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BlockBeats News, January 23rd, according to CoinDesk, despite a strong start to the year, Ethereum and the entire crypto market experienced a pullback this week. However, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered Bank, still sees reasons to remain bullish. During the early U.S. trading session on Friday, ETH was trading at around $2,912, down about 12% for the week and turned into a 1.7% decline since the beginning of the year. As the largest current enterprise Ethereum holder, Tom Lee's BitMine (BMNR) saw its stock price drop nearly 9% this week, expanding its year-to-date decline to about 10%. Kendrick pointed out that Ethereum's network activity has surged in recent weeks, with transaction volume hitting a record high, mainly thanks to the December Fusaka upgrade that brought increased capacity. He stated that the surge in usage marks a difference from past cycles, where previous upgrades failed to drive sustained network growth. Unlike past upgrades, Fusaka appears to be alleviating previous bottlenecks, allowing more users and developers to smoothly complete transactions. This capacity upgrade distinguishes the current wave of growth from previous ones. Kendrick noted that BitMine has shown no signs of slowing down its Ethereum purchases, and Tom Lee outlined the company's plans for more acquisitions in an annual shareholder meeting last week. The macroeconomic environment has also played a positive role. The elimination of Greenland-related tariff risks, the rebound in the Japanese bond market earlier this week after a panic sell-off, and the increasing likelihood of BlackRock's fixed-income chief Rick Rieder becoming the next Fed chair, all bode well for risk assets. This should be positive for cryptocurrencies, and going long on ETH and BMNR over the weekend seems to offer a good risk/reward ratio.

PANews January 23rd news, according to Coindesk, Geoff Kendrick, Head of Global Digital Assets Research at Standard Chartered Bank, stated that Ethereum has experienced a sharp decline in recent days, similar to other cryptocurrencies, but positive momentum continues. He pointed out that since the Fusaka upgrade in December, Ethereum network transaction volume has soared to record levels. This upgrade has effectively alleviated previous capacity bottlenecks and driven the growth of on-chain activity. In addition, ETH's largest corporate holder, Bitmine, continues to purchase Ethereum, and the macroeconomic environment has also played a positive role: the mitigation of tariff risks related to Greenland, the rebound of the Japanese bond market from sell-offs, and rising expectations that BlackRock's Head of Fixed Income, Rick Rieder, may become the next Federal Reserve Chair—all of which are favorable for risk assets. He believes that going long on Ethereum and Bitmine (BMNR) before the weekend offers a good risk-reward ratio.

Foresight News reported that Katana announced that Season 1 rewards will be distributed at the time of TGE. The top 250 active users on the Kaito platform during Season 1 are eligible to receive a total of 2.5 million vKAT rewards. Eligible users need to connect their X account and verify their wallet in the Katana app, and also claim XP to track task progress. The connected wallet will be used as the address for receiving vKAT at TGE.