Gate Research: XRD Jumps over 60% in 24 Hours | Citi Warns Ethereum Activity likely Driven by Scams

• Market Commentary: On January 23, BTC rebounded after a sharp sell-off that previously pushed it down to around $87,000, and is now consolidating within the $89,300–$89,900 range; ETH staged a technical rebound after falling to around $2,866, but retreated after encountering resistance near $3,000 and is now moving sideways in the $2,930–$2,980 range.
• Trending Tokens: Driven by sector rotation and improving market sentiment, small- and mid-cap tokens showed strong performance. XRD led the market with a 60.19% surge over 24 hours after breaking out on strong volume, while BXN and FUN rose by 39.82% and 25.43% respectively on capital inflows, highlighting a market environment dominated by thematic and high-beta plays.
• Alpha Insights: BTC held by a law enforcement agency was suspected to have been stolen in a phishing attack, involving approximately $47 million, once again underscoring the security risks in institutional-grade custody; Citi warned that the recent surge in Ethereum on-chain activity is likely driven mainly by “address poisoning” scams rather than genuine user demand; meanwhile, World Liberty Financial’s collaboration with Spacecoin to advance the USD1 satellite DeFi project signals that DeFi is exploring new application scenarios integrating satellite communications infrastructure.

Discover more details today → Gate Research: XRD Jumps over 60% in 24 Hours | Citi Warns Ethereum Activity likely Driven by Scams

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Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.

Gate Team
January 23, 2026

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