The first line | altcoin market pullback, Litecoin has been rising for a week

Daily Digest: SEC Confirms Acceptance of DOGE ETF Application, Litecoin May Be the Next Approved Cryptocurrency ETF

According to Farside Investors data, yesterday, the net outflow of the US Bitcoin spot ETF was 183 million US dollars, of which Grayscale GBTC had a net outflow of 6.9 million US dollars, and Fidelity FBTC had a net outflow of 94.5 million US dollars; the net inflow of the US Ethereum spot ETF was 0.8 million US dollars, Grayscale ETHE had a net outflow of 3.8 million US dollars, and Fidelity FETH had a net inflow of 4.6 million US dollars.

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

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

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

JPMorgan analysts stated that in order to comply with the proposed stablecoin regulations in the United States, Tether may need to sell some non-compliant assets — including Bitcoin, precious metals, corporate notes, and secured loans.

The United States has proposed two stablecoin bills: the STABLE Act in the House of Representatives and the GENIUS Act in the Senate, aiming to regulate stablecoin issuers through licensing requirements, risk management rules, and 1:1 reserve support.

According to the STABLE Act of the House of Representatives, Tether only has 66% of the reserves that meet the requirements, while according to the GENIUS Act of the Senate, the proportion of reserves that meet the standards is 83%.

Bloomberg Analyst: Litecoin ETF Could Be the First Approved New Cryptocurrency ETF

On February 14th, Eric Balchunas, a senior ETF analyst at Bloomberg, responded on social media to the issue of 'the current progress of major altcoin ETF approvals,' saying, 'In baseball terms, most are still on first base, except for Litecoin, which is heading towards third base.'

Market Analysis: BTC continues to fluctuate, Litecoin has been rising for a week

Market Highlights:

Litecoin has been affected by the news of the upcoming ETF, and has seen a continuous rise for a week, rising from a low of $80 at the beginning of this month to $126.07 at the time of writing.

UniLayer token has surged by 2208.24% in the past 24 hours. Unilayer is a multi-chain DEX trading platform based on AMM, providing advanced trading tools for professional traders, with Launchpad functionality at the same time.

Market trend:

BTC volatility continues, with US BTC spot ETFs having net outflows for 5 consecutive days and maintaining volatility in the range of 94,000 to 98,000 this week;

ETH follows the market trend obviously, resonates with the overall market, and the activity of the US ETH spot ETF funds keeps weakening;

Most altcoins saw a slight pullback in most sectors, while the PayFi sector rose against the trend. The leading project XRP recorded a 3.38% increase in the past 24 hours, Litecoin(LTC) rose by 2.54%, and Telcoin(TEL) surged by 13.22%.

Macro news: U.S. stock market sentiment has picked up significantly, and PCE data has risen modestly

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

President Trump signed a presidential memorandum on Thursday proposing to implement equivalent tariffs, but did not immediately implement them, easing concerns for some investors. Lutnick, the nominee for U.S. Secretary of Commerce, predicted that the new tariffs would be implemented on April 2.

The data released before the Thursday market showed that the U.S. January PPI increased by 0.4% month-on-month, higher than the market's expected 0.3%; the core PPI excluding food and energy rose by 0.3%, in line with expectations. Although the latest PPI data is still relatively high overall, the categories related to PCE data have risen more moderately. The PCE price index is a key inflation indicator closely watched by the Federal Reserve.

Author: Orisi T., Gate.io Researcher *This article represents only the author's point of view and does not constitute any trading advice. Investment is risky, so decisions need to be cautious. The content of this article is original, and the copyright belongs to Gate.io. If you need to reprint, please indicate the author and source, otherwise legal responsibilities will be pursued.