1. Popular currencies on CEX
CEX top 10 trading volume and 24-hour rise and fall:
BTC: +4.04%
ETH: +3.78%
SOL: +1.93%
ADA: +3.35%
XRP: +4.49%
TRUMP: +2.41%
DOGE: +2.69%
KAITO: +17.61%
SUI: +5.54%
PNUT: +2.58%
24 H increase list (data source: OKX):
ONDO: +19.87%
KAITO: +18.84%
BCH: +16.58%
CFG: +13.10%
APT: +12.60%
LINK: +12.57%
JTO: +12.15%
MOVE: +11.65%
CRO: +11.15%
INJ: +10.93%
2. Top 5 popular memes on the chain (data source: GMGN ):
WILDNOUT
BTRUMP
DD
47th
FAFO
3. 24-hour hot search currencies
DD, or DJ Daniel, is a 13-year-old boy from Texas, USA, who suffers from rare brain and spinal cancer. In 2018, doctors predicted that he would only live for five months, but more than six years later, he is still alive and dreams of becoming a policeman. Trump specifically mentioned DJ in his previous speech, praising his persistence and love for the police, and awarded him an honorary badge on the spot. Subsequently, the Meme coin gained some market attention.
Headlines
MT.GOX Begins Moving $1 Billion in Bitcoin
According to Arkham data, MT GOX, once the worlds largest Bitcoin exchange, has begun to transfer Bitcoin assets worth about $1 billion. This move has attracted great attention in the cryptocurrency market and may have a significant impact on Bitcoin prices.
MT.GOX went bankrupt in 2014 after a hacker attack that cost it around 850,000 bitcoins. After a lengthy creditor compensation process, the exchange is now returning funds to users. The movement of this huge amount of bitcoin could cause market volatility as some long-term creditors may choose to sell the bitcoins they received.
Coinbase is resurrecting plans to tokenize its COIN shares and other securities
Coinbase is restarting plans to tokenize its COIN shares and other securities in the United States after the U.S. Securities and Exchange Commission established a new cryptocurrency working group. The plan was first attempted in 2020 but abandoned due to regulatory obstacles. With the SECs new cryptocurrency working group, the company sees new opportunities to integrate blockchain into traditional finance. Coinbase CFO Alesia Haas said during the Morgan Stanley TMT Conference that Coinbase may introduce some widely adopted crypto products in the international market to the U.S. market, and looks forward to seeing more assets on the chain and trading in a more efficient way. Security tokens operate similarly to traditional securities, but trading on the chain can provide investors with voting rights and profit-sharing mechanisms while improving transaction efficiency.
Source: U.S. sovereign wealth fund to be funded by tariffs
Michael Grimes, a tech investment banker who left Morgan Stanley last month to take a senior position at the U.S. Commerce Department, is expected to lead the U.S. sovereign wealth fund announced by Trump, two people familiar with the matter said. The fund is supported by tariffs imposed on foreign countries, and discussions are at an early stage and plans may change. Trump has previously said the proposed new fund could be funded by tariffs and other smart things. One source said tariff revenue could be provided by the so-called External Revenue Service, which Trump wants to set up to handle revenue from taxation. Grimes led several high-profile tech IPOs at Morgan Stanley, including Meta, Uber and Airbnb. He advised Musk on his acquisition of Twitter. Morgan Stanley was also the main investment bank for Teslas IPO.
Market News: Robinhood CEO says Trump may pass stablecoin legislation this year
According to market news, Robinhood CEO Vladimir Tenev said Trump may pass stablecoin legislation this year.
The US crypto reserve may be announced at the first White House crypto summit on Friday. US Commerce Secretary Howard Lutnick said that Trump is interested in the Bitcoin strategic reserve, and other tokens may be treated differently. He revealed that Bitcoin will get a unique status under Trumps plan. Howard Lutnick added: The Bitcoin strategic reserve is of interest to the president. He talked about this during the campaign, and I think you will see it implemented on Friday, so Bitcoin is one thing, other currencies, other crypto tokens, I think, will be treated differently - positively but differently.
Industry News
Canary Files S-1 for its AXL ETF
According to market news, Canary submitted S-1 application documents for its AXL ETF.
Bitwise Files S-1 Registration Statement for Its Aptos ETF
According to market news, Bitwise has submitted an S-1 registration statement for its Aptos ETF. As previously reported, on February 27, the Bitwise Aptos ETF was registered in Delaware, USA.
Franklin Templeton pointed out in a report on Tuesday that the growth rate of the Solana DeFi ecosystem is much faster than that of Ethereum, and its revenue is also higher, but its token valuation is still significantly low, and there is a phenomenon of value asymmetry. The report compares the leading DeFi projects in the two ecosystems, Solana and Ethereum. Data shows that the average annual fee growth of the Solana project is 2400%, and the valuation multiple is only 9x, while the fee growth of Ethereums related projects is only 150%, but the valuation multiple is as high as 18x. The report further pointed out that DeFi may be entering a new era dominated by the Solana Virtual Machine (SVM), and the historical dominance of the Ethereum Virtual Machine (EVM) in the DeFi field is facing challenges. Despite this, Franklin Templeton remains optimistic about the long-term development of Ethereum, believing that its expansion strategy for Layer 2 solutions has made progress and promoted the scalability of the entire network. But in terms of market pricing, the value mismatch of Solana DeFi tokens may not last long. As the Solana ecosystem continues to demonstrate its resilience on the decentralized computing platform, the market may gradually adjust its valuation, bringing the price of Solanas leading DeFi project in line with Ethereums blue-chip protocol.
The Ethereum Foundation published a post on its official blog that the Pectra network upgrade had previously been launched on the Sepolia testnet, but it was later discovered that there was a problem with Sepolias licensed deposit contract, which caused many execution layer clients to be unable to include transactions in blocks. The cause of the problem was quickly determined, and the client team immediately began to work on a fix. The problem is specific to Sepolias testnet configuration and is unlikely to occur on the Ethereum mainnet. At present, the validator has deployed a fix to restore the network to normal throughput. All Sepolia node operators must now upgrade their execution layer clients to maintain network compatibility.
Ripple-backed US National Cryptocurrency Association officially launched with $50 million in funding
The Ripple-backed National Cryptocurrency Association (NCA) has been officially established and received a two-year $50 million grant to help Americans better understand the crypto industry and provide resources for anyone who uses, holds, or wants to learn more about cryptocurrencies. It is reported that the NCA will provide crypto knowledge resources, video tutorials, practical guides, etc., and plans to carry out national promotion activities, community activities and courses, and will release a survey report on 10,000 American crypto holders this month. Data shows that 21% of Americans may have used cryptocurrencies, and 76% believe that cryptocurrencies have a positive impact on their lives.
Ethereum’s MVRV indicator hit 1.01 yesterday, its lowest level since October 2023, when ETH was trading just below $1,600.
MVRV can be used to identify market tops and bottoms. Historical data shows that around 1.01 often marks a local bottom, but such low values are rare during bull markets.
Typically, sharp declines in this indicator occur in bear markets, and at deeper cycle lows, MVRV may even fall below 0.70.
Project News
MegaETH: No airdrop rewards will be provided for testnet interactions
MegaETH has stated that it will not provide airdrop rewards for public testnet interactions. The purpose of the testnet is to conduct actual combat tests, allow developers to explore technology, and allow users to experience applications. (Airdropping to the testnet) is not in line with our style. Earlier news, MegaETH announced that it will deploy a testnet on March 6.
Trump family project WLFI spent 21.5 million USDC to buy ETH, WBTC and MOVE in 2 hours
According to @OnchainLens, the Trump family project World Liberty Finance spent $21.5 million USDC in the past 2 hours, purchased 4,468.39 ETH at $2,238 for a total of $10 million, 110.6 WBTC at $90,415 for a total of $10 million, and 3,420,039 MOVE at $0.438 for a total of $1.5 million.
The Kaito team responded to the previous large transfer on the chain, saying that it was not the movement of tokens from the teams holding address. The relevant transfer was a normal loan operation by the market maker. The loan has been completed on schedule and the tokens have been returned to the original wallet in full. According to previous news, Ai Yi, an analyst on the chain, monitored that the Kaito team was suspected of selling 2 million KAITOs, about 4.1 million US dollars. The address 0x 8 D 0...4 af A9 received 25 million KAITOs from a multi-signature address two weeks ago, and transferred 5 million to a new address 22 hours ago. Currently, 2 million have been deposited into Binance.
People familiar with the matter: Jump is expanding its US staff and recruiting encryption engineers
Chicago-based trading giant Jump is returning its U.S. cryptocurrency business to full strength after scaling back its U.S. cryptocurrency business in the past few years due to regulatory scrutiny and uncertainty. While Jump has maintained its digital asset trading and market-making activities in other parts of the world, cryptocurrency trading volumes in the U.S. are now accelerating, according to a person familiar with the matter. In addition, another person familiar with the matter said Jump is looking to hire a group of crypto engineers and plans to start filling the position of U.S. policy and government liaison in due course. Another potential area of exploration for Jump is participating in the U.S. crypto ETF market, but the company declined to comment on the matter.
Circle: Linea bridge standard will be upgraded to support native USDC in the coming weeks
Circle announced that native USDC will soon be available on Linea. In the next few weeks, Circle will upgrade Lineas bridged USDC standard implementation to natively issued USDC. Linea will soon gain support for CCTP V2 after the mainnet is launched, thus achieving cross-chain settlement faster than finality.
Investment and Financing
CoreWeave to acquire AI developer platform WeightsBiases for $1.7 billion ahead of IPO
AI supercomputing company CoreWeave plans to acquire AI developer platform Weights Biases for $1.7 billion before its IPO. The financial terms of the transaction have not yet been disclosed, but the transaction has been submitted and is expected to be completed in the first half of this year. CoreWeave filed an initial public offering (IPO) application yesterday. The company expects to raise $4 billion and be valued at more than $35 billion.
Foundation Capital announced the raising of $600 million for its eleventh fund, a 20% increase from the previous one. The company focuses on seed round investments and was one of the first institutional investors in Solana and Cerebras, focusing on emerging markets such as artificial intelligence and cryptocurrency.
When Cerebras was invested in 2016, the AI chip market had not yet taken shape. Today, Cerebras is valued at $4.25 billion. The company has returned $1.4 billion to investors in the past three years, and recent successful exits include EvolutionIQ ($730 million) and Venafi ($1.5 billion).
The fund expansion is aimed at responding to the increase in the size of seed and Series A financing, while maintaining a 15%-20% shareholding ratio. Last year, senior partner Charles Moldow retired and the company is now managed by four partners.
Regulatory trends
South Koreas Bitcoin ETF decision-making enters a critical stage, referring to the Japanese model
South Korea is gradually approaching a Bitcoin ETF decision. The Financial Supervisory Service of South Korea has reviewed the legislative trends of the Japanese Financial Services Agency on digital assets and shared them with relevant domestic agencies. Japan has previously been cautious about digital assets, but is now considering positioning cryptocurrencies as financial products and may lift the ban on crypto ETFs.
Kim So-young, vice chairman of the Financial Services Commission of South Korea, said that spot Bitcoin ETFs will be carefully reviewed. It is worth noting that more than 30% of South Korean citizens invest in crypto assets, and despite political turmoil, the government is still advancing crypto regulation, including allowing charities and universities to sell cryptocurrency donations from the second half of 2025.
Singapores Minister of State for Home Affairs Sun Xueling reiterated the determination of various government agencies to combat fraud during the debate on the Ministry of Home Affairs expenditure budget at the Parliamentary Committee of Appropriations on Tuesday, and will further strengthen existing anti-fraud measures, regulations and education. She specifically mentioned cryptocurrency fraud, which accounted for a quarter of the total amount of losses involved in fraud last year. She said that fraudsters have recently realized that banks are closely monitoring and it is difficult to find loopholes. They have instead instructed victims to convert their money into cryptocurrency before remitting it, thereby circumventing the review mechanism. There are also fraudsters who directly steal assets from victims cryptocurrency wallets. Faced with repeated fraud cases, the Ministry of Home Affairs does not rule out the use of caning to punish those who commit serious fraud crimes.
Russia’s Ministry of Finance May Allow Qualified Investors to Trade Cryptocurrencies
The Russian Ministry of Finance and the Central Bank of Russia are discussing the launch of cryptocurrency trading in Russia within the experimental legal framework (EPR). Alexey Yakovlev, head of the Ministry of Finance’s Financial Policy Department, revealed this to reporters.
Transaction participants will fall into a category of “super-qualified” investors, for which criteria are still being developed.
“We are studying how to launch the domestic cryptocurrency trading market within an experimental legal framework. But this involves ‘super-qualified’ investors, an as-yet undefined category whose criteria we are determining,” Yakovlev said at the Asset Management Market Leaders Forum.
Yakovlev added that the Ministry of Finance hopes that this plan can be implemented in the near future. There are three key factors: an experimental legal framework, super-qualified investors, and control of all risks. If all three factors are achieved, then we may come up with a plan and submit it to the government for consideration. At present, this is still at the discussion stage between the Ministry of Finance, the Central Bank and market participants.
In early August 2024, Russian President Vladimir Putin signed a law that allows cross-border payments and cryptocurrency transactions within an experimental legal framework from September 1, 2024. The central bank was designated as the authorized regulator in this area.
Character Voice
According to Fox Business reporter Eleanor Terrett, U.S. Securities and Exchange Commission Commissioner Hester Peirce said: The Crypto Working Group has begun to determine what is not within the SECs domain. It is important to understand what is within the SECs purview and what is not. Hester Peirce also said that it is very important to involve the public in rule-making discussions, and people affected by the rules should have the right to participate in rule-making.
Matthew Sigel, director of digital asset research at VanEck, said in a post, It is estimated that the combined effect of the SIMD 096 and SIMD 0228 proposals will reduce the annual selling pressure of SOL by $677 million to $1.1 billion. While SIMD 096 increased tax-related selling pressure by canceling the 50% priority fee destruction mechanism, SIMD 0228 is expected to completely offset this effect. Solanas SIMD 0228 proposal is now open, aiming to shift SOL issuance to a market-driven model. The proposal sets a target staking rate of 50% to enhance the security and decentralization of the network. If more than 50% of SOL is staked, the issuance will decrease, thereby inhibiting further staking by reducing yields; if less than 50% of SOL is staked, the issuance will increase to increase yields and encourage staking. The minimum inflation rate will be 0%, while the maximum inflation rate will be determined based on Solanas current issuance curve.
Bitwise CIO: The US Strategic Crypto Reserve is the first shot in the global BTC arms race
Matt Hougan, chief investment officer of Bitwise, said in his investment memo: Trump is like a game changer. The establishment of the US Crypto Strategic Reserve will be seen as the first shot in a Bitcoin arms race and will trigger a domino effect. Honduras, Mexico or Guatemala, and then look at El Salvador. Now it is the turn of the United States to acquire Bitcoin. Will countries such as Dubai, Qatar or Saudi Arabia envy the United States leading position? Countries may regard Bitcoin as an important monetary asset.
Binance co-founder CZ wrote that it is easy to predict the crypto trend in the next 10 years, but it is difficult to predict tomorrows trend.
Trump announced last week that he plans to include tokens including XRP in the US strategic crypto reserves. Investors are betting on the chances of the XRP ETF being approved. The probability of related predictions on Polymarket has reached 78%. Analysts at JPMorgan predict that if the XRP ETF is approved, it may attract $8 billion in capital inflows in the first year.
