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Владелец контрольного пакета криптобиржи Binance Чанпэн Чжао (Changpeng Zhao) поспорил с конкурентами и недовольными клиентами, обвинившими принадлежащую бизнесмену компанию в ошибках, усугубивших крах крипторынка.

Bitcoin’s derivatives market is showing clear signs of deceleration. A CryptoQuant analyst highlights that monthly Bitcoin futures trading volume across all exchanges fell to approximately $1.09 trillion in January, marking the lowest level since 2024. This represents a notable slowdown compared to earlier phases of the cycle, when monthly volumes frequently exceeded $2 trillion, reflecting a period of reduced speculative intensity and more cautious positioning among traders.

Despite the broad contraction in activity, liquidity has not dispersed evenly across the market. Instead, futures trading remains highly concentrated on a small number of dominant venues. Binance continued to lead the sector, recording roughly $378 billion in futures volume for the month. It was followed by OKX, with approximately $169 billion, and Bybit, which registered close to $156 billion. Together, these platforms accounted for a significant share of total derivatives activity, underscoring their role as primary liquidity hubs even as overall participation declined.

This concentration suggests that while fewer market participants are actively trading futures, those that remain are operating within established, deep-liquidity venues. Rather than signaling stress or forced deleveraging, the slowdown appears consistent with a phase of consolidation, where traders reassess risk exposure and reduce turnover without abandoning the derivatives market entirely.

Bitcoin Futures Volume Signals Speculative Cooldown

The drop to the lowest monthly futures volume since 2024 reflects a clear reduction in trading intensity compared with earlier stages of the cycle, when aggregate monthly volumes regularly exceeded $2 trillion. This shift points to a moderation in short-term speculative behavior and a pullback in aggressive positioning, particularly among traders who rely heavily on leverage to amplify returns.

As volatility compresses and directional conviction weakens, these participants tend to reduce activity, contributing to lower overall turnover in the derivatives market.

Such phases are not unusual within Bitcoin’s market structure. Historically, periods of declining futures volume often follow extended stretches of heightened volatility, serving as a reset mechanism where traders reassess risk exposure, tighten position sizing, and wait for clearer signals before re-engaging. Rather than reflecting a loss of interest in Bitcoin itself, the slowdown suggests a temporary pause in speculative appetite.

Importantly, the contraction in volume appears orderly rather than abrupt. There are no clear signs of widespread stress, panic-driven exits, or forced deleveraging. Instead, the gradual decline indicates a controlled reduction in participation, with large and professional players selectively scaling back exposure. This behavior leads to lower trading activity without destabilizing price action or triggering disorderly liquidations.

The current environment is more consistent with consolidation than capitulation. Reduced futures volume highlights a market transitioning into a quieter phase, where leverage is unwound methodically and positioning becomes more conservative, setting the stage for a future expansion once volatility and conviction return.

Bitcoin Tests 100-Week Moving Average as Correction Stabilizes

Bitcoin’s weekly chart highlights a market that has transitioned from strong trend expansion into a corrective and consolidative phase. After peaking above the $120K region, BTC entered a broad pullback that erased a significant portion of the prior advance, bringing price back toward the low $80K area. This decline unfolded alongside a clear loss of momentum, visible in the series of lower highs and the rejection from the 50-week moving average (blue), which has now turned into dynamic resistance.

Currently, Bitcoin is trading near $82,800, sitting just above the 100-week moving average (green). This level is technically important, as it often acts as a medium-term trend filter during late-cycle corrections. So far, price has managed to stabilize around this zone, suggesting that selling pressure is no longer accelerating, but buyers have not yet regained control either. The 200-week moving average (red), still rising near the mid-$50K area, remains far below spot price, indicating that the broader macro trend has not broken down despite the correction.

Volume has contracted meaningfully compared to the distribution phase near the highs, reinforcing the idea that this move is corrective rather than panic-driven. Overall, the chart points to a phase of price compression and structural digestion. Bitcoin appears to be searching for acceptance around current levels, with the next decisive move likely dependent on whether the 100-week average holds or fails.

Featured image from ChatGPT, chart from TradingView.com 

The US Senate is edging closer to a full vote on the crypto market structure legislation, which could be a turning point for the likes of XRP. The bill, which aims to establish clear federal rules for how cryptocurrencies are regulated and traded, is viewed as a turning point for crypto assets like XRP that have long operated in regulatory gray zones. A yes vote would not just represent a political milestone; it could materially alter how XRP is valued, traded, and adopted across the US market.

What’s Happening With The Crypto Market Structure Bill?

The Crypto Market Structure bill is designed to create a clear federal regulatory framework for digital assets, giving oversight of spot markets to the Commodity Futures Trading Commission and defining rules for trading platforms, brokers, and dealers. Notably, the legislation has been advancing through committees, most recently the Senate Agriculture Committee. 

At the moment, the bill has cleared the Senate Agriculture Committee along strict party lines, but it has not yet been voted on by the full Senate. The Senate Agriculture Committee voted 12-11 along party lines to move its version of the bill forward after weeks of debate and amendment negotiations. All Democrats on the committee opposed it, meaning it passed only with Republican support.

On timing, senators and policy advisers have suggested that a floor vote by the Senate Banking Committee could happen later in the winter or early spring, possibly in February or March 2026. After this, the two committee versions can be reconciled into a single text that both parties can back. However, the full Senate vote on the legislation might not come until sometime around early July.

What Will Happen To The XRP Price?

XRP’s price history has been heavily influenced by regulatory questions and debates over whether it should be treated like a security. The cryptocurrency secured a regulatory victory in 2023 when a judge ruled that XRP was not a security in and of itself.

If the Senate passes the market structure bill, the clearer assignment of oversight to a single regulator would reduce that uncertainty. XRP would be valued more on usage and adoption, and that would remove the regulatory risk that has weighed on its price.

Unsurprisingly, this is the dominant sentiment among XRP investors and other crypto market investors. One XRP commentator, known as Cobb (@Cobb_XRPL) on the social media platform X, noted that XRP is going to pump so hard if the Crypto Market Structure bill passes. Still, the longer-term impact on XRP will depend on how the regulatory framework is implemented and how quickly exchanges, institutions, and developers adapt.

The bill would require the backing of at least seven Democrats in the Senate before it can eventually go to US President Donald Trump for approval.  Republican lawmakers like John Boozman, backing the bill, say it is necessary to create clear rules for digital asset markets. Opposing Democrats say the bill lacks important rules to prevent conflicts of interest involving political figures and crypto holdings. Crypto exchange Coinbase, for one, has pulled its support for the bill. 

The crypto market has come under heavy selling pressure amid a sharp deterioration in global risk sentiment. According to a CryptoQuant report, the latest downturn unfolded alongside a broader cross-asset sell-off, where traditional safe havens and risk assets were both hit.

Gold posted a sudden correction of roughly 8%, while silver dropped close to 12%. Bitcoin proved relatively more resilient, declining by around 9%, but it was not insulated from the wider liquidation wave. US equities also weakened, with both the S&P 500 and the Nasdaq participating in the move lower, reinforcing the idea of a synchronized risk-off event rather than an isolated crypto-specific shock.

The initial trigger came from announcements linked to Microsoft, particularly around its artificial intelligence investments. The news drove Microsoft shares down by more than 12%, setting off a domino effect across global markets as investors rapidly reduced exposure to crowded growth and technology trades. That repricing quickly spilled over into crypto derivatives.

Despite Bitcoin’s comparatively modest price decline, the leverage embedded in the market amplified the impact. Nearly $300 million in long positions were liquidated within a few hours. Hyperliquid absorbed the largest share, with $87.1 million in longs wiped out, while Binance recorded roughly $30 million. The episode highlights how fragile positioning and elevated leverage can transform moderate price moves into significant liquidation events across the crypto market.

Leverage Rebuild Signals Persistent Risk Appetite

Despite the recent drawdowns, leverage remains a defining feature of the current crypto market structure. According to top analyst Darkfost, many investors continue to pursue market exposure through high leverage, creating conditions where relatively small price moves can trigger sharp bursts of volatility.

These moves are frequently amplified by liquidation cascades, as forced position closures accelerate downside momentum. Crucially, this behavior persists even after the October 10 event, which previously led to a significant destruction of liquidity and capital across the market.

The persistence of this risk appetite is clearly visible in derivatives data. A useful way to isolate true positioning trends is to examine open interest expressed in BTC terms rather than notional value. By doing so, the distortion caused by price fluctuations is removed, offering a clearer picture of how much exposure traders are actually carrying. This approach highlights whether leverage is genuinely being rebuilt or merely appears higher due to price effects.

Viewed through this lens, open interest on Binance stands at approximately 123,500 BTC. This already exceeds the level recorded just before the October 10 sell-off, when open interest had fallen to around 93,600 BTC. The increase of roughly 31% since that low indicates that risk appetite has gradually returned. Rather than a crypto market operating defensively, current positioning suggests that leverage is once again accumulating, leaving prices vulnerable to further volatility if sentiment shifts abruptly.

Bitcoin Tests Key Support as Downtrend Pressure Persists

Bitcoin’s price action continues to reflect a fragile and corrective market structure. After failing to reclaim the $95,000–$100,000 region, BTC has extended its pullback and is now trading near the $82,800 area, marking a clear breakdown from the recent consolidation range. The move lower is occurring below the short- and medium-term moving averages, with price firmly capped by the declining 50-day and 100-day averages, reinforcing the loss of upside momentum.

The 200-day moving average remains well above current levels, highlighting the broader deterioration in trend strength since the October peak. Structurally, Bitcoin has transitioned from higher highs to a pattern of lower highs and lower lows, signaling that sellers continue to control rallies rather than buyers defending breakouts. Volume spikes during sell-offs, particularly in November and December, suggest distribution rather than healthy rotation.

The $82,000–$85,000 zone now stands out as a critical support area. A sustained hold could allow for short-term stabilization or range formation, but a decisive breakdown would expose deeper downside toward the $78,000–$80,000 region, where previous demand emerged. On the upside, any recovery attempt is likely to face immediate resistance near $88,000–$90,000, followed by stronger supply closer to $95,000.

Featured image from ChatGPT, chart from TradingView.com 

An interactive question-and-answer session between members of the community and David Schwartz has peeled back another layer of early XRP and Ripple history. 

The discussion unfolded publicly on the social media platform X, where users posed a series of questions touching on the token’s smallest unit, the creative forces behind the XRP Ledger, and even some forgotten cultural details from Ripple’s early internet presence. The responses from Schwartz offered rare insights into the personalities and ideas that shaped Ripple and the Ledger in its formative years.

Ripple Name, Drop, And The Role Of Arthur Britto

The exchange began when an XRP community member known as Bird asked Schwartz who came up with the term “drop” as the name for the smallest unit of the altcoin. The question was for clarifying historical details for documentation purposes. Schwartz replied that he could not say with absolute certainty, but he believed the idea came from Arthur Britto, one of the primary architects of the XRP Ledger.

Schwartz then expanded beyond the naming question and offered a personal comparison between himself and Britto. He described himself as having the same kind of intelligence as most people, just more of it, but said Britto possessed something entirely different, a rare quality that others simply do not have. 

Another community member, Toby, switched the conversation from technical history to cultural curiosity. He asked whether Ripple’s name, which also happens to be a Grateful Dead song, and the appearance of a Dancing Bear on an old Ripple 404 error page were part of some deeper internal joke or inspiration.

According to Schwartz, the only connection he was aware of was purely incidental. The ripple.com domain had been registered by a Grateful Dead fan who secured it because of the song, and Ripple later acquired the domain from that individual.

Reality Check On XRP Price Expectations

As the conversation continued, XRPL validator Vet asked Schwartz to provide a concrete example from the past that demonstrated the special quality he had attributed to Britto. Schwartz responded by pointing to two major ideas that originated with Britto: the concept of a decentralized exchange built directly into the XRP Ledger and the use of pathfinding to allow payments to draw incrementally from multiple liquidity sources.

The tone of the discussion changed again when another user urged Schwartz to publicly tell XRP supporters that the price could never reach figures like $50 or $100. However, Schwartz declined to make such a statement. 

He explained that although he personally does not think such price levels are likely, history has taught him caution when declaring what crypto prices cannot do. He recalled thinking XRP was unlikely to reach $0.25 and selling his holdings at $0.10 because it felt irrationally high at the time. This was at a time when Bitcoin reaching $100 seemed impossible.

Charles Hoskinson says a Circle-issued stablecoin product is headed to Cardano after what he described as “deep negotiations” between Circle and a Cardano-aligned negotiating group known as the Pentad (Input Output (IOHK), EMURGO, Cardano Foundation, Midnight Foundation, and Intersect). Speaking from Fukuoka on his Japan tour livestream titled “Circle and Pentad,” Hoskinson framed the deal as a long-awaited step toward bringing “tier one” stablecoin liquidity into Cardano’s DeFi stack.

USDCX To Launch On Cardano After Deal Signed

Hoskinson said the agreement is signed and positioned the integration as near-term rather than aspirational. “This is not something that’s six months out, ink is on paper, deal is signed,” he said, adding that integration work should happen “in short order.” The pitch is that Cardano gains access to Circle’s distribution rails and liquidity network, while developers can build around a familiar dollar asset without needing bespoke plumbing for every application.

What’s coming, per Hoskinson, is “USDCX,” which he described as effectively the same asset as USDC but deployed through a model Circle uses for non-EVM chains. “USDCX is basically same asset and how it works is there’s a one-to-one reserve,” he said. “So for the non-EV chains like Stacks and others there’s a mirroring effect that occurs […] and then it’s easy through their network to access the same liquidity as USDC. So effectively it’s what we need.”

In Hoskinson’s telling, the practical implication is straightforward: Cardano users and applications get stablecoin functionality tied into Circle’s broader liquidity environment, without waiting for a native issuance path that has been a recurring community demand. “People were asking for a long, long time to get a tier one stable coin to Cardano,” he said. “This is how you do it and now we’re here. So we have access to Circle’s network, Circle’s protocol, Circle’s technology and the great liquidity of the Circle network as a whole.”

Hoskinson also emphasized what he called privacy benefits in the “USDCX” design, though he did not specify implementation details on the stream beyond noting “the added privacy benefits of USDCX and all the technologies therein.” He praised Circle as a counterparty, calling them “consummate professionals” and “tough negotiator[s],” and credited the Pentad for representing Cardano’s interests across the talks.

A key operational question for Cardano’s DeFi market is how quickly the asset becomes usable across the app layer and centralized exchange rails. Hoskinson acknowledged that distribution is not automatic just because a deal is signed.

“We have to make sure that we get USDCX integrated into all of the Cardano applications and so there’s a seamless user experience and a seamless user experience with exchanges so you can go from USDC and back without any additional steps or work,” he said, characterizing the remaining work as “a little bit more integration on our side,” but “not too much.”

He argued that Circle’s prior work on other non-EVM deployments should compress timelines. “That’s one of the advantages of this new USDCX is fast integration time,” Hoskinson said. “It doesn’t require a ton of custom work to get working with Cardano because they’ve already done these types of things with Stacks.”

The announcement lands against a backdrop Hoskinson described as poor market conditions and sour sentiment, which he suggested has fueled skepticism around Cardano partnerships more broadly. In a longer aside, he pushed back on the idea that integrations like these are perpetually “maybe” milestones.

“I do know that there are certain people that are skeptical […] ‘Well, maybe [it] will come, maybe not. Who knows? We’ll wait and see,’” Hoskinson said. “I don’t know how else to convey than signing the deal, doing the integration work […] but I understand that the skepticism comes from the market sentiment at the end of the day.”

Circle and Pentad https://t.co/qSfF1D7bcM

— Charles Hoskinson (@IOHK_Charles) January 30, 2026

Hoskinson used the same segment to reiterate that Cardano’s roadmap and partner strategy remains the controllable variable, even if macro headlines and political noise aren’t. “All we have agency over is what we build, who we partner with, and our strategy as a whole,” he said, before citing ongoing efforts including Leios, Hydra, Pentad’s integration push, and Midnight.

At press time, ADA traded at $0.3258.

Even years after its inception, the XRP Ledger, one of the leading networks in the crypto space, continues to attract robust adoption and real-world usage. With thousands of transactions being conducted on the leading network’s DEX on a daily basis, it has now reached a historical level that marks its growing role in decentralized trading.

Decentralized Trading On XRP Ledger Accelerates

XRP is experiencing heightened interest not just in buying activity from traders; the XRP Ledger has been seeing significant usage over the past few weeks. While adoption has increased toward the network, the Ledger’s Decentralized Exchange (DEX) activity is breaking past prior highs.

Xaif Crypto, a market expert and investor on the X platform, reported that the Ledger DEX activity has surged to new levels. Specifically, data shows that the activity recently reached a 13-month high, signaling a sharp uptick in on-chain trading across the network.

As more liquidity and transactions move over XRPL’s native DEX infrastructure, the increase is indicative of increasing user involvement. Sustained growth in DEX activity frequently indicates deeper adoption and expanding use cases, in contrast to brief spikes caused solely by speculation.

According to the chart shared by the expert, the number of transactions on the 14-day MA rose to approximately 1.014 million, breaking the ceiling that held throughout all of 2025. With this level of DEX transactions, the XRP Ledger is becoming a more active center for decentralized trade within the larger cryptocurrency ecosystem.

Xaif Crypto stated that this massive transaction count is not just a mere spike; it signals sustained momentum for the Ledger. Currently, the network is witnessing a fresh wave of liquidity and real user engagement. As a result, the expert declares that the Ledger is heating up in 2026.

This milestone comes as the XRP Ledger rolls out a new Lending Protocol (XLS-66), which is attracting institutional-grade credit to the network. With the new Lending Protocol, the Ledger is now evolving into a full financial layer with Rippled 3.1.0.

The protocol includes the ability to create loans on the Ledger, with loan brokers being able to generate fixed-term and fixed-rate, uncollateralized loans. These loans are predictable for professional use.

In addition, these loans are held in a Single Asset Vault, allowing risk-isolated liquidity. Another feature is the off-chain underwriting for uncollateralized options. It boasts native efficiency, which offers low-cost lending without a middleman or intermediaries. In the meantime, Decentralized Finance (DeFi) on the Ledger has just undergone a boost.

The Lending Protocol Gains Institutional Support

Following its historical launch a few days ago, the new XRP Lending Protocol is now experiencing significant support from institutional-level investors. One of the earliest companies to interact with the new protocol is Evernorth, a leading public treasury company.

According to BankXRP, the company is backing the native lending protocol to help transition a $100 billion market cap into a productive, yield-bearing ecosystem. These kinds of moves are an indication that the future of institutional DeFi is becoming native-driven.

Судебные документы раскрыли подробности исчезновения арестованного в столице Сербии Белграде 22‑летнего канадца Андеана Меджедовича (Andean Medjedovic). Он обвиняется в хищении $65 млн у клиентов KyberSwap и Indexed Finance.

В январе средние затраты майнинговых компаний на добычу одного биткоина достигли $74 300, заявили аналитики управляющего криптоактивами хедж-фонда Capriole Investments.

The Bitcoin, Dogecoin, and XRP prices have crashed this week, recording massive declines, led by BTC, which dropped to new 2026 lows. This decline has been mainly due to macro fundamentals, including the Trump tariffs, which are causing market uncertainty. 

Why The Bitcoin, Dogecoin, And XRP Prices Are Crashing

The Bitcoin, Dogecoin, and XRP prices are down this week and are now suffering year-to-date (YTD) losses, according to CoinMarketCap. BTC dropped below $82,000 yesterday, marking a new yearly low for the leading crypto. One reason for this decline remains the Trump tariffs, which have heightened market uncertainty. 

Earlier this week, the U.S. president announced in a Truth Social post that he was increasing tariffs on South Korea from 15% to 25%. This came just days after he threatened to increase tariffs on Canada to 100% if they made a trade deal with China. It is worth noting that JPMorgan analysts, in a recent note, explained that the Trump tariffs, especially on China, are affecting dollar liquidity, which they indicated is already contributing to the decline in the prices of Bitcoin, Dogecoin, and XRP. 

These analysts explained that China has had to adapt to the Trump tariff pressure and, in doing so, is adversely affecting the dollar liquidity cycle. Notably, China has been selling off U.S. treasuries and buying more gold. Amid this development, the U.S. dollar has weakened, which will typically be bullish for BTC. 

However, these analysts stated that investors currently treat Bitcoin as a liquidity-sensitive risk asset rather than as a hedge against the USD weakness. Gold has instead taken the spotlight in this regard, reaching new highs as investors move to it as a safe haven. Notably, the Bitcoin, Dogecoin, and XRP prices also dropped yesterday as gold crashed over 6% amid a sudden sell-off. 

Meanwhile, rising tensions between the U.S. and Iran are also contributing to the decline in the Bitcoin, Dogecoin, and XRP prices. Earlier this week, Trump threatened strikes on Iran that would be far worse than the strikes last year. According to a Reuters report, the U.S. president is already weighing options against Iran, which could include targeted strikes on security forces and leaders. Iran has also vowed to respond like never before if pushed by the U.S.

A Hawkish Fed Is Also Sparking Bearish Sentiment 

The Fed also appears to be hawkish at the moment, which has sparked a bearish sentiment and contributed to the decline in Bitcoin, Dogecoin, and XRP prices. The Fed held interest rates at the FOMC meeting earlier this week, while signaling that they are in no hurry to make more rate cuts. This could mark the beginning of a rate-pause cycle, which could further constrain liquidity. 

Concerns about the Fed’s hawkish pivot have also worsened following reports that former Fed Governor Kevin Warsh is likely to become the next Fed Chair. Warsh is regarded as one of the more hawkish candidates for Fed chair, as he has advocated for a smaller Federal Reserve balance sheet. It also remains unclear where he stands on rate cuts, unlike the other candidates, who have declared support for lower interest rates.

Metaplanet, the Tokyo-listed firm that has been shifting into a Bitcoin treasury role, moved this week to shore up its balance sheet and add more BTC to its vault.

The company cleared a plan to raise up to about $137 million through a mix of new shares and stock acquisition rights aimed at buying Bitcoin, supporting its income business tied to BTC, and cutting some debt.

Reports say the fundraising will be done mainly with select overseas investors rather than a public share sale.

Metaplanet’s Capital Mix

According to filings, Metaplanet plans to issue 24.53 million new common shares at 499 yen apiece, which would bring in roughly 12.24 billion yen immediately.

In addition, the company will grant stock acquisition rights that could raise more money if exercised, taking the total potential haul to about 21 billion yen (roughly $137 million).

Reports note the share price for the offering sits a little above recent trading levels, but investors still reacted nervously.

A Push To Buy More Bitcoin

Metaplanet has been piling up BTC for a while. As of late December 2025, the company held about 35,102 Bitcoin, based on public updates.

The new funds are meant to let it keep buying while also giving breathing room for its Bitcoin income operations — those are businesses that try to earn fees or returns from BTC activity rather than from hotels or other old lines of business. Some of the cash will also go toward paying down borrowings tied to its recent credit facility.

Market Response And Risks

Stock traders pushed Metaplanet shares lower after the news, with the price slipping several percent during the session on concerns over dilution and the short-term impact of the issuance.

The company has faced sharp swings before: it booked a large non-cash impairment late in 2025 after Bitcoin’s fall, a hit that trimmed reported equity by a big sum and highlighted how tied the firm is to BTC prices. That accounting loss does not mean the coins were sold, but it did spook some investors.

Why This Matters

Reports say Metaplanet is trying to balance growth of its Bitcoin stash with steps to make its finances less fragile. The move shows a bet that holding more BTC and building services around it can pay off, but the plan also exposes shareholders to more swings in crypto markets.

For some investors, the chance to back a focused Bitcoin treasury is attractive. For others, the same bet looks risky, especially when big paper losses can show up on financial statements even while the firm holds the same coins.

Featured image from Unsplash, chart from TradingView