Over the past week, Pi Network (PI), Ripple's XRP, and Ethereum (ETH) have all registered notable price declines amid market pressures. Pi Network's Core Team rolled out new App Studio features and incentives, XRP is trading around $1.91 near identified resistance and support zones, and ETH has retreated from nearly $3,400 to about $2,900. Market commentators remain divided, with some warning of further downside and others projecting substantial upside for XRP.

Total crypto capitalization is struggling to hold the $3 trillion mark after several days of broad selling. Bitcoin remains capped by the $90,000-$95,000 range and shows fading momentum near support, while Ethereum has dropped below $3,000. Positioning has turned defensive as ETF and derivatives flows weaken and sentiment shifts toward fear.

On Friday, Jan. 23, 2026, crypto market cap hovered near $3.1 trillion as Bitcoin traded around $89,200 and Ethereum at $2,930. Dogecoin showed a weekly wedge pattern with a potential target up to $1.10 and a trigger near $0.124, while Solana's Seeker (SKR) jumped about 400% post‑airdrop to above $0.065. U.S. spot XRP ETFs held $1.37 billion as of Jan. 22, raising sell‑side risk if $1.91–$1.90 fails.

The U.S. Department of Justice has closed its insider trading-related case against former OpenSea executive Nathaniel Chastain after his 2023 wire fraud and money laundering conviction was overturned by an appeals court in 2025. Under a one-month deferred prosecution agreement, prosecutors will dismiss the charges after Chastain partially served his sentence and forfeited 15.98 ETH, valued at about $47,000. Bitcoin, which recently traded at $88,993.89, has surrendered nearly all of its 2026 gains and may revisit the $87,000–$87,500 support band before attempting another upward move.

Binance has formally applied for a MiCA license in Greece, with the review reportedly on an expedited track under the Hellenic Capital Market Commission. A spokesperson said the filing was made in Athens and that the exchange is in active discussions with the regulator.

Thailand’s Securities and Exchange Commission is drafting a regulatory framework for crypto exchange-traded funds and futures trading planned for 2026, enabling investors to allocate up to 5% of their portfolios to digital assets. The initiative includes recognizing crypto under the Derivatives Act, tightening rules on financial influencers, and launching a tokenization sandbox with the central bank to test bond tokens.

According to Pantera Capital, most cryptocurrencies apart from bitcoin have been in a deep bear market since December 2024, with the broader non‑BTC segment down 44% and a typical token losing about 79% of its value by the end of 2025. The firm notes that while bitcoin slipped only around 6% in 2025, many other tokens dropped close to 60% amid capitulation‑style selling and an October liquidation wave exceeding $20 billion. Pantera's 2026 outlook highlights structural issues in token value capture and suggests investment may shift toward bitcoin, stablecoin infrastructure, and equity‑linked crypto exposure rather than speculative token trading.

In January 2026, decentralized exchanges on multiple chains processed more than $278B in trading volume, marking their strongest January in at least five years. While volumes remain below the absolute 2022 peak, activity on networks such as Ethereum, Solana, BNB Chain and Base has surged, with Base alone reaching up to $3.39B in daily trades driven largely by Uniswap and Aerodrome.