January 28 News, as of early 2026, market sentiment in the cryptocurrency space remains subdued, with some altcoins under particular pressure. VanEck’s launched US spot Avalanche (AVAX) ETF had a lackluster first day, recording no net fund inflow, with a total trading volume of only about $330,000 throughout the day, sparking discussions about the actual demand for altcoin ETFs.
In contrast, other similar products had a strikingly different debut. The Solana-related ETF launched by Bitwise at the end of October last year attracted approximately $69 million in inflows despite market volatility, with a trading volume approaching $58 million. In mid-November, Canary Capital’s first XRP spot ETF raised about $245 million on its debut day, and Grayscale’s LINK ETF also garnered around $41 million in interest. Compared to these, the “zero inflow” of the AVAX ETF appears particularly glaring.
Whether this result indicates a slow launch pace or reflects the market’s true attitude toward mid-tier altcoin ETFs remains uncertain. Bloomberg analyst James Seyffart pointed out that top-ranked cryptocurrencies by market cap are likely to launch ETF products in the future, but he personally favors index-based solutions over single-asset ones.
From the sentiment indicators, AVAX was in a clearly pessimistic zone during its listing. Its Fear & Greed Index once dropped to 20, then only slightly rebounded to 29, remaining in a state of “panic.” The ETF launch did not significantly alter market expectations, and speculative funds continue to remain cautious.
Derivatives data also confirms weak demand. Since a sharp correction in early October last year, AVAX’s open interest has rapidly shrunk from nearly $1 billion to below $200 million, indicating limited new participation in both spot and futures markets. In terms of price, AVAX has recently only rebounded slightly by about 2%, still oscillating within the $11 to $15 range.
Currently, bulls are trying to hold the key level around $11, but market reactions to ETF-related news are tepid, putting the sustainability of the rebound to the test. If the lower boundary of the range is broken, price volatility risks could further increase, and short-term trends will depend on whether there is a substantial improvement in market liquidity.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Pi Network Price Drop Alert: Token Unlock and Profit-Taking Trigger Selling Concerns
Pi Network's price fell approximately 37% this week, failing to break through the key resistance level of $0.20. Supply-side pressure has increased, including large-scale token unlocks and rising exchange reserves, while weak demand is reflected in declining trading volume. In the short term, technical indicators lean bearish, with $0.17 as the key support level for bulls; a break below could lead to further downside toward $0.15. Overall market sentiment is influenced by geopolitical factors, and any rebound will require volume support.
MarketWhisper47m ago
Bitcoin Options Worth $18.6 Billion Set to Expire, 92% of Bullish Contracts at Risk of Expiring Worthless
Bitcoin monthly options will expire on March 27, with open interest reaching $18.6 billion, of which call options account for $11.2 billion. As high as 92% of call contracts are expected to expire worthless, with bears holding structural advantages. Macroeconomic factors such as inflation, geopolitical conflicts, and credit tightening are pressuring the market, with liquidity sensitivity around options expiration potentially impacting the spot market.
MarketWhisper1h ago
Willy Woo: Poor Performance of Crypto Market Traceable to FTX Liquidation Mechanism, Continued Popularity of Cash-and-Carry Arbitrage Strategy Keeps Releasing Selling Pressure
Crypto analyst Willy Woo指出，当前市场情绪低迷主要由于FTX破产后锁仓代币折价交易及期货对冲机制的影响。这导致普通投资者难以获得超额收益，建议关注比特币等核心资产。
BlockBeatNews1h ago
Stagflation 2.0 Signal Exposed: Gold and Oil Divergence, Bitcoin Converges Toward Digital Gold
Recently, Brent crude oil prices have declined while gold continues to rise, displaying stagflationary market characteristics. Bitcoin's price movement has gradually decoupled from oil and shifted toward tracking gold, reflecting institutional investors' view of it as a hedge asset. The Federal Reserve's high interest rate policy has intensified market concerns about inflation and economic growth slowdown. This phenomenon is historically closely associated with major macroeconomic shifts.
MarketWhisper1h ago
XRP Today News: Ripple stablecoin enters Singapore sandbox, maintaining $1.42 as a key support level
Ripple is testing its RLUSD stablecoin in the Monetary Authority of Singapore's regulatory sandbox, aiming to leverage blockchain technology to automate trade finance payment processes to reduce costs and enhance efficiency. This pilot will enable auto-triggered payments without manual approval, increasing transaction transparency. XRP is currently trading in the range of $1.41 to $1.42, with analysts bullish on its long-term value potential.
MarketWhisper1h ago
Bitcoin rebounds to 72,000 USD maintaining volatility, Middle East tensions cool with "liquidations at only 152 million", but sentiment remains extremely panicked
Bitcoin recently rebounded from $68,000 to $71,674, primarily driven by improved sentiment from cooling US-Iran negotiations and oil prices breaking below $100, which boosted market recovery. Although approximately $52 million in liquidations occurred in the past 24 hours with long positions accounting for 72%, market assessment indicates healthy bottom formation. However, the Fear and Greed Index remains in the extreme fear zone, reflecting depressed investor sentiment and serious fund-watching conditions. The market needs to monitor progress in US-Iran negotiations and whether the market can break through resistance levels.
動區BlockTempo2h ago
