After a week of double-digit losses for Bitcoin and Ethereum, the crypto market sell-off may be running out of steam. That’s according to Tom Lee, chair of Ethereum treasury company Bitmine Immersion Technologies, who made that case in an interview on CNBC’s Squawk Box on Monday as the paper losses on his firm’s Ethereum stash grew to an eye-watering $6.6 billion. “All the pieces are in place for crypto to be bottoming right now,” Lee said, adding that he believes the $3.6 trillion industry’s fundamenta ...

Market Overview - Bitcoin (BTC) has experienced a significant selloff, dropping below $80,000 for the first time since April, with over $2 billion in long and short positions liquidated since Thursday [1] - Cryptocurrency-related stocks are under pressure due to the decline in Bitcoin's value [1] Company Insights - Strategy Inc (NASDAQ:MSTR), the largest holder of Bitcoin, purchased an additional 855 Bitcoin for approximately $75.3 million this past week, despite its shares being down 56% year over year [2] - MSTR shares were last seen trading at $145.16, having hit a 52-week low of $138 [2] - Coinbase Global Inc (NASDAQ:COIN) shares are down 2.9% to $187.24, marking a 10th consecutive daily loss and a 35.8% decline over the past 12 months [3] Short Selling Activity - In the last two weeks, investors have been buying back shorted shares of MSTR and COIN, although the stocks continue to decline [3] - Currently, 11.8% of MSTR's available float is sold short, while 7.5% of COIN's shares are shorted [3]

Core Viewpoint - Bitcoin's recent price drop has put significant pressure on Strategy Inc., the largest corporate holder of Bitcoin, as its stock price has fallen below the average purchase cost of its Bitcoin holdings, indicating a shift in market sentiment towards skepticism [1][2]. Group 1: Financial Metrics - Strategy Inc.'s cost basis for Bitcoin is currently at $76,052, which was previously viewed as a psychological support level. This level was breached as Bitcoin fell below $76,000 [2]. - The company has invested $54.2 billion in its Bitcoin holdings, but at the recent low price of $74,541, the value of these holdings has decreased to approximately $53.2 billion [3]. - Strategy Inc. has a cash cushion of $2.25 billion, built through stock sales, which provides some financial stability despite the current market conditions [4]. Group 2: Market Dynamics - The company's strategy involves raising capital by selling shares that trade above the value of its Bitcoin holdings, which has become increasingly difficult as its stock has declined nearly 70% from its peak [2][5]. - Despite holding over 713,000 Bitcoin tokens, the value of these assets has diminished as Bitcoin's appeal as a hedge against inflation and fiat currency debasement has waned [6]. - Market focus has shifted towards more speculative investments, such as AI stocks and commodities like gold and silver, further complicating Strategy's ability to attract new investors [6].

Core Viewpoint - BitMine Immersion Technologies (BMNR) continues to purchase Ethereum (ETH) despite a significant sell-off in the crypto market, resulting in unrealized losses and a decline in stock price to a 7-month low [1][3]. Group 1: Company Holdings and Financials - BMNR purchased 41,788 ETH last week, the largest weekly acquisition this year, valued at approximately $96 million, increasing total ETH holdings to 4,285,125 tokens, representing about 3.55% of Ethereum's circulating supply [2]. - The firm also holds 193 bitcoin (BTC), $586 million in cash, a $200 million stake in Beast Industries, and a $20 million stake in Eightco Holdings [2]. - The total value of BMNR's crypto, cash, and equity holdings has decreased to $10.7 billion due to falling crypto prices, with an estimated $6 billion in unrealized losses [3]. Group 2: Market Activity and Trends - Despite the price weakness of ether, there has been a rise in activity on the Ethereum blockchain, with daily transactions and active addresses reaching record highs [4]. - The chairman noted that the current situation contrasts with previous crypto winters, where transaction activity and active wallets declined [4]. - The market has been affected by the lingering effects of October's crypto crash and a surge in precious metals prices, which have drained liquidity from the crypto economy [5]. Group 3: Staking and Revenue - BMNR has increased its staking activities, raising total staked ETH to nearly 2.9 million tokens, which is about two-thirds of its holdings, generating an estimated annualized staking revenue of $188 million [5].

Core Insights - The narrative around Bitcoin as digital gold is losing its appeal, leading to a renewed interest in Ethereum, which powers a significant portion of decentralized finance and stablecoin markets [3] - Ethereum's smart contract capabilities and its first-mover advantage have resulted in nearly 60% of funds locked in decentralized finance being on its ecosystem [4] - Ethereum faces challenges such as slower transaction speeds and scalability issues compared to newer blockchains, relying on layer 2 solutions for efficiency [5] Investment Drivers - Adoption of stablecoin legislation and interest in real-world tokenization could signal significant changes in the blockchain industry, with Nasdaq proposing tokenized security trading [6] - The potential for increased institutional and corporate treasury buying of Ethereum is anticipated, particularly with the expected changes in staking rewards for Ethereum ETFs [6] - Ethereum's adaptability is highlighted, with expectations for a mix of technical, economic, and community-led solutions to address current layer 2 value imbalances [6]

Bitcoin treasury firm Strategy (NASDAQ: MSTR) acquired 855 bitcoin for roughly $75.3 million between January 26 and February 1, bringing its total treasury to 713,502 BTC. Filings indicate the total investment in bitcoin now stands at $54.26 billion. The aggregate purchase price across the entire portfolio averages $76,052 per bitcoin. The #1 podcast for emerging tech stocks, Bitcoin, and weekly news analysis. Subscribe to the Blockspace Podcast here, on Apple, Spotify, or anywhere you listen to podcasts ...

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack. GM! Today’s top news: Crypto majors dumped over the weekend, down 10-20% on week; BTC at $78k Saylor’s MSTR briefly goes underwater as BTC tapped $75k Tom Lee’s BMNR down $6.9B on ETH position Hyperliquid reportedly testing native prediction markets Polymarket coming to Solana via Jupiter integr ...

RT Santiment (@santimentfeed)🧑‍💻 Here are crypto's top coins that are partially or fully associated with the Ethereum-based ecosystem, by development activity. Directional indicators represent each project's ranking positioning since last month:➡️ 1) @metamask $mUSD 🥇➡️ 2) @starknet $STRK 🥈➡️ 3) @chainlink $LINK 🥉📈 4) @radworks_ $RAD📉 5) @safecoin $SAFE➡️ 6) @ethereum $ETH📉 7) @decentraland $MANA📈 8) @worldcoin $WLD📉 9) @ethstatus $SNT📉 10) @cartesiproject $CTSI📖 Read about the Santiment methodology for fil ...

CoinGape Announces Winners of Crypto Impact — Source: CoinGape CoinGape, on January 29, announced the winners of the long-awaited Crypto Impact Awards 2025. The CoinGape Awards recognised projects, companies, founders and communities that delivered measurable impact across Web3 during one of the industry’s most consequential years. The ceremony, having Binance CEO Rachel Cohen, YAP Global CEO Samantha Yap, Bitget Wallet CEO Elikeh among other distinguished jury panelists, saw the industry’s key faces bei ...

Group 1 - Ripple has secured full authorisation as an Electronic Money Institution (EMI) from Luxembourg's financial regulator, CSSF, after meeting all regulatory requirements [1] - The EU licence extends Ripple's regulatory footprint, adding to its existing EMI licence and Cryptoasset Registration from the UK's Financial Conduct Authority, bringing the total to over 75 licences globally [2] - The managing director for UK & Europe stated that the full EMI licence in the EU is a transformative milestone, enhancing Ripple's presence in European finance [2][3] Group 2 - Europe is a strategic priority for Ripple, and the new authorisation allows the company to scale its mission of providing compliant blockchain infrastructure to clients across the EU [3] - Ripple raised $500 million in November at a valuation of $40 billion, indicating strong investor confidence and regulatory progress [3][4] - The company has been active in acquisitions, agreeing to a $1 billion deal for GTreasury and a $200 million deal for Rail, enhancing its payment infrastructure [4][5]