1. Popular Coins on CEX
Top 10 CEX Trading Volume and 24H Price Change:
BTC: - 3.23%
ETH: - 0.26%
SOL: + 2.77%
Doge: + 1.78%
XRP: + 1.85%
TRUMP: + 2.33%
IP: + 25.18%
SUI: + 4.88%
LTC: + 0.76%
KAITO: + 3.06%
24H Gainers (Data from OKX):
XCH: + 28.54%
IP: + 26.25%
PUNT: + 20.67%
MOODENG: + 18.59%
ACT: + 17.65%
VINE: + 16.84%
NEIRO: + 16.15%
MEMEFI: + 16.14%
MKR: + 15.47%
AIXBT: + 14.98%
2. 24H Hot Searched Coins
IP, bucking the trend and rising;
PI, an old "community coin" that has been listed on exchanges like OKX;
KAITO, with an airdrop ongoing, has been listed on Binance and other exchanges.
Headlines
According to official information, in order to continuously drive innovation and improve user trading experience, Binance has launched a new feature - the circuit breaker mechanism in the Binance Pre-Market. The circuit breaker mechanism will limit the maximum trading price in the pre-market within the first 72 hours, and the token price increase will not exceed a certain percentage of the initial opening price. After the first 72 hours of pre-market opening, there will be no more price restrictions, and trading will resume normally. Please note: This circuit breaker mechanism is currently being tested only for the RED token issuance, and it is not yet certain whether this feature will become a long-term function of the pre-market in the future.
Babylon Airdrop Registration is Now Open, Lasting for 18 Days
According to official information, the Babylon airdrop registration is now open and will last for 18 days. Eligible users for the airdrop include: first-stage stakers (first-stage staked Pioneer pass NFT holders can receive additional bonuses); Babylon first-stage Finality providers; qualified contributors to eligible Github repositories.
Bitwise Completes $70 Million Funding, Participated by Electric Capital and Others
Crypto asset manager Bitwise announced the completion of a $70 million funding round, with participation from Electric Capital, MassMutual, MIT Investment Management Company, Highland Capital, Haun Ventures, and ParaFi Capital. Currently, Bitwise manages $12 billion in client assets and has over 100 employees.
Analyst: If BTC Breaks Below $85,000 Support, It May Face the Risk of Free-Fall to $81,000
Bitcoin has over $100 million in long liquidations below $85,000, and the sharp volatility may signal a retest of the $81,000 support level. Bitget Research Chief Analyst Ryan Lee said that the main reason for the current sell-off is the decreased risk appetite of crypto investors, and BTC price is fluctuating in the consolidation range and has fallen to the $89,000 level, with shorts also retracing below the support. If the bearish behavior continues, it may test the next support level around $86,000 and $81,000. GRVT co-founder and CEO Hong Yea said: "The $85,000 price level is crucial, and if BTC breaks below that support, it may trigger further declines." (Cointelegraph)
Industry News
US SEC Drops Investigation into Uniswap Labs
The US SEC has dropped its investigation into DeFi company Uniswap Labs. Earlier, the SEC had issued a warning to Uniswap Labs last April, planning to take enforcement action against the company.
Bybit Registers with Indian Regulator, Resumes Full Trading Services
According to Cointelegraph's post on X platform, Bybit has completed registration with the Indian financial regulator FIU-IND and resumed full trading services. Bybit has paid a fine and will operate within the Indian regulatory framework, and Bybit's non-profit initiative "Blockchain for Good Alliance" has also established partnerships with blockchain student associations at Indian universities such as IIT Delhi and IIT Kharagpur.
Following Coinbase and Robinhood, exchanges like Binance and Kraken may see a turning point, as the lawsuits against these platforms are based on the same regulatory logic as the Coinbase case. The SEC's decision to drop the lawsuit will set a precedent. Regulatory expert Amy Lynch said the SEC's enforcement of securities laws may also be "severely restricted", partly due to the influence of the government efficiency department (DOGE), as DOGE may scrutinize the SEC's internal operations more closely and attempt to streamline the agency. (businessinsider)
SEC Accepts Grayscale's Application for Cardano Spot ETF
The SEC has accepted the application submitted by NYSE Arca on behalf of Grayscale for a Cardano (ADA) spot ETF. Previously, the SEC had accepted numerous crypto ETF applications, including Cboe's XRP ETF and Grayscale's spot XRP and Doge ETFs. Earlier, NYSE Arca had filed a 19b-4 form on February 11th on behalf of Grayscale to establish the proposed Grayscale Cardano Trust. According to the filing, the custodian will be Coinbase Custody Trust Company, LLC, and the administrator will be The Bank of New York Mellon Asset Servicing. (Cointelegraph)
Project News
The Aave community has voted overwhelmingly to discontinue lending services on the Polygon PoS chain, primarily due to opposition to Polygon's proposal last December to use over $1 billion in cross-chain stablecoins for yield generation. Aave founder Marc Zeller has proposed strict risk parameter recommendations aimed at preventing further deposits or borrowing. He believes Polygon's yield generation method carries too high a risk and could lead to bad debt issues. Aave is the largest decentralized application on Polygon, with over $300 million in TVL. Polygon Labs CEO Marc Boiron had previously stated that the ideal outcome would be for Aave to abandon the termination plan, but the Aave DAO has passed the relevant proposal, adjusting the stablecoin LTV to 0% to prevent borrowing. Currently, over 690,000 votes support leaving Polygon, while about 117,000 are against it.
Coinbase International to List VIRTUAL, KAITO and B3 Futures
Coinbase International Exchange and Coinbase Advanced have announced on X platform that they will list VIRTUAL, KAITO and B3 futures contracts, with trading to be opened on or after February 27, 2025 at 9:30 AM UTC.
TOLY Surges 70% in the Short Term as Solana Co-Founder Toly Opens Exclusive Chat Group on time.fun
Solana co-founder Toly has opened an exclusive chat group on the time-tokenization platform time.fun, with users needing to hold 25 TOLY to join. This news has caused TOLY to surge 70% in the short term, with the price currently reported at $149 and a market cap of $15 million. The trigger was a community member's request for Toly to open a chat group feature, with the threshold set high enough to prevent spam, and many builders hoping to share what they are building, to which Toly responded positively.
Infini has released the latest news on funds and operations on the X platform, which discloses that Infini's funds are currently deposited in the Cobo Custodian Wallet, and all functions of the Infini Card (transfer, deposit, withdrawal and payment) can be fully operational. The team is working to ensure the highest security of the Infini Earn function, a process that is expected to take 3-4 weeks, during which time income distribution will be temporarily suspended, and information will be updated as soon as Infini's earnings resume.
Investment and Financing
Mavryk Dynamics Completes $5.2 Million Financing, Led by Ghaf Capital
RWA blockchain development company Mavryk Dynamics announced the completion of a $5.2 million financing round, led by Ghaf Capital, Big Brain, MetaVest Capital, Cluster Capital, Collective Ventures and Atlas Fund. Mavryk Dynamics aims to simplify RWA tokenization and DeFi integration, making digital asset ownership more accessible. (Coindesk)
Personalities & Voices
Matrixport: Bitcoin breaks below key formation, low trading volume warns of downside risk
Matrixport released a chart today, showing that Bitcoin has broken below the rising expanding wedge, which, although not what we would hope for, usually signals downside risk, unless the price can quickly rebound and return within the wedge. The possibility of further downside for Bitcoin is high, especially since this breakdown occurred during a period of low trading activity, limiting the demand for buying the dip. While we expect the price to have upside potential in the second half of the year, this technical breakdown has made the market sentiment more cautious. In addition, not only has Bitcoin broken down, but Ethereum has also fallen below the critical support range of $2,600 to $2,800.
Vitalik Buterin posted on the X platform, stating that Aya Miyaguchi proposed the idea of transitioning from Executive Director to Ethereum Foundation Chair a year ago, and during her seven years as Ethereum Foundation Executive Director, she has achieved many accomplishments and will continue to support the Ethereum Foundation in many of the same ways in her new position. Meanwhile, Vitalik Buterin said he is continuing to explore the new Ethereum Foundation leadership structure and will soon release more information.
Bernstein reiterates bullish view on Bitcoin, maintains $200,000 target price
Bernstein reiterated its $200,000 Bitcoin price target, believing the current price correction presents a potential buying opportunity, describing the current price pullback in its research report as "another opportunity to participate in this cycle", and reaffirming its bullish stance on the Bitcoin market structure. Bernstein also pointed out that Bitcoin has not yet reached its cycle high, and it is expected to approach the $200,000 mark within the next 12 months. Their long-term forecast for Bitcoin is based on a simple argument: "Driven by accelerating institutional and sovereign demand, Bitcoin will become a thriving 'digital gold' asset class."(TheBlock)
Adam, a macro researcher at Greeks.live, released a Chinese community briefing, which pointed out that the market is generally turning bearish, and is optimistic about BTC's pullback to around $80,000. Most traders believe that ETH and SOL will continue to decline, but remain optimistic about BTC's medium and long-term outlook. The trend of traditional finance and cryptocurrencies converging is that BTC is gradually moving away from the crypto circle and becoming a value storage tool for institutional investors, with its correlation with other crypto assets decreasing.
Bybit CEO calls on eXch: Freezing Lazarus' funds can earn a 5% fee, stand on the side of the good
Bybit co-founder and CEO Ben Zhou posted on the X platform, "calling" eXch executive Sarah Nugent, saying: "By freezing Lazarus' funds, you can earn a 5% fee... This is much more than what you would earn from helping with money laundering... Stand on the side of the good."
Trump's son Eric Trump: Buy the dips
Eric Trump, son of former US President Donald Trump, posted on the X platform "₿uy the dips!!!", with the "B" replaced by the Bitcoin symbol, meaning to buy Bitcoin on the dips.
Regarding the previous community claim that Binance users' accounts were hacked and hackers stole coins through red envelopes, Binance co-founder He Yi responded on the X platform, stating that the user's email, Binance account, and Google authentication were all compromised, and the user knew their account was hacked.
