🚀 Crypto Charges Higher. Here's Why This Cycle Isn't Over:

GM, the hope levels are increasing.

Perfect. Bitcoin successfully bounced above the levels we mentioned yesterday, and now we’re clear to attempt the attack towards $102k. Level to level, mate.

Right now, around 50% of people on CT believe the cycle is over. Meanwhile, there’s not much indicating this. In fact, BTC is now less over-extended than it was in November 2020. Stablecoin supply is rapidly growing as we speak, which is always a good sign for continuation.

Moreover, the good old Orange man is once again doubling down on his statement to make the USA the crypto capital. The regulatory environment is already completely different and way more positive, which is underscored by more and more filings and approvals to include Ethereum staking in spot ETFs.

Speaking of Ethereum, the unbelievable might just happen. An age-long signal of Bitfinex whales is now flashing increasingly long positioning in ETH/BTC. I know it sounds unreal, but ETH is still well-positioned for a final hated rally.

The ETH comeback might also be boosted by massive outflows from Solana, which are currently finding their way to Ethereum. Plus, we already see much attention shifting toward other L1s like Hyperliquid, Sonic, and Berachain.

Let’s see how this turns out, but I like what I see so far. Beware of the dark side, though, as the indexes such as the S&P 500 show a bit of a failed breakout. Staying hopeful (for now).

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The important bits.

• Mode (L2) - 700 builders tuned in to learn how to use ORA’s stack

• mETH Protocol (LST) - The total supply of cmETH has grown over 210%

• Ramen Finance (Berachain) - NFT migration snapshot will be taken tomorrow

• Sophon (Entertainment layer) - Now live on Nexus

• Superseed (L2) - Defi App is live, Superseed community has been granted access

• OogaBooga (Berachain DEX) - Has achieved 200m USD in swap volume

• Pendle (DeFi) - Ethereal's Season Zero Program is officially live

• Kaito (SocialFi) - Release the Kaito tokenomics

• Berachain (L1) - Reached over $100M of on chain liquidity for bera tokens
  

Even more important bits.

• Coinbase and kraken still In talks to buy Deribit

• Binance use the $800m they had issued from Tether to start buying back the assets they sold

• Ethereum Foundation collaborates on new framework to standardize buzzy 'intents' transactions

Charts and stats of the day.

• Litecoin open interest reaches 4-year high with $758M

• The number of applications for crypto-products on BTC and ETH is growing rapidly

• BERA token liquidated the most shorts yesterday

• BlackRock & Fidelity have already swallowed up 1.4% of the TOTAL ETH supply

Crypto taxes? Absolute pain.

Sifting through receipts, crunching numbers — it's a yearly ritual of suffering. Throw crypto into the mix, and it’s full-blown chaos.

Now you’re juggling transactions across wallets, flipping between CEXes and DEXes, and wondering if that airdrop was a win or just a taxable headache. And let’s not even start on staking rewards…

Well, it doesn’t necessarily have to suck.

Crypto Tax Calculator is built for degens like you. With over 1000+ integrations, a custom shitcoin pricing oracle, and the superpower to handle your on-chain terror.

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TIBBIR/VIRTUAL UNISWAP 4H

Virtuals project $TIBBIR, aka Ribbita, has been the subject of some bullish rumors that have connected it to well-known VC Micky Malka, founder of Ribbit Capital. The fact he has not debunked or denied them is adding fuel to the fire.

Here’s the full thesis laid bare. The chart looks really good, regardless. Every time it comes out from under the VWAP (as it’s currently doing,) it tends to run quite hard. RSI reclaiming 50 and MACD curling up are both supporting the likelihood of a pump. We just need to clear that Point of Control (red line) resistance. Bid the purple box to catch a pullback.

Smart-money movements on Solana.

Smart-money movements on Ethereum.

Sophon: Enter the Sophon Intelligence Agency.

It’s not the first time we talk about Sophon, as it’s the next big player in the crypto entertainment space. If you wish to catch up, jump to this article.

Right now, Sophon is entering the AI landscape, with a $5M grant to support AI agent adoption on its network. AI and crypto go very well together, as we saw a massive run in this sector just recently.

Key aspects of the program:

• Anyone can deploy AI agents that trade, provide liquidity, and engage with DeFi protocols - no coding required

• Build a self-sustaining ecosystem where agents can generate enough value to cover their costs while benefiting users

As this network grows on Sophon, it will expand beyond DeFi into gaming, social interactions, and new forms of entertainment.

Stay tuned for more information on this coming up in early March, and follow Sophon on socials.

• Navi (GMX like DEX on Sonic)

• Tibbir (AI)

To save you doom scrolling.

Guys, I think the altseason is really here.

More hopium inbound: yesterday, news broke out of quantitative tightening ending, and on top of that, DOGE plans to start sending out $5k stimmy checks to all taxpayers using DOGE savings.

Also, DXY is continuing to weaken. The cards are all falling together. The hopium is hitting hard right now.

stay safe homies,

Hix0n 🫡