Daily News | The Altcoin Market Has Pulled Back, Litecoin Has Been Rising For A Week

Crypto Daily Digest: SEC confirmed acceptance of DOGE ETF application, Litecoin ETF may become the first new crypto ETF approved

According to Farside Investors data, yesterday, the U.S. Bitcoin spot ETF had a net outflow of $183 million, of which Grayscale GBTC had a net outflow of $6.9 million and Fidelity FBTC had a net outflow of $94.5 million; the U.S. Ethereum spot ETF had a net inflow of $800,000, of which Grayscale ETHE had a net outflow of $3.8 million and Fidelity FETH had a net inflow of $4.6 million.

The US SEC has confirmed that it has accepted the DOGE ETF application

The U.S. Securities and Exchange Commission (SEC) has confirmed its acceptance of the 19b-4 application submitted by Grayscale and the New York Stock Exchange to establish a DOGE ETF.

Opinion: Tether may need to sell Bitcoin to comply with proposed US stablecoin regulations

To comply with proposed U.S. stablecoin regulations, Tether may need to sell some non-compliant assets — including bitcoin, precious metals, corporate paper and secured loans, according to JPMorgan analysts.

Two stablecoin bills have been proposed in the United States: the House of Representatives’ Stablecoin Transparency and Accountability Act (STABLE Act) and the Senate’s United States Stablecoin Innovation Guidance and Establishment Act (GENIUS Act), which aim to regulate stablecoin issuers through licensing requirements, risk management rules, and 1:1 reserve backing.

Under the House’s STABLE Act, only 66% of Tether’s reserves are in compliance, while under the Senate’s GENIUS Act, the compliant reserve ratio is 83%.

Bloomberg analyst: Litecoin ETF may become the first new crypto ETF approved

On February 14, Eric Balchunas, senior ETF analyst at Bloomberg News, responded to the question of “the current progress of approval of major Altcoin ETFs” on social media: “In baseball terms, most are still on first base, except Litecoin is heading for third base.”

Market Trends: BTC continues to fluctuate, Litecoin has risen for a week

Market Hotspots

Litecoin has been rising for a week in a row due to the news that the ETF is about to be approved. As of press time, it has risen from a low of $80 at the beginning of this month to $126.07;

UniLayer tokens rose 2208.24% in 24 hours. Unilayer is an AMM-based multi-chain DEX trading platform that provides advanced trading tools for professional traders and also has a Launchpad function.

Mainstream Coins

BTC continues to fluctuate. The US BTC spot ETF has seen net outflows for five consecutive days and has been fluctuating between $94,000 and $98,000 this week;

ETH follows the market trend obviously, resonating with the broader market, and the activity of US ETH spot ETF funds continues to weaken;

Most Altcoin sectors experienced a slight correction, but the PayFi sector rose against the trend. The top project XRP rose 3.38% in 24 hours, Litecoin (LTC) rose 2.54%, and Telcoin (TEL) rose 13.22%.

Macro news: US stock market sentiment clearly warmed up, and PCE data rose moderately

The sentiment of the US stock market has obviously improved, and the three major indexes closed higher, with the S&P 500 up 1% and the Nasdaq up 1.5%. As of the close, the Dow Jones Industrial Average rose 0.77% to 44,711.43 points; the S&P 500 rose 1.04% to 6,115.07 points; and the Nasdaq rose 1.50% to 19,945.64 points.

U.S. President Donald Trump signed a presidential memorandum on Thursday proposing reciprocal tariffs, but did not implement them immediately, easing some investor concerns. U.S. Commerce Secretary nominee Lutnick predicted the new tariffs would be implemented on April 2.

Data released before the market opened on Thursday showed that the U.S. PPI rose 0.4% month-on-month in January, higher than market expectations of 0.3%; the core PPI excluding food and energy rose 0.3%, in line with expectations. While the latest PPI readings were still elevated overall, gains in categories related to the PCE data were more modest. The PCE price index is a closely watched inflation gauge by the Federal Reserve.