ETF Takes BTC to Moon

BTC has surged passing $52K. With the halving around the corner, billions being acquired by ETF issuers, and 70% of the supply not moving for over a year, a supply shock is imminent for BTC. This momentum is expected to propel it to new highs. Strap in, Anon, rocket is about to take off!

State Of The Market

Industry

• The UK economy had officially fallen into recession, while the United States grapples with higher-than-expected inflation rates. 

• The unseasonally adjusted CPI annual rate for January was reported at 3.1%, exceeding expectations and leading analysts to reconsider the timing of potential interest rate cuts by the Federal Reserve. 

• Fed Chair Powell emphasized the importance of a Stablecoin Bill during discussions with House Democrats, indicating a regulatory focus on stablecoins.

• Meanwhile, Japan has taken steps to curb unlawful money transfers by urging banks to screen crypto transfers. 

• In response to illicit activities, the US Treasury has introduced new tools to counter such behavior, signaling increased regulatory scrutiny in the crypto space.

• On the investment front, Founders Fund, led by Peter Thiel, reportedly invested $200M in Bitcoin and Ethereum last year, highlighting growing institutional interest in crypto. 

• Ripple's plans to acquire digital asset platform Standard Custody and Ledger's integration with Coinbase Pay to provide direct access for users to buy and sell crypto further demonstrate the expanding ecosystem.

• Glenlivet Distillery has innovated by introducing Ethereum NFTs and AI into its whiskey collection, blending traditional luxury with blockchain technology.

• Looking ahead, the spot ETH ETFs have key decision dates in May, with applications from Van Eck, Ark 21Shares, and Hashdex, indicating growing interest in crypto investment products. 

• Manifold Finance's proposed settlement of $300K regarding the eth.link domain dispute with the ENS DAO reflects ongoing legal developments in the space.

• Lastly, Citigroup's successful proof-of-concept for tokenizing private equity funds, in partnership with Ava Labs and other financial institutions, highlights the potential for blockchain-based solutions to transform traditional finance. 

Projects

• Magic Eden is preparing to launch a new Ethereum Marketplace on February 27th, collaborating with Yuga Labs, aiming to enhance accessibility and trading options within the Ethereum ecosystem. Now would be a good time start looking into earning Diamonds! Follow this in-depth guide.

• Aptos has introduced passwordless passkey authentication for transactions, improving security and user experience. 

• Prisma Finance has introduced $ULTRA, a sound money asset backed by Liquid Restaking Tokens (LRTs), gaining popularity in the EigenLayer ecosystem. Be sure to stake on EigenLayer for their anticipated airdrop, follow this guide.

• On the gaming front, PlayDapp faced a significant breach, losing $290M worth of tokens, while Analog raised funds at a $120M valuation. 

• Copper integrated custody support for Hashnote’s USYDC stablecoin.

• Aave v3 has launched on Scroll. Speaking of Scroll, have you transferred funds to qualify for their airdrop? Their TVL is still small, indicating ample opportunity!

• Be sure to checkout Koii is offering an Incentivized Testnet on CoinList, aiming to accelerate the growth of their network. They are offering 200,000,000 tokens to qualifying users for their contributions.

The Stark airdrop encountered significant challenges, leading to its failure despite initial anticipation. 

• Over the course of many months, participants faced numerous issues that overshadowed the potential rewards. 

• The engagement campaign, designed to incentivize user activity, proved ineffective due to high transaction costs and lengthy processing times. 

• Additionally, liquidity provisioning, a critical component for core dapps, did not yield the expected results. Many participants found themselves disqualified for seemingly arbitrary reasons, adding to the frustration.

• Furthermore, anomalies in token distribution raised eyebrows, with some wallets receiving substantial amounts despite minimal activity. 

• This initiative provides an opportunity for community engagement while offering a chance to win tokens. To learn more and participate, check out the details here.

BEST airdrops to farm in Injective ecosystem ⛓️🌾

Here is a full airdrop farming guide for the best airdrops on $INJ 🧵👇

1. @hydro_fi is the biggest Liquid Staking Derivative on Injective, with over $100m in TVL!

Hydro Protocol is the Jito of Injective, Jito users made 6 figs from the protocol's airdrop a few months ago, they just staked SOL early on Jito and waited.

You can do the same on Hydro Protocol, and get prepared for their airdrop.

Their TVL had been growing insanely, they just reached $104m TVL.

The number of unique wallets using Hydro Protocol has reached over 13k, and one of their backers is Injective itself!

Here is how you can start with Hydro Protocol and become eligible for their airdrop:

•  Buy $INJ on exchange and withdraw it on the native (Injective) chain into your Keplr wallet.

•  Open app.hydroprotocol.finance/farm

•  Connect your wallet

•  Stake some $INJ

•  Get hINJ

•  Open the 'Farm' section

•  Stake your hINJ

•  Done, you're now earning points for the airdrop

2. @HelixApp_ is another platform on Injective that is tokenless for now and has experienced a significant growth in TVL and trade volume, it's one of the main DEXs on Injective. 

They've been adding many new pairs recently and they've been successful in attracting more users mainly due to this.

Helix has achieved close to $15m TVL, rocking at the 3rd place in TVL ranking among the projects on Injective!

Here is how you can farm it:

• Go the link below and swap INJ into USDT: https://helixapp.com/swap

• You can set limit orders and trade using the link below as well: https://helixapp.com/spot/inj-usdt

•  Repeat this process a few times a week and try to achieve more than 10k volume to secure a good tier in the airdrop.

•  Done.

Blue Chip and Majors Overview

Bitcoin 

Bitcoin’s price recently broke through the $50K mark as the larger crypto market holds its breath for future price movements of the world’s largest crypto. Sentiment seems positive, with Bitcoin currently trading around $52K, hitting yet another yearly peak, with its market capitalization hitting the $1T mark again, prompting many to talk about its performance in 2021. Notably, finance expert and investor Peter Schiff has stated that Bitcoin can potentially hit $100K. The crypto has registered an impressive increase of 17% over the past week, with historical accumulation trends showing that breaking past $54K could send BTC rallying to the $60K mark.

Ethereum  

Ethereum is barrelling towards the $3K mark, with the token currently trading around $2800. The crypto has seen an impressive increase of over 15% over the past week. The surge in price comes as staking deposits on the Beacon Chain hit $85B, with 25% of ETH’s circulating supply locked up in smart contracts on the Beacon Chain. Can Ethereum reclaim the coveted $3K level once again after three days?

• Solana (SOL) - Solana has continued its remarkable run of 2024, with momentum soaring so far. Regardless of the recent network shutdown, confidence in SOL has surged through the roof, with SOL registering a yearly high of $118 on the 15th of February. The past two weeks have seen SOL register an increase of 22%, with market watchers suggesting that SOL is undergoing a parabolic recovery and could test the resistance at $130 in the next few days.

• Avalanche (AVAX) - Avalanche has made a fairly strong recovery after its recent blip in January when it dropped to $28. The fourth quarter of 2023 saw Avalanche post a significant price increase before its late January drop. The token has since registered a considerable increase and is currently trading at $43. With news of the Durango upgrade on the Fuji testnet, we could see AVAX reclaim the $50 price level.

• Bittensor (TAO) - Bittensor has been on a high since finding mention in Vitalik Buterin’s comments. However, Bittensor’s rally is also because of the impressive recovery in the altcoin markets, with Bitcoin’s recovery catalyzing gains among AI tokens and impressive developments in its ecosystem. TAO has registered a highly impressive increase of 41% over the past couple of weeks. Several other developments in the Bittensor ecosystem are also driving TAO’s rally, including significant projects such as AIT, Kizuna, Roko, and TPad.

• Stacks (STX) - Stacks has emerged as one of the biggest gainers among the top cryptos, registering an impressive 27% increase over the past 24 hours, briefly hitting a 26-month high of $2.8. Several factors have contributed to this surge, such as its ability to bring smart contract functionality to Bitcoin. Another bullish indicator can be found in the Stacks DeFi ecosystem, where TVL in DeFi protocols on Stacks has surged by over 50% over the past couple of weeks.

• Sei (SEI) - After facing numerous rejections, Sei finally shattered the $0.88 resistance, setting a new all-time high of $0.997. Sei has registered a staggering increase of 53% over the past week and is looking to break past $1. 

• Beam (BEAM) - Beam is another crypto with a solid showing since the beginning of February. BEAM has surged by a staggering 78% over the past couple of weeks, hitting another all-time high of $0.031 just 12 hours ago. Currently, BEAM is trading at $0.030.

• Dymension (DYM) - Dymension was launched in one of the most highly anticipated airdrops of the year, with users across multiple blockchains receiving DYM tokens. Since the airdrop, DYM has been on an upward trajectory and hit a new all-time high of $8.50 on the 14th of February. As interest in Dymension continues to increase, we could see significant price appreciation of the DYM token.

• Pandora (PANDORA) - Pandora has become a sensation since its launch on the 2nd of February. An unofficial ERC-404 standard, the token’s fully diluted valuation surged past $320M, while its total trading volume reached 73,024 ETH just a week after launching. The frenzy around PANDORA saw the token hit its all-time high of $32,493 on the 9th of February. However, PANDORA is down by over 10% since those heady highs and is currently trading at $19,752.

• Heroes of Mavia (MAVIA) - MAVIA, the native asset of the Web3 mobile game Heroes of Mavia, has registered considerable traction since it was airdropped to over 100k players. MAVIA hit its all-time high of $9.25 on the 11th of February but has retreated over the past 24 hours. Currently, MAVIA is trading at $7.34, indicating a 5.5% decrease over the past 24 hours.

• Immutable (IMX) - Immutable has been on a steady upward trajectory and reached its 2023 high of $2.6 in December. IMX has continued its upward trajectory since, breaking past $3 on the 12th of February, and is currently trading at $3.20, an increase of 40% over the past week. One reason behind the surge is the announcement of its immutable zkEVM mainnet.

• Mog Coin (MOG) - Mog Coin is an Ethereum-based meme token that has seen staggering gains over the past week. The meme token has registered an increase of 305% over a 14-day period, hitting its all-time high of $0.00000020 on the 14th of February.

• Render (RNDR) - Render has seen considerable developments that have contributed to the token maintaining an upward trajectory over the past month. RNDR has registered a 26% increase over 30 days and is currently trading at $4.86. Render has emerged as a standout project in the crypto ecosystem, with some predicting the RNDR token could reclaim the $5.50 price level. It was also recently announced by Coinbase that it was listing the RNDR token.

Smart Money Movements

We've seen a strong shift towards AI tokens in smart money activity. Liquidity has been flowing into them with a strong flow.

• Smart Money has interacted heavily with $AIUS recently, which is a decentralised network of machine learning. Miners can set GPUs for it as well. The AI-powered projects that utilize GPU mining and incentivize users this way have been performing well recently.

• $NMT has also been among the smart money accumulations, another AI project powered by cloud computing. Users can rent their GPUs for AI use cases like image generation, machine learning, etc.

• Smart Money still heavily interacts with $PANDORA, still the leading token in the ERC404 narrative.

• $AIT has caught the attention of smart money as well. It's an AI data infrastructure, which is deploying a subnet on TAO.

• Smart Money is also detected in $PIER, a new OTC marketplace on ETH mainnet, which supports deals in an omnichain space. The $WHALES hype and success enticed smart money to get exposure to $PIER because of being in the same category and being new.

Yield Farms

• The Pendle/WETH pool on Camelot has become popular among smart farmers recently.

• Smart farmers have heavily staked stETH on MorpheusAI for farming their fair launch, which is liquidity mining in fact.

• Restaking ETH on Kelp Dao is still popular among smart farmers.