Blofin Academy

Blofin Academy

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Professional crypto market analysis & insights. "Scientia est fons divitiarum"

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Bitcoin is up 13% since the Feb 27 conflict outbreak, outperforming gold and tech stocks (IGV). The correlation with IGV finally started to break. Yet perp funding rates remain negative, the longest stretch since the 2022 bear market bottom based on the 30-day average annualized funding rate. The decoupling narrative is back, and it is not leverage-driven. Perp funding rates remain negative, indicating leveraged longs are not leading this move. Spot demand is driving the rally. twitter.com/BloFin_Academy/sta...

Token → Equity is becoming real. Across Protocol is proposing an ACX token-to-equity conversion, and ACX price has jumped almost 70% in the past 24 hours. The project is exploring a U.S. C-corp model where token holders can exchange ACX 1:1 for equity or redeem at a 25% premium. #ACX

It seems you can’t carry gold across a war zone and end up selling it at a steep discount. Yet there is something you can carry across a border with millions in value, simply by remembering 12 words. That thing is called Bitcoin. twitter.com/BloFin_Academy/sta...

Bitcoin surged to a one-month high above $73,000, a sharp reversal after five consecutive monthly losses. However, conflicting forces are behind the rally.🧐 1/ Institutional demand returned: spot Bitcoin ETFs recorded $1.7 billion in net inflows over the past two weeks, the largest in months. Institutional investors are buying the dip. This is also reflected in the Coinbase Bitcoin Premium Gap. 2/ However, supply-side concerns emerged. Several public miners pivot toward AI and high-performance computing, funding capex by selling BTC reserves. Bitdeer already liquidated its BTC holding, CleanSpark and Riot reshuffling leadership to speed up AI transition, and rumors about MARA to sell part of its $4B BTC stash. Net impact-wise, miner distribution can dilute the lift from accumulation in the short term, but the AI pivot isn’t purely negative. With an additional revenue source from AI compute, it can help stabilize miners’ finances and reduce future forced selling.

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Recent Bitcoin rally is fueled by US onshore spot buying, as seen in the Coinbase Bitcoin premium gap. x.com/JA_Maartun/sta…

💥 2026's episode of the Iran Conflict has officially begun, and while the safety of innocent civilians should be everyone's top priority, crypto markets have had to weigh a number of conflicting impacts. ⛏️ Iran contributes 2-5% of Bitcoin's hashrate through state-subsidized farming operations and 425,000+ "underground" mining devices, the use of which consumes the equivalent of several provinces worth of electricity demand. ⚡️ The strain upon its failing grid has pushed the Iranian government to seize 250,000+ rigs, impose strict fines on their unapproved usage and shutdown licensed operators during periods of peak demand. 🏦 Through sanctioned operations and the forced sale of mining proceeds to the Central Bank of Iran, the state has accumulated a crypto war-chest of around USD $4B-5.5B, vital for war financing, capital flight defence and sanction evasion. 📊 Iran's civilian population holds another USD $4B-4.5B in cryptocurrency, thus while this weekend's events may reignite a safe haven-style bid for digital assets, the potential for hashrate disruption and emergency liquidation could temper expectations.

BloFin Weekly Crypto Alpha 🧾: The Age of Useful Crypto Crypto is increasingly being shaped by regulation, compliant products, and real-world utility. 🔹 Davos signal: consensus is forming that crypto’s next phase will be led by regulated institutions, while AI agents emerge as a credible new class of onchain users; 🔹 Tether launches USAT: a compliant, USD-backed stablecoin designed for the U.S. market post-GENIUS Act, targeting institutional distribution alongside USDT’s offshore dominance; 🔹 Ethereum ERC-8004: introduces identity and reputation standards for trustless AI agents, positioning Ethereum as a coordination and settlement layer for the coming agent economy. Read more: blofin.com/en/academy/blofin-c...…

BloFin Weekly Crypto Alpha 🧾: Onchain Utility, Offchain Control This week, we examine how tokenization is reshaping crypto, led increasingly by institutions. 🔹 NYSE plans a 24/7 blockchain-based platform for tokenized stocks and ETFs, regulated incumbents are taking the lead in tokenization; 🔹 Tokenized gold volume surges as gold hits new highs, with XAUT and PAXG surpassing many gold ETFs in volume and finding growing use in DeFi yield strategies; 🔹 Ethereum activity spike driven largely by low-cost address-poisoning scams, highlighting ongoing user-side security hurdles for mainstream adoption. Read more: blofin.com/en/academy/blofin-c...…

As a commodity supercycle unfolds, crypto has the potential to redefine what investors can do with gold and commodities investing. Gold prices push to repeated all-time highs, gold-backed tokens such as Tether’s XAUT and Paxos’ PAXG have also seen explosive growth, with trading volumes even surpassing those of most traditional gold ETFs. Historically, gold simply sat in a vault earning nothing. Today, tokenized gold is being deployed across DeFi to generate yield. For example, Uniswap’s PAXG/USDC pool allows liquidity providers to earn trading fees while maintaining exposure to gold, effectively turning a passive safe-haven asset into an income-generating one. This creates a significant opportunity for DeFi, as traditional commodity investments do not generate yield, and the ability to earn yield represents a meaningful enhancement that could accelerate DeFi adoption.

Perp DEXs will not displace Centralized Exchanges (CEXs) as the primary trading venue in the near term. Hyperliquid’s standout 2025 performance and airdrop-driven growth have catalyzed the Perp DEX sector. Weekly volumes surged from $81B in 2024 to $314.7B, while monthly volumes repeatedly broke the $1T barrier, making Perp DEXs the primary engine of crypto derivatives. This shift has triggered a wave of institutional on-chain expansion: Amber has incubated EdgeX; Binance has introduced Aster and StandX; Revolut launched Extended; and Bain Capital alongside Sequoia India has backed Variational. #hyperliquid #perpDEX

While the market's long-term bearish view on BTC remains unchanged, the latest gamma exposure distribution shows that market makers' hedging activities will continue to stabilise the price around $90k. The IV term structure also leans towards "stability" rather than "volatility." However, for ETH, although its IV term structure also leans towards stability, its GEX distribution suggests that market makers are struggling to smooth out volatility, and its price performance is expected to remain fragile.

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