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💧BTC Rebounds As Outflows From Grayscale ETF Slow

The Defiant

DeFi Alpha

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Outflows from Grayscale's Bitcoin ETF have steadily slowed since the markets posted a local low last week. Outflows are down 60% while the price of BTC is up more than 12% since Jan. 23.

Liquid restaking is surging on Ethereum, with the sector surpassing $900M in TVL as new projects enter the space. In related news, liquid staking is now live on dYdX Chain.

Ethereum's Layer 2 ecosystem continues to expand, with Immutable launching the early access mainnet phase for its Polygon-powered zkEVM. Manta's native token is also at a more than $3.5B valuation 10 days after launching.

Plus, Farcaster's on-chain activity is soaring after rolling out "Frames", and WEN is the latest Solana-based memecoin to capture degens' imaginations.

✍️ In today’s newsletter:

  • Grayscale outflows down, BTC price up
  • Swell enters liquid restaking sector
  • Liquid staking on dYdX Chain
  • Immutable zkEVM' mainnet rollout
  • MANTA outperforms
  • Farcaster activity spikes
  • WEN rallies post-airdrop

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🎬 WATCH

Check out our interview with the popular crypto trader and commentator, Fiskantes, to get his take on the recent bullish market momentum. Also watch our podcast with Mustafa Al-Bassam, CEO and Co-Founder of Celestia Labs, to learn more about modular blockchain architecture and data availability.

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