Starknet Foundation Announces Airdrop Details, Taurus and Lido Partner for Institutional Liquid Staking
Market Update
- After yesterday’s sell-off following January CPI data, U.S. equity indices are rebounding, with both the SPY and QQQ rising approximately 0.40%.BTC showed resilience yesterday and continues to demonstrate strength today, surging 4% and briefly eclipsing the $52k mark. ETH (+3.96%) is showing similar gains, rising above $2,750, the highest level since May 2022. Robinhood, a stock and crypto trading platform, beat earnings expectations yesterday, largely due to 10% year-over-year growth in crypto-based revenues. Coinbase announces earnings tomorrow, and Robinhood’s results present an encouraging sign for tomorrow’s results.
- The Starknet Foundation announced the Provisions (airdrop) allocations for the native token of its layer-2 ZK-rollup network, with about 1.3 million eligible wallets. The STRK token will be used for governance and to pay network fees, with later plans to enable staking within a proof-of-stake model. The total supply to be airdropped is 700 million STRK tokens, equivalent to 7% of the total supply. An additional 200 million tokens have been set aside for the Provisions plan, and the Starknet Foundation additionally plans to allocate 18% of the total supply to the community over time. The eligibility snapshot occurred in November, and the Starknet Foundation wanted to reward users who helped develop, test, and engage with the Starknet network. The largest allocation was to Starknet users, totaling 50.89% of the total distribution to over 500k eligible wallets. The second largest allocation was for ETH stakers who will receive 21.80%. The distribution will go live on February 20th, after which users will have four months to claim.
Source: Starknet Foundation
- Taurus, a Swiss crypto custodian, has announced a strategic partnership with liquid staking protocol Lido to bring liquid staking access to financial institutions in Switzerland. Taurus is a highly regulated and leading digital infrastructure provider in Europe and Switzerland specifically. Over half of the Swiss banks who offer digital asset services rely on Taurus’ infrastructure. Due to increased client demand, Taurus has been working with Lido to provide its clients access to Ethereum liquid staking, allowing them to earn yield on their holdings while using stETH within DeFi. The strategic partnership serves as a bridge between traditional finance and DeFi, reducing barriers to entry and creating a new institutional on-ramp. It’s an encouraging development that we hope U.S. regulatory bodies take notice of.
Daily Technical Strategy
Mark L. Newton, CMT
Head of Technical Strategy
Due to a personal matter, Mark Newton will be temporarily unable to publish Daily Technical Analysis. Additional information is not available at this time, but we will provide updates as soon as this changes.
Daily Important Metrics
All metrics as of February 14, 2024 12:12 PM
All Funding rates are in bps
Crypto Prices
Symbol | Market Cap | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
BTC | $1.02T | $51,717 | ↑ 6.74% | ↑ 22% | |
ETH | $330B | $2,747 | ↑ 5.68% | ↑ 21% | ↓ -1.74% |
SOL | $51B | $117 | ↑ 7.40% | ↑ 15% | ↓ -7.91% |
ADA | $20B | $0.5713 | ↑ 6.36% | ↓ -3.61% | ↓ -26% |
DOGE | $12B | $0.0857 | ↑ 6.61% | ↓ -3.70% | ↓ -26% |
LINK | $12B | $20.06 | ↑ 1.87% | ↑ 34% | ↑ 12% |
DOT | $9.9B | $7.55 | ↑ 5.25% | ↓ -6.88% | ↓ -29% |
MATIC | $8.4B | $0.8765 | ↑ 2.25% | ↓ -8.72% | ↓ -31% |
NEAR | $3.4B | $3.30 | ↑ 2.99% | ↓ -8.20% | ↓ -31% |
Exchange Traded Products (ETPs)
Symbol | Premium to Nav | Last Price | Daily Change | Year to Date | Relative to BTC YTD |
GBTC | ↓ -0.63% | $37.25 | ↑ 4.78% | ↑ 1.09% | ↓ -21% |
BITW | ↓ -42% | $24.10 | ↑ 3.88% | ↓ -1.87% | ↓ -24% |
ETHE | ↓ -16% | $19.73 | ↑ 4.50% | ↑ 1.39% | ↓ -21% |
BTCC | ↓ -0.31% | $8.07 | ↑ 3.46% | ↓ -1.34% | ↓ -24% |
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CRYPTO INFRASTRUCTURE
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REGULATION
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