New Ethereum Wallets Spike, Signalling Renewed Network Growth
Welcome to the Daily for January 17, 2026. ☕️
Hello Cointribe! 🚀
Your Saturday scoop is here! 👋 January 17, 2026—let’s dive into the last 24 hours’ must-read news.
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡 Weather:
☁️ Cloudy
24h crypto recap! ⏱
🥇 Jefferies Scales Back Bitcoin, Shifts to Gold Amid Quantum Computing Fears
Bitcoin’s allure among some Wall Street strategists is dimming as Jefferies’ Christopher Wood removed 10% of Bitcoin from his model portfolio, reallocating it equally to physical gold and gold-mining stocks. The move stems from rising concerns about future “quantum computing” threats that might eventually compromise Bitcoin’s cryptographic security, prompting institutional caution. While some developers view the risk as distant, the debate is pushing certain investors toward traditional safe-haven assets.
🚀 CZ Says Bitcoin’s Path to $200K Is Inevitable, Altcoin Season Will Follow
Binance co-founder Changpeng Zhao (CZ) offered an upbeat long-term outlook for Bitcoin, expressing confidence that it will eventually reach $200,000, with timing as the main uncertainty. He also suggested that a broader altcoin season will come at some point, though specific timing and beneficiaries remain unclear. CZ highlighted ongoing divergence in investor behaviour and strengthening institutional flows into Bitcoin products.
🏛️ U.S. Senate Halts Crypto Market Structure Bill After Coinbase Pushback
U.S. lawmakers have paused a key crypto market structure bill after Coinbase publicly objected to provisions in its current draft, prompting the Senate Banking Committee to delay planned markup. Coinbase’s concerns include potential restrictions on tokenized equities, limits on DeFi, and changes to stablecoin rewards and regulatory authority allocations. The delay reflects divisions among lawmakers and industry stakeholders as discussions continue.
💼 Polygon Cuts 30% of Workforce to Hone Strategic Focus on On-chain Payments
Polygon announced a substantial restructuring, laying off around 30% of its employees as it tightens its strategic focus on on-chain payments and blockchain-native financial infrastructure. The firm has invested $250 million in Coinme and Sequence to accelerate its vision, and the workforce reduction primarily affects overlapping roles from recent acquisitions.
⚠️ AI Boosts Crypto Scams to Record Losses
In 2025, crypto scams caused around $17 billion in losses. AI tools, deepfakes, and automated messaging made scams faster and more convincing. Average losses per victim rose from about $782 in 2024 to $2 764 in 2025. Romance and long-term trust schemes remained among the largest scams. Some operations sent hundreds of thousands of fake messages in a single day. Scams imitated organizations and toll systems, and many moved crypto to platforms outside exchanges.
👉 Read the article
🐧 Crypto of the Day: Pudgy Penguins (PENGU)
📈 PENGU Shows Signs of Recovery
Our crypto for today is Pudgy Penguins (PENGU), which is showing signs of stabilizing after a prolonged decline. The token recently moved above its long-term downward trend, indicating that selling pressure has lessened. PENGU is currently trading around $0.012, maintaining a steady range following the breakout.
Price Action Indicates Stabilization
The breakout above the descending trendline signals that PENGU may be shifting out of its downtrend. Market activity suggests buyers are stepping in to support the token, preventing further steep declines. This consolidation phase highlights the market’s cautious optimism.
Momentum Signals Are Positive
Technical analysis shows that the relative strength index (RSI) is holding above 50, suggesting momentum is tilting in favor of buyers. This level indicates a neutral-to-positive sentiment without the token being overextended. Analysts note that sustained RSI above this threshold could support further upward movement.
Potential Short-Term Outlook
If PENGU can maintain its position above the broken trendline, there is potential for it to approach $0.014–$0.016. However, a drop below approximately $0.011 could invalidate the breakout and reopen the previous downtrend. Observers highlight that holding key support levels will be crucial for any continued gains.
📊 Real-time Performance (CMC)
💵 Current Price: $0.01202
📉 24h Change: -1.42%
💰 Market Capitalization: $755.75M
🏅 CoinMarketCap Rank: #76
🪙 Circulating Supply: 62.86B PENGU
📊 Trading Volume (24h): $112.4M
🔷 New Ethereum Wallets Spike, Signalling Renewed Network Growth
Ethereum’s network just hit a major adoption milestone, as over 447,000 new holders joined in a single day—the highest increase seen in seven years. This surge in activity reflects renewed confidence in the blockchain and growing user engagement across the ecosystem.
📈 Historic Growth in Wallet Creation
In just 24 hours, Ethereum shattered its previous daily active address records, far surpassing the old peak of around 351,000. The current daily average of new wallet openings now sits well above 300,000, signaling that more users are entering the network than at any time in years.
📊 On-Chain Activity Points to Real Usage
Alongside the spike in new holders, on-chain transaction volume also climbed, indicating that this growth isn’t just speculative. Analysts see this as a sign of genuine usage and deeper integration of Ethereum in decentralized finance (DeFi) and broader on-chain activity—a reinforcement of its core role in the crypto space.
🔁 Price Breakout Boosts Confidence
Ethereum’s price recently broke out of a multi-week stagnation phase, climbing above key resistance levels. Technical momentum combined with increasing adoption suggests that the network could be entering a renewed growth phase, potentially reaching higher price targets if current trends persist.
📌 Ethereum’s Network Vitality on Display
The record adoption figures and rising activity suggest Ethereum’s position as a central pillar of decentralized infrastructure is strengthening, with investor sentiment and user participation both showing notable improvement.
Ethereum’s recent on-chain surge highlights a renewed wave of engagement that may support long-term ecosystem expansion.
