Daily Recap 1-9

Download report
Download PDF

The 40-day correlation between Bitcoin and Nasdaq has recently decreased to zero, breaking their historical positive link, largely due to expectations about the ETF's approval. Previously, this correlation peaked at 0.8 during the 2022 crypto bear market. Link 

Bitget issued its 14th asset reserve certificate, showing increases in user assets: BTC assets rose by 2.33% to 3302.9, ETH assets increased by 9.36% to 27100 and USDT assets grew by 3.29% to 505 million. Link

Valkyrie’s Chief Investment Officer states 95% likelihood of Bitcoin ETF trading beginning this Thursday. Link

El Salvador now has $12.6 million in unrealized profits from its 2,798 Bitcoin holdings, valued at $131.3 million. Link

Over the last week, the Celsius Network: Staked ETH address moved 40,000 ETH, valued over $90 million, to Coinbase or FalconX. This address still retains 47,000 ETH/$108 million at the time of writing. Link

Protocol Developments:

$GMT - STEPN released 79.2 million $GMT valued at $30.24 million and moved 74.02 million $GMT to four addresses, some of which are linked to exchanges. Link

$ATOM - Proposal to reduce the minimum inflation parameter from 7% to 0%. Link

$EVMOS - The Evmos Foundation has reclaimed $7.6 million in tokens from a former Co-Founder who left the organization. Link

$OSMO - Staking v1 will allow users to stake assets, collect rewards, delegate or redelegate. Link