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Gate Exchange's latest reserve report shows that the platform's total reserve ratio has increased to 125%, with a total reserve size reaching $9.478 billion, covering nearly 500 types of user assets. The core assets BTC and ETH have a significantly increased excess reserve rate, and the total number of USDT stablecoin users has grown to 1.385 billion, reflecting the platform's commitment to strengthening user asset protection.

Pump.fun recently announced a major overhaul of its creator reward mechanism, introducing flexible fee sharing and token ownership transfer features, supporting income sharing with up to 10 wallets, and optimizing permission management to enhance project stability. These updates aim to reduce operational complexity and improve management convenience for creators.

The crypto market will experience a large unlock event in the coming week, involving tokens such as ONDO, TRUMP, and others, with a total unlock amount exceeding $1.69 billion. This could put pressure on the market, especially for more volatile tokens like SOL and TRUMP. Investors should proactively manage risks or consider buying the dip.

The Financial Secretary of Hong Kong revealed at the public consultation on the financial budget that progress on stablecoin policies is going smoothly, and citizens have suggested using gold as the pegged asset. The government will consider this suggestion after completing the first phase of the framework and stated that they will carefully assess the related risks and feasibility, demonstrating a proactive yet prudent attitude.

TRX plays a key role in stablecoin liquidation, with USDT's weekly trading volume clearly leading. It is supported by fee burning and staking functions. Technical analysis shows a bullish structure, with the price rebounding from $0.272 and facing the psychological barrier at $0.30. Once broken, the upward potential could reach $0.324 and $0.347, but if it falls below $0.29, a reassessment of the bullish trend is needed.

Hsiao-Wei Wang from the Ethereum Foundation stated that Ethereum is accelerating the application of zero-knowledge cryptography, planning to achieve native zkEVM to reduce computational costs and enhance on-chain scalability. The network's risk resistance and security remain core values.

CZ recently commented on the market, pointing out that a "super cycle" may be approaching, but emphasized that it is impossible to accurately predict the future and that one should focus on their own accumulation. He mentioned that the U.S. Securities and Exchange Commission's removal of the "cryptocurrency asset" positive signal is optimistic, but also reminded people not to over-interpret short-term market fluctuations.

The importance of stablecoins in the global financial system is increasing, especially with USDT accounting for 80% of revenue settlements in Venezuela's oil trade. It provides the public with a means of asset protection, reflecting the demand in a challenging economic environment. At the same time, the United States may strengthen regulation of blockchain to track the flow of funds.

Hyperliquid platform data shows a total position of $6.495 billion, but the long and short positions are clearly diverging, with shorts slightly ahead. Long positions are floating at a loss of $161 million, while shorts are profitable by $238 million. A whale went all-in on longs when ETH price was $3,147.39, now with a floating loss of over $10 million, reflecting the current market pressure on longs.

A $2.2 million TRUMP token transfer has attracted attention, as the holder, after 8 months of holding, attempts to cash out. Despite the high transfer amount, an estimated loss of $2.5 million is expected, highlighting the volatility of the market and the risks of long-term holding.

On January 10th, the crypto market experienced intense volatility. In the past hour, leading cryptocurrencies saw a single liquidation of $1,078,000, with significant pressure on the shorts. The total liquidation amount over 24 hours rose to $114 million, with longs continuing to suffer losses. A total of 61,793 people were liquidated, and Hyperliquid exchange's BTC-USD trading pair even saw the largest single liquidation of $2,519,200.

A major financial institution in the United States has launched a tokenized deposit service, allowing institutional clients to convert cash into digital tokens on the blockchain, enabling efficient and convenient financial transactions. This indicates that tokenization innovation is gradually integrating into the mainstream financial system, receiving substantial investment and attention from institutions.

Indonesia becomes the first country in the world to ban a well-known AI chat tool, due to the platform's rampant pornographic content and other deep-seated social issues. The government emphasizes the need to strengthen content review mechanisms, and in the future, more countries may take similar measures, reflecting the global urgency for AI tool regulation.

DOGE has shown a mixed trend in the past 4 hours, with a slight increase followed by a pullback, remaining overall at previous high levels. Trading volume has significantly decreased, and market activity is insufficient. Technical indicators show no clear trend, and the KDJ indicates weak oscillation. Key buy, sell zones, and stop-loss levels have been clearly defined.

Since its launch in November 2025, XRP spot ETF capital inflows have exceeded $1 billion, but the market remains cautious about its long-term value. Glider co-founder Huang pointed out that the lack of builders and technological innovation may limit the project's growth potential, leading to low interest from institutional investors and reflecting market concerns about its ecosystem development.

Analysts point out that long-term Bitcoin holders experienced intense selling in 2025, but this sell-off could pave the way for the next rally. Nearly $300 billion worth of Bitcoin re-entered the market last year, signaling a cycle reset. Recent data indicates that long-term holder supply is stabilizing, and the market may be brewing a rebound, with a sustained increase expected in the third quarter of this year.

Q4 the total market capitalization of the crypto market declined by 25%-27%, with Bitcoin dropping from $126,000 to $80,000. Despite the downturn, stablecoins remained stable, and large investors accumulated chips through stablecoins. Meanwhile, trading activity on decentralized exchanges increased, and the market ecosystem is changing.

Recently, a wallet that acquired LA tokens 5 months ago transferred $1.6 million worth of LA to a major exchange, indicating partial liquidation. The wallet still holds $13.8 million worth of LA, demonstrating a substantial holding. This large transfer has attracted community attention, and subsequent developments are worth monitoring.

Bitcoin has currently fallen below a key support level, but long-term holders remain steadfast. Market sell-offs are mainly driven by short-term traders. Bitcoin is fluctuating in the $88,000-$92,000 range. Whether it can regain the $98,000-$102,000 level will determine its future trajectory. There is still hope in the market.