By Omkar Godbole (All times ET unless otherwise noted)
Like Bitcoin clings to recent gains above $93,000, capital is shifting from memecoins to utility tokens, with so-called artificial intelligence (AI) assets leading the way.
CoinDesk’s Culture and Entertainment Select Index, Metaverse Select Index, 10 Capped ex-Bitcoin Index, and DeFi Select Index gained more than 4% each in the past 24 hours. The CoinDesk Meme Select Index was little changed, moving to negative, halting its recent rally.
It shows the transformation of capital into substance, or established sub-sectors with utility, such as DeFi and Metaverse, rather than speculative and far-fetched cryptocurrencies. This is a strong signal for the sustainability of crypto’s recent rebound.
Among individual tokens, AI-related coins have performed well over the past 24 hours. For example, Render Network’s RENDER soared 20%, becoming the best performing among the top 100 cryptocurrencies in terms of market capitalization. Render is a leading decentralized GPU compute platform for applications ranging from 3D rendering to machine learning and generative AI. Smaller AI tokens such as Virtuals Protocol’s VIRTUAL token are up over 6%
The native coin of the layer 1 Sui blockchain, rose more than 15% on expectations for privacy technology, rivaling the gains of Provenance Blockchain’s HASH token. Payments-focused XRP jumped 10% to its highest level in nearly two months, while Solana ground remains stuck in a multi-month range despite the recent rebound.
These moves are consistent with renewed optimism about high-beta AI and tech stocks on Wall Street.
Antonio Di Giacomo, senior market analyst at
“Markets remain on alert over rising geopolitical tensions following the U.S. offensive against Venezuela, a factor that has increased perceptions of systemic risk and dampened enthusiasm for riskier assets, including cryptocurrencies,” he noted, adding that a weak payroll figure could influence the Fed’s monetary policy and investors’ risk appetite.
Other analysts said continued gains in the crypto market depend on inflows into Bitcoin ETFs, which started 2026 on a positive note, accumulating more than $1 billion in the first two trading days. These flows must continue to maintain market supply.
In traditional markets, futures tied to the Nasdaq 100 and S&P 500 were little changed, suggesting a cautious open after Monday’s gain. The Nasdaq Index has consolidated in a narrowing price range (see Technical Analysis section). The direction in which the problem is ultimately resolved will likely determine the next step and influence the crypto market accordingly. Stay vigilant!
Read more: For analysis of current altcoin and derivatives activity, see Crypto Markets Today
What to watch
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Cryptocurrency
- Macro
- January 6, 7 a.m.: Mexican consumer confidence in December (previous 44.2).
- January 6, 8 a.m.: Brazil December S&P Global PMI. Services (previous 50.1); Composite (previous 49.6).
- January 6, 9:30 a.m.: Canada December S&P Global PMI. Services (previous 44.3); Composite (previous 44.9).
- January 6, 9:45 a.m.: United States December (final) S&P Global PMI. Services East. 52.9; Composite East. 53.
- Earnings (Estimates based on FactSet data)
Token Events
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Votes and calls on governance
- SSV Network DAO votes to expand its market making program, increasing the total allocation to 300,000 SSV ($1.3 million) to secure a 12-18 month agreement with a leading market maker for enhanced liquidity. Voting closes on January 6.
- Compound DAO votes to supplement reward contracts on Arbitrum and Unichain to maintain user incentives, following a correction to a previous proposal. Voting closes on January 6.
- TrueFi DAO votes to authorize a full protocol name change and create TRU’s remaining offering to recapitalize treasury. Voting closes on January 6.
- Aave votes on a proposal to integrate the April 2026 core tokens for Ethena USDe and sUSDe into the Plasma V3 instance. Voting closes on January 6.
- Unlocks
- Token Launches
- January 6: Brevis (BREV) will be listed on Binance, Bitget, OKX, MEXC, LBank, Gate and others.
- January 6: Rain (RAIN) will be listed on KuCoin.
Conferences
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
Market movements
- BTC is down 0.71% from 4 p.m. ET Monday at $93,425.15 (24 hours: +0.61%)
- ETH is down 0.5% at $3,221.91 (24 hours: +1.79%)
- CoinDesk 20 is down 0.3% at 3,047.78 (24 hours: +3.34%)
- Ether CESR Composite Staking Rate Up 2 Basis Points to 2.85%
- BTC funding rate is 0.0037% (4.0537% annualized) on Binance
- The DXY is unchanged at 99.35
- Gold futures are up 0.44% at $4,456.40
- Silver futures are up 1.83% at $77.56
- The Nikkei 225 closed up 1.32% at 52,518.08
- Hang Seng closed up 1.38% at 26,710.45
- The FTSE 100 is up 0.58% at 10,062.63
- The Euro Stoxx 50 is down 0.24% at 5,909.44
- DJIA closed Monday up 1.23% at 48,977.18
- The S&P 500 closed up 0.64% at 6,902.05
- The Nasdaq Composite closed up 0.69% at 23,395.82
- The S&P/TSX Composite Index closed up 1.06% at 32,220.00
- The S&P 40 Latin America closed up 2.07% at 3,222.70
- The 10-year U.S. Treasury yield is down 2 basis points to 4.16%
- E-mini S&P 500 futures unchanged at 6,939.75
- E-mini Nasdaq-100 futures unchanged at 25,585.50
- E-mini Dow Jones Industrial Average futures are down 0.2% at 49,129.00
Bitcoin Statistics
- BTC dominance: 58.98% (-0.16%)
- Ether-bitcoin ratio: 0.0345 (0.42%)
- Hashrate (seven-day moving average): 1,032 EH/s
- Hash price (spot): $39.90
- Total fees: 2.79 BTC / $259,967
- Open Interest on CME Futures: 111,130 BTC
- BTC valued in gold: 21 oz.
- BTC vs. gold market capitalization: 6.25%
Technical analysis
- The chart shows the daily price fluctuations of SOL and Nasdaq in candlestick form.
- Despite the 11% year-to-date gain, SOL remains trapped in a multi-week sideways channel. A potential breakout would confirm a change in trend from bearish to bullish.
- The Nasdaq is consolidating in a contracting triangle – a tightening price range signaling indecision. Whichever way it breaks will likely dictate the index’s next major move.
Crypto Stocks
- Coinbase (COIN): closed Monday at $254.92 (+7.77%), unchanged in pre-market
- Circle Internet (CRCL): closed at $84.80 (+1.59%), +0.51% at $85.23
- Galaxy Digital (GLXY): closed at $26.30 (+6.26%), -0.53% at $26.16
- Bullish (BLSH): closed at $41.48 (+5.65%), unchanged in pre-market
- MARA Holdings (MARA): closed at $10.59 (+6.86%), -0.76% at $10.51
- Riot Platforms (RIOT): close at $14.79 (+4.45%), -0.27% at $14.75
- Core Scientific (CORZ): closed at $16.73 (+4.63%)
- CleanSpark (CLSK): closed at $12.30 (+6.49%), -0.81% at $12.20
- CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $45.96 (+9.30%), -1.11% at $45.45
- Exodus Movement (EXOD): closed at $15.67 (+3.09%)
Crypto Cash Companies
- Strategy (MSTR): closed at $164.72 (+4.81%), -0.18% at $164.43
- Semler Scientific (SMLR): closed at $21.06 (+18.45%)
- SharpLink Gaming (SBET): closed at $10.27 (+5.99%), -0.39% at $10.23
- Upexi (UPXI): closed at $2.27 (+18.85%)
- Lite Strategy (LITS): closed at $1.53 (-0.65%)
ETF Feed
Spot BTC ETF
- Daily net flows: $697.2 million
- Cumulative net flows: $57.76 billion
- Total BTC holdings ~1.3 million
ETH Spot ETF
- Daily net flows: $168 million
- Cumulative net flows: $12.69 billion
- Total ETH holdings ~6.11 million
Source: Farside Investors
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