Odaily Planet Daily News Matrixport released today's chart saying that there is a clear technical divergence between the price of Bitcoin and the relative strength index (RSI). Although the price of Bitcoin has remained above $100,000, the RSI has been in a consolidation state, indicating that the momentum of the underlying trend is weakening. Looking back at the correction and consolidation phases before 2024, strong buying opportunities have historically only occurred when the RSI fell to about 40%. At present, although the RSI is close to that level (48%), it has not yet reached it, so it may be too early to enter a new long position. A more strategic approach is to remain patient and wait for the best entry point.

According to BlockBeats, as of February 5, data from Ultrasound indicates that the current supply of Ethereum (ETH) has exceeded the levels recorded before the Ethereum Proof of Stake (PoS) merge. The current ETH supply stands at 120,521,291, marking an increase from the 120,521,140.92 recorded on September 15, 2022, when the merge occurred. Since Ethereum transitioned to the PoS mechanism, a total of 1,947,607.01 ETH has been burned, while 1,947,757.18 ETH has been newly issued, resulting in a net supply increase of 150.17 ETH.

According to Odaily, recent data from Ultrasound indicates that the current supply of Ethereum (ETH) has exceeded the levels recorded before the transition to the Proof of Stake (PoS) mechanism. As of now, the ETH supply stands at 120,521,291, showing an increase from the 120,521,140.92 recorded on September 15, 2022, during the merge. Since Ethereum's shift to the PoS system, a total of 1,947,607.01 ETH has been burned, while 1,947,757.18 ETH has been newly issued, resulting in a net supply increase of 150.17 ETH.

According to Odaily, Ethereum co-founder and Polkadot creator Gavin Wood recently emphasized in an interview with Forbes that blockchains lacking decentralization and resilience should not be considered part of Web3. Wood explained that assessing a blockchain's resilience often involves evaluating its level of decentralization. He identified several questions to gauge this metric: who makes protocol decisions, whether governance has clear or low entry barriers, and the Nakamoto coefficient, which measures how many parties are needed to compromise the network. Wood also highlighted the importance of more 'diffuse concepts,' such as whether a single entity can define narratives and fundamentally overshadow the ecosystem, stifling other narratives. Wood expressed satisfaction with Polkadot's decentralization, noting that according to Nakaflow data, Polkadot currently has a Nakamoto coefficient of 149, meaning at least 149 independent validators would need to collude to compromise the network. In contrast, other major blockchains have significantly lower scores, with Solana scoring 19 and Ethereum only 2. However, Wood acknowledged that Polkadot still faces challenges with high entry barriers. Additionally, Wood outlined five fundamental criteria for assessing blockchain potential: 1. **Resilience**: A cornerstone of Web3, resilience combines cryptography, decentralization, and game theory to protect blockchains from attacks and ensure long-term stability. 2. **Performance**: Beyond scalability, performance measures a network's efficiency in processing and completing tasks. 3. **Generality**: The ability of a blockchain to support various applications and programmability. 4. **Accessibility**: The ease with which users, developers, applications, and bots interact with the network. 5. **Coherence**: The capability of a system to maintain rapid and consistent communication within its network.

Odaily Planet Daily News: Ethereum co-founder and Polkadot founder Gavin Wood said in an interview with Forbes recently that blockchains that ignore decentralization and resilience should not be considered Web3. Measuring the resilience of a blockchain usually comes down to assessing its degree of decentralization, and Wood identified several questions to assess this metric: Who makes protocol decisions? Does governance have a clear or low entry barrier? And the Nakamoto coefficient, which measures how many parties are needed to destroy the network. Finally, Wood drew attention to more "diffuse concepts," such as whether a single entity can define a narrative and "fundamentally transcend the ecosystem and stifle other narratives." He is satisfied with Polkadot's decentralization. According to Nakaflow data, Polkadot's current Nakamoto coefficient is 149, which means that at least 149 independent validators are required to unite to destroy the network. In comparison, some other major blockchains have much lower scores, such as Solana's score of 19 and Ethereum's score of only 2. However, for Polkadot, the high barrier to entry is still a problem. In addition, Wood also proposed the following five basic criteria for judging the potential of blockchain: 1. Resilience: The cornerstone of Web3, resilience combines cryptography, decentralization and game theory to protect blockchain from attacks and ensure its long-term stability; 2. Performance: Not only scalability, performance also measures the efficiency of a network in processing and completing tasks; 3. Generality: The ability of blockchain to support multiple applications and programmability; 4. Accessibility: The ease with which users, developers, applications and robots interact with the network; 5. Coherence: The ability of a system to maintain fast and consistent communication in its network.

Odaily Planet Daily News According to Ultrasound data, the current supply of ETH has exceeded the level before the Ethereum PoS merger. Data shows that the current ETH supply is 120,521,291, an increase from 120,521,140.92 at the time of the merger on September 15, 2022. Since Ethereum completed the transition to the Proof of Stake (PoS) mechanism, 1,947,607.01 ETH has been destroyed, and 1,947,757.18 ETH have been newly issued, with a net supply increase of 150.17 ETH.

One of the top crypto enforcement lawyers has been demoted, according to a recent report source: https://u.today/sec-to-reduce-crypto-enforcement

According to Cointelegraph, El Salvador has increased its Bitcoin reserves by purchasing 12 Bitcoin during a recent market downturn. On February 4, the country acquired 11 Bitcoin for just over $1.1 million, averaging $101,816 per Bitcoin. An additional Bitcoin was later bought for $99,114, as reported by the government's Bitcoin Office tracker. This acquisition brings El Salvador's total Bitcoin holdings to 6,068 BTC, valued at over $554 million. The Bitcoin Office announced in a February 4 post on X that El Salvador had accumulated 21 BTC over the week, with a total of 60 BTC purchased in the past 30 days. The post highlighted the growth of the world's first Strategic Bitcoin Reserve, emphasizing El Salvador's continued success in expanding its cryptocurrency assets. Bitcoin experienced a 24-hour low of approximately $96,000 but has since recovered to around $98,000, though it remains below its intraday high of over $100,700, according to CoinGecko data. The recent Bitcoin purchases follow a $1.4 billion financing agreement between El Salvador's President Nayib Bukele and the International Monetary Fund (IMF) last month. As part of the agreement, the government agreed to reduce some of its Bitcoin-related activities. Changes implemented by El Salvador include making Bitcoin acceptance voluntary for the private sector and reducing government involvement in the Chivo crypto wallet. On January 29, Reuters reported that El Salvador's Congress quickly approved legislation to amend its Bitcoin laws to align with the IMF deal, which President Bukele had submitted shortly before. Despite the IMF agreement, El Salvador's government continues to invest in Bitcoin. The day after the deal was made, the country purchased $1 million worth of Bitcoin. National Bitcoin Office Director Stacy Herbert stated in late December that the country's Bitcoin strategy remains unchanged. A spokesperson from the Bitcoin Office also confirmed to Cointelegraph that El Salvador plans to continue buying Bitcoin, with intentions to "intensify in 2025."

Telegram founder Pavel Durov recently praised China's educational system, attributing the country's rapid advancement in artificial intelligence to its rigorous and competitive approach. For this reason, Durov warns that if the U.S does not fix its educational system, it risks losing its tech dominance to the Chinese.

The Nasdaq-listed firm said it plans to build 99 MW of data center capacity for bitcoin mining with the acquisition. source: https://www.theblock.co/post/338957/bitcoin-miner-bitdeer-acquires-canadian-power-project-for-21-7-million?utm_source=rss&utm_medium=rss

Crypto traders say the market has “lost all sense of logic” and is now “confusing just about every investor” despite pro-crypto moves by the US government. source: https://cointelegraph.com/news/crypto-market-confusing-defies-logic-say-analysts-traders?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

The platform will provide BTC and AVA rewards for users who book accommodations on Trivago using crypto. Could this incentive drive greater adoption and bring more users into the crypto ecosystem?

I do not believe this bull cycle is over; however, looking at forward probability, I think it is more likely that we will see a drop to $70,000-$75,000 for Bitcoin by the end of the year and then rise to $250,000.

Marvel Studios faced criticism from fans who accused them of using AI-generated artwork for a "Fantastic Four" poster due to distorted hands and other anomalies. Marvel denied the allegations, stating no AI was involved in creating the poster.

Carnegie Mellon and NVIDIA have developed a training technique that gives humanoid robots unmatched agility, mimicking elite athletes like Ronaldo and Kobe. As AI pushes physical limits, could it outpace human athletes?

Thousands of Bitcoin and crypto enthusiasts gathered outside a Mcdonalds restaurant to trade in their satoshis for Big Macs, McFlurrys and coffee? Little did they know they would be the pioneers to make the first Bitcoin payment.

Is this also the case with your cryptocurrency trading in the past year: always one step behind the media in grabbing hot spots, chasing high prices only after seeing KOL promotion, never being able to hold on to the coins you buy, and never being able to cash out after holding on.

The crypto journey led by the newly formed Cryptography Working Group should be more interesting and less risky than the one the Commission has taken the industry on for the past decade.

Trump’s economic game plan, including the implementation of tariffs, is actually a long-term positive catalyst for Bitcoin.

Led by Commissioner Hester Peirce, the new crypto task force seeks to resolve regulatory ambiguity, focusing on defining digital assets as securities and enhancing transparency. With the SEC’s stance shifting post-Gensler, can this initiative truly end years of uncertainty?