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The Crypto Minute
Your Weekly Guide to Surviving the Crypto Rollercoaster.
CoinBrain
February 10, 2025 • Reading Time: 10 minutes
Welcome to a new issue of Crypto Minute by CoinBrain! It seems that the memecoin sentiment is weakening and there is a genuine hunger for innovation ⚡️ in the crypto space.
A lot of caution is in the air (as per the Fear & Greed index 🫠 ), yet the community keeps its long-term optimism.
Let us fly over the most important developments and news to keep you up-to-date 📆
⤵️ Today’s Agenda:
🐻 ⛓️ Berachain token launch sparks discussion about its lacking utility and innovation.
Kanye West refuses speculations about his memecoin after teasing the X community.
Jupiter Exchange’s X account hacked and used to promote $MEOW memecoin scam 🐱
CPI (Consumer Price Index) monthly and yearly data drop this week.
And more…
📊 Market Snapshot
| $97,800BTC+2.7% | $2,600ETH+3.5% | $3.19TCrypto Market Cap-6.2% | 35 (Fear)Fear & Greed Index-4 from last week |
📅 Crypto Events You don’t want to Miss
Wednesday, Feb 12th - Big day for macro-watchers! The US CPI monthly, US CPI Core monthly, and US CPI yearly data drop at 1:30 pm UTC.
CPI (Consumer Price Index) is probably the most important inflation indicator.
⬆️ Higher-than-expected numbers could fuel Fed hawkishness, pressuring risk assets like crypto 📉
Then, at 3:00 PM UTC, Fed Chair Powell takes the stage. Markets will dissect every word for clues about a rate hike. Will he soothe the markets or send them into a tizzy?
Thursday, Feb 13th (1:30 PM UTC) - US PPI and core PPI monthly
This tracks wholesale inflation, a leading indicator for consumer prices. A hot print could reinforce the inflation-sticking narrative, while a cool read might allow for lower interest rates.
Friday, Feb 14th (1:30 PM UTC) - US Retail Sales m/m and core retail sales
Cupid’s not the only one making moves on this day! The retail sales numbers show consumer spending trends. a
A strong report signals a resilient economy 💪 , but weak data might destroy Fed pivot hopes. Watch for crypto volatility around this release!
🐋Smart Money Tracker
Tuesday, Feb 4th: On this day a new, mysterious wallet was created, and withdrew $10M USDC from Binance to buy 6.69M $MELANIA at $1.5.
Seems that these two coins are not entirely gone yet 🤔
Wednesday, Feb 5th: Now this takes some balls!
This degen aped with $900K to buy 11.66M $ENRON just seconds after they revealed the contract address, then cashed out for $5.3M, pulling a $4.4M profit in under 30 minutes!
Wednesday, Feb 5th: Mohammed Dewji MO (@moodewji) launched $TANZANIA and sold it to investors, pocketing $1.48M!
He distributed 90 $SOL($18K) to 20 wallets and bought 793M $TANZANIA (79.5% of the total supply).
After accumulating his position, he shared the contract address, then offloaded all 793M $TANZANIA for 7,373 $SOL($1.5M), securing a profit of 7,283 $SOL($1.48M).
Then he deleted all related tweets.
Thursday, Feb 6th: It seems that institutions are accumulating $ETH!
In the past 2 days, Cumberland withdrew 62,381 $ETH ($174M) from exchanges and transferred it to CoinbasePrime.
Friday, Feb 7th: After $BERA was listed, a whale made a profit of $589K by shorting it in less than 2 hours.
They deposited 1.6M $USDC to Hyperliquid on this day and shorted $BERA at ~$13.
Then they closed the short position and withdrew 2.19M $USDC, making a profit of $589K.
Saturday, Feb 8th: Whales are excited about the launch of $TST token. The most profitable wallet on that token is sitting on a $2M profit.
Sunday, Feb 9th: Christian (@Christianeth) locked all of his 8.64T $CHEEMS ($9.12M) for 6 months to show support and long-term belief for @LordCheems_bsc and the BNB Chain.
Source: Lookonchain
📰 News Recap (Feb 4 to 10)
Ye Says NO to Memecoin Money! 🚫 Kanye West just turned down a cool $2M to launch his own memecoin! After teasing fans on X, Ye dropped the bomb: "IM NOT DOING A COIN" 💥
Why? Because according to Ye, these coins "PREY ON THE FANS WITH HYPE!"
While prediction markets gave it a 40% chance, looks like Ye's keeping at least basic levels of sanity after his recent rants 🤡
Binance Accidentally Creates a $48M Memecoin! A BNB team member made a tutorial video about launching memecoins, and accidentally created a $48M token!
The plot thickens: someone in China spotted the test token ($TST) and started trading it.
Source: TradingView
Then CZ tweeted about this "tricky situation" and BOOM 💥 The token exploded from $500K to $48M in just 20 minutes!
Don't worry though - CZ says the team deleted the private keys and holds zero tokens. Oopsie tutorial of the year? 🏆
Jupiter DEX Aggregator Gets MEOWed by Hackers! 🙀 Jupiter DEX's X account just got hacked and turned into a memecoin promo machine! The hackers went full cat-mode, pushing a fake $MEOW token (named after Jupiter's own co-founder)
we've regained control of our account.
to be clear: no customer or treasury funds were ever in danger. all programs and funds are in held in secure multisigs. no other comms channels were affected.
and, thankfully, all of our team members are safe.
jupiter is fully… x.com/i/web/status/1…
— Jupiter (🐱, 🐐) (@JupiterExchange)
6:21 AM • Feb 6, 2025
But it's no laughing matter - traders lost millions "in a matter of minutes" after falling for the scam! The hackers didn't stop there, switching to promote $DCOIN after.
🌍️ Story of the Week
Berachain’s BERA Token Launch Sparks Debate 💥 This week, Berachain’s BERA token made headlines with a meteoric rise to a $1.5 billion market cap following its mainnet launch and airdrop.
🚀 The token surged 71% in hours, fueled by major exchange listings and backing from NFT marketplace Magic Eden.
But not everyone is celebrating, critics are calling out the project’s tokenomics, with concerns over large allocations to early investors and insiders.
Some traders even labeled it a "grift," arguing that the project is an Ethereum fork with little innovation. Ouch! 🤔
Source: @yugoviking on X
Despite the backlash, Berachain has its defenders. The Layer 1 blockchain, built on Proof of Liquidity (PoL), has attracted a loyal community and significant venture funding ($42 million to be exact).
Plus, Chainlink has already integrated BERA, showing some love for the new chain. 💙
Meanwhile, the airdrop, which distributed 79 million tokens, has left some users thrilled, while others question whether the project is more about enriching VCs than building real value. 🎭
So, is BERA the next big thing or just another VC-backed hype train? 🚂 Only time will tell, but one thing’s for sure: the crypto world loves a good drama! 🍿
🔒 Major Token Unlocks of the Week
$BREED - 1.38% of the total supply will enter circulation on Feb 12, 2025.
$GFAL - 1.06% of the total supply will enter circulation on Feb 13, 2025.
$0KN - 1.50% of the total supply will enter circulation on Feb 14, 2025.
$IGU - 3.43% of the total supply will enter circulation on Feb 16, 2025.
$APE - 1.48% of the total supply will enter circulation on Feb 17, 2025.
More details here.
🗞️ From our Blog
💡 1 Minute Learning: Account Abstraction
Account abstraction transforms crypto wallets into something closer to smart contracts, enabling a new level of automation for core operations like transfers and wallet access ⚙️
These smart wallets can now execute code to validate transactions ✅ , which means you can tweak things like setting custom gas fees or automating payments.
⭐️ More improvements are on the way:
📜 EIP-4337, for instance, completely decouples wallet operations from the blockchain’s consensus layer, allowing commands to be bundled and validated off-chain.
By making wallets smarter and more adaptable, account abstraction could be the key to unlocking mass adoption for Ethereum and other EVM-based platforms.
And that’s a wrap! 🎉 Enjoyed this newsletter? Forward it to a friend, and let them know they can subscribe here.
Got any ideas or feedback? We’d love to hear from you! Drop us an email at [email protected].
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and not investment advice or a solicitation to buy or sell any assets or make financial decisions. Always do your own research and stay safe out there.