Monday Crypto Industry Update: Feb 3-9 📰

📊Market Highlights

- Bitcoin is up 1.9% over the last 7 days, currently at $97,500
- Ethereum is sitting at $2,640 with a 2.2% increase last week
- Last week’s top 3 gainers were LTC (+20%), TAO (+19%), and OM (+18%), while top 3 losers were ENA (-16%), DEXE (-15%), and PENGU (-13%)
- Crypto market’s Fear & Greed Index is at 35 Fear today
- Crypto market capitalization at $3.19 trillion, up 0.13% since yesterday
- Stablecoins market capitalization is up 3.12% in last 7 days, currently at $224 billion
- NFT sales volume has increased by 39% in the last 7 days while total sales increased by 14% with 279,464 sales
- Bitcoin market cap dominance is currently at 60.7%, followed by Ethereum at 10% and other cryptocurrencies 29.3%

📃Regulatory Updates

- SEC needs more time to decide on trading of options related to Ethereum ETFs
- Former Celsius CEO requests 30 day delay in his sentencing hearing
- Puerto Rico puts crypto influencer Jeremy Cahen known as Pauly0x on most wanted list
- Tornado Cah developer Alexey Pertsev was released from prison custody in Netherlands and remains on house arrest
- Japan asks Apply and Google to remove downloads of 5 unregistered crypto exchange apps - Bybit Fintech, MEXC Global, LBank Exchange, KuCoin and Bitget
- Czech President signed crypto legislation into law, with clear rules for taxing crypto transactions and the right for crypto companies toa access bank accounts
- Kentucky joined the growing list of US states becoming 16th state to introduce Bitcoin reserve bill
- U.S. Federal Reserve Bank Governor C. Waller supports the adoption of regulated stablecoins to boost US dollar’s status and dominance globally
- Franklin Templeton seeks approval for its Crypto Index ETF to add tokens to the fund over time

🌐Blockchain Technology

- THORChain approves plan to solve liquidity issues by converting its $200 million debt into tokens representing equity in the platform
- Crypto mining company CleanSpark reported a surge in revenue and profitability during Q4 thanks to lower production costs and increasing $BTC prices
- $Ondo Finance introduces institution-focused layer-1 blockchain, $Ondo Chain, for Wall Street firms to tokenize RWAs
- Sony’s blockchain platform Soneium launches its first music NFT collection with Coop Records

💰Investments & Partnerships

- 0G Foundation launched a $88 million fund to support projects creating AI-powered DeFi applications and autonomous agents
- Saudi Arabia partners with global tech innovators, including Google Cloud, Lenovo, Alibaba Cloud, Qualcomm, and Salesforce, to invest $14.9 million in AI, emerging tech and cloud
- BlackRock increases its stake in Michael Saylor’s Strategy to 5%

🛡️Crypto Security

- Central African Republic President’s video announcing their new Solana-based memecoin $CAR suspicious as deepfake AI detectors flag it
- Scammers target Solana-based crypto wallet Phantom users with fake update request pop-ups
- Kaspersky researchers flag malware that scans Android and iOS device users’ images to find wallet recovery phrases

🗞️Miscellaneous

- According to Messari, application revenues on Solana network increased by 213% in Q4 of 2024
- Crypto venture capital firm Hartmann Capital founder believes we are nearing the market bottom
- Austin University to launch $5M Bitcoin investment fund with 5-year holding strategy
- VanEck predicts Solana price will more than double this year, with target of $520 by end of 2025
- UK landfill site, where the missing harddrive with $768M worth of Bitcoin was lost, to close down
- Kanye West claims to have rejected a $2 million offer to promote a crypto scam
- Trump Media and Technology Group (TMTG) files for TruthFi Bitcoin Plus ETF

Have a successful week ahead! 🤝
- Swapin Team