Arena Dispatch #002: Macro Rebound, Coinbase About Face, Russia Opens Retail Crypto, Solana Holds, Memecoins Return, and ETF Inflows

Market Overview

Total crypto market cap climbed about 3.6 percent to roughly $3.33 trillion. Daily volume rose to $174 billion, with 95 of the top 100 assets green and all top-10 coins higher.

Key catalyst was political pressure on the Fed after Pres. Trump renewed criticism of Powell, sparking expectations for a dovish policy stance. Analysts described the move as a “repricing of confidence” in future liquidity conditions.

Coinbase Pulls Back on Clarity Act

Coinbase CEO Brian Armstrong announced that the company cannot support the current Senate Banking Committee draft of the Digital Asset Market Clarity Act. Armstrong cited major concerns, including a de facto ban on tokenized equities, restrictions on DeFi and privacy, limits on stablecoin rewards, and reduced CFTC authority.

The development highlights growing tension between crypto firms and traditional finance over how digital assets, stablecoins, and decentralized platforms will be regulated in the U.S.

Russia Moves to Open Retail Crypto Access

Russia advanced a major legislative framework to normalize crypto participation in its domestic economy. Anatoly Aksakov, Chairman of the State Duma’s Financial Markets Committee, confirmed that the finalized bill is set for spring 2026 debate.

The bill removes cryptocurrencies from “special financial regulation,” treating them as standard investment instruments. It allows non-qualified investors to buy and hold approved cryptocurrencies under strict limits:

• Annual cap of 300,000 rubles (about $3,800 USD)

• Mandatory risk-awareness test

• No privacy coins permitted

Qualified investors get unrestricted access following risk evaluation. Implementation is expected by July 1, 2026, aligned with the Bank of Russia’s broader digital asset rollout.

The move could open new regional liquidity channels and strengthen cross-border flows under BRICS coordination.

Solana Maintains Momentum

Solana traded between 143 and 145 dollars, up about 1 to 3 percent, holding just below resistance near 145 to 147. RSI readings around 64 and price action above key moving averages indicate bullish structure, with breakout targets near 150 to 162 dollars projected for late January.

No new ecosystem catalysts surfaced, but strong ETF positioning and altcoin strength maintained sentiment. Within Trojan’s terminal, trading feeds reflected renewed interest, deepening liquidity, and sustained activity.

Meme Coins Return to the Spotlight

Solana’s meme coin segment accelerated as Pump.fun hit record DEX volumes. Sector capitalization neared $6.7 billion. PENGU, WIF, and POPCAT rebounded sharply.

Chatter of “memecoin bull run 2.0,” with retail capital rotating into high-volatility, high-liquidity assets as macro sentiment improved.

ETF Inflows Reinforce Institutional Bid

Spot Bitcoin ETFs recorded net inflows ~$690 million for January 13 based on tracker consensus, with Fidelity’s FBTC among the top contributors at roughly $110 to $190 million.

Ethereum ETFs added about $130 million, and Solana and XRP products saw smaller but steady gains of $5.9 million and $13 million, respectively.

Perspective

Crypto markets continue to respond directly to macro narratives and institutional liquidity trends. The steady flow of capital through ETFs and expanding global regulatory frameworks underscore growing maturity in the digital asset space. For traders operating in real time, Trojan’s terminal delivers unmatched precision, liquidity access, and actionable onchain analytics across Solana markets.

Trojan remains dedicated to building tools that empower traders to act decisively in fast-moving onchain environments.