In Japan, the launch date for the crypto-ETF has been decided, most institutional investors consider Bitcoin undervalued, and the Entropy project is closing down despite the patronage of influential investors — these and other cryptocurrency news from the morning of January 26 in our review.
Behavior of cryptocurrencies — leaders of capitalization
Bitcoin (BTC), according to TradingView, started Monday with growth. As of 07:28 (MSK), the cryptocurrency is trading at $87,581 (1 token in rubles — ₽6,574,274). The minimum price of Bitcoin over 24 hours is $86,003, and the maximum is $88,955.
You can track the Bitcoin exchange rate in rubles by the link.
The second most capitalized cryptocurrency, Ethereum, also started the day with growth. At the time of writing this review, the coin is trading at $2,867 (1 token in rubles — ₽214,921).
In the top 10 most capitalized cryptocurrencies, the best result over the past day is with TRON (+0.55%). Over the week, all coins decreased in value. The largest losses over 24 hours (-2.66%) were with Solana, and over seven days with Ethereum (-10.66%).
In the top 100 most capitalized cryptocurrencies, the best result over the past day (+35.25%) and week (+183.77%) is with River. Over the last 24 hours, Kaia has lost the most in price (-11.60%). The largest losses over the week were recorded for Dash (-25.71%).
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The main cryptocurrency news for the morning of January 26.
Japan plans to approve the first cryptocurrency ETFs no earlier than 2028, reports Nikkei Asia.
The country's financial regulator intends to include cryptocurrencies in the list of underlying assets for exchange-traded funds while simultaneously strengthening investor protection measures. It is expected that major financial groups like Nomura Holdings and SBI Holdings will become the market pioneers, potentially launching products on the Tokyo Stock Exchange.
Japan's decision follows the success of crypto ETFs in the USA and amid activity in neighboring markets. For example, Hong Kong has already launched its own crypto ETFs in 2024, and South Korea is preparing the legislative framework to launch similar products. Meanwhile, all three jurisdictions are promoting the integration of regulated stablecoins into the traditional financial system.
Most institutional investors consider Bitcoin undervalued at current levels, according to a Coinbase report.
According to a survey, about 70% of institutional investors and 60% of independent investors consider the price in the range of $85,000–$95,000 to be undervalued, despite BTC having lost nearly 30% from its October peak and lagging behind gold and silver.
Large investors are focused on long-term operations. About 80% of institutional investors stated that in the event of a new market decline of 10%, they would either hold their positions or buy more assets. More than half of the respondents believe that the market is currently in a phase of accumulation or a bearish cycle, rather than at a peak.
Crypto startup Entropy, backed by Andreessen Horowitz, announced its closure and the return of funds to investors.
The founder and CEO of the Tax Pacific project stated that after four years, several strategy changes, and team reductions, the company has failed to find a scalable business model.
Initially, Entropy was launched in 2021 as a decentralized solution for self-custodial asset storage. Later, the project was attempted to be redirected to a crypto-automation platform with AI elements. However, according to Pacific, feedback showed that the chosen model did not meet expectations, and yet another development pivot made no sense.
Recall that earlier BeInCrypto reported that the US Department of Justice reassessed the role of cryptocurrencies in criminal schemes.
