Crypto Brief – February 3rd 2021

News

A preliminary prospectus for a new bitcoin ETF has been filed with Canada's securities regulators.

Via @Tanzeel_Akhtar https://t.co/c3HcMNoV0n

— CoinDesk (@CoinDesk) February 3, 2021

According to Google Trends, the keyword search for “buy crypto” received a perfect score of 100 indicating maximum interest. Is BTC back on track for more ATHs?https://t.co/TvOfZweEBn

— Cointelegraph (@Cointelegraph) February 3, 2021

Coinbase, Binance are now in the top 1,000 most visited websites in the worldhttps://t.co/9l4893yg5q

— The Block (@TheBlock__) February 3, 2021

Visa announces crypto partnership with neobank focused on services for Black communitieshttps://t.co/WBwGtJIXw9

— The Block (@TheBlock__) February 3, 2021

Charts

Thanks to our friends @LunarCRUSH for sharing this with us – terrific animation demonstrating just how much the crypto market picked up in 2020. Wonder what January looks like… 🚀🚀🚀 pic.twitter.com/EN0fuV87C8

— Cointelegraph (@Cointelegraph) February 2, 2021

A staggering $325 million in transaction fees were paid on #Ethereum in January, almost doubling the amount of its previous record month (Sept 2020).

In comparison: #Bitcoin January fees were $114 million (2.8x difference).

Chart: https://t.co/ZW4uaQeoiq pic.twitter.com/Jszc5LOz9N

— glassnode (@glassnode) February 2, 2021

Despite the huge run up in price DOGE active addresses did not reach new all-time highs last week.

This suggests that most new buyers bought on centralized platforms like Robinhood rather than buying and holding in their own addresses.

Read more: https://t.co/nHHO936add pic.twitter.com/pQLFoYMqxy

— CoinMetrics.io (@coinmetrics) February 2, 2021

Binance now custodies nearly $10 billion of stablecoins. Makes you think pic.twitter.com/kNWbhDfZKV

— Larry Cermak (@lawmaster) February 3, 2021

We are currently seeing large inflows of $USDT worth hundreds of millions into exchanges.

Note that this is part of a swap of 2B USDt from TRC20 to #ERC20.

The total supply of Tethers will not change, as 2B TRC20 $USDt will be burned in the process.https://t.co/mNSkQtWOwP pic.twitter.com/crAHHFBfKr

— glassnode (@glassnode) February 3, 2021

Fundamental Analysis

Record high activity on Bitcoin in January🔥

January had the most active addresses in Bitcoin’s history. Over 22 million addresses were active, surpassing the ATH from December 2017.

Read more in our weekly report: https://t.co/Vov5yi5lWd

Data: @glassnode pic.twitter.com/XwJYoxwI2I

— Arcane Research (@ArcaneResearch) February 3, 2021