1. Market Observation
Keywords: Lido, ETH, BTC
The cryptocurrency market has recently shown encouraging signs, with Bitcoin being favored for potentially reaching new highs due to its increased correlation with gold. However, Bitcoin is currently fluctuating around $95,000 and has broken below a key trend line, coupled with a 70% reduction in off-market supply since 2021, which may indicate long-term supply shocks and price reallocation.
In terms of project developments, Lido has launched the third version of its Ethereum liquid staking protocol, Uniswap has introduced its Ethereum Layer 2 blockchain Unichain, and Solana's continued growth and increased institutional adoption position it as a strong competitor to Bitcoin. Although the Ethereum market has shown resilience in the face of altcoin declines, primarily driven by retail investors, its price has recently fallen below the $2,600 mark, raising market concerns.
From an institutional perspective, the stablecoin market is expected to reach $16.97 billion by 2025, Visa plans to collaborate with Fold to launch a Bitcoin rewards credit card, and Japanese company Gumi is also planning to purchase $6.5 million in Bitcoin, while Japanese stock Metaplanet has surged 3,575% within a year amid Bitcoin accumulation. However, it is worth noting that investor concerns over meme coins may affect the legitimacy of Bitcoin as an asset.
2. Key Data (as of February 12, 09:40 HKT)
S&P 500: 6,068.50 points (YTD +3.18%)
Nasdaq: 19,643.86 points (YTD +1.72%)
10-Year U.S. Treasury Yield: 4.537% (YTD -3.90 basis points)
U.S. Dollar Index: 108.04 (YTD -0.40%)
Bitcoin: $96,032 (YTD +2.80%), daily spot trading volume of $32.49 billion
Ethereum: $2,612.74 (YTD -21.88%), daily spot trading volume of $20.61 billion
3. ETF Flows (February 11 EST)
Bitcoin ETF: -$80.5 million
Ethereum ETF: $0 million
4. Important Dates (HKT)
Federal Reserve Chairman Powell attends Senate hearing (February 11, 23:00)
U.S. January Core CPI YoY (February 12, 21:30)
- Actual: To be announced / Previous: 3.1% / Expected: 3.2%
U.S. January CPI YoY (February 12, 21:30)
- Actual: To be announced / Previous: 2.9% / Expected: 2.9%
Federal Reserve Chairman Powell delivers semiannual monetary policy testimony in the House (February 12, 23:00)
2027 FOMC voting member, Atlanta Fed President Bostic speaks on economic outlook (February 13, 01:00)
U.S. Initial Jobless Claims for the week ending February 8 (thousands) (February 13, 21:30)
- Actual: To be announced / Previous: 219,000 / Expected: 216,000
U.S. January Core PPI YoY (February 13, 21:30)
- Actual: To be announced / Previous: 3.5% / Expected: 3.3%
5. Hot News
Insider: Trump nominates a16z crypto policy head Brian Quintenz for CFTC Chairman
Powell states there will be no push for central bank digital currency during his term
BitGo considers IPO as early as the second half of 2025, valuation may exceed $1.75 billion
Ethereum Foundation to provide $200,000 grant to support Pectra upgrade ecosystem
Federal Reserve Chairman reiterates no rush to adjust interest rates
Uniswap Labs: Layer 2 network Unichain mainnet is live
Public company KULR Technology increases its Bitcoin holdings to 610.3 BTC
Hong Kong confirms Bitcoin and Ethereum can be used as proof of wealth for investment visas
FTX Phase 1 repayments will repay $6.5 billion to $7 billion
DIN launches airdrop query page and announces token economics
Binance Alpha lists Autonolas (OLAS)
Matrixport: Ethereum may rebound due to low RSI and upgrade plans
Binance HODLer airdrop launches Solayer (LAYER)
OpenAI board to reject Musk's $97 billion offer
OKX to launch IP spot trading on February 13
NYSE Arca applies for Cardano ETF for Grayscale
Supported by OSL - Hong Kong's largest over-the-counter trading platform, continuously providing regulated digital asset services to the market since 2018.
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