According to an article published on the X platform by zlex, co-founder of Scimitar Capital, two ETH whales holding substantial assets have liquidated most of their leveraged positions over the past week. This move caused ETH to fall by more than 20%, dragging BTC down to support levels near its all-time high from the previous cycle. The decline began when Garrett, the "10/11 insider whale," liquidated his 200,000 ETH perpetual long position over the weekend, causing the price to approach the liquidation line for Trend Research's leveraged position on Aave. Trend Research has now repaid hundreds of millions of dollars in positions, while Garrett has sold an additional $300 million worth of ETH spot. Trend Research's liquidation price has fallen to around $1600, about 24% below the current price. This vicious cycle will end once Ethereum rebounds. The market should realize this soon, and strong technical support makes now the perfect time for Ethereum and the entire cryptocurrency market to bottom out. We hold a long position in Ethereum.

In the past hour, total liquidations across the network reached $48.83 million, with $44.57 million from long positions, with $4.26 million from short positions. BTC liquidation $35.62 million, ETH liquidation $6.37 million.

Odaily Planet Daily reports that Cap Labs Limited has announced the deployment of its token sale contract on Uniswap, with public sale registration simultaneously launching on the Predicate platform. The public sale will begin with a pre-auction at 9:00 AM ET on February 9th, utilizing Uniswap's Continuous Clearing Auction (CCA) mechanism. Cap stated that it will use the CCA supply curve model for token sales, with the sale currency adjusted to USDC, and no upper limit on single bids. Participants must complete KYC/KYB registration. During the bidding phase, users must set their acceptable maximum FDV and bid amount. All bids will be settled at a uniform price in each block.

According to Lookonchain monitoring, Vitalik.eth (0xfEB...03B2) sold 2,961.5 ETH at an average price of $2,228 over the past three days, worth $6.6 million. The sale is still ongoing.

Odaily Planet Daily reports that the U.S. House of Representatives has launched an investigation into World Liberty Financial, a cryptocurrency project linked to President Trump, focusing on whether it involves foreign sovereign capital and potential national security and policy compliance issues. The investigation stems from a Wall Street Journal report that an Abu Dhabi-related entity secretly agreed to acquire approximately 49% of World Liberty Financial for $500 million shortly before Trump's inauguration in early 2025. Representative Ro Khanna has sent a letter to the company requesting information on its shareholding structure, payment details, internal communications, and verification of the investment. The letter specifically requests World Liberty Financial to confirm whether $187 million flowed into entities related to the Trump family, and whether there were any additional payments made to associates of the company's co-founders. (CoinDesk)