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1. Hot topics: PUMP, DOGE, POLYMARKET; 2. Biggest rises and falls: $NEIRO, $DEEP, $VIRTUAL; 3. On-chain fund movement: $11.9M flows into Solana, $29.6M flows out of Ethereum; 4. Top news: Solana ecosystem DEX Jupiter TVL hits a record high
No one really knows how much yield and staking income Ethena has received from its $2.6 billion user fund, or whether it has flowed all of it to SUSDe holders.
The cryptocurrency market is preparing for large amounts of token unlocks in many altcoins in the new week.
Share link:In this post: Michael Bouhanna, Sotheby’s VP, launched his own meme coin, BAN, after losing money on other meme coins, using insider wallets to make over $1 million. Bouhanna openly shared his wallet address before deleting it, revealing his link to BAN’s creation and insider buys for profit. His setup included multiple wallets funded from a single source, allowing him to control and trade under the radar.
Share link:In this post: Bitcoin dominance hit 59.75% this week as BTC pushes higher, while Ethereum struggles against it, dropping to a new low on the ETH/BTC pair. Institutional interest in Bitcoin is strong, with $997.7 million flowing into BTC ETFs, its third straight week of inflows. Tether’s USDT faced volatility after reports of a U.S. government investigation, briefly dipping below its peg before recovering slightly.
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- 10:49The Federal Reserve is cutting interest rates, yet the yield on U.S. bonds continues to rise, which could be a worrying trendOn February 6th, T.Rowe Price capital market strategist Tim Murray stated in a report that despite the Federal Reserve's interest rate cuts, the yield on U.S. Treasury bonds has been rising over recent months, which is a worrying trend. Although the yield on 10-year U.S. Treasury bonds has partially fallen from its recent peak, the overall trend is still upward. Equally concerning is that the stock market also feels the pain of high interest rates. Since mid-December last year, there has been an increasing correlation between US bond and stock markets.
- 10:46Strategy plans to list STRK convertible preferred shares on NASDAQ this ThursdayAccording to CoinDesk, Strategy (formerly MicroStrategy) is expected to list its convertible preferred shares, Strike (STRK), on NASDAQ this Thursday. The company announced in its latest financial report a key performance target for 2025, including a $10 billion Bitcoin revenue target and a 15% Bitcoin return rate. So far, its BTC-related earnings have reached $1.24 billion, with a yield of 2.9% since the beginning of the year. In addition, due to not adopting FASB accounting standards, the company recorded a $1 billion asset impairment loss and plans to adopt new rules this quarter. To date, the company has used $17 billion out of the $21 billion ATM stock issuance plan, with stock sales accounting for 2.9% of total trading volume. Strategy's share price rose by 1.3% before market opening.
- 10:45JPMorgan Chase: Ethereum may continue to face "fierce competition" from other networksAnalysts at JPMorgan Chase suggest that Ethereum may continue to face "fierce competition" from rival blockchains. The analysts note that Ethereum's share of the total cryptocurrency market value has now fallen to its lowest level in four years, highlighting increasing pressure from competitors. Analysts pointed out two main reasons for Ethereum's poor performance: Increasing competition from blockchains such as Solana and Layer 2 networks, which offer lower fees and higher scalability; and compared with Bitcoin's positioning as a store of value, Ethereum lacks a strong narrative. Even after introducing blobs in the Dencun upgrade of Ethereum to reduce costs and improve scalability, activities are increasingly migrating from the main network of Ethereum to second-layer networks, thereby weakening the base chain. Increased competition also prompts top decentralized applications to migrate to their own dedicated chains for better performance and lower costs. As one of the largest gas consumers on Ethereum, Uniswap's exit could reduce Ethereum's fee income and increase risks associated with network inflation because fewer transactions mean less token consumption.