Good morning crypto insiders, in this article we present a summary of the most important events in the crypto world that took place last night.
This way you can quickly find out about the latest developments. More detailed articles on these topics will appear on Crypto Insiders later today.
Bitcoin’s biggest monthly candle ever
The month of February ended yesterday and it was a memorable month for Bitcoin (BTC).
Bitcoin price rose an impressive 43.55 percent last month. This is the highest monthly increase since December 2020.
In absolute terms, Bitcoin’s increase in value will go down in history. The price has increased over the last month $19,840 Rose, the largest monthly candle ever. Bitcoin has increased its market capitalization by a total of $390 billion.
Eye-catching Bitcoin ETF numbers
Grayscale’s Bitcoin spot exchange-traded ETF (ETF), GBTC, had its second-worst day yesterday with net outflows of $598.9 million. This emerges from data from Farside Investors.
It wasn’t until January 22nd that more money flowed out of the fund. On that day, net outflows were $640.5 million.
A net inflow of $92.3 million was observed for all funds combined. BlackRock gained a lot of ground, recording its largest net inflow since its launch on January 11th. A total of $603.9 million went to BlackRock’s fund.
Combined trading volume also reached $4.7 billion yesterday, the second highest since launch. The record of $7.6 billion was set last Wednesday.
The Ethereum scaling network has been launched
The mainnet of Blast, a Layer 2 network on Ethereum (ETH) created by the founder of the Blur NFT marketplace, launched yesterday afternoon.
As a result, $2.3 billion worth of cryptocurrencies that users had locked to earn staking and airdrop rewards were released.
According to an on-chain data dashboard from analytics firm Arkham Intelligence, the total amount of Blast funds has fallen below $800 million at the time of writing.
Just like Arbitrum (ARB) and Optimism (OP), Blast is a so-called optimistic rollup. Users can earn up to 5 percent annual returns by holding Ether and stablecoins on the network.