Cointelegraph

Institutional crypto platform Anchorage Digital is looking to raise hundreds of millions of dollars of fresh capital as it eyes a potential Initial Public Offering.

The raise would be in the $200 million to $400 million range, while a possible IPO is slated for sometime next year, according to a Bloomberg report on Friday, citing people familiar with the matter who asked to remain anonymous.

Anchorage’s affiliate, Anchorage Digital Bank National Association, became the first federally chartered crypto bank in 2021 and is now well-positioned to lead stablecoin issuance and related services following the passage of the GENIUS Act in July.

Anchorage CEO Nathan McCauley said in September that he planned to double the company’s stablecoin team over the next year to accommodate the expected boom in digital dollars.

Source: Bloomberg

“2025 was our year of scale. We made a series of acquisitions, inked major partnerships, and launched new business lines like stablecoin issuance to solidify our lead in institutional crypto,” an Anchorage spokesperson told Bloomberg.

One of those partnerships included Tether, the issuer behind the largest stablecoin, USDT, with the two companies announcing plans in September to launch a USAT token in the US.

Anchorage is expanding its crypto offerings

Anchorage also provides custody, trading, and staking services for banks, hedge funds, and venture capital firms, acting as a regulated bridge for TradFi players to access crypto.

In December, Anchorage also expanded its wealth management arm through the acquisition of Securitize For Advisors and token lifecycle management by integrating Hedgey.

Related: Goldman Sachs CEO says CLARITY Act ‘has a long way to go‘

Anchorage secured $350 million in funding late 2021, led by KKR & Co, with participation from Goldman Sachs, GIC, and Apollo credit funds. 

Anchorage’s valuation was marked at over $3 billion at the time.

Other crypto leaders are looking at IPOs in 2026

Meanwhile, one of Anchorage’s crypto custody competitors, BitGo, filed S‑1 IPO paperwork to list on the New York Stock Exchange in September, while crypto trading platform Kraken filed an S-1 in November and is eyeing a public listing in early 2026.

Magazine: One metric shows crypto is now in a bear market: Carl ‘The Moo

A White House crypto advisor said he received confirmation from the US Department of Justice that no Bitcoin forfeited from the Samourai case was sold, putting rumors to rest.

The confirmation was shared on X by Patrick Witt, Executive Director of the White House President’s Council of Advisors for Digital Assets:

“We have received confirmation from DOJ that the digital assets forfeited by Samourai Wallet have not been liquidated and will not be liquidated,” Witt posted to X Friday, adding that the forfeited Bitcoin would remain part of the Strategic Bitcoin Reserve.

Source: Patrick Witt

The issue surfaced in November when blockchain analysts flagged a 57.5 Bitcoin (BTC) transfer from a US government-controlled BTC address to a Coinbase Prime deposit address.

The Marshals Service was accused of violating President Executive Order 14233, signed by President Donald Trump in March, which mandates that any Bitcoin the government obtains through criminal or civil forfeiture “shall not be sold” and must be held in the SBR.

US now has over 328K BTC

Data from Bitcoin Treasuries shows that the US government holds 328,372 Bitcoin, worth over $31.3 billion at current market prices.

That tally includes a forfeited 127,271 Bitcoin forfeited in October from a Cambodia-based company that allegedly ran a “pig butchering” crypto investment scheme. 

Bitcoin reserve still a “priority” for the Trump administration

In an interview on Crypto in America published on Tuesday, Witt said building out the SBR is still on the “priority list” and will move forward once the Treasury and Commerce agencies agree on how to handle certain legal requirements.

Related: Michael Saylor pushes back on criticism of Bitcoin treasury companies

The US Senator Cynthia Lummis-sponsored Bitcoin reserve bill seeks to accelerate that process, which seeks to accumulate 1 million Bitcoin over a five-year period.

The US government stated that its strategy would be to accumulate Bitcoin in budget-neutral ways, without any cost to taxpayers.

Magazine: Davinci Jeremie bought Bitcoin at $1… but $100K BTC doesn’t excite him

With a markup of the Digital Asset Market Clarity Act (CLARITY) in the US Senate Banking Committee postponed indefinitely, leaders in decentralized finance are using the delay to press lawmakers on concerns with the bill.

Before Republican leaders on the Banking Committee moved late Wednesday to postpone the markup, crypto industry groups had raised concerns about provisions related to tokenized equities, stablecoin rewards and their potential impact on DeFi platforms. The DeFi Education Fund said on Wednesday that some proposed amendments could “seriously harm DeFi technology and/or make market structure legislation worse for software developers.”

Crypto venture capital companies said the legislation would need revisions to address concerns around DeFi and developer protections.

Alexander Grieve, vice president of government affairs at crypto investment company Paradigm, said the highest priority was protecting developers and DeFi, adding there needed to be “significant edits” to the bill. Jake Chervinsky, chief legal officer of Variant, said on Thursday that his “top concern” was DeFi, noting that the bill fell short of standards.

“The last draft leaves ambiguity about whether all sorts of developers and infrastructure providers could be forced to KYC users, register with SEC, or comply with other rules that don’t fit DeFi,” Chervinsky said on X. 

Related: Goldman Sachs CEO says CLARITY Act ‘has a long way to go‘

The bill had been scheduled for markup after months of delays tied to lawmakers’ debates over decentralized finance, potential conflicts of interest and stablecoin provisions. However, Tim Scott, chair of the US Senate Banking Committee, announced a “brief pause” after Brian Armstrong, the CEO of Coinbase, said on X that the exchange could not support the bill as written.

What’s the DeFi fight in the bill about?

In contrast to banks lobbying for CLARITY to ban interest-bearing stablecoins, many industry advocates, including Armstrong, said the current version of the bill would restrict DeFi platforms’ activities, potentially moving companies outside of the US. 

“I feel confident that we can get some of the DeFi issues resolved,” Cody Carbone, CEO of crypto advocacy organization The Digital Chamber, told Cointelegraph. “I think right now some of the [focus is] on narrowing certain definitions. But I do feel confident that over the next two weeks or at least leading up to the next markup, we can get to a good place with DeFi.”

“[DeFi and crypto developers] do not really care about the yield fight,” said Todd Phillips, an assistant professor of law in the Robinson College of Business at Georgia State University, in a Friday X post. “They care about having a robust market structure that allows crypto markets to grow, not whether customers keep their funds in banks or stablecoins, as what matters is their willingness to invest in new tokens.”

Some Senate Democrats have reportedly raised concerns about the draft bill allowing DeFi platforms to facilitate illicit transactions, pushing for restrictions in amendments, including those that the DeFi Education Fund flagged.

As of Friday, no new date for the markup had been scheduled.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

Bitcoin’s price outlook for 2026 is coming into focus as investors weigh tightening supply against macroeconomic and market risks that could shape the next phase of the cycle. In a recent interview with Cointelegraph, crypto market commentator Aaron Arnold outlined bull, base and bear cases for Bitcoin in 2026, identifying the conditions that could drive prices higher or cap further gains.

One major takeaway is that Bitcoin (BTC) may no longer need retail participation to move higher, signaling a sharp contrast to previous cycles.

The interview also dives into Ether’s (ETH) evolving role in crypto markets. With stablecoins, tokenized assets and institutional adoption accelerating, Ether’s fundamentals are increasingly being evaluated through a traditional financial lens.

At the same time, the future of altcoins is addressed head-on, including why broad “altcoin seasons” may be a thing of the past and why selectivity now matters more than ever.

Beyond price targets, the conversation explores broader narratives shaping crypto’s next phase, such as regulatory clarity in the United States, shifting US Federal Reserve policy and geopolitical risks. Aaron also makes the case that crypto is entering its “1996 internet moment,” referring to a period of favorable regulation that should boost mainstream adoption.

For anyone trying to understand how Bitcoin, Ether and the wider crypto market may evolve in 2026, watch the full interview now on Cointelegraph’s official YouTube channel.

Strategy chairman Michael Saylor defended Bitcoin treasury companies against criticism during a recent appearance on the What Bitcoin Did podcast. 

Responding to questions about smaller companies that issue equity or debt to buy Bitcoin (BTC), Saylor said the decision ultimately comes down to capital allocation, arguing that companies with excess cash are better off allocating it to Bitcoin than holding it in Treasurys or returning it to shareholders.

He compared corporate treasury strategies to individual investing, arguing that ownership levels vary but the underlying decision to hold BTC is rational regardless of company size or business model.

Saylor also pushed back on the idea that unprofitable companies should be singled out for criticism, arguing that Bitcoin holdings can help offset weak operating results.

He said a company running at a loss could still improve its overall financial position if the value of its Bitcoin holdings rises faster than its operating losses. “If you’re losing $10 million a year but making $30 million in Bitcoin gains, didn’t I just save the company?” Saylor said.

Strategy chairman (left) Michael Saylor speaks with Danny Knowles, host of the What Bitcoin Did podcast on Monday. Source: YouTube

Saylor contrasted Bitcoin purchases with other uses of excess cash, arguing that buybacks and low-yield Treasurys can worsen outcomes for struggling companies. Buying back shares in a money-losing business “just amplifies your losses faster,” he said, adding that Bitcoin offers a materially different risk-reward profile for corporate balance sheets.

Saylor said companies that hold Bitcoin are often held to a different standard than those that avoid the asset altogether. “The Bitcoin community tends to eat its young,” he said, adding:

You somehow think that it’s OK for 400 million companies to not buy Bitcoin, and somehow that’s okay, and you’re going to criticize the 200 companies that bought Bitcoin.”

Strategy began accumulating Bitcoin in 2020 and is the largest crypto corporate holder. According to BitcoinTreasuries.NET data, the company held 687,410 BTC at time of writing.

More public companies turn to Bitcoin as a treasury asset

Corporate adoption of Bitcoin treasury strategies accelerated in 2025, with a growing number of publicly traded companies adding Bitcoin to their balance sheets as a long-term asset.

At the time of writing, publicly listed companies collectively held about 1.1 million BTC, representing about 5.5% of the 19.97 million coins in circulation.

Source: BitcoinTreasuries.NET

Companies that adopted treasury strategies over the past year have done so amid less favorable market conditions.

According to Markus Thiele, founder of 10x Research, many digital asset treasuries saw their net asset values fall in November, constraining capital raising and leaving existing shareholders stuck with mounting paper losses.  

Cointelegraph reported that Bitcoin treasury adoption slowed in late 2025, with a total of 117 companies adopting BTC reserves over the year.

However, corporate ownership remains highly concentrated, with MARA Holdings having 53,250 BTC on its balance sheet and Twenty One Capital holding 43,514 BTC, second only to Strategy.

Top 20 Bitcoin treasury companies. Source: BitcoinTreasuries.NET

Magazine: Davinci Jeremie bought Bitcoin at $1… but $100K BTC doesn’t excite him

Bitcoin’s (BTC) push toward $100,000 met strong resistance, with spot demand showing signs of exhaustion just as sellers stepped in. After setting a local high near $98,000 on Wednesday, BTC retraced for two straight sessions and slipped below $95,000 by Friday New York session.

Key takeaways:

Bitcoin’s pullback followed fading spot demand, reflected in a weakening Coinbase premium.

Data suggest rallies were driven by aggressive buyers, but without sustained follow-through.

Short-term holders sold over 40,000 BTC into strength as the price neared its cost basis.

Bitcoin spot demand fails at the local top

The correction coincided with a rollover in the Coinbase Bitcoin premium index. The metric briefly flipped positive near the highs, a sign of late spot buying, but the price failed to break higher, suggesting limited follow-through from larger buyers.

Bitcoin Coinbase Premium Index. Source: CoinGlass

Bitcoin’s cumulative volume delta (CVD) made higher highs while price formed a higher low. This divergence typically shows aggressive market buying absorbing sell pressure, but without enough strength to push the price higher. 

At the same time, the bid–ask ratio stayed negative throughout the rally, meaning sell orders continued to outweigh bids even as the price moved up, a sign that buyers were lifting offers rather than building passive support.

Bitcoin price, CVD, open interest, bid-ask ratio, and liquidation. Source: Hyblock Capital

After a sharp, short liquidation, open interest also fell alongside the price. This indicates that leverage was flushed out, and new long positions were not eager to step in, reducing momentum behind the move.

Market analysis firm Material Indicators noted that bears “fought back hard,” with trend signals flipping on the daily chart. The firm warned that losing key trendlines could lead to a deeper support test, though a reclaim above $97,000 would invalidate the latest bearish signals.

Related: Bitcoin rally collapses at $97K as funding rate stalls, retail traders sit out

Short-term holders take profits near cost basis

The dip also followed clear profit-taking from short-term holders (STHs). On Jan. 6, when BTC reached $94,000, STHs sent over 30,000 BTC in profit to exchanges. That behavior repeated on Jan. 15 as the price broke above $97,000, with more than 40,000 BTC in profits realized in a single day.

Bitcoin short-term holder P&L to exchanges. Source: CryptoQuant/X

Although the STH discount has compressed from -22% to -4% over the past two months, the price stalled just below the STH cost basis near $98,300. With realized prices closer to $102,000, STH behavior suggests capital preservation remains the priority until stronger upside confirmation emerges.

Related: Bitcoin is now most undervalued versus gold: Will BTC price rebound?

A sharp fault line is forming across the digital asset industry between crypto products that increasingly resemble regulated financial institutions and a traditional banking sector warning that some of those innovations may be going too far.

That tension is on full display this week. JPMorgan is cautioning that yield-bearing stablecoins risk recreating core banking functions without the safeguards built up over decades of regulation. 

At the same time, Wall Street’s engagement with crypto continues to deepen, with Morgan Stanley’s exchange-traded fund (ETF) filings signaling what analysts describe as the next phase of institutional adoption, one that could force other banks to accelerate their own strategies.

Crypto-native companies are pushing further into regulated territory. Trump-linked World Liberty Financial is expanding its USD1 stablecoin into crypto lending; Figure Technology, meanwhile, is testing how far blockchain infrastructure can reach into capital markets by enabling onchain stock lending tied to real equity.

This week’s Crypto Biz takes the pulse of the growing tension between traditional finance and the expanding reach of digital asset markets.

Yield-bearing stablecoins pose serious risks, JPMorgan warns

JPMorgan Chase has embraced blockchain technology and expressed interest in stablecoins, but yield-bearing versions could pose significant risks to the financial system, according to the bank’s chief financial officer, Jeremy Barnum.

Speaking during JPMorgan’s fourth-quarter earnings call, Barnum addressed questions around stablecoins amid renewed lobbying by the banking sector and ongoing congressional scrutiny of digital asset legislation.

Barnum cautioned that interest-bearing stablecoins could replicate core banking functions without being subject to the same regulatory and prudential standards.

“The creation of a parallel banking system that sort of has all the features of banking, including something that looks a lot like a deposit that pays interest, without the associated prudential safeguards that have been developed over hundreds of years of bank regulation, is an obviously dangerous and undesirable thing,” he said.

Concerns like these help explain why banks have taken a cautious stance toward yield-bearing stablecoins, something Cointelegraph flagged last May.

Source: Radar w Archie

Despite four-year cycle debates, crypto enters next phase of institutional adoption

As crypto investors continue to debate the relevance of the four-year market cycle, Binance Research argues that a more consequential shift is unfolding: the next phase of institutional adoption, led perhaps unexpectedly by Morgan Stanley.

In its latest macro weekly report, Binance Research pointed to a “structural pivot” in digital asset markets, citing recent S-1 filings by Morgan Stanley related to proposed Bitcoin (BTC) and Solana (SOL) exchange-traded funds as a key development.

Binance Research said Morgan Stanley’s move could pressure other major banks, including Goldman Sachs and JPMorgan, to accelerate their own crypto strategies in order to remain competitive as institutional participation in digital assets expands.

Trump-linked World Liberty Financial targets crypto lending markets

World Liberty Financial is expanding into crypto lending, moving its $3.4 billion USD1 stablecoin into a new lending and borrowing platform called World Liberty Markets.

According to the company, the platform enables users to post collateral in a range of cryptocurrencies, including Ether (ETH), a tokenized version of Bitcoin and stablecoins USDC (USDC) and USDt (USDT). Loans are denominated in USD1, positioning the stablecoin as a core settlement asset within the lending system.

World Liberty co-founder Zak Folkman told Bloomberg that additional forms of collateral, including tokenized real-world assets, are expected to be introduced as the platform broadens its lending offerings.

The lending rollout follows World Liberty’s recent application for a national trust bank charter with the US Office of the Comptroller of the Currency, which the company said would support broader adoption of USD1 across cross-border payments and treasury operations.

World Liberty Financial’s stablecoin, USD1, has reached a market capitalization of $3.4 billion. Source: CoinMarketCap

Figure Technology targets tokenized stock lending

Figure Technology Solutions, a blockchain-based lending and financial infrastructure company, has launched a new system for stock lending that allows investors to lend shares directly to one another without relying on traditional intermediaries.

The platform, called the On-Chain Public Equity Network (OPEN), allows companies to issue real equity using Figure’s Provenance blockchain. Equity issued on OPEN represents actual ownership rather than synthetic exposure.

Figure CEO Mike Cagney said the shares can be lent or pledged directly onchain without custodians or other intermediaries. He added that several companies have already expressed interest in issuing shares on OPEN, including digital asset treasury companies.

Shares of Figure Technology Solutions (FIGR) have risen sharply since the company’s September initial public offering, giving it a market capitalization of about $12 billion. Source: Yahoo Finance

Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

David Solomon, CEO of banking giant Goldman Sachs, has weighed in on the pending digital asset market structure legislation, action on which was recently postponed by the US Senate Banking Committee.

In a Thursday earnings call discussing the company’s fourth quarter results for 2025, Solomon said many people at Goldman Sachs were “extremely focused” on issues including the Digital Asset Market Clarity (CLARITY) Act in the US Congress due to its potential impact on tokenization and stablecoins.

A markup of the bill scheduled for Thursday was postponed after Coinbase said it would no longer support the legislation as written. In a markup session, a congressional committee debates a bill and proposes amendments while considering whether it should advance to the full chamber for a vote.

“That bill, based on the news over the last 24 hours, has a long way to go before that bill is gonna progress,” said Solomon. “But I do think these innovations are important.”

The CEO’s remarks come amid pressure from many banks, cryptocurrency exchanges and companies involved in decentralized finance pushing for amendments in the CLARITY Act to suit their interests and those of their users. Among the issues over which they have voiced concerns include how the US Securities and Exchange Commission (SEC) will handle tokenized equities and stablecoin rewards.

Solomon also signaled that Goldman Sachs was considering business opportunities for prediction markets, saying that he met with representatives in the previous two weeks. Polymarket and Kalshi are popular prediction markets among crypto users.

Banks targeting stablecoin rewards in GENIUS Act, and now CLARITY?

Other industry leaders are anticipating that it could be weeks or months before the Banking Committee schedules another markup. Congress also needs to pass another funding bill before the end of January to avoid a government shutdown after the longest one in the country’s history delayed consideration of the CLARITY Act in 2025.

Some interest groups representing banks have lobbied for the bill to prohibit interest-bearing stablecoins. The most recent draft in the Banking Committee, before the markup was postponed, suggested that lawmakers were looking to ban passive returns on stablecoin balances, but not completely rule out rewards on the digital assets.

As of Thursday, no markup appeared on the Banking Committee’s calendar. However, the Senate Agriculture Committee is scheduled to hold a markup on its version of the market structure bill on Jan. 27.

Magazine: Big questions: Would Bitcoin survive a 10-year power outage?

Newrez plans to treat eligible cryptocurrency holdings as qualifying assets in its mortgage underwriting process, a move that could broaden access to home loans for crypto holders.

The change is expected to take effect in February across the lender’s non-agency products, covering home purchases, refinancings and investment properties. While borrowers can already use assets such as stocks and bonds in underwriting, crypto holders have typically been required to sell their positions.

At launch, Newrez said it will recognize Bitcoin (BTC), Ether (ETH), spot exchange-traded funds (ETFs) backed by those assets, and US dollar-backed stablecoins. The crypto assets must be held with US-regulated crypto exchanges or fintech platforms, brokerages or nationally chartered banks, the company said.

Under the policy, cryptocurrency holdings considered in underwriting may have valuations adjusted to reflect market volatility, while borrowers would still be required to cover closing costs and make mortgage payments in US dollars.

Newrez chief commercial officer Leslie Gillin said about 45% of Gen Z and Millennial investors own cryptocurrency, adding that the policy is aimed at broadening access to homeownership among younger buyers.

US regulators weigh crypto’s role in mortgage underwriting

The move by Newrez follows policy discussions in the US over whether digital assets should be considered in mortgage risk assessments.

In June 2025, the US Federal Housing Finance Agency (FHFA) instructed Fannie Mae and Freddie Mac to develop proposals examining how to consider cryptocurrencies as assets in single-family mortgage risk assessments without conversion to US dollars. 

Less than two months later, Wyoming Senator Cynthia Lummis introduced the 21st Century Mortgage Act, which would codify the FHFA directive.

Lummis said the bill addresses housing affordability challenges for younger Americans, adding that “the American dream of homeownership is not a reality for many young people” and that the legislation reflects the growing number who hold digital assets.

The bill was read twice in the Senate and referred to the Committee on Banking, Housing and Urban Affairs, where it has not advanced further.

Although limited in scope, a market already exists for crypto-backed home financing, allowing borrowers to use BTC or ETH as collateral. 

Mauricio Di Bartolomeo, co-founder of Ledn, told Cointelegraph in June that some Bitcoin holders have used their assets to finance real estate purchases without liquidating them.

Magazine: Here’s why crypto is moving to Dubai and Abu Dhabi

Bitcoin’s (BTC) rally above $97,000 was supported by surging inflows to the spot Bitcoin ETFs, and one analyst says that the demand must continue for BTC to break through the $100,000 barrier.

Key takeaways:

US spot Bitcoin ETFs recorded $1.8 billion in weekly net inflows, the strongest since early October 2025.

Total net assets under spot ETFs remain 24% below their Q4 2025 peak.

Long-term supply-demand dynamics continue to favor ETFs, as institutional investor access is expected to expand in 2026.

Bitcoin ETF are only one part of the picture

US spot Bitcoin ETFs logged $1.8 billion in net inflows this week, marking the largest weekly intake since the first week of October 2025. The move comes as BTC again tests resistance near the $98,000 level, signaling renewed institutional interest.

Total Bitcoin spot ETFs net inflow. Source: SoSoValue

Despite the rebound, ETF positioning remains well below previous highs. The total net assets under management across US spot Bitcoin ETFs peaked at $164.5 billion in Q4 2025 but currently stand near $125 billion. This represents a drawdown of roughly 24%, underscoring that recent inflows have only partially offset earlier outflows.

According to the Bitcoin macro intelligence newsletter, Ecoinometrics, short bursts of ETF inflows have repeatedly led to brief price bounces followed by fading momentum.

“Bitcoin doesn’t need a few good days. It needs a few good weeks,” the newsletter said, noting that cumulative ETF flows remain in a deep drawdown. A handful of positive sessions barely registers against prolonged periods of selling. Until inflows cluster over multiple weeks, rallies are more likely to stabilize the price than restart a durable uptrend.

Bitcoin, Ether ETF flow decline and recovery. Source: Ecoinometrics/X

Related: Bitcoin whale balances see 21% bounce after fastest sell-off since 2023 ends

BTC supply-demand imbalance favors ETFs in the long-run

From a structural standpoint, spot ETF demand continues to outpace new Bitcoin supply. According to Bitwise, since US Bitcoin ETFs launched in January 2024, they have purchased approximately 710,777 BTC, while the network has produced just 363,047 BTC over the same period. Bitcoin’s price has risen about 94% since then, reflecting that imbalance. 

Looking ahead, new supply is relatively predictable, while demand could expand further as institutional investor access to Bitcoin broadens. Notably, 2026 could be the year most institutional allocators continue to broadly access crypto ETFs, as Bitwise predicted,

“ETFs will purchase more than 100% of the new supply of Bitcoin as institutional demand accelerates.”

In 2025, Bitwise forecast that Bitcoin inflows into publicly listed companies building BTC treasuries, sovereign wealth funds, ETFs, and nation-states could reach $300 billion in 2026.

The company highlighted that US spot Bitcoin ETFs attracted $36.2 billion in net inflows in their inception year, reaching $125 billion in AUM far faster than SPDR Gold Shares did in its early growth phase.

Related: Bitcoin traders predict ‘strong run-up’ as classic chart targets $113K

Cryptocurrency markets posted a broad recovery this week, led by gains in major coins, even as investor attention remained focused on the uncertainty of pending US crypto legislation.

Bitcoin (BTC) rose over 5% during the past week to top the $95,000 mark, while Ether (ETH) pumped by around 6.6% on developments related to the top Ethereum treasury companies.

US spot Bitcoin exchange-traded funds (ETFs) also returned with a bang, with the funds logging four consecutive days of net positive inflows of around $1.7 billion in total, according to Farside Investors.

Despite the price recovery, market sentiment was shaped by developments in Washington. US Senator Cynthia Lummis said the Senate Banking Committee is expected to delay its markup of the long-anticipated CLARITY Act, legislation aimed at establishing a market structure framework for digital assets.

Coinbase CEO Brian Armstrong was among those who expressed concerns over multiple provisions related to tokenized equities and decentralized finance in the existing draft legislation.

Bitcoin ETF flows, USD million. Source: Farside Investors

Senator Lummis expects delay to crypto market structure markup: Bloomberg

US Senator Cynthia Lummis reportedly expects the US Senate Banking Committee to delay its hearing on crypto market structure legislation after Coinbase withdrew support for the bill.

There were already some murmurs of a CLARITY Act Senate markup delay on Wednesday, which were heightened following an X post from Bloomberg reporter Steven Dennis on Wednesday night. Dennis stated:

“Lummis tells me her recommendation and expectation is that the markup be pulled for now. It’s Banking Chair Tim Scott’s call.”

The Senate markup was scheduled for Thursday at 10:00 am Eastern Time.

Cointelegraph reached out to Scott’s office for comment, but didn’t receive an immediate response.

Source: Steven Dennis

Lawmakers have been consulting with members of the banking and crypto industries over provisions of the CLARITY Act for several weeks.

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BitMine to invest $200 million in YouTuber MrBeast’s Beast Industries

BitMine Immersion Technology has agreed to invest $200 million in Beast Industries, the entertainment company founded by YouTube star Jimmy Donaldson, better known as MrBeast, in a deal that marks one of BitMine’s biggest non-core equity investments to date.

BitMine will make a $200 million equity investment into Beast Industries, the company announced on Thursday. 

Donaldson operates a network of YouTube channels that collectively have more than 450 million subscribers, according to publicly available figures.

“MrBeast and Beast Industries, in our view, is the leading content creator of our generation, with a reach and engagement unmatched with GenZ, GenAlpha and Millennials,” said Thomas Lee, the chairman of BitMine. “Beast Industries is the largest and most innovative creator based platform in the world and our corporate and personal values are strongly aligned.”

The company did not disclose the size of the stake BitMine will acquire, the valuation of Beast Industries or any governance rights tied to the investment

The companies said the deal is expected to close on Monday.

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Perp DEXs will “eat” expensive TradFi in 2026: Delphi Digital

Perpetual decentralized exchanges (DEXs) are gaining traction as traders turn to blockchain-based platforms that promise lower costs and fewer intermediaries than traditional centralized venues.

Perp DEXs are blockchain-based venues for trading perpetual futures contracts, allowing traders to bet on the underlying asset's price with leverage and without an expiry date.

Crypto research firm Delphi Digital said in its outlook for 2026 that perp DEXs are poised to continue taking market share from traditional finance products. It argued that decentralized infrastructure is structurally more efficient than legacy systems, which it described as fragmented and expensive to operate.

“Now Hyperliquid is building native lending. Perp DEXs could become brokerage, exchange, custodian, bank, and clearinghouse all at once,” wrote Delphi Digital in a Tuesday X post, adding that competitors such as Aster, Lighter and Paradex are “racing to catch up.”

Source: Delphi Digital

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Trump-linked World Liberty brings $3.4 billion stablecoin into crypto lending markets

World Liberty Financial, a decentralized finance project linked to the family of US President Donald Trump, has entered the cryptocurrency lending market, highlighting renewed interest in onchain credit as regulatory clarity improves.

The new product, called World Liberty Markets, launched on Monday and allows users to borrow and lend digital assets, according to a Bloomberg report. The platform is built around USD1, World Liberty’s US dollar–backed stablecoin, alongside its governance token, WLFI.

Users can post collateral, including Ether, a tokenized version of Bitcoin, and major stablecoins such as USD Coin (USDC) and Tether (USDT). The platform is designed to support both lending and borrowing activity within a single onchain marketplace.

World Liberty co-founder Zak Folkman told Bloomberg that additional collateral types will be added over time, potentially including tokenized real-world assets (RWAs). He also said the company is exploring partnerships with prediction markets, cryptocurrency exchanges and real estate platforms.

World Liberty Financial USD (USD1) has grown rapidly, with a market capitalization of $3.4 billion. Source: CoinMarketCap

The lending rollout follows World Liberty’s recent application for a national trust bank charter with the US Office of the Comptroller of the Currency. The company has said the charter would support broader adoption of USD1, which is already being used for cross-border payments and treasury operations.

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DeFi quietly breaks up with Discord as scams overwhelm public channels

Decentralized finance (DeFi) protocols are abandoning public Discord servers, arguing that the platform has become more of a liability than a community hub. 

The shift drew attention on Wednesday after DeFi lending protocol Morpho said it had moved its public Discord server into read-only mode, directing users instead to alternative support channels. The move reflects growing concern that Discord has become a favored hunting ground for scammers targeting crypto users.

The concern is not limited to Morpho. DeFi data platform DefiLlama’s pseudonymous founder 0xngmi said they have been quietly reducing their reliance on Discord, favoring more controlled communication tools. 

Several builders say the goal is to move away from always-on chat rooms toward structured support systems designed to protect users rather than maximize engagement.

Edit the caption here or remove the text

Source: Anton Cheng

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DeFi market overview

According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.

The privacy-preserving Dash (DASH) token rose 136% as the week’s biggest gainer, followed by the Monero (XMR) coin, up 49% during the past week.

Edit the caption here or remove the text

Total value locked in DeFi. Source: DefiLlama

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

Shares of Riot Platforms jumped more than 11% after the crypto miner said it sold Bitcoin to help finance a land acquisition in Texas.

In a Friday notice, Riot said the $96 million deal for 200 acres of land in Rockdale, Texas was funded entirely by the sale of about 1,080 Bitcoin (BTC). The miner also signed a data center lease and services agreement with semiconductor company Advanced Micro Devices (AMD), initially deploying 25 megawatts (MW) of “critical IT load capacity.”

“These results mark a pivotal moment that cements Riot’s position as a leading data center developer, less than twelve months since the launch of our formal process to evaluate our assets for AI/HPC use,” said Riot CEO Jason Les.

Source: Riot Platforms

Riot said the agreement for an initial 10-year term could generate about $311 million in revenue for the company, with the potential for $1 billion if three five-year extensions were exercised. The company’s shares on the Nasdaq under the ticker symbol RIOT surged to $18.80 amid the announcement, marking an 11% increase in the previous 24 hours. 

The Texas deal followed Riot announcing last week that it had sold 1,818 BTC in December as part of a strategy shift from mining the cryptocurrency to using its data center infrastructure for other applications, including artificial intelligence. The company reported holding 18,005 BTC as of Dec. 31, worth more than $17 billion at the time of publication.

CleanSpark is also expanding Texas operations with AI and high-performance computing

CleanSpark announced a move similar to Riot’s on Wednesday after the Bitcoin mining company reached an agreement to buy 447 acres of land in Brazoria County, Texas. The miner said it planned to develop a 300 MW data center, which could be “designed for artificial intelligence and high-performance computing workloads.”

Riot and CleanSpark are just two of many companies focused on mining and crypto mining infrastructure to broaden their services amid increasing BTC difficulty. MARA Holdings, Core Scientific, Hut 8 and TeraWulf have also announced plans aligned with AI and high-performance computing.

Magazine: Big questions: Would Bitcoin survive a 10-year power outage?

Key points:

Bitcoin is attempting to find support near the $94,500 level, signaling a positive sentiment.

Buyers will have to defend the support levels in select major altcoins; else the recovery could fizzle out.

Bitcoin’s (BTC) shallow pullback is attempting to find support near the $94,500 level, indicating a lack of aggressive selling by the bulls. A positive sign is that BTC’s rally above $97,500 was supported by solid buying by institutional investors since Monday. According to Farside Investors data, spot BTC exchange-traded funds recorded $1.81 billion in net inflows this week. 

BitMEX co-founder Arthur Hayes said in a post on Wednesday that BTC will get its groove back in 2026 as dollar liquidity will expand in 2026. Hayes added that as dollar liquidity rises rapidly, “BTC will follow.”

Crypto market data daily view. Source: TradingView

While the near-term signals point to a possible rally above the psychological level of $100,000, traders need to be watchful. Daan Crypto Trades said in a post on X that BTC needs to hold the $94,000 region as a break below it “would not make for a pretty look.”

Could BTC and the major altcoins resume their relief rally? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

BTC pierced the $96,846 resistance on Wednesday, but the bulls could not sustain the higher levels. The price slipped back below the breakout level on Thursday.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

A minor positive in favor of the bulls is that they have not given up much ground. If the price turns up from the current level and breaks above $97,925, it signals the resumption of the up move. The BTC/USDT pair could rally to $107,500, with a minor stop at $100,000.

This positive view will be invalidated in the near term if the Bitcoin price turns down and breaks below the 20-day exponential moving average ($92,083). The pair may then drop to the 50-day simple moving average ($90,127).

Ether price prediction

Ether (ETH) bulls are attempting to hold the price above the resistance line, but the bears continue to exert pressure.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The moving averages are the crucial support to watch out for on the downside. If the price rebounds off the moving averages, the bulls will attempt to drive the ETH/USDT pair to $3,659 and subsequently to $4,000.

Alternatively, a close below the moving averages suggests that the break above the triangle may have been a bull trap. The Ether price could then plunge to the support line. Buyers will attempt to defend the support line as a break below it tilts the advantage in favor of the bears. The pair may then collapse to $2,623.

XRP price prediction

XRP (XRP) turned up from the moving averages on Tuesday, but the bounce fizzled on Wednesday, indicating selling on every minor rally.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The bears will attempt to pull the XRP price below the 50-day SMA ($2.01). If they succeed, it suggests that the XRP/USDT pair could remain inside the descending channel pattern for a while longer.

The bulls will have to kick the price above the downtrend line to signal a potential short-term trend change. The pair may then climb to $2.70. On the downside, a close below the support line could sink the pair toward the Oct. 10 low of $1.25.

BNB price prediction

BNB (BNB) is witnessing a tough battle between the bulls and the bears at the breakout level of $928.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA ($903) and the RSI above the 61 level indicate that the bulls have the upper hand. If the BNB price turns up from $928, it suggests that buyers have flipped the level into support. That enhances the prospects of a rally toward the pattern target of $1,066.

On the contrary, if the price tumbles below the moving averages, it signals that the breakout above the $928 level may have been a bull trap. The BNB/USDT pair may then descend to the uptrend line.

Solana price prediction

Solana (SOL) turned down from the $147 level on Thursday, but a positive sign is that the bulls have not ceded much ground to the bears. 

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA ($137) and the RSI in the positive territory suggest that buyers are in control. That increases the likelihood of a break above the $147 resistance. The SOL/USDT pair could then surge toward $172.

Sellers will have to pull the price below the 50-day SMA ($132) to weaken the bullish momentum. The Solana price could then remain inside the $117 to $147 range for a few more days.

Dogecoin price prediction

Dogecoin’s (DOGE) bounce off the moving averages on Tuesday could not reach the overhead resistance at $0.16, signaling a lack of demand at higher levels.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

The flattening moving averages and the RSI near the midpoint suggest the DOGE/USDT pair may form a range in the near term. If the Dogecoin price skids below the moving averages, the pair could tumble to $0.13 and then to $0.12. 

Buyers will have to shove the price above the $0.16 level to seize control. If they do that, the pair could rally to $0.20. Such a move indicates that the market has rejected the breakdown below $0.13.

Cardano price prediction

Cardano (ADA) returned from the downtrend line on Wednesday, indicating that the bears are active at higher levels.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

There is minor support at $0.38, but if the level cracks, the ADA/USDT pair could slide toward $0.33. Buyers are expected to vigorously defend the $0.33 level as a break below it could sink the pair to the Oct. 10 low of $0.27.

The first sign of strength will be a break and close above the downtrend line. The Cardano price could then surge to the breakdown level of $0.50, where the bears are expected to mount a strong defense.

Monero price prediction

Monero (XMR) skyrocketed to $800 on Wednesday, but the long wick on the candlestick shows selling at higher levels.

XMR/USDT daily chart. Source: Cointelegraph/TradingView

The pullback is expected to find support at the 38.2% Fibonacci retracement level of $653 and below that at the 50% retracement level of $608. If the price rebounds off the support, the bulls will again strive to propel the XMR/USDT pair above $800. If they can pull it off, the Monero price could resume its uptrend toward $1,000.

On the contrary, a break and close below the $608 level suggests the bulls are losing their grip. The pair may then slump to the 20-day EMA ($543).

Bitcoin Cash price prediction

Bitcoin Cash (BCH) attempted a rally above the $631 resistance on Thursday, but the bears successfully defended the level.

BCH/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($613) has started to turn down, and the RSI is in the negative territory, indicating a slight edge to the sellers. If the price sustains below the 50-day SMA ($591), the BCH/USDT pair could slump to $563 and then to $518.

Buyers are likely to have other plans. They will attempt to defend the 50-day SMA and swiftly thrust the Bitcoin Cash price above the $631 level. If they manage to do that, the pair could surge to $720.

Chainlink price prediction

Chainlink (LINK) remains stuck inside the $11.61 to $14.98 range, indicating buying near the support and selling close to the resistance.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

The moving averages are the crucial support to watch out for on the downside. If the price rebounds off the moving averages, the bulls will make another attempt to drive the LINK/USDT pair above the $14.98 resistance. If they succeed, the Chainlink price could surge toward $17.66.

Instead, if the price skids below the moving averages, it suggests that the pair may extend its stay inside the range for some more time.

Bitcoin (BTC) slipped into its deepest undervaluation against gold (XAU) on Friday, reviving expectations of a potential capital rotation away from the precious metal and back into cryptocurrency markets in 2026.

Key takeaways:

Bitcoin is at a record undervaluation versus gold, a level historically linked to major BTC bottoms.

Past gold-led cycles favor a bullish outlook for BTC price in 2026.

Bitcoin will “massively outperform gold” in 2026

The undervalued reading came from the BTC–XAU ratio’s Z-score, a metric that measures how far the current ratio deviates from its long-term average.

BTC/XAU Z-score and its standard deviation bands. Source: JV_Indicators

A reading below −2 indicated that Bitcoin was trading more than two standard deviations below its historical norm compared to gold, which is extremely rare. In this case, BTC entered the model’s lowest band for the first time on record.

Historically, moves in the BTC/XAU ratio toward the −2 standard deviation zone preceded extended periods of Bitcoin outperforming gold, as shown in the Power-Law bands graph below.

BTC/XAU weekly chart. Source: JV_Indicators

“Everything points to Bitcoin massively outperforming Gold over the coming months,” said Julius, the analyst who conceptualized the BTC/Gold Power-Law bands and the Z-score oscillator

What does gold’s record rally mean for BTC price?

In the past, the Z-score’s dips toward the −2 standard deviation zone marked major Bitcoin bottoms.

For instance, a BTC/XAU undervaluation signal in November 2022 preceded a roughly 150% BTC price rally over the following year.

BTC/USD weekly chart. Source: TradingView

Similarly, Bitcoin rose by over 1,170% a year after the signal’s appearance in March 2020.

The Z-score correctly called Bitcoin’s macro tops, as well, according to Julius.

“At the end of 2017, Bitcoin was extremely overbought, while Gold was oversold,” he wrote in a X post on Jan. 3, adding:

“Shortly after, Bitcoin entered a bear market, and Gold began a multi-year rally toward new ATHs.”

In addition, historical data suggests that Bitcoin’s strongest price expansions tend to follow gold bull markets.

Source: X

BTC began its parabolic phases only after gold had already moved decisively above its long-term trend. In previous cycles, this lag ranged from roughly two months to over a year, after which BTC delivered its largest percentage gains.

Bitcoin’s discount versus gold, therefore, suggested a bullish price outlook for BTC in 2026, provided the historical pattern holds.

Multiple analysts projected BTC would reach $200,000–$300,000 by the year’s end.

Since missing its Jan. 15 markup date and being pushed to the end of the month, the Digital Asset Market Clarity (CLARITY) Act is becoming a proxy fight over who gets to intermediate US dollar yield onchain — open decentralized finance (DeFi) protocols and payment rails, or a narrow club of large custodians and banks?

With the latest draft tightening how rewards on stablecoins can be offered, critics, including stablecoin issuers and institutional DeFi platforms, warn the bill risks exporting onchain credit offshore rather than making it safer in the United States.

Coinbase revolt highlights mounting industry unease

Coinbase’s decision to pull support for the bill this week laid bare industry fears that the compromise has tipped too far toward incumbents, the text locking in a punitive model for DeFi and rewards.

Coinbase CEO Brian Armstrong argued that it was better to have “no bill than a bad bill,” and chief legal officer at Variant Fund, Jake Chervinsky, said that CLARITY was the kind of law that would “live for 100 years,” and “We can take all the time we need to get it right.”

CLARITY will “live for 100 years.” Source: Jake Chervinsky

Related: Coinbase CEO expects market structure bill markup ‘in a few weeks’

How CLARITY reshapes onchain dollar yield

Clearpool onchain credit marketplace CEO and co-founder Jakob Kronbichler spoke to Cointelegraph about the CLARITY Act’s “core risk”: regulators deciding where yield is allowed to exist, instead of how risk is managed in onchain markets. 

“Demand for dollar yield won’t disappear because of legislation,” he said, arguing that if compliant onchain liquidity structures are constrained, activity is “likely to move offshore or concentrate in a small number of incumbent intermediaries.”

Ron Tarter, CEO of stablecoin issuer MNEE and a former lawyer, echoed Kronbichler’s concerns, telling Cointelegraph, “If stablecoin rewards are pushed offshore rather than made transparent and compliant onshore, the US risks losing both innovation and visibility into these markets.”

“That choice will shape where institutional onchain credit develops over the next decade,”  Kronbichler warned.

Tarter reads CLARITY as drawing a deliberate line between passive, deposit‑like interest and activity‑based incentives, adding that the key fulcrum is the phrase “solely in connection with holding.”

From his perspective, the bill is trying to mediate between banking groups worried that stablecoin yields could drain deposits and platforms viewing rewards as a core revenue stream and incentive.

Related: Crypto industry split over CLARITY Act after Coinbase breaks ranks

DeFi, developers and the “control” line

For now, Kronbichler sees one bright spot: CLARITY’s current approach “makes a sensible distinction by not treating developers of non‑custodial software as financial intermediaries,” something he calls critical for innovation and institutional comfort. 

The real challenge, he argues, is keeping compliance obligations tied to entities that actually control access, custody, or risk parameters, rather than drifting toward general software maintainers who do not. If those lines blur, institutional desks will struggle to assess liability and may simply avoid US‑facing onchain credit products.

Tarter agrees that the developer control test will likely be one of the most contested flashpoints at markup, expecting fierce debate over what qualifies as truly decentralized software and “situations where a small group can materially control outcomes.”

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

Honest yield and network activity

Amboss — data analytics for the Bitcoin Lightning Network — CEO Jesse Shrader sees a genuine consumer protection problem in rewards “simply for holding” that mask dilution or rehypothecation, pointing to past failures like Celsius and BlockFi. 

He draws a sharp line between opaque, platform‑defined yields and activity-derived yields, which, he argues, are more transparent from a network design perspective.

For lawmakers looking to preserve that distinction, Shrader’s first ask is simple: require regulated tokens to disclose clearly “the sources of their yield so consumers can adequately assess their risk.”

What kind of CLARITY outcome would genuinely protect users without choking compliant onchain dollar markets for everyone involved?

“A light touch from regulators is appreciated,” Shrader said, while Tarter believes the win comes from US policy protecting users “without banning compliant innovation” (and without locking in a rewards regime that only the largest custodians can afford to navigate).

Bitcoiners tip bullish pump in Q1

Bitcoin’s price look set to rip early in 2026, but the pump may be short-lived, according to Bitcoin OG analyst Willy Woo.

The trend so far paints a bullish pump in Q1, Woo tells Magazine, adding that the longer term structure is bearish.”

He adds his conviction is loosely held, no crystal ball.

January is typically a quieter month for Bitcoin, averaging just 4.28% gains since 2013, while February and March have historically produced stronger returns of 13.12% and 12.21%, according to CoinGlass.

Woo says Bitcoin’s performance in the near-term is dependent on investor flows, which he says has been in a six-month down trend. Bitcoin is trading at $95,520 at the time of publication, up 4.34% over the past seven days, according to CoinMarketCap.

Bitcoin has good odds”of heading to $108,000

Capriole Investments founder Charles Edwards said Bitcoins recent price surge opens up good odds of a trend to $108K from here.

Bitcoin is up 8.89% over the past 30 days. (CoinMarketCap)

Bitcoin just has its first promising technical move in a while, Edwards said. He explained that he would need to see Bitcoin close this week above $93,500 to confirm downside fakeout. Crypto analyst Rekt Capital said its likely that Bitcoin will be able to close above that price level.

Edwards declared that now would be a great time to turn this ship around. 

A quick move to $108,000 could wipe over $673 million in Bitcoin short positions.

XRP may falter upon “surprises” from CLARITY Act: Analysts

XRPs price could face near-term pressure if there are any unpleasant surprises around the US CLARITY Act voting process, according to Swyftx analyst Pav Hundal.

Members of the US Senate Banking Committee had been scheduled to markup the CLARITY Act on Thursday, but this was postponed after the draft bill faced backlash from some crypto industry executives worried lawmakers were giving too much ground to TradFi .

Coinbase CEO Brian Armstrong, one of the executives criticizing the draft bill, still expects a markup in the next few weeks.

Hundal added that political or macro shocks including an escalation in geopolitical tensions would create a difficult backdrop, raising the risk of sentiment and price quickly flipping against the token.

XRP is up 7.63% over the past 30 days. (CoinMarketCap)

XRP is trading at $2.06 at the time of publication, down 2.91% over the past seven days, according to CoinMarketCap.

From a technical perspective, Hundal says that XRP has successfully found buyers around its 50-day moving average, but recent attempts to push higher were rejected at the 200-day moving average near $2.39.

That might be a technical area that sellers again get busy, Hundal says.

“My caution on XRP is that further upside becomes too reliant on narrative, he adds.

Hundal believes that XRP is at a major test of actual conviction as XRP spot demand has been weakening since the middle of December.

Nansen analyst Jake Kennis tells Magazine that he also believes that the upcoming CLARITY Act Senate vote could have an impact on XRP’s price.

Kennis also points to other key near-term catalysts to watch, including Ripples RLUSD stablecoin expansion, which has reached a $1.33 billion market cap and is launching in Japan through SBI, as well as continued ETF inflows and the progress of Ripple National Trust Bank.

ETH about to start next “multi-year cycle,” an analyst says

Ether and altcoins may be entering their next multi-year cycles, with a potential price breakout toward all-time highs, crypto analysts say.

The bottom was Q4 2025 for both, crypto analyst Matthew Hyland said. Hyland said that this marked Ethereums fourth cycle, with its low coming just three months after reaching all-time highs of $4,953 in month 38 of the previous cycle.

The next cycle low is due in Q2 2029, Hyland said.

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Pseudonymous crypto trader Titan of Crypto says an ETH breakout is already underway.

If confirmed, the pattern target is $4,200, he said, which would be a 27.56% increase from its current price of $3,292, according to CoinMarketCap. 

Meanwhile, institutional forecasts are becoming more conservative for Ethers price.

Standard Chartered lowered its Ether price forecast to $7,500 for the end of 2026, down from its previously forecast $12,000, while lowering its end-2028 forecast to $22,000 from $25,000.

However, the bank expects Ether to surpass $40,000 by 2030, raising its long-term forecast from the previous $30,000 target.

The largest Ethereum public treasury company, BitMine, just staked another huge batch of Ether, bringing its total amount staked to over 1.5 million ETH.

Bitcoin sentimentis turning bearish…or bullish

Bitcoin sentiment on social media has turned increasingly pessimistic even as the asset has climbed roughly 5% over the past seven days, according to crypto sentiment platform Santiment.

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The commentary toward Bitcoin across social media has interestingly turned more and more bearish as prices have bounced this week, Santiment said on Thursday.

Santiment said rising FUD across social media over the past ten days could be the fuel Bitcoin needs to push back toward $100,000, noting that markets often move against retail sentiment.

However, other indicators suggest that sentiment among market participants is moving upwards.

The Crypto Fear & Greed Index moved into Greed territory on Thursday. (alternative.me)

The Crypto Fear & Greed Index, which measures overall crypto market sentiment, returned to greed on Thursday, with a score of 61, after hovering between fear and extreme fear territory since early November.

Meanwhile, the Altcoin Season Index, which is based on the performance of the top 100 altcoins relative to Bitcoin over the past 90 days, suggests that market participants are still in risk-off mode, with the index reading a Bitcoin Season score of 27 out of 100.

What are the prediction markets saying?

Prediction market participants are growing more confident that Bitcoin can reclaim six-figure levels by the end of the month, but how the year ultimately plays out remains far less certain.

Bitcoin has 5% odds of reaching $250,000 in 2026. (Polymarket)

The odds of Bitcoin ending January above $100,000 stand at 54%, according to crypto predictions platform Polymarket.

Longer-term, the market sees a 91% chance of Bitcoin ending the year above $100,000, but just a 54% probability of revisiting all-time highs above $120,000. 

The odds of the ambitious $200,000 price level are low, with odds at 10%, while downside fears still persist, with a drop below $75,000 holding a 63% probability.

Prediction markets show increasing skepticism around ETHs January performance, with the odds of finishing the month above $3,600 falling 14% to 36%. 

The probability of Ether trading above $3,800 in January is just 16%.

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Crypto entered 2026 with a familiar dichotomy: The industry is maturing, but its decentralized identity is at risk. Still, following years heavily dominated by speculation, 2025 became the year that pushed builders and investors toward fundamentals and proved that blockchain can support real-world goods, services and infrastructure.

In this week’s episode of Byte-Sized Insight, Cointelegraph explores what that shift looked like on the ground, particularly through the lens of the emerging “machine economy.”

DePIN brings “real-world” crypto closer

Leonard Dorlöchter, co-founder of peaq, argues that 2025 was a turning point in how projects were evaluated. 

“Fundamentals started mattering more and more,” he said, 

He added that “protocol revenue looked front and center” after an earlier period of memecoin-driven speculation. The push toward fundamentals has been driven partly by DePIN, decentralized physical infrastructure networks, where projects aim to build services that generate measurable revenue. 

Dorlöchter said, “We’ve been seeing early revenue, real revenue happening within DePIN,” and added that some networks are already proving “you can build a decentralized network of IoT devices… and channel those back to tokens.” 

For builders, the implication is clear: Revenue matters, but so does the type of value being created, especially as the industry pushes toward broader adoption.

The machine economy and onchain coordination

Dorlöchter described the machine economy as “any device, robot or agent autonomously transacting with each other or with humans as well.” He said the past year brought meaningful progress in standardization, including the release of protocols that help agents discover services and interact across systems. 

“A lot of the foundational work in terms of standardization has been happening last year,” he said, adding that “it really goes into production right now.” And for Dorlöchter, the stakes go beyond convenience:

“Blockchain technology is the enabling technology that allows us as a global society, to build neutral infrastructure.” 

Still, he also emphasized that decentralization must remain foundational even as regulation and mainstream adoption accelerate.

Looking ahead, he expects a rise in autonomous agents transacting onchain: 

“Agents will be making money independently… and they will also buy resources independently in order to keep running.” 

To hear the complete conversation on Byte-Sized Insight, listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And remember to check out Cointelegraph’s full lineup of other shows!

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

Ether (ETH) traded at $3,310, up 11% year-to-date, as renewed ETF buying and record on-chain activity placed it on a path toward $4,500 over the next few weeks.

Key takeaways:

Spot Ethereum ETFs recorded $474.6 million in inflows over four days, outpacing new supply amid a surge in institutional buying. 

Ethereum network activity exploded, with active addresses rising to a 28-month high. 

Traders expect ETH to rally to $4,500 as long as key support levels hold.

Ethereum ETFs attract nearly $500 million

Ether has seen a sharp increase in demand from institutional investors that have recently increased their ETH exposure through spot Ethereum exchange-traded funds (ETFs).

Data from Farside Investors reveals that US-based spot Ethereum ETFs have recorded inflows over four straight days, totaling $474.6 million. 

Related: Ether’s price vs. fundamentals gap may signal 2026 opportunity

The $175.1 million recorded on Wednesday was the highest since Dec. 9, 2025, and marked the largest single-day inflows of 2026. 

Spot Ethereum ETF flows table. Source: Farside Investors

Daily institutional buying, including both DATs and ETFs, has also risen to net buying of 6,964 ETH per day, according to data from Capriole Investments.

Ethereum: Daily rate of institutional buying. Source: Capriole Investments

Although monthly and weekly volumes continue to decline for Ethereum treasury companies, there are a few active players, such as Bitmine, led by Wall Street strategist Tom Lee, which continue to add ETH. 

While inflows have grabbed attention this week, a return to steady institutional demand is necessary for a sustained ETH price recovery.

Ethereum’s network activity is “exploding”

Ethereum’s network activity continues to show strength, with active addresses increasing by 53% over the last 30 days, reaching a 28-month high of 995,779 on Jan. 15, according to Nansen data. 

Daily active addresses on Ethereum. Source: Nansen

The last time Ethereum’s daily activity addresses saw these levels was on Sept. 13, 2023, when the metric surged to approximately 1.09 million — the second-highest level in the network's history, only behind a peak of around 1.4 million in December 2022.

The daily transaction count has also reached a record high of 2.9 million on Jan. 16, according to data from DefiLlama.

Ethereum DEX volume and App fees. Source: DefiLlama

“Daily Ethereum transactions are exploding,” said YouTuber CryptoRover in an X post on Friday, reacting to the network’s milestone. 

“Ethereum smashed a new ATH with 2.6M daily transactions and gas fees are below $0.01!!!,” fellow analyst FenoXBT said, adding:

“This is what real scaling looks like.”

Analysts say Ether’s price is “going higher”

At the time of writing, ETH was trading at $3,300, up 7.3% over the last seven days. 

As Cointelegraph reported, holding above the $3,050-3,170 demand zone is crucial to ETH’s upside prospects and sets the stage for a possible rally above $4,000.

The 50-week exponential moving average sits within this zone, and a weekly close above this trendline was necessary to secure the bullish weekly structure, according to trader Coinvo Trading. 

“The weekly structure stays intact, ETH is going higher.”

Source: Coinvo Trading

According to Crypto Rover, ETH is ready to explode as it shows strength after breaking out of a symmetrical triangle. The target of this triangle pattern on the daily chart is $4,500, according to data from TradingView. 

However, Crypto Rover shared a chart suggesting that an extended rally to $5,500, based on Fibonacci retracement analysis, as shown below. 

ETH/USD daily chart. Source: Crypto Rover

Revenue in the crypto industry is increasingly flowing to user-facing applications rather than the underlying blockchain networks, according to recent data, signaling a potential shift in where investors and developers focus their attention.

Decentralized finance (DeFi) applications now capture five-times the fees generated by blockchains, according to data shared by Jamies Coutts, chief crypto analyst at crypto intelligence platform Real Vision.

The trend suggests that more of the industry’s fees will be captured by DeFi applications like wallets, decentralized exchanges (DEXs) and other protocols, while the underlying networks will attract a smaller share of revenue.

“While I am a believer that blockchain’s network effects will always command a premium, it makes sense that more value than what is currently ascribed should drift to the front end — wallets, DeFi apps, and protocols closest to users,” wrote Coutts in a Thursday X post.

Source: Jamie Coutts

The chart shows a significant increase in the fee share captured by DeFi protocols, up from roughly parity in mid 2024.

Related: Short squeeze hits top 500 cryptos as traders unwind bearish bets

DeFi apps and protocols become blockchain industry’s top 17 earners

Data compiled by DeFiLlama shows that DeFi protocols now dominate the rankings of the highest-earning crypto products. The top 17 fee-generating entities over the past 30 days were applications or protocols rather than base-layer blockchains.

Solana captured over $20.4 million in fees over the past 30 days and was the only blockchain in the top 20. However, this pales in comparison to the $563 million generated by stablecoin issuer Tether, the leading protocol by fees, according to DeFiLlama.

Top protocols and chains by fees generated over past 30 days. Source: DeFiLlama

Ethereum was the only other blockchain to make the top 30, with $10.3 million generated in 27th place.

The dynamic suggests that developers and institutional investors may show increasing attention to DeFi apps rather than the underlying blockchain layer, as applications attract a growing share of total revenue.

Blockchains by active users, 30-day chart. Source: Nansen

Solana’s lead among the chains can be attributed to its activity, as Solana was the most-used network, with over 68 million active addresses during the past 30 days, up 14%, according to crypto intelligence platform Nansen.

Ethereum was in the sixth place, with 13 million active monthly addresses, up 53% during the past 30 days.

Magazine: Pakistan will deploy Bitcoin reserve in DeFi for yield, says Bilal Bin Saqib

A Telegram-based escrow service linked to an illicit online marketplace appears to be winding down operations after refunding more than $130 million in stablecoins, a move that analysts say could disrupt a major hub for crypto-related scams.

Tudou Guarantee, a service linked to the Huione Group, has apparently refunded $130 million in Tether USDt (USDT) to the group’s public merchants since the beginning of 2026, according to data shared by blockchain analytics company Bitrace. Refunds began with roughly $3.7 million on Jan. 1 and peaked at about $18.1 million on Sunday, Bitrace said.

Earlier on Friday, the company seemingly announced the shuttering of operations through its Telegram channel, according to screenshots shared by Bitrace.

Source: Bitrace

Refunds signal potential scam slowdown

The development may lead to a slowdown in phishing and pig butchering scams, which were previously offered as a service by hundreds of vendors on the marketplace.

In December, an investor lost their entire Bitcoin (BTC) retirement fund in an artificial intelligence-fueled romance scam, where the con artists used prolonged emotional manipulation to convince the investors to transfer their funds.

Source: Bitrace

Phishing scams became the second-largest threat after supply-chain breaches, costing crypto investors a cumulative $722 million across 248 incidents in 2025, according to blockchain security firm CertiK.

Related: Monero climbs to new high of $687 as crypto surveillance tightens

Elliptic uncovers $89 billion crypto, thousands of wallets tied to fraudster marketplace

Elliptic previously uncovered thousands of wallet addresses associated with Tudou Guarantee's vendors and operations to help users steer clear of this entity. 

The blockchain security company also flagged $89 billion in crypto received by these illicit wallets, according to a report published in January 2025.

Tudou Guarantee totalled at least $24 billion in transactions, increasingly relying on its cryptocurrency infrastructure. 

Huione quarterly payments received. Source: Elliptic

In September 2024, the marketplace launched a US dollar-based stablecoin as its latest crypto endeavour, after launching a blockchain, crypto exchange and messaging app.

Tudou Guarantee was rebranded from Huione Guarantee after Elliptic exposed it as a multi-billion-dollar marketplace for online fraudsters in July 2024.

Huione Group is a Cambodia-based financial conglomerate that operates payment service Huione Pay and crypto exchange Huione Crypto, along with Huione Guarantee.

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