Pump.fun Co-founder: PENGUIN Successfully Proves On-Chain Transactions Have Never Died, Still Plenty of Opportunities

January 26: Erik Zhang, one of NEO’s two co-founders, said in a post he just wrapped up a meeting with fellow NEO co-founder Da Hongfei. The outcome was neither surprising nor positive: Da proposed so-called “limited cooperation” but offered no substantive details on any key issues. Zhang laid out three baseline demands—all flatly rejected: - Establish an effective, verifiable financial oversight and management mechanism - Abandon the EON project, which directly competes with NEO - Authorize Zhang to publish updates via NEO’s official website and official X (Twitter) account “Given this, I can’t discern any sincere intent for genuine cooperation or willingness to meaningfully lift NEO’s value,” Zhang wrote. Noting NEO has continued to decline under Da’s leadership over the past several years, he formally called for Da to resign from his leadership role in the NEO ecosystem.

January 26: Bitcoin fell below $87k early this morning, dropping over 10% since January 14 with no signs of a market recovery in sight. When will the decline end, and where will the eventual bottom land? BlockBeats has compiled key analysis points from before and after this latest drop below: ### Key Analyst Takes - **Placeholder VC Partner Chris Burniske**: Says he’s not buying Bitcoin right now — instead, he’s watching critical support levels: $80k, $74k, $70k, $58k, and $50k+ below. Short-term swings aren’t his focus. If prices rebound, hold and gradually diversify; if there’s a deep retracement, view it as an opportunity to add to Bitcoin and high-quality crypto positions. - **Bloomberg Intelligence’s Mike McGlone**: Wrote, “Ethereum looks set to test the lower end of its $2,000–$4,000 range since 2023. I think the risk of it falling below $2,000 is higher than reclaiming $4,000, especially as stock market volatility picks back up.” - **Trader Eugene Ng Ah Sio**: “I don’t

On January 26th, per HyperInsight monitoring (via their Telegram channel @HyperInsight), the whale trader 0x26359 upped leverage by 1x and opened a 242,356-coin short position on MEGA. Key details: - Average entry price: $0.214 - Unrealized profit: $7,343 - Liquidation price: $0.3671 Previously, this trader shorted MON, LIT, and FOGO, netting a total profit of $41,600.

On January 26, HyperInsight monitoring indicates the "High-Frequency Shorting Pioneer" (address 0x3bcae) partially closed an ETH short position at 11:49. The trade incurred a $12,500 loss over 3 hours, leaving the address with an unrealized loss of $49,000. This address uses a high-frequency, multi-asset strategy with strict risk controls, having accumulated a total profit of $2.367 million since its launch.

January 26: Bitcoin briefly dipped below $87,000 this morning, wiping out all of its January gains. The crypto’s year-to-date return for the month is now -0.5%. On January 14, Bitcoin hit a monthly high above $97,000, and it’s currently down roughly 10.9% from that peak. Several factors have driven the decline: geopolitical risks, fading safe-haven appeal, the Fed’s rate hike pause, outflows from institutional ETFs, and market deleveraging. Historical data shows Bitcoin has averaged a +3.81% return in January since 2013, with a median return of +0.62%. Over the past 13 years, January has delivered 7 positive returns and 6 negative ones for the crypto.

January 26 – Per data from the Coinbob Popular Address Monitor (https://t.me/Coinbob_track_CN), the “BTC OG Insider Whale” (wallet address 0xb31) deposited roughly $20 million in collateral to decentralized exchange Hyperliquid earlier today, with the funds unused as of press time. ### Current Key Metrics - Unrealized losses on long positions have widened to $80 million; - Weekly fund withdrawals total $120 million; - Funding fee settlements have incurred $8.1 million in losses (mostly tied to its ETH long); - Total position size sits at ~$785 million, making it the largest on-chain long holder for both ETH and SOL. ### Core Long Positions | Asset | Leverage | Position Size | Avg Entry | Unrealized Loss | Liquidation Price | |-------|----------|---------------|-----------|-----------------|-------------------| | ETH | 5x | $6.34B | $3,161 | $71.5M (-56%) | $2,192 | | BTC | 5x | $87M | $91,500 | $4.4M (-25%) | N/A