Spot Gold Reclaims $4800 Per Ounce

On February 3, self-hosted digital bank Tria unveiled its TRIA tokenomics. The total supply of TRIA tokens is 10 billion, with a genesis circulation of 2,188,520,000 tokens—21.89% of the total. Of the genesis circulation, 41.04% is earmarked for the community, 18% for the foundation, 15% for ecosystem and liquidity, 13.96% for investors, and 12% for core contributors.

On February 3, Bitwise CEO Hunter Horsley announced on social media that he has again increased his Bitcoin holdings, noting he “couldn’t resist the price range below $80,000.” He also boosted his position in BITQ and expressed a bullish outlook on crypto-related stocks overall.

Feb. 3 — According to Bloomberg, the core driver behind Bitcoin’s current “slow” selloff is that the group of investors expected to step in as key support and a new stable buying force has failed to keep entering the market. Glassnode data shows U.S. Bitcoin spot ETF investors have an average cost basis of roughly $84,100. With Bitcoin currently hovering around $78,500, this group is sitting on a paper loss of 8-9%. This isn’t the first time ETF investors have been underwater. Back in November 2023, when Bitcoin briefly fell below $89,600 — the average cost basis for ETF investors then — analysts noted this would be a key test of the new mainstream investors’ conviction. Though still profitable amid inflows into early 2024, the overall average cost basis for ETF holders has fallen, and latecomers are now all underwater. From its peak, Bitcoin has dropped more than 35% from its 2024 high and briefly dipped below $77k during a low-liquidity weekend trading session. Analysts cite mu

Feb. 3 — In a Feb. 2 interview with CNBC, Stephen Roach, a two-time winner of China’s Most Influential Economist title, stated: “While it’ll take some time for the dust to settle, we think silver’s bottom is in the $75-$80 per ounce range, and gold’s floor is around $5,000 an ounce or lower.”

Per Onchain Lens monitoring, the team allocation wallet for meme coin TRUMP transferred 5.267 million TRUMP tokens to a BitGo custody wallet on February 3, with the transaction valued at approximately $22.44 million.

Feb 3 — Per Onchain Lens monitoring, an 8-year dormant Bitcoin address "3BTqd" has transferred 243 BTC (valued at roughly $19.15 million) to crypto exchange Gemini.