Cryptocurrency Market Evening Brief | Key Events on February 9

Key Highlights Today

• Circle Expands USDC Supply on Solana: This move could bring significant liquidity support to the Solana ecosystem.
• Cango Sells 4,451 Bitcoin: The company generated net revenue exceeding $300 million from BTC sales last week, highlighting profit-taking trends in the market.
• BlackRock Deposits 2,268 BTC and 45,300 ETH on Coinbase: This action reflects growing institutional trust in Coinbase as a reliable platform.
• Metalpha Initiates Bitcoin Purchase Plan: The board approved and completed the first $1 million BTC purchase, signaling strong confidence in Bitcoin.
• Analysis of Bitcoin Market Structure: Analysts point to three structural factors intensifying the current BTC price decline, urging cautious investment.