Welcome to the latest issue of Datawallet Daily. Here’s your concise roundup of the most crucial cryptocurrency stories over the past day:
- Franklin Templeton Files For Ethereum ETF
- Bitcoin Falls $1.6K as CPI Data Reduces Hopes for Fed Rate Cut
- Puffer Finance Hits $850M TVL, Second in Liquid Restaking
- Airdrop Excitement Drives Starknet Deposits to $56M ATH
Franklin Templeton Files For Ethereum ETF
Franklin Templeton has entered the competition to launch a spot Ethereum ETF, following its less successful Bitcoin ETF venture compared to leaders like BlackRock and Fidelity. The application to the SEC joins a crowded field with major firms like Ark, Grayscale, and others also vying for approval.
Despite the SEC’s hesitation on Ethereum ETFs, the move signifies Franklin Templeton’s increasing engagement with the crypto space, showcasing a shift from its traditional image. This step comes as Ethereum’s price sees a notable rise, indicating a growing interest in broader cryptocurrency investments beyond Bitcoin.
Bitcoin Falls $1.6K as CPI Data Reduces Hopes for Fed Rate Cut
Bitcoin experienced a significant drop of $1.6K to $48,435 as unexpectedly high U.S. inflation data dampened hopes for a near-term Federal Reserve rate cut. The January Consumer Price Index exceeded predictions, rising 0.3% month-on-month and 3.1% year-on-year, intensifying concerns over inflation.
This shift in economic outlook led to a reassessment of the likelihood of a Fed rate cut, now anticipated later than March. Despite a positive trend in Bitcoin ETF inflows, the market’s reaction was largely negative, underscoring the influence of macroeconomic factors on cryptocurrency valuations.
Puffer Finance Hits $850M TVL, Second in Liquid Restaking
Puffer Finance has rapidly ascended to become the second-largest liquid restaking protocol on Ethereum, with $850 million in TVL since its launch on February 1. The protocol offers users the ability to deposit Ethereum and receive a liquid staking token, enabling yield generation through ETH staking and restaking.
The notable surge in TVL, partly spurred by a points program to incentivize engagement, positions Puffer Finance just behind the market leader, ether.fi. Additionally, Puffer’s introduction of an anti-slashing tool may contribute to its growing adoption, alongside significant backing from investors like Binance Labs and a successful fundraising history.
Airdrop Excitement Drives Starknet Deposits to $56M ATH
The anticipation of the STRK token airdrop by the Starknet Foundation has propelled Starknet’s deposits to a record $56 million, highlighting the significant impact of airdrop speculation on asset accumulation. Starknet, an Ethereum layer 2 network renowned for its cost-effective transactions through zero-knowledge proofs, is witnessing a surge in metrics as the community eagerly awaits the airdrop details.
This excitement has also led to increased activity on Starknet-based protocols like Nostra and Ekubo, further driving the network’s total trading volume. Amidst the growing trend of airdrops in the crypto market, Starknet’s upcoming STRK distribution is poised to further fuel interest and adoption of the layer 2 solution.
Other breaking news
- Binance Founder CZ’s Sentencing Delayed to Late April
- Thiel’s Founders Fund Made $200M Bitcoin-Ether Investment in 2023
- Solana’s 2nd Phone Tops 100K Presales, Raises $45M
- L2s Finalize New Rollup Standard for Mainstream Tech Compatibility
- Analog Raises Token Round at $120M Valuation
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