Arthur Hayes reduced his holdings of various tokens by $26.08 million.

The popularity rankings show that IRYS's popularity has increased by 720,000 compared to yesterday, ranking first. The popularity rankings are as follows: ① IRYS ($0.07452, 108.74%) ② BABY ($0.000004370, -10.60%) ③ XAUT ($3994.53, -0.90%) ④ BIRB （$0.1652，145.61%） ⑤ UN ($0.03911, 54.34%) IRYS saw strong buying pressure from major investors, with a net inflow of $40.0715 million in the past 24 hours and a trading volume of $5.307 billion, of which $1.5918 million was from major investors.

Grayscale released an analysis report warning that token supply growth in cryptocurrency applications could dilute holder rewards and proposing a yield-oriented valuation framework. This framework calculates yield by comparing protocol returns to market capitalization and deducting circulating supply inflation. Among the top 100 tokens by market capitalization in the FTSE Grayscale Financials Crypto Sector, HYPE holders achieved an 8.0% yield, CRV was -5.5%, and CAKE had the highest adjusted yield of 14.4% (data as of October 20). Grayscale distinguishes between buybacks and burns and values Bitcoin separately as a digital commodity.

The Office of the Comptroller of the Currency (OCC) has released the GENIUS Act final stablecoin rules, effective January 18, 2027. The rules remove the automatic 7-calendar-day redemption extension clause, setting the maximum redemption period at 2 business days. Issuers must notify the OCC if redemption requests exceed 10% of the circulating supply within a single 24-hour period, and issuers may not use onboarding defects to delay redemptions. The revised PS-01 report will track outstanding tokens and redemption durations, with initial reporting dates of January 25, 2027, and March 31, 2027.

[Key clue: A large order of $11.99 million appeared in Binance's ETH/USDT pair.] Key area sees silent chip stacking, the market tension remains as the main force holds back—will there be a breakthrough?

Arthur Hayes reduced his holdings of various tokens by $26.08 million, including 8,000 ETH ($19 million), 14 million ENA ($2.76 million), 323,000 UNI ($2.24 million), 1.89 million ETHFI ($1.23 million), 547,000 AERO ($400,000), 120,000 PENDLE ($240,000), and 3 million ZAMA ($210,000). (Ember)