BTC, ETH up Reversing U.S CPI-Related Tumble
By Manoj Dharra
Bitcoin Turns Higher, Reversing CPI-Related Tumble
After slumping to just above $94,000 earlier Wednesday following far stronger than expected U.S. inflation data, bitcoin (BTC) has reversed higher, climbing to $97,500.
“The initial CPI reaction was sharp, but markets bounced back as investors took a more measured approach, realizing more data is needed to confirm the inflation trend,” Jung said.
Jung of Presto also said that news headlines on U.S. President Donald Trump saying that Russia’s Vladimir Putin agreed to talk about ending the Ukraine war also added to the risk-on sentiment among investors.
Ether Shoots Up 4.5% As CBOE, 21Shares Seek To Add ETH Staking To ETF.
The price of Ether jumped 4.5% as CBOE BZX Exchange filed on behalf of asset manager 21Shares to introduce staking to its spot Ether exchange-traded fund (ETF). 21Shares would be the first to offer Ether staking in a spot Ether ETF product if approved.
Bitcoin price could reach $1.5mn by 2030 — Cathie Wood.
Bitcoin’s chances of reaching $1.5 million are improving as institutional investors increase their exposure to digital assets, according to ARK Invest CEO Cathie Wood.
Sui Network’s Stablecoin Market Cap Surpasses $500mn, SUI Jumps 10%.
Sui is trading around $3.57, up by 10% in the last 24 hours, following Sui Network’s stablecoin market cap surpassing $500 million. This milestone signals increasing adoption, with some traders anticipating a rebound once broader market conditions stabilize.
Sonic (Formerly FTM) Sees Explosive Growth with 15% Price Surge and 59% Jump in Trading Volume.
Sonic (prev FTM) is witnessing a surge in trading activity and total value locked (TVL), raising speculation about a potential price breakout. The latest market data shows that the price of S has climbed nearly 15%, accompanied by a 59.23% increase in trading volume. This upward trend comes as TVL approaches the $500 million mark, further fueling bullish sentiment.
PancakeSwap leads a BNB Chain revival, becoming the top DEX in 24hr volume, CAKE Jumps 57%.
PancakeSwap is returning as the busiest DEX, reflecting the revival of BNB Chain. The exchange beat all other DEX in daily and weekly volumes.
PancakeSwap came to the front after Solana’s top DEX decreased their volumes, losing the recent meme token hype. The exchange even surpassed Uniswap, despite launching its V4 liquidity pools and adding to overall volumes.
PancakeSwap itself achieved peak monthly volumes in January, with over $78B in trades. The DEX broke its monthly record from May 2021 and continued with above-average liquidity in February. The DEX produced over $6.72M in revenues for January, with $5.61M accrued in February to date. The exchange consistently grew its monthly fees and revenues. For January, PancakeSwap took over $29M in fees.
State reserve bills add up to $23bn in Bitcoin buys: VanEck.
Proposed laws to create strategic Bitcoin reserves in American states could drive as much as $23 billion in demand for BTC if passed, according to an analysis by asset manager VanEck.
VanEck analyzed 20 state-level Bitcoin reserve bills and found they would require state governments to collectively buy approximately 247,000 BTC if enacted, Matthew Sigel, VanEck’s head of research, said in a Feb. 12 post on the X platform.
Wyoming Highway Patrol Union Mulls Adding Bitcoin To Balance Sheet.
The Wyoming Highway Patrol Association (WHPA), a nonprofit organization supporting troopers, dispatchers and civilian support staff of the highway patrol, is reportedly exploring the adoption of Bitcoin, including adding it to its balance sheet.
Franklin Templeton Launches US Gov’t Money Fund On Solana.
Franklin Templeton, a US-based financial services company with $1.6 trillion worth of assets under management, announced on Feb. 12 that it had launched its OnChain US Government Money Fund (FOBXX) on layer-1 blockchain Solana.
The move marks the latest expansion of FOBXX, which launched in 2021, to another blockchain. FOBXX invests nearly 100% of its assets into US government securities, cash and fully collateralized repurchase agreements with minimal credit risks. As of Jan. 31, 2025, the fund had a total of $512 million worth of assets with a seven-day effective yield of 4.2%.
Robinhood Shares Surge As Q4 Crypto Revenue Jumps 700%
Robinhood shares rose 17% in after-hours trading following strong Q4 earnings.
Q4 earnings beat consensus estimates, with Robinhood reporting $916 million in net income.
The $916 million net income marks Robinhood’s fifth consecutive profitable quarter, surpassing estimates by more than 9%.
Cryptocurrency revenue surged 700% year-on-year, reaching $358 million.
Crypto revenue accounted for over half of Robinhood’s $672 million in transaction-based revenues.
Transaction-based revenues increased over 200% year-on-year.
Crypto trading volumes surged 450% year-over-year, totaling $71 billion.
Japanese CEX Coincheck Posts 75% Revenue Growth During Fiscal Q3.
Japanese crypto exchange Coincheck posted a 75% jump in revenue in its fiscal third quarter.
According to the firm’s earnings report for its fiscal third quarter (Oct. 1 to Dec. 31), Coincheck’s quarterly revenue jumped to $782 million, up 75% from $447 million in revenue in the fiscal second quarter.
Founded in 2012, Coincheck is one of the largest crypto exchanges in Japan, with 2.2 million verified customers as of December. It is the 66th largest crypto exchange in the world, with around $120 million in daily trading volume, according to CoinGecko data.
Hive Digital Clocks $29.2mn In Q3 Revenue As Bitcoin HODL Position Surges.
In the quarter ending Dec. 31, Hive’s revenues from crypto mining and HPC hosting services reached $29.2 million. Its HPC (high-performance computing) business generated $2.5 million in quarterly revenue for an annualized run rate of $10 million. The company’s adjusted earnings were $17.3 million, while net income after tax amounted to $1.3 million.
CME Group Reports Record Crypto Volumes For Q4.
CME Group, a US derivatives exchange, clocked an average daily trading volume of approximately $10 billion for crypto derivatives, a more than 300% increase from the year prior, CME said.
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