Denis Suarez and Jonny Castro Otto were involved in the first major deals on deadline day, although Miguel Almiron and Marouane Fellaini appeared to edge closer to moves.
Arsenal boss Unai Emery had hoped to be busy in the market and confirmation of a move for Suarez was finally forthcoming at 12:00 GMT on Thursday, a day after Barcelona announced it before deleting the statement from their website.
Suarez has signed on loan from Barcelona after extending his contract at Camp Nou until 2021, though the Gunners have an option to purchase him permanently.
Emery said of the deal: "[Suarez] brings us quality and options in many different attacking positions, so he'll be able to help the team."
The Gunners are also set to see an outgoing after teenage midfielder Emile Smith Rowe travelled to RB Leipzig for a medical ahead of a loan switch.
Wolves also made a splash on Thursday as they made Jonny's move from Atletico Madrid permanent. The Spain international, previously on loan, completed a move that reportedly tied the club's £18million transfer record.
That is not expected to be the only record deal completed, however, as Almiron was spotted at Newcastle United's training ground, where he is expected to put the finishing touches to a £20.5m transfer.
The Paraguay international is set to leave MLS Cup champions Atlanta United, who are in line to receive a league-record fee - topping Alphonso Davies' move from Vancouver Whitecaps to Bayern Munich.
#MiguelAlmirón@danielcampo1#DCSportsPlayer
pic.twitter.com/Kd3rF9Afpt— DCSports (@DCaSports) January 30, 2019
Manchester United midfielder Fellaini may well soon have a new club, too.
Amid reports he has completed a medical with Chinese Super League outfit Shandong Luneng, the Belgium international posted an image of himself and his entourage at an airport on social media, seemingly set to fly east.
Monaco look set to feature heavily on deadline day and they were involved in one of the early moves as midfielder Pele joined Nottingham Forest on loan until the end of the season.
Pele is eager to make an impression. #NFFCpic.twitter.com/FgvrgEJhGz— Nottingham Forest FC (@NFFC) January 31, 2019
Meanwhile, Marseille are in talks with Galatasaray to move on forward Kostas Mitroglou, having brought in Mario Balotelli earlier in the window.
Fulham striker Aboubakar Kamara is also on his way to the Super Lig. He was pictured in Turkey ahead of a potential transfer to Yeni Malatyaspor.
An unlikely rumour emerged in Italy as Juventus were linked to veteran defender Bruno Alves, but Parma sporting director Daniele Faggiano swiftly dismissed the speculation.
"Nothing's been done for Bruno Alves," he told Sky Sport Italia. "We haven't talked to anyone, not even Juventus."
