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XRP has racked up major wins recently, from regulatory breakthroughs to network upgrades, yet its price continues to slide. A crypto analyst has shared insights into why this is happening, outlining several developments this week that would typically act as bullish catalysts for the XRP price, but have so far failed to push the token out of its downtrend and propel its value to new highs. 

XRP Sees Four Major Developments In One Week

Despite experiencing four major developments in just one week, the XRP price has shown little reaction. Crypto market expert Chain Cartel has pointed out that while many traders focus on immediate price movements, Ripple Labs, the developer of XRP, is quietly building the infrastructure that could position it as a key system of record for digital settlements.

The analyst suggested that the market overlooks structural developments, underestimating their impact on long-term growth. He highlighted rumors of Ripple’s collaboration with Amazon Web Services (AWS) as one of this week’s major events, noting that the alleged partnership explores the use of Amazon Bedrock AI for the XRP Ledger (XRPL). 

With this integration, XRPL system logs that used to take days to process can be analyzed in just minutes. According to Cartel, this is not an “hype AI,” but a development focused on improving security and scalability, and on giving institutions better visibility into XRP. 

In his post, Cartel also highlighted Ripple’s regulatory progress in the UK. He announced that the UK subsidiary of the crypto company has not been registered with the Financial Conduct Authority, which is known as one of the world’s strictest financial regulators. He stressed that this approval is a significant milestone for Ripple, boosting its compliance credentials and international credibility. 

In addition to achieving even greater regulatory clarity, Cartel highlighted Ripple’s partnership with The Bank of New York Mellon (BNY Mellon) as another key development. BNY Mellon recently launched tokenized deposit services for institutional clients, and Ripple Prime, a digital asset prime brokerage platform created after Ripple acquired Hidden Road, is among the first users. Even more important, the analyst said that BNY Mellon remains the primary reserve custodian for RLUSD, showing a direct integration between traditional banking and digital settlement rails. 

Finally, Cartel mentioned the upcoming vote on the CLARITY Act by the US Senate Banking Committee scheduled for January 15. This bill will decide how crypto trading, settlements, and connections to financial systems are regulated in the future. The analyst said that if the bill is passed, it could affect how institutions interact with XRP and the broader crypto market. 

Why The XRP Price Is Still In A  Downtrend

Despite all these developments and milestones, Cartel noted that XRP’s price has barely moved over the week, still trading around $2.0. The analyst stated that the reason the cryptocurrency keeps moving lower is that it reacts less to hype and more to the completion of key infrastructure. 

According to Cartel, these developments are building significant pressure in the market. He described XRP’s situation as a compression before a violent release, suggesting that the cryptocurrency could experience a sharp price rally once the foundational systems are fully in place.

Former New York City Mayor Eric Adams unveiled a new cryptocurrency called “NYC Token” on January 12, 2026, drawing quick attention and equally fast criticism.

According to reports, Adams presented the project in Times Square and framed it as a way to support education and to fight anti-semitism and anti-American sentiment. The token is built on the Solana blockchain, based on information released at the launch.

Token Launch And Purpose

According to the official pitch and subsequent statements, proceeds from the token were to help fund scholarships and blockchain training programs for underserved communities.

Adams described the coin as a civic symbol tied to New York’s identity and global reach. The launch was promoted with promises of community benefits, but critics said the public information about governance and fund handling was thin.

Market Moves

The market reacted in a rush. Based on reports, the token briefly showed an implied market cap of about $580 million–$730 million in the first hours after trading began. Then prices tumbled.

Proud to launch @buynyctoken, a new token built to fight the rapid spread of antisemitism and anti-Americanism across this country and now in New York City.

Now live at https://t.co/zowY9Ri3aK pic.twitter.com/qBMzV88Tmj

— Eric Adams (@ericadamsfornyc) January 12, 2026

Trades showed a fall of roughly 80% as the token’s price dropped from near $0.46 to about $0.10 shortly after markets opened for the asset. Trading volume spiked and then collapsed, leaving many traders facing big losses.

Liquidity And Allegations

On-chain observers and crypto analysts flagged sudden withdrawals of liquidity minutes after the token’s debut. Reports have disclosed that millions of dollars were pulled from trading pools, which prompted accusations of a rug pull from some corners of the crypto community.

The token’s official website was also criticized for missing or nonfunctional links to key documents, and there was little detail about which groups would receive funds or how decisions would be made.

Adams’ Crypto Record: Political Context

Eric Adams is no stranger to digital assets. During his time in office he converted parts of his salary to Bitcoin and Ethereum and pushed policies to attract blockchain firms to the city.

His successor, Mayor Zohran Mamdani, declined to take part in the token project and did not endorse it. That split in approach raised questions about whether a former official should use his public profile to promote a privately issued coin.

Public Response

Analysts called for transparency and urged a closer look at on-chain data. Based on reports from blockchain trackers, some transfers and liquidity extractions were visible publicly on the Solana network, which added to the scrutiny.

Community groups and investors asked for clearer disclosures, while legal experts warned that investigations or regulatory attention could follow if money was moved in ways that harmed ordinary buyers.

Featured image by ThomasShanahan / iStock.com, chart from TradingView

Solana’s price has delivered a slight rebound as the broader crypto market gradually shifts towards a bullish outlook. Although the price of SOL may be demonstrating strength once again, its future trajectory is largely tied to the performance of the leading network in the days ahead.

Network Performance Becomes The Key Catalyst For Solana’s Price

Following a slight bounce on Monday, Solana is back above the $140 price mark. However, on-chain data suggests that the altcoin is nearing a turning point where its next significant price change may depend more on how well its network functions going forward than on market sentiment.

This thesis was outlined by Santiment, a leading market intelligence and on-chain data platform, after examining the correlation between SOL’s current price movement and its network activity. With price spikes coinciding with reduced network activity, the focus is now on the blockchain’s ability to maintain that momentum.

Santiment highlighted that as ongoing market volatility cools off, the price of SOL experienced a leg up as high as $144, drawing dangerously close to breaking past its $145 resistance level. While the price remains below the key resistance level, the altcoin awaits its next major catalyst in order to clear this level.

According to the on-chain platform, this will mostly depend on whether SOL network growth can start to increase once more, drawing attention to its fading new wallet creation. Data shows that the number of new wallet addresses created in a weekly timeframe has dropped significantly over the last few weeks.

In contrast to the prior optimistic moments, when new addresses were generated at record rates, accompanied by soaring trading and meme-coin activity, the slowdown represents a significant change.

As of November 2024, the number of weekly wallet addresses created was approximately 30.2 million. Fast forward to today, and the figure has fallen sharply, sitting at about 7.3 million. This massive drop in wallet creation signals a growing cooling phase in user onboarding across the SOL network. 

SOL Maintaining Large Daily Transactions

New wallet addresses may have reduced significantly, but Solana’s transaction scale remains robust. Despite fluctuations in the overall market momentum, SOL maintains a remarkably high level of daily transactions, demonstrating the power of its network.

In a recent report from Solana Daily on the X platform, it was revealed that the network has persistently carried out more than 60 million transactions every day for the past 750 days. This consistency demonstrates the chain’s widespread use in Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), payments, and high-throughput applications that depend on its affordability and speed.

An interesting aspect of this growth is that the network has maintained zero uptime within the timeframe, reinforcing its position as a reliable hub for on-chain activity. Currently, Solana is supported by real usage rather than just speculative spikes, which increases network efficiency.

Bitmine Immersion Technologies has been making a statement with its assertive accumulation and staking of Ethereum. In just a few months, the company has assembled one of the largest known ETH treasuries held by a publicly traded firm, moving steadily toward its stated ambitious goal of controlling 5% of the total Ethereum supply. 

According to a recent disclosure, Bitmine is now holding about 4.17 million Ethereum (ETH) tokens, which is about 3.45% of the total circulating supply. Furthermore, the company’s total staked ETH tally has now surpassed 1.2 million tokens. 

Heavy Stakes And A Clear Target

Bitmine is now the largest fresh money buyer of ETH in the world, and its string of ETH purchases has kept many Ethereum investors on the edge of their seats on how this might affect the price of the altcoin. 

Bitmine Immersion has funneled about $3.9 billion worth of Ethereum into staking under the leadership of Tom Lee, a move that shows conviction in ETH’s long-term prospects and the company’s desire to generate yield for its investors. Notably, the company’s total staked ETH tally has now surpassed 1.2 million tokens, bringing it close to 70 percent of the way toward its self-proclaimed “Alchemy of 5%” target of owning 5% of all Ethereum in circulation.

Bitmine’s approach to staking is starting to be much more than passive yield. The company is preparing to launch its own Made in America Validator Network (MAVAN), which it says will be among the largest ETH staking infrastructures in the ecosystem once live. 

This means Bitmine is now looking to transition from simply holding and staking Ether through third parties to becoming a staking infrastructure provider. If all of Bitmine’s staked ETH were managed through MAVAN and its partners at current rates, Ethereum staking fees could generate about $370 million for the company.

Growing The Balance Sheet To Sustain Ethereum Accumulation

Bitmine’s balance sheet extends well past its staking operations. The company now holds a diversified pool of assets spanning Bitcoin, Ethereum, other digital assets, and cash, with total holdings valued at around $14 billion, including its just over 4 million ETH. 

Interestingly, the company has continued to add to its holdings in recent weeks, even as it increases its liquid cash position. The most recent purchase was of 24,266 ETH last week.

At the same time, the company made a corporate decision that it says is critical to sustaining this strategy of steadily accumulating more Ethereum tokens. Notably, Bitmine is now seeking a positive 50.1% shareholder vote to increase its authorized share count at its upcoming annual stockholder meeting scheduled for January 15, 2026. 

According to the company, the current authorization of 500 million shares is close to being fully utilized, and once that limitation is reached, its ability to continue acquiring Ethereum at the current pace would slow down massively.