Bitcoin continues to stand still as the asset has settled around the $23,000 mark. More fluctuations, as expected to a large extent, come from several altcoins.
Ethereum jumped to a weekly high by reclaiming $1,700, while ETC, AVAX, and Polkadot are up by approximately 5% in a day.
ETH at Local Peak
The alternative coins charted some declines in the middle of the week but reversed their trajectory in the following few days.
Ethereum suffered by declining to $1,600 on a few occasions. However, it jumped to $1,650 yesterday, and a 3.5% increase has pushed the second-largest crypto to over $1,700. This is the highest ETH has been in just over a week.
Moreover, ETH has soared against BTC as well, as the trading pair is at a 3-month high.
From the larger-cap alts, Polkadot, Avalanche, and Ethereum Classic have gained the most, up by about 5-6% daily. From the mid-cap alts, NEAR Protocol and FIlecoin have increased the most. Both have soared by double digits.
The crypto market cap has added a few more billion and has tapped the $1.1 trillion mark.
Crypto Market Overview. Source: QuantifyCrypto
Bitcoin Stalls at $23K
While the altcoins fluctuated in the past few days, bitcoin, on the other hand, has remained relatively still. The primary crypto had jumped to over $24,600 (multi-week high) at the end of July but failed there and started retracing.
The following few days saw bitcoin dipping below $23,000. However, the asset ultimately settled around that level and remained there. Somewhat expectedly, it trades just over that line now as well.
Since most altcoins continue to outperform bitcoin, the latter’s dominance has taken a hit. The metric is down below 41% and is even close to dumping beneath 40%.
At the same time, BTC’s market capitalization has remained at just under $450 billion.
BTCUSD. Source: TradingView
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Meme Coin Prices Pump as Official Trump, dogwifhat, BTC Bull Token Post Gains
Although Bitcoin and Ethereum are continuing to chop up the crypto traders attempting to squeeze profits from minor price moves, the meme coin market seems to be rebounding. Following a slow slide from a total market value of $137 billion in December to $67 billion this February, meme coins are now benefiting from a cumulative 10% boost.
This has enabled tokens like Official Trump ($TRUMP) and dogwifhat ($WIF) to post significantly higher gains, backed up by bullish technical analysis patterns.
At the same time, a unique new meme coin – BTC Bull Token ($BTCBULL) – has entered the picture, with an ICO that some investors are rotating their profits into.
TRUMP and WIF Break Out of Classic Chart Patterns
Within financial markets of all kinds, technical analysts have established a huge range of ways to anticipate significant price movements. When volatility is high (as it always is in crypto), chart patterns consistently prove themselves as highly reliable options.
As we’ll discover when analyzing TRUMP and WIF, meme coin traders are especially fond of simple and easy-to-follow analysis.
For TRUMP (a coin that has managed to sustain its key support around $14), this week’s bullish meme coin market conditions have set up a descending triangle pattern that TRUMP’s price successfully broke through today. Loyal holders have been rewarded with a boost of approximately 20% so far, including a push above the $20 level:
Since this chart is tracking the price’s progression in 4-hour intervals, the following days will determine how far TRUMP can surge beyond this point. Another dip towards $14 could be on the cards – but so could an extended bullish move, which is not uncommon in the world of meme coins. As long as Donald Trump himself remains a solid supporter of the Web3 industry, TRUMP will continue to be a token to watch.
Meanwhile, dogwifhat has been subject to extensive online criticism, due to its association with key influencers who have repeatedly upset the project’s community.
The negative sentiment around WIF has caused it to fall around -88% from its recent peak value of $4.83, which was set in mid-November 2024. Since December, WIF has dipped on an almost daily basis – and its most recent potential recovery is most clearly visible on its 4-hour chart:
Like TRUMP, WIF has managed to set up its own descending triangle breakout – but because this pattern is much shorter, the resulting pump (also roughly 20%) may be less likely to last. At the very least, WIF bulls will want the $0.55 price level to hold, which could lead WIF into a sideways range with an upper limit of $1 or $2.
$WIF#WIF – Nice falling wedge breakout here on 4hr.
Unless TRUMP and WIF really get fired up, meme coin fans will be much better off looking at trending new ICO projects that can offer investors the potential for major gains.
Could BTC Bull Token ($BTCBULL) be the Next Breakout Meme Coin?
Across the Web3 industry, the ultimate fate of almost every project is connected to the price performance of Bitcoin ($BTC). This means that if you believe in the future potential of blockchain technology and its real-world applications, you’re also a Bitcoin believer by default.
For supporters of both Bitcoin and meme tokens, BTC Bull Token ($BTCBULL) is a perfect match – and an important potential addition to their portfolio.
The Bitcoin Bull Token’s roadmap is both straightforward and rewarding, and involves a mix of real BTC airdrops and strategic BTCBULL token burns that will occur when BTC’s price hits particular targets.
For example, BTC airdrops (exclusively for BTCBULL holders) will take place when Bitcoin gets to $150,000 and $200,000. BTCBULL tokens will also be burnt when BTC reaches $125,000, $175,000, and $225,000 – reducing the BTCBULL supply, and potentially boosting its price.
At a Bitcoin price of $250,000, BTCBULL holders will also receive a BTCBULL token airdrop, immediately boosting the size of their holdings.
On the technical side of things, BTCBULL is a meme coin based on the Ethereum network – so to keep the real BTC airdrop process as convenient as possible, BTC Bull Token has partnered with Best Wallet.
Using Best Wallet’s user-friendly smartphone app, BTCBULL holders can track their entire crypto portfolio and receive their BTC airdrops directly through Best Wallet itself, as the platform is directly connected to the Bitcoin and Ethereum blockchains.
As word about the BTC Bull crypto presale is already spreading fast, it’s raised more than $1.4 million in just a few days. The BTCBULL price is fixed at $0.00236 for now, but the presale will soon progress through a series of stages that will see the price rise until BTCBULL launches on crypto exchanges, and the wider market takes over.
Additional BTCBULL tokens can also be acquired through a dedicated staking protocol, which rewards stakers at a dynamic APY rate of approximately 287% pa.
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Spot Ethereum ETF Demand Outpaces Bitcoin’s – Is a Flippening Coming?
Following the solid end in January, the spot Bitcoin ETFs have shown some mixed reactions to the macroeconomic uncertainty that started with US President Trump’s tariffs.
In contrast, the Ethereum ETFs have enjoyed the past week by registering more net inflows than their BTC counterparts for the first time.
Ethereum ETFs See Substantial Demand
Recall that the Ethereum ETF start in late July last year was anything but impressive as investors were in a hurry to move their funds out of the Grayscale Trust, which was now converted into a spot exchange-traded fund. Unlike the case with BTC, though, where they transferred most of the amount toward IBIT and other ETFs, all Ethereum products were in the red for many weeks.
However, things changed a few weeks after the US elections, and the ETFs had a 19 consecutive day period with only net inflows or at least no reportable outflows. A similar but smaller streak was recovered in mid-January and in the past week and a half as well. January 29 was the last date for net outflows from the spot ETH ETFs, with a minor $4.7 million exiting the funds.
Since then, it’s been well in the green or no outflows. The past week alone saw $83.6 million poured in on Monday, a remarkable $307.8 million on Tuesday, and a more modest $18.1 million on Wednesday, as well as $10.7 million on Thursday. Friday was a no-action day.
This puts the total for the week at $420.2 million, which is quite impressive given the economic uncertainty. In the meantime, though, ETH’s price has tumbled by more than 14% and now struggles to remain above $2,600.
Different Bitcoin Story
The spot Bitcoin ETFs, which recently celebrated their first birthday, had a different week. On Monday, the first business day following the tariffs against China, Mexico, and Canada, investors withdrew $234.4 million from the funds, followed by another $140.2 million on Thursday.
The positive numbers on Tuesday ($340 million), Wednesday ($66.4 million), and Friday ($171.3 million) managed to offset the losses, and the BTC ETFs finished the week at $203.8 million in net inflows. However, it signals a major shift (or flippening, if you will) between the Ethereum ETFs and the Bitcoin counterparts.
Within this timeframe, BTC’s price also went south hard, dumping to under $92,000 on Monday, but has lost a more modest 3% on a weekly scale, compared to ETH’s 14% drop.
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Ethereum L2 Taiko and DoraHacks Are Launching the Largest Anonymous Community Vote in Crypto History
[PRESS RELEASE – Singapore, Singapore, February 7th, 2025]
Taiko, an Ethereum Layer 2 network, and DoraHacks, the largest hacker movement in crypto, are spearheading the biggest anonymous community vote ever conducted in Web3. The initiative aims to advance decentralization in community governance through the Taiko Grant Factory Hackathon.
The Taiko Grant Factory Hackathon is designed to unleash developer creativity—driving innovation, interactive applications, and projects with real-world impact. After months of intense competition, the finalists are now heading into the voting phase—one of the biggest steps yet toward large-scale, community-driven decision-making.
At the core of this vote is Minimal Anti-Collusion Infrastructure (MACI), a game-changing privacy-preserving and collusion-resistant voting mechanism originally conceptualized by Ethereum co-founder Vitalik Buterin. Vitalik has long pointed out the fundamental flaws of traditional voting systems—fraud, collusion, privacy leaks—and MACI is Ethereum’s answer to fixing them. Dora Factory, the decentralized governance protocol, carried Vitalik’s mission and shipped the best MACI product the market has seen.
For the final round of Taiko’s Grant Factory Hackathon, voting will be executed entirely on-chain via MACI, ensuring encrypted ballots, zero-knowledge proof integrity, and protection against vote buying and collusion. Users will submit their votes through smart contracts, with timestamps recorded on-chain, making the process transparent yet private. At the end of the voting round, results will be revealed by the designated operator, ensuring both fairness and credibility. As an incentive, Taiko is distributing 50,000 Trailblazer points to participants, which will later translate into an airdrop.
“This is decentralization in action,” says Ben Wan, Taiko’s Community Director. “We’re thrilled to bring MACI to this scale and grateful to the community for participating in Taiko’s growth. The future of Ethereum is decentralized, and we’re here to make that happen—together.”
This vote isn’t just big—it’s historic. Over 920,000 participants are taking part, making it the largest whitelisted anonymous community vote in Ethereum’s history
The voting event has attracted significant participation, with more than 920,000 individuals expected to take part, making it one of the largest whitelisted anonymous community votes in Ethereum’s history.
Steve Ngok, Partner at DoraHacks, adds: “We’re incredibly excited to work with Taiko on launching the biggest MACI-powered vote in Ethereum history. DoraHacks and Dora Factory have committed resources to expanding Ethereum’s mission—advancing MACI for decentralized governance and privacy protection. We look forward to exploring MACI’s full potential alongside Taiko and its dynamic community.”
About DoraHacks
DoraHacks is the world’s largest hacker movement and a leading global platform for open-source funding, hackathons, and developer grants. Since its inception in 2014, DoraHacks has empowered 200,000 developers and funded 20,000 innovative startups in multiple frontier tech verticals in Web3, AI, Quantum, and more.
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