In the past hour, total liquidations across the network reached $10.47 million, with $7.37 million from long positions, with $3.10 million from short positions. BTC liquidation $1.66 million, ETH liquidation $3.74 million.

According to RWAX market and on-chain data, LOVEVoyage ($LOVE), a content-based RWA project under the live-action romance travel IP "Heartbeat Travel," completed its initial trading on RWAX tonight, with a price increase of approximately 52,614.667% within about 10 minutes of listing. It currently ranks first in RWAX's 24-hour trading volume and has since migrated to Pancake. With this listing on RWAX, LOVEVoyage will map a portion of the revenue rights from future seasons of "Heartbeat Travel's" live-action travel romance content to the RWAX platform, integrating it with consumption and governance scenarios such as casting voting, storyline branches, and offline events. This allows fans and on-chain users to participate in IP development and share potential value under the same asset structure. The project team revealed that more voting, support, content unlocking, and offline benefits will be gradually opened up around $LOVE in the future. Specific mechanisms and data progress will be continuously disclosed through official channels and on-chain records.

According to a recent report by blockchain analytics firm Elliptic, the ruble-based stablecoin A7A5 has surpassed $100 billion in on-chain transaction volume since its launch in January 2025. Led by the Russian company A7LLC, the stablecoin aims to help Russian companies circumvent Western sanctions. A7A5 primarily functions as a bridge asset between the ruble and USDT, with a total trading volume reaching $17.3 billion, the vast majority of which occurs on exchanges like Grinex in Kyrgyzstan. Despite the significant trading volume, its growth has been significantly limited since the US and other countries imposed sanctions on A7A5 in August 2025. New token issuance has essentially ceased since the end of July, and daily trading volume has dropped from a peak of $1.5 billion to approximately $500 million. Major DEXs such as Uniswap have added it to their token blocking lists, and USDT liquidity injections into their own DEXs have decreased substantially. Sanctions have resulted in users facing account freezes when transferring USDT from A7A5 to mainstream exchanges, increasingly isolating it from the broader crypto ecosystem.

According to Glassnode analysis, Bitcoin has fallen below the 0.75 supply cost baseline quantile and failed to regain that level. The current spot price is below the cost benchmark of 75% of supply, indicating increasing selling pressure. The risk has significantly increased, and unless the price recovers above this level, a downward trend will dominate.

Huoxun Finance reported on January 22 that, according to CoinDesk, Bitcoin treasury company Strategy has mitigated its credit risk as its perpetual preferred stock, with a notional value of $8.36 billion, surpasses its $8.2 billion in convertible debt. This shift in capital structure towards perpetual capital reduces refinancing risk and balance sheet volatility. Convertible bonds carry refinancing risk at maturity and volatility linked to share price, while perpetual preferred stock does not require principal repayment, pays fixed dividends, and has priority between common stock and debt. The company's preferred stock portfolio comprises four instruments, with total annual dividends of approximately $876 million. In addition, Strategy holds $2.25 billion in reserves to improve dividend coverage and reduce short-term financing risk. The number of outstanding common shares has increased from 76 million in 2020 to over 310 million, which may alleviate dilution pressure from future bond conversions.