BlackRock's IBIT ETF Hits $1.3B In Daily Volume

Stablecoin Market Now At $140B, Bitcoin Surges 11% To $57K & Shorts Lose $161M In Liquidation, Xai Launches Staking For Ether Games

Welcome to Coinfeeds Daily Digest! Bitcoin has brought an 11% surprise surge and short sellers got liquidated, losing $161 million. Meanwhile, BlackRock's IBIT Bitcoin ETF saw a record $1.3 billion in single-day transaction volume, and the stablecoin market hit $140 billion with USDC and USDT leading. In operational developments, Xai is unveiling a staking rewards incentive program for the Ethereum gaming ecosystem, leveraging Arbitrum's core features for transaction efficiency, and Hedera has integrated with Pyth Network, which is to bring users access to over 400 financial data feeds. In another surprise, crypto exchange BitForex went offline following a withdrawal of $57 million, where it’s still unclear whether the cause is a hack or a voluntary halt — the exchange had previously faced accusations of inflating trading volumes and been flagged for not having a license.

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BlackRock's Bitcoin ETF Hits $1.3B in a Day

In a remarkable turn of events, BlackRock's Bitcoin ETF has shattered records, achieving an unprecedented $1.3 billion in single-day trading volume. This milestone surpasses its previous high set during its debut, signaling a growing interest and confidence in cryptocurrency investments among mainstream investors. | Read More

Bitcoin Shorts Are Out $161M Amid 11% Surge

Bitcoin short sellers have found themselves in a precarious position as the cryptocurrency surged unexpectedly, leading to massive losses. Over 24 hours, Bitcoin's price jumped nearly 11%, reaching a new yearly high of $57,000. This rally resulted in over $161 million in BTC short positions being liquidated, catching many traders off guard. | Read More

Stablecoin Market Hits $140 Billion

The stablecoin sector, a critical component of the cryptocurrency market, has witnessed a remarkable resurgence, with its total market cap soaring to nearly $140 billion in February, the highest level since December 2022. This resurgence is largely driven by significant growth in the market caps of two leading stablecoins: Circle's USDC and Tether's USDT. | Read More

BitForex Exchange Vanishes with $57M

The BitForex exchange has abruptly gone offline. This sudden disappearance follows a massive outflow of funds, reported to be around $57 million, from the exchange's hot wallets on February 23. Users attempting to access the BitForex website are now met with messages indicating they have been blocked, and all withdrawal services have been suspended. | Read More

Pyth Integration With Hedera Brings 400 Data Feeds

The Hedera ecosystem, a leading platform for decentralized applications, has recently taken a significant leap forward in its capabilities. This advancement comes through the integration of Pyth Price Feeds, which now offers developers access to over 400 financial data feeds. This is set to advance financial instruments on Hedera by providing real-time, accurate, and verified price data across a wide range of asset classes. | Read More

Xai Launches Staking Rewards For Ethereum Gaming

The introduction of staking capabilities, starting with nearly 35,000 Sentry Key sales across over 6,300 unique owners, signifies a strong initial interest and lays a solid foundation for future growth. This initiative is expected to make a significant impact on the Ethereum gaming landscape, attracting more developers and users to the platform. | Read More