In the past hour, total liquidations across the network reached $71.30 million, with $62.83 million from long positions, with $8.47 million from short positions. BTC liquidation $30.31 million, ETH liquidation $17.89 million.

Odaily Planet Daily reports that Chinese President Xi Jinping spoke with US President Donald Trump by phone. Trump stated that both the United States and China are great countries, and the US-China relationship is the most important bilateral relationship in the world. He said he has a great relationship with President Xi Jinping and greatly respects him. Under his and President Xi's leadership, the US and China have had positive interactions in areas such as trade and economy. He is pleased with China's success and the US is willing to strengthen cooperation with China to promote new developments in bilateral relations. (Xinhua)

Odaily Planet Daily reports that Fidelity Investments has announced the official launch of its dollar-pegged stablecoin, Fidelity Digital Dollar (FIDD), available to retail and institutional investors. Investors can directly purchase or redeem FIDD for $1 through the Fidelity Digital Assets, Fidelity Crypto, and Wealth Manager platforms. FIDD is issued on the Ethereum blockchain and will also be listed and traded on external exchanges, with transfers possible to any Ethereum mainnet address. The backing assets are managed by Fidelity Management & Research. Fidelity stated that the launch of FIDD benefits from the increasing clarity of stablecoin regulations in the United States, including the GENIUS Act passed last summer, which provides a federal regulatory framework for stablecoins and reduces legal uncertainty for traditional financial institutions issuing them. (The Block)

Odaily Planet Daily reports that BBVA, Spain's second-largest bank, has joined Qivalis, becoming the 12th member bank of the Amsterdam-based stablecoin project. Qivalis aims to launch a regulated, euro-pegged stablecoin, providing the EU market with digital euro payment and settlement options while challenging the dominance of dollar-denominated stablecoins. Existing members of the project include major EU banks such as BNP Paribas, ING, and UniCredit, with the goal of issuing stablecoins through a banking network to provide businesses and consumers with payment channels that do not rely on third parties or the traditional financial system outside of blockchain. Currently, the global stablecoin market is worth approximately $300 billion, of which only $860 million is pegged to the single euro. Dollar-denominated stablecoins still dominate: Tether's USDT has a market capitalization of approximately $185 billion, and Circle Internet's USDC has a market capitalization of approximately $70 billion. (CoinDesk)

According to Gate data, spot gold fell below $4,890 per ounce, down $200 from its daily high, a 1.15% drop on the day.