According to Alphractal, total crypto liquidations hit $2.59 billion in the latest sell-off, with Ethereum accounting for $1.16 billion as ETH slid near $2,300. On-chain data showed whales "7 Siblings" and "0xB7" bought a combined $57.44 million in ETH, while MFI hovered around 41 and CMF stayed negative, signaling lingering downside risk.

Step Finance has disclosed that its treasury and fee wallets were compromised, leading to the unstaking and transfer of 261,854 SOL tokens valued at about $30 million. The protocol says it has begun an investigation, alerted authorities, and engaged cybersecurity firms, while stressing that user funds were not impacted. Following the incident, the STEP token price plunged sharply and Solana’s market performance weakened over the past day and week.

Ethereum slid beneath $2,500 on Thursday, January 29, after losing nearly 20% in one week. The token hovers near the $2,475 cushion, and on-chain data highlights $2,623, $2,475, and $1,881 as key supports while ETH trades around $2,410.

According to posts on X by a woman identifying herself as Ten Ten, she says she previously dated Justin Sun and alleges coordinated TRX manipulation using multiple Binance accounts, with aggressive cash-outs at the end of 2017 and the beginning of 2018. She says she has WeChat records, is willing to work with the SEC, and publicly urged President Trump to distance himself.

On January 31, 2026, Arkham said the "Hyperunit whale" had exited his entire Ethereum long, locking an estimated $250 million loss. On February 1, 2026, ETH hovered near $2,400 during a market sell-off, and Arkham noted only $53 remained in the trader's Hyperliquid account.

According to U.Today, the whale cohort known as '7 Siblings' accumulated 12,771 ETH for roughly $31 million at an average near $2,427 over the past 10 hours as Ethereum slid toward $2,400. ETH has broken below key moving averages and a January range; if $2,400 gives way, price could approach $2,200, while continued accumulation may aid stabilization.

On February 6, Hyperliquid will unlock about 9.92 million HYPE tokens, equal to 2.79% of its supply and valued near $305 million, while Berachain will release 41.7% of its circulating tokens. These large unlock events could influence market liquidity, price volatility, and investor sentiment around both projects.

Solana's price has retreated toward the $100 support area after repeated failures to overcome the $150 supply zone, with its weekly chart showing a confirmed bearish break since April 2025. Despite reports of rising on-chain activity and long-term targets ranging from $1,000 to $3,200, technical indicators such as an oversold RSI near 22 and multi-month lows on OBV point to further downside, with key levels at $95, $78, $64, and $47.9 in focus.