Feb 13, 2024

Bitcoin Highs Are Coming 🚀💻📝


Bitcoin Highs Are Coming 🚀💻📝 Valko

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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.

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"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

🏛️ Legal & Regulatory

🖼️ NFTs & Metaverse

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