On 23 January 2026, Grayscale submitted an S-1 registration statement to the U.S. Securities and Exchange Commission seeking approval for a spot Binance Coin ETF that would trade on Nasdaq under the ticker GBNB. The proposed product plans to use Coinbase for brokerage and custody, may include in-kind creation and staking, and came after Grayscale registered a BNB trust in Delaware, while BNB’s price hovered around $898 with limited immediate market reaction.

On 23 January 2026, PwC argued that large financial institutions have embedded blockchain-based systems so deeply into payments, settlements, and treasury operations that they can no longer be easily removed. The firm highlighted the growing use of stablecoins and tokenized cash in core workflows, while executives such as Circle's Jeremy Allaire and research from ARK Invest also point to a shift from pilots to full-scale deployment of public blockchains. Taken together, these developments suggest that the debate is moving from whether to adopt crypto rails to how regulators and banks should manage infrastructure that is already intertwined with traditional finance.

On 22 January 2026, Bitwise released an outlook arguing that late 2025 market conditions resembled a crypto bottom rather than a continuing bear phase. The firm pointed to rising on-chain activity, growing revenues, and expanding stablecoin and DeFi usage, even as prices and sentiment remained subdued. Analysts remain divided on how 2026 will evolve, with some expecting prolonged macro pressure and others anticipating support from policy stabilization and clearer regulation.

On-chain metrics indicate Bitcoin long-term holders have shifted back to net accumulation after months of distribution, a pattern previously seen earlier in 2025. Price remains capped below the $100,000–$103,000 resistance, and Mike Novogratz says a decisive break is needed to confirm momentum. The data also suggests a potential higher low forming despite cautious sentiment.

Bitcoin is approaching a critical technical phase as Peter Brandt anticipates a potential decline toward the $58,000–$62,000 range based on his chart structure. Michaël van de Poppe also highlights short-term weakness after a rejected move into the mid-$90,000 area and notes that many altcoins have set new cycle lows. Both analysts say a higher low and recovery of key moving averages are needed before bullish momentum can rebuild.

On 20 January 2026, World Liberty Financial faced backlash after a governance vote tied to USD1 expansion. According to independent researchers, fewer than ten wallets held enough voting power to determine the outcome, while many holders with locked WLFI could not participate. The project has not commented and continues with a US trust charter bid and its World Liberty Markets launch.

Tether and Circle expanded the stablecoin float by $1.5 billion within about two hours on January 20, 2026. The mints were executed through several large transactions, indicating a purposeful increase in supply. Such bursts of issuance often align with rising liquidity needs across exchanges and professional counterparties.

On 20 January 2026, BitMine staked about $270.6 million worth of ETH in a single day, pushing its total Ethereum staking position to roughly $5.52 billion. Executed through several large transfers of tens of thousands of ETH, the move underscores BitMine's role as a major institutional participant in Ethereum's proof-of-stake ecosystem. With more ETH locked for yield, the growing staked supply is tightening liquid circulation and reshaping how large holders engage with the network.

On 19 January 2026 at 19:44, Bitcoin's sharp correction coincided with one of the steepest declines in the Stablecoin Supply Ratio in the current cycle, suggesting a potential undervaluation. A large pool of stablecoin liquidity now stands against a reduced Bitcoin market cap, a setup that has previously aligned with emerging market bottoms. For this signal to be confirmed, the ratio would need to rise again while stablecoin market caps stay steady or expand.