24H Hot Cryptocurrencies and Key News｜BTC Briefly Falls Below $88,000; Prediction Market Weekly Fees Hit Record High (January 21)
- Core View: The cryptocurrency market as a whole is in a consolidation phase, with mainstream coins generally declining. However, institutional capital is showing signs of re-entering, indicating the market structure is evolving in a constructive direction.
- Key Elements:
- Divergent Market Performance: Mainstream coins like BTC and ETH have fallen over 4% in 24 hours, while some tokens like AXS have bucked the trend with gains exceeding 18%, indicating internal market rotation.
- Institutional Fund Movements: A Glassnode report points to strong inflows into U.S. spot Bitcoin ETFs, suggesting institutional investors are re-accumulating BTC holdings.
- Regulatory and Policy Progress: The U.S. CFTC Chairman stated that Congress is close to passing the Digital Asset Market Transparency Act, while Hong Kong announced it has completed the initial infrastructure for virtual asset regulation.
- On-Chain Data Signals: Prediction market weekly fee revenue exceeded $2.7 million, hitting a record high, reflecting active on-chain activity; Bitcoin network active addresses and transfer volume have also shown improvement.
- Project Developments and Risks: The Cardano Foundation is advancing governance delegation, Pendle has launched a new staking mechanism; concurrently, prominent trader "Machi Big Brother" incurred losses of $4.3 million within a week, highlighting the risks of high leverage.
1. Hot Tokens on CEXs
Top 10 CEX Trading Volume and 24-hour Price Changes:
- BTC: -4.14%
- ETH: -7.26%
- SOL: -4.81%
- XRP: -3.65%
- BNB: -5.46%
- DOGE: -2.61%
- SUI: -3.89%
- TRX: -4.28%
- AXS: +18.33%
- ADA: -3.06%
24-hour Top Gainers (Data Source: OKX):
- AXS: +18.06%
- AERGO: +12.35%
- IP: +11.26%
- MEME: +9.25%
- PHA: +7.80%
- SSV: +6.58%
- ZRO: +5.81%
- SLP: +5.11%
- MAJOR: +3.51%
- PAXG: +3.23%
24-hour Top Gainers - Tokenized Stocks (Data Source: msx.com):
- ProShares UltraShort Ether ETF - MSX (ETHD.M): 21.55%
- T-Rex 2X Inverse MSTR Daily - MSX (MSTZ.M): 17.22%
- ProShares UltraShort Bitcoin ETF - MSX (SBIT.M): 14.76%
- Silver Spot ETF 2x Long - MSX (AGQ.M): 13.31%
- GraniteShares ETF Trust GraniteShares 2x Short COIN Daily ETF - MSX (CONI.M): 12.87%
- Sandisk Corporation - MSX (SNDK.M): 11.02%
- Ondas Holdings Inc. - MSX (ONDS.M): 9.05%
- Gold Index 2x Long ETF - MSX (UGL.M): 8.87%
- ETFS Physical Platinum Shares - MSX (PPLT.M): 8.22%
- TSLA Daily 2x Short - MSX (TSLQ.M): 8.05%
2. Trending On-chain Memes (Data Source: GMGN):
- 1;
- Kuku Horse.
Headlines
BTC Briefly Falls Below 88,000 USDT, Down 5.18% in 24H
OKX market data shows BTC has fallen below 88,000 USDT, down 5.18% in the last 24 hours.
Prediction Markets Set New Record with Over $2.7M in Weekly Fees
According to Dune data, prediction markets have generated over $2.7 million in fee revenue in a single week, setting a new historical record. Opinion markets accounted for 54.3% of this, with Polymarket's 15-minute price movement markets generating $787,000 in revenue, constituting 28.4% of the total fee income.
Crypto assets have added approximately $1.4 billion to the Trump family's wealth over the past year. Cryptocurrencies now account for about one-fifth of their total estimated net worth of $6.8 billion, marking the first time this proportion has reached this level. During Trump's second term, the family gained significant returns through new ventures including the crypto platform World Liberty Financial, which he co-founded, the meme coin named after him, and the Bitcoin mining company American Bitcoin Corp. The valuation of World Liberty's platform token and its USD1 stablecoin business is notable. Meanwhile, the stock price of his social media company, Trump Media & Technology Group, has fallen 66% over the past 12 months, partially offsetting the crypto gains. Family members have also invested in companies like SpaceX through the venture capital firm 1789 Capital and expanded the Trump Organization's global real estate licensing business. The White House press secretary responded that the administration is fulfilling the President's promise through executive actions and policies to make the U.S. the world's capital for crypto. (Bloomberg)
Machi Big Brother's Long Positions Fully Liquidated, Loses $4.3M in a Week, Opens New 600 ETH Long
According to Hyperbot data, as the market continued to decline, Machi Big Brother's (0x020c...5872) long positions were completely liquidated. The address subsequently opened a new long position of 600 ETH, with a position value of approximately $1.762 million, an entry price of $2,941.68, and a leverage of 22.84x. The account's available margin is currently 0, with total losses reaching $4.3 million over the past week. The account's total loss has risen to $22.83 million. The current liquidation price for the position is $2,865.54.
Industry News
CFTC Chair: Congress on the Verge of Passing the Digital Asset Market Transparency Act
The Chairman of the U.S. Commodity Futures Trading Commission (CFTC) stated that Congress is currently on the verge of passing the Digital Asset Market Transparency Act. The Chairman indicated that a tailored regulatory framework will be used to ensure these markets thrive domestically in the United States.
Bitmine Gains Investor Support to Increase Share Limit, But Does Not Mean Immediate New Issuance
Ethereum treasury company Bitmine Immersion Technologies has received shareholder approval to increase its authorized shares. The proposal received 81% approval. However, this proposal does not mean new shares will be issued immediately, but rather raises the ceiling for the number of shares the company can issue in the future. Currently, Bitmine holds 4.203 million ETH (approximately 3.5% of the circulating supply), 193 BTC, and $22 million worth of shares in Eightco Holdings, in addition to nearly $1 billion in cash.
The Hong Kong Securities and Futures Professional Association stated that the Hong Kong government plans to announce the 2026/2027 Financial Budget on February 25th, focusing on areas such as virtual assets and investor protection. Hong Kong has completed the initial regulatory infrastructure for virtual assets. The next step should shift focus to the commercialization and implementation of applications. By unlocking secondary market liquidity for RWA, accelerating product approvals, introducing international liquidity, and strengthening practitioner training, Hong Kong can upgrade from a market with clear regulations to a global virtual asset center with ample liquidity and widespread application, aligning with the national "15th Five-Year Plan's" financial opening and digital economy strategy.
South Korea Charges Three Chinese Nationals in $102 Million Cryptocurrency Money Laundering Case
South Korea's Customs Service announced the transfer of three Chinese nationals suspected of involvement in a cryptocurrency money laundering scheme to prosecutors. The suspects are accused of transferring approximately 150 billion won (about $101.7 million) through illegal foreign exchange operations between September 2021 and June 2023. The Korea Customs Service stated that the suspects used domestic and foreign cryptocurrency accounts along with Korean bank accounts to transfer funds under the guise of paying for plastic surgery and overseas education expenses. The scheme involved purchasing cryptocurrency overseas, transferring it to South Korea, then converting it to Korean won and dispersing it into local bank accounts to evade supervision. The three individuals have been transferred to prosecutors for violating South Korea's Foreign Exchange Transactions Act.
Project News
Dogecoin Foundation-Backed House of Doge Plans to Launch DOGE Payment App "Such"
A team backed by the Dogecoin Foundation is developing a DOGE payment and commerce application called "Such," aiming to extend the utility of the meme coin beyond trading. The app is being developed by House of Doge, the official corporate arm of the Dogecoin Foundation, and its Nasdaq-listed merger partner Brag House Holdings. Such, expected to launch in the first half of 2026, is a consumer-facing product combining self-custody with built-in commerce tools. Its features will include self-custody wallet creation, real-time transaction activity, and merchant tools called "Hustles." Timothy Stebbing, CTO of House of Doge, stated the app aims to enable anyone to conduct business using Dogecoin.
World Liberty Financial to Host Flagship Forum at Mar-a-Lago
According to market sources: The Trump family's crypto project, World Liberty Financial, will host its flagship forum at Mar-a-Lago on February 18, 2026, planning to release more breakthrough announcements. Attendees will include Goldman Sachs Chairman and CEO David Solomon, Franklin Templeton CEO Jenny Johnson, CFTC Chairman Michael Selig, FIFA President Gianni Infantino, and WLFI co-founders Eric Trump and Donald Trump Jr., among others.
The Cardano Foundation posted on X that it has completed the first milestone of its governance roadmap, newly delegating approximately 220 million ADA (about 20 million each) to 11 community representatives (DReps), focusing on the two key directions of ecosystem Adoption and Operations. This increases the total amount currently delegated by the Foundation to community DReps to 360 million ADA. Simultaneously, the Foundation will self-delegate the remaining approximately 171 million ADA to ensure all assets participate in governance.
Pendle Launches sPENDLE Liquid Staking Token, Replacing vePENDLE Multi-Year Lock Model
DeFi project Pendle announced the launch of the sPENDLE liquid staking token, officially replacing the previous vePENDLE multi-year lock mechanism. The new system reduces the withdrawal period from years to 14 days while introducing transferable, composable token characteristics, simplifying user participation. According to Pendle, the original vePENDLE system attracted only about 20% of the token supply to participate, the lowest among similar models. The new mechanism will utilize up to 80% of protocol revenue for PENDLE buybacks and introduce an algorithmic emission model, expected to reduce overall emissions by approximately 30%. Existing vePENDLE holders will receive a maximum 4x reward multiplier based on their remaining lock-up period, which will linearly decay over two years.
Voices
Solana Labs co-founder toly posted on X, stating that if the SKR price were at a low level similar to Solana's initial CoinList auction, it would allow developers to fully enjoy the benefits of early participation and create a natural filtering mechanism for true long-termists, ultimately rewarding early adopters who invest significant time and effort. toly added that whenever token prices rise rapidly in the short term, it raises concerns because excessively high market expectations are difficult to sustain, and building a truly prosperous ecosystem typically requires a cycle as long as 10 years.
CZ posted on X, jokingly asking: "Who needs a punch bag?". He reiterated that if anyone creates or buys meme coins based on the content of his tweets, he is likely to not mention the related terms for a very long time, possibly never again, and clearly stated he does not recommend such speculative behavior.
Glassnode's Monday market analysis weekly report shows a significant reversal in U.S. spot Bitcoin ETF flows, indicating strong inflows, suggesting institutional investors are re-accumulating BTC holdings. Although ETF trading volume has risen accordingly, the accompanying risk of profit-taking still requires attention. Bitcoin has retreated from its recent high near $98,000 to around $90,000. While the Relative Strength Index (RSI) on January 14th retreated, it remains above neutral levels, indicating the market is in a consolidation phase rather than a deteriorating trend.
Spot trading volume increased moderately, with the net buy/sell imbalance breaking through statistical upper limits, reflecting a significant reduction in selling pressure, but demand remains cautious. A slight increase in futures open interest shows speculators are cautiously rebuilding positions; a sharp drop in funding rates indicates reduced urgency among longs. The options market still prices in higher uncertainty, with demand for downside protection persisting. On-chain activity is stabilizing, with improvements in active address counts and transfer volume, and network fees slightly rising.
The supply held by short-term holders remains high, making the price sensitive to volatility. Overall, Bitcoin is in a consolidation pattern, but buying power is strengthening. Coupled with the return of institutional interest, the market structure is evolving in a more constructive direction.
