Blockchain Midday Update | Top Stories for February 6

Midday Blockchain Highlights

Here are the key developments in the blockchain space between 7:00 AM and 12:00 PM on February 6:

• Bitcoin accumulation continues: Metaplanet's CEO reaffirmed plans to steadily accumulate Bitcoin.
• Market sentiment remains in deep fear: The Fear & Greed Index dropped to 9, with sentiment still categorized as extreme fear.
• Aave proposes L2 adjustments: Aave governance has suggested pausing deployments on three L2 chains, requiring new chains to generate at least $2 million in annual revenue.
• Possible source of crypto sell-off: A Pantera Capital partner speculated that recent crypto market weakness could stem from large Asian institutions selling off holdings.
• Update on Vitalik's ETH movement: Vitalik has already sold 6,899.5 of his planned 16,384 ETH, with the remainder deposited into Aave for yield generation.
• BTC realizes record losses: Data shows adjusted realized losses for Bitcoin reached $3.2 billion on February 5, a historic high.
• Mining stocks tumble: Publicly traded Bitcoin miners including IREN and CleanSpark saw significant share price drops, driven by underwhelming quarterly results.