News
Coinglass reports that BTC contract holdings on US dollar exchanges are now worth $22.84 billion, with some of the largest being; CME at $6.77 billion, Binance at $6 billion and Bybit at $4 billion. This level is nearing the peak of the last bull market, where open interest hit $23.055 billion on November 9th, 2021. Link
SoSoValue reports that on February 14th, Bitcoin spot ETFs saw a total net inflow of $339 million, marking the 14th day of continuous net inflows. Grayscale’s GBTC ETF had a single-day net outflow of $131 million and Invesco’s BTCO ETF experienced a $37.51 million net outflow. BlackRock’s IBIT ETF led with the highest net inflow of $224 million for the day, bringing its total historical net inflow to $4.84 billion. Link
Arkham reports that at 22:41 UTC+8 on February 15th, Grayscale moved 2,399.6 BTC (valued around US$126 million) to Coinbase Prime Deposit and transferred 1,756.2 BTC to a presumed new custody address of Grayscale. Link
JPMorgan upgraded Coinbase to a Neutral rating ahead of its earnings report, in response to surging shares and increasing crypto prices after the U.S. approved spot bitcoin ETFs. Link
The SEC has proposed a rule to revise the definition of qualifying venture capital funds. Link
Projects
ApeCoin - ApeCoin DAO will develop ApeChain using Arbitrum's technology (specifically as an Arbitrum Orbit chain built with AnyTrust technology) and APE will serve as both the gas and governance token. The ApeCoin community will also be able to adopt future features like Stylus, BoLD, among others. Link
Solana - The second snapshot for the #Chapter2 Leaderboard will occur on Wednesday February 21st at 7 PM UTC. L
Trader Joe - Has launched $SHOE, a token utilising the DN404 contract, on the Avalanche network. Link
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.