Summary
- BTC Price Action: Bitcoin has formed a descending triangle pattern, while ETH briefly dipped below $2,100 before consolidating.
Regulatory Developments:
- U.S. Senate committee approves Howard Lutnick’s nomination as Commerce Secretary.
- FDIC releases guidance on crypto-related activities.
Market Trends:
- Bitcoin mining difficulty rises, reducing January output for major miners.
- Stablecoin market cap exceeds $220 billion (+2.6% WoW).
Ecosystem Highlights:
- Storm Trade TVL surges 26.77% to $33.96 million.
- Ionic Platform hacked ($8.6 million stolen), raising audit concerns.
Market Analysis
Price Trends
Bitcoin (BTC)
- Descending triangle pattern forms amid reduced trading volume.
- Support at ~$94,000; resistance near $102,500.
- MACD and moving averages indicate bearish momentum.
Ethereum (ETH)
- Briefly fell below $2,100 before rebounding to $2,922.
- Consolidating between $2,100–$2,900; weaker relative to BTC.
Altcoins
- Dex Aggregator (+15.3%), Tokenized Assets (+5.6%), and Stablecoins (+3.1%) led gains.
- Notable performers: DEXE (+28.5%), OM (+24.4%), MNT (+6.2%).
Derivatives & Macro
- Options OI dropped 14.3% to $39.84B.
- Positive U.S. ISM PMI (50.9 vs. 49.2 forecast) buoyed sentiment.
Key Themes
Dex Aggregators
- Market Cap: $3.01B (+15.3% WoW).
- Projects like PNDR (+9.2%) and XCHNG (+1.3%) drove growth.
Tokenized Assets
- Catalyst: Regulatory clarity and institutional interest in RWAs.
- Top gainer: XAUT (+5.1%; $28.38B market cap).
Stablecoins
- Market Cap: $222.1B (+63.4% YoY).
- USDT dominates (63.95% share), signaling rising避险 demand.
Weekly Highlights
Regulatory Moves
- Howard Lutnick’s Nomination: Pro-crypto Commerce Secretary could accelerate ETF approvals and stablecoin transparency.
- FDIC Policy Shift: Signals transition from restrictive to structured oversight of crypto banking.
Mining & Security
- BTC Production Drops: Hut 8 (-27%), Mara (-12.5%), Bitfarms (-4.7%). Only Riot Platforms (+2.1%) grew.
- Ionic Hack: $8.6M stolen; audit risks highlighted due to outdated Compound-forked code.
Project Spotlight
- Story Protocol: Launched whitepaper for IP-focused Layer1 blockchain.
Data Snapshots
| Metric | Value | Change (WoW) |
|-----------------------|---------------------|--------------|
| Stablecoin Market Cap | $222.1B | +2.6% |
| Storm Trade TVL | $33.96M | +26.77% |
| Galxe Users | 10M (Q3 2024) | +287% YoY |
Opportunities
Airdrop Alert: Credible
- Earn Moons by completing tasks or lending USDC.
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Top Fundraises
- Taproot Wizards ($30M): Bitcoin smart contract development.
- Reservoir ($14M): Cross-chain token/NFT infrastructure.
- Autonolas ($13.8M): AI agent marketplace Pearl.
Upcoming Events
Token Unlocks (Feb 7–13)
| Token | Unlock Amount | Value | % of Supply |
|-------|---------------|-------------|-------------|
| SAND | 205M | $80.66M | 8.41% |
| APT | 11.31M | $66.95M | 1.97% |
Economic Calendar
- Feb 12: U.S. CPI data release.
- Feb 13: Initial jobless claims.
FAQ
Q: Why is stablecoin growth significant?
A: Rising demand reflects避险 sentiment and institutional liquidity needs.
Q: What’s driving Dex Aggregator growth?
A: Improved trade execution and multi-DEX liquidity aggregation.
Q: How might Lutnick’s appointment impact crypto?
A: Potential for friendlier policies but watch for political pushback.
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Disclaimer: Cryptocurrency investments carry high risk. Conduct independent research before deciding.