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Quick Take CryptoQuant says that the expansion of stablecoins over the past year could drive the next cryptocurrency rally. A report revealed that, in 2024, stablecoin transfer volume surpassed Visa and Mastercard’s combined transaction volume.
Quick Take Grayscale Investments has launched Dogecoin Trust. The company said DOGE “has transitioned from a memecoin of a Shiba Inu to a tool for global financial inclusion.”
Quick Take The firm filed a registration statement with the agency on Friday for the 21Shares Polkadot Trust. The ETF would trade on the Cboe BZX Exchange and would track the performance of DOT, the native token for the Polkadot Network.
- 14:05Grey-scale address change: Over $360 million worth of BTC transferred on a large scalePANews reported on February 7th that blockchain data shows a large amount of Bitcoin (BTC) has just been transferred from multiple addresses under Grayscale, with the total amount exceeding $360 million, involving 4,457 BTC. The largest single transfer reached 694.019 BTC (about $67.96 million), other large transactions include 692.684 BTC ($67.83 million), 633.691 BTC ($62.05 million), 557.457 BTC ($54.59 million), and 549.336 BTC ($53.79 million). All funds have been transferred to several new addresses, the specific purpose is not yet clear.
- 14:00Institution: There is a high possibility that the Federal Reserve will not cut interest rates this yearNews on February 7, PGIM Fixed Income Portfolio Manager Michael Collins stated that this is another sign of the economy's continued resilience. This is a strong economy. The Federal Reserve can now stand still completely. They might not take action (cut interest rates) this year, and the possibility is very high.
- 13:59Federal Reserve Kashkari: Good inflation data and a strong labor market will prompt me to support further interest rate cutsFederal Reserve Kashkari: If we see good inflation data and the labor market remains strong, then this will prompt me to support further interest rate cuts.