The cryptocurrency market showed signs of weakening on Thursday morning (January 23, 2025), though Solana appeared to record gains amid this negative trend.

According to CoinMarketCap data as of 06:18 AM WIB, Bitcoin experienced a daily decline of 1.7%, dropping to $104,033. However, it remained in the positive zone on a weekly basis with a 4.29% increase. Ethereum recorded a sharper decline of 2.58% in the past 24 hours and weakened by 5.37% over the week.

XRP fell slightly by 0.13% on a daily basis but posted a 0.52% gain over the last seven days. Meanwhile, Dogecoin plunged 3.18% in the past 24 hours and dropped 5.61% weekly.

The CoinDesk Market Index (CMI), which measures the performance of the digital asset market capitalization weighted by market cap, fell 1.73% to 3,866.11. Crypto market open interest also dropped 1.29% to $146.1 billion. The Fear & Greed Index from CoinMarketCap stood at 66, indicating that the market is in a "greed" phase amid the current economic conditions and crypto industry trends.

As reported by Cointelegraph, the Chicago Mercantile Exchange (CME) briefly displayed a webpage about new cryptocurrency-based derivative products before eventually removing it. CME hinted at plans to launch futures contracts for Solana (SOL) at a price of $256.42 and XRP at $3.17. These products are expected to begin trading on February 10, pending regulatory approval.

The CME website also mentioned that the futures contracts for these two assets would be available in two sizes: standard and micro. The standard contract for SOL will cover 500 SOL, while the micro contract will cover 25 SOL. For XRP, the standard contract will include 50,000 XRP, whereas the micro contract will include 2,500 XRP. All contracts will be settled in U.S. dollars.