POKKET: Today’s Market Commentary (February 5)

Bitcoin & ETH slightly softer yet stable, $37300 & $1625. Movers are AKRO +73%, ZRX +38%, ADX +29%, MKR AAVE +25%, and rest mostly up in Pokket universe.

Its another DeFi-ing day as TVL reaches a new high of $32B, as FOMO into the space continues. Ethereum gas fees make another record high, with median transaction fees up to ~$12 (avg. is $23). MyEtherWallet (MEW) has added a Dapp browser in partnership with DappRadar, in preparation for explosion of interest in NFTs. UMA doubled after announcing a meme-stock index with a basket of r/WSB names, a DeFi token called uSTONKS. Some bad news for DeFi, Yearn’s DAI lending pools were drained for $14M in another flashloan attack.

In a move to meld the gap between crypto and gaming, ZEBEDEE will launch servers on CS:GO allowing winners to earn BTC, powered by the Lightning Network; the first 10 servers are all full.

In traditional markets SPX & FAANGs +1.1%, DXY at 91.5, USDJPY 105.53(!), Gold $1800.

Check out today’s interest rates at POKKET.

Like POKKET’s market commentary? 
Follow us on Twitter to get the latest news,
or email us your thoughts.