Market update
Cointree Crypto Market Update - February 12th 2025
Market report for traders
🔮 BTC and altcoins
Over the last 7 days, Bitcoin ends at AU$153,6013 moving -2.65% at the time of writing. Meanwhile, Ethereum ends at AU$4,177 moving -4.75% week-on-week. On the Altcoin side, Solana -1.88%, Dogecoin -4.85%, and XRP -4.19% change.
🗞 What’s happening in the news?
🐴 Uniswap Launches New Layer 2
Uniswap has announced the launch of Unichain, a Layer 2 solution they’re calling “the fastest chain in the industry.” According to Uniswap, the network has already processed over 88 million test transactions and is set to offer one-second block times alongside fees that are 95% cheaper than Ethereum.
“We’re here to make DeFi faster, cheaper, more decentralised,” said Uniswap Labs founder and CEO Hayden Adams. For traders, this could mean a significant reduction in costly gas fees, which have long been a sticking point on Ethereum. Still, some analysts warn that moving trading volume to L2 solutions may indirectly reduce Ethereum’s market capitalisation in the long run.
💰 Another Solo Bitcoin Miner Beats the Odds
Mining Bitcoin these days tends to be a large-scale affair, but every now and then, a single miner gets lucky. Recently, an unnamed solo miner processed Bitcoin block 883,181, earning 3.158 BTC for their efforts. At that moment, Bitcoin was priced at around US$98,300 (or AU$157,280) per coin, netting them roughly AU$496,000 in total rewards.
While the specifics remain unknown, it highlights that even in a market dominated by industrial mining facilities, individual enthusiasts can still strike it lucky from time to time.
🗑️ UK Landfill With AU$1.23 Billion in BTC to Close
A landfill site in Newport, Wales, is set to close in the 2025–26 financial year. For local IT worker James Howells, that’s bad news: he’s spent nearly a decade fighting for permission to search the rubbish tip for a hard drive he accidentally discarded, containing 8,000 BTC. At current prices, AU$1.23 billion, that’s a fortune stuck beneath years of waste.
Howells offered the local council a share of any recovered Bitcoin, claiming to have artificial intelligence experts ready to help locate the drive. However, environmental restrictions and low odds of success have led the council to reject the dig. For now, it seems that this legendary Bitcoin stash—part of an estimated three million “lost” coins—will remain buried.
📖 What we’ve been reading
Fed Chair Jerome Powell Says No US CBDC Under His Watch
Powell confirmed in a Senate Hearing on Tuesday that the U.S. won't issue a central bank digital currency or CBDC while he's in charge.
Ethereum Is in One of Its 'Deepest Undervaluation Zones in Years'
Historical data that suggests Ether could be "poised for a potential rebound in February."
Thai Police Seize $2.5 Million USDT from Alleged Scam Operation
A Tether spokesperson said it demonstrates “every transaction is traceable, every asset can be seized, and every criminal can be caught.”
*Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.*
