@huoyuanyi
The January 2026 crypto market rebound shows early strength, driven by ETF inflows, institutional rotation, and renewed risk appetite after late-2025 consolidation.
On-chain activity supports moderate sustainability: DeFi TVL rose ~6.6% WoW to $58B+, stablecoin mints exceed $1B weekly in bursts, whale accumulation (e.g., SHIB) and healthy credit markets (low borrowing rates, no stress signals) indicate real usage growth beyond speculation.
However, structural demand remains subdued—network fees softened, momentum is fragile, and participation is uneven (smaller holders vs. institutions). Without sustained higher active addresses, transaction volumes, or RWA/tokenization acceleration, the rally risks volatility or stalling if macro shifts or profit-taking intensify.
Overall correlation is positive but not yet decisive for long-term durability.
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