💃 Happy HODLing! 🕺

Congrats to the HODLers. Bitcoin broke above 50,000 for the first time since December 28, 2021, as the $BTC.X stream on Stocktwits flew into a frenzy. Message volume was violent, and sentiment remains “Extremely Bullish.”

With today’s advance, ~91% of bitcoin holders are in the black, and spot bitcoin ETFs continue to see record inflows. BlackRock and Fidelity eat away at Grayscale’s market share, and ARK’s 21Shares bitcoin ETF became the 3rd new issue BTC ETF to eclipse $1B in assets under management. 

Here’s an ETF overview: 

Today’s Stocktwits Spotlight goes to HaumiCharts. He writes,

“​​We’ve seen the largest expansion of short-term highs in crypto markets since the new highs list peaked on the 8th December.”

Are new highs bearish? Share your thoughts with Louis here.

If you’d like to be featured in Stocktwits Crypto Spotlight, tag @StocktwitsCrypto as you share simple crypto charts and smart takes.

In less than 30 days, Solana Mobile secured 100,000 preorders for the “Chapter 2.” The company will proceed with development and likely ship in early 2025. 

The mobile phone space is fierce. One must compete with giants like Apple and Google, but a crypto-specific device is a niche that the giants have yet to test. 

Anatoly Yakovenko, Solana co-founder, is confident in its initiative. He commented, 

“It’s really tough to beat Apple and Google on camera and the other. That’s why we really care about the crypto-specific features. We are trying to build something that you can’t get on another device.”

The “Founder Window” and preorder price of $450 will remain open until February 14th. 

Learn more here. 

Ethereum’s latest and greatest token, ERC-404, has swept the network. The experimental token is both fungible and non-fungible, combining the properties of ERC-20 and ERC-721. Users may buy the token on a decentralized exchange (DEX) or on an NFT marketplace. 

With the popularity of ERC-404, Ethereum’s 7-day on-chain volume has increased 15% since the first of the month and sent gas fees to multi-month highs. 

Last Friday alone, the network received 854 ETH (~$2,123,898) in gas fees. 

Users are keeping an eye on gas fees, as they may need to consider cheaper alternatives.

The importance of crypto and decentralized currencies may be difficult for Americans to understand. But in countries experiencing hyperinflation like Argentina, where inflation rates exceeded 200% in 2023, crypto may be the only safe haven. 

In the last 6 months, Argentina had the largest purchases and holdings of stablecoins in Latin America. 60% of Argentine crypto purchases on Mexican-based crypto exchange, Bitso were for US dollar-based stablecoins, and 13% of buys were for bitcoin. 

The political landscape in the Latin American nation may play a pivotal role in the adoption of crypto as newly elected “arnarcho-capitalist” Javier Milei seeks to close the country’s central bank calling it “a scam.”

The crypto-verse is taking notice. Last week, crypto exchange OKX announced it launched its crypto exchange and web3 services in Argentina. 

Will Argentina lead the LatAm crypto revolution? Time will tell… 

EtherRocks are hot. This morning, EtherRock 46 was purchased for 200 ETH ($497,479).

Last night, EtherRock 74 sold for 180 ETH ($452,628).

The Rock collection’s floor rests at 239 ETH (~$593,915).

The “Pet Rock” inspired NFTs have received a lot of attention. Sotheby’s will host a sealed auction for EtherRock 28 on February 14th. The centralized auction house estimates the NFT will sell for $500,000 – $700,000. 

This isn’t Sotheby’s first foray into the decentralized space. In 2022, it shared “NFTs Break New Ground,” fleshing out how NFTs are here to stay.  

The question is… how much will EtherRock 28 yield at auction? Place your bets…