The crypto market capitalisation has hit new highs since 12th January, passing the $1.75 trillion mark. The market has confidently moved into a state of greed, which we also last saw a month ago. Last month’s corrective pullback and early February’s consolidation have helped gather strength for a real breakout.
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Technically, a growth above the $49K level would set the stage for a test of the all-time highs soon. This will be an exciting development, as it has previously occurred after a halving rather than in anticipation of one.
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CryptoQuant has seen signs that the pressure from miners on BTC is easing. Daily sales by miners dropped from 800 BTC in November-December to less than 300 BTC in 2024. Miners are holding reserves despite declining transaction fee revenues.
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Ethereum’s share of supply in stakes has reached 25% with a total value of $72 billion, with demand for stakes increasing significantly after the Shapella update opened withdrawal options for validators. However, Ethereum lags behind other ecosystems in terms of the percentage of blocked coins.
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MicroStrategy will position itself as ‘a development company for bitcoin and bitcoin-based products’, according to founder Michael Saylor. Since its inception, MicroStrategy has focused on developing and supporting analytics software.
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Crypto platform Bakkt has warned the SEC that it could shut down in the next 12 months due to a lack of funds if it cannot raise money through debt financing or equity dilution.
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The network’s inability to handle the growing volume of transactions is the reason for Solana’s periodic outages. This is the conclusion of a team of experts led by journalist Colin Wu.