Bitcoin Highs Are Coming 🚀💻📝

Valko

Bitcoin Highs Are Coming 🚀💻📝 Valko

Specs’ Insights

Bitcoin Breaks $50K for First Time Since Hitting All-Time High in 2021 - Decrypt

Bitcoin has broken past $50,000 per coin after a great week. The last time the asset was priced this high was back at the end of 2021.

⌐◪-◪ → Bitcoin just broke $50k, and it’s all thanks to Biden’s viral laser eyes post, haha.

Seriously though, there’s a lot of speculation as to whether or not Biden’s post has anything to do with Bitcoin or if it was just a Super Bowl joke.

Some believe the post was a coordinated effort, along with Jack Dorsey’s Satoshi t-shirt at the Super Bowl, to pump Bitcoin over $50k.

Others think Biden is trying to win favor with Taylor Swift by rigging the Super Bowl, which he hints at with his caption, “Just like we drew it up”.

While it’s probably just a joke, I still like to entertain the conspiracy theories haha.

One thing is for sure — there’s no way Biden’s posting on 𝕏 himself, but whoever is deserves a raise.

Let me know in Specs Chat!

"Divisible NFT" standard (DN404) launches, which aims to be a hybrid ERC20/721 token

ERC404 took the crypto world by storm over the past few days, but it doesn't follow existing standards, is inefficient, and breaks at certain edge cases.

⌐◪-◪ → Cygaar just announced the “Divisible NFT” standard (DN404) which was inspired by the recent ERC-404 standard popularized by the Pandora NFT Collection.

There is no project or NFT collection attached to this work either, it’s just open-source code that the world can freely use. A public good.

The major unlock here, as we covered in discussing ERC-404, is having NFTs that can trade on both NFT exchanges and decentralized exchanges (DEXs). It effectively creates a native fractionalization for NFTs that could bolster liquidity.

The full codebase can be found here. Major shoutout to @0xCygaar and the other devs involved: @optimizoor, @0xQuit, @0xjustadev, @AmadiMichaels, and @PopPunkOnChain.

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Franklin Templeton takes initial step for spot Ethereum ETF with new SEC filing

Investment firm Franklin Templeton threw in its hat for a spot Ethereum ETF, joining others in their bid for potential approval from the SEC.

⌐◪-◪ → $1.5T asset manager Franklin Templeton just entered the race for a spot Ether ETF with a new SEC filing.

The proposed fund will be called the Franklin Ethereum ETF (how creative) and will use Coinbase Custody and Bank of New York Melon as the custodian.

Other applicants include Cathie Wood’s Ark Invest, Grayscale Investments, and BlackRock — some of which have already amended their applications to include staking components.

Experts have mixed opinions on whether we’ll see the approval of spot Ether ETFs this year. With all the tailwinds in our favor, I am optimistic, but the staking component may create some complexities and material differences relative to the already approved spot Bitcoin ETFs.

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Everything Else

⛓️ Crypto & DeFi

Ether options open interest on CME on track to hit all-time high
The Block backs digital assets indices firm GMCI
Jito Foundation earmarks 12M tokens for governance delegates
Puffer Finance hits $850M TVL, 2nd largest liquid restaking protocol
Nym receives $150k grant to integrate its mixnet with Zcash

🏦 Wallstreet & VC

Peter Thiel’s Founders Fund invested $200M in BTC & ETH last year
Analog raises $16M for blockchain interoperability
Grayscale parent co DCG reports Q4 revenues of $210M, up 59% YoY
Michael Saylor now $3.5B in profit
Michael Saylor says Microstrategy is a BTC development company

🏛️ Legal & Regulatory

Blockchain Association raises concerns over Warren’s AML bill
CZ’s sentencing postponed until end of April
SEC is taking cybersecurity seriously, Gensler tells Congress
Coinbase vs SEC early dismissal chances are “low”

🖼️ NFTs & Metaverse

Pudgy Penguins top $50k as holder bet on flipping BAYC
South Korean Com2uS to develop web3 games on Oasys blockchain
Pokemon-esque game Pixelmon picks Immutable zkEVM blockchain
Another EtherRock sells for 279 ETH (~$739k)
Magic Eden’s new marketplace will protect royalties starting Feb 27

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Specs Chat is more than just a group chat, it’s a community designed to help you become a better crypto investor and operator.

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