👇Bitcoin ETF Flows Evaporate
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Bitcoin ETF flows are at a record low, with just $106M worth of assets moving through spot BTC exchange-traded funds on Feb. 6.
Ethereum's Dencun upgrade passed its final testnet deployment, with onlookers describing the Dencun Holesky fork as "uneventful." The price of ETH also tagged a two-week high after Ark amended its Ether ETF filing amid speculation that spot ETFs investing in ETH could receive regulatory approval come May.
Airdrops continue to capture the imagination of web3 users, with 100M PYTH set to be distributed amid the second phase of Pyth's token drop. Wormhole, the popular cross-chain bridge, also announced plans to drop a token to early adopters.
Plus, Ondo will launch its treasury-backed stablecoin USDY on Sui, while ERC-404 tokens push past a $170M market cap.
✍️ In today’s newsletter:
- BTC ETF activity recedes
- Dencun live on Holesky
- ETH rallies amid ETF hype
- Pyth launches second airdrop phase
- Wormhole unveils upcoming airdrop
- Ondo's USDY comes to Sui
- ERC-404 tokens rally
🎙️The Defiant Podcast & Interviews:
🎬 WATCH
Check out our discussion with Tina and Teddy to learn more about EigenLayer, the pioneering Ethereum restaking protocol. Also watch our podcast with Thomas Mattimore, CEO of ABC Labs, to find out about creating asset-backed stablecoins using Reserve Protocol.
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The Reserve protocol empowers anyone to launch and govern currencies called “RTokens” backed by baskets of onchain collateral. Preserve your spending power with yield-bearing RTokens like ETH+ and hyUSD.
