Overview

Bitcoin continues to decline in volatility; according to Fox reporter Eleanor Terrett, citing three sources, Trump has chosen Brian Quintenz (currently head of a16z Crypto policy and former CFTC commissioner) to serve as the permanent chairman of the CFTC. While no official statement has been released from the White House, CFTC officials have confirmed this nominee.

Daily Macro

• Bitcoin Market: Bitcoin continues its volatile decline, while altcoins show mediocre performance.

• Bitcoin ETF: Yesterday saw a net outflow of $56.77 million.

• Ethereum ETF: Yesterday saw a net inflow of $12.6 million.

• Macro Economic Data: Tonight, the Federal Reserve will release the U.S. January CPI (unadjusted year-over-year), with the prior reading at 2.9% and the forecasted value also at 2.9%. This will set the pace for interest rate adjustments this year.

Daily Focus

SOL

• Reason for Attention: FTX/Alameda conducted their monthly SOL redemption transfer 6 hours ago: 184,162 SOL (approx. $37.73 million) were redeemed from staking and distributed to 23 addresses. Since November 2023, FTX/Alameda’s staking address has redeemed and transferred a total of 4.629 million SOL (approx. $554.61 million) at an average transfer price of $116.2. The majority of these SOL have been transferred to Coinbase or Binance.

• Token Performance (24H):

• SOL: +2%

• Market Analysis: Currently, FTX/Alameda’s staking address still holds 6.338 million SOL (approx. $1.25 billion) staked.

Next Focus

PI

• Reason for Attention: Pi Network announced that its Open Network will officially launch on February 20, 2025. This will expand the available opportunities for users to connect Pi to external systems and apply it to real-world scenarios.

• How to Participate: Pi has been a popular project for years. Users who have previously interacted can claim tokens through the app.

CoinEx Daily: Bitcoin Declines in Volatility; a16z Crypto Head Appointed CFTC Chairman