Today's Cryptocurrency News (January 6) | Pi Network deploys v23 upgrade; Bitcoin ETF attracts nearly $700 million

This article summarizes cryptocurrency news on January 6, 2026, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time crypto prices, and price forecasts. Major Web3 events today include:

1. Ethereum News: Validator Exit Rate Plummets 99%, ETH May Restart Bull Market in Q1

Entering 2026, global market risk appetite has significantly improved, with US stocks quickly recovering December 2024 losses. Improved macro sentiment has also driven the crypto market back to a critical crossroads. Amid debates over “holding or exiting early,” on-chain data for Ethereum (ETH) shows clear bullish signals.

Latest data indicates that the validator exit queue on Ethereum has fallen to about 15,000, a sharp decline from the peak of 2.6 million in mid-September 2025, a drop of over 99%. This suggests that during previous price corrections and market volatility, ETH stakers did not panic and exit en masse but chose to continue locking their positions, demonstrating strong confidence in ETH’s medium- to long-term prospects.

Notably, despite ETH retracing approximately 30% from its Q4 high of around $4,200 and performing slightly weaker than Bitcoin (BTC) at year-end, validator behavior has remained resilient. Meanwhile, the ETH staking annual percentage rate (APR) has decreased from over 3% to about 2.54%, with declining incentives not triggering mass exits, further highlighting the robustness of HODL sentiment.

Historically, a shrinking validator exit queue often precedes bull market starts. In Q1 2024, Ethereum exhibited similar patterns, followed by a price increase of over 60% that quarter. This context is prompting the market to reassess the possibility of ETH entering an upward cycle in Q1 2026.

On-chain fundamentals also support this outlook. Data shows Ethereum’s stablecoin trading volume in Q4 exceeded $8 trillion, a record high; daily transaction counts surpassed 2 million, with network activity continuously rising. This indicates Ethereum’s operations are driven by genuine usage and liquidity, not just sentiment.

Overall, the sharp decline in validator exits, increased staking commitments, and rising network activity are building a solid foundation for ETH’s price. As market liquidity gradually accumulates on the downside, expectations for ETH entering a new price discovery phase by the end of this quarter are heating up. Whether Ethereum’s bull market will repeat has become one of the most critical variables in the current market.

2. Aster Perpetual Futures Trading Volume Surges to $6.6 Billion, Dominating Crypto Derivatives Market

Aster has rapidly risen in the crypto derivatives space, with recent data showing its perpetual futures trading volume over the past 24 hours exceeded $6.6 billion, surpassing several major competitors and temporarily ranking first in the industry. This performance has made Aster a focal point in the perpetual contract sector.

In overall rankings, Hyperliquid ranks second with about $3.48 billion in perpetual futures volume, followed by Lighter with approximately $3.39 billion. Compared to these platforms, Aster’s trading scale is nearly double, indicating its strong liquidity attraction and reflecting high activity levels in the current crypto perpetual futures market.

Perpetual futures, as core crypto derivatives, allow traders to take long or short positions without expiration dates, often with high leverage. These products amplify price volatility, leading to rapid volume surges during strong market expectations. The significant increase in Aster’s perpetual futures volume suggests many traders are engaging in directional bets on this platform.

Aster’s short-term market leadership is likely due to multiple factors, including lower trading fees, faster matching and execution speeds, and deeper liquidity. Additionally, staged incentives such as trading rebates or fee discounts may have prompted traders to shift funds from other platforms, boosting perpetual contract volumes.

However, competition remains fierce. Hyperliquid and Lighter also achieved tens of billions in daily perpetual futures trading, with very narrow differences, indicating high liquidity competition and an unstable market dominance. In crypto derivatives, trading volumes tend to shift quickly with market sentiment.

From a macro perspective, the record-high volume on Aster signals rising risk appetite, with traders expecting greater market volatility ahead. Whether Aster can sustain this high trading volume depends on product experience, risk management, and market conditions, but the competition in crypto perpetual futures is entering a more intense phase.

3. XRP Spot ETF Gains $46 Million in a Single Day, Total Assets Rise to $1.65 Billion

On January 5, US spot XRP ETFs experienced strong capital inflows, indicating growing institutional interest in XRP. Latest ETF data shows that on that day, XRP spot ETFs saw net inflows of about $46.1 million, pushing total assets to $1.65 billion, a new high for the period. Notably, all listed XRP spot ETFs on that day had no net outflows, with total trading volume reaching approximately $72 million, reflecting increased market activity.

In terms of market share, the ETFs hold about 1.17% of XRP’s total market cap. Despite recent price increases, ETF fund performance shows no signs of profit-taking, suggesting that buying interest is more long-term rather than short-term trading.

Major contributors include Franklin Templeton and Bitwise. Franklin Templeton’s XRPZ ETF saw net inflows of about $12.59 million on that day, with total net inflows reaching $252 million. Bitwise’s spot XRP ETF added about $16.61 million in a single day, with total net inflows rising to $265 million, indicating strong institutional appeal.

Other issuers also posted solid inflows. 21Shares’ TOXR added over $7 million, and Grayscale’s XRP fund received nearly $10 million in net inflows. Overall, XRP ETF capital flows are diverse, with no single issuer dominating, indicating a healthy and dispersed investment structure.

This strong daily performance is part of a broader trend. From December 29, 2025, to January 2, 2026, weekly net inflows into XRP spot ETFs totaled $43.16 million, led by XRPZ with $21.76 million and Bitwise with $17.27 million. This suggests steady demand for XRP ETFs at the start of 2026, not just short-term sentiment.

Overall, ongoing ETF capital inflows reinforce an important signal: more investors prefer to hold XRP indirectly via compliant, regulated ETFs rather than directly owning the tokens. This reduces custody and compliance barriers and facilitates traditional capital entering the XRP market. As ETF sizes grow, XRP ETF flows will likely remain a key indicator of market sentiment and medium- to long-term trends.

4. Arthur Hayes Boldly Predicts: Global Money Printing to Resume, Bitcoin Could Hit $575,000 in 2026

Billionaire crypto investor Arthur Hayes recently issued a highly controversial Bitcoin price forecast. He states that amid ongoing global central bank balance sheet expansion and increasing monetary issuance pressures, Bitcoin could rise to $575,000 by the end of 2026. This prediction has quickly attracted market attention and reignited discussions on Bitcoin’s long-term value.

Hayes points out that the global economy faces multiple challenges: high debt, stubborn inflation, and sluggish growth. In this environment, central banks have limited policy tools. If the economy slows further, the most direct response is to continue monetary easing and inject liquidity into markets. Historically, each wave of large-scale money printing has weakened fiat currencies’ purchasing power.

In his view, Bitcoin is a natural hedge in this environment. Unlike fiat, Bitcoin’s supply is capped at 21 million, unaffected by any government or central bank. Its scarcity makes it attractive during currency devaluation cycles. When confidence in traditional currencies wanes, capital tends to flow into Bitcoin and other non-sovereign assets.

Hayes’ forecast is based on historical market cycles, noting that whenever global liquidity expands significantly, Bitcoin tends to be among the fastest-reacting and highest-gaining risk assets. The current market structure differs from early cycles, with institutional participation deepening through Bitcoin ETFs, corporate holdings, and professional custody services, reshaping supply and demand.

With demand growing and new supply limited, Hayes believes Bitcoin could see exponential gains in the next full bull cycle. He emphasizes that Bitcoin is no longer just a speculative asset but increasingly viewed as a tool for hedging inflation, policy errors, and macro uncertainties.

He also warns that Bitcoin remains highly volatile; $575,000 is not a certainty but a long-term extrapolation based on global monetary trends. As long as the “money printing” logic persists, Bitcoin’s long-term narrative remains compelling. This is why more investors are closely watching Bitcoin’s potential trajectory around 2026.

5. Reuters: Strategy’s Q4 Loss of $17.4 Billion, Stock Price Down Nearly 50% Yearly

According to Reuters, Strategy reported an unrealized loss of $17.4 billion in Q4 2025, with a total unrealized loss of $5.4 billion for the year, affected by crypto market volatility.

The company’s stock plummeted about 47.5% in 2025, reflecting negative investor reactions to crypto market swings. Strategy downgraded its profit forecast in December 2025, citing weak Bitcoin performance.

6. Infinex Token Sale Raises Only $600,000 in Three Days, Team Plans to Switch to “Fair Distribution Mechanism”

Non-custodial crypto trading platform Infinex announced recent adjustments to its public fundraising structure. After raising only about $600,000 in three days—far below the original target of $5 million—the project decided to abandon the quota model and adopt a “max-min fair distribution” mechanism. This change has sparked widespread discussion among crypto traders and the DeFi community.

Infinex aims to provide a user experience close to centralized exchanges (CEX), facilitating easier access to DeFi and cross-chain markets. Initially, the plan was to raise $5 million in three days, with individual wallet limits set at $2,500 to balance retail and large investors. However, slow progress prompted a strategic shift.

Infinex’s official statement acknowledged design flaws in the original token sale structure: “Retail users dislike lock-up periods, whales are unhappy with quota limits, and everyone finds complex rules frustrating.” The team admitted that trying to cater to different groups simultaneously weakened overall participation and apologized to the community.

The new plan completely removes per-wallet caps, replacing them with a “waterfall” fair distribution. Under this mechanism, all participants’ purchase limits grow proportionally until the total cap is reached, with excess funds refunded to reduce unfair advantages. The project also stated early supporters will have priority, with specific allocations to be announced after the sale concludes and demand is clarified.

Despite the structural change, tokens still have a one-year lock-up period. Infinex believes this lock-in will foster long-term user consensus and emphasizes that the previous failure to clearly communicate its product positioning—as a fully self-custodied DeFi platform combining cross-chain bridges, swaps, and trading—was a key issue.

This temporary adjustment has also raised skepticism. Critics note that Infinex raised about $67 million last year but is now frequently changing rules during the public sale, potentially undermining trust. Overall, the restructuring reflects cautious sentiment in crypto fundraising and highlights the ongoing tension in DeFi projects between “fair distribution,” “user experience,” and “funding efficiency.”

7. Pi Coin News: Pi Network Deploys v23 Protocol Upgrade, Paving the Way for Q1 2026 DEX Launch

Pi Network has officially deployed the v23 protocol upgrade, seen as a significant technical milestone toward practical application. The update’s core feature is the introduction of support for Rust smart contracts, laying the groundwork for decentralized applications and DEX deployment.

According to official and community info, Pi Network’s mainnet active users number approximately 15.8 million. The v23 upgrade does not unlock all new features at once but focuses on stability, security, and developer tools. This phased approach indicates a long-term, sustainable development strategy rather than short-term feature stacking.

Under v23, developers can now write smart contracts in Rust, known for high performance and memory safety, widely used on mainstream blockchains. For Pi Network, this means its technical capabilities are aligning with general-purpose smart contract chains, enabling the development of more complex on-chain applications, including payment tools, on-chain services, and early DeFi scenarios. The team emphasizes phased rollout to mitigate security risks and avoid vulnerabilities.

More importantly, v23 is explicitly seen as a preparatory step for the Pi DEX expected in Q1 2026. Community updates suggest the future Pi DEX will support token trading and liquidity pools, though current versions are mainly for backend and protocol testing. Future versions (like v25) will expand DEX features, with v23 serving as the foundational layer for decentralized trading.

Besides smart contracts and DEX plans, other ecosystem updates are underway, including AI-based KYC optimization, app studio upgrades, and token creation tools. Mining rates in January have been adjusted downward per formula, linked to network activity. The community is also watching key milestones like the one-year anniversary and Pi Day.

Overall, v23 is not a “blockbuster feature release” but an infrastructure and engineering upgrade. If successful, it could significantly influence Pi Network’s app ecosystem, smart contract adoption, and DEX development path in 2026.

8. 11 Days Turn $321 into $2.18 Million: Solana Meme Coin “114514” Breaks Wealth Myth

A recent on-chain data point has reignited speculation on Solana Meme coins. Blockchain analytics platform Lookonchain revealed that a trader turned an initial $321 into about $2.18 million in just 11 days, a return of approximately 6,800 times, making it a notable case in recent Solana Meme coin hype.

Data shows the wallet address 8BGiMZ accumulated about 45.58 million tokens of the Solana-based Meme coin “114514” through continuous small-batch buys. Transaction records indicate each purchase was only a few dollars, with stealthy accumulation before the token’s price surged, exemplifying early-stage stealth trading.

Later, on-chain and DEX data show that after a long sideways period, heavy buying pressure caused the price to spike sharply. Within hours, the token’s valuation approached $50 million. Dexscreener data shows a 24-hour increase of nearly 700%, with over $20 million in trading volume, and liquidity and wallet counts also surged, creating a classic Solana Meme coin explosion.

However, this case also highlights the high risk of Meme tokens. Such extreme gains depend heavily on timing, social hype, and initial liquidity scarcity. Once early holders start cashing out, subsequent high-buying entries may face sharp retracements. Currently, the address has not shown large-scale selling, and holdings remain stable, but future volatility is possible.

From a macro perspective, Meme coins are warming up overall. After a year of correction, the total Meme coin market cap has rebounded above $50 billion, led by PEPE, BONK, FLOKI, and others, with over 20% gains in early January. Data shows Meme coins’ share among altcoins has risen from lows, with increased wallet activity and trading volume, indicating rising risk appetite.

Meanwhile, leveraged Meme ETF demand is also increasing, extending Meme exposure to broader capital, which could deepen the impact on the overall altcoin market structure.

9. BlackRock-led ETF Rebounds, Bitcoin ETF Attracts Nearly $700 Million in a Day, Highest in Three Months

At the start of 2026, Bitcoin ETFs experienced the strongest capital inflow in three months. On January 5, US spot Bitcoin ETFs saw about $695 million net inflow, indicating institutional investors are re-allocating into crypto assets, marking a clear turning point.

According to SoSoValue data, BlackRock’s iShares Bitcoin Trust (IBIT) was the biggest winner, attracting $371.9 million; Fidelity’s FBTC followed with $191.2 million. Meanwhile, Bitwise’s BITB, Ark’s ARKB, and issuers like Invesco, Franklin Templeton, Valkyrie, VanEck also saw inflows, showing this is a market-wide recovery rather than a single product phenomenon.

Notably, Grayscale’s GBTC did not see outflows that day. Since its transition, GBTC has redeemed over $25 billion, and the “zero outflow” signals a significant market structure shift, implying reduced selling pressure from institutions.

Alongside capital inflows, Bitcoin’s price has remained above $90,000, with trading activity increasing. This pattern resembles early-year rebalancing rather than emotional chasing, indicating a long-term institutional allocation trend.

Institutional demand extends beyond Bitcoin. Data shows that during the same period, institutions bought about 31,737 ETH, worth over $100 million, with spot ETH ETFs seeing $168 million in daily inflows, highlighting simultaneous positioning in BTC and ETH.

This ETF capital influx aligns with BlackRock’s latest outlook, which states that cryptocurrencies are evolving from trading assets into financial infrastructure, including settlement, liquidity, and asset tokenization. Stablecoins are viewed as key bridges between traditional finance and on-chain liquidity, with potential to replace local currencies in some regions.

BlackRock emphasizes that the rapid expansion of crypto ETFs signifies institutional recognition, not experimental allocations. Driven by AI, energy, and capital concentration trends, traditional markets are weakening, and digital assets are becoming an essential part of institutional portfolios.

From January 5 data, the Bitcoin ETF market is maturing, with a fundamental shift in institutional attitudes toward crypto assets.

10. Telegram’s Full-time Staff Less Than 100, IPO Delayed Due to French Lawsuit

According to FT, Telegram currently has fewer than 100 full-time employees. Despite reaching 1 billion users, the company maintains a lean team. Telegram’s revenue in the first half of 2025 was $870 million, up over 65%, with nearly one-third ($300 million) from exclusive agreements related to Toncoin, $125 million from advertising, and $223 million from paid subscriptions, up 88%. Despite operating profit nearing $400 million, a net loss of $222 million was recorded due to Toncoin depreciation. Telegram aims for $2 billion in revenue in 2025. Its IPO plans are temporarily delayed due to a lawsuit in France.

11. Grayscale Breaks Precedent: US Investors First Receive Staking Rewards via Ethereum ETF

Grayscale recently announced a milestone: becoming the first crypto asset issuer to distribute Ethereum staking rewards to US ETF investors. This development is seen as a key breakthrough for US spot Ethereum ETFs and may reshape how institutional and compliant funds access ETH yields.

According to Grayscale’s January 5 announcement, its Ethereum Staking ETF (ETHE) has completed its first distribution directly linked to on-chain ETH staking rewards. This is the first time a US-listed spot crypto ETP has successfully passed staking rewards to investors, marking a substantive integration of Ethereum’s proof-of-stake (PoS) mechanism into traditional ETF structures.

Specifically, ETHE distributed about $0.083178 per share to eligible shareholders, derived from staking rewards accumulated from October 6 to December 31, 2025. The total distribution was approximately $9.4 million, completed on January 6, with the record date on January 5. Notably, Grayscale did not distribute ETH directly but sold the staking rewards and paid cash, keeping the underlying ETH holdings unchanged.

Grayscale had enabled staking for its ETH-related products as early as October 2025, making ETHE and its Ethereum staking mini-ETF (ticker: ETH) among the first US crypto ETPs to support staking. Both products were renamed earlier this year to highlight this feature.

From an industry perspective, this move introduces the previously missing “yield attribute” to US spot ETH ETFs, potentially changing institutional valuation approaches. Compared to price tracking alone, staking rewards add a “interest income” aspect, increasing market attention on “Ethereum staking yields” and “ETH ETF passive income” keywords.

However, Grayscale also warns that ETHE is not registered under the Investment Company Act of 1940, and its flexible structure carries risks, including lock-up periods, validator performance, network or smart contract risks, which could affect actual returns.

Nonetheless, analysts see this as an important step in integrating blockchain-native economic models into regulated financial products. As institutions like BlackRock and Fidelity develop ETH staking ETFs, Grayscale’s pioneering effort may become a key example for US ETH ETFs entering a “yield era.”

12. Bitcoin Approaching $95,000 Key Resistance, Potential Test of $100,000 Psychological Level

Recently, Bitcoin’s price has been steadily rising, currently around $93,800, approaching the critical resistance zone at $95,000. Over the past 7 days, Bitcoin has gained about 7.5%, with a 30-day increase of 4.5%, and 24-hour trading volume up over 30%, indicating increased market participation. Derivatives trading remains active, with open interest rising, suggesting capital is rotating rather than leveraging aggressively.

However, from a risk-adjusted return perspective, the market is not uniformly optimistic. CryptoQuant data shows Bitcoin’s Sharpe ratio has been declining, and the one-year return remains negative. This indicates that despite price gains, the risk-adjusted efficiency is decreasing. In previous bull markets, price and Sharpe ratio tended to rise together; the current divergence suggests the recent rally is driven more by short-term funds than sustainable demand.

Cycle indicators also show signs of cooling. The bull-bear cycle model has retreated from high levels but has not entered extreme pessimism, implying the market is more in consolidation than capitulation. On-chain data shows long-term holders remain stable, while short-term traders’ profitability is under pressure—typical of a high-level sideways phase.

Technically, Bitcoin has regained above the 10-day and 50-day moving averages but remains constrained within the $96,000–$106,000 range. RSI is at 65, momentum is decent, but stochastic and Williams indicators are near overbought, increasing short-term correction risks. Bollinger Bands show price near the upper band, consistent with sideways oscillation rather than trend breakout.

Overall, if Bitcoin can hold above $92,000–$93,000, it may attempt to retest $95,000 and even the $100,000 psychological level; otherwise, downside support is at $90,000 and $88,500. Investors should remain cautious of potential volatility driven by indicator divergences.

13. XRP and Dogecoin ETFs Up Over 20%, Institutional and Retail Funds Reflow in Early 2026

In the first week of 2026, US spot XRP ETF and Dogecoin ETF performed strongly, both rising over 20%, becoming some of the most watched assets in crypto markets. Continuous capital inflows, combined with rising risk appetite, have driven XRP and DOGE to outperform the broader market.

Data shows XRP ETF inflows have been positive for 33 consecutive days. On January 2 alone, net inflows reached $13.59 million, pushing total assets to $1.37 billion. Since their listing in mid-November 2025, XRP ETFs have seen little outflow, indicating sustained institutional confidence in XRP’s long-term value, even amid some other crypto ETFs experiencing outflows.

Dogecoin spot ETF showed a different pattern. After weeks of low activity, inflows rebounded sharply on January 2, with about $2.3 million added in a single day, raising total assets to $8.34 million. Although still smaller than XRP ETF, DOGE ETF’s trading activity has significantly improved, reflecting a marginal shift in market sentiment.

Price-wise, XRP has stabilized above the $2 support level and is trending toward $2.30, easing previous downward pressure. Dogecoin, driven by meme coin momentum, rebounded from lows of $0.13 to around $0.14, attracting short-term capital with high beta.

Of note, leverage products are amplifying these moves. Bloomberg ETF analyst Eric Balchunas noted that the 2x leveraged Dogecoin ETF has led the US crypto ETF market early in 2026, with rapid gains highlighting retail risk appetite revival.

Overall, XRP continues to attract institutional funds via spot ETFs, tightening liquidity; while DOGE reflects sentiment and momentum, with volatility driven by leverage and retail participation. Together, they depict a “steady institutional allocation + high-risk trading” structure in early 2026 crypto ETF markets.

14. Bitmine’s Heavy ETH Staking vs. Strategy’s Massive Unrealized Loss: How Do Their Crypto Treasury Strategies Differ?

Recent contrasting choices by two institutions in crypto asset allocation have sparked widespread discussion. One is Bitmine Immersion Technologies, which continues to accumulate and stake ETH heavily; the other is Strategy, known for Bitcoin, which disclosed unrealized losses of $170 billion, with the gap widening.

Bitmine disclosed that it holds 4.14 million ETH, worth about $13.2 billion, representing 3.43% of total ETH supply. About 780,000 ETH are staked and generating steady yields. The management aims to hold 5% of ETH supply long-term, viewing this as a core strategic asset. With US policy becoming more crypto-friendly and tokenization of stablecoins and real assets accelerating, Bitmine is optimistic about ETH ecosystem growth in 2026.

From operational perspective, Bitmine’s focus is not solely on ETH price appreciation but on building a “yield-generating crypto balance sheet” through staking. The company plans to develop its validator network, expecting annual staking income to reach hundreds of millions of dollars, providing cash flow to cover operations, debt, and potential dividends. This ETH staking yield model is seen as a more stable institutional approach.

In contrast, Strategy adheres to a “Bitcoin-centric” strategy but faces large unrealized losses due to price declines. In Q4 2025, Strategy reported over $170 billion in unrealized losses, with its stock price significantly down from highs, and its market premium shrinking. Despite holding large amounts of Bitcoin, the company relies on financing and reserves to meet obligations, as Bitcoin itself does not generate cash flow.

Overall, Bitmine exemplifies a yield-driven ETH staking and asset management approach, while Strategy continues with a price appreciation focus on Bitcoin. As institutions accelerate crypto allocations emphasizing sustainable cash flows and risk management, which model will be more competitive long-term remains a key market question.

15. US Senator Questions Legality of US Government Selling Bitcoin: Should It Be Included in National Strategic Reserves per Trump Directive?

US Senator Cynthia Lummis posted on X on January 6, questioning the legality of the US government continuing to sell Bitcoin assets. She stated that Donald Trump explicitly instructed that Bitcoin holdings should be retained and used to establish a US Strategic Bitcoin Reserve (SBR), rather than sold. In the context of other countries increasing their Bitcoin holdings, continued US sales could weaken its strategic position, which she finds concerning.

Earlier reports: According to Bitcoin Magazine, on November 3, 2025, the US Department of Justice directed law enforcement to sell 57.55 BTC from a guilty plea by the Samourai Wallet developer, worth about $6.367 million, potentially violating Executive Order 14233 signed by President Trump. This order mandates that Bitcoin obtained through criminal forfeiture should be included in the “National Strategic Bitcoin Reserve” and not sold. The current balance of that Bitcoin address is zero, indicating the assets may have been liquidated.