📊 What Ethena is telling us about the crypto market: Ethena's deployed capital has dropped to a multi-year low, at just 71% of its 2025 trough, signaling extremely weak net long demand in crypto.
Directional longs and shorts are nearly balanced—a rare equilibrium in crypto derivatives history that is unlikely to last. Perpetual futures show stable open interest but persistently negative funding rates, reflecting rising hedging and short demand.
Ethena's basis trades have shrunk over 60% since February 8, falling from over $2 billion to under $800 million, mainly due to unwinding of profitable but unsustainable basis positions and pressure from directional shorts and hedging activity. link
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Directional longs and shorts are nearly balanced—a rare equilibrium in crypto derivatives history that is unlikely to last. Perpetual futures show stable open interest but persistently negative funding rates, reflecting rising hedging and short demand.
Ethena's basis trades have shrunk over 60% since February 8, falling from over $2 billion to under $800 million, mainly due to unwinding of profitable but unsustainable basis positions and pressure from directional shorts and hedging activity. link
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🕵️ Global Crypto Mining News in February:
Bitcoin mining difficulty surged nearly 15% to a record 144.4T, the largest absolute increase ever.
Bitdeer liquidated its entire proprietary $BTC holdings and planned $300M+ convertible notes for expansion.
Macro pressures from Trump’s 15% tariff hike drove $BTC below $65,000 with $230M long liquidations.
Canaan acquired 49% of Cipher Mining’s ABC Projects for $39.75M. #macro link
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Bitcoin mining difficulty surged nearly 15% to a record 144.4T, the largest absolute increase ever.
Bitdeer liquidated its entire proprietary $BTC holdings and planned $300M+ convertible notes for expansion.
Macro pressures from Trump’s 15% tariff hike drove $BTC below $65,000 with $230M long liquidations.
Canaan acquired 49% of Cipher Mining’s ABC Projects for $39.75M. #macro link
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🇺🇸👀 #macro USA - Existing Home Sales (Feb) = +1.7% m/m (exp -0.8% / prior -8.4%)
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🇺🇸👀 #macro USA - Existing Home Sales (Feb) = +1.7% m/m (exp -0.8% / prior -8.4%)
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Free Academy & VIP Access
📊 Starknet launched STRK20, a new privacy token standard providing default anonymity for ERC-20 tokens.
Powered by Starknet Privacy Pool and ZK-proofs, the standard obscures sender/receiver addresses and transaction amounts on-chain while maintaining compatibility with DeFi operations like DEX trading and staking.
It also features encrypted viewing keys to satisfy compliance and auditing requirements. #regulation link
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Powered by Starknet Privacy Pool and ZK-proofs, the standard obscures sender/receiver addresses and transaction amounts on-chain while maintaining compatibility with DeFi operations like DEX trading and staking.
It also features encrypted viewing keys to satisfy compliance and auditing requirements. #regulation link
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🐳 Whale 0x8E34 withdrew 44,888 $ETH ($92.97M) from Kraken 1 hour ago. link
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💼 $15 billion asset manager Bitwise publishes report titled "How Bitcoin Gets to $1 Million"
The report suggests that the global “store of value” market will be approximately $121 trillion in 10 years. Bitcoin only needs to capture 17% of this market to reach a value of $1 million per coin.
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The report suggests that the global “store of value” market will be approximately $121 trillion in 10 years. Bitcoin only needs to capture 17% of this market to reach a value of $1 million per coin.
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🕵️ Ethereum activity is at all-time highs.
Active addresses, transfers, and smart contract calls continue to rise, surpassing 2021 levels, even as ETH price has dropped over 50%.
The reason for this discrepancy is capital outflows; network growth does not equate to price increases if liquidity is leaving. link
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Active addresses, transfers, and smart contract calls continue to rise, surpassing 2021 levels, even as ETH price has dropped over 50%.
The reason for this discrepancy is capital outflows; network growth does not equate to price increases if liquidity is leaving. link
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🧑💻 Wells Fargo has applied to register the trademark "WFUSD."
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🇺🇸🆕 U.S. senators are seeking a compromise on stablecoin yield to advance the Clarity Act. Some lawmakers and crypto advocates support restricting rewards tied to account balances while allowing incentives linked to account activity. Senators Angela Alsobrooks and Thom Tillis are working on compromise language aimed at preventing deposit flight while preserving room for innovation. #stablecoin link
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📌 Top 5 News for 24 Hour:
1. Bitmine deposits $10.75M worth of $ETH into Coinbase. → Read full
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2. Amid global uncertainties, Pompliano advises investing in Bitcoin. → Read full
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3. Elon Musk announces early access for X Money. → Read full
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4. Whale "pension-usdt.eth" opens $CL long position. → Read full
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5. Cypherpunk Manifesto published by Eric Hughes in 1993. → Read full
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EXCAVO | Academy | News | YouTube
1. Bitmine deposits $10.75M worth of $ETH into Coinbase. → Read full
👁 396 | ❤️ 0 | 🔁 6
2. Amid global uncertainties, Pompliano advises investing in Bitcoin. → Read full
👁 288 | ❤️ 2 | 🔁 6
3. Elon Musk announces early access for X Money. → Read full
👁 318 | ❤️ 1 | 🔁 5
4. Whale "pension-usdt.eth" opens $CL long position. → Read full
👁 337 | ❤️ 0 | 🔁 5
5. Cypherpunk Manifesto published by Eric Hughes in 1993. → Read full
👁 285 | ❤️ 0 | 🔁 5
EXCAVO | Academy | News | YouTube