📊 Daily Crypto Market Update 📊

1. Market Overview

- Global Market Cap: 3.32T (previously 3.27T)

- Top Movers: TEL, TAO, S, SEI, INJ

2. Altcoin Market Trends 📈

- Majors/Utility plays continue to recover as memes lose attention. There were rumors of a Kanye token launching but still no confirmation. People are gravitating toward higher conviction plays amid the recent news of QT ending this summer. I strongly feel a shift back to legitimate protocols is on the horizon and we'll see the AI narrative return with the recent release of Grok 3, the new quantum chip from Microsoft, and recent listing of TAO on Coinbase.

3. Key News Headlines 📰

- Regulatory Updates: Argentine Regulator Pushes Ahead with Crypto Regulation in Wake of Milei-Libra Scandal

- Partnerships or Integrations: Banks in South Korea are reportedly rushing to partner with crypto firms as the country’s digital asset regulations become less restrictive

- Major Developments: Pi Network mainnet launch is today and Trump floats the idea of giving a $5k stimulus to all US taxpayers

4. Upcoming Events ⏩

- Macro Events: MELANIA token unlock today ($140M). NVIDIA Earnings Feb 26th. ETH Denver Feb 23rd-Mar 2nd. SONIC mainnet Feb 27th. SOL unlocks Mar 2nd ($2.16B). FOMC Mar 19th.

5. Summary ✍️

There were a lot of positive catalysts in the news today. MicroStrategy announced it's preparing a raise to purchase another $2B of Bitcoin, Trump recently stated he's "committed to making America the crypto capital" while also wanting to abolish the IRS, and the recent FOMC minutes meeting indicated that quantitative tightening will end by summer, leading to a high likelihood of QE (stimulus) happening before the end of the year (or sooner if Trump's $5k DOGE stimulus is enacted). This all leads me to believe we could have an extended cycle, not a shorter one. Utility plays are still showing strength as attention shifts away from memes. It's possible we may chop for a few months leading up to the end of QT but now it's no longer a question of if alt season will happen, it's when. 🐂$