Crypto Morning Brief: Binance HODLer airdrop launches on Berachain, ETH circulation surpasses pre-Ethereum Merge levels
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Crypto Morning Brief: Binance HODLer airdrop launches on Berachain, ETH circulation surpasses pre-Ethereum Merge levels
Bitcoin has formed significant support in the $97,500–$99,000 range, with short-term holders' cost averaging around $92,000.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Berachain Airdrop Lookup Now Live
The Berachain Foundation announced on X that the Berachain airdrop lookup is now live. Tokens can be claimed starting February 6, 2025, via various EVM wallets including Metamask and OKX Wallet.
The BERA token has a total supply of 500 million, with initial allocations as follows: 16.8% to core contributors; 34.3% to investors; 15.8% to community airdrops; 13.1% to future community incentives; and 20% to ecosystem and R&D.
Glassnode: Bitcoin Forms Key Support Between $97.5K–$99K, Short-Term Holder Cost Basis Around $92K
According to Glassnode data, analysis using the Cost Basis Distribution (CBD) indicator shows Bitcoin found support at $97.5K on two occasions, primarily due to accumulation of over 200,000 BTC above this level. Additionally, investors with cost basis above $99K have accumulated more than 150,000 BTC.
The analysis indicates strong support between $97.5K and $99K, significantly above the short-term holder cost basis (~$92K). If prices fall below $97.5K, unrealized losses would sharply increase, potentially amplifying downside risks.
Binance HODLer Airdrop Launches Berachain (BERA)
According to an official announcement, Binance HODLer Airdrop has launched its 7th project, Berachain (BERA). Binance will list the BERA token on February 6 at 21:00 (UTC+8). The BERA token has an initial total supply of 500 million, with 10% annual inflation and no supply cap. The initial circulating supply at listing is 107.5 million, representing 21.50% of the total initial supply.
Binance will distribute 10 million BERA tokens (2% of initial supply) via airdrop to users who participated in the BNB Simple Earn product between January 22 and 26. Additionally, 5 million more BERA tokens will be gradually released for marketing activities within 12 months after listing. The maximum BNB staking ratio per user account is capped at 4%. Airdrop details will be published within 12 hours, and tokens will arrive at least one hour before trading begins.
Ondo Finance Launches Ondo Global Markets Platform, Bringing Stocks, Bonds, and ETFs On-Chain
According to CoinDesk, Ondo Finance, the world’s third-largest issuer of tokenized government bonds, launched a new platform called Ondo Global Markets (Ondo GM) on February 5, offering blockchain access for stocks, bonds, and ETFs.
The platform, with a market value exceeding $600 million, will allow the creation of transferable tokens linked to traditional financial assets, along with appropriate access and trading controls. Ondo Finance will host its first summit in New York on February 6 and has pledged to release major announcements leading up to the event.
ETH Circulating Supply Surpasses Pre-Merge Levels
According to Ultrasound.money data, ETH’s current circulating supply has exceeded pre-Ethereum PoS merge levels. Current ETH supply stands at 120,521,291, slightly higher than the 120,521,140.92 ETH at the time of the merge on September 15, 2022. Since Ethereum’s transition to proof-of-stake (PoS), 1,947,607.01 ETH have been burned while 1,947,757.18 ETH were newly issued, resulting in a net increase of 150.17 ETH in circulating supply.
Wintermute Founder Responds to "Market Manipulation" Allegations: We're Not a Charity, But Never Net Shorted Crypto
Wintermute founder and CEO Evgeny Gaevoy responded to community criticism regarding the firm's alleged price manipulation and retail exploitation.
Gaevoy stated that like all proprietary trading firms, Wintermute aims to profit from trading—it is not a charity. Since 2020, Wintermute’s venture arm has consistently invested in crypto and has never held a net short position. The company’s crypto exposure has always remained between 20% and 30% of its net worth.
He emphasized that Wintermute’s core operations in DeFi, CeFi, and OTC trading maintain delta-neutral risk profiles. Regarding token price declines, he attributed them primarily to macro conditions and supply-demand imbalances, not market manipulation.
Thailand Cuts Power to Border Areas to Disrupt Myanmar-Based Crypto Scam Centers
On February 5 at 9:00 AM local time (10:00 AM Beijing time), the Thai government cut off electricity, internet, and fuel supplies to areas along the Thai-Myanmar border to disrupt local cryptocurrency scam operations. The operation involved five service providers across three regions: Myawaddy, Payathonzu, and Tachilek.
Investigations revealed that the KK Park scam center in Myawaddy allegedly defrauded victims of $100 million worth of USDT through "pig-butchering" schemes. In 2023, Burmese authorities rescued 1,200 individuals held captive at the site. This power cutoff is seen as Thailand’s response to pressure from China, especially after reports emerged of Chinese nationals being victimized at these sites.
Thai Prime Minister Paetongtarn stated that such fraud severely damages Thailand’s international reputation and requires strict measures. While the blackout may affect local residents and hospitals, the Foreign Ministry said affected communities were notified in advance.
Raydium Spends Record $54M in January Buybacks, Acquiring 8.8M RAY Tokens
According to SolanaFloor, Raydium Protocol spent $54 million in January to repurchase 8.8 million RAY tokens through its automated buyback program, marking a new record for monthly buyback expenditure.
Market Overview
Suggested Reading
Altcoin Investment Guide: From 'Minefield Ruins' to 'Golden Veins'
This article discusses the cyclical nature of the altcoin market, analyzes reasons behind current market downturns and potential opportunities, compares development paths between centralized exchanges (CEX) and decentralized exchanges (DEX), and offers investment strategies and trend forecasts.
Understanding the Berachain Whitepaper: What Makes Its Dual-Token and PoL Mechanism So Special?
This article introduces Berachain’s Honeypaper whitepaper, focusing on its dual-token system (BERA and BGT) and unique Proof-of-Liquidity (PoL) consensus mechanism. It explores how Berachain’s innovative economic model addresses the blockchain trilemma and examines potential use cases in DeFi and real-world assets (RWAs).
The TRUMP Token Wave: How GMGN Helped 28,000 Users Earn $160 Million
GMGN is a data analytics and trading platform designed specifically for MEME coin traders. With precise analytical tools and efficient trading features, it helps users profit in the MEME coin market. Its success stems from innovative products tailored to user needs and a user-centric operational approach.
After the Crash: Will the Crypto Market Really Enter a 'Cooling-Off' Period?
Following a sharp market decline, the crypto market may enter a "cooling-off" phase. The article investigates causes of the crash and future trends, presenting views from two crypto KOLs: one highlights short-term trading opportunities and holding strategies, while the other analyzes fading catalysts and bearish sentiment in altcoin markets. It also shares investor experiences and outlooks on the future market.
Irrational Crypto Markets: Hype, Misinformation, and Overlooked Utility Value
This article examines irrational phenomena in today’s crypto markets, including hype, misinformation, and the neglect of practical utility. By analyzing multiple cases, it urges investors to focus on fundamentals and real-world applications rather than short-term fads, advocating for healthier industry development.
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