Ndax Weekly TL;DR Febraury 10th

• MicroStrategy Rebrands to Strategy, Reinforcing Bitcoin Focus
• Near Foundation Launches $20 Million Fund to Accelerate AI Agent Development
• Canada Adds 76,000 Jobs in January, Unemployment Drops to 6.6% Amid Trade Uncertainty
• Ethereum Raises Gas Limit for the First Time Since the Merge

MicroStrategy has officially rebranded to "Strategy," aligning its name with its ongoing commitment to Bitcoin. The change simplifies the company’s brand identity while emphasizing its Bitcoin Treasury Strategy, as reflected in its new logo featuring the Bitcoin "B" and an orange color scheme. Originally a software and infrastructure company, Strategy has pivoted in recent years to focus primarily on Bitcoin accumulation. The rebranding comes ahead of the company's fourth-quarter earnings report, set to be released on Wednesday. Cointelegraph

The Near Foundation has launched a $20 million fund to support the growth of AI-driven applications on its blockchain, including gaming, market-making, and decentralized oracles. This initiative is part of Near's strategy to lead the integration of AI with decentralized technologies. The fund aims to back agent tokens that enable innovative use cases, such as AI-powered gaming and financial services. Beincrypto

Canada's labour market posted a net gain of 76,000 jobs in January, surpassing forecasts and marking the third consecutive monthly increase. The unemployment rate unexpectedly dropped to 6.6%, despite predictions of a rise. Private sector hiring led the gains, with manufacturing adding 33,000 jobs. While the strong job growth signals economic resilience, concerns over potential US-Canada trade tensions continue to cloud the outlook. The Bank of Canada recently cut interest rates but may hold off on further reductions unless economic data weakens. Market expectations for a March rate cut have now dropped to 58% from 72% before the report. Yahoo Finance

Ethereum has increased its network gas limit for the first time since transitioning to proof-of-stake in 2022. The new limit, set at 32 million gas units with expectations to reach 36 million, was approved by a validator vote. This change allows more transactions per block, reducing congestion and improving efficiency for DeFi and dApps. However, it also increases processing demands on network nodes. Ethereum co-founder Vitalik Buterin highlighted ongoing efforts to balance scalability with decentralization, mentioning EIP-4444 and the upcoming Pectra update in March. CryptoSlate

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News Nuggets

• Ethereum Developers Target April for Pectra Upgrade, Testing Begins in February CryptoSlate
• Shiba Inu Partners with UAE Ministry of Energy for Blockchain Integration CoinDesk
• Sui and Libre Capital Partner to Expand On-Chain Access to Institutional Investment Funds Cryptonews 
• FTX to Begin Creditor Repayments on February 18, 2025, with 9% Interest Cryptonews 
• Phishing Attack Targets Phantom Wallet Users with Fake Update Pop-ups Cointelegraph 
• El Salvador Revokes Bitcoin’s Legal Tender Status After IMF Agreement Cryptonews 
• Missouri Bill Proposes Bitcoin Reserve Fund for State Investments Cointelegraph 
• Czech Republic to Remove Taxes on Long-Term Crypto Gains, Considers Bitcoin Reserves CoinDesk

As of 02-10-2025 at 9:15 AM EST
Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has increased from CA$4.54 trillion to CA$4.61 trillion.
• Bitcoin's market dominance stands at 60.6%, while Ethereum's share is 10.1%.

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$137K and CA$141K registering a 0.9% change over the past week and a market cap of CA$2.8 trillion. At Ndax, the weekly movers are LTC, which saw a 20% increase in the last seven days reaching a market cap of CA$12.7 billion, and ATOM, which experienced a 9% rise with a market cap of CA$3 billion.(At time of writing)

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Mark your calendars!

• Feb 11 – Axie Infinity (AXS) Token Unlock 
• Feb 13 – US Initial Jobless Claims 
• Feb 14 – The Sandbox (SAND) Token Unlock 
• Feb 16 – Avalanche (AVAX) Token Unlock 
• Feb 16 – Arbitrum (ARB) Token Unlock 

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