Ethereum

On January 29, 2026 at 17:45, Ethereum fell below $2,900, extending its short-term downtrend and intensifying pressure on leveraged positions. According to the latest liquidation data, 30 percent moves could trigger liquidations of $11.22 billion in shorts or $10.50 billion in longs. RSI slipped into the low 30s while MACD remains negative.

On January 29, 2026, Tom Lee's crypto infrastructure company Bitmine significantly expanded its Ethereum staking position by locking an additional 250,912 ETH, valued at roughly $740 million. This brought its total staked balance to about 2.58 million ETH, worth $7.6 billion and accounting for around 61% of its Ethereum holdings, while ETH traded near $2,925 with modest recent declines.

The Optimism Collective approved a 12-month plan to direct 50% of Superchain sequencer revenue to monthly OP buybacks, passing with 84.4% support. Starting in February, the Foundation will convert January revenue via an OTC partner, deploying about 2.7k ETH (roughly $8 million) based on the past year’s 5,868 ETH intake.

Fidelity Investments is preparing to roll out its Fidelity Digital Dollar (FIDD) stablecoin, pegged 1:1 to the US dollar and backed by reserves. The token will operate on Ethereum, target both institutional and retail clients, and enter a market where Tether and Circle collectively hold most of the share.

Abu Dhabi-based Universal Digital has introduced USDU, a US dollar-backed stablecoin registered by the Central Bank of the United Arab Emirates as a Foreign Payment Token under the Payment Token Services Regulation. The token is issued on Ethereum, fully backed by US dollar reserves held in UAE banks, and is intended for institutional and professional use within the country's regulated digital asset settlement framework.

Ether balances on centralized exchanges have fallen from 12.31 million tokens in July to 8.15 million, while the price has traded in a tight range around the $2,800–$3,000 level. At the same time, about 3.6 million ETH are queued for staking with an estimated 63-day wait, and total staked Ether has climbed to over 36 million tokens. Large holders such as BitMine have now locked more than 2.5 million ETH, and some staking wallets have recently withdrawn over 26,000 tokens from Binance.

On January 29, 2026, President Donald Trump and Senate Minority Leader Chuck Schumer met in Washington to head off a U.S. government shutdown before the January 31 deadline. According to Polymarket, bettors now assign a 40% chance of a shutdown. Discussions reportedly center on separating Department of Homeland Security funding and considering short‑term appropriations to maintain operations.

Ethereum trades above $3,000 while analysts flag parallels to the 2015–2018 cycle and 2017 rally. Leshka.eth projects a 3–4x move within six months, as open interest sits around 5 million ETH and non-empty wallets exceed 175 million. Spot ETH ETFs posted a $63.53 million net outflow on January 27.

Gold set a fresh record above $5,600 per ounce after a 4% rally that followed a 4.6% surge the prior session, extending weekly gains to over 10%. Spot prices are up 28% year to date, with silver nearly 65%. Bitcoin fell to $88,000 as ETH slipped below $3,000 and SOL declined more than 3%.

Ethereum attempted a rebound above $2,880 but met sellers near $3,050, slipping back below $3,000. It is trading under $2,990 and the 100-hour Simple Moving Average, with support at $2,920 and $2,880. Holding those areas could set a move toward $3,000–$3,050; failure risks $2,820–$2,780.