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## Crypto Daily Digest: Blue Whale Holds Over 12,000 ETHs, NVIDIA's Financial Report Triggers a Strong rebound in AI tokens
First, let's look at yesterday's selling pressure in grayscale. According to Arkham's monitoring, at 22:11 Beijing time on February 21, grayscale transferred 3164.672 BTCs, valued at approximately $161 million, to the Coinbase Prime address. In addition, grayscale will transfer 1674.8 bitcoins to two new addresses, which are suspected to be the new hosting addresses of grayscale.

On February 21st, the Grayscale <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> spot ETF GBTC had a net outflow of approximately $199 million. According to Farside Investors monitoring, ARK 21Shares had a net inflow of $10.7 million in ARKB funds, and Franklin's EZBC had a net inflow of $3 million. According to SoSoValue data, on February 20, Eastern Time, Bitcoin spot ETFs had a total net inflow of $135 million, achieving net inflows for 17 consecutive trading days.

Yesterday, Grayscale ETFGBTC had a net daily outflow of $137 million. The Bitcoin spot ETF with the highest daily net inflow yesterday was Black Rock ETFIBIT, with a daily net inflow of $154 million. Currently, IBIT's total historical net inflow has reached $5.52 billion. It is reported that IBIT holds 122,643.5176 BTCs, and its Bitcoin holdings have a market value of over $6.3 billion.

Next is Fidelity ETF - FBTC, with a daily net inflow of approximately $71.74 million. Currently, FBTC's total historical net inflow has reached $3.84 billion. As of the publication, the total net asset value of Bitcoin spot ETFs was $37.93 billion, and the net asset ratio of ETFs (market value compared to the total market value of Bitcoin) reached 3.72%. The cumulative net inflow in history has reached $5.18 billion.

According to an update released by 21Shares on the X platform, its spot Bitcoin ETF (ARKB) generated $10,717,400 in net new assets (NNA) today, with a total trading volume of $1,381,979,460 in the past 10 days, making it one of the best-performing spot Bitcoin ETFs in February 2024.

It is reported that each Pudgy toy comes with a QR code, which can be used to access the multiplayer digital social platform Pudgy World, where users can build their own "Forever Pudgy" characters, play mini-games, and interact with other users. Pudgy World is based on the <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> Layer2 network zkSync Era and is currently in public beta mode.

In terms of the token market, according to Gate.io market data, counterfeit coins have recently seen a general decline following the market trend. Previously, strong cryptocurrencies such as OP with high market value have experienced a 24-hour decline of over 10%. Among them, OP is currently quoted at $3.62, a 24-hour decline of 11.98%; NEAR is currently quoting $3.11, a decrease of 8.98% within 24 hours; AVAX is currently quoting $36.44, a decrease of 6.68% within 24 hours; SOL is currently quoting $101.71, a decrease of 6.69% within 24 hours.

On February 21, according to @ai_9684xtpa monitoring, in the past 20 minutes, a giant whale purchased 12,738 ETHs (worth $36.9 million) through <a href="/price/1inch-1inch" target="_blank" class="blog_inner_link">1inch</a> and Binance, with an average purchase price of $2897. Currently, the giant whale holds 106,159 ETHs, valued at $308 million.

Nvidia's financial report was released, which was highly anticipated by the global capital market yesterday. According to Decrypt, NVIDIA's recent financial report showed that its fourth-quarter revenue reached $22.1 billion, a year-on-year increase of 265%, far exceeding market expectations. Q4 net profit was $12.285 billion, higher than market expectations of $10.34 billion.

This growth is mainly due to the rapid development of artificial intelligence technology, especially in accelerated computing and generative AI. NVIDIA's stock price rose 8% in post-market trading, indicating optimistic market expectations for the future development of artificial intelligence technology. NVIDIA founder and CEO Huang Renxun stated that the AI industry had reached a "tipping point."

After NVIDIA released its financial report, AI tokens skyrocketed. SingularityNet (AGIX) rose by over 20%, FetchAI (FET) rose by over 10%, <a href="/price/render-rndr" target="_blank" class="blog_inner_link">Render</a> rose by over 10%, RNDR rose by 8%, and WLD rose by over 18%. According to CoinGecko data, the overall market value of AI tokens has exceeded $16.5 billion.

In terms of the NFT market, the two leading NFT projects have recently attracted high attention from the market.

On February 22, according to Blur data, the NFT project BoredApeYachtClub (BAYC) floor price increased by 5.30% in a single day, and is now quoted at 22.85 ETH. Earlier today, Greg Solano, co-founder of Yuga Labs, announced in a post that he will be re serving as the CEO of Yuga Labs, while a new company called "BAYC LLC" has been established as a subsidiary of Yuga and will be responsible for all BAYC related affairs. In the future, Greg hopes to liberate Yuga's BAYC team as much as possible, enable them to execute their vision, and make it more focused and flexible.

In addition, Fat Penguin is coming aggressively. Since the floor price has surpassed BAYC, there have been new moves. According to media reports, Walmart, the world's largest retailer, has expanded the supply scope of Pudgy Toys (NFT series Pudgy Penguins toy series) to 1,100 stores in the United States, bringing the total number of stores nationwide to 3,100.

It is understood that Walmart has launched 30 new Pudgy toys, including Lil Pudgys Igloo collectibles and movable dolls, each priced between $2.99 and $11.97. Pudgy Toys debuted at Walmart last September, initially in 2,000 American stores.

## Macro: The Fed suppresses expectations of interest rate cuts, gold fell below the $2,020 threshold at one point
On Wednesday, the US dollar index fluctuated around the 104 level and ultimately closed down 0.073% at 103.99. After the announcement of the auction results of the US 20-year treasury bond bonds, the US bond yield rebounded, the benchmark 10-year US bond yield rose to 4.30% again, and the two-year US bond yield, which is most sensitive to the policy interest rate of the Federal Reserve, closed at 4.651%.

Due to the weakening of hopes for early interest rate cuts in the minutes of the Federal Reserve meeting, spot gold plummeted in the short term and fell below the 2020 level, ultimately closing up 0.08% at $2025.99 per ounce; Spot silver fell below the 23 mark and ultimately closed down 0.53% at $22.89 per ounce.

International crude oil rebounds as traders weigh signs of tightening supply in the crude oil spot market. WTI crude oil rose 1.1% to $77.98 per barrel; Brent crude oil rose 0.76% to $83.09 per barrel. In terms of natural gas, US natural gas futures surged 12% on the day.

The three major US stock indexes have mixed gains and losses, with the Dow Jones and S&P 500 closing slightly higher and the Nasdaq down 0.3%.

Last night, the Federal Reserve released the January FOMC monetary policy meeting. The minutes show that Federal Reserve officials believe that policy interest rates may have reached the peak of this cycle. Still, most officials are aware of the risk of a rate cut too fast, and some officials see the risk of inflation progress potentially stalling, with inflation forecasts slightly leaning upwards.

Some Fed officials suggest that slowing down the pace of balance sheet tightening can make the transition period smoother. They have noticed a decrease in the use of overnight reverse repos, and many officials have stated that it is appropriate to begin in-depth discussions on the balance sheet at the next meeting. Some policymakers suggest that slowing down the pace of scale reduction may allow for a longer duration of scale reduction.

Federal Reserve staff pointed out that the consensus on Wall Street is that the slowdown of QT will begin in July, although there is considerable uncertainty about the exact start date. The core of the debate is to what extent the Federal Reserve can shrink its balance sheet without causing chaos in financial markets or undermining its broader policy objectives. So far, since the start of QT in June 2022, its balance sheet has shrunk by approximately $1.3 trillion.

In addition, Federal Reserve Director Bauman stated that this is "definitely not" the time to cut interest rates, and the real estate market is not hindering the decision to cut rates. Richmond Fed Chairman Barkin also believes that January data should be balanced with information from that month due to seasonal issues, and companies are expected to raise prices.



<div class="blog-details-info">
<div>Author:**Byron B.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>


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Bitcoin spot ETFs have achieved net inflows for 17 consecutive trading days, with ARKB being the best-performing spot Bitcoin ETF in February.

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Daily News | BTC Has A 20% Chance of Exceeding $70K by the End of April; Daily Active Users of the World APP Exceeded 1 Million; Over $400M Worth of AVAX and Other Tokens Will Be Unlocked 