Crypto World
Bitcoin Dips to $60k as TRM Labs Joins Crypto Unicorn Club
Crypto markets endured a brutal week as liquidity worries resurfaced in the wake of a high-profile Federal Reserve nomination. Investors watched US liquidity signals tighten while Bitcoin ETFs experienced notable outflows, contributing to choppy price action across the sector. The period also featured a string of high-profile financing moves and notable risk events that underscored the fragility of liquidity and risk appetite in crypto markets. Bitcoin and other large assets began to show resilience only after a brief slide, with traders assessing how policy shifts could shape funding conditions in the months ahead.
Key takeaways
- Bitcoin ETFs saw three consecutive days of outflows totaling about $431 million, underscoring persistent liquidity concerns even as spot prices fluctuated and regained ground.
- The crypto market’s largest price swing this week came as BTC traded near the $60,000 neighborhood before reclaiming the $64,000 level, highlighting a delicate balance between selling pressure and support at key levels.
- TRM Labs closed a $70 million Series C, valuing the blockchain intelligence firm at $1 billion and signaling continued investor confidence in on-chain analytics as a bulwark against AI-augmented cybercrime.
- Avalanche’s on-chain tokenization activity surged in Q4, with real-world asset tokenization rising to more than $1.3 billion in TVL and daily momentum aided by BlackRock’s BUIDL fund and other institutional partnerships.
- Jupiter secured a $35 million strategic investment from ParaFi Capital, marking the first time Solana-based Jupiter accepted outside capital while expanding beyond swaps into perpetuals, lending and stablecoins.
Tickers mentioned: $BTC, $AVAX, $JUP, $SOL, $ZEC
Sentiment: Bearish
Price impact: Negative. The week’s liquidity concerns and continued selloffs pressured prices, with intraday volatility driven by ETF outflows and leveraged-liquidation activity.
Trading idea (Not Financial Advice): Hold. The near-term setup suggests sensitivity to macro signals and policy cues, but liquidity adaptations by major players could offer selective opportunities in risk-managed positions.
Market context: The period reflected broader crypto-market liquidity dynamics, policy expectations around the Federal Reserve, and ongoing flows into and out of crypto-related products that influence price trajectories and risk appetite.
Why it matters
The week highlighted how macro policy choices and liquidity conditions remain core to crypto pricing. The nomination of Kevin Warsh to head the Federal Reserve has sparked debate about whether policy will tilt toward stabilizing liquidity flows or sustaining tight funding conditions. Traders closely watched whether the nomination would translate into a more cautious stance on rate reductions and balance-sheet expansion, potentially placing continued pressure on risk assets, including digital currencies and DeFi platforms.
Meanwhile, institutional interest in on-chain analytics and risk-management tools continued to rise. TRM Labs’ unicorn status after a $70 million Series C underscores the market’s belief that blockchain intelligence and anti-fraud capabilities will be central to enterprise risk management as digital asset ecosystems grow in scale and complexity. The round, led by Blockchain Capital with participation from Goldman Sachs and others, signals ongoing appetite among traditional financial players to integrate crypto-native risk controls into broader financial operations.
On the product and network side, tokenization within Avalanche continued to gain momentum, a trend amplified by the involvement of traditional finance players. The platform’s growth in tokenizing real-world assets, combined with the launch of BlackRock’s BUIDL fund and the S&P Dow Jones partnership with Dinari, demonstrates how tokenized money markets, loans and indexes are becoming more central to institutional experimentation. The quarter’s numbers—an increase of tokenized real-world asset value by hundreds of percent year over year—underscore a shift from speculation toward utility in tokenized finance at scale.
In parallel, Jupiter’s infusion of outside capital marked a turning point for a Solana-based protocol that has long driven on-chain trading and liquidity aggregation. The ParaFi-led investment, coupled with the company’s expansion into on-chain perpetuals, lending and stablecoins, reinforces the trend of traditional funds seeking strategic exposure to fully on-chain ecosystems that promise deeper liquidity and more resilient product suites. The market also watched for the token’s performance, with Jupiter’s native token price rising in response to the news.
Still, the week wasn’t without turbulence. The Solana ecosystem saw a significant breach in treasury management on one DeFi platform, and other episodes highlighted the ongoing cybersecurity and operational risks that confront decentralized finance as activity scales. While some platforms have moved toward more centralized governance or governance-sharing arrangements, the overarching arc remains: innovation is accelerating, but risk controls must keep pace to sustain long-term confidence.
In aggregate, the DeFi universe ended the week with a mixed risk lens. While several projects advanced tokenization and institutional collaboration, broader market momentum remained tethered to policy signals and the health of traditional liquidity channels. The week’s data points—ranging from ETF withdrawals to multi-billion-dollar liquidation events—reflect a crypto market in transition: not only growing in sophistication but also increasingly sensitive to macro policy and systemic liquidity dynamics.
Avalanche tokenization hits Q4 high as BlackRock’s BUIDL expands onchain
Blockchain network Avalanche demonstrated notable institutional traction in tokenizing traditional assets during the fourth quarter. Total value locked (TVL) in tokenized real-world assets on Avalanche rose 68.6% quarter over quarter and nearly 950% year over year, surpassing $1.3 billion, according to Messari’s state-of-Avalanche Q4 2025 report. The surge was driven in part by the November launch of BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), alongside broader deployments in tokenized money markets and loans.
The momentum was helped by strategic collaborations—Fortune 500 fintech FIS teamed with Avalanche-based Intain to bring tokenized loans to market, enabling securitization of billions of dollars in credit activity. The S&P Dow Jones Digital Markets 50 Index, launched in partnership with Dinari on Avalanche, tracks a cross-section of crypto-linked stocks and tokens and underscores the ongoing push to tie traditional benchmarks to on-chain exposure. The combination of these partnerships has supported a notable expansion of tokenized assets on the platform, contributing to a broader middleware layer that bridges real-world value with blockchain rails.
Traditional finance institutions are increasingly comfortable experimenting with tokenization, and the Securities and Exchange Commission’s more constructive stance toward crypto products has further lowered the regulatory headwinds facing such projects. This backdrop helps explain why on-chain asset issuance and tokenized funding mechanisms have gained traction on Avalanche, with real-world assets expanding beyond conventional crypto collateral and into more diversified financial instruments.
ParaFi Capital makes $35M investment in Solana-based Jupiter
Jupiter, a Solana-based on-chain trading and liquidity-aggregation protocol, announced a $35 million strategic investment led by ParaFi Capital. The deal marks the first time Jupiter has accepted external capital after years of bootstrapped growth. The investment included token purchases at market prices with no discount and an extended lockup period, settled entirely in Jupiter’s JupUSD stablecoin. The terms also included warrants allowing ParaFi to acquire additional tokens at higher prices, aligning long-term incentives with Jupiter’s growth trajectory.
The capital infusion comes as Jupiter broadens its product suite. After delivering a beta on-chain prediction market with Kalshi, the project rolled out JupUSD, a Solana-native stablecoin designed for on-chain settlement. Jupiter’s trading volume has surpassed $1 trillion in the past year, reflecting a rapid acceleration of liquidity and on-chain efficiency on Solana. The company has since expanded beyond swaps to perpetuals and lending, signaling a broader push to become an all-in-one on-chain liquidity hub.
Jupiter’s native token (JUP) responded to the news, rising roughly 9% over the prior 24 hours, underscoring investor appetite for Solana-native ecosystems that couple high throughput with diversified on-chain products. This momentum reflects a broader trend of cross-platform collaboration, where on-chain trading, governance, and liquidity provisioning are increasingly integrated with real-world asset workflows and institutional-grade risk controls.
Aave winds down Avara, phases out Family wallet in DeFi refocus
Aave Labs announced a strategic refocusing by winding down its umbrella brand Avara, which encompassed projects including the Family wallet and Lens, as the group doubles down on core DeFi initiatives. Stani Kulechov, Aave’s founder and CEO, noted that Avara is no longer required as the company concentrates on delivering broad DeFi access to users, with onboarding millions of users requiring purpose-built experiences rather than generic wallet interfaces.
The move aligns with Aave’s broader strategy to reallocate resources toward its flagship lending protocol and other core DeFi products. As governance and ecosystem partnerships evolve, projects like Lens have seen stewardship shifts to other collaborations, enabling Aave to focus on what it terms “DeFi for everyone.” The decision underscores the ongoing recalibration within the market as crypto firms chase product-market fit at scale and navigate regulatory expectations alongside user growth.
Kulechov indicated that the total effort within the team remains focused on unifying engineering and design toward a singular mission: bringing DeFi to a broad audience. The development trajectory suggests continued emphasis on user-friendly, accessible financial primitives and streamlined onboarding processes rather than sprawling, multi-brand architectures.
What to watch next
- Next batch of ETF outflow data and liquidity indicators to gauge whether funding conditions stabilize or deteriorate.
- Federal Reserve policy signals and potential implications for risk assets as the Warsh nomination progresses through confirmation and policy debate.
- Continued institutional participation in tokenization and on-chain finance, including Avalanche’s RWAs and partnerships with traditional finance players.
- Jupiter’s ongoing product expansion and ParaFi’s involvement in governance and token strategies.
Sources & verification
- Data on Bitcoin ETF outflows and price movements from Farside Investors and Cointelegraph coverage.
- Record of the Jan. 31 liquidation event reported by CoinGlass and related market data.
- TRM Labs’ Series C funding round and unicorn status as announced in its press release.
- Messari’s State of Avalanche Q4 2025 report, detailing RWAs and TVL growth.
- ParaFi Capital’s $35 million investment in Jupiter and the terms of the deal.
Milwaukee Bucks forward Giannis Antetokounmpo has taken a stake in prediction market platform Kalshi, marking the first time an active NBA player has directly invested in the federally regulated event-contracts exchange.
Key Takeaways:
- Giannis Antetokounmpo became the first active NBA player to invest directly in prediction market platform Kalshi.
- Kalshi offers federally regulated “yes-or-no” event contracts across sports, politics and entertainment.
- The deal follows growing scrutiny over the blurred line between trading markets and sports betting.
The two-time NBA MVP announced the partnership Friday, saying he will join Kalshi as a shareholder and collaborate with the company on live events and marketing campaigns.
Kalshi confirmed the agreement in a statement, adding that Antetokounmpo will not be allowed to trade on any NBA-related markets due to internal rules prohibiting insider trading and manipulation.
Inside Kalshi’s ‘Yes-or-No’ Prediction Trading Markets
Kalshi operates a marketplace where users trade “yes or no” contracts tied to real-world outcomes.
The platform lists markets spanning politics, entertainment and sports, allowing traders to take positions on events such as award winners or championship results.
Earlier this week, the service even hosted a market on whether Antetokounmpo himself would be traded before the NBA deadline.
Although money changes hands, the platform is treated as a financial exchange rather than a sportsbook.
As a result, Kalshi is permitted to operate across the United States under federal oversight, avoiding the patchwork of state gambling regulations that apply to traditional betting operators.
The NBA’s collective bargaining agreement allows players to promote betting companies under certain conditions, provided they do not advertise wagers on NBA, WNBA or G League games.
Players may also hold passive equity stakes of up to 1% in such businesses. Antetokounmpo’s investment falls within those limits.
“I like to win. It’s clear to me Kalshi is going to be a winner and I’m excited to be getting involved,” Antetokounmpo said.
He is not the first basketball figure linked to the company. Phoenix Suns star Kevin Durant is reportedly an indirect investor through the 35V venture fund he co-founded with agent Rich Kleiman.
The move comes amid heightened scrutiny of sports wagering. US authorities recently filed gambling-related charges involving several basketball figures, and regulators have been examining the expanding overlap between trading platforms and betting markets.
The NCAA previously asked Kalshi to modify wording on its site that suggested an official relationship with the organization.
Kalshi Expands Sports Push With NHL Deal and Athlete Endorsement
Despite the attention, Kalshi has been expanding its sports presence.
The company announced a partnership with the NHL in October and, in January, signed professional golfer Bryson DeChambeau as its first athlete endorser, including appearances and promotional campaigns tied to events in which he competes.
Kalshi has also secured a major media breakthrough after signing a partnership with CNN, making the company the network’s official prediction markets partner while closing a $1 billion funding round at an $11 billion valuation.
Web3 prediction markets have crossed $13 billion in cumulative trading volume, marking a record high even as broader crypto markets cool.
The surge has drawn in major players across tech and finance, including Fanatics, Coinbase, and MetaMask, all of which have recently launched or expanded event-trading platforms.
The post NBA Star Giannis Antetokounmpo Becomes Shareholder in Prediction Market Kalshi appeared first on Cryptonews.
The battle for the fourth position in terms of market cap continues, but this time, BNB has come on top.
The rather calm behavior during the weekend has worked in favor of bitcoin, at least for now, as the asset has steadily climbed above $70,000 after the rejection on Saturday morning.
Most larger-cap altcoins are also in the green, with ETH trading above $2,100 and SOL close to $90. HYPE is among the few alts deep in the red today.
BTC Taps $70K
The previous weekend brought unexpected volatility to the cryptocurrency markets. The largest of the bunch dumped from $84,000 to under $76,000 on Saturday night and tried to recover to $79,000 on Sunday. However, it was stopped there, and the bears resumed control during almost the entire business week.
After initiating several smaller and less painful leg downs, they stepped up on the gas pedal on Thursday, causing another market calamity. In just over 24 hours, they brought BTC to its knees, pushing it from $77,000 to $60,000 on Friday morning, its lowest price in well over a year.
The cryptocurrency rebounded sharply after this massive decline, and bounced to $72,000 on Friday evening and Saturday morning. It couldn’t proceed further and was pushed down to $68,000 yesterday. Now, though, it has jumped to just over $70,000 after a 2.3% daily increase.
Its market cap has reclaimed the $1.4 trillion mark, while its dominance over the alts is just shy of 57% on CG.
BNB Flips XRP (Again)
ETH was among the poorest performers during the crash, dumping from $2,400 to $1,730 in a few days. However, it has recovered almost $400 since then and now sits above $2,100. BNB and XRP continue to fight for the fourth spot in terms of market cap, but Binance Coin has emerged as the winner during the weekend.
Solana’s SOL is up to almost $90, while LTC, LINK, ZEC, and XLM have posted gains of up to 4%. In contrast, HYPE has dropped by almost 5% to under $32.
The total crypto market cap has added another $80 billion since yesterday and is close to $2.5 billion on CG.
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Cathie Wood’s ARK Invest continued reducing its exposure to crypto exchange Coinbase on Friday, unloading $22 million worth of shares across multiple exchange-traded funds (ETFs) while adding to its position in digital asset platform Bullish.
According to ARK’s trade disclosures, the firm sold 92,737 Coinbase Global shares from the ARK Innovation ETF (ARKK), 32,790 shares from the Next Generation Internet ETF (ARKW) and 8,945 shares from the Fintech Innovation ETF (ARKF). The combined transactions totaled 134,472 shares, worth around $22.1 million.
The sale came as ARK Invest, led by Cathie Wood, has reversed course on Coinbase, selling 119,236 COIN worth about $17.4 million on Thursday after a brief purchase earlier in the week. The Thursday sale was the firm’s first Coinbase sale of 2026 and its first since August 2025.
Meanwhile, Coinbase stock climbed during the Friday session, closing at about $165 after gaining roughly 13% on the day. However, the exchange’s shares are still down by 26% year-to-date (YTD), according to data from Google Finance.
Related: Cathie Wood’s ARK boosts crypto shares amid stock pullback
ARK boosts Bullish stake
At the same time, ARK accumulated shares of Bullish across multiple funds. The investment manager purchased 278,619 shares in ARKK, 70,655 shares in ARKW and 43,783 shares in ARKF, accumulating a total of 393,057 shares worth $10.7 million.
Bullish shares ended the trading day near $27, up about 10%. However, the stock is down by 27% YTD as the company reported a net loss of $563.6 million, or $3.73 per diluted share, in the fourth quarter of 2025, reversing a profit of $158.5 million recorded a year earlier.
Alongside the crypto moves, ARK added Alphabet, Recursion Pharmaceuticals and Tempus AI, while reducing exposure to several high-growth technology companies including Roku, The Trade Desk and PagerDuty.
Related: Cathie Wood’s ARK adds Coinbase, Circle, Bullish as crypto slides
Crypto slump weighs on ARK ETFs
As Cointelegraph reported, a fourth-quarter pullback in digital asset markets hurt several of Cathie Wood’s ARK ETFs. In its latest quarterly report, ARK said weakness in companies tied to digital assets, particularly Coinbase, was a major drag on flagship funds including ARKK, ARKW and ARKF.
Coinbase shares fell more sharply than major cryptocurrencies during the period as centralized exchange trading volumes dropped 9% quarter-on-quarter after October’s liquidation event. The stock declined nearly 35% from October to year-end, underperforming both Bitcoin (BTC) and Ether (ETH).
Magazine: Bitget’s Gracy Chen is looking for ‘entrepreneurs, not wantrepreneurs’
Bitcoin’s slide below $70,000 is dividing market participants, according to Bitwise CEO Hunter Horsley. Long-time holders appear uneasy as prices slip, while a fresh class of buyers—institutions—seems to be getting another shot at entry at levels they once believed out of reach. In a CNBC interview on Friday, Horsley noted that the new investor set—institutions—are seeing prices they thought they’d forever missed. The pullback arrives as regulators push for clearer rules and as institutional interest remains visible through inflows to crypto products. The dynamics highlight how price, sentiment, and regulation are intertwining in a single, fast-moving market.
Key takeaways
- Bitcoin priced around $69,635 at publication, down about 22.6% in the last 30 days, signaling persistent downside pressure in a broad bear phase.
- Institutional demand remains robust, with Bitwise reporting more than $100 million in inflows on a single day as Bitcoin hovered near $77,000.
- Long-time holders appear uncertain about the path forward, while new buyers re-enter at elevated levels, underscoring a split between conviction and opportunity.
- Macro assets are moving in tandem with Bitcoin, with gold and silver retreating from their peaks, illustrating a broad risk-off tone across markets.
- Retail curiosity has spiked as searches for “Bitcoin” rose on Google Trends, while mainstream product inflows continued to surface.
Tickers mentioned: $BTC
Sentiment: Bearish
Price impact: Negative. The ongoing bear market and the price retreat imply continued headwinds for near-term momentum.
Market context: The price action comes as regulators pursue clearer rules for digital assets and institutions gradually increase exposure, with Bitcoin correlating with broader liquidity conditions and risk sentiment.
Why it matters
For investors who built positions during the earlier hype around crypto adoption, the current pullback tests the resilience of on- and off-ramp infrastructure and the staying power of institutional interest. The emergence of genuine demand from large buyers at higher price points suggests that the market could still attract capital even as prices soften, potentially laying groundwork for a more durable base if macro conditions stabilize.
From a market structure perspective, the divergence between cautious, long-hold participants and opportunistic institutional entrants could influence price discovery over the medium term. If inflows from institutional vehicles persist, they may counterbalance selling pressure from traders who favor liquidity and quick turns, contributing to a more two-sided market rather than a simple downtrend. This dynamic matters for exchanges, custodians, and other ecosystem participants, as steady liquidity and credible risk controls become critical to sustaining institutional confidence despite ongoing volatility.
What to watch next
- Keep an eye on Bitcoin’s price around the $70,000 level; a sustained hold could invite renewed risk-taking, while a break lower may accelerate exits from leveraged positions.
- Track daily institutional inflows into crypto products and funds, which can indicate whether the current interest is a temporary reentry or a longer-term shift in allocation.
- Monitor regulatory developments in major jurisdictions, as clearer guidelines could unlock additional deployment channels for institutions and funds.
- Watch retail sentiment indicators, including Google Trends data and other search signals, for signs of broader momentum beyond professional buyers.
- Observe ETF and product-flow dynamics into spot BTC offerings; continued inflows would reinforce the thesis of growing mainstream participation.
Sources & verification
- Horsley’s CNBC interview on Feb. 5, 2026, discussing institutional demand and price action.
- Bitcoin price data around $69,635 and the 30-day performance from CoinMarketCap: Bitcoin (BTC) on CoinMarketCap.
- Google Trends data showing heightened search interest for “Bitcoin” in the week starting Feb. 1: Google Trends.
- BlackRock spot Bitcoin ETF inflows reported in coverage from Cointelegraph: Cointelegraph.
- Bitwise fund size and inflows cited by Bitwise communications in the context of institutional demand: over $15 billion in assets under management and more than $100 million in inflows in a single session.
Bitcoin price action shows divergence between holders and new buyers
Bitcoin (CRYPTO: BTC) sits near $69,635 after slipping more than 22% over the past month, according to CoinMarketCap, a move that underscores a bear market in which liquidity and macro forces dominate the narrative. The decline arrives as the industry progresses toward regulatory clarity and as institutional interest remains visible in episodic bursts. In a CNBC interview, Bitwise CEO Hunter Horsley described a market split: long-time holders grow wary of the pace of downside, while institutions—previously priced out—are re-entering at levels they once believed out of reach, signaling a renewed but cautious appetite for exposure.
The conversation about Bitcoin’s next leg has a longer memory. Geoff Kendrick, head of digital asset research at Standard Chartered, had argued in October that Bitcoin wouldn’t likely fall below $100,000 again. That perspective highlights how fast-changing sentiment can reshape benchmark expectations, especially when macro conditions—ranging from liquidity to policy—pose competing forces. Horsley’s account aligns with a broader view: Bitcoin’s price action cannot be divorced from the macro backdrop, and the asset is currently being carried by the same tides that move risk assets in a climate of evolving regulation and central-bank liquidity.
Yet the narrative is not simply about price in isolation. Horsley emphasized ongoing demand from institutions, noting that Bitwise manages more than $15 billion for investors and witnessed well over $100 million in inflows on a single Monday when Bitcoin traded near $77,000. The message is clear: even as headlines and charts point to weakness, a steady stream of capital from sophisticated buyers remains a meaningful counterweight to selling pressure. The market’s liquidity—the ability to absorb a burst of selling without a sharp price collapse—continues to be a defining feature of this cycle, a feature that could ultimately determine whether this pullback establishes a durable base or merely prolongs volatility.
Macro assets offer a complementary lens on the current mood. Gold has retreated about 11.43% from its all-time high of $5,609, trading around $4,968, while silver has dropped roughly 35.95% from its peak of $121.67 to about $77.98. This broad decline across risk-on assets suggests a risk-off stance among investors, even as crypto-specific narratives persist. Google Trends data underscore that retail curiosity remains palpable: searches for “Bitcoin” spiked to a 12-month high during the week when the price dipped toward the $60,000 area, a level not seen since late 2024. At the same time, BlackRock’s spot Bitcoin ETF inflows—around $231.6 million on a single Friday—illustrate how mainstream interest continues to ebb and flow with volatility, underscoring the ongoing process of crypto-market maturation and broader adoption.
Looking ahead, the market appears to be negotiating the tension between momentum and prudence. The convergence of elevated institutional participation with persistent price fluctuations implies that Bitcoin could remain range-bound for a while longer, awaiting clearer catalysts. If macro conditions stabilize and regulatory signals sharpen, the probability of a more decisive move—up or down—could rise as new players re-evaluate risk, liquidity, and the strategic case for crypto exposure. The current data set paints a nuanced picture: a market increasingly steered by institutional conviction, even as price action continues to test the resolve of both bulls and bears.
Bitcoin’s drop below $70,000 is being seen very differently by long-time holders and institutional investors, according to Bitwise CEO Hunter Horsley.
“I think long-time holders are feeling unsure, and I think the new investor set, institutions are sort of getting a new crack at the apple,” Horsley said during an interview with CNBC on Friday. Horsley said that institutional buyers are “seeing prices they thought that they’d forever missed.”
It was only in October that Standard Chartered’s head of digital asset research, Geoff Kendrick, said he doesn’t expect Bitcoin to fall below $100,000 again.
Bitcoin “getting swept up” with the rest of macro
Horsley acknowledged that Bitcoin’s (BTC) recent plunge comes at an unusual time, given the ramp-up in efforts toward regulatory clarity and growing institutional interest. Bitcoin is down 22.60% over the past 30 days, trading at $69,635 at the time of publication, according to CoinMarketCap.
Horsley said that Bitcoin is in a bear market and is “getting swept up” with the rest of the macroassets as investors are “selling everything that is liquid.”
“In the present moment, it is mostly trading with other liquid assets,” he said.
Gold has since fallen 11.43% from its all-time high of $5,609 on Jan. 28, trading at $4,968 at the time of publication, according to Trading Economics.
Meanwhile, Silver has fallen 35.95% from its all-time high of $121.67 on Jan. 29, trading at $77.98 at the time of publication.
Horsley points to strong inflows from institutions
Horsley said demand for Bitcoin remains strong, particularly from institutional investors.
He said that Bitwise manages over $15 billion in institutional funds and saw more than $100 million in inflows on Monday alone, when Bitcoin was trading around $77,000.
Related: Bitcoin difficulty drops by over 11%, sharpest drop since 2021 China ban
“There’s a lot of volume, and there are sellers and buyers,” Horsley said.
Curiosity among retail investors has also spiked. Google Trends data shows worldwide searches for “Bitcoin” reached a score of 100 for the week starting Feb. 1, the highest level in the past 12 months, as the price fell to $60,000 on Tuesday, a level not seen since October 2024.
Meanwhile, BlackRock’s spot Bitcoin exchange-traded fund (ETF) saw $231.6 million in inflows on Friday, following two days of heavy outflows during the turbulent week for the asset.
Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation: Santiment founder
South Korean cryptocurrency exchange Bithumb says it has resolved an incident in which a promotional reward error credited certain user accounts with excess Bitcoin.
In a Sunday statement, the exchange confirmed it recovered 99.7% of the overpaid Bitcoin (BTC) on the same day the incident occurred. The remaining 0.3%, totaling 1,788 Bitcoin that had already been sold, was covered using company funds to ensure customer balances remained fully matched.
“Bithumb’s holdings of all virtual assets, including Bitcoin (BTC), are 100% equivalent to or exceeding user deposits,” the exchange wrote.
According to Bithumb, most of the excess Bitcoin was retrieved directly from accounts, while the portion already liquidated in the market required reimbursement from corporate reserves.
Related: Bithumb flags $200M in dormant crypto assets across 2.6M inactive accounts
Bithumb rolls out compensation plan
The exchange also announced some compensation measures. Users connected to the platform at the time of the incident will receive 20,000 Korean won ($15) each. Traders who sold Bitcoin at unfavorable prices during the disruption will receive full reimbursement of their sale value plus an additional 10% payment. The platform will also waive trading fees for all markets for seven days starting Monday.
The incident began on Friday when a system issue during a promotional event credited some users with an unusually large amount of Bitcoin, briefly causing sharp price swings on the exchange when recipients began selling the funds. The platform quickly restricted affected accounts and stabilized trading within minutes, preventing broader liquidations.
The exchange said the incident was not related to hacking and that no customer assets were lost, with deposits and withdrawals continuing as normal. While the company did not disclose the total amount involved, some users claimed roughly 2,000 BTC had been credited.
Related: South Korean lawmaker faces scrutiny over family ties to crypto exchange: Report
Centralized crypto exchanges face operational issues
Centralized cryptocurrency exchanges have continued to encounter operational problems. In June, Coinbase said account restrictions had been a major issue and reported reducing unnecessary freezes by 82% after upgrading its machine-learning systems and internal infrastructure, following years of complaints from users locked out of accounts for months without any security breach.
Similar concerns emerged during the Oct. 10 market sell-off, when Binance users reported technical difficulties that prevented some traders from closing positions at peak volatility. While the exchange said its core trading system remained operational and blamed broader market conditions for most liquidations, it later distributed about $728 million in compensation to affected users.
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Crypto World
Trump disclaims UAE World Liberty stake knowledge, Gemini exits, China bans yuan stablecoins | Weekly Recap
In this week’s edition of the weekly recap, President Donald Trump denied awareness of reported UAE investment in World Liberty Financial, and China’s central bank joined nine agencies in banning unapproved yuan-linked stablecoins. Trump distances himself from World Liberty investment…
TLDR:
- Forward Industries holds nearly 7 million SOL tokens, more than its next three competitors combined.
- FWDI’s average SOL acquisition cost of $232 creates $1 billion unrealized loss at current $85 price.
- The company’s debt-free balance sheet enables offensive consolidation while rivals face selling pressure.
- Forward raised $1.65 billion in 2025 from Galaxy Digital, Jump Crypto, and Multicoin Capital backing.
Forward Industries controls nearly 7 million SOL tokens as the largest publicly traded Solana treasury company. The firm’s holdings face substantial unrealized losses amid current market conditions.
Unlevered Balance Sheet Provides Strategic Advantage
FWDI purchased its SOL holdings at an average price of $232 per token. Current valuations place SOL near $85, creating a paper loss approaching $1 billion. The company’s share price has declined from $40 to approximately $5.
Chief Investment Officer Ryan Navi maintains the firm can consolidate weaker competitors during this downturn. “Scale plus an unlevered balance sheet is a real advantage in this market,” Navi told CoinDesk. “We can play offense when others are playing defense,” he added.
Forward Industries operates without corporate debt or leverage on its balance sheet. “Forward Industries has strategically avoided leverage and debt by design,” Navi explained. This structure provides flexibility to deploy capital when market opportunities emerge.
The firm raised $1.65 billion through a private investment in public equity during 2025. Galaxy Digital, Jump Crypto and Multicoin Capital led the funding round. Forward Industries now holds more SOL than its next three public competitors combined.
Staking Strategy and Permanent Capital Model
Forward Industries stakes its SOL holdings to generate yields between 6% and 7%. The staking rate will decrease over time as Solana’s programmed issuance declines. This creates an increasingly disinflationary supply environment for the network.
The company partnered with Sanctum to launch fwdSOL, a liquid staking token. This instrument earns staking rewards while functioning as collateral in decentralized finance protocols. Forward can borrow against this collateral at rates below the staking yield on platforms like Kamino.
Navi positions Forward Industries as a permanent capital vehicle rather than a short-term trading operation. “We’re not running a trading book, we’re building a long-term Solana treasury,” Navi stated. The company plans to underwrite real-world assets and tokenized royalties that exceed its cost of capital.
Kyle Samani announced his departure as managing director of Multicoin Capital on Wednesday. He retains his position as chairman of Forward Industries. Samani is receiving his exit from the Multicoin Master Fund in FWDI shares and warrants instead of cash redemption.
“What differentiates Forward is discipline: no leverage, no debt,” Navi said. The firm maintains a long-term view on Solana as strategic infrastructure rather than a speculative bet. Management believes its debt-free structure positions it to lead sector consolidation during this challenging period.
El Salvador President Nayib Bukele continues to command overwhelming public support, even as the country’s landmark Bitcoin policy shows limited traction among citizens.
Key Takeaways:
- Bukele holds a 91.9% approval rating, driven mainly by improved security and falling crime.
- Bitcoin adoption among citizens remains limited despite its legal tender status.
- El Salvador continues accumulating Bitcoin even while negotiating with the IMF.
A new survey published by Salvadoran newspaper La Prensa Gráfica found that 91.9% of respondents approve of Bukele’s performance in office.
Of the 1,200 people polled, 62.8% said they strongly approve of the president, while only 1.8% expressed strong disapproval. Bukele reacted sarcastically to the figures on X, writing, “So now they’re 1.8%?”
Crime Reduction Fuels Bukele Support Despite Bitcoin Experiment
The results suggest that the administration’s popularity is being driven largely by domestic policy rather than cryptocurrency.
According to the poll, improved security conditions ranked as the main reason for public support.
Since taking office in 2019, Bukele has launched an aggressive crackdown on gangs and opened the Terrorism Confinement Center (CECOT), a large-scale prison designed to hold suspected gang members.
Homicide rates have fallen sharply compared with previous years, a change widely cited by residents as the government’s biggest achievement.
By contrast, the president’s Bitcoin initiative appears to carry little weight in public opinion. Only 2.2% of respondents described Bitcoin as the biggest failure of Bukele’s six-year presidency, and the cryptocurrency was otherwise barely mentioned in the survey.
The muted reaction reflects a broader pattern: while the country made history in 2021 by adopting Bitcoin as legal tender and requiring businesses to accept it where possible, everyday usage has remained limited.
Bukele himself acknowledged the gap in a 2024 interview with TIME, saying the project did not achieve the widespread adoption authorities initially expected.
The policy also drew criticism from international lenders, particularly the International Monetary Fund, which repeatedly warned about fiscal and financial stability risks.
Despite those concerns, El Salvador has not stepped away from accumulating Bitcoin.
Government officials say the country has continued buying one Bitcoin per day since 2022, a strategy Bukele has publicly pledged to maintain. Online trackers linked to the government’s Bitcoin office indicate the national reserves are still growing.
San Salvador recently reached a financing agreement with the IMF that included scaling back certain crypto-related initiatives, but the administration has signaled that purchases for state reserves will continue.
IMF Presses El Salvador as Chivo Wallet Sale Looms
In December last year, the IMF said its ongoing talks with El Salvador over Bitcoin policy are focused on improving transparency, protecting public funds and reducing financial risks.
As part of the discussions, authorities are negotiating the potential sale or shutdown of the government-run Chivo wallet, which has faced complaints about fraud, identity theft and technical problems since launch.
Officials had previously signaled the app could be wound down while private crypto wallets continue operating in the country.
El Salvador secured a $1.4 billion IMF loan in 2024 after tensions linked to its Bitcoin adoption. The IMF’s latest review noted stronger-than-expected economic performance, projecting real GDP growth of about 4% this year with positive prospects for the next.
The post El Salvador’s Bukele Approval Hits Record 91.9% Despite Tepid Bitcoin Adoption appeared first on Cryptonews.
Polygon price crashed and erased all the gains it made earlier this year despite its strong fundamentals, including its growing market share in the payment industry and its growing burn rate.
Summary
- Polygon price has crashed and erased most of the gains it made earlier this year.
- Data shows that its payment transaction volume has soared in the past few months.
- Technical analysis suggests that the token will rebound in the coming weeks as it has formed a double-bottom pattern.
Polygon (POL), whose ticker was previously known as MATIC, was trading at $0.095, down sharply from the year-to-date high of $0.1853. It remains much lower than its all-time high.
POL price crash coincided with the ongoing crypto market dip that has affected Bitcoin and most altcoins. It also happened as Vitalik Buterin criticized layer-2 network. He believes that these networks will likely struggle in the future as Ethereum has largely solved some of the scaling challenges it had in the past.
Ethereum is now substantially faster than it was a few years and its upcoming upgrades will make it faster. Also, its transaction costs have continued falling in the past few years.
Buterin believes that layer-2 networks that will survive are those that will solve key challenges and focus on key niches. Polygon has largely succeeded in this by focusing on the payment industry.
For example, data shows that it has the second-highest monthly USDC addresses after Solana. Its stablecoin P2P transfer volume has jumped to over $39 billion. The top players using its chain are Tazapay, which handled over $687 million in January.
Revolut handled over $50 million, while Stripe, Paxos, Moonpay, and Avenia Pay handled millions of dollars in volume. These networks will likely continue experiencing more volume in the near term, benefiting Polygon.
The rising growth, together with its strong market share in the predictions market, has led to a surge in network fees. Data compiled by Nansen shows that its network fees jumped by double digits, while the burn rate has soared in the past few months.
Polygon price technical analysis
The daily timeframe chart shows that the POL price has retreated sharply in the past few weeks, moving from a high of $0.1853 in January to a low of $0.0841 last week. This drop coincided with the broader crypto market crash.
POL price has formed a double-bottom pattern, whose neckline is at $0.1853. A double-bottom is one of the most common bullish reversal signs in technical analysis.
Therefore, the most likely POL price prediction is bullish, with the initial target being at $0.1500, which is about 57% above the current level. A drop below the key support level at $0.0845 will invalidate the bullish outlook and point to more downside.
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