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  • The crypto market experienced strong upward momentum in February, ending the month with a 40% increase in total market capitalization – a level of performance not seen since October 2021. Additionally, the spot BTC ETFs saw a net inflow of over US$4.9B in February, with Grayscale’s outflow showing a notable decrease compared to January’s. Overall, the launch of spot BTC ETFs has proven to be a huge success so far, continuing to attract capital to the crypto market.

  • March 8, 2024, celebrates International Women’s Day, embracing the theme “Invest in Women: Accelerate Progress.” Currently, women represent approximately 37% of global cryptocurrency owners — a figure that might seem low compared to males, yet it signifies a substantial upswing from 21% in 2021.

  • EigenLayer, the restaking primitive on Ethereum, has seen explosive growth in TVL recently, growing by over 800% year-to-date. EigenLayer has taken a phased approach to launching, spanning three stages and restaking deposit caps. Its most recent deposit cap increase was a temporary removal of all caps from February 5 to 9, with TVL rising by over 180%. Liquid restaking protocols, which allow users to participate in restaking while maintaining liquidity through a token, have been important for the growth of EigenLayer. These protocols grew over 300% in February, from US$1B in TVL to over US$5B. 

  • The Uniswap Foundation has proposed a governance upgrade to distribute protocol fees to UNI stakers and delegators. The aim of the proposal is to incentivize active delegation and a more engaged governance community. With Uniswap regularly making above US$50M in fees per month, this could be a fairly significant source of yield for stakers, depending on the exact specifics of the fee-sharing agreement. 

  • Since its public launch on February 19, Ethena’s USDe has witnessed a rapid influx of capital, with its supply skyrocketing to over US$565M, while its user base has grown to more than 31K. The remarkable growth of USDe can be attributed to two key drivers: the launch of its points program Shards and, more significantly, the allure of high advertised yields.


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