The crypto market saw modest gains on January 22, but sentiment indicators took a sharp turn for the worse. Total market capitalization reached $3.13 trillion, up 1.3% in 24 hours, with trading volume of $157.6 billion. Bitcoin (BTC) traded at $90,067, up 1.22%; Ethereum (ETH) at $3,034, up 2.02%. BTC dominance stands at 57.4%, ETH at 11.6%.
AXS Rises 20%, RollX Plunges 26%
Top gainers: Axie Infinity (AXS) soared 20.42% to $2.66, with volume of $785.7M; Canton (CC) gained 15.07% to $0.149; MYX Finance (MYX) rose 12.65% to $5.97. On the losing side, RollX (ROLL) dropped 26.35% to $0.1004; Story (IP) fell 8.53%; Midnight (NIGHT) slipped 4.56%.
Fear & Greed Index Hits 20 – Extreme Fear
The Bitcoin Fear & Greed Index plunged to 20 (Extreme Fear) from 24 (Fear) the previous day, and from 61 (Greed) a week ago. Data provider Alternative.me attributed the drop to sudden sell-offs and heightened volatility after a brief optimism failed to sustain. Stablecoin market cap edged down 0.2% to $312.44B; DeFi gained 3.6% to $107.9B, making up 3.4% of the global market.
US Crypto Legislation: Senate Delays, Agriculture Committee Advances
The US Senate Banking Committee faces weeks-long delay on a crypto bill as it shifts focus to housing priorities. Meanwhile, Senate Agriculture Committee Chair John Boozman released an updated digital asset bill granting CFTC authority over digital commodities, with a markup session scheduled for next Tuesday. The House Agriculture Committee has already advanced its digital asset bill, aiming for a January 27 vote.
F/m Investments Files to Tokenize ETF Shares
Asset manager F/m Investments applied to the SEC to record part of its $6.3 billion TBIL ETF shares on blockchain, testing regulated security tokenization without altering the fund structure.
Ark Invest Sees $28T Crypto Market Cap by 2030
Ark Invest estimates the crypto market cap could reach $28 trillion by 2030, with Bitcoin contributing $16 trillion, smart contract platforms adding $6 trillion, and only a few Layer-1 networks capturing most value.
Iran’s Central Bank Used $507M USDT for Trade
Blockchain analytics firm Elliptic reported that Iran’s central bank accumulated at least $507 million in USDT via the Modex platform last year, mostly routed to exchange Nobitex, to support the rial and settle international trade transactions.
(Data sources: CoinMarketCap, Alternative.me, Forex Factory)