The British Bitcoin DeFi platform SatoshiSwap.ai announced the completion of a $700,000 pre-sale round of financing. The new funds will be used to build a DEX designed specifically for the Bitcoin ecosystem. It is reported that the SatoshiSwap.ai model is similar to UniSwap, but its platform will use the Stacks L2 blockchain.

Farside Investors monitored that on February 23, the ARK 21Shares Bitcoin Spot ETF (ARKB) had a net inflow of $34.5 million.

According to OKX market data on February 23rd, Bitcoin fell below $51,000 and is currently priced at $50,983, with a 24-hour drop of 0.82%.

Lin, the head of Deribit Exchange's Asia-Pacific business, stated that today's largest BTC options trade was once again buying a cross-market combination for March 1st: buying both a call and put option for 52,000 on March 8th, totaling 250 BTC and paying a premium of $785,000. The largest ETH trade today was buying 2,000 call options for 32,000 at the end of March, paying a premium of $314,000. The biggest change in the past 1-2 weeks compared to before the Spring Festival is that the large trades are relatively small. Recently, with the release of financial reports for US stocks and the FOMC meeting, the prices of technology stocks have been high, and traditional large institutions are focusing on arbitrage trading or short-term hedging.

This week’s newsletter describes a proposal for providing DNS-based human-readable Bitcoin payment instructions, summarizes a post with thoughts about mempool incentive compatibility, links to a thread discussing the design of Cashu and other ecash systems, briefly looks at continuing discussion about 64-bit arithmetic in Bitcoin scripts (including a specification for a previously proposed opcode), and gives an overview of an improved reproducible ASMap creation process. Also included are our regular sections describing updates to clients and services, new releases and release candidates, and notable changes to popular Bitcoin infrastructure software.

According to Glassnode data, since mid-March 2020, the amount of Bitcoin stored in exchange wallets has significantly decreased, marking a significant shift in investor behavior. At that time, more than 17% of the total Bitcoin supply was held on exchanges, reaching a historic high. However, the trend of decreasing exchange balances has continued, even during the 2021 Bitcoin bull market and is expected to continue until 2024. The amount of Bitcoin held on exchanges has continued to decline this year. From January 1st to February 19th, the amount of Bitcoin in exchange wallets decreased from 2.356 million BTC to 2.314 million BTC, the lowest level since April 2018.

According to OKX market data, Bitcoin fell below $51,000 and is now priced at $50,942, with a 24-hour decline of 1.89%.

VanEck's HODL, a BTC ETF, saw a surge of over 2,200% in trading volumes on Tuesday, with individual traders driving the move. The ETF traded over $400 million, a 22-fold increase from its daily average of $17 million. The surge in volumes came ahead of a planned fee cut on Wednesday, with VanEck reducing its offering fees from 0.25% to 0.20%. The ETF now holds nearly $200 million worth of bitcoin, with the surge in volumes contributing to the highest volume day for bitcoin ETFs since their launch in January.

According to Coingecko data, BTC's market value has returned to $1 trillion, currently valued at $1,026,205,886,144, setting a record for the past two years.

Bitcoin's recent surge above $52,000 has been followed by a rebound and pullback frenzy, causing some concern about a potential sell-off. Over 840,000 new Bitcoin addresses that bought BTC during the rally have incurred significant losses, which could lead to increased selling pressure. Crypto analyst Michaël van de Poppe predicts a potential correction before the Bitcoin price peaks between $53,000 and $58,000. Despite this, TradingView has given Bitcoin a "Strong Buy" indicator and the cryptocurrency currently boasts a market capitalization of $1.01 trillion.