Solana on-chain spot trading volume has surpassed all Binance off-chain exchange platforms

On January 29th, spot gold jumped to $5,330 per ounce—hitting a fresh all-time high—with a 2.91% intraday gain, per Bitget market data.

On January 29, Federal Reserve Chair Jerome Powell stated that a rate hike is not part of anyone’s baseline assumption, and no one anticipates an increase at the next meeting. A rate cut will be warranted if the labor market weakens, but not if it remains strong. Downside risks to the labor market must also be monitored should they reemerge. (jin10)

**January 29 – Federal Reserve Chair Jerome Powell said Friday he has no intention of outlining specific criteria for future interest rate cuts.** Risks to the Fed’s dual mandate (maximum employment and stable prices) have somewhat diminished, he noted, adding that Committee members hold differing views on balancing these risks. Powell also stated the impact of tariffs on goods inflation is expected to peak this year before declining. “If we see that tariff-driven inflation peak and subsequent fall,” he said, “it would suggest we can ease policy.” Short-term inflation expectations have fully receded—“very reassuring,” he emphasized. Longer-term expectations reflect confidence inflation will return to the Fed’s 2% target, per FX678.

Jan. 29 – Reporters have three questions that remain unanswered by the Federal Reserve (Fed): 1. It provided no additional details regarding political pressure on the central bank. 2. It offered no comment on whether a relevant official will depart the Fed in May. 3. It declined to comment on the U.S. dollar exchange rate. (FX168)

Jan 29 - Fed Chair Powell: No further elaboration on subpoena-related statements. (When asked if the Fed has responded to the DOJ’s subpoena) No information to share today. Post-term plans for Fed Chair Powell not yet finalized. (Source: FX678)

On January 29, Allspring analyst Matthias Scheiber noted that the U.S. job market is stabilizing and inflation remains sticky—factors pushing the Federal Reserve to take a wait-and-see approach as it assesses how prior rate cuts have impacted economic growth. Current interest rates appear near the neutral level—one that supports stable employment while aiding inflation control. That said, the AI-fueled investment and capital expenditure boom, plus a sharp jump in commodity prices (including industrial metals), could keep inflation more persistent this year. Markets have largely priced in one of the two rate cuts expected late last year. The top focus remains the announcement of the new Federal Reserve Chair—with the race still open—but there’s a broad expectation that Powell’s successor will be more dovish. Government pressure on the Fed to lower rates will stay a recurring theme this year. (FXStreet)