Beiträge

Veröffentlicht am

Optimism (OP) slips toward $0.25 ahead of Jan. 22 buyback vote

  • The Optimism Foundation’s proposal for a token buyback goes to a vote on January 22, 2026.
  • OP price has fallen sharply over the past year, and sentiment is largely bearish.
  • The buyback could catalyze gains, with OP eyeing $0.52-$0.75.

Optimism’s OP token changed hands around $0.30 on Tuesday, January 20, 2026, slightly up in the past 24 hours as the community edges towards a key governance vote.

But having traded to intraday highs of $0.37 last week, the token’s dip to current levels risks allowing for a pullback to all-time lows of $0.25 reached in December.

Can Optimism Foundation’s plans for a buyback program that commits Superchain revenue to monthly OP purchases bolster bulls?

​Optimism buyback details and implications

Optimism is set for a governance vote on January 22, 2026, following a proposal floated earlier this month.

The Optimism Foundation wants community approval to allocate half of the sequencer fees for open-market buybacks of OP.

If the vote passes, the program will start in February, with 50% of Superchain revenue flowing to Optimism. Repurchases are set to occur over the next year.

The remaining 50% funds will be allocated to ecosystem grants, maintaining flexibility.

As with other  models, such as dYdX’s 75% fee buybacks, Optimism aims to buy from the market. However, the tokens go back to the OP treasury rather than direct burns.

If the latter happens, supply reduction will signal confidence in OP and Superchain’s dominance.

“With this buyback mechanism, OP transitions from a pure governance token to a token that is tightly aligned with the growth of the Superchain,” Optimism wrote at the time.

The mechanism targets every enterprise that creates a new chain on the Superchain, with these expected to add to the underlying demand for OP.

​OP token price forecast

The Optimism (OP) price is down nearly 94% from its peak of $4.85 reached in March 2024. The downtrend has crushed holder sentiment, and despite the buyback proposal, the outlook is largely bearish.

Bears may hold this advantage unless Optimism for instance, burns the repurchased tokens. BNB’s quarterly burns have helped the token’s price storm to new highs.

In the short term, a post-vote rally could push prices to $0.52.

Optimism Price Chart
Optimism price chart by TradingView

As the daily chart above indicates, the 50-day and 200-day exponential moving averages act as supply zones at $0.32 and $0.51 (currently).

Targets in the $0.60-$0.75 range are a possibility should the crypto market experience a rebound from current downward pressure.

Gains for Ethereum and top ecosystem tokens will catalyse this likely OP bounce.

However, bearish pressure means the psychological $1 mark remains well off the threshold for now.

Major token unlocks will continue to cap gains, too, and a dip to $0.25 on fresh downward catalysts will encourage sellers.

The post Optimism (OP) slips toward $0.25 ahead of Jan. 22 buyback vote appeared first on CoinJournal.

Veröffentlicht am

Everclear launches cross-chain asset settlement on Mantle, enabling 60-second wETH-to-mETH swaps

  • Swap wETH to Mantle’s mETH from major chains in under 60 seconds.
  • No traditional bridges, slippage, or complex onboarding steps required.
  • Netting + rebalancing cuts liquidity fragmentation and operational costs.

The blockchain industry’s liquidity fragmentation problem has a new solution.

Everclear, the interoperability protocol formerly known as Connext, has launched cross-chain asset settlement on Mantle Network.

The partnership will allow users to convert wrapped Ethereum (wETH) from major chains including Ethereum, Arbitrum, Base, and Polygon directly into Mantle’s mETH token in under 60 seconds.

The integration bypasses traditional bridging entirely, marking a significant infrastructure breakthrough for decentralized finance adoption.​

The partnership tackles one of DeFi’s most stubborn challenges: liquidity fragmentation.

As blockchain ecosystems have proliferated, identical assets now exist in multiple representations across different networks.

This fragmentation creates inefficiency, higher costs, and friction that deters both retail and institutional participation.

Everclear’s clearing infrastructure solves this problem by netting cross-chain flows and automatically rebalancing inventory, dramatically reducing redundant liquidity and operational costs.​

How the settlement layer works

The mechanics are elegant in their simplicity. Users holding wETH on any supported chain select Mantle as their destination.

Everclear’s solver network fills the intent immediately, delivering mETH to the user’s wallet while managing settlement and rebalancing operations behind the scenes at optimal pricing.

The result is zero slippage, fast execution, and capital efficiency that traditional bridges cannot match.​

Nikita Bulgakov from the Everclear Foundation explained the vision:

Everclear was built to be the settlement layer for a fragmented, multi-asset future. By connecting different representations of the same asset, we enable partners like Mantle and mETH Protocol to offer a truly chain-abstracted experience to users.​

Accelerating Mantle’s institutional adoption

Mantle has emerged as a serious contender in the liquidity infrastructure space, anchoring over $4 billion in community-owned assets and positioning itself as the premier gateway for institutions connecting with on-chain liquidity and real-world assets.

The mETH Protocol, Mantle’s flagship liquid staking solution, achieved a peak total value locked of $2.19 billion and is now integrated across 40+ major platforms including Bybit, Ethena, and leading custody providers like P2P and Copper.

“Real-world usability of on-chain assets depends on efficient settlement across chains,” said Emily Bao, Key Advisor of Mantle.

This integration reinforces Mantle’s RWA and ETH-native strategy by removing onboarding friction and enabling capital to flow into the ecosystem in a more scalable, institutional-grade way.

The Everclear partnership removes a critical barrier to growth.

Previously, users navigating multiple chains faced bridge risks, slippage costs, and complexity that discouraged participation. Now, onboarding becomes frictionless.

Expanding the settlement layer

Everclear already processes approximately $400 million in monthly volume across blue-chip assets and stablecoins, serving professional users including market makers, solvers, bridges, and exchanges.

The Mantle launch marks the beginning of expanded cross-asset settlement capabilities, with plans to support additional ETH-based assets, stablecoins, and emerging blockchain networks.​

This development underscores the industry’s evolution toward chain-abstracted finance, where users and institutions interact with blockchain infrastructure without managing underlying complexity.

For the DeFi ecosystem, it represents a meaningful step toward mainstream adoption.

The post Everclear launches cross-chain asset settlement on Mantle, enabling 60-second wETH-to-mETH swaps appeared first on CoinJournal.

Veröffentlicht am

Portugal orders Polymarket to shut down over election betting surge

  • Portugal prohibits political betting under its 2015 online gambling law.
  • Polymarket remains accessible, but regulators may ask ISPs to block it.
  • Polymarket faces restrictions in 30+ countries, with access limits varying by market.

Portugal’s gambling regulator has ordered blockchain-based prediction market Polymarket to cease operations in the country within 48 hours after the platform saw a sharp spike in activity linked to Sunday’s presidential election.

According to Rádio Renascença, bets placed on the outcome of the Jan. 18 vote exceeded 103 million euros ($120 million).

The regulator, the Serviço de Regulação e Inspeição de Jogos (SRIJ), said Polymarket does not hold a licence to offer betting services in Portugal and is therefore operating illegally.

The enforcement step highlights how prediction markets are increasingly colliding with national gambling laws, particularly when political events drive rapid inflows of user activity and large volumes of capital.

A fast-growing prediction market meets strict local gambling rules

Polymarket is a prediction market that lets users bet on real-world events such as politics, sports, or other developments by buying shares tied to potential outcomes.

In Portugal, betting on political events and other real-world outcomes is illegal.

Under the country’s 2015 online gambling law, betting is permitted only on sports, casino games, and horse racing.

SRIJ said Polymarket is not authorised to offer betting services in Portugal and cannot legally operate political markets, whether they relate to domestic events or international developments.

The regulator’s 48-hour deadline and what could come next

The regulator’s decision was tied to the surge in election-related betting, with activity around the Portuguese presidential race drawing increased attention.

SRIJ formally ordered Polymarket to quit the country within 48 hours.

However, the platform remains accessible for now, though regulators may soon instruct internet service providers to block access.

Other prediction market platforms, including Kalshi, Myriad, and Limitless, also appear to be accessible in Portugal, even as authorities focus specifically on Polymarket’s licensing status and its political betting markets.

Election-related volume draws fresh scrutiny

The size of the wagering linked to the Jan. 18 vote has put the spotlight on how quickly liquidity can concentrate on political markets.

Rádio Renascença reported that bets exceeded 103 million euros ($120 million), underscoring the scale of the activity on Polymarket tied to Portugal’s presidential election.

Such volumes can draw regulator attention faster than smaller niche markets, especially in jurisdictions where political betting is explicitly restricted.

Polymarket faces bans in 30+ countries

Polymarket was founded in 2020 and has already faced restrictions in more than 30 countries, including Singapore, Russia, Belgium, Italy, and, more recently, Ukraine.

Regulatory approaches vary by jurisdiction. Some countries, such as Belgium, have blacklisted the website.

Others, including France, have limited access so that local users can enter the platform in a “view-only” mode rather than actively participate.

Portugal’s enforcement action adds to that growing list and shows how legal pressure on prediction markets can escalate quickly when platforms gain traction around elections.

The post Portugal orders Polymarket to shut down over election betting surge appeared first on CoinJournal.

Veröffentlicht am

South Korea may target fairer crypto market with banking rule changes: report

  • The one-exchange-one-bank model is not a legal requirement but is widely followed.
  • A government study found the setup limits access for small crypto exchanges.
  • Large platforms dominate Korean won-based trading due to better liquidity.

South Korea’s top regulators are reportedly reviewing how local cryptocurrency exchanges work with banks, aiming to create a more balanced playing field.

The current system often links each crypto exchange to just one bank, limiting choice and creating high entry barriers for smaller firms.

Though this setup isn’t officially required by law, it has become widespread due to anti-money laundering and identity verification rules.

The Financial Services Commission and the Fair Trade Commission are now coordinating a review to see whether this long-standing practice is stifling competition and reinforcing the dominance of a few large exchanges.

Rules may favour bigger exchanges

Under the existing system, exchanges need to form exclusive partnerships with domestic banks to allow customers to deposit and withdraw Korean won.

Without that link, they can’t offer basic fiat services.

The model emerged in response to growing demands for transparency and risk control, but may now be working against smaller market participants.

A recent study commissioned by the government explored how current crypto regulations impact competition.

According to findings reported by local outlet Herald Economy, researchers concluded that the one-to-one exchange-bank setup makes it harder for newer or smaller exchanges to access banking services.

Even though it helps manage financial risks, applying the same strict standards across the board may be excessive when firms vary in size, volume, and risk profile.

The study also noted that most Korean won-based crypto trading happens on just a few large platforms, making the market highly concentrated.

Liquidity gap highlights entry barriers

The research pointed out that when a few platforms dominate trading volume, they benefit from deeper liquidity and faster transactions.

This creates a cycle where users are more likely to choose the bigger players, further limiting the reach of smaller exchanges.

As long as banking access remains difficult, that pattern is unlikely to change.

This concentration may make the market less dynamic, reduce innovation, and restrict consumer options.

As a result, the current setup could be reinforcing the position of already-powerful exchanges, rather than encouraging healthy competition.

Lawmakers delay key digital asset bill

The review of crypto-banking links comes alongside delays in broader legislative changes.

The Digital Asset Basic Act, which is expected to reshape the country’s crypto regulation, was initially scheduled for submission before the end of 2023.

However, on December 31, lawmakers pushed it back to 2026.

The bill proposes allowing the launch of stablecoins backed by the Korean won, as long as the issuing companies store their reserve assets with approved custodians such as banks.

The delay stems from disagreements over how to supervise stablecoin issuers and whether a new oversight body should pre-approve them.

The Financial Services Commission is also weighing how to allow both financial and non-financial firms to take part in this sector without compromising on safety.

The goal is to support innovation while maintaining strong regulatory safeguards.

The post South Korea may target fairer crypto market with banking rule changes: report appeared first on CoinJournal.

Veröffentlicht am

Solana risks plunge to under $120 as sellers dominate

  • Solana traded to lows of $128 as the price broke down from above $135.
  • The technical outlook suggests bears could eye a dip to $120 or lower.
  • Bitcoin’s trajectory will also dictate broader sentiment.

Solana (SOL) price declined by about 4% in the past 24 hours to trade below $130 as of writing on January 20, 2026.

The altcoin’s value slipped amid heightened selling pressure across the broader market, with corrections sending Bitcoin to around $90,600.

For Solana, derivatives metrics hint at a potential bearish tilt, with further downside action toward sub-$120 levels likely.

​Solana dips below $130

Top altcoins continue to see notable traction, as shown by the $1 billion real-world assets milestone for Solana.

However, while this points to long-term potential, in the short term, it appears bullish sentiment is waning.

Escalating global economic uncertainties and cryptocurrency sector volatility signal this outlook, with long liquidations in SOL derivatives surpassing $20 million in the past 24 hours.

The imbalance in liquidations, with longs comprising over 95% of total wipeouts, points to overcrowded bullish bets.

Notably, this shows how vulnerable bulls are to cascading sell-offs.

In this case, the aggressive unwinding by leveraged bulls has open interest in SOL futures contracting to roughly $8.2 billion amid diminished risk appetite.

​Meanwhile, funding rates hover at a mildly 0.0070%, but seller dominance has SOL prices down 8% this past week.

The monthly action has seen shorts shrink the altcoin’s value to just +2.4%.

A look at institutional flows does present a mixed picture. US spot Solana ETFs registered over $47 million in net inflows last week.

SoSoValue data shows that net inflows were up from about $41 million and $20 million over the previous two weeks.

However, spot-driven selling could erode this support, potentially triggering outflows.

​​SOL price forecast – Is $120 next?

As highlighted, Solana traded below the key support at $130, having slipped under the 20-day and 50-day exponential moving averages.

The EMAs are clustered at $137 and $159, respectively, hinting at a short-term bearish structure.

Charts also show the daily MACD line has crossed below its signal, with histogram bars expanding negatively.

Meanwhile, RSI hovers at 41 and is drifting toward oversold territory to suggest more room for downward momentum.

Solana Price Chart
Solana price chart by TradingView

​If support at $125-$126 fails, it will open a path for a revisit of the $120 mark.

Bears could target lows of $116 reached on December 18, 2025.

On the other hand, upside resistance looms at the $137 level, and notable supply zones also await around $145 and $160.

A decisive move in either direction will be key to bears or bulls. Market sentiment will also hinge on Bitcoin’s trajectory, with fresh tumbles amplifying SOL’s downside vulnerability.

The post Solana risks plunge to under $120 as sellers dominate appeared first on CoinJournal.