| Reading time: 5 minutes | News | Crypto Converter | Crypto Calculators | BNB and CAKE lead market gains as Bitcoin stagnates | | Key points: | PancakeSwap's CAKE surged 35% in the last 24 hours and 107% over the past week, hitting a yearly high of $3.04 amid record trading volume. BNB jumped 9.3% following Binance founder CZ's tweets, flipping Solana's SOL in market cap rankings.
| News - While Bitcoin remains rangebound between $95,000 and $98,000, altcoins like BNB and CAKE have defied market stagnation, posting significant gains. PancakeSwap's CAKE has skyrocketed, gaining 35% in just 24 hours and 107% over the past week, fueled by $3.02 billion in trading volume—making it the most traded DEX token, surpassing Uniswap. | Meanwhile, BNB surged 9.3%, overtaking Solana's SOL in market capitalization after a series of tweets from former Binance CEO Changpeng Zhao (CZ) hinting at BNB Chain's growing memecoin ecosystem. | Why is CAKE pumping? - PancakeSwap's record trading activity has significantly increased demand for CAKE. Spot trading volume soared 311% to $1.04 billion, showing strong market participation. Additionally, CAKE's open interest surged 61%, signaling that more traders are betting on continued upward momentum. | BNB's rally: CZ's tweets and memecoin hype - BNB has seen a 40% rebound from its five-month low, trading at $698 at press time. The MyShell IDO launch on Binance Wallet attracted massive interest, with over 20x the expected subscriptions, boosting demand for BNB. CZ's tweets about memecoins have also fueled speculation that BNB Chain could follow Solana's memecoin-driven rally from earlier this year. | What's next? - For CAKE, breaking above $3.63 resistance could propel it toward $5.24, but profit-taking could push it back below $3.00. BNB's next target is $793, with a potential breakout toward $970 if momentum continues. However, if support at $685 fails, a reversal to $610 could follow. | With Bitcoin's price stuck in a tight range, traders are shifting focus to high-momentum altcoins, keeping BNB and CAKE in the spotlight. | Ethereum surges as 21Shares seeks SEC approval for staked ETH ETF | | Key points: | Ethereum's price climbed 3% after CBOE BZX Exchange filed to allow staking in the 21Shares Ethereum ETF, potentially making it the first U.S. ETF to offer staking rewards. Short liquidations fueled the rally, as over $37 million in short ETH positions were wiped out since February 12, forcing traders to buy back ETH at higher prices.
| News - Ethereum is seeing a strong price rebound, rising 3% to $2,681 as of February 13. The gains follow CBOE BZX Exchange's filing with the U.S. Securities and Exchange Commission (SEC) to introduce staking rewards for the 21Shares Ethereum ETF. If approved, this would make it the first U.S. spot Ethereum ETF to offer staking rewards, a significant step for institutional adoption. | The proposal outlines a plan to stake a portion of the ETF's ETH holdings to generate passive yield for investors. This move is expected to make Ethereum-based ETFs more attractive, addressing a key concern that has made Bitcoin ETFs significantly more popular than Ethereum ETFs in recent months. | Additionally, Ethereum saw a $37 million short squeeze, where traders betting against ETH were forced to cover their positions by buying back the asset at higher prices. This buying pressure contributed to today's rally, marking the first significant spot inflows for ETH in February. | Market reaction & analyst predictions | Spot inflows: ETH recorded its first positive spot inflows this month, totaling $11.87 million, signaling renewed investor confidence. Technical indicators: Analysts point to Ethereum's RSI at 36, a level where previous rebounds have led to 80% price surges in the past. If history repeats, ETH could be on track to hit $3,000+ soon. ETF approval uncertainty: Bloomberg's James Seyffart noted that SEC approval remains uncertain, but if acknowledged, the final decision deadline could be around October 30.
| What's next? | If Ethereum breaks above $2,811, analysts predict a rally toward $3,321 in the coming weeks. A failure to maintain momentum could push ETH back below $2,500 if profit-taking increases. The ETF approval process will be key, as institutional investors may ramp up interest if staking incentives are allowed.
| With renewed optimism and institutional backing, Ethereum could be entering a major recovery phase. However, regulatory uncertainty remains a critical factor to watch. | Bitcoin faces $494M ETF outflows, but whales signal market bottom | | Key points: | Bitcoin ETF outflows hit $494 million over three consecutive days, with retail investors selling amid economic uncertainty. Despite the sell-off, Bitcoin whales accumulated nearly $3.8 billion, hinting at a potential market bottom.
| News - Bitcoin is navigating a turbulent market as ETF outflows accelerate, while whale accumulation suggests a potential turning point. Over the past three days, U.S. spot Bitcoin ETFs recorded $494 million in net outflows, marking the largest capital drain since January. The number of Bitcoin wallets holding a non-zero balance has also declined to a five-month low, signaling retail sell-offs. | Institutional outflows were particularly pronounced on February 12, with $251 million leaving Bitcoin ETFs in a single day. Fidelity's Wise Origin Bitcoin Fund (FBTC) led the losses with $102 million in outflows, followed by BlackRock's iShares Bitcoin Trust (IBIT) with $22.1 million. | Bitcoin's price remained trapped around the $96,000 mark, continuing its sideways trading since mid-November. Analysts believe a decisive break above $100,000 is needed to regain bullish momentum. | Whales accumulate despite retail sell-off - While retail investors and institutions are exiting Bitcoin, large holders—often referred to as whales—are aggressively accumulating. Data from IntoTheBlock shows that on February 5 alone, whales acquired 39,620 BTC worth $3.79 billion, marking one of the strongest accumulation events in months. | Juan Pellicer, Senior Research Analyst at IntoTheBlock, noted that this pattern mirrors previous accumulation phases seen before market bottoms. Pellicer added that large players might be seeing value at current price levels, suggesting that the market is nearing a bottom. | Meanwhile, on-chain data from CryptoQuant indicates that Bitcoin whale exchange inflows are plateauing, a historical signal of a forthcoming rally. When large Bitcoin holders reduce their deposits to exchanges, it often marks the beginning of a new bullish phase. | Bitcoin's next move: Breakout or breakdown? - With both retail outflows and whale accumulation in play, the market remains at a critical juncture. If Bitcoin breaks above $100,000, analysts foresee renewed institutional demand, potentially sending it toward its all-time high of $109,000. | However, a failure to reclaim key resistance levels could see Bitcoin retest the $90,000-$92,000 support zone, which aligns with the cost basis of new whale investors. | What's next? | The SEC's next stance on Bitcoin ETFs could determine whether capital inflows return. U.S.-China trade tensions remain a wildcard, affecting global risk appetite. On-chain data suggests whales are positioning for a long-term move, reinforcing a bullish macro trend despite short-term uncertainty.
| For now, Bitcoin remains stuck in a tug-of-war between institutional exits and deep-pocketed whales looking to capitalize on market weakness. The next breakout move—up or down—will likely set the tone for the coming weeks. | South Korea to lift crypto trading ban for institutions in phases | | Key points: | South Korea's Financial Services Commission (FSC) will lift its crypto trading ban for institutions, starting with charities and universities in early 2025. A phased approach will allow 3,500 corporations and professional investors to open crypto exchange accounts, with additional regulations to curb market manipulation.
| News - In a landmark shift, South Korea is set to ease its seven-year ban on corporate cryptocurrency trading, allowing institutions and businesses to participate in the digital asset market. The Financial Services Commission (FSC) announced that charities, universities, and school corporations will be the first to sell their crypto holdings, followed by a broader rollout for corporations and professional investors in late 2025. | The decision marks a shift in South Korea's approach to crypto regulation, which was initially implemented in 2017 to curb speculation and money laundering. Now, the FSC acknowledges that global market trends and rising domestic demand for blockchain-related businesses require updated regulations. | Phased crypto trading roadmap for institutions - The FSC outlined a step-by-step roadmap to gradually integrate institutions into the crypto market: | First half of 2025 – Charities, universities, and non-profit organizations will be allowed to liquidate their crypto donations. Second half of 2025 – A pilot program will enable 3,500 corporations and professional investors to open "real-name" accounts on crypto exchanges. Regulatory oversight – A special task force will create trading guidelines to prevent money laundering, market manipulation, and post-listing volatility.
| The FSC also announced that crypto exchanges will be allowed to sell a portion of their holdings, including user-generated fees. However, the regulator remains concerned about pump-and-dump schemes and will enforce stricter token listing standards to prevent sudden price swings. | What's next? | The task force—comprising financial regulators, banking institutions, and digital asset groups—will draft crypto trading guidelines for corporate participation. Listed companies with at least $6.8 million in financial investments will be closely monitored to prevent illegal activities. South Korea's decision may influence regional crypto regulations, as countries like Japan and Singapore refine their institutional trading frameworks.
| This move signals a more crypto-friendly stance from one of Asia's most tightly regulated markets. With institutions now entering the space, South Korea's digital asset landscape is set for major transformation in 2025. | | More stories from the crypto ecosystem | | Interesting facts | In May 2023, Tether, the issuer of the largest stablecoin USDT, announced plans to establish a Bitcoin mining operation in Uruguay using renewable energy. This move signifies Tether's diversification into sustainable Bitcoin mining, leveraging Uruguay's abundant renewable energy resources. Entities behind President Donald Trump's memecoin have accumulated close to $100 million in trading fees in less than two weeks. This venture has seen tens of thousands of small traders lose money, highlighting the risks associated with investing in meme-based cryptocurrencies. As of early 2025, Bitcoin reserves on cryptocurrency exchanges have dropped to their lowest level since 2022, with only 2.5 million BTC remaining. This trend indicates a growing preference among investors to hold their assets in private wallets, reflecting increased concerns over security and a long-term investment mindset. Seeking impartial news? Meet 1440. Every day, 3.5 million readers turn to 1440 for their factual news. We sift through 100+ sources to bring you a complete summary of politics, global events, business, and culture, all in a brief 5-minute email. Enjoy an impartial news experience. Join for free today!
| | Top 3 coins of the day | PancakeSwap (CAKE) | | Key points: | At press time, CAKE was trading at $3.17, reflecting a 19.74% increase over the last 24 hours. It was among the top gainers today, with strong buying momentum pushing prices beyond the 9-day EMA.
| What you should know: | PancakeSwap's price surged significantly, climbing nearly 20% in the last 24 hours. The 9-day EMA ($2.16) had been acting as a dynamic resistance, but today's breakout confirmed a strong bullish push. Volume also spiked, signaling renewed investor interest. The Relative Strength Index (RSI) at 76.33 entered the overbought zone, suggesting that CAKE may see some consolidation or minor pullback before another leg up. If bullish momentum persists, the next resistance to monitor would be around the $3.50–$3.80 zone. However, if selling pressure kicks in, support lies near $2.50. | BNB (BNB) | | Key points: | At press time, BNB was trading at $725, reflecting a 4.06% increase over the last 24 hours. It experienced a strong recovery from its recent dip, with a surge in trading volume indicating renewed investor interest.
| What you should know: | BNB displayed a robust bullish momentum, climbing above the $700 threshold after a period of consolidation. The 9-day SMA trended upward, reinforcing the buying pressure seen over the past few sessions. Moreover, the DMI suggested increasing bullish dominance, with the +DI line surpassing the -DI, indicating a potential continuation of the uptrend. Meanwhile, volume activity surged, signaling strong market participation in the rally. Traders should keep an eye on the $740 resistance zone, as a breakout above this level could extend the current bullish trajectory. Conversely, a correction could see support forming near $680, where buyers may attempt to stabilize the price. | Bitget Token (BGB) | | Key points: | At press time, BGB was trading at $5.46, reflecting a 9.29% decline over the last 24 hours. The Awesome Oscillator (AO) showed extended red bars, signaling strong bearish momentum, while the Parabolic SAR placed resistance above recent price candles.
| What you should know: | BGB experienced a sharp downturn, losing over 9% in value as sellers gained dominance. The decline was accompanied by increased selling pressure, as reflected in the red histogram bars of the Awesome Oscillator, indicating a sustained downtrend. Meanwhile, the Parabolic SAR's placement above the price candles reinforced the bearish outlook, suggesting that BGB could struggle to find immediate support. Despite the bearish conditions, volume activity remained relatively stable, indicating that traders were still active at the current price levels. The next support zone to monitor lies around $5.00, while any potential recovery could face resistance near $6.00, aligning with previous price consolidations. | How was today's newsletter? | |
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