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Another week is ending with a major Bitcoin and Ethereum options expiry, arriving as spot crypto markets remain under heavy pressure.

About 21,700 Bitcoin options contracts worth roughly $1.8 billion are expiring today. The figure is slightly lower than last week’s, reflecting softer activity in the derivatives market. Since the start of the week, the total crypto market has lost close to $200 billion amid trade tensions, instability in Japanese bond markets, and delays in U.S. crypto regulation.

The expiring Bitcoin options show a put-to-call ratio of 0.75, meaning bullish positions still outweigh bearish ones. Maximum pain sits near $92,000, above current prices, which suggests many contracts could expire worthless. Open interest remains concentrated around the $100,000 level, with notable positioning also at $85,000 and $90,000 as bearish sentiment builds.

Bitcoin options open interest across exchanges has climbed to around $36 billion this year. Deribit noted that tight positioning around key strike prices could keep spot markets sensitive, especially as geopolitical and trade uncertainties continue to drive hedging activity.

Ethereum is also seeing significant expiries today, with roughly 118,000 contracts worth $346 million set to mature. These carry a maximum pain level of $3,250 and a put-to-call ratio of 0.86, while total Ethereum options open interest stands near $8 billion.

In spot markets, overall crypto capitalization is down about 1 percent on the day, wiping out gains made earlier in the year. Bitcoin briefly fell to $88,560 before recovering to around $89,500, but it has struggled to regain $90,000. Ether remains under pressure below $3,000, trading near $2,950, while most altcoins continue to slide as market uncertainty lingers.

Chainlink has returned to the spotlight across crypto social platforms, with new data showing a sharp rise in online discussions around the project despite ongoing weakness in the broader market.

According to recent insights, Chainlink recorded a five-week high in social volume as attention grows around its expanding role in tokenized finance. The surge in interest follows a recent upgrade to Chainlink’s Data Streams, which now provide near real-time U.S. stock and ETF pricing around the clock, five days a week.

The upgrade allows decentralized finance protocols to track pre-market, regular trading hours, after-hours, and overnight sessions. This addresses one of the major challenges in bringing traditional financial markets onto blockchain networks by improving price accuracy and market coverage.

The update has fueled renewed excitement around the LINK token, which continues to be a key topic in conversations about tokenized finance and on-chain infrastructure.

Data from Santiment shows that social engagement around Chainlink has increased even as the overall crypto market remains under pressure. This suggests that investors and traders are paying attention to Chainlink for its underlying technology and long-term infrastructure role rather than treating it like a typical altcoin that simply follows Bitcoin’s price movements.

At the same time, sentiment has grown more cautious. Over the past month, selling-focused mentions have gradually increased, with bearish commentary approaching levels not seen in more than a year. While engagement remains high, the shift in tone suggests growing skepticism among market participants.

On the development side, Chainlink continues to lead the DeFi sector by a wide margin. The project consistently ranks at the top for development activity, with weekly GitHub contributions trending higher since its launch.

Despite the cautious sentiment online, some industry leaders believe Chainlink is still undervalued. Bitwise Chief Investment Officer Matt Hougan recently described the project as one of the most important yet misunderstood assets in the crypto space, suggesting it may be deeply undervalued.

His comments came shortly after Bitwise quietly launched a new Chainlink exchange-traded product, which has seen relatively modest early trading volumes compared to Bitcoin-focused products.

Hougan argues that many investors still see Chainlink as simply a data oracle, but that view overlooks its broader role. He describes Chainlink as a rapidly growing software platform that connects blockchains with each other and with real-world data and systems.

He also highlighted Chainlink’s dominant position across key infrastructure services and its importance to major crypto sectors such as stablecoins, decentralized finance, tokenization, and prediction markets. According to Hougan, the project’s growing adoption by institutions like SWIFT, JPMorgan, Visa, Fidelity, and DTCC further supports its long-term value.

Solana users are set to gain on-chain access to U.S. equities, complete with brokerage-level pricing and deep Wall Street liquidity.

Jupiter has partnered with Ondo Finance to introduce more than 200 tokenized U.S. stocks and ETFs to the Solana blockchain. The assets will be offered through Ondo Global Markets, a platform that first launched on Ethereum and BNB Chain in late 2025.

Ondo, one of the largest issuers of tokenized securities, is expanding its services to Solana, allowing investors to buy, sell, and trade a wide range of U.S. stocks and ETFs directly on-chain.

“We’re excited to bring hundreds of on-chain securities backed by real Wall Street liquidity to Solana’s growing ecosystem,” said Ondo President Ian De Bode. “For the first time, Solana users can trade tokenized stocks at scale and at prices comparable to traditional brokerages.”

Jupiter, Solana’s leading decentralized exchange aggregator, will serve as the primary gateway for users, helping onboard traders and facilitate access to the newly launched tokenized assets.

Until now, Solana supported just over 300 tokenized assets. That number is expected to increase significantly as Ondo migrates its existing stock offerings to the network. The expansion will introduce technology and growth stocks, blue-chip equities, broad-market and sector-specific ETFs, as well as commodity-linked products.

According to Ondo, the move is aimed at improving access to traditional financial instruments through blockchain infrastructure while keeping prices aligned with those in conventional markets.

Ondo’s tokenized assets are backed by liquidity from major exchanges such as NASDAQ and the NYSE, rather than relying on limited on-chain liquidity pools. This approach helps ensure deeper liquidity and more reliable pricing.

Since launching on Ethereum and BNB Chain at the end of 2025, Ondo Global Markets has attracted strong demand for on-chain U.S. equities, reaching over $530 million in total value locked and more than $5.1 billion in cumulative trading volume.

The expansion comes as tokenized real-world assets continue to gain momentum across the crypto market. Bankless co-founder Ryan Sean Adams has previously predicted that U.S. demand could eventually bring up to $120 trillion worth of stocks, bonds, and exchange-traded products on-chain over the coming decades. Meanwhile, data from RWA.xyz shows the real-world asset market is currently valued at around $22.5 billion.

The AI-themed meme coin RALPH, inspired by the viral “Ralph Wiggum” prompting trend, suffered a sharp collapse after on-chain data revealed a major token sale tied to a developer-linked wallet.

According to blockchain analytics platform Bubblemaps, a wallet associated with developer Geoffrey Huntley sold roughly $300,000 worth of RALPH in three rapid transactions, all within about an hour. The move triggered a sudden price crash, wiping out close to 80 percent of the token’s value at the peak of the selloff and sparking a heated debate over trust, token ownership, and developer incentives.

The incident has reignited concerns around meme coins built on viral ideas, where shallow liquidity and unclear alignment between builders and holders can quickly turn routine profit-taking into a market-wide shock.

How the Selloff Unfolded

Bubblemaps flagged the activity on X, noting that the selling came from a small cluster of wallets controlling roughly 2 percent of RALPH’s total supply. Another linked address still holds around 3 percent. Shortly after the initial dump, a newly funded whale wallet sold an additional $115,000 worth of tokens, a move Bubblemaps said it continues to monitor.

Huntley later confirmed the sale, describing it as “de-risking.” He said he chose to sell ahead of the next vesting period to avoid exiting through private over-the-counter deals that would have required heavy discounts and could still have impacted the market. He added that he continues to hold some RALPH tokens.

Not everyone was convinced. Several traders criticized the timing of the sale, arguing it damaged trust and calling on Huntley to provide liquidity instead, which would have allowed for a more gradual exit while earning fees. Others pushed back, saying profit-taking is inevitable in fast-moving meme markets and should be expected.

The debate quickly spilled into public view. Some users accused the move of breaking alignment with the community, while others argued that developers should not be faulted for cashing out when a token exists to support a broader project.

Huntley also stated that he did not launch or control RALPH and did not approve its creation. That claim was met with skepticism from holders who viewed the token as closely tied to his work regardless of formal involvement.

RALPH Price Update

At the time of writing, RALPH was trading near $0.0054, down about 66 percent on the day and almost 90 percent below its all-time high of around $0.047 set on January 21. The token’s market capitalization has fallen to roughly $4.9 million from a peak near $47 million.

Trading activity surged during the selloff, with 24-hour volume reaching approximately $7.7 million, more than 150 percent of the token’s market cap, signaling heavy forced turnover. While RALPH remains well above its early January lows, the speed of the drop highlights how quickly liquidity can disappear in meme-driven markets.

The move appears largely isolated rather than driven by broader market conditions. It also echoes recent warnings from industry figures, including Binance co-founder Changpeng Zhao, who cautioned earlier this month that meme tokens born from jokes and viral trends often end with heavy losses for late buyers.

Ripple’s XRP has come under sustained pressure after reaching a record high of $3.65 in July 2025. Since then, the token has trended steadily lower. An attempt to regain momentum in early January pushed prices close to $2.40, but the move quickly lost steam.

Since January 5, XRP has fallen about 19 percent, a decline that has shaken retail confidence and pushed sentiment into extreme fear territory. Broader market uncertainty, fueled by rising geopolitical tensions, has only added to the pressure as investors adopt a more defensive stance.

While sentiment is deteriorating fast, past market behavior suggests this kind of pessimism has often appeared near turning points. Periods of intense bearish chatter around XRP have historically been followed by sharp rebounds and unexpected upside moves.

Key Levels to Watch for XRP

According to data from Santiment, XRP has now entered “Extreme Fear” territory based on social activity. The analytics firm noted that retail traders have grown increasingly pessimistic following the recent drop, but added that heavy bearish sentiment has frequently preceded rallies in the past, as prices tend to move against crowd expectations.

One analyst summed it up by saying that widespread fear and uncertainty among XRP traders has often acted as a trigger for upside moves.

Crypto analyst Ali Martinez also highlighted several important price levels. He identified $1.78 as a key support zone. If XRP can hold above that level and push higher, the next major resistance areas to watch are around $1.97 and $2.00.

Market Structure Points to a Possible Reversal

XRP is currently trading roughly 47 percent below its July 2025 peak, following a massive rally of around 600 percent since November 2024. According to CryptoQuant, the market has naturally entered a distribution and correction phase, which is viewed as a healthy reset after such a strong run.

What stands out this time is that bearish sentiment intensified after the price had already fallen more than 50 percent, rather than near the top. This shift suggests many traders may be reacting late to the move.

Data from Binance shows XRP funding rates have remained mostly negative since December, indicating that short positions now dominate leveraged trading. Historically, when the majority leans heavily in one direction, the market often moves the other way. Heavy short positioning can increase downside pressure in the short term but also builds potential fuel for a rebound.

If XRP starts to move higher, those short positions could be forced to close, adding to upward momentum. Similar setups played out twice since 2024, during the August to September 2024 period and again during the April 2025 correction. In both cases, negative funding rates were followed by bullish reversals as sentiment improved and funding turned positive.

Based on these patterns, analysts suggest the current conditions could be setting the stage for a potential upside reversal if buying interest begins to return.

MYX and RAIN are also among today’s top performers.

Bitcoin went through another highly volatile 24 hours as rapid shifts in the geopolitical relationship between the United States and the European Union unsettled markets. The leading cryptocurrency has since stabilized and is now trading near the $90,000 level.

Altcoins are mostly posting daily gains as well. Ethereum briefly touched $3,000, XRP is approaching $2.00 again, and Canton is once more leading the rally.

Bitcoin Recovers After Sharp Swings

Escalating geopolitical tensions have weighed heavily on Bitcoin over the past several days. Over the weekend, BTC was trading comfortably above $95,000 after surging to nearly $98,000 last Wednesday. That momentum faded when the US president announced new tariffs on several EU countries linked to the Greenland situation, an island governed by one of those nations.

European leaders responded with an emergency meeting and warned of possible countermeasures, including what was described as a “trade bazooka,” ahead of this week’s World Economic Forum in Davos. On Monday, President Trump reiterated the strategic importance of Greenland during a public address, though he stated that the US would not use force to gain control.

Shortly afterward, Denmark declined to join Trump’s proposed peace initiative. Despite that, the US president later confirmed that negotiations between the EU and the US over Greenland would move forward, leading to the cancellation of the planned tariffs.

Amid these rapid developments, Bitcoin fell from its recent $95,000 high to a 2026 low below $88,000 before rebounding to its current level near $90,000. Its market capitalization has recovered to approximately $1.8 trillion, while its dominance over altcoins stands at 57.4 percent.

What Is Driving Canton’s Price Higher

Canton is up around 10 percent at the time of writing, placing it among the strongest performers in the market today. According to data from LunarCrush, the protocol currently accounts for 45 percent of overall mindshare, as online discussions continue to generate strong engagement across social platforms.

Over the past 30 days, Canton has gained more than 70 percent and is up 13 percent over the last week alone. This performance stands out given the broader weakness seen across the crypto market during the same period.

RAIN is another notable gainer with a 13 percent rise, followed by MYX, which is up 10 percent. Monero and HYPE have each climbed about 5 percent, trading near $510 and $22, respectively. Ethereum has reached $3,000, BNB is approaching $900, and XRP is once again nearing the $2.00 mark.

The total cryptocurrency market capitalization has rebounded by roughly $100 billion from yesterday’s lows and now stands at $3.135 trillion, according to CoinGecko.

The U.S. Senate’s crypto market structure bill, known as the CLARITY Act, has been pushed back for several weeks as the Senate Banking Committee shifts attention to housing legislation tied to President Trump’s affordability agenda, according to Bloomberg. Sources say the bill may not be revisited until late February or March. The legislation had already been postponed last week after Coinbase withdrew support over rules affecting stablecoin yields.

The bill is intended to clarify regulatory oversight of digital assets between the SEC and the CFTC. However, Democrats and banking lobbyists are pushing to limit stablecoin yields, fearing a potential outflow of deposits. At a time when the national average savings account yield is just 0.61%, USD stablecoins can offer returns as high as 5%, highlighting the tension between banks and crypto holders.

Crypto markets showed modest reactions. Total market capitalization rose slightly to $3.1 trillion. Bitcoin bounced from an intraday low of $87,300 to touch $90,000 in early Asian trading before stabilizing near $89,800. Ether reclaimed $3,000, while XRP, Monero, and Canton saw smaller gains.

Following the delay, Republican Senator John Boozman introduced an updated bill building on the stalled bipartisan legislation. At the same time, Donald Trump announced progress on Greenland, saying he will not impose threatened tariffs after meeting NATO Secretary-General Mark Rutte to establish a framework for a future agreement.

Solana Mobile has officially launched SKR, the native token for its Seeker smartphone ecosystem. The distribution began Tuesday at 9:00 pm ET, allowing eligible users to claim their tokens and optionally stake them through the Seed Vault Wallet’s Activity Tracking tab. A small SOL balance is required to complete the process.

90-Day Claim Window

Seeker users have ninety days to claim their SKR tokens. Any unclaimed tokens will return to Solana Mobile’s airdrop pool after April 20. Developers who released qualifying apps to the Solana dApp Store during Seeker Season 1 can also claim allocations through the Publishing Portal.

Solana Mobile highlighted the vision behind SKR, stating that it represents a belief that users should have ownership of the network. More than 100,000 users are now able to claim their stake in the ecosystem.

Token Details

SKR is an SPL token on Solana and supports Seeker, Solana Mobile’s second-generation Web3 device platform, which succeeds the earlier Saga phone.

The token has a fixed supply of 10 billion. Thirty percent has been allocated to user and developer airdrops. Twenty-five percent is reserved for ecosystem growth and partnerships. Ten percent is set aside for liquidity and launch-related needs. Ten percent is designated for a community treasury. Solana Mobile receives fifteen percent, and Solana Labs holds ten percent. Eligibility is determined by verified activity on Seeker devices and apps.

SKR will support governance and staking within the ecosystem. Token holders can delegate SKR, earn rewards, and participate in decisions regarding the platform. The token follows a linear inflation model, starting at ten percent in the first year and decreasing by twenty-five percent each year until stabilizing at two percent. This aligns with Seeker Season 2, which will bring expanded apps, rewards, and activity tracking.

Grayscale has submitted an S-1 registration with the U.S. Securities and Exchange Commission (SEC) to transform its existing Grayscale Near Trust into a spot NEAR exchange-traded fund (ETF) on NYSE Arca. If approved, the ETF would hold NEAR tokens directly, aiming to minimize the premiums and discounts that have often affected the current trust.

This move reflects a growing effort by major asset managers to expand the crypto ETF market beyond Bitcoin and Ethereum, bringing altcoins like NEAR into mainstream investment products.

Key Details of the Proposed ETF

The filing, first highlighted on X by ETF Hearsay’s Henry Jim on January 20, proposes uplisting the trust under the ticker GSNR. The Grayscale Near Trust currently trades over the counter, having launched privately in May 2024 and opening to public trading in September 2025.

Under the proposal, the trust would be renamed Grayscale Near Trust ETF and operate as a passive fund holding NEAR tokens directly. Shares would be created and redeemed in blocks of 10,000 through authorized participants using a combination of in-kind and cash mechanisms, designed to keep the ETF’s market price close to its net asset value (NAV).

The current trust has a 2.50% expense ratio, though ETF fees have not yet been announced. As of January 21, the trust managed about $900,000 in assets, with shares trading around $2.85 versus a NAV of roughly $2.19. Grayscale acknowledges that the trust has frequently traded at significant premiums or discounts, which the ETF structure is expected to reduce.

The filing also mentions optional staking, which would only begin if regulatory and tax conditions are satisfied, leaving Grayscale with full discretion to implement it.

NEAR Market Context

The filing did not immediately move NEAR’s price, suggesting traders are cautious about timing and approval likelihood. NEAR was trading near $1.53 at the time, down about 69% over the past year and 17% over the last week. Its volatility is an important factor for the proposed ETF, as the product’s value would closely track the spot price of NEAR.

Grayscale’s filing is part of a wider trend of asset managers seeking approval for altcoin-focused ETFs. In December 2025, Bitwise filed for 11 single-asset crypto ETFs targeting tokens including Aave (AAVE), Uniswap (UNI), Sui (SUI), and NEAR. ETF analyst Eric Balchunas noted these filings show issuers racing for first-mover advantage. The strong trading performance of recent Ethereum and Solana ETFs in early January 2026 has likely encouraged this wave of new applications.

Markets turned highly volatile after comments from Donald Trump sparked sudden shifts across assets, including crypto.

In a surprise move, the US president announced he is canceling the tariffs that were set to take effect on February 1 against several European countries linked to negotiations over Greenland. Writing on Truth Social, Trump said the decision followed a productive meeting with NATO Secretary General Mark Rutte and progress toward a broader agreement involving Greenland and the Arctic region.

He added that the emerging framework could benefit both the United States and NATO allies, and that the planned tariffs would no longer move forward.

Markets rebounded after initially selling off on the uncertainty. Bitcoin surged back toward $90,000, quickly dropped to around $87,000, and then climbed again near $90,000 within hours.

The rapid price swings triggered a wave of liquidations across crypto markets. Total liquidated positions have reached roughly $1 billion, marking a 40 percent increase over the past 24 hours.