Injective Launches Ecosystem Fund and BlockFi Leaks Financials
After a bit of a correction last night, crypto markets remain largely flat on the day. BTC is down 0.29% and ETH is down 0.72%. Traditional markets have pulled back a bit as well, with SPX down 1.34% and NDQ down 1.88%. An interesting development we’ve seen over the past couple of weeks is a 12.4% pullback in the ETH/BTC ratio. This could potentially be due to investors positioning into Bitcoin before the BTC halving, which is set to occur in 2024, and investors selling Ethereum ahead of its Shanghai upgrade in March, which will bring unstaked Ethereum to the market as potential selling pressure. The top performers today are APT -1.82% (up 30%) and OP -2.24% (up 11.72%), which continue their impressive moves off the lows (Aptos is up 418%, and Optimism is up 250% in the past couple of months).
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