Summary
gm, Bitcoin experienced a notable correction, dropping 4.4% to around $100,387, while Ethereum fell 5.9% to $3,140. MicroStrategy, led by Michael Saylor, continued its Bitcoin accumulation strategy, now holding 461,000 BTC valued at approximately $48.4 billion. Meanwhile, Coinbase CEO Brian Armstrong proposed reevaluating the exchange's asset listing process due to the surge in new token creation, highlighting the evolving landscape of cryptocurrency exchanges. In the altcoin space, several tokens, including Solana (SOL), Chainlink (LINK), and MANTRA (OM), showed bullish signs despite the overall market downturn, indicating potential opportunities for diversified crypto portfolios.

News Headlines
🚀 Chinese Open-Source AI DeepSeek R1 Matches OpenAI at 98% Lower Cost

  • Chinese researchers developed DeepSeek R1, a free, open-source AI model that matches or surpasses OpenAI's advanced reasoning systems.
  • The model's operational cost is just 3% of OpenAI's models, putting pressure on better-funded firms and proprietary models.

💼 MicroStrategy Continues Bitcoin Accumulation

  • MicroStrategy co-founder Michael Saylor indicated a potential Bitcoin purchase following the company's recent acquisition of 11,000 BTC.
  • MicroStrategy holds 461,000 BTC, surpassing the holdings of the U.S. government.

🔄 Ethereum Developers Urged to Implement More Protocol Updates

  • Crypto venture capital firm Paradigm argues that Ethereum developers need to implement more protocol updates to progress towards the network's ambitious roadmap.
  • The firm suggests that Ethereum's core values can coexist with a faster shipping process, enabling swift problem-solving and innovation.

🎮 Crypto Gaming Updates: TON Exclusive to Telegram, Betting with TRUMP

  • Telegram and The Open Network Foundation announced an exclusive partnership mandating Telegram mini apps to integrate crypto.
  • The Rivalry crypto casino introduced the TRUMP meme coin for deposits and wagers, offering special rewards until February 1.

🔍 AI Tokens Struggle Amid DeepSeek's Efficient Model

  • AI tokens are experiencing notable losses, with some down nearly 20%, following the rise of China's DeepSeek efficient AI model.
  • This situation suggests a shifting landscape where efficiency and user attraction are vital for success in the crypto AI sector.

Market Metrics

Fundraising & VC
No fundraising data today.

On-chain Data
1. Grass (GRASS) token unlocked today ($6.57M, 1.52%)
2. Geodnet (geod) token unlock in 1 day ($4.49M, 4.82%)
3. Open Campus (EDU) token unlock in 1 day ($8.40M, 7.24%)
4. SingularityNET (AGIX) token unlock in 1 day ($1.04M, 0.52%)

Regulatory
🚫 Brazil Bans Worldcoin's Crypto-for-Eye-Scans Program

  • Brazil's data protection authority has prohibited World Network (Worldcoin) from offering cryptocurrency in exchange for iris scans, citing concerns over consent validity and data protection.
  • This decision follows similar regulatory actions in Germany and could impact the future of biometric data collection in crypto projects.

🚀 Elon Musk's DOGE Explores Blockchain for Government Efficiency

  • The Department of Government Efficiency (DOGE), led by Elon Musk, is considering using a public blockchain to enhance transparency and efficiency in government operations.
  • This initiative could potentially revolutionize government spending and data management, with implications for blockchain adoption in public sectors.

🏛️ Nine U.S. States Consider Bitcoin Reserves Amid Price Surge

  • Nine states, including Texas and Pennsylvania, are exploring legislation to establish Bitcoin reserves, potentially investing billions in the cryptocurrency.
  • This trend signals a growing acceptance of Bitcoin in public finance and could have significant implications for state financial strategies.

🎨 Memecoins and Art Market Share Similar Economics, Says CryptoQuant CEO

  • Ki Young Ju, CEO of CryptoQuant, draws parallels between memecoin and art market valuations, predicting the memecoin market will mature over the next five years.
  • This perspective offers insights into the future of memecoins and their potential impact on the broader cryptocurrency market.

📊 New Crypto ETFs on the Horizon: Dogecoin, XRP, and Solana Lead

  • Following Bitcoin and Ethereum ETF approvals, issuers are now targeting new cryptocurrencies like Dogecoin, XRP, and Solana for ETF applications.
  • If approved, these ETFs could attract billions in investments and significantly expand the cryptocurrency market's accessibility to traditional investors.

Technical Analysis
Bitcoin - Bitcoin is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The currency has broken a head and shoulders formation. A decisive break, preferably with increasing volume, is considered a confident signal of the start of a falling trend. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 92500 points. The currency is overall assessed as technically neutral for the short term.

Ethereum - Ethereum shows weak development in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. The currency has marginally broken down through support at points 3170. An established break predicts a further decline. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. Volume balance is also negative, which confirms the trend. The currency is overall assessed as technically negative for the short term.

Governance & Code
⚔️ Spartan Council | Deploy Velodrome and S to Perps V3 Base (Active Vote)
- This proposal aims to deploy markets for Velodrome (VELO) and Sonic (S) on Perps v3 Base.

⚖️ Ampleforth DAO | Deploy Unused DAO AMPL into Rotation Vault
- This proposal aims to allocate up to 5.5 million AMPL into the Rotation Vault to "enable SPOT supply growth for Boostrap."