What to know:

You are reading the Crypto Daybook Americas, your morning briefing on overnight events in the crypto markets and expectations for the coming day. This update aims to replace the First Mover Americas newsletter starting this month.

Cardano’s ADA is seeing an uptick due to Grayscale’s recent spot ETF application, while Bitcoin (BTC) is mostly stagnant in an uninspired market ahead of Federal Reserve Chair Jerome Powell’s testimony to Congress.

Powell to address Congress this Tuesday regarding monetary policy, starting his report in the Senate and continuing in the House on Wednesday. His remarks are unlikely to foster a rally in BTC with expectations aimed at a cautious strategy on interest rates and inflation monitoring.

In Bloomberg’s findings reported by Lisa Abramowicz, inflation expectations for the next few years have climbed, pushed partly by Trump’s tariff policies. Furthermore, the CME’s FedWatch Tool reflects trader predictions for limits on interest cuts through the end of 2025.

However, if the Consumer Price Index (CPI) slated for release on Wednesday is lower than forecasted, it could trigger some market volatility.

Meanwhile, Japanese game developer Gumi plans to acquire 1 billion yen ($6.6 million) in Bitcoin, following similar efforts by Metaplanet, which reportedly saw a staggering increase of 4,800% in the stock price over the past year due to its own BTC purchases.

An ongoing discussion on social media concerns the revenue dynamics within Ethereum’s ecosystem, particularly regarding the disproportionate earnings of layer-2 products.

What to Watch

• Crypto

  • Feb. 13: Start of Kraken’s gradual delisting of stablecoins for EEA clients.
  • Feb. 14: Launch of the Dynamic TAO (DTAO) network upgrade.
  • Feb. 18: FTX Digital Markets to begin reimbursements for creditors.

• Macro

  • Feb. 11: Powell presents a report to the Senate on monetary policy.

Market Movements:

• BTC: $97,989.64 (+0.62%)
• ETH: $2,702.45 (+0.53%)

Stay connected for further updates!