Gate Research: January 2026 Crypto Market Review

Key Takeaways:

• Crypto Market Performance: In January, the daily trading volumes of BTC and ETH exhibited high-level consolidation, with multiple episodes of volume expansion throughout the month. Market sentiment evolved from recovery to caution, accompanied by heightened volatility and weak trend continuity.

• Major Blockchain Data: Stablecoin market capitalization across blockchains remained highly concentrated. Ethereum accounted for more than half of the total, while Tron ranked second, maintaining its position as a leading network for cross-chain payments and token transfers.
• Hot Sector Developments: Gold and silver prices hit all-time highs. The market cap of tokenized commodities exceeded $5 billion, rising more than 35% over 30 days, with monthly transfer volume surpassing $13 billion. Gold-backed tokens emerged as the primary growth driver. Prediction markets reached a record $12 billion in January trading volume, generating over $11 million in on-chain fees. Both trading activity and fees increased simultaneously, driven by points-based incentives and short-cycle, high-frequency contract trading.

• Financing and Security: The Web3 sector completed 53 funding rounds in January, raising a total of $1.82 billion. Capital flows were concentrated in blockchain services and CeFi-related projects. From a security perspective, incidents displayed a “few large losses, many small losses” pattern. Smart contract vulnerabilities remained the dominant risk vector, accounting for 34.5% of cases. Step Finance suffered an approximately $40 million treasury loss due to a supply chain attack, marking the largest security incident of the month.

Disclaimer
Investing in the cryptocurrency market involves high risk. Users are advised to conduct independent research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such investment decisions.