January saw Monero give back more share, Zcash and TON surge, and Bitcoin (including Lightning) climb past 18% combined.

Here is the breakdown.

Monero Still Leads, but Continues to Cool

Monero eased to 40.47%, down from December's 44.01%. It remains the clear leader, but the gap is narrowing as volume spreads across more coins.

Nano Holds Steady

Nano came in at 18.01%, nearly unchanged from 18.73% last month. Consistent as ever in second place.

Bitcoin Climbs, Lightning Grows Too

On-chain Bitcoin jumped to 15.39% from 11.67%, while Lightning rose to 2.82% from 1.96%. Combined, BTC + LN now sit at 18.21%, up from 13.63% last month — the biggest mover this month.

Zcash and TON Break Out

Zcash surged to 5.23% from just 1.40% in December — nearly quadrupling its share. TON similarly jumped to 1.89% from 0.42%. Both coins had quiet Decembers and came back strong.

USDC and Litecoin Ease Slightly

USDC slipped to 9.71% from 10.85%, and Litecoin pulled back to 4.03% from 5.66%. Both still hold strong positions in the top six.

Mid-Tier and Long Tail

DASH climbed to 1.41% from 0.80%, while Bitcoin Cash held flat at 0.82%. Dogecoin dropped sharply to 0.05% from 1.01%. In the tail, LTC-MWEB edged to 0.09%, Banano came in at 0.07%, and POL, VERSE, and ZANO each registered 0.01%. A few coins from December — SOL, ETH, and FUSD — saw no recorded volume this month.

The Full Data

Here is the complete breakdown for all coins in January:

• XMR: 40.47%
• XNO: 18.01%
• BTC: 15.39%
• USDC: 9.71%
• ZEC: 5.23%
• LTC: 4.03%
• BTC-LN: 2.82%
• TON: 1.89%
• DASH: 1.41%
• BCH: 0.82%
• LTC-MWEB: 0.09%
• BAN: 0.07%
• DOGE: 0.05%
• POL: 0.01%
• VERSE: 0.01%
• ZANO: 0.01%

Takeaways

• XMR still dominates but has shed share for two months running.
• BTC + LN is the month's biggest gainer, now challenging Nano for second place in volume terms.
• ZEC and TON both had breakout months, hinting at growing demand beyond the usual top four.
• USDC and LTC cooled slightly after strong Decembers but remain solidly mid-tier.
• DOGE faded significantly — from 1.01% to near zero.
• The top four coins (XMR, XNO, BTC, USDC) still account for about 84% of all volume, similar to December.

That wraps January. Bitcoin's rise (especially with Lightning gaining traction) and Zcash's breakout are the stories to watch heading into February.