💸 Green February for Crypto?

Hello and welcome to another crypto news round-up by Coinigy.

February is here. And two things consistently happen this month…

a) 84% of men dash to the nearest grocery store for last-minute Valentine's Day flowers (guilty as charged).

b) BTC and ETH usually see green monthly returns. In fact…

• BTC has only had 2 red February’s in its history.
• ETH has only had 1 red February in its history.

The only other month that consistently sees as much green is October (dubbed “Uptober”). Take a look at the Coinigy Returns Radar to view the monthly and quarterly performance of crypto assets.

So the million-dollar question is: will February 2024 be a green month?

We can’t predict the future, so let’s stick to the news 😂

• $900M tokens to be unlocked in February across major crypto projects
• Bitcoin trading on Coinbase sees another decline – Why?
•  Spot Bitcoin ETFs add 151K BTC amidst GBTC dump in January
• Celsius exits bankruptcy, commences return of over $3B to creditors

$900M tokens to be unlocked in February across major crypto projects

The crypto market braces for a potential price shakeup as nearly $900 million worth of locked tokens are scheduled to be released in February. Projects like Avalanche, Aptos, and The Sandbox are among those facing significant unlocks, raising concerns about potential selling pressure.

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Bitcoin trading on Coinbase sees another decline – Why?

According to data from CryptoQuant, due to the decline in BTC’s value, its Coinbase Premium Index (CPI) value was negative for most of January. Soon after the ETF approval on the 10th of January, BTC’s CPI turned negative and so remained till the 27th of January.

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Spot Bitcoin ETFs add 151K BTC amidst GBTC dump in January

The other nine funds were actively catching up, adding a combined total of 151,006 Bitcoin since the first trading day. The non-GBTC ETFs have increased their holdings by more than 700%, from 18,390 BTC at the start of the trading to 169,396 BTC as of Jan. 31.

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Celsius exits bankruptcy, commences return of over $3B to creditors

Celsius exits bankruptcy, commences return of over $3B to creditors. Celsius has emerged from Chapter 11 bankruptcy in the United States and is set to start distributing $3 billion worth of crypto and fiat to creditors, along with launching a new Bitcoin mining firm.

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Other highlights worth mentioning

Here’s what happened in crypto today - Cointelegraph

USDT leads the way as stablecoin inflows cross $400M — AMBCrypto

El Salvador's Bitcoin-Friendly President Nayib Bukele Wins Re-Election - CoinDesk

FTX Won't Reboot Exchange, But Plans to Pay Back Customers in Full - Decrypt