Crypto Prices Soaring & What This Controversial Airdrop Can Teach Investors

Collective Shift

Join Matt and Nick as they explain why the crypto market, led by Bitcoin and Ethereum, keeps soaring higher. They also cover the Ethereum ETF race, the importance of token unlocks, and more.

Key Takeaways

• Bitcoin (BTC) surpassed $52,000 for the first time since late 2021, while Ethereum (ETH) hit a 19-month high above $2,850.
• Demand for the new spot Bitcoin ETFs remains stronger than expected, and is likely a major reason for BTC’s strong price action.
• A bankruptcy judge approved fallen crypto lender Genesis to liquidate roughly $1.3B worth of GBTC as part of its efforts to reimburse creditors. Importantly, this potential sell pressure on BTC is not as bad as the news headlines lead on.
• The Starknet Foundation announced an airdrop for Starknet (STRK) in what was one of the most controversial and divisive airdrop announcements to date. Claims open February 20.