Crypto Brief – February 11th 2021

News

Treasury Secretary @JanetYellen said she sees the "promise" of cryptocurrencies, but they have still been used to finance terrorism.@nikhileshde reportshttps://t.co/HhwSMknHGo

— CoinDesk (@CoinDesk) February 11, 2021

Bitcoin jumps to record after Mastercard and Bank of New York Mellon move to make it easier for customers to use cryptocurrencies https://t.co/eUCtRJxku8 via @technology

— Bloomberg Crypto (@crypto) February 11, 2021

Bank of New York Mellon to custody bitcoin and other cryptocurrencieshttps://t.co/5y1ih2xQF7

— The Block (@TheBlock__) February 11, 2021

Mastercard says it will support 'select cryptocurrencies directly on our network' this year https://t.co/yxyLSuNrON

— The Block (@TheBlock__) February 10, 2021

Charts

The little guy keeps stacking sats.

Wallets holding at least 0.01 $BTC back into accumulation mode.

Love to see it. pic.twitter.com/dAJuJHPwii

— _Checkmate 🔑⚡🎟🌱checkonchain.com (@_Checkmatey_) February 11, 2021

Binance Smart Chain #BSC surpassed Ethereum in number of daily transactions. Pros / Cons:

✅ $BNB only 10% of $ETH market cap
✅ Cheaper
✅ DeFi made simple, convenient

❌ Smaller dev community. Some projects fork ETH first movers
❌ Potential for wash transactions by projects pic.twitter.com/M1Wpsfsax4

— Mira Christanto (@asiahodl) February 11, 2021

A total of $602m worth of bitcoin short positions got liquidated in the aftermath of the Tesla news.

Combined with the earlier short-squeeze driven by @ElonMusk's bitcoin tweet, a total of $1.2b shorts have been liquidated on Musk driven events.

Data: @bybt_com pic.twitter.com/Wj9UvV57It

— Arcane Research (@ArcaneResearch) February 11, 2021

Analysis

RBC analysts have suggested that @apple enable crypto buying/selling for its 1.5bn user base, and acquire ~$1bn of BTC for its balance sheet … hmmm … What do you think, should Apple do this? https://t.co/3yjrwDTyPh

— CoinDesk Research (@CoinDeskData) February 9, 2021

In its January report, @KaikoData shows that, although ETH spreads have widened recently in response to heightened volatility, on the whole they have been declining for the past year, indicating an improvement in market liquidity.https://t.co/HPiU5RuVfV pic.twitter.com/pjuUXV34Cb

— CoinDesk Research (@CoinDeskData) February 10, 2021

Some corporations view bitcoin as a treasury asset – an attempt to diversify and maximize return on cash. Is this a smart move?

You can track BTC purchases/filings here: https://t.co/55h9ML4ch9 – via @BTCtreasuries; @coinbase pic.twitter.com/VtgZqtG1ch

— CoinDesk Research (@CoinDeskData) February 11, 2021