On January 9th, according to OnchainLens monitoring, a newly established address withdrew 1.39 million USDT from Binance and bought 328608 JLP at an average price of $4.24.
According to the 4-hour cycle display, the member indicator has detected the formation of a top tier pattern, with prices falling from 3447 to 3327, accompanied by a 26.56% increase in trading volume and enhanced downward momentum. The distribution of chips shows that the 3125-3140 area is strongly supported, with buying accounting for 93.6%. However, the current price is far away from this area, and the EMA24 (3350) support may continue to be tested in the short term. The combination of KDJ dead cross and MACD double top pattern confirms the pullback pressure. If it falls below 3300, the next target will be the chip intensive area of 3132. Unlock member indicators, accurately capture reversal signals, and take the lead in layout! The data is sourced from the PRO member's [ETH/USDT Binance 4-hour] K-line, for reference only, and does not constitute any investment advice.
Bitmine further purchased 33504 ETH worth $112 million from FalconX. （Onchain Lens）
[a16z Crypto Expands into the Asian Market and Establishes First Office in Seoul, South Korea] Venture capital firm a16z Crypto will open an office in Seoul, South Korea. Chief Operating Officer Anthony Albanese stated that the region accounts for a significant share of global cryptocurrency activity, with plans to expand its business footprint in Asia over the coming years and enhance new capabilities to support locally operating cryptocurrency companies. South Korea is the second-largest cryptocurrency market, with nearly one-third of Korean adults holding cryptocurrencies. The company has appointed Sungmo Park, former Head of Asia-Pacific at the Monad Foundation, to lead its Asia-Pacific operations.
[Charles Schwab Analyst Says Fed Rate Cuts May Provide Short-Term Support for Risk Assets but Volatility Likely to Remain Elevated] Charles Schwab analyst Richard Flynn stated that the Federal Reserve is sending a cautious signal by taking preemptive action in the face of rising downside risks, particularly amid sluggish global growth and ongoing policy uncertainty. For investors, this is a measured adjustment rather than a dramatic shift. While the rate cut may provide short-term support for risk assets and drive a seasonal 'Santa Claus rally,' volatility is likely to remain elevated as the market assesses its impact on future policy and economic outlook.
[Trump Criticizes Fed's Rate Cut as Too Small and to Interview Kevin Warsh for Chair Position] U.S. President Trump on Wednesday criticized the Federal Reserve for its third consecutive 25-basis-point rate cut, calling the reduction too small and suggesting it should have been at least doubled. He accused Powell of being inflexible. Trump stated that he would interview former Fed Governor Kevin Warsh that day as a candidate for the chair position, emphasizing his view that interest rates should be significantly lowered and that he is seeking a candidate who is honest about rate issues. The selection process for the Fed chair is nearing its conclusion, with National Economic Council Director Kevin Hassett considered a frontrunner. Other finalists include Christopher Waller, Michelle Bowman, and BlackRock's Rick Rieder. A final decision may be announced within the next two weeks.