SOL breaks through the $260 mark

According to Foresight News, Federico0x, CEO of cryptocurrency exchange Phemex, stated that it is expected to resume withdrawal services for USDT and USDC in approximately 6 hours (around 22:00 Beijing time on January 24th), while ensuring the security of the hot wallet is currently the main task. Other services such as MemeX will also be restarted during this period. Foresight News previously reported that there were multiple suspicious transactions in Pheme's hot money package yesterday, and digital assets worth over $29 million have been transferred. Subsequently, Pheme announced that it will temporarily suspend withdrawals.

Odaily Planet Daily News: According to the latest report released by Matrixport, Bitcoin has achieved positive returns during the Chinese New Year period in 11 out of the past 12 years, with a statistically impressive success rate (hit rate) of 83% proving its returns during this period. As a network driven currency, the price increase of Bitcoin is driven by the expansion of its user base. The more people learn about Bitcoin and buy it, the faster its price can rise. Few other events can compare to the impact of Chinese New Year in driving this network effect, making it a unique and important catalyst for Bitcoin's seasonal performance. Bitcoin is currently in a complex interaction of a series of opposing forces. In terms of technology, the daily reversal indicator reached oversold levels last week, suggesting potential support, while the weekly indicator still indicates that Bitcoin is still in an overbought state. In terms of macroeconomics, unfavorable factors such as tightening liquidity and the hawkish stance of the Federal Reserve have brought negative effects. Meanwhile, bullish drivers such as expectations for the establishment of Bitcoin reserves in the United States and the rise of the pro cryptocurrency Trump administration have provided support. Since the FOMC meeting in December 2024, the minting of stablecoins has come to a halt, reflecting a decrease in fiat inflows, but Bitcoin funding rates show early signs of a recovery in trading activity. This tug of war dynamic puts Bitcoin in a consolidation phase. However, as the Chinese Lunar New Year begins on January 29th, this period represents the statistically most favorable 20 day trading window for Bitcoin, potentially providing ample opportunities for long positions. The statistical significance of this rising trend every Chinese New Year cannot be denied, making it one of the most consistent events in Bitcoin history. We discovered this secret two years ago and emphasized it again last year. During these two periods, the price of Bitcoin increased by+26% and+23% respectively, strengthening the reliability of this seasonal trend.

Odaily Planet Daily News: According to SoSo Value data, the total holdings of three Ethereum spot ETFs in Hong Kong are about 19500, setting a new historical high. Among them, Huaxia Fund (Hong Kong) and Jiashi International's spot Ethereum ETF, which are managed by OSL Digital Securities Limited as virtual assets and trading partners, hold over 12800 ETH, accounting for more than 70%.

According to official sources, Jeff Ren, partner of OKX Ventures, was invited to attend the "DeFi Shapes the Future of Finance" themed summit hosted by 1inch on January 23, 2025 during the World Economic Forum in Davos. He gathered with industry leaders from traditional finance and digital asset fields to explore the future development of decentralized finance (DeFi) and its profound impact on the global financial ecosystem. During the event, Jeff Ren hosted a roundtable forum on "Sustainable Growth of Cryptocurrency -2025 and Future Prospects". The guests participating in the discussion included Sergej Kunz, co-founder of 1inch, Quynh Ho, head of GSR Venture, Bill Papp, CEO of Polymesh, and Eric Chiang, venture partner of WAGMI Ventures. They conducted in-depth discussions on key topics such as "The Evolution and Development of DeFi", "Innovation and Disruption in the Blockchain Ecosystem", and "The Wide Application of Decentralization Concepts". In addition, the roundtable forum also closely follows recent hot topics, discussing topics such as MEME culture and Hyperliquid protocol, and analyzing the impact of recent Trump related events on the market.

According to the analysis of OKG Research, unlike Bitcoin's indirect debt resolution, stable currencies such as USDT and USDC are creating more direct demand for US treasury bond. Benefiting from the advancement of US legislation and the increasing global adoption rate of stablecoins, it is expected that the market value of stablecoins will exceed $400 billion by 2025, and the demand for new US bonds will exceed $100 billion. The stablecoin market is expected to rank among the top ten US bond holders in the world. The report points out that if the cryptocurrency market continues to maintain its growth momentum, stablecoins will become an important "invisible pillar" of the US bond market, and their direct demand for US bonds will surpass the indirect returns brought by Bitcoin's strategic reserves.