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🌙 Ethereum Outpaces Bitcoin as Digital Asset Fund Inflows Hit $1.3 Billion

Digital asset investments last week recorded net inflows that were more than double the prior week despite market volatility triggered by President Donald Trump’s tariff announcements.

Author

Mike Gavela
February 10, 2025

Crypto Roundup - February 10

Ethereum has recently overshadowed Bitcoin in the digital asset market by attracting significant fund inflows. This surge in interest is demonstrated by a record $1.3 billion in inflows, suggesting a strong institutional endorsement of Ethereum as a preferred asset. Additionally, the Ethereum ecosystem has reached new heights in terms of activity, with Base Layer 2 transactions notably contributing to the network’s vitality by sending all transaction fees directly to Coinbase, which raises questions about decentralization and fee structures. Meanwhile, the cryptocurrency community saw a frenzy around the "Jailstool" memecoin, propelled by an endorsement from public figure Dave Portnoy, highlighting the ongoing influence of celebrity on crypto market dynamics.

Top Stories

  • Ethereum outpaces Bitcoin: Record inflows into Ethereum funds demonstrate a growing institutional preference for ETH over BTC.

  • Base Layer 2 transactions scrutinized: All transaction fees are being directed to Coinbase, sparking debates over the implications for network decentralization.

  • Celebrity influence sways crypto markets: Dave Portnoy’s endorsement leads to a sharp increase in the value of the Jailstool memecoin.

TOP STORIES

Ethereum Outpaces Bitcoin as Digital Asset Fund Inflows Hit $1.3 Billion - "The Defiant"

Digital asset investments last week recorded net inflows that were more than double the prior week despite market volatility triggered by President Donald Trump’s tariff announcements.

thedefiant.io/news/markets/ethereum-outpaces-bitcoin-as-digital-asset-fund-inflows-hit-usd1-3-billion

Blockchain Sleuths Say Base is Sending All L2 Fees to Coinbase - "The Defiant"

Base, an Ethereum Layer 2 scaling solution network by Coinbase, came under scrutiny on X for transferring sequencer fees to the centralized exchange.

thedefiant.io/news/blockchains/blockchain-sleuths-say-base-is-sending-all-l2-fees-to-coinbase

Dave Portnoy’s Endorsement Sends JAILSTOOL Memecoin Soaring - "The Defiant"

JAILSTOOL’s market cap briefly surged above $200 million after Portnoy posted about it on X.

thedefiant.io/news/markets/dave-portnoy-s-endorsement-sends-jailstool-memecoin-soaring

OTHER HEADLINES

Nyse files to list and trade Grayscale Cardano ETF under ticker GADA

NYSE Arca files for Grayscale Cardano ETF, offering ADA exposure under ticker GADA, enabling traditional stock market trading access.

cryptobriefing.com/grayscale-cardano-etf-nyse-filing

Michael Saylor's Strategy Hits Bitcoin Buy Button After a Breather - Decrypt

Strategy, formerly MicroStrategy, has spent another $742 million on Bitcoin after stopping buying the cryptocurrency at the end of January.

decrypt.co/305227/michael-saylors-strategy-hits-bitcoin-buy-button-after-a-breather

Binance moved $8 billion off its proof-of-reserves

In December, Binance listed billions of dollars in excess proof-of-reserves but much of that capital buffer has now vanished from view.

protos.com/binance-moved-8-billion-off-its-proof-of-reserves

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