Market Overview - The cryptocurrency market experienced a significant decline on January 31, with Bitcoin (BTC) falling below $80,000, trading at $77,934.46, marking a 7% drop in 24 hours and the lowest level since April 2025 [1] - The total cryptocurrency market capitalization decreased by more than 7.9% to $2.7 trillion during the same period [1] Liquidation Events - Traders rushed to exit positions amid the market downturn, resulting in nearly $2.51 billion in crypto positions being liquidated within 24 hours, including $2.41 billion in long positions and $105.19 million in short positions [2] Security Incident - Step Finance, a decentralized finance (DeFi) dashboard, reported a hack that compromised several of its treasury and fee wallets, with approximately 261,854 Solana (SOL) worth about $26 million being unstaked and moved during the breach [3][4] - The platform has taken immediate remediation steps and is collaborating with security professionals while notifying relevant authorities [3] Company Background - Step Finance aggregates liquidity pool tokens, yield farms, and positions from about 95% of Solana-based protocols into one dashboard and also operates the Solana-focused news outlet SolanaFloor [5] - The platform had previously acquired Moose Capital, now Remora Markets, to facilitate tokenized stock trading on the Solana network [5] - In November 2024, Step Finance announced the shutdown of its main dashboard to focus on its media outlet and trading platform due to declining DeFi activity and high operational costs [6]

Solana Ecosystem Overview - Solana's decentralized exchange (DEX) options include Raydium, Jupiter Exchange, and Orca [1] - Trading platforms on Solana encompass Cabbage, Axiom Exchange, and Bullx [1] - DeFi protocols on Solana feature Hylo, Huma Finance, and Lulo [1] - Popular wallet choices within the Solana ecosystem are Phantom, Solflare, and Backpack [1] - News sources covering Solana include SolanaFloor and DegenerateNews [1] Staking - Staking opportunities are available [1]