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builders shrug off ETH drop as network activity holds steady

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(ETH TVL denominated in ETH/ DefiLlama)

Ether’s weekend slide at the turn of February revived a familiar question: is the Ethereum network falling behind newer competitors or struggling to justify its valuation?

As ETH plunged by as much as 17% alongside most of crypto, skeptics wondered whether this was a warning sign that the protocol’s dominance may be eroding.

Yet inside Ethereum’s ecosystem, the sell-off has not been met with the same alarm. Developers and long-term players largely framed the move as a market-driven correction rather than a verdict on Ethereum’s health.

By several measures, network activity remains near peak levels. “Ethereum TVL is actually near all-time highs when denominated in ETH,” said Sam Ruskin, an analyst at Messari, suggesting capital has not meaningfully fled the ecosystem even as the token’s dollar price slipped.

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(ETH TVL denominated in ETH/ DefiLlama)

(ETH TVL denominated in ETH/ DefiLlama)

Other indicators point in the same direction. The entry queue for ETH staking — the wait validators face to help secure the network — has stretched to roughly 70 days, a signal that demand to commit capital to Ethereum, especially among large institutions, remains strong despite short-term volatility.

That resilience is also showing up across decentralized finance, where activity has held up even as prices have soured. Traders and users are still engaging with onchain applications in search of yield, a sign that usage has not evaporated alongside sentiment.

“We’re still growing and getting more users and revenue, but token price is lagging,” said Mike Silagadze, the CEO of ether.fi, one of the largest restaking networks, to CoinDesk over Telegram. “We’re just focusing on the long run.”

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Some market observers argue that the price move itself is being overinterpreted. Marcin Kazmierczak, CEO of blockchain data firm RedStone, said ether’s decline looks more like market “noise” than a signal of weakening fundamentals, particularly as retail trading activity fades. What matters more, he said, is a level of institutional conviction around onchain finance that he hasn’t seen before.

“The absence of retail excitement is actually refreshing – the next cycle will be driven by real adoption, not memes, and it allows builders to focus on creating long-term value,” Kazmierczak added.

That disconnect between price action and progress on the ground is a familiar pattern in Ethereum’s history. Periods of market turbulence have often coincided with some of the network’s most consequential development milestones, as builders continue to ship regardless of short-term sentiment.

“As we have seen with the Merge, the market is pretty bad at pricing in the fundamental technical realities of chains,” said Marius Van Der Wijden, a core developer at the Ethereum Foundation, noting that major technical changes are often only fully reflected in prices well after they are completed.

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For some analysts, the divergence between price and onchain data reflects broader market dynamics rather than Ethereum-specific weakness. Ruskin said the network “looks as healthy as it ever did,” arguing that ETH’s recent decline is more closely tied to bitcoin’s movements or wider market sentiment than to any deterioration in Ethereum’s fundamentals.

Read more: DeFi’s quiet strength: Value locked on platforms holds as market selloff tests traders

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XRP ETFs Post Record Outflows as Ripple Extends Price Slide

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spot XRP ETFs

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XRP price faces heightened downside risks following massive outflows from US Spot XRP exchange-traded funds (ETFs) amid risk-off sentiment in the broader crypto market.

Rising US and Japan bond yields signal macroeconomic stress, dragging the total crypto market capitalization 32% below its October 2025 peak.

BTC, ETH, and XRP retested their lowest levels in more than two weeks after crypto and stock markets digested US President Donald Trump’s fresh round of tariff threats.

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The potential tariffs are an attempt by the administration to convince Denmark to reconsider its control of Greenland.

The S&P 500 index fell 1.9%, while gold prices surged to a new all-time high of around $4,885/ounce, and the crypto market capitalization dropped to $3 trillion, down from nearly $3.2 trillion, according to Coingecko data.

XRP dropped nearly 1% in the last 24 hours to trade at $1.90 as of 4:39 a.m. EST, with an intraday low of around $1.89.

Spot XRP ETFs Records $53.32 Million in Net Outflows

According to Coinglass data, spot XRP ETFs recorded $53.32 million in net outflows on Tuesday, January 20, marking their second-ever daily capital outflow and the largest since they began trading in November 2025.

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spot XRP ETFsspot XRP ETFs

The outflow was from Grayscale’s GXRP ETF, which recorded a total outflow of $55.39 million. Meanwhile, Franklin’s XRPZ recorded $2.07 million in inflows.

Following the latest outflow, total net inflows since launch now stand at $1.22 billion.

The recent bearish spell was not unique to XRP, as most other crypto ETFs also saw outflows. Specifically, the BTC ETFs recorded $479.70 million in outflows, while the ETH ETFs recorded $230 million.

Can XRP Stabilize or Is More Downside Ahead?

XRP price is currently trading around $1.90–$2.00, sitting directly on top of the 200-day Simple Moving Average (SMA) near $1.90, which has become a critical long-term support level. The price remains well below the 50-day SMA at $2.39, highlighting persistent medium-term bearish pressure.

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After peaking near the $3.60–$3.70 region, XRP entered a prolonged corrective phase, forming a falling channel pattern.

Despite this, XRP has so far managed to defend the $1.85–$1.90 zone, an area that also aligns with a major Fibonacci extension level from the prior advance.

The 50-day SMA remains downward-sloping, signaling that trend momentum has not yet shifted in favor of the bulls. As long as the price of XRP trades below this SMA.

Overhead, the $2.20–$2.40 region stands out as a heavy resistance band, combining the descending channel top and the 50-day SMA.

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XRP’s Relative Strength Index (RSI) is currently hovering around 41, below the neutral 50 level. This suggests weak momentum, though RSI is not yet deeply oversold.

XRP/USD Chart Analysis Source: TradingViewXRP/USD Chart Analysis Source: TradingView
XRP/USD Chart Analysis Source: TradingView

The higher-timeframe XRP/USD chart suggests the Ripple token may attempt a short-term stabilization above the $1.85–$1.90 support zone, given the confluence with the 200-day SMA. A sustained hold here could allow for another corrective move toward $2.10–$2.30, where prior breakdown levels and channel resistance converge.

A decisive daily or multi-day close above the $2.30–$2.40 region would be required to weaken the bearish structure.

On the downside, a clean break below the 200-day SMA and $1.85 support would significantly change the bearish structure. As a result, XRP could slide toward the $ 1.35–$ 1.50 demand zone.

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Crypto.com Launches Standalone US Prediction Markets Platform OG

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Crypto.com Launches Standalone US Prediction Markets Platform OG

Crypto.com has spun out its prediction markets business into a standalone platform called OG, marking a fresh push into one of the fastest-growing corners of digital finance and putting it in direct competition with Polymarket and Kalshi.

Key Takeaways:

  • Crypto.com has launched OG as a standalone, US-only prediction markets platform built on its CFTC-regulated derivatives infrastructure.
  • The spinout follows explosive growth, with Crypto.com reporting 40x weekly increases in prediction market activity over the past six months.
  • OG enters an increasingly competitive market as major crypto and Wall Street players expand into event-based contracts.

OG, which went live this week, is powered by Crypto.com Derivatives North America (CDNA), a CFTC-registered exchange and clearinghouse affiliated with Crypto.com.

The company said the platform is currently available only to users in the United States, underscoring its focus on operating within the country’s regulated market structure.

Crypto.com Spins Out OG After Surge in Prediction Market Activity

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The decision to launch OG as a separate platform follows rapid growth in Crypto.com’s prediction market offerings.

The firm first entered the space in 2024 and rolled out a “sports event trading” product for US users in December of that year. According to co-founder and CEO Kris Marszalek, activity has surged since then.

“We’ve experienced 40x weekly growth in our prediction market business over the last six months,” Marszalek said, adding that the pace justified a dedicated platform rather than keeping the product bundled within Crypto.com’s broader ecosystem.

OG will be led by Nick Lundgren, Crypto.com’s chief legal officer, who takes on the role of CEO.

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Lundgren described prediction markets as a “deca-billion dollar industry,” pointing to rising interest from both retail users and institutional players.

Still, the field is becoming increasingly crowded. Coinbase launched a US-focused prediction market product in partnership with Kalshi in late January, while Hyperliquid recently outlined plans to expand into event-based markets.

The timing of OG’s debut reflects broader momentum across the sector. Prediction markets have grown from less than $100 million in monthly volume in early 2024 to more than $13 billion by the end of 2025, according to industry data.

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Combined volumes on Polymarket and Kalshi alone reached $37 billion last year, as Wall Street and crypto firms alike explore new uses for event contracts beyond online betting.

State Opposition to Prediction Markets Builds Over Consumer Concerns

State opposition to prediction markets has been building for months.

In 2025, the SWC urged the CFTC to prohibit sports event contracts, arguing that such products bypass state safeguards such as age verification, responsible gaming rules and anti-money laundering requirements.

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As reported, a new legislation to limit the interactions between government officials and the prediction markets is being supported by more than 30 Democrats in the US House of Representatives, including former Speaker Nancy Pelosi.

The lure behind new restrictions is a controversial Polymarket bet, which started as a bet of $32,000 but eventually became more than $400,000 shortly before the unexpected detention of Venezuelan President Nicolás Maduro.

The bill proposed by the New York Representative Ritchie Torres is the Public Integrity in Financial Prediction Markets Act of 2026.

The post Crypto.com Launches Standalone US Prediction Markets Platform OG appeared first on Cryptonews.

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Crypto.com Launches OG Prediction Market Platform

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Crypto.com Launches OG Prediction Market Platform

Crypto.com has spun out its prediction markets business, first launched in 2024, into a standalone platform called OG, competing with the likes of Polymarket and Kalshi. 

OG is powered by Crypto.com Derivatives North America (CDNA), a Commodity Futures Trading Commission-registered exchange and clearinghouse and affiliate of Crypto.com

OG said on Tuesday that it is only available in the United States for now.

Entering a ‘deca-billion dollar’ industry

Kris Marszalek, co-founder and CEO of Crypto.com, highlighted the firm’s growth in the prediction market space as the reason for launching a dedicated platform. 

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Crypto.com first announced the launch of a “sports event trading” product for US users in December 2024.

“We’ve experienced 40x weekly growth in our prediction market business over the last six months. This type of growth warrants a concerted effort with a standalone platform.”

Related: Polymarket strikes prediction market deal with major US soccer league

Nick Lundgren, chief legal officer of Crypto.com and new CEO of OG, described prediction markets as a “deca-billion dollar industry.” 

However, OG is entering a crowded space. Coinbase launched its own prediction market platform in the US in partnership with Kalshi in late January, while Hyperliquid proposed plans to expand into prediction markets on Monday. 

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Boom time for prediction markets

OG is debuting amid accelerating growth in prediction markets, with Wall Street exploring event contracts for new use cases beyond blockchain betting.

Prediction markets have seen 130-fold growth, from less than $100 million per month in early 2024 to over $13 billion by the end of 2025, according to International Banker. 

The combined volume for market leaders Polymarket and Kalshi was $37 billion in predictions placed in 2025, and the two platforms raised $3.6 billion in equity investment in 2025.

Meanwhile, prediction market firm revenues are expected to balloon from around $2 billion annually to over $10 billion by 2030, according to the Citizens Financial Group.

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Polymarket and Kalshi volumes, categories, and top markets. Source: DeFi Rate

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