📊 What Ethena is telling us about the crypto market: Ethena's deployed capital has dropped to a multi-year low, at just 71% of its 2025 trough, signaling extremely weak net long demand in crypto.
Directional longs and shorts are nearly balanced—a rare equilibrium in crypto derivatives history that is unlikely to last. Perpetual futures show stable open interest but persistently negative funding rates, reflecting rising hedging and short demand.
Ethena's basis trades have shrunk over 60% since February 8, falling from over $2 billion to under $800 million, mainly due to unwinding of profitable but unsustainable basis positions and pressure from directional shorts and hedging activity. link
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Directional longs and shorts are nearly balanced—a rare equilibrium in crypto derivatives history that is unlikely to last. Perpetual futures show stable open interest but persistently negative funding rates, reflecting rising hedging and short demand.
Ethena's basis trades have shrunk over 60% since February 8, falling from over $2 billion to under $800 million, mainly due to unwinding of profitable but unsustainable basis positions and pressure from directional shorts and hedging activity. link
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WuBlockchain
What Ethena is telling us about the crypto market
Author | @SoskaKyleCrypto markets have been risk-off for several months now and I have been sifting through vario...
🕵️ Global Crypto Mining News in February:
Bitcoin mining difficulty surged nearly 15% to a record 144.4T, the largest absolute increase ever.
Bitdeer liquidated its entire proprietary $BTC holdings and planned $300M+ convertible notes for expansion.
Macro pressures from Trump’s 15% tariff hike drove $BTC below $65,000 with $230M long liquidations.
Canaan acquired 49% of Cipher Mining’s ABC Projects for $39.75M. #macro link
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Bitcoin mining difficulty surged nearly 15% to a record 144.4T, the largest absolute increase ever.
Bitdeer liquidated its entire proprietary $BTC holdings and planned $300M+ convertible notes for expansion.
Macro pressures from Trump’s 15% tariff hike drove $BTC below $65,000 with $230M long liquidations.
Canaan acquired 49% of Cipher Mining’s ABC Projects for $39.75M. #macro link
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Substack
Global Crypto Mining News in February：Bitcoin Mining Difficulty Surges Nearly 15% to a Record High, Bitdeer Liquidates Entire Bitcoin…
Author | Wu Blockchain
🇺🇸👀 Crypto #ETF Flows Today:
Bitcoin ETFs:
1D NetFlow: +2,070 $BTC (+$146.4M)
7D NetFlow: +4,197 $BTC (+$296.8M)
Ethereum ETFs:
1D NetFlow: -24,138 $ETH (-$49.63M)
7D NetFlow: -29,688 $ETH (-$61.04M)
Solana ETFs:
1D NetFlow: -33,350 $SOL (-$2.9M)
7D NetFlow: +38,947 $SOL (+$3.39M)
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Bitcoin ETFs:
1D NetFlow: +2,070 $BTC (+$146.4M)
7D NetFlow: +4,197 $BTC (+$296.8M)
Ethereum ETFs:
1D NetFlow: -24,138 $ETH (-$49.63M)
7D NetFlow: -29,688 $ETH (-$61.04M)
Solana ETFs:
1D NetFlow: -33,350 $SOL (-$2.9M)
7D NetFlow: +38,947 $SOL (+$3.39M)
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🔮 #POLY #UMA Polymarket attracts Palantir-backed company Palantir to develop an artificial intelligence tool for monitoring sports betting. #ai link
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The Block
Polymarket taps Peter Thiel-backed Palantir to develop sports betting AI monitoring tool
The sports betting integrity platform will use Vergence AI engine to help screen for anomalies like manipulation and insider activity in real-time.
🇺🇸👀 #macro USA - Existing Home Sales (Feb) = +1.7% m/m (exp -0.8% / prior -8.4%)
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🐳 After making huge profits in $BTC and $ETH, the whale “pension-usdt.eth” has now opened a $CL long position with 2x leverage.
The whale still holds its $BTC (3x) short position: 1,000 $BTC valued at $69.89M, with a floating loss of $1M. link
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The whale still holds its $BTC (3x) short position: 1,000 $BTC valued at $69.89M, with a floating loss of $1M. link
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🕵️ Michael Saylor's strategy is estimated to have already bought 452 $BTC so far this morning. This amount exceeds the current daily mined bitcoin.
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📊 Starknet launched STRK20, a new privacy token standard providing default anonymity for ERC-20 tokens.
Powered by Starknet Privacy Pool and ZK-proofs, the standard obscures sender/receiver addresses and transaction amounts on-chain while maintaining compatibility with DeFi operations like DEX trading and staking.
It also features encrypted viewing keys to satisfy compliance and auditing requirements. #regulation link
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Powered by Starknet Privacy Pool and ZK-proofs, the standard obscures sender/receiver addresses and transaction amounts on-chain while maintaining compatibility with DeFi operations like DEX trading and staking.
It also features encrypted viewing keys to satisfy compliance and auditing requirements. #regulation link
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www.starknet.io
Make all ERC-20 tokens private with STRK20
Discover STRK20: The infrastructure bringing native privacy to all ERC-20 tokens on Starknet. Enable anonymous swaps, staking, and access to all existing DeFi on Starknet, without fragmented liquidity.
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📝 CNBC: "We've got a war in Iran, we've got a spike in energy prices, we've got A.I. disruptions concerns, we've got cracks in private credit, and we have a weaker jobs report. How do you invest right now?"
Anthony Pompliano: "Buy Bitcoin" link
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Anthony Pompliano: "Buy Bitcoin" link
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📈 Oil prices rise above $85 after US intelligence detects Iran may be deploying mines in the Strait of Hormuz.
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💼 $15 billion asset manager Bitwise publishes report noscriptd "How Bitcoin Gets to $1 Million"
The report suggests that the global “store of value” market will be approximately $121 trillion in 10 years. Bitcoin only needs to capture 17% of this market to reach a value of $1 million per coin.
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The report suggests that the global “store of value” market will be approximately $121 trillion in 10 years. Bitcoin only needs to capture 17% of this market to reach a value of $1 million per coin.
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🕵️ Ethereum activity is at all-time highs.
Active addresses, transfers, and smart contract calls continue to rise, surpassing 2021 levels, even as ETH price has dropped over 50%.
The reason for this discrepancy is capital outflows; network growth does not equate to price increases if liquidity is leaving. link
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Active addresses, transfers, and smart contract calls continue to rise, surpassing 2021 levels, even as ETH price has dropped over 50%.
The reason for this discrepancy is capital outflows; network growth does not equate to price increases if liquidity is leaving. link
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🇺🇸🆕 U.S. senators are seeking a compromise on stablecoin yield to advance the Clarity Act. Some lawmakers and crypto advocates support restricting rewards tied to account balances while allowing incentives linked to account activity. Senators Angela Alsobrooks and Thom Tillis are working on compromise language aimed at preventing deposit flight while preserving room for innovation. #stablecoin link
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Coindesk
Senators try to unlock stalled crypto Clarity Act with compromise on stablecoin yield
As the window narrows to pass a crypto market structure bill this year, lawmakers told bankers at a Washington summit that the final bill won't risk deposits.