Daily News | 86% of Traders Lost Money In LIBRA Trading, Bitcoin ETF Institutional Holdings Increased By More Than 200%
Crypto Daily Digest: 86% of traders lost money on LIBRA trading, Brazil to issue XRP spot ETF
As of press time, according to Farside Investors data, the U.S. Bitcoin spot ETF had a net outflow of $64 million yesterday, of which Fidelity FBTC had a net outflow of $48.4 million; the U.S. Ethereum spot ETF had a net inflow of $19 million, of which Fidelity FETH had a net inflow of $24.5 million and Grayscale ETHE had a net outflow of $5.5 million.
Brazil to Become First Country to Launch Spot XRP ETF
On February 20, Decrypt reported that the Hashdex Nasdaq XRP Index Fund under the crypto asset management company Hashdex has been approved by the Brazilian Financial Investment Regulatory Authority, which will become the world’s first XRP spot ETF. The fund is currently in the pre-operation stage and will soon be listed on the Brazilian B3 Exchange. The specific listing date has not yet been announced.
Ethereum Foundation announced the launch of th Open Intents Framework
On February 20, the Ethereum Foundation announced the launch of the Open Intents Framework, which is driven by more than 30 teams from all areas of the Ethereum eco to accelerate the development of interoperability across the eco. The Open Intents Framework is a modular, open framework designed to enable any chain to seamlessly deliver intent to users and improve the cross-chain user experience.
Nansen: 86% of traders lost money on LIBRA trading
On February 20, according to a report by Nansen Research, 86% of crypto traders lost money after investing in LIBRA, a platform supported by Argentine President Javier Milei, with a cumulative loss of $251 million, while insiders made a profit of $180 million. Nansen researcher Nicolai Sondergaard pointed out that after analyzing more than 15,000 crypto wallets, very clear on-chain evidence was found showing that a group of insiders unilaterally profited from retail investors.
Institutional holdings (Bitcoin spot ETF) increased by more than 200% in Q4
As of Q4 2024, institutional investors hold $38.7 billion worth of spot Bitcoin ETFs. This is more than three times the amount reported in Q3, when holdings were just $12.4 billion.
Market Trends: Bitcoin price continues to recover, XRP rises more than 10% from low point
Market Hotspots
Impacted by the news of XRP spot ETF, XRP rose by 6.53% and was quoted at $2.74 as of press time. It has rebounded by more than 10% from yesterday’s lowest point of $2.48, significantly stronger than large-cap blue-chip tokens such as Bitcoin and Ethereum.
Data shows that Trump’s crypto project WLFI recently withdrew $10 million USDC to purchase 200 million WLFI tokens. In addition, it spent $125,000 USDC to purchase 547,990 SEI tokens at an average price of $0.228.
The trending new coin PI will be launched on the Gate.io platform at 4 pm today. The market popularity of PI coins is extremely high, but the community has reported that KYC cannot be performed within the PI . In addition, the initial circulation and valuation information of PI is still unclear, so users are advised to stay tuned.
Mainstream Coins
Bitcoin has continued to recover since it hit $93,388 the day before yesterday. It once broke through $97,000 today. As of press time, it was quoted at $96,800 and is still fluctuating between $95,000 and $98,500.
Ethereum is also in a range-bound state, with the upper pressure level at $2,760 and the lower support level at $2,580. The current price is $2,721, up 0.28% from yesterday.
Altcoins generally rose, but the upward momentum was weak. Among them, the PayFi sector performed well, rising by more than 5%, with XRP rising by 6.53% and XLM rising by 3.6%. The performance of other sectors was average.
Macro news: The Fed released the minutes of its January meeting, and the offshore RMB fell below 7.29
During the midday trading of U.S. stocks, the Federal Reserve released the minutes of its January meeting. The minutes showed that Fed officials were not in a hurry to cut interest rates, and they wanted to wait for signs of further decline in inflation before taking action. In addition, the minutes also pointed out that Trump’s policies have brought high uncertainty to the economic outlook, so the Fed needs to act cautiously.
The US dollar index continued to move away from the two-month low, and the US dollar index was above 107.10. The offshore RMB fell 200 points and fell below 7.29. The three major US stock indexes opened lower and turned higher during the session, with Tesla rebounding nearly 2%. The chip index continued to rise, and Intel, which rose sharply on Tuesday, closed down more than 6%, and Nvidia ended its three-day winning streak.
