BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

On January 29, data from the Coinbob Popular Address Monitor shows that as gold prices continue to strengthen—breaking above $5,600 per ounce to hit a new all-time high today—whales on Hyperliquid holding long positions in PAXG (on-chain gold) have racked up substantial unrealized gains. Among them, the “Precious Metals Heavy Position” whale (address 0x271) currently holds long positions in PAXG and GOLD (a gold mapping contract) totaling approximately $5.5 million, making it the largest holder of on-chain gold-related long positions. The address significantly added to its SILVER (silver mapping contract) long position yesterday and continued to notch meaningful profits today. Key position details follow: - **PAXG (on-chain gold) Long**: ~$3.62M size, avg entry $4,429, unrealized gain ~$740k (200%); - **SILVER (silver mapping contract) Long**: ~$2.35M size, avg entry $111, unrealized gain ~$130k (22%); - **GOLD (gold mapping contract) Long**: ~$1.94M size, avg entry $4,799, u

**Fed Holds Rates Steady in 2026 First Decision; Gold, Silver Extend Gains** Beijing time, January 29 at 3:00 am — The Federal Reserve announced its first interest rate decision of 2026 early Wednesday: it will keep the benchmark federal funds rate unchanged at 3.50%-3.75%, pausing three consecutive rate cuts since September 2025. The move aligns with market expectations. Goldman Sachs analyst Kay Hayes noted that strong economic data and signs of labor market stabilization likely led the Fed to hold policy steady temporarily. “We expect rate cuts to resume later this year,” Hayes said. “Slowing inflation will allow the Fed to cut twice more as part of its normalization process, bringing rates back to the neutral level FOMC members view as appropriate.” Fed Chair Jerome Powell said in post-decision remarks that the unemployment rate has shown modest stabilization, inflation remains slightly above the Fed’s 2% target, and the labor market may be stabilizing after a gradual soft

January 29 – On-chain analyst Ai Auntie (@ai_9684xtpa) reports a whale address that previously accumulated ETH reportedly sold 18,823.9 ETH (valued at $55.9 million) over the past week, incurring a loss of $3.138 million. In the last 11 hours, the whale has deposited 5,133.91 ETH (worth $15.38 million) into OKX. Their last ETH accumulation occurred on January 22. Since December 5, 2025, this address has amassed a total of 55,262.16 ETH, with a combined value of $172 million and an average cost of roughly $3,120 per ETH.

January 29 – Official sources confirm that Flying Tulip, the unified on-chain financial system founded by Sonic Labs founder Andre Cronje, will launch its token sale on CoinList. The public sale aims to raise $200 million, representing 20% of the total FT token supply (20 billion tokens). The token is priced at $0.10, with a fully diluted valuation (FDV) of $1 billion. The sale runs from 00:00 UTC on February 3 through 21:00 UTC on February 6, with a minimum purchase of $100. Flying Tulip intends to integrate spot trading, lending, perpetual contracts, insurance, and a native stablecoin (ftUSD) into a single protocol framework. Tokens in the sale are protected by a "Perpetual PUT" structure. Participants will receive FT NFTs with redemption rights, enabling them to: hold the NFTs, burn tokens to redeem their original investment amount, or unlock tokens for free trading (forfeiting redemption rights upon unlocking).

**January 29 Market Update: U.S. Stocks Mixed, Crypto Stocks Mostly Lower (Bitget Data)** U.S. stocks closed mixed on Wednesday, January 29, per Bitget market data: - Dow Jones Industrial Average: +0.03% - S&P 500: Edged lower - Nasdaq Composite: +0.17% Cryptocurrency-related stocks were predominantly lower, with only two notable gainers: - Circle (CRCL): +4.12% - Bitmine (BMNR): +1.02% Most crypto-linked equities fell, including: - Coinbase (COIN): -0.66% - MicroStrategy (MSTR): -1.94% - Bullish (BLSH): -1.35% - Gemini (GEMI): -0.33% - SharpLink Gaming (SBET): -0.2% - Bit Digital (BTBT): -2.7% - ETHZilla (ETHZ): -3.4% - BTCS Inc (BTCS): -3.28% - ALT5 Sigma (ALTS): -3.2% - American Bitcoin (ABTC): -1.89% - Kindly MD (NAKA): -0.9%

On January 29, Lighter announced via social media a new rule: users must stake LIT tokens to gain access to LLP. For LLP allocations exceeding staked LIT coverage (1 LIT covers 10 USDC), the team will gradually refund the excess to users. Starting tomorrow, daily refunds will cap at the higher of 3% of the uncovered amount or 100 USDC, with funds sent directly to users’ USDC balances. The mechanism aims to better align the interests of LIT stakers and LLP holders. Critically, LLP allocations are now verifiable—rules have been encoded into a zero-knowledge proof (ZK) circuit. In two weeks, traders will be able to use LLP as collateral, a move that will boost Lighter’s capital efficiency and enhance the utility of both LLP and staked LIT.