Canaan acquires a stake in three operating Texas mining facilities with 120 MW 
of power and 4.4 EH/s hashrate as it expands beyond hardware into 
infrastructure operations.

Canaan buys 49% stake in three Texas mining sites for $40M

XRP price is hovering near $1.30 as leverage on Binance hits cycle lows, 
putting focus on a potential breakout. XRP was trading at $1.33 at press time, 
down 1.2% over the past 24 hours. The token is hovering at the…

XRP price enters “dead zone” as Binance leverage resets to cycle lows — is a breakout brewing?

Nigerian President Bola Tinubu has launched a comprehensive regulatory regime 
for Nigeria’s digital asset market, headlined by the creation of the Virtual 
Asset Regulatory Council. A New Strategic Oversight Body Nigerian President 
Bola Tinubu has unveiled a sweeping new framework to regulate the country’s 
fast-growing digital asset market, establishing the Virtual Asset Regulatory 
Council (VARC). […]

Nigerian Leader Unveils New Regulatory Framework for Country’s Digital Asset Market

Terraform Labs’ bankruptcy administrator has filed a lawsuit in Manhattan 
accusing trading giant Jane Street of playing a key role in the 2022 collapse 
of Terra’s ecosystem. Terraform blames Jane Street insider trading for 
collapse The complaint alleges that Jane…

Terra Classic price prediction as Terraform Labs files lawsuit against Jane Street

On-chain data shows the Bitcoin short-term holders continue to capitulate as 
they are realizing net losses of $0.48 billion every day. Bitcoin Short-Term 
Holder Net Realized Profit/Loss Is Notably Red According to data from on-chain 
analytics firm Glassnode, the Net Realized Profit/Loss has been negative for 
the Bitcoin short-term holders recently. This indicator measures, as its name 
suggests, the net amount of profit or loss that BTC investors are harvesting 
through their selling. Related Reading: Another $438M In Crypto Longs Gone As 
Bitcoin, Altcoins Pull Back The version of the metric that&#8217;s of relevance here 
specifically tracks this for the short-term holders (STHs), a BTC investor 
cohort that includes only buyers from the last 155 days. Statistically, the 
longer an investor holds onto their coins, the less likely they become to sell 
them in the future. Since the STHs represent the new entrants into the market, 
their resilience tends to be low, and they may take part in panic selling 
during market volatility. Recently, Bitcoin has faced a major drawdown and the 
STHs have naturally reacted to it. Below is the chart shared by Glassnode that 
shows how the 7-day exponential moving average (EMA) of the Net Realized 
Profit/Loss has fluctuated for this group during the recent volatility. As is 
visible in the graph, the Bitcoin STH Net Realized Profit/Loss saw a deep 
plunge into the negative territory during the price downturn that followed the 
October high, implying realized losses notably outweighed the profits. In 
January, the metric recovered toward the neutral mark as the market saw an 
uplift, but the price drawdown since the end of the month has again taken the 
indicator to a highly red level. On February 6th, the STH Net Realized 
Profit/Loss fell to a value of -$1.24 billion per day, notably lower than the 
red peak observed last year. Since this low, the metric has risen a bit and 
today, it&#8217;s sitting at -$0.48 billion per day. &#8220;While the intensity has 
cooled, the broader regime still signals a market under pressure, with 
participants in the base formation phase continuing to capitulate,&#8221; explained 
the analytics firm. In some other news, the Bitcoin Coinbase Premium Gap has 
been negative recently, as highlighted by CryptoQuant author IT Tech in an X 
post. The Coinbase Premium Gap tracks the difference between the Bitcoin spot 
price listed on Coinbase (USD pair) and that on Binance (USDT pair). From the 
chart, it&#8217;s apparent that the metric has maintained at red values since mid- 
December, indicating that Coinbase users have been applying a higher amount of 
selling pressure than Binance traders. Related Reading: Bitcoin Extreme Fear 
Streak Extends To 22 Days As Price Struggles Coinbase is mainly used by US- 
based investors, especially the large institutional entities, so this trend 
can be a sign that there isn&#8217;t much demand for BTC among them right now. BTC 
Price Bitcoin has been slipping deeper as its price is now trading around 
$64,000. Featured image from Dall-E, chart from TradingView.com

Cryptocurrency price in USD