On January 23, 2026, the global crypto market slipped 0.8% to $3.11 trillion in total capitalization, with daily trading volume at $105.5 billion. Bitcoin (BTC) traded at $89,572.51, down 0.44%, maintaining a dominance of 57%. Ethereum (ETH) fell 2.19% to $2,954.02, with a market cap share of 12%. ETH’s decline outpaced BTC’s, widening the gap between the two largest assets.
Fear & Greed Index Edges Up to 24, Still Extreme Fear
The Fear & Greed Index rose to 24 (Extreme Fear) from yesterday's 20, but remains well below last week��s neutral 49. Market volatility, weak momentum, and macroeconomic uncertainty continue to dampen risk appetite.
Top Gainers: Sentient Surges 48%, LayerZero Rises 15%
Standout gainers over the past 24 hours include Sentient (SENT) spiking 48.82% to $0.02861, HeyElsa (ELSA) up 31.56% to $0.1867, RollX (ROLL) gaining 18.97% to $0.1259, LayerZero (ZRO) climbing 15.35% to $2.22, Axie Infinity (AXS) rising 12.46% to $2.82, and XDC Network (XDC) adding 10.51% to $0.04422.
Top Losers: PUMP Leads Decline, Pepe Drops
Pump.fun (PUMP) fell 6.55% to $0.002498, Dash (DASH) lost 5.81% to $63.66, and Pepe (PEPE) slid 5.22% to $0.054949. Meme tokens and some legacy coins faced downward pressure.
Stablecoins and DeFi Steady
Stablecoin market cap held at $312.6 billion with no change in 24 hours; trading volume reached $79.5 billion. DeFi market cap inched up 0.1% to $107 billion, representing 3.4% of the global market.
Key Events: Dogecoin ETF Goes Live, Superstate Raises $82.5M
21Shares launched the Dogecoin ETF (ticker TDOG) on Nasdaq on January 22, offering direct 1:1 DOGE exposure with a 0.50% management fee and institutional custody. Superstate, managing $1.23 billion in assets, closed an $82.5 million Series B round to scale its Opening Bell platform and enable on-chain issuance of SEC-registered stocks on Ethereum and Solana. Solana's Seeker phone token airdrop (SKR) hit a $500 million cap; one wallet paid $269,000 for 20.1 million SKR tokens, now worth nearly $1 million per GMGN data. Spacecoin partnered with World Liberty Financial to complete a token swap, launch three LEO satellites, and integrate WLFI’s USD1 stablecoin for satellite internet payments. US jobless claims fell, Q3 GDP came in strong, and core PCE remained stable, reinforcing expectations of a Fed pause. JPMorgan commented that Ethereum’s Fusaka upgrade may briefly boost on-chain activity, but ongoing migration to L2s, rival chains, and app-specific networks will likely weaken fees, inflate ETH supply, and pressure prices.