The Block
Quick Take: A U.S. court ruled that the trading of certain crypto assets on secondary markets are securities transactions. The ruling comes in an insider-trading case against former Coinbase product manager Ishan Wahi, brother Nikhil Wahi and friend Sameer Ramani.
The trading volume of Bitcoin Ordinals hit over $51 million — levels not seen since December 2023.Milady Maker has seen a 24-hour sales increase of roughly 240%, with transaction count at a similar level.
South Korea’s privacy authority announced an investigation on Worldcoin after receiving reports concerning the project’s collection of sensitive information.
Quick Take State-owned newspaper Economic Daily wrote that investors should “stay cautious” about bitcoin-related products despite the recent bitcoin price rally. China banned all crypto trading and mining activities in September 2021, but many Chinese mainland investors still found ways to circumvent the rules and trade overseas.
Quick Take: The surge in EigenLayer’s total value locked (TVL) is attributed to continuous ether deposits and the rise in ether’s price. Assets deposited to EigenLayer have increased from $1.1 billion to $10 billion year-to-date.
Bitcoin price briefly hit above $64,000 on Monday in Asia, according to The Block’s Price Page.Bitcoin futures open interest hit its all-time high while spot ETFs continued to boom.
Quick Take The Department of Energy was sued in a Texas court after the Energy Information Administration said in February that it would begin surveying crypto mining firms. The parties involved in the lawsuit said they came to an agreement, according to a notice filed on Friday.
Macroeconomic factors may act as a barrier to further crypto valuation increases in the near term, according to Grayscale.“If inflation remains stubbornly high, Fed officials may consider delaying rate cuts until later in the year or until 2025,” analysts at the crypto asset manager noted.
Quick Take The creator of the Minecraft-based project NFT Worlds, now working on the crypto game Hytopia, is issuing a node sale that will allow people to earn rewards. The blockchain-based game is scheduled to launch a beta version early this year and has more than 1 million users pre-registered, according to the developer.
Open interest for bitcoin futures on centralized exchanges reached an all-time high after the recent price rally.Aggregated open interest for bitcoin futures stands at over $26 billion, according to Coinglass data.
