「Never Short」 Trader Liquidates Two Consecutive ETH Longs, Loses $38,000

January 19th — Per BlockBeats data, 2025 has seen a slight recovery in cryptocurrency CEX spot trading demand amid price fluctuations and policy expectations, with a 3.6% year-over-year (YoY) increase. Futures trading volume, however, jumped more sharply: up 27% YoY, while HTX and Kucoin both posted over 60% YoY gains. Binance remains the industry leader, with spot trading volume at ~$73 trillion and futures volume exceeding $270 trillion — roughly equal to the combined volume of the second through fourth-ranked platforms. Overall, futures trading volume far outpaces spot trading and remains CEXs’ core business. Notably, 2025 mainstream CEX app downloads fell 35.47% YoY, signaling weak growth in the crypto market’s user base. Detailed data is available at: [https://www.theblockbeats.info/news/60947](https://www.theblockbeats.info/news/60947)

Jan 19 — Per data from GMGN, a whale address holding meme coin "1" on the BSC chain executed the following trades 30 hours ago: it purchased $2,200 worth of the token when the coin’s market cap was $48,200, then sold $1,250 worth when the cap rose to $68,000. The address still holds the remaining tokens, and currently has an unrealized gain of $130,000 — a profit rate of over 59x. At press time, the market cap of "1" on BSC briefly rebounded to $9 million and now stands at $8.75 million. The meme coin’s narrative stems from the article *How to fix your entire life in 1 day*, which was briefly retweeted by Elon Musk on the afternoon of Jan 18. BlockBeats reminds users: Meme coin trading is extremely volatile, heavily dependent on market sentiment and narrative hype, and lacks real value or use cases. Investors should be mindful of the risks.

Binance announced on January 19 that it will delist the following trading pairs at 08:00 UTC on January 20: 0G/BNB, 1MBABYDOGE/FDUSD, ADX/ETH, AGLD/BTC, ALT/FDUSD, ARKM/BTC, ATOM/ETH, BTC/ZAR, ENS/BTC, ETH/ZAR, HOLO/BNB, HOLO/FDUSD, MOVR/BTC, NEWT/FDUSD, OP/ETH, ORDI/BTC, OXT/BTC, POLYX/BTC, SLP/ETH, SSV/BTC, STO/FDUSD, STORJ/BTC, and TRB/BTC.

On January 19th, per Hyperinsight monitoring, a "short-term scalper" whale address (0x8c949) closed out 100 long positions at 15:07, realizing a $270,000 loss. The address currently holds no positions and is in a wait-and-see stance. The address has recently traded aggressively, demonstrating a high-risk preference and focusing on short-term scalping.

Jan 19, Ethereum co-founder Vitalik published an article noting the need for more higher-quality DAOs to tackle current inefficiencies and plutocracy issues with token voting mechanisms, and to advance Ethereum’s decentralized scalability from the base layer to the application layer. Vitalik outlined DAOs’ key roles in oracles, on-chain dispute resolution, list maintenance, and project launch/maintenance. He also differentiated between "convex" and "concave" problems to guide decision-making mechanism design. Vitalik noted, “To achieve all this, we need to solve two issues: privacy and governance fatigue. Without privacy, governance becomes a social game.”

On January 19, Paradex said in a maintenance update that it has identified the issue, and the chain state will be rolled back to block 1604710 (UTC 04:27:54). This is the state prior to database maintenance and the last known valid state—all accounts will be reverted to their pre-maintenance condition. In a prior update, the Starknet-based perpetuals DEX Paradex announced temporary maintenance. The protocol remains offline after exceeding its expected completion time. Community feedback indicates some users had their Paradex perpetual contract positions liquidated due to abnormally high funding rates.