It’s been a busy week in crypto. We are introducing Crypto.com Prime, designed for people building generational wealth. Two of the Bitcoin spot ETFs made it into the Top 10 exchange-traded funds in January. In the U.S., spot Bitcoin ETFs continue to go strong, while Ethereum ETFs are big in Europe. And, last but not least, happy birthday to Kabosu, the real-life Doge who just turned 18.
Let’s dive in.
🌟 Crypto.com Prime Goes Live
We are introducing Crypto.com Prime, our newest program designed for traders building generational wealth. Exclusive to high-net-worth traders, Prime offers an uncapped 1% deposit bonus, institutional-grade trading, bespoke inheritance and tax services, 24/7 dedicated support, and much more. Join the waitlist.
🎂 Doge Turns 18
Kabosu, the real-life Doge, just turned 18. The Shiba Inu lives in Chiba, Japan, and was the inspiration for the doge meme and subsequently Dogecoin (DOGE), to date one of the most successful meme coins. Happy Birthday, Kabosu!
💳 Visa to Introduce Crypto Payments
Visa has partnered with the Web3 infrastructure provider Transak to introduce cryptocurrency withdrawals and payments through the Visa Direct solution, the firms announced last week. The new integration allows users to withdraw cryptocurrencies like Bitcoin directly from a wallet like MetaMask to a Visa debit card.
🇭🇰 First HK Spot Bitcoin ETF Application
Venture Smart Financial Holdings Ltd. (VSFG), a Hong Kong-based financial services firm, is in the final phase of officially submitting its application for a spot Bitcoin ETF to the Hong Kong Securities and Futures Commission. VSFG is also preparing to apply for a spot Ethereum ETF.
🇪🇺 ETH ETFs Big in Europe
Ethereum ETFs have reached US$5.7 billion in assets under management (AUM), with Europe holding an 81% majority stake. The market is dominated by Ethereum futures ETFs, with XBT Ethereum Tracker One (COINETH) in the lead with assets amounting to almost US$3.5 billion.
Crypto Catalyst Calendar
Chart of the Week
Last month, BlackRock’s and Fidelity’s spot Bitcoin exchange-traded funds (ETFs) made it into the top 10 ETFs across all asset classes with the largest net inflows. The two Bitcoin ETFs totaled US$5.1 billion in net inflow in January.
Latest in Research
Monthly Feature Article | Crypto ETFs
Crypto ETFs are exchange-traded investment funds that track the price performance of one or more cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH). They offer several benefits similar to traditional ETFs, including better accessibility, transparency, and cost-efficiency for investors.
- Currently, there are different types of crypto ETFs offered in the market, namely spot crypto ETFs, futures-based crypto ETFs, and crypto industry ETFs.
- Spot crypto ETFs, also known as physical ETFs, directly invest in cryptocurrencies and securitize them. By issuing and redeeming shares, spot crypto ETFs provide increased liquidity in the cryptocurrency market.
- The strategy of all the current spot BTC ETFs is to long Bitcoin and short USD.
- ETFs offer benefits, but still come with drawbacks, including higher management fees, potentially lower liquidity than directly holding crypto, price tracking errors, and limited trading hours.
- The recent approval of spot Bitcoin ETFs has been referred to as a ‘watershed’ moment for the industry, offering an estimated US$38.6 billion inflows into Bitcoin ETFs by the first three years.
Get the full scope on how Crypto ETFs work.
Dive into the dynamic world of Ballies with the exclusive release of ‘Legends Packs’ — a game-changing collection of 500 Mystery Boxes poised to elevate your gameplay — dropping on Monday, February 12. Created by digital artist Keivo, Ballies Origins are a set of 9,999 completely unique basketball characters algorithmically generated from over 170 hand-drawn traits.
Drawing inspiration from the electric energy of a packed arena, each of the ‘Legends Packs’ is a treasure trove of potential, brimming with special cards, energy boosters, and coins.
With these packs, command the court, out-maneuver opponents, and strategize your way to victory. This drop features various in-game utility items.
🧧 Celebrate Lunar New Year With Crypto.com Pay and Win Exclusive Merch
This Lunar New Year, you can win exclusive Crypto.com merchandise by sending good fortune to friends and family! Simply send an eRed Packet to your loved ones and stand a chance to win up to US$1,000 worth of swag. Find out more here.
SEI is Available for On-Chain Staking
SEI is now available for on-chain Staking in the Crypto.com App and on the Crypto.com Exchange. You can receive rewards of up to 3%, as often as three times a week, while securing the blockchains you love. Find out how to get started here.
Crypto.com App New Token Listings
Dymension is a decentralized Layer-1 modular blockchain built on the Cosmos SDK that allows for easy and quick deployment of app-chains, called RollApps. It is custom built to provide RollApps with security, interoperability, and liquidity. DYM is Dymension’s governance token, which enables members to pay fees and participate in platform governing through voting.
Heroes of Mavia (MAVIA)
Heroes of Mavia is a Web3 Massively Multiplayer Online (MMO) mobile game developed by Skrice Studios. It is built on the Ethereum blockchain and utilizes a Layer-2 blockchain, Arbitrum, as a scaling solution. Players get to build bases on plots of land and challenge other players’ armies to earn in-game resources such as gold, oil, and ruby.
Crypto Level Up
What Is Big Data? And How It Might Change With Web3
Big data refers to datasets that cannot be easily handled by traditional data processing tools. These complex and vast datasets include, for example, healthcare data of patients, e-commerce browsing history of consumers, and data points of social media users. Here’s how Web3 will impact big data:
Instead of being stored on centralized databases, big data in the Web3 era could be distributed across networks of nodes, enhancing security and boosting transparency for individuals.
Datasets from different sources can be integrated between platforms and services. This is what Web3 envisions, fostering a more connected and collaborative digital world in which end users have more of a say.
Find out more about big data and its impact with Web3.
Happy indeed, @CocoMia2022 — the Crypto.com Icy White Visa Card smiles brightly along with that delightful dish of delish.
Hashtag #CryptoIRL with your Crypto.com Visa Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Layer-0 is a root layer that allows for cross-chain interoperability between Layer-1 protocols. In other words, it functions as a connecting layer for different blockchains.
Layer-0 offers strong use cases in scalability, including individual reward structures, data validation, and digital currency wrapping. With Layer-0, operators can deploy networks quickly and across several nodes without needing to directly communicate with the underlying protocols of each individual blockchain.
SlowMist Releases 2023 Security Report
Blockchain security firm SlowMist released its 2023 Blockchain Security and Anti-Money Laundering Annual Report in late January 2024. In its report, the company highlighted that rug pulls (AKA exit scams) and account breaches were the leading causes of security incidents last year.
Here’s how to shield yourself from rug pulls and protect your accounts:
Scrutinize the Project
If the white paper and roadmap of a blockchain project you’re eyeing leave you with more questions than answers, it’s a warning sign. Ditto for how its tokens are allocated. If its top 5-10 wallets hold 15%-30% of the total supply, stay away from it.
Ensure the Project’s Team Can Be Identified
Although Bitcoin was created by an anonymous developer, the leading blockchain projects of today have teams whose leaders you can identify. If a blockchain project’s leadership and/or development team are all undoxxed, something is amiss.
Enable Multi-Factor Authentication
Having a strong and unique password is crucial to securing your account, whether it’s for a cryptocurrency exchange or NFT marketplace. To strengthen this, implement multi-factor authentication. It requires you to verify your login at least once more, whether through a PIN number or biometrics.
That’s it for this week’s Snapshot. Want more? Find out what’s trending in the crypto world.