Huang Renxun has left Beijing, and NVIDIA has not disclosed whether Huang Renxun met with the DeepSeek founder.

Magic Eden announced on January 19 that starting February 1, 15% of its revenue will be directly injected into the ME token ecosystem. This portion will be split evenly: 50% will go toward repurchasing ME tokens on the open market, while the other 50% will be distributed to ME stakers as USDC based on their staking weight. The existing ME buyback mechanism (which previously only covered market trading fees) will be upgraded to a full-ecosystem revenue distribution system. Staking weight is determined by the amount of ME staked and the duration of the stake. USDC rewards can be claimed monthly—with the first claim (covering February activity) opening in March—and rewards must be claimed within 90 days.

On January 19, Glassnode shared data on social media showing that the **STH-NUPL metric**—which measures the ratio of new investors’ unrealized gains/losses to the market value of short-term holders—has indicated new investors have been in a net unrealized loss position consistently since November 2025. To push this group back to net profitability, a Bitcoin price recovery to roughly $98,000 or higher appears to be the minimum threshold. ### BlockBeats Note Following historical bear market and sharp pullback patterns, prolonged declines may gradually force these short-term holders (STHs, or new investors) to capitulate while in unrealized losses. - During the 2018 bear market, STH-NUPL plummeted to ~-0.6, triggering mass capitulation among short-term players. Realized losses cleared a large speculative bubble, paving the way for the market to bottom out and launch a new bull cycle. - In the 2022 bear market (post-FTX collapse), STH realized losses hit a record peak. After weak

Jan. 19th Wintermute published a new article noting that 2025 failed to deliver the expected market rally, but the year could mark the start of crypto’s shift from a speculative asset to a more mature asset class. The traditional four-year cycle pattern is breaking down: market performance is no longer tied to a self-fulfilling time-based narrative, but instead hinges on liquidity flows and investors’ concentrated focus. 2025 saw no repeat of the Bitcoin-to-Ethereum-to-altcoin fund flow cycle. As retail interest shifted to stocks, 2025 emerged as an extremely centralized year: altcoins’ average rebound cycle shrank to 20 days (down from 60 days in 2024), while a handful of top assets soaked up most new capital and the broader market lagged. For the market to break beyond top assets’ dominance, at least one catalyst must occur: ? ETFs and digital asset trust funds expanding their investment mandates ? A surge led by top assets like BTC and ETH ? Retail interest (from stock

On January 19, iconic U.S. fast-food chain Steak ‘n Shake added $10 million worth of Bitcoin to its corporate treasury. This recent strategic purchase underscores the company’s strong commitment to integrating cryptocurrency as a core component of its financial strategy. Steak ‘n Shake executives view this efficiency gain as a key driver behind expanding its treasury, framing Bitcoin not just as a payment method but also as a long-term store of value. Based on the estimated market price at the time of purchase, the $10 million acquisition equals roughly 105 Bitcoin.

On January 19, official sources confirmed that a proposal to cut the maximum supply of PancakeSwap’s native token CAKE passed with 100% support in the vote. The proposal calls for reducing CAKE’s max supply from 450 million to 400 million. Post-adjustment, there will still be roughly 50 million tokens in buffer between the current circulating supply (around 350 million) and the new 400 million cap.

As of 20:13 UTC on Jan. 19, Paradex’s blockchain state has been fully restored and is operational, per the platform’s official status update. Earlier that day, Paradex suffered a system outage stemming from database maintenance and migration issues—an incident that included abnormal BTC price crashes and widespread forced liquidations. A subsequent official announcement confirmed the blockchain would be rolled back to block 1604710 (restoring pre-outage conditions around 04:27 UTC), with all user accounts reset to their state prior to the maintenance work.