Preface
Bitcoin and Ethereum fell by 7.74% and 12.23% respectively over the past 24 hours, currently priced at $89,004 and $2,382, with an ETH/BTC ratio of 0.027. The Crypto Fear & Greed Index stands at 25, indicating extreme fear.

Market Trending

The market plummeted yesterday following Bitcoin’s failure to breach the $100,000 psychological barrier over the weekend. A fierce battle between bulls and bulls ensued around the $96,000 level. Former President Trump’s tariff policy announcement triggered a sharp sell-off, with Bitcoin plunging to a low of $88,974. The total crypto market cap dropped below $3.1 trillion, marking an 8.2% decline in 24 hours. Market sentiment shifted abruptly from “neutral” to “extreme fear,” aligning with the downturn in major U.S. stock indices. Investors should note that Trump’s tariff strategy may trigger broader market corrections. However, Bitcoin, with its paradoxical dominance, could emerge as a safe-haven asset, potentially signaling an imminent reversal.

Altcoins suffered widespread losses exceeding 10%. Among DeFi tokens, UNI fell below the $8 mark, AAVE dropped over 15%, nearing $200, RAY crashed 25% due to concerns over Pump.fun’s upcoming decentralized exchange launch. Meme coins also slumped: DOGE dipped to $0.2, TRUMP slid below $14, VVAIFU, AIXBT, and CLANKER plummeted over 20%.

Spot Bitcoin ETF Flows

The U.S. Bitcoin spot ETF saw a net outflow of $63.99 million yesterday, with FBTC experiencing a net outflow of $48.39 million, and ARKB seeing a net outflow of $8.65 million.
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Daily Spotlight

Today’s spotlight is KAITO, which saw a 15.1% rise in the last 24 hours.
Kaito is a crypto-native hub for information, attention, and capital distribution, serving as an interoperable InfoFi layer that connects creators, users, and brands. By aggregating data from social media, governance forums, research, news, podcasts, and conferences, Kaito Pro combines proprietary search algorithms, semantic LLM capabilities, and real-time analytics to deliver actionable crypto insights. Kaito Yaps leverages AI to quantify attention through social graph and semantic analysis. Kaito Connect, an AI-powered InfoFi network, aims to create a fairer, transparent market for attention and capital allocation while rewarding participants.
Current price: $1.6853.
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The Word on the Street

BlackRock remains silent on Solana ETF plans
Despite growing interest in Solana ETFs, BlackRock (AUM: $11.6 trillion) has yet to file an application. Its iShares unit manages the largest crypto ETFs: the iShares Bitcoin Trust ($55.4B) and iShares Ethereum Trust ($3.7B). When asked about a potential Solana ETF, Rachel Aguirre, Head of U.S. iShares Product at BlackRock, emphasized three criteria: Client demand, Investment rationale and Regulatory viability.
Competitors like Franklin Templeton, Bitwise, Grayscale, and 21Shares have already submitted Solana ETF applications. Bloomberg analysts estimate a 70% chance of SEC approval.

Project Funding

Ethena raises $100 million for institutional stablecoin push
Per Bloomberg, Ethena secured $100 million in a December 2023 funding round led by Franklin Templeton and F-Prime Capital (Fidelity Investments’ VC arm). The project plans to launch a new stablecoin targeting traditional financial institutions.