The cryptocurrency market enters a correction phase, with airdrop information attracting investors' attention (Market trends as of January 26)

The cryptocurrency market as of January 26th is facing correction pressures, with major tokens all experiencing declines. Meanwhile, news related to airdrops continues to attract investor attention, and several projects have announced significant changes to their distribution plans. Overall, changes in liquidity and institutional investor activity are becoming new mechanisms driving price fluctuations.

24-Hour Price Movements of Main CEX Tokens: Correction Continues

Major cryptocurrencies are showing broad downward trends, with Bitcoin (BTC) down by -1.29% and Ethereum (ETH) down by -2.60%. Solana (SOL) is even more bearish at -3.47%, Cardano (ADA) has fallen by -2.49%, and Litecoin (LTC) is down by -1.33%.

In contrast, some tokens are maintaining slight gains. TRON (TRX) is up by +0.63%, while XRP (XRP) remains at -1.05%. Binance Coin (BNB) has decreased by -1.15%, and Dogecoin (DOGE) by -1.40%, indicating that major altcoins are also under downward pressure.

On-chain markets are experiencing more intense fluctuations. Resolv (RESOLV) is up by +10.01%, Polyhedra Network (ZKJ) is down by -2.95%, and SSV Network (SSV) has fallen by -9.13%, showing increasing dispersion among individual tokens. This market structure suggests investors are reallocating funds within the market in search of new growth opportunities.

Genius and Other Projects Significantly Change Airdrop Allocations

News about airdrops is coming in rapidly. The Genius project announced that Season 1 will end on April 12, and simultaneously decided to significantly expand its airdrop distribution. Specifically, they plan to increase the allocated amount by 50% and raise the value per point by 50%. As a result, the weekly distribution of 10 million GP points until April 12 will substantially increase the actual value users can obtain.

Meanwhile, ETHGas project reported that the GWEI airdrop snapshot has been completed. The snapshot was taken at 08:00 on January 19, 2026, and eligibility checks are scheduled to begin at 21:00 on January 20. This airdrop is based on users’ past Gas consumption on the Ethereum mainnet and their participation in the Gasless Future project.

PancakeSwap and Magic Eden Implement Major Structural Reforms

Project teams are also active. PancakeSwap has approved a proposal to reduce the maximum supply of CAKE tokens, adjusting the supply cap to 400 million. This adjustment is a key measure to balance liquidity and value preservation.

Magic Eden announced a major change to its revenue distribution structure, starting February 1, by injecting 15% of total revenue directly into the ME token ecosystem. Under this scheme, 50% of the revenue will be used to buy back ME tokens, and the remaining 50% will be distributed to staking participants in USDC. Such profit-sharing with their own tokens indicates efforts to strengthen capital circulation mechanisms within the crypto project.

Bitcoin Forced Liquidation Triggers Market Correction and Leverage Unwinding

From a technical analysis perspective, Bitcoin’s price is at a critical juncture. According to CryptoQuant analysts, from January 13 to 15, the Bitcoin Sentiment Index reached an extremely bullish level of about 80%. This index coincided with a local high near $97,000, but as of today, it has plummeted to 44.9%, falling below the neutral threshold of 50%.

During this correction phase, the amount of forced liquidations per hour exceeded $205 million, with liquidations primarily driven by long positions. This pattern reflects a typical “leverage unwinding during a crash” mechanism in overheated markets. Monitoring the trend of forced liquidation volumes over the next few hours could be crucial for assessing market bottoms.

Meanwhile, analysis from glassnode indicates that short-term holders are in a state of unrealized loss. For this group to recover, Bitcoin’s price needs to return to above approximately $98,000.

BRICS Countries Promote CBDC Interconnection Plans, New Developments in International Payments

On the macroeconomic front, BRICS countries are pushing forward with building a cross-border CBDC interconnection system. Led by the Reserve Bank of India (RBI), the proposal is expected to be discussed at the BRICS summit hosted by India in 2026.

If realized, this plan will be the first official attempt at linking central bank digital currencies (CBDCs) among member countries such as Brazil, Russia, India, South Africa, the United Arab Emirates, Iran, and Indonesia. The main goals are to simplify international trade and tourism, and to reduce dependence on the US dollar-centered system.

The New York Stock Exchange (NYSE) is also planning to launch a platform for trading tokenized securities. This platform, which will support 24/7 trading, fractional shares, stablecoin settlements, and instant settlement, could significantly transform traditional securities markets.

Industry Deep Trends: Liquidity and Human Factors Emerge as Risk Factors

Regarding market structural changes, Wintermute Exchange has made interesting observations. The traditional four-year Bitcoin cycle theory is becoming outdated, as current market performance is increasingly determined by liquidity flows and investor attention concentration. According to OTC liquidity data from 2025, the propagation of native crypto assets is weakening, and the average duration of altcoin bull runs has shortened to about 20 days.

On the security front, Immunefi CEO issued an important warning. While on-chain code security is improving, the greatest vulnerabilities in crypto security are shifting toward “human factors.” Mistakes in password management, loss of private keys, device infections, and human errors are expected to become major attack vectors in 2026.

From these trends, it is clear that investment strategies in the crypto market are shifting from simple technical analysis and news tracking toward a focus on liquidity analysis and human risk management. Airdrops and new project token distributions must also be evaluated within this broader environment, indicating increasing complexity in crypto investment decision-making.