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Monero Fell to All-Time Low After Binance Delists Privacy Token
Monero (XMR) slumped to an all-time low of 1.8 million after crypto exchange Binance said it will stop listing the privacy token as of Feb. 20. Privacy coins are cryptocurrencies that preserve anonymity by obscuring the flow of money across their networks, making it difficult to determine who sent what to whom. As such, they are not popular with regulators and law enforcement. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

EigenLayer's Cap Lift Draws $4B Inflow Amid ETH Restaking Steam
EigenLayer has become the fifth largest protocol in decentralized finance (DeFi) following $4.3 billion worth of fresh inflows over the past 10 days. The surge in inflows comes after the liquid restaking platform removed its staking cap on Feb. 5. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

Ethereum Sees Renewed Interest in Staking as Validator Entry Queue Spikes
The Ethereum network is witnessing a spike in the number of validators looking to stake ether (ETH). Data from ValidatorQueue shows that the validator entry queue has jumped to 7,045, the highest since Oct. 6. The waitlist, representing over 225,000 ether ($562 million), is expected to be cleared in just over 48 hours. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

Bitcoin Crosses $47K Propelled by Historic Chinese New Year Gains
Bitcoin (BTC) is headed towards $48,000 in the short term after its breakout fueled by a strong track record of gains around the Chinese New Year celebration, according to Markus Thielen, head of research at Matrixport and founder of 10x Research. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

Crypto Trading Rises for Fourth Straight Month in January: CCData
Spot trading volume across centralized crypto exchanges rose for the fourth consecutive month in January, climbing to a level last seen in June 2022 as the approval of bitcoin ETFs sparked renewed interest in digital assets. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

Crypto Users Lost $126M Due to Hacks and Fraud in January: Immunefi Data
Immunefi is out with a new report that unpacks crypto losses in January 2024. The bug bounty and security services platform reviewed instances where hackers exploited Web3 projects, and found that there was a total loss of $126 million in the first month of the year. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

Breaking Down the Relationship Between Luxury Watches and Crypto
Crypto prices have decoupled from prices for luxury watches, ending a prolonged positive correlation caused by unprecedented monetary stimulus. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

Analyst Who Anticipated Bitcoin's Recent Drop Makes New Prediction
10x Research’s founder Markus Thielen, who correctly predicted bitcoin’s [BTC] recent drop to $38,000, is now seeing levels above $43,000 appropriate for taking fresh bullish bets on the cryptocurrency. Thielen's bullish view is based on the Elliot Wave theory, which assumes that prices move in waves rather than simple patterns, and future movements can be predicted by observing the repetitive wave pattern. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

Bitcoin Miner Hut 8 Fires Back at Short-Selling Report
Hut 8 Corp. (HUT) shares slid more than 23% on Jan. 18 when short-selling firm JCapital Research said the USBTC merger had the makings of a pump and dump. CoinDesk's Amitoj Singh presents "The Chart of the Day."

Shipping Traffic Issues Could be Unwelcome Development for Bitcoin Bulls
Disruptions to commercial shipping traffic via the Red Sea/Suez Canal route threaten to push up prices. And that's an unwelcome development for bitcoin bulls. CoinDesk's Amitoj Singh presents "The Chart of the Day."
