News
Coinbase's recent report highlights that blockchain technology could save consumers over $74 billion in credit card fees. Merchants currently pay over $126 billion in credit card processing fees, which could be virtually eliminated with blockchain use. Link
The Hong Kong SFC updated its cryptocurrency exchange licence application, adding three new companies: bitV, YAX and Bullish. The number of applicants has reached 16. The applications of Ammbr, BitHarbour and Meex were returned on February 7. Link
On February 7, Bitcoin spot ETFs registered a ninth consecutive day of net inflows, totaling $146 million. Despite Grayscale's GBTC ETF facing a single-day outflow of $80.78 million, other ETFs, excluding Grayscale, collectively gained $226 million, with Fidelity's FBTC ETF alone attracting $130 million. Link
During a bi-weekly consensus layer coordination call on Thursday, Ethereum developers scheduled the much-anticipated Dencun upgrade for March 13. This upgrade, also referred to as a "hard fork," is set to activate on the main Ethereum network at slot 8626176, which is expected to happen at 13:55 UTC on March 13. Link
Projects
$ENS - Discussion surrounding building their own Layer 2 solution. Link
$FRAX - Launched their Layer 2 network “Fraxtal” with partner apps. Link
$PYTH - Announced a retroactive airdrop for 160 eligible decentralised applications. The cumulative value of this airdrop is $45m. Link
$SOL - Matthew Sigel from VanEck attributed the Solana outage to a malfunction in its Berkley Packet Filter (BPF) loader, responsible for program deployment, upgrades and execution on Solana. He linked the issue to a prior proposal that introduced an interceptor blocking metadata use in BPF. 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.