CoinEx Daily: LIBRA Token Collapses, Community Protests

Overview

Over the weekend, the market remained quiet, with Bitcoin maintaining a sideways trend. The collapse of LIBRA token triggered a wave of community protests.

Daily Macro

Bitcoin Performance: Bitcoin remains range-bound around $97K.

Bitcoin ETF: Net inflow of $70.6M last Friday.

Ethereum ETF: Net inflow of $11.7M last Friday.

Macroeconomic Data: ECB Governing Council member Joachim Nagel, Federal Reserve Governor Michelle Bowman, and Philadelphia Fed President Patrick Harker are scheduled to speak today.

Daily Focus

LIBRA

Reason for Attention:

Argentine President Javier Milei's official account announced the launch of the meme token LIBRA and shared its contract address, causing a price surge. However, within about four hours, Milei deleted the post and claimed he was unaware of the LIBRA token, leading to a rapid price crash.

Token Performance: LIBRA: -33.5% (24h).

How to Participate:

The Argentine government has announced an investigation into all companies and individuals involved in LIBRA’s issuance. President Milei has requested the Anti-Corruption Office to intervene. Investors should remain cautious of such scam projects to avoid potential losses.

Next Focus

Fed

Reason for Attention:

Last week, both U.S. CPI and PPI inflation data exceeded market expectations, and Fed Chair Jerome Powell stated in his testimony that there is no rush to cut rates. This week, key economic data releases could impact market sentiment.

How to Participate:

Investors should closely monitor the release of the Fed's January FOMC meeting minutes and developments in the Russia-Ukraine peace talks, as these factors could significantly influence market trends.