💧BTC Rebounds As Outflows From Grayscale ETF Slow

GM Defiers!

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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