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South Korea's Financial Supervisory Service (FSS) has launched a preliminary market surveillance review into the unusual price volatility of ZKsync (ZK) on the Upbit exchange, the Korea Economic Daily reported. The FSS's Virtual Asset Investigation Bureau explained that it is "currently securing related data and reviewing the details," adding that the matter could be escalated to a formal investigation depending on its severity. On Feb. 1, ZKsync surged nearly 1000% around the time of an Upbit system maintenance period before crashing. The incident led to allegations of price manipulation within the crypto community.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.97% long, 50.03% short - Binance: 50.76% long, 49.24% short - OKX: 50.33% long, 49.67% short - Bybit: 50.97% long, 49.03% short

Binance has announced it will delist several margin trading pairs at 6:00 a.m. UTC on Feb. 6. The affected pairs include: - Cross Margin: KNC/BTC, COTI/BTC, BAT/BTC, DUSK/BTC, RLC/BTC, GRT/ETH, GLM/BTC, and KAVA/BTC. - Isolated Margin: KNC/BTC, COTI/BTC, BAT/BTC, DUSK/BTC, JST/BTC, RLC/BTC, GRT/ETH, GLM/BTC, KAVA/BTC, and CTK/BTC.

Trend Research deposited an additional 10,000 ETH, worth $23.35 million, to Binance five minutes ago, Onchain Lens reported. This follows a previous transaction where the firm deposited a total of 93,588 ETH to Binance, which it then sold to repay a loan.

U.S. spot ETH ETFs saw a net outflow of $15.58 million on Feb. 2, marking the third consecutive day of net outflows, according to TraderT. - BlackRock's ETHA: -$82.84 million - Fidelity's FETH: +$66.62 million - Bitwise's ETHW: +$4.99 million - VanEck's ETHV: +$7.64 million

U.S. spot Bitcoin ETFs saw net inflows of $562.62 million on Feb. 2, according to data compiled by TraderT. This marks a return to net inflows for the first time in five trading days. The inflows were led by BlackRock and Fidelity. - BlackRock's IBIT: +$142.72 million - Fidelity's FBTC: +$153.35 million - Bitwise's BITB: +$96.5 million - Ark Invest's ARKB: +$65.07 million - Invesco's BTCO: +$10.09 million - VanEck's HODL: +$24.34 million - Grayscale's Mini BTC: +$67.24 million

Tether has launched MiningOS, an open-source Bitcoin mining software, Cointelegraph reported. MiningOS features a modular and scalable operating system suitable for everyone from individual miners to institutions. It provides a self-hosted mining architecture that communicates with other devices via a peer-to-peer network.

Trend Research has deposited an additional 20,000 ETH, worth $46.54 million, to Binance, according to Onchain Lens. The firm has now deposited a total of 93,588 ETH to the exchange, which it sold to repay a loan.

A whale address that was liquidated for $230 million during the mass liquidation event on Oct. 10 of last year has withdrawn 806.47 BTC, worth $63.36 million, from crypto market maker B2C2 and Coinbase over the past 11 hours, on-chain analyst ai_9684xtpa reported. The address, which begins with bc1qf, currently holds $3.14 billion in BTC and $1.07 billion in ETH.

An address believed to belong to Singapore's DBS Bank received an additional 2,500 ETH ($5.85 million) from Wintermute approximately two hours ago, according to The Data Nerd. The address has accumulated a total of 24,898 ETH ($61.34 million) over the past week.

Users of the bankrupt exchange FTX have reached a settlement in their lawsuit against the company's law firm, Fenwick & West, Cointelegraph reported. Attorneys for Fenwick and the FTX users are scheduled to submit the settlement agreement to the court on Feb. 27. The specific terms of the agreement have not been disclosed. FTX users had previously filed a class-action lawsuit alleging that Fenwick assisted former FTX executives in creating shell companies to misappropriate billions of dollars.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - ETH: $200 million liquidated (58.95% longs) - BTC: $190 million liquidated (54.81% longs) - SOL: $21.74 million liquidated (64.74% longs)

According to CoinNess market monitoring, BTC has fallen below $78,000. BTC is trading at $77,991.18 on the Binance USDT market.

Solana ecosystem project Step Finance announced that it suffered a hack of approximately $40 million on Jan. 31. The breach occurred after an executive's device was compromised. The team has reported the incident to the police and has asked users to refrain from using the STEP token until the investigation is complete.

SpaceCoin, a decentralized satellite-based internet project, has announced the launch of its SPACE staking program. The program will be available for a limited time and offers participants rewards of around 10% APR. Staking is limited to SPACE tokens issued on the Creditcoin chain.

ING Germany, one of the country's largest financial institutions, has launched a crypto exchange-traded product (ETP) trading service for retail investors, Wu Blockchain reported. The move allows ING customers to directly invest in ETPs tracking indices for cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) through their securities accounts.

Binance has announced it will conduct wallet maintenance for approximately 60 minutes to resume withdrawal services following recent issues.

South Korean exchange Bithumb has announced that it will temporarily suspend deposits and withdrawals for Frax Share (FXS) starting at 10:00 a.m. UTC today to support the token's rebranding and swap.

Binance has announced it will temporarily suspend deposits and withdrawals for Sei (SEI) to support an upcoming network upgrade. The suspension is scheduled to begin at 4:30 p.m. UTC on Feb. 3.

An address associated with the memecoin TRUMP has transferred 5.267 million TRUMP, valued at $22.44 million, to a BitGo custody address, according to Onchainlens. The on-chain analysis firm suggested the move could be in preparation for an over-the-counter (OTC) sale.

The White House convened banking and crypto industry executives on Feb. 2 to discuss the CLARITY Act, a bill on crypto market structure, CoinDesk reported. During the meeting, the banking sector reportedly offered no compromise proposals. According to officials, the White House has instructed attendees to agree on revised legislative language regarding payments on stablecoin holdings by the end of this month. The issue of whether to permit interest or rewards on stablecoins is a key point of contention and a major reason for the deadlock in the bill's negotiations. Future discussions will continue at the working group level.

The U.S. ISM Manufacturing Purchasing Managers' Index (PMI) has reached a 40-month high, a development that could be a positive signal for Bitcoin (BTC), Cointelegraph reported. The index registered 52.6 in January, surpassing market expectations of around 48.5 and breaking a 26-month streak of contraction. The ISM PMI is a key indicator of U.S. manufacturing activity, with a reading above 50 signaling expansion. The latest figure is the highest since August 2022. Cointelegraph noted that from mid-2020 to 2023, the PMI's movements have shown a correlation with the price trends of Bitcoin and the broader crypto market. Joe Burnett, Vice President of Bitcoin Strategy at Strive, analyzed that whenever the manufacturing PMI has rebounded in the past, the market has shifted to a risk-on phase. He added that Bitcoin saw strong upward trends following such rebounds in 2013, 2016, and 2020.

A whale address (starting with 3BTqd) dormant for eight years deposited 243 BTC ($19.15 million) to Gemini about 30 minutes ago, according to Onchain-Lense.

U.S. investment bank Compass Point has assessed that the cryptocurrency market is entering the final stages of its bear phase, with Bitcoin likely to form a bottom around $60,000, CoinDesk reported. In a research note, the bank stated that BTC's next support level is expected in the $60,000 to $68,000 range, where 7% of long-term holders (those holding for over six months) acquired their positions. At the same time, the $81,000 to $83,000 zone is projected to be a strong resistance level. The bank also identified the $70,000 to $80,000 range as an "air pocket" with a thin order book, where prices could fall sharply, as less than 1% of long-term holders bought in this area. If BTC breaks below the $60,000–$68,000 support, the next support could be near $55,000, though Compass Point noted such a scenario would likely require a combination of negative events like a U.S. stock market crash and a series of bankruptcies at major crypto firms.

According to CoinNess market monitoring, BTC has risen above $79,000. BTC is trading at $79,010 on the Binance USDT market.