What to know:

Crypto Daybook Americas serves as your essential morning briefing on the overnight happenings in the cryptocurrency markets as well as forecasts for the day ahead. If you’re not subscribed yet, ensure you receive this compilation by clicking here.

The cryptocurrency market is making efforts to stabilize following a recent downturn, with key on-chain metrics indicating potential capitulation in Bitcoin prices. Notably, some assets like MakerDAO’s MKR have surged by over 20% in the last 24 hours due to a successful buyback and burn initiative.

In addition, the native token IP from Story Protocol has appreciated by nearly 40%, benefiting from recent listings on South Korean exchanges.

Among other highlights, notable tokens such as Celestia’s TIA and XRP are attracting attention, with whales reportedly purchasing dips in certain tokens. Matthew Hougan of Bitwise Asset Management remarked, “The current market transition from the meme coin bubble might shift focus to more stable sectors like stablecoins and decentralized finance, but until these sectors gain traction, the market may face challenges.”

Looking at macroeconomic indicators, the U.S. consumer confidence index fell to an eight-month low, with President Trump’s tariffs identified as a growing concern.

Upcoming Events:

• Crypto:

  • Feb. 26, 8:30 a.m.: Cosmos (ATOM) network upgrade (to version v22.2.0).
  • Feb. 26: RedStone (RED) farming starts on Binance Launchpool.

• Macro:

  • Feb. 27, 8:30 a.m.: U.S. Department of Labor releases the Unemployment Insurance Weekly Claims report.

Stay vigilant for the Senate Banking Committee’s upcoming hearing led by Cynthia Lummis focusing on regulations for the cryptocurrency space.