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US Bitcoin ETFs recorded nearly $500 million in outflows over three days following hotter-than-expected inflation data. Meanwhile, OpenSea has rolled out its OS2 upgrade, expanding into crypto trading.

The Ethereum Foundation is also making moves, transferring nearly 45,000 ETH into DeFi protocols. In other news, Binance founder CZ set off a meme token frenzy by revealing his dog, Broccoli.

✍️ In today’s newsletter:

Bitcoin ETFs record nearly $500M in outflows over three days
Bitcoin blocks are half empty as L2 adoption accelerates
Doodles set to launch $DOOD token on Solana
Lens Chain adopts Aave’s GHO stablecoin
Crypto market slides as hot PPI data fuels inflation fears
Solana is ready for RWAs, exec says
Binance founder CZ’s dog reveal sparks memecoin frenzy
Ethereum Foundation moves $100M+ in ETH to DeFi protocols
OpenSea enters crypto trading, Foundation announces SEA token airdrop

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💸Bitcoin ETFs Post Three Consecutive Days of Outflows, Totaling Nearly $500M

US spot Bitcoin exchange-traded funds (ETFs) recorded three straight days of outflows, totaling nearly $500 million. On Wednesday alone, BTC ETFs experienced $251 million in outflows.

🏷️Bitcoin Blocks Are Going Out Half Full as Layer 2s Take Off

Bitcoin’s mempools have been experiencing a decline in transactions. Since January, the average transactions per block dropped to a 10-month low, falling below 2,500 in February compared to 3,500–4,500 from May to November.

✍️Doodles Set to Launch Official Token $DOOD on Solana

Doodles, the sixth-largest NFT collection by market cap, announced plans to launch its token, DOOD, on Solana. The token will have a total supply of 10 billion.

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💲Lens Chain Adopts Aave’s GHO Stablecoin For Gas Fee Payments

Lens Chain, an Ethereum L2 social platform, will use Aave’s GHO stablecoin for gas fees to ensure stable and cost-effective transactions.

📉Crypto Market Dips as Hot PPI Data Stokes Inflation Concerns

The crypto market dipped Thursday after hotter-than-expected U.S. PPI data raised inflation concerns. Bitcoin fell 1% to $96,400, while Ethereum dropped 1.1% to $2,650.

📢Solana is Ready For Real World Assets, its Head of Institutions Said

Solana aims to be a hub for real-world assets (RWAs) and institutions, said Nick Ducoff, the Solana Foundation’s head of institutional growth, in an NYSE interview.

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🐶Binance Founder CZ ‘Doxxes’ His Dog and Sparks Memecoin Frenzy

Binance Founder Changpeng “CZ” Zhao sparked a meme token frenzy after teasing the reveal of his dog, a Belgian Malinois named Broccoli. Several coins emerged as developers rushed to create tokens, with the largest on BNB Chain reaching a $75 million market cap.

💰Ethereum Foundation Transfers over $100 Million Worth of ETH into DeFi Lending Protocols

The Ethereum Foundation has moved nearly 45,000 ETH ($118 million) to Aave, Spark, and Compound, according to a Feb. 13 X post. The move comes amid growing online backlash over governance issues.

🗣️OpenSea Expands Into Crypto Trading, Foundation Announces SEA Token Airdrop

NFT marketplace OpenSea has fully rolled out its new trading platform, OS2, expanding into crypto trading. Meanwhile, the OpenSea Foundation is planning a SEA token airdrop.

🌍 ELSEWHERE

Crypto scams likely set new record in 2024 helped by AI, Chainalysis says (Reuters)
Michael Saylor says Bitcoin will be ‘unaffordable’, predicts $5 million BTC price (TheStreet)
GameStop CEO Ryan Cohen fuels speculation retailer will invest its $4.6 billion cash pile in Bitcoin (Fortune)