Activity on major altcoin networks, namely Solana and Ethereum, saw notable milestones in January. Daily active addresses on Solana consistently topped 5 million in the second half of the month. Ethereum overtook major layer-2s such as Base and Arbitrum in daily active addresses after significant upgrades. In January, Ethereum’s daily addresses rose by about 25% as developers pushed to “future proof” the network.
Seven Bitcoin (BTC) miners in the United States faced potential curtailment as winter storms stressed the power grid across the Southeast and South Central regions. Mining locations operated by Riot, Core Scientific, CleanSpark and Bitdeer are described as flexible loads able to respond to utility demand. The winter storm disrupted travel, left thousands without electricity, and by late January some 400,000 people were without power in Kentucky, Tennessee, Mississippi, Louisiana and Texas.
PayPal’s January report shows four in ten US merchants now accept crypto, with crypto payments offering faster transactions and greater privacy. PayPal’s May Zabaneh said crypto payments are moving beyond experimentation into everyday commerce. Some 84% of the same merchants believe crypto payments will become mainstream within five years.
Bitcoin’s price dipped more than 10% from a monthly high near $97,000 to around $87,000 amid Greenland-related geopolitical chatter. Trump claimed the US should control Greenland for security purposes and to counteract Chinese and Russian ambitions in the Arctic. Analysts said the geopolitical flare-ups weighed on Bitcoin, illustrating how crypto remains a risk-on asset in volatile macro markets. Trump’s foreign policy rhetoric, including tariffs and strained ties with allies, weighed on Bitcoin’s price, according to some analysts.
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