$TRX (-0,12 %) is rarely at the center of crypto headlines, but network activity tells a different story. The $BBLC now hosts over 85 billion US dollars in USDT and processed a USDT transfer volume of 7.9 trillion US dollars in 2025 alone. By most measures, this makes Tron the dominant settlement layer for the world's largest stablecoin.

The reason is simple: Tron offers near-zero transaction fees and high processing speeds, making the network the preferred infrastructure for large-scale stablecoin transfers. Each individual transaction costs only a fraction of a cent. But the network processes over 4.5 million USDT transfers every day - and each one requires Tron to be burned for network resources. At this volume, even the smallest fees add up to significant token demand. This mechanism has propelled Tron to the top of the #blockchain-revenue rankings: the network generates around USD 26 million per month, putting it ahead of $ETH (+0,66 %), $SOL (+0,73 %) and $BASE.

Tron processes 65% of all USDT transfers in the retail sector worldwide, with particular strength in Latin America, sub-Saharan Africa and Southeast Asia. There, the network serves as a central infrastructure for remittances and peer-to-peer payments.

$TRX (-0,12 %) is a component of both the CoinShares Physical Top 10 Crypto Market ETP and the CoinShares Physical Smart Contract Platform ETP.

$GB00BMY36D37 (+0,09 %)

$BTC (+0,64 %) recorded the weakest investor sentiment last week. A total of USD 133 million flowed out of corresponding investment products. At the same time, there were also outflows from short Bitcoin products, totaling USD 15.4 million over the past two weeks - a pattern that has historically often been observed near local lows.

Also $ETH (+0,66 %) was also affected by outflows, with withdrawals totaling USD 85.1 million. $HYPE (-0,61 %) The US dollar market also saw outflows, albeit at a much lower level of USD 1 million.

In contrast, sentiment towards $XRP (+0,28 %), $SOL (+0,73 %) and $LINK (+0,88 %) remained constructive. These assets recorded inflows of USD 33.4 million, USD 31 million and USD 1.1 million respectively in the past week.

$XRRL (+0,42 %)
$SLNC (+1,6 %)
$CTEN (+0,02 %)
$GB00BMY36D37 (+0,09 %)

Digital investment products recorded inflows of USD 2.17 billion last week - the highest weekly figure since October 10, 2025, just before the market collapse. Inflows were stronger at the start of the week, but sentiment turned negative on Friday: diplomatic tensions over Greenland and renewed threats of additional tariffs led to outflows of USD 378 million. In addition, speculation that Kevin Hassett - a leading candidate for the chairmanship of the US Federal Reserve and well-known monetary policy dove - is likely to remain in his current post weighed on the market.

#bitcoin led the inflows with 1.55 billion US dollars. Despite a push by the US Senate Banking Committee under the CLARITY Act, which could restrict stablecoins from paying interest, Ethereum and #solana saw inflows of USD 496 million and USD 45.5 million respectively.

A wide range of altcoins saw inflows, most notably #xrp (USD 69.5 million), Sui (USD 5.7 million), LIDO (USD 3.7 million) and Hedera (USD 2.6 million).

$BITC (-0,22 %)
$CETH (-0,19 %)
$SLNC (+1,6 %)
$XRRL (+0,42 %)
$GB00BMY36D37 (+0,09 %)

Regulatory developments in Washington took center stage this week as the US Senate Banking Committee continued its work on the Digital Asset Market CLARITY Act - a crucial piece of legislation for the further development of the stablecoin industry. Originally conceived as a market structure bill, the bill has expanded into a broader crypto regulatory framework that includes #stablecoins, #deficonsumer protection and illegal financial activities. In all draft versions, regulation consistently revolves around control and custody, with obligations linked to who actually exercises decision-making power - rather than whether an activity is designated as centralized or decentralized. This approach forms the basis for dealing with DeFi and stablecoins, where legislators seek to differentiate non-custodial software and payment infrastructure from intermediaries and yield-based financial products. A markup session of the Senate Banking Committee scheduled for January fifteenth has been postponed. With a view to the finalization phase of the Clarity Act, a possible dynamic in #ethereum,
#solana, #xrp and other altcoins.

Crypto assets have historically faced higher regulatory risks outside of #bitcoin historically faced higher regulatory risks, and the CLARITY Act would mitigate these risks by clearly defining which authorities regulate what and what obligations apply to tokens and trading venues. Such codified and permanent regulation can unlock institutional interest through greater legal resilience and more certainty in due diligence. The end result should be more product and service offerings, lower liquidity and an overall reduction in risk perception. We expect this to support the market development of altcoins. (Author: James Butterfill, CoinShares Head of Research)

$GB00BMY36D37 (+0,09 %)
$SLNC (+1,6 %)
$XRRL (+0,42 %)
$CETH (-0,19 %)

#bitcoin attracted inflows of USD 522 million, while short bitcoin investment products continued to record outflows totaling USD 1.8 million. This indicates a recovery in sentiment. Despite this, Bitcoin remains a relative laggard this year, with year-to-date inflows totaling USD 27.7 billion, compared to USD 41 billion in 2024.

#ethereum Bitcoin recorded inflows of USD 338 million last week, bringing year-to-date inflows to USD 13.3 billion. This represents an increase of 148% compared to 2024.

The inflows at #solana remain lower at USD 3.5 billion since the beginning of the year, but still represent a tenfold increase compared to 2024. Aave and Chainlink saw inflows of USD 5.9 million and USD 4.1 million respectively last week, while Hyperliquid saw outflows of USD 14.1 million.

$BITC (-0,22 %)
$CETH (-0,19 %)
$SLNC (+1,6 %)
$GB00BMY36D37 (+0,09 %)