On Tuesday, $BTC exchange-traded funds saw a positive net flow of over $631 million. On the previous day, ETF inflows hovered around $493 million. The positive inflow coincided with Bitcoin’s reclaiming of the $50k threshold. The research team at the BitMEX exchange has called attention to the considerable amount of funds that flowed into Bitcoin exchange-traded funds (ETFs) yesterday as Bitcoin reclaimed the $50k threshold. In a post on X, #BitMEX Research noted that February 13 saw a positive net flow of $631 million to BTC-based investment vehicles across all ETF issuers. Among the U.S.-listed ETFs, #BlackRockIBIT experienced the most significant influx. Specifically, BlackRock recorded over $493 million on Tuesday, followed by Fidelity at $163.6 million. Similarly, Bitwise Bitcoin ETF witnessed an inflow of $10.8 million, and Ark Invest recorded $35 million. However, other funds, such as Invesco, Franklin, Valkyrie, and VanEck, registered zero inflow. Concurrently, #Grayscale experienced a significant negative growth of $72.8 million. Overall, the net influx of $631 million into Bitcoin-based investment vehicles on Tuesday reflects a 21% growth from the $493.3 million figure recorded on Monday. Notably, in BTC figures, the disclosure suggested that the spot exchanged traded funds consumed 12,735 Bitcoin tokens. This uptrend coincided with Bitcoin cracking the $50k range yesterday, with the asset trading at $51,254 at press time. Meanwhile, a separate report by crypto asset manager #CoinShares outlined the weekly movement of funds through cryptocurrency-based investment products. The report revealed inflows of $1.115.9 billion over the past week. CoinShares mentioned that the figure contributed to year-to-date inflows amounting to $2.7 billion. Significantly, Bitcoin accounted for nearly 98% of the inflows, totaling $1.089 billion, according to CoinShares. Additionally, minor inflows were observed in Avalanche $AVAX, Polygon $MATIC, and Tron $TRX, which collectively recorded approximately $1.3 million.
#SUSHI to launch #Susa — a decentralized derivatives platform on Layer N
Sushi is set to launch Susa, a decentralized derivatives platform on Layer N, an Ethereum Layer 2 solution aiming for high-speed transactions.
Layer N will support the development of applications, from smart contracts to rollups, through its Nord Engine, promising transaction speeds of under one millisecond.
“Sushi is excited to partner with Layer N,” said Jared Grey, Sushi’s Head Chef, emphasizing the partnership’s alignment with the decentralized finance (DeFi) spirit and Layer N’s capability for “greater capital efficiency and deeper liquidity” thanks to its modular rollup approach, leveraging Ethereum’s security.
Layer N, described as an “Ethereum StateNet,” is a network facilitating shared communication and liquidity among rollup nodes. It is preparing for a mainnet launch this month, having achieved 20,000 transactions per second (TPS) in tests, with a peak of 120,000 TPS. The project has attracted significant investment, including $5 million in seed funding in September 2023, co-led by Founder’s Fund, established by Peter Thiel.
The Starknet Foundation team announced an airdrop on Feb. 20, 2024.
According to the project, the distribution of native #STRK tokens will be carried out among 1.3 million users. In total, 700 million STRK were allocated for the airdrop, which is 7% of the total supply of 10 billion.
The reward can be received by those who made five or more transactions over three or more separate months totaling at least $100 and had 0.005 Ethereum (ETH) or more in their wallet before Nov. 15, 2023.
In addition, ECMP program participants, Starknet developers, StarkEx users, Ethereum developers, EIP authors, Ethereum stakes, Ethereum Protocol Guild members, and GitHub developers are eligible for the airdrop. Users can claim their rights to tokens until June 20, 2024.
In early December 2023, the Starknet team announced the plan to distribute 1.8 billion STRK among the project’s two ecosystem committees. Part of the funds will be used for the initial distribution, and the second half will be used to form a revolving fund. 900 million STRK will be allocated as return funds for community members. To distribute these tokens, the Starknet Foundation will create a special committee to reward users for “vital transactions on the network.”