HashBandit

According to Defillama data, Meteora's revenue in the past 24 hours reached $1.33 million, surpassing Pump.fun's $1.16 million, indicating liquidity shifts and intense competition within the DeFi market. Currently, Tether and Circle lead with revenues of $16.45 million and $6.6 million respectively, and Meteora has become a market focus as user enthusiasm for emerging protocols rises.

The crypto market is embroiled in controversy over the CLARITY bill. Coinbase CEO Armstrong plans to withdraw support, believing it is worse than having no bill at all; meanwhile, Kraken CEO Sethi and others advocate resolving differences through negotiations. Industry insiders warn that the current favorable policy environment is rare and urge seizing the opportunity to ensure the continued innovation in crypto.

As of January 18, the number of ETH waiting in the Ethereum validator queue to enter the PoS network exceeds 2.59 million, mainly driven by BitMine promoting staking. Meanwhile, the staking exit queue has been completely cleared, indicating increased confidence among participants in the Ethereum ecosystem and reflecting a change in market attitude towards the PoS mechanism.

In the past week, Solana has performed outstandingly, with active addresses reaching 27.1 million, a 56% increase week-over-week. The transaction volume is 515 million, ranking first. Although BNB Chain and Tron follow closely, Solana's popularity is indeed rising, attracting more funds and user participation.

Axie Infinity launched the non-tradable token bAXS on January 18th, aiming to reduce inflation rewards and adjust the SLP reward system. The move immediately triggered market reactions, with AXS and other related tokens rising across the board. The blockchain game sector performed notably well, while the entire cryptocurrency market remained volatile.

dYdX Foundation announces its 2025 ecosystem development achievements, with a total trading volume exceeding $1.55 trillion, demonstrating the continued rise in on-chain derivatives acceptance. The second quarter trading volume was approximately $16 billion, doubling to $34.3 billion in the fourth quarter, indicating strong market demand for derivatives. Additionally, DYDX has launched a token buyback program, increasing the buyback scale to 75% of protocol net revenue, with approximately 98,000 token holders, reflecting increased participation.

ZEC's recent price hovers around $402, facing the risk of falling below $400. Despite large investors purchasing 76,000 ZEC, the price remains weak. On-chain data shows spot market accumulation, but ZEC is still below key moving averages, indicating structural weakness and the need to wait for a true reversal.

The US cryptocurrency industry faces the problem of a lack of regulatory rules for developers. The CLARITY Act aims to provide a legal framework, but it still needs to be optimized and accelerated to prevent developers from moving to other countries, which could impact the innovation ecosystem.

In 2025, cryptocurrency scams surged dramatically, with illegal addresses siphoning over $14 billion, and impersonation scams increasing by 1400% year over year. AI has fueled criminal revenue, with Asia becoming a major hotspot, and the average victim loss rising significantly. Law enforcement agencies have intensified crackdowns, but users need to stay vigilant to avoid falling into traps.

The Ethereum Foundation announced the winners of the x402 Hackathon. Superfluid's x402-sf enables on-chain subscription payments, peterssson.eth's Cheddr optimizes high-frequency small payments, and BackTrackCo's x402r addresses refund process issues. These projects demonstrate the diversification of DeFi payment layer explorations.

A major exchange announced the delisting of USDT perpetual contracts for four tokens: BID, DMC, ZRC, and TANSSI, leading to mixed market reactions. TANSSI experienced a significant increase, while ZRC temporarily declined, and DMC and BID remained stable. Contract delisting typically affects market re-pricing.

Recently, the wave of funding for crypto startups has continued, especially in the fields of payments, exchanges, and trading infrastructure. In the first two weeks of 2026, funding has reached $588 million, with trading infrastructure attracting significant attention, indicating the market's optimistic outlook on future trading volumes. Projects that address real-world problems are gaining more attention.

ElizaOS founder Shaw shared the latest progress in developing a continuous reinforcement learning system, which is used for real-time monitoring of data performance of agents on the Babylon chain. By ranking and evaluating to optimize the system, it achieves the integration of AI and blockchain, promoting ecological self-iteration and efficient development.

On January 17th, on-chain data shows that a whale transferred $7.9 million USDC to the HyperLiquid platform through two wallets, preparing to go long on Ethereum (ETH) and Cardano (ADA), indicating an optimistic outlook on the market.

【Crypto World】This week's cryptocurrency market performance can be described as a tale of two extremes. According to data platform Santiment's monitoring data, the holdings of large Bitcoin holders have shown a significant increase, with institutions and major investors actively positioning themselves. In stark contrast, small retail investors are showing clear signs of exiting the market. The market has experienced a typical polarization—funds are concentrating in the leading assets, while small and medium investors are gradually withdrawing. This shift in pattern often indicates that the market is searching for a new direction.

【Crypto World】There are new developments in the Federal Reserve's policy direction. Market "barometer" Nick Timiraos recently stated that Trump intends to keep Kevin Hasset as the Director of the National Economic Council. The significance behind this personnel arrangement is that—Kevin Waugh, a former Federal Reserve Board member, has become the strongest contender to be the next Federal Reserve Chair.
This is no small matter for the market. The choice of the Federal Reserve Chair directly influences the upcoming monetary policy direction, which in turn affects the entire asset market trend. What kind of policy tone will Waugh's appointment signify? The market is waiting for the answer.

【Blockchain Rhythm】Bitcoin broke below the $95,000 mark today, with a 24-hour decline of 1.42%. This is a more noticeable correction since January 16, and market sentiment has adjusted in the short term.

A Bitcoin Layer-2 network project aims to build an ecosystem similar to Solana, using only BTC as trading pairs, with the goal of transforming meme coins into more standardized tools. This network employs standardized bridges and zero-knowledge proof technology to enhance transaction transparency and security, and launches the HYPER token, offering up to 38% annualized return, attracting investor attention.

【ChainWen】Spot silver faces downward pressure, breaking below the $88/ounce psychological level. The intraday decline reaches 4.72%, hitting a new stage low. This correction in traditional safe-haven assets reflects a subtle shift in market sentiment. For investors with diversified asset allocations, the trend of precious metals is also worth paying attention to.