AI relief rally meets BTC drag

Equities rallied with the Nasdaq up 2.15% and the S&P 500 up 1.39% after Nvidia beat earnings and projected $65 billion in Q4 revenue. In contrast, Bitcoin (BTC) fell 1.66%, with almost all sectors closing in the red except for a few, notably meme coins and Layer 2s, which held better. The weakness in BTC was attributed to OG Bitcoin whales looking to sell as BTC struggled to reclaim the key $100,000 level. Aave’s total value of assets grew 2.6x YoY to a peak of $74 billion, indicating sustained demand despite BTC struggles. Aave's new app aims to simplify the user experience, offering competitive interest rates on deposits. However, uncertainties regarding insurance details raise questions for potential users. On Solana, while it has advanced with tokenized stocks, it lags behind in perpetual trading compared to Hyperliquid. The distribution advantage of Hyperliquid raises concerns about Solana's ability to compete moving forward.

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