XRP price is testing a critical demand zone near $1.45 as rising on-chain 
velocity and falling open interest hint at a decisive move ahead. XRP was 
trading near $1.44 at press time, down about 10% over the past 24 hours,…

Can XRP price hold the $1.45 demand zone as key metric peaks?

Ethereum remains under heavy pressure, struggling to hold above the $2,300 
level as selling dominates across the broader crypto market. After weeks of 
weakening structure, price action has failed to attract sustained demand, 
prompting many analysts to warn that further downside may still lie ahead. 
With risk appetite fading and leverage being unwound, attention is 
increasingly shifting from short-term rebounds to signals that could define 
the next phase of the cycle. Related Reading: Bitcoin Unrealized Losses Reach 
22% – Still No Capitulation Phase A recent report from CryptoQuant highlights 
a notable development on the network side. The Ethereum Transfer Count 
(Total), smoothed by a 14-day Simple Moving Average, surged sharply to 
approximately 1.17 million on January 29, 2026. This abrupt and near-vertical 
rise in activity stands out against recent trends and has historically 
coincided with periods of heightened market stress rather than organic growth. 
While elevated network activity is often associated with adoption, sharp 
spikes of this magnitude tend to emerge during moments of extreme 
positioning—either distribution into strength or forced movement during 
volatility. In past cycles, similar transfer count surges appeared near major 
inflection points, often preceding meaningful price corrections. As Ethereum 
trades near multi-month lows, this spike raises a critical question for 
investors: Does the surge in on-chain activity reflect defensive repositioning 
ahead of another leg down, or is it the final phase of a broader reset? The 
answer may determine whether ETH stabilizes—or extends its decline. Transfer 
Count Spikes Echo Prior Cycle Turning Points The report explains that a 
retrospective look at Ethereum’s transfer count reveals a recurring and 
cautionary pattern. Spikes of the magnitude seen recently have only appeared 
at a handful of critical turning points in the network’s history. On January 
18, 2018, a sharp surge in transfers marked the cycle peak, immediately 
followed by the start of a prolonged bear market. A similar event occurred on 
May 19, 2021, when a sudden jump in network activity coincided with a major 
market crash and a deep price correction. From an on-chain perspective, this 
context matters. While analysts often associate rising network activity with 
growing adoption, a parabolic surge in transfer counts near price peaks 
typically signals an overheated market. These spikes tend to occur during 
moments of extreme stress or euphoria, when large volumes of assets are moving 
simultaneously. In practice, this can reflect distribution, as long-term 
holders or institutional participants move funds toward exchanges to realize 
profits or peak volatility, where trading activity reaches a climax before 
momentum reverses. The current setup closely resembles those earlier episodes. 
Although the broader macro environment has changed since 2018 and 2021, the 
behavior of network participants appears strikingly similar. If historical 
patterns hold, Ethereum may be entering a high-risk zone where the probability 
of further downside increases. Consequently, traders and investors must 
exercise caution and monitor confirmation signals closely before assuming 
stability has returned. Related Reading: Bitcoin LTH Profit-Taking Collapses: 
Is Smart Money Done Selling? Bearish Weekly Structure Signals Ongoing Downside 
Risk Ethereum’s weekly chart shows a market that has decisively shifted from 
expansion to distribution. The price is now struggling to stabilize after 
losing the $2,300–$2,400 support zone. The latest breakdown pushed ETH back 
toward the $2,200 area, a level that previously acted as a pivot during 
earlier consolidation phases in 2024 and mid-2025. The inability to hold above 
this zone reinforces the idea that sellers remain in control on higher 
timeframes. From a trend perspective, ETH is trading below its short- and 
medium-term moving averages. Both of which have rolled over and are beginning 
to slope downward. This configuration typically reflects a loss of upside 
momentum and signals that traders sell into rallies rather than accumulate on 
dips. The long-term moving average near the mid-$2,400s has flattened. This 
suggests that the market is transitioning from trend to range, with downside 
risk still present. Related Reading: Ethereum Experiences Broad Long Squeeze 
Across Derivatives Exchanges: Can Bulls Hold $2,300? Elevated volume 
accompanied the recent sell-off, signaling conviction behind the move rather 
than a low-liquidity drift. Historically, similar volume spikes during 
downswings have preceded either deeper drawdowns or prolonged consolidation 
phases. ETH has also printed a sequence of lower highs since the peak above 
$4,800, confirming a broader bearish market structure. Unless price can 
reclaim and hold above the $2,400–$2,500 region, the path of least resistance 
remains sideways to lower. With the market likely probing for demand at lower 
support levels before any sustainable recovery can form. Featured image from 
ChatGPT, chart from TradingView.com

Ethereum Transfer Surge Mirrors 2018 And 2021 Peaks – What Happens Next?

Bitcoin ETFs may be sitting on their “biggest losses” since launching in 
January 2024, but there is a silver lining, according to an ETF analyst.

Bitcoin ETFs ‘hanging in there’ despite BTC plunge: Analyst

The price difference between Bitcoin on Coinbase and Binance has dropped to 
its lowest level since December 2024.

Coinbase premium hits yearly low, hinting at institutional selling

Russia&#8217;s Moscow Exchange (MOEX) is moving to broaden which digital assets it 
tracks and trades. Reports say the exchange plans to roll out new indices and 
futures tied to XRP, Solana, and Tron this year. That will give traders ways 
to follow price moves without owning the coins directly. Related Reading: 
Crypto Could Bounce Soon As Fundamentals Firm Up, Tom Lee Says New Crypto 
Indices Planned According to local coverage, Maria Silkina, who runs the 
derivative products group at the exchange, outlined the expansion on a recent 
radio broadcast. MOEX already lists benchmarks for Bitcoin and Ethereum. Now 
the exchange is preparing indices that mirror three more of the bigger, 
actively traded tokens, and it intends to offer futures contracts based on 
those indices. Trading interest in these coins has been high elsewhere. Here, 
such contracts will be cash-settled and follow the Bank of Russia’s rules. 
Settlements will happen monthly under the current regime. Perpetual Contracts 
And Options Under Review Reports note the exchange is also thinking about 
perpetual futures and options for Bitcoin and Ethereum down the line. 
Perpetuals do not expire. They use funding rates to stay close to the spot 
market and allow positions to be held for as long as a trader wishes. That 
differs from the monthly settled contracts MOEX already uses. Some of the new 
ideas remain under study and will be launched step by step. The approach looks 
designed to keep the products inside a tightly regulated frame while allowing 
more sophisticated trading strategies. Russia Pushes Toward Broader Access In 
2025 the exchange added a set of crypto-linked futures, and it listed indices 
connected to Bitcoin and Ether alongside other structured products tied to 
overseas ETFs. Reports say that trend continued with some big Russian 
financial firms offering crypto-tied investment options. Sberbank has already 
rolled out a product that links to Bitcoin’s price. Market access is slowly 
widening, but access is still likely to be limited to qualified investors at 
first. That said, more instruments usually bring more liquidity and more ways 
to manage risk. Related Reading: Trump Says He Was Unaware Of Abu Dhabi 
Royal’s $500 Million WLFI Investment What This Means For Traders For 
investors, the shift offers both opportunity and restraint. Cash settlement 
removes the need for custody of the underlying token, which can reduce some 
operational hassles. At the same time, the Bank of Russia’s standards mean the 
products will be boxed in by clearing and reporting requirements. If adopted, 
these additions could help price discovery for XRP, Solana, and Tron inside 
Russia and might attract institutional flows that have been sitting on the 
sidelines. Featured image from The Moscow Times, chart from TradingView

Cryptocurrency price in SEK