Bitcoin ETFs experienced significant outflow during February. The sentiment toward memecoin trading has deteriorated in 

February 25th Market Opinion

aave, morpho, fluid, euler, kamino, maple finance

The DeFi Bedrock: Money Market Protocols

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<h2 class="heading-2"><strong>Headline News</strong></h2>
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<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxlgUdCfukC6RNXwQkzzjfN9ib" data-list="bullet">
<div>Bitcoin ETFs experienced the 5th consecutive weekly net outflow of $870.39 million last week, despite stablecoin market cap continued to increase by approximately $1.36 billion last week. Bitcoin price had a slight increase of 0.78% last week as macroeconomic uncertainty persisted.</div>
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</ul>
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<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxlg38NVEN0AnNhZWJHFo3ojLr" data-list="bullet">
<div>The trade war widens with President Trump new 25% tariffs on steel and aluminum imports. The European Commission reimposing countermeasures on &euro;26 billion worth of American goods, while Canada struck back with 25% levies on C$30 billion of American goods. Trump further threatened a 200% tariff on wine, champagne and other alcoholic beverages from the EU, if Brussels follows through with a 50% tax on American whiskey exports, starting on April 1. There is a <a rel="nofollow" href="https://polymarket.com/event/us-recession-in-2025">42%</a> chance U.S. will enter a recession in 2025 according to Polymarket.</div>
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<li class="ace-line ace-line old-record-id-JgiSdUl3xobMwYxGwZHljEXcgTc" data-list="bullet">
<div>The U.S. JOLTs job opennings increased to 7.74 million in January, higher than the market expectation of 7.63 million.</div>
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<li class="ace-line ace-line old-record-id-Xey1dd65oo4nibxLMaEl7CZLgPd" data-list="bullet">
<div>The U.S. inflation rate decreased to 3.1% in February, lower than the market expectation of 3.2%. Meanwhile, PPI was unchanged in February, below forecast of a 0.3% gain. Although, the latest inflation and PPI were below market expectation, core PCE in February is expected to increase by the range between 0.29% to 0.4% according to <a rel="nofollow" href="https://www.forexlive.com/news/goldman-sachs-sees-core-pce-029-20250313/">Goldman Sachs</a> and <a rel="nofollow" href="https://qz.com/inflation-stocks-prices-fed-interest-rates-1851769721">BofA</a>, overall higher upcoming PCE forecast.</div>
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<li class="ace-line ace-line old-record-id-FlScdFcaAoxFtyxOqGjlp4ifgOh" data-list="bullet">
<div>The market estimated 99% probability the rate will remain unchanged in the FOMC meeting this week.</div>
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<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxlg9q7OpDHUIW7DsvhKqA1xDe" data-list="bullet">
<div>Monday, March 17, 8:30pm: The U.S. Retail Sales in February</div>
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<li class="ace-line ace-line old-record-id-BChBdd8zPofpzHxNlAZlFijSgDg" data-list="bullet">
<div>Wednesday, March 19, 11:00am: Bank of Japan Interest Rate Decision</div>
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<li class="ace-line ace-line old-record-id-DH4RdSoOHocR51xvKUalrymXgfb" data-list="bullet">
<div>Thursday, March 20, 2:00am: FOMC meeting</div>
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<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-EXbJdxtlho2a9rxNDi0lSgt6gFe" data-list="bullet">
<div>The U.S. Senate Banking Committee approved the <a rel="nofollow" href="https://x.com/BankingGOP/status/1900203536828252161">GENIUS Act,</a> a bill aims to regulate stablecoin issuers. The bill will require further approval from the full Senate and House of Representatives.</div>
</li>
<li class="ace-line ace-line old-record-id-Sqykd8MSoopzJcxGHu6lt7wMgLh" data-list="bullet">
<div>The U.S. House passed a 292-132 resolution <a rel="nofollow" href="https://x.com/Cointelegraph/status/1899626398207426570">overturning</a> the IRS broker rule requiring DeFi platforms to collect user tax and transaction data.</div>
</li>
<li class="ace-line ace-line old-record-id-CQ38dthgOoGsYyxreAAl0k95gug" data-list="bullet">
<div>According to Fox Business, the U.S. SEC will soon resolve the legal case with <a rel="nofollow" href="https://www.coindesk.com/policy/2025/03/12/xrp-token-rises-after-report-that-ripple-s-close-to-wrapping-up-sec-case">Ripple</a> Labs.</div>
</li>
<li class="ace-line ace-line old-record-id-OOBCdvqkxoI0ENxPz52lGPRfgRz" data-list="bullet">
<div>Ripple received the first blockchain-enabled <a rel="nofollow" href="https://www.coindesk.com/markets/2025/03/13/ripple-bags-dubai-license-to-offer-crypto-payments-in-uae">payments provider license</a> from the Dubai Financial Services Authority to provide regulated crypto payments and services in UAE.</div>
</li>
<li class="ace-line ace-line old-record-id-doxlgaugaUrgVG988adLi32jfLh" data-list="bullet">
<div>Binance raised <a rel="nofollow" href="https://www.binance.com/en/blog/ecosystem/mgx-backs-binance-in-landmark-investment-6242106085221073480">$2 billion</a> from MGX, the Emirati state-owned investment firm, securing a minority stake in Binance.</div>
</li>
<li class="ace-line ace-line old-record-id-VzHLd76FkoyWxExfsFFlWa7igEb" data-list="bullet">
<div>World Liberty Finance purchased $2 million worth of <a rel="nofollow" href="https://intel.arkm.com/explorer/address/0xA713fc94db054AA435AF4d9c66c3433dCA98559F">AVAX and MNT</a> respectively.</div>
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</ul>
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<h3 class="heading-3 ace-line old-record-id-doxlgxPVlFnfiVqhgSwNKsmYJVh">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-OOlzdVKeSojaN2xwhsDlISOSgi4" data-list="bullet">
<div>Solana SIMD-0228 proposal to adopt a market-based emission mechanism has <a rel="nofollow" href="https://simd-votes.stakingfacilities.com/">failed</a> to reach threshold for yes vote.</div>
</li>
<li class="ace-line ace-line old-record-id-doxlgUabU179XPoeG6rPpqwEOSd" data-list="bullet">
<div>Nuffle (previously NEAR DA) rebranded to <a rel="nofollow" href="https://x.com/moremarketsxyz/status/1899385030994256351">MoreMarket</a>, introducing a global liquidity marketplace that enables cross-chain DeFi activities from a universal non-custodial account.</div>
</li>
<li class="ace-line ace-line old-record-id-MkS4dHS5DoraQExDgdIlsH1ygvf" data-list="bullet">
<div>Starknet echoed its goal to <a rel="nofollow" href="https://x.com/starknet/status/1899460308814716946">settle on both Bitcoin</a> and Ethereum, introducing more utilities with BTC and BitVM-powered bridge for Starknet to bring Bitcoin assets to the Layer 2 network.</div>
</li>
<li class="ace-line ace-line old-record-id-KvwVdybPVoscTsxBJd6lr2qeggf" data-list="bullet">
<div>ZKsync <a rel="nofollow" href="https://x.com/ZKsyncIgnite/status/1900206590361239853">sunsetted the Ignite</a> Incentive Program, citing redirect focus from Era to Elastic Network and poor market condition.</div>
</li>
<li class="ace-line ace-line old-record-id-IUindtZw8odCCkxp4XHlz42fgNf" data-list="bullet">
<div>Base launched <a rel="nofollow" href="https://www.coinbase.com/en-gb/blog/the-future-of-investing-is-open-and-onchain">Echo</a>, an onchain private investment platform to support startups in the Base ecosystem.</div>
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<li class="ace-line ace-line old-record-id-B9xidYGIRo1ffRx7XyLlKb56gBm" data-list="bullet">
<div>Near announced <a rel="nofollow" href="https://x.com/KyberNetwork/status/1897291389450289597">KyberSwap</a> and <a rel="nofollow" href="https://x.com/gnosischain/status/1897980661899968635">Gnosis</a> integrate NEAR Intents, bringing seamless cross-chain experience.</div>
</li>
<li class="ace-line ace-line old-record-id-J0fDdYUPzoIZMdxZVtGlSjq3glc" data-list="bullet">
<div>Plume integrated <a rel="nofollow" href="https://x.com/plumenetwork/status/1899449066188402922">Walrus Protocol</a>, a decentralised storage solution on Sui, as the blob storage solution and plans to develop tokenisation engine and cross-chain solution on Sui's Move stack.</div>
</li>
<li class="ace-line ace-line old-record-id-Gc4gdpjE8oiMADxgD8jl7ElPgmf" data-list="bullet">
<div>Movement public mainnet beta is now <a rel="nofollow" href="https://www.movementnetwork.xyz/article/movement-network-public-mainnet-beta">live</a>.</div>
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</ul>
<div class="ace-line ace-line old-record-id-doxlg8YH86j7CMQPDagZYDNTYAb">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxlgz1QkjPvv7HHokbIqUqZMSb">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxlgJxCA4aF6Gd7nU72RboUi3f" data-list="bullet">
<div>A Hyperliquid trader had his $290 million worth of 20x long position on ETH be liquidated by gradually removing his collateral, causing HLP vault lost <a rel="nofollow" href="https://x.com/HyperliquidX/status/1899768864705237211">$4 million</a> from slippage while liquidating the position. Hyperliquid reduced the max leverage for BTC and ETH to 40x and 25x respectively. Currently, the <a rel="nofollow" href="https://hypurrscan.io/address/0xf3F496C9486BE5924a93D67e98298733Bb47057c">trader</a> has 40x short position on BTC and 5x long position on Melania.</div>
</li>
<li class="ace-line ace-line old-record-id-OxmfdeQ5Do8VRWxAjxTlWpoDgDd" data-list="bullet">
<div>Circle announced <a rel="nofollow" href="https://www.circle.com/blog/cctp-v2-the-future-of-cross-chain">CCTP V2</a>, significantly reduces the USDC transfer times from minutes to second and enables message attestation before source chain finalisation. CCTP V2 also enables Hooks function, allowing developers to customise post-transfer actions with smart contract integration.</div>
</li>
<li class="ace-line ace-line old-record-id-WotmdMG0noELj7xSCwUl2i79gjg" data-list="bullet">
<div>Drift introduced <a rel="nofollow" href="https://www.drift.trade/updates/introducing-swift-protocol-a-new-trading-standard-for-solana">Swift Protocol</a>, a new trading standard designed for sub-second fills, better prices, and gasless trading across perpetuals and spot markets by consolidating liquidity from multiple sources.</div>
</li>
<li class="ace-line ace-line old-record-id-EQyEdRRqroifuWxQrZclhU57gyc" data-list="bullet">
<div>Compound passed the proposal to launch <a rel="nofollow" href="https://x.com/MorphoLabs/status/1900200229317816341">Compound Blue</a>, powered by Morpho on Polygon with $3 million in COMP and SOL incentives allocated to accelerate growth.</div>
</li>
<li class="ace-line ace-line old-record-id-X3dzdV0cuoil6IxmPy0lEHTigIc" data-list="bullet">
<div>Lit Protocol introduced <a rel="nofollow" href="https://x.com/LitProtocol/status/1900206012818440465">LITKEY</a> token as the staking, gas and governance token of the protocol network. Lit Protocol provides developers to build applications with decentralised key management with secure computation.</div>
</li>
<li class="ace-line ace-line old-record-id-S5hLdI3mYoF778xuD0tlB5enguc" data-list="bullet">
<div>GMX Solana is now <a rel="nofollow" href="https://x.com/GMX_SOL/status/1899807839897432417">live</a>, users can now mint GLV with SOL or USDC with up to 700% APY.</div>
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</ul>
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<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-AWUodRleIooYmwx6MT3lGlszgwb" data-list="bullet">
<div>Uniswap is likely to pass the <a rel="nofollow" href="https://gov.uniswap.org/t/governance-proposal-uniswap-unleashed-unichain-and-uniswap-v4-liquidity-incentives/25250">incentive campaign </a>to accelerate the growth of Uniswap v4 and Unichain with approximately $24 million and $21 million respectively. The voting ends on March 19.</div>
</li>
<li class="ace-line ace-line old-record-id-T8JZdNemdooCYAxT1pfljlsTgdc" data-list="bullet">
<div>Biconomy announced <a rel="nofollow" href="https://x.com/biconomy/status/1900252625150296126">Biconomy Network</a>, a chain abstraction layer, aims to launch the Genesis Mainnet in April 2025. Biconomy Network features Supertransaction, where users only sign once and execution implemented across multiple chains, and decentralised node networks secured by BICO.</div>
</li>
<li class="ace-line ace-line old-record-id-doxlgOvLceb82gFbfhVgJnUnwTX" data-list="bullet">
<div>Offchain Labs from Arbitrum announced a plan to <a rel="nofollow" href="https://x.com/OffchainLabs/status/1899203661286252695">buyback ARB</a> over time through the open market.</div>
</li>
<li class="ace-line ace-line old-record-id-OOBHdas4worIUjxb8iNlREtegIr" data-list="bullet">
<div>Soneium announced <a rel="nofollow" href="https://soneium.org/en/blog/LINE-MINI-App">4 LINE onchain mini-apps</a> Sleepagotchi LITE, Farm Frens, Moonveil and Pocket Mob are launching in coming months.</div>
</li>
<li class="ace-line ace-line old-record-id-PKx5dSG2dou713xz0d0ltePdgyc" data-list="bullet">
<div>Aave founder proposed <a rel="nofollow" href="https://governance.aave.com/t/temp-check-building-horizon-s-rwa-product-an-aave-licensed-instance-for-institutions/21384">Project Horizon</a>, a RWA-focused lending protocol that is powered by Aave instance. The proposal initially included profit sharing and new token allocation to Aave DAO, but was later reaching a consensus to be launched as a new product line.</div>
</li>
<li class="ace-line ace-line old-record-id-XDA4d6PvjomSh4xzRZtlZ91pgrb" data-list="bullet">
<div>Initia announced to allow VCs and investors <a rel="nofollow" href="https://x.com/initia/status/1900941375082033664">locked allocation</a> to participate in staking with constraints that the staking rewards will be subjected to a 4 year vesting schedule, and reducing the staking emission. Meanwhile, Initia increases the INIT supply to Initia VIP from 10% to 25%, increasing the impact of gauge vote by Initia VIP.</div>
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</ul>
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<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-Tiv5dLI0doZrfDx0vbBlQtWXgCg" data-list="bullet">
<div>IMX token unlocked on March 21, amount representing 1.38% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-OIzJddulloyxHsxV8BPlSBI4gSg" data-list="bullet">
<div>PLUME token unlocked on March 21, amount representing 5.41% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-C5wAdpHS0ouLLZxWeZjldBK6gWQ" data-list="bullet">
<div>ID token unlocked on March 22, amount representing 18.1% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Jsf3dD9ujoKMg6xOJyylN2d3gpb" data-list="bullet">
<div>OP token unlocked on March 31, amount representing 1.98% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-ErqEdFfzOoQQnsxArLNlJkNbghf" data-list="bullet">
<div>GRASS token unlocked on March 31, amount representing 1.51% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-TT01dg9Osok3ANxaKP1liE8rg2f" data-list="bullet">
<div>SUI token unlocked on April 1, amount representing 2.54% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-T1DFdF0quoFlIdxkvIylPkLWgxf" data-list="bullet">
<div>ENA token unlocked on April 2, amount representing 1.79% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-PQF7dYpumoA0wJxQV6Ml6tSPgRc" data-list="bullet">
<div>JTO token unlocked on April 7, amount representing 3.7% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-A9QwdxQFsopNaixyNnRl5hFPgZc" data-list="bullet">
<div>IO token unlocked on April 7, amount representing 2.09% of the token supply.</div>
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</ul>
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<div class="ace-line ace-line old-record-id-doxlgw59kWE8ImdUKJR3s2LwvEd">&nbsp;</div>
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Headline News



Bitcoin ETFs experienced the 5th consecutive weekly net outflow of $870.39 million last week, despit

Weekly Market Insight: March Week 3

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<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-WjL4dyfZGop7v8xkoYhlITH4g4e" data-list="bullet">
<div>President Trump signed an Executive Order to establish a <a rel="nofollow" href="https://x.com/davidsacks47/status/1897802280738734236">Strategic Bitcoin Reserve</a> and a U.S. Digital Stockpile. The Reserve will be capitalised with Bitcoin owned by the federal government that was forfeited as part of criminal or civil proceedings. The government will not sell the Reserve holding, additional acquisition of Bitcoin and other digital assets will be conducted in a budget-neutral approach. The Stockpile will be actively managed by the Treasury Department.</div>
</li>
<li class="ace-line ace-line old-record-id-GfyXdoUJuo7nhvxdRC6lRCOfg7e" data-list="bullet">
<div>Bitcoin price dropped by approximately 14% last week, as the Bitcoin Reserve announced not including strategies to acquire additional Bitcoin, and investors quickly shifted the focus back to macroeconomic uncertainty.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxlgebGDMicYGVYRnHMny1sNbf">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxlg8edSJXsIRFevYmcmuMqml8">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-WWzWdMXy2o8bOIxdzI8la3ISgSb" data-list="bullet">
<div>President Trump paused the tariffs on Mexican and Canadian goods until April 2, just two days after enacting the tariffs and facing retaliation tariffs from Canada and China, where Trump did not lift the additional 10% tariffs imposed additional to the 10% on Chinese goods that went effective on February 4.</div>
</li>
<li class="ace-line ace-line old-record-id-BHjndP89GoKla5xRWT8lFXzCglh" data-list="bullet">
<div>The U.S. ISM manufacturing PMI fell to 50.3 in February, slightly below market expectation of 50.5. Meanwhile, ISM services PMI increased to 53.5, beating the market forecast of 52.6%. The higher than expected ISM services PMI in February aligned with the upward revised S&amp;P services PMI released in February, indicating the continuous expansion in the U.S. services sector.</div>
</li>
<li class="ace-line ace-line old-record-id-SSeqdgxL1o1m6QxB7JSlIjIBg0T" data-list="bullet">
<div>The U.S. Non-Farm Payrolls increased to 151K in February, lower than market expectation of 160K. The unemployment rate in February increased to 4.1%, slightly higher than the market forecast of 4%.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxlg8Sif7G8qHBos0pfRRPMnwg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxlgAA7FzMPPNClLHzLZHnBQyb">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxlgscE649Czh5EZVIZZsF9Pda" data-list="bullet">
<div>Tuesday, March 11, 10:00pm: The U.S. JOLTs Job Openings in January</div>
</li>
<li class="ace-line ace-line old-record-id-RPRud3nIBoPGF7xsol5l0c2GgBg" data-list="bullet">
<div>Wednesday, March 12, 8:30pm: The U.S. Inflation Rate in February</div>
</li>
<li class="ace-line ace-line old-record-id-SqkCdOdzQorNE3xyqFulEnndgRe" data-list="bullet">
<div>Thursday, March 13, 8:30pm: The U.S. PPI in February</div>
</li>
<li class="ace-line ace-line old-record-id-NKfndQpFdoQxMKxYlozlsn7Kgqf" data-list="bullet">
<div>Friday, March 14, 10:00pm: Michigan Preliminary Consumer Sentiment in March</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxlgCj6QmuzZpAYh8SgT0GA5Jg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxlgjFuHFqYOlR13f0kxBmWFXe">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxlgN8NaIq99gHRPCvmtvFPPNR" data-list="bullet">
<div>The US SEC has reportedly dropped the investigation towards <a rel="nofollow" href="https://cointelegraph.com/news/yuga-labs-sec-closed-investigation-nft-platform">Yuga Labs</a> and <a rel="nofollow" href="https://blog.kraken.com/news/sec-lawsuit-dismissal">Kraken</a>.</div>
</li>
<li class="ace-line ace-line old-record-id-LigCdcAYYoMdBQxVfDHl1QBVgpf" data-list="bullet">
<div>Utah's Bitcoin Reserve Bill <a rel="nofollow" href="https://x.com/Bitcoin_Laws/status/1898220663883911429">HB230</a> was revised to remove the "Bitcoin Reserve" provisions entirely and only remain basic protections of mining activities and nodes running.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxlgzBSegNKYYFhnxxLAcaCfmf">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxlgZFCnVS5BkhyxNS3I69advf">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxlgnWKxPEuaYGkVPnlJHsDZUg" data-list="bullet">
<div>MegaETH has launched its <a rel="nofollow" href="https://x.com/megaeth_labs/status/1897663822501966105">testnet</a>, and the team clarified that no aidrop intended for testnet users.</div>
</li>
<li class="ace-line ace-line old-record-id-Y6godCreOoozIexZ7NylDwT6go2" data-list="bullet">
<div>Solayer launched <a rel="nofollow" href="https://x.com/solayer_labs/status/1896908517329834090">native SOL staking</a>, delivering direct yield of 9.5% to stakers.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxlg4iCl1WWwQQtuxbiJgXM2xh">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxlgul5bPcCWpc256Oa5CKkmLf">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-G8q1dOdIYoD1Usxc4exlzaGOgMF" data-list="bullet">
<div>Pendle launched the sUSDX yield market as the first <a rel="nofollow" href="https://x.com/pendle_fi/status/1897286152396447771">permissionless community listing</a> yield market. Listing UI and toolkits will go live soon. The community market which undergo additional audits and evaluation will be listed in Pendle Prime, fostering users' trust.</div>
</li>
<li class="ace-line ace-line old-record-id-VcAUdSCWaok2DlxGvHglIhuAgKe" data-list="bullet">
<div>Maple Finance announced onboarding <a rel="nofollow" href="https://maple.finance/news/bitwise-maple-allocation">Bitwise</a>, which manages over $12 billion in client assets, to its on-chain credit while helping the asset manager to meet institutional regulatory standards.</div>
</li>
<li class="ace-line ace-line old-record-id-Ffm0dfgMXoHsZ4xj4XQlGnFtgDg" data-list="bullet">
<div>Fetch.ai launched <a rel="nofollow" href="https://x.com/Fetch_ai/status/1894389047394492469">ASI-1 Mini</a>, its first web3-native large language model, specifically built and optimised for supporting complex agentic workflow.</div>
</li>
<li class="ace-line ace-line old-record-id-Iuybdq3vsoazTTx8e3elS2CJgqd" data-list="bullet">
<div>Hey Anon launched <a rel="nofollow" href="https://x.com/HeyAnonai/status/1896532259097698511">Ask Anon</a>, a plug-in that is embedded in DeFi protocols and facilitates users' DeFi requests.</div>
</li>
<li class="ace-line ace-line old-record-id-WElBdgCD9opohwxL4txl5cG0gHg" data-list="bullet">
<div>Aevo introduced <a rel="nofollow" href="https://x.com/aevoxyz/status/1896525242400670031">Option OTC 2.0</a>, an on-chain options OTC desk, bringing institutional grade liquidity with zero exchange fees.</div>
</li>
<li class="ace-line ace-line old-record-id-Ho5edAVnRofOGexrkOwlEASqgW0" data-list="bullet">
<div>Worldcoin launched a beta version of private <a rel="nofollow" href="https://x.com/tiagosada/status/1897682293122334914">messenger</a> with an in-build payment feature in its mobile app.</div>
</li>
<li class="ace-line ace-line old-record-id-Ny24dNfEvoBvRkxw0s9lfI0egYd" data-list="bullet">
<div>Across raised <a rel="nofollow" href="https://www.theblock.co/post/344470/paradigm-leads-token-round-across-protocol-ethereum">$41 million</a> from Paradigm with the sales of ACX token. Although the vesting schedule is unknown, the seed raise and strategic raise are scheduled to unlock in June 2025 (23% of circulating supply) and periodically cliff unlock until February 2026.</div>
</li>
<li class="ace-line ace-line old-record-id-MnPndHARcoH0K7xzYdyl6OWCguh" data-list="bullet">
<div>Stake, the multi-VM interoperability protocol, introduced <a rel="nofollow" href="https://x.com/skate_chain/status/1897291874828001578">Stake AMM</a>. The new AMM could operate across multiple VM networks and unified the liquidity across VMs into a single pricing curve.</div>
</li>
<li class="ace-line ace-line old-record-id-LeQ5dSyQxoyu6Lxc1OhliOUlgYf" data-list="bullet">
<div>Mass launched over 30+ <a rel="nofollow" href="https://x.com/massdotmoney/status/1896936026935026040">tokenised equity</a> markets on its mobile trading platform with the collaboration with Dinari Global, which is the custodian of the underlying equities tokens.</div>
</li>
<li class="ace-line ace-line old-record-id-Jeuydzzl1oDx89xfRIwljp0Kguf" data-list="bullet">
<div>Backed Finance has launched its 9th equity token, <a rel="nofollow" href="https://x.com/BackedFi/status/1898024225257963665">wbCOIN</a>, a tokenised Coinbase stock on Base.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxlgL45H4qwmK2wHvYu4RVsulc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxlgQScKjgcYtZDIfjsnL1OLeb">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-QmTbdteZ4oDPtHxAGTLlFSdJggh" data-list="bullet">
<div>Solana's SIMD-0228, the proposal to implement a <a rel="nofollow" href="https://forum.solana.com/t/proposal-for-introducing-a-programmatic-market-based-emission-mechanism-based-on-staking-participation-rate/3294">market-based emission</a>, is currently in the process of <a rel="nofollow" href="https://flipsidecrypto.xyz/pine/simd-0228-voting-metrics-Fe6ZCP">voting</a>.</div>
</li>
<li class="ace-line ace-line old-record-id-HP4zd1iL6oPTRRxSJjFlAHT9gtb" data-list="bullet">
<div>Ethereum Pectra is expected to be scheduled soon and some expect the upgrade will be around late-March.</div>
</li>
<li class="ace-line ace-line old-record-id-doxlgcR7Jzgq4t9Bc0ns9a0hh5B" data-list="bullet">
<div>AAVE proposed to start the implementation of <a rel="nofollow" href="https://governance.aave.com/t/arfc-aavenomics-implementation-part-one/21248">Aavenomics</a>, including an AAVE buyback and distribute program immediately at the pace of $1 million per week for the first 6 months, empowers liquidity committees to gradually reduce liquidity incentives, deprecating LEND and more.</div>
</li>
<li class="ace-line ace-line old-record-id-QP4xddkTKoy0mQx6bfZlJe1EgFd" data-list="bullet">
<div>AAVE also proposed to launch <a rel="nofollow" href="https://governance.aave.com/t/temp-check-gho-aave-savings-upgrade/21254">Aave Savings Rate</a> to onboard more GHO holders. The rate is designed to take the USDC lending rate as reference and is expected to be higher than Sky Savings Rate.</div>
</li>
<li class="ace-line ace-line old-record-id-IptkdBmUBoAEGRxrk1glqTVugDe" data-list="bullet">
<div>Jito proposed upgrading JTO <a rel="nofollow" href="https://docs.google.com/document/d/18sohxHeT1OErhVJsr-SLM88qvgRIwkz0FaYnRee33ZY/edit?tab=t.0">utilities and tokenomics</a>, including buyback, burn, protocol-owned-liquidity and gauge mechanism for reward distribution.</div>
</li>
<li class="ace-line ace-line old-record-id-ElsgdrxzLonExQxQa7ulA18hgff" data-list="bullet">
<div>Fluid proposed to expand its service to <a rel="nofollow" href="https://gov.fluid.io/t/deploy-fluid-on-polygon-network/1522">Polygon</a> PoS.</div>
</li>
<li class="ace-line ace-line old-record-id-IRuPdq2kloXOiBxzr6GlkHDogqK" data-list="bullet">
<div>Sui and World Liberty Finance are working to <a rel="nofollow" href="https://blog.sui.io/world-liberty-financial-strategic-token-reserve/">explore collaboration</a> opportunities and including SUI in WLFI's token reserve.</div>
</li>
<li class="ace-line ace-line old-record-id-E9MvdjO8JoKEdgxcIcQluod0gAe" data-list="bullet">
<div>Celo announced Layer-2 <a rel="nofollow" href="https://x.com/Celo/status/1896617306509500661">mainnet</a> will be activated on March 26.</div>
</li>
<li class="ace-line ace-line old-record-id-V0eUdFlA7ojdZixlzVml0zDWgDJ" data-list="bullet">
<div>Synthetix introduced <a rel="nofollow" href="https://mirror.xyz/kain.eth/8UX6Rn5wpTli0WCCC_fWC7vOAQPiOTDGrUI87mrhkvc">420 Pool</a>, a new staking pool for SNX holders to participate in various yield opportunities such as sUSDe and used the reward to buyback SNX.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxlg12leDKyWgNFGL1hGxBb35f">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxlgl2b3hfl9zbon4bK2S9YGab">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-VKOudW01UoKo2kxf6ShlvZwhgXb" data-list="bullet">
<div>IO token unlocked on March 11, amount representing 2.17% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-AUppdXmN4oqjnUxpBYMlhr9sgKe" data-list="bullet">
<div>APT token unlocked on March 12, amount representing 1.91% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-CcOCduQnWoZ8vKx1z30lOQwcgIh" data-list="bullet">
<div>STRK token unlocked on March 15, amount representing 2.47% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Ss9edLvBBo95PTxFKGPlXOQcgQq" data-list="bullet">
<div>ARB token unlocked on March 16, amount representing 2.08% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-GXtFdUrf7oqgFzxuNLcloEhjgzf" data-list="bullet">
<div>VANA token unlocked on March 16, amount representing 1.46% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-GjWUdfcPsoYin5xC4TylmqNjgbg" data-list="bullet">
<div>APE token unlocked on March 16, amount representing 1.91% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-MIhcdSkcGoJNtJxHZhBll0DCgZe" data-list="bullet">
<div>STRK token unlocked on March 15, amount representing 2.47% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-D2bfd1cyWo0jVVx4RHJlf4Ajgyg" data-list="bullet">
<div>IMX token unlocked on March 21, amount representing 1.38% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-QAKvdPSgaoFiRYx4doZlAIxOgoh" data-list="bullet">
<div>PLUME token unlocked on March 21, amount representing 5.41% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-RTpFdGaGro5R1vx0lmilaUSSgcc" data-list="bullet">
<div>ID token unlocked on March 22, amount representing 18.1% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-QBATd3JO3oRgouxRFPIlQULCgNg" data-list="bullet">
<div>OP token unlocked on March 31, amount representing 1.98% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-RGTWdsvEboZmH2xMh1hlzbRMgab" data-list="bullet">
<div>GRASS token unlocked on March 31, amount representing 1.51% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxlgxRkF2ZLAb4jmEzX27Szhkf">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxlgh14i2GFOsQWBPXSJzLfzbc">Please click <a rel="nofollow" href="https://chainupgroup.larksuite.com/share/base/form/shruso3ZBWdvpzRlCT4jwnicgrb">HERE</a> to subscribe for weekly market insight and exclusive research.</div>
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Headline News



President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve and a U.S. Digita

Weekly Market Insight: March Week 2




Headline News



Trump reaffirmed imposing 25% tariffs on Canada and Mexico and a new 10% tariff on Chinese goods on 

Weekly Market Insight: March Week 1

<div class="ace-line ace-line old-record-id-doxuso04wlplwx1vff44zj9bbOh">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusBPsyilZlFq8JQXDCw6dimd" data-list="bullet">
<div>- Bitcoin saw minimal movement last week, recording a modest 0.14% gain. Market-wide trading volume declined, largely due to exhaustion from memecoin trading following the LIBRA rug pull incident. Although Bitcoin briefly reclaimed the $99,000 level, its gains were quickly erased by the Bybit hack and weaker-than-expected economic data released on Friday.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusWGesiUxpRBDcTR74bfsu2g">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusvoVtI9Dkj4uVFtfMEZ1tFg">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-JeBgdjoO8oJLXcxM6BcuvMXMsXk" data-list="bullet">
<div>- The FOMC minutes in January showed the discussion of possibility of pausing or slowing down the balance sheet runoff before resolving the debt ceiling issue, and concern towards potential changes in trade and immigration policies that could drive higher inflation.</div>
</li>
<li class="ace-line ace-line old-record-id-GTbtdzFSxo8c47xPu1oukhtRsnh" data-list="bullet">
<div>- The U.S. Michigan 5-year inflation expectations climbed to 3.5% in February, the highest since 1995.</div>
</li>
<li class="ace-line ace-line old-record-id-KUYddAC2hoF1eAxyCzxuOjHZsCd" data-list="bullet">
<div>- A new <a rel="nofollow" href="https://www.reuters.com/business/healthcare-pharmaceuticals/chinese-researchers-find-bat-virus-enters-human-cells-via-same-pathway-covid-2025-02-21/">covid-like bat virus</a> was discovered by researchers in China. However, some experts called the reaction to the study overblown, as the virus has a less binding affinity to humans and more immunity in the population since 2019.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusBHr1MfekwtgazkGyXcSDie">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusgU5YRNyapXwBkmxVjjYHeg">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusin8TULvUksENAz6sgP2qpf" data-list="bullet">
<div>- Thursday, February 27, 9:30am: Durable Goods Orders in January and Q4 GDP Second Estimate</div>
</li>
<li class="ace-line ace-line old-record-id-KLfxdQ5hxo9bowxP80duu3e4sfc" data-list="bullet">
<div>- Friday, February 28, 9:30pm: Core PCE, Personal Income and Personal Spending in January</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusSWKMA1UbVBsO8WVrht6UOf">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusziDrFajCtDALDm43GsnTwc">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-CX08doWbuoycOQxl6CsuuRi6sMg" data-list="bullet">
<div>- Bybit was hacked by North Korea's Lazarus Group for&nbsp;<a rel="nofollow" href="https://x.com/benbybit/status/1892963530422505586">$1.4 billion</a> in ETH with a musked Safe interface. Bybit experienced approximately $5.5 billion net withdrawal from the exchange in the past week. The exchange ETH reserve has fully restored now, according to the CEO.</div>
</li>
<li class="ace-line ace-line old-record-id-YF4EdoXQtof7kVx0BwBuuTv1sbg" data-list="bullet">
<div>- Ethena reported a $30 million PnL exposure on Bybit but no spot assets were deposited on the exchange. Market concerns over potential collateral losses for USDe led to a temporary depeg, but AAVE stated that no bad debt resulted from the USDe collateral during the same period.</div>
</li>
<li class="ace-line ace-line old-record-id-Qj2adoh3aoaz0LxxJUauzoxgshb" data-list="bullet">
<div>- Strategy (previously MicroStrategy) announced $2.0 billion aggregate principal amount of 0% convertible senior notes due March 1, 2030 to qualified institutional buyers and use the proceeds for acquisition of bitcoin and working capital.</div>
</li>
<li class="ace-line ace-line old-record-id-KyLNd6xdjoLTWSx0ydlupExhswe" data-list="bullet">
<div>- OpenSea CEO said the SEC is closing the&nbsp;<a rel="nofollow" href="https://twitter.com/dfinzer/status/1893086281300582772">investigation</a> into OpenSea. The enforcement case against <a rel="nofollow" href="https://twitter.com/tier10k/status/1892922641314402757">Coinbase</a> is expected to be removed as well.</div>
</li>
<li class="ace-line ace-line old-record-id-Di2hdsQsQoaDXixP3qFuMygpsEc" data-list="bullet">
<div>- Canary Litecoin ETF is listed on the Depository Trust and Clearing Corporation (DTCC) system under the ticker LTCC.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus60mSbCSkX3CJpJ4jzBoFUe">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusxc6WHNo7yq140C7XUDAwFf">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-OMN3dDrrnocTWYxJa16u2GGJsiC" data-list="bullet">
<div>- Ethereum Foundation announced&nbsp;<a rel="nofollow" href="https://x.com/ethereumfndn/status/1892244647369433272">Open Intents Framework</a>, aims to achieve seamless cross-chain interoperability across Ethereum ecosystem. The framework contains ERC-7683 Reference Implementation, which is the intent standard introduced by Uniswap and Across.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusnd9VkaVrK7fJyaJNdgTL0c" data-list="bullet">
<div>- Monad, a new high performance EVM compatible Layer 1, launched its highly anticipated&nbsp;<a rel="nofollow" href="https://x.com/monad_xyz/status/1892227817149997212">testnet</a> with 0.5 second block times. The testnet aims to achieve 1 billion gas per second before mainnet launch, approximately 40x increase over Base's current capacity.</div>
</li>
<li class="ace-line ace-line old-record-id-C7Uod8Sy8o4YZixO3HFu3K1Asye" data-list="bullet">
<div>- Hyperliquid launched&nbsp;<a rel="nofollow" href="https://x.com/HyperFND/status/1891730068151599464">HyperEVM</a> mainnet. A massive number of DeFi dapps are expected to launch gradually, while protocols such as HypurrFi, HyperSwap and Keiko are already live.</div>
</li>
<li class="ace-line ace-line old-record-id-D33mdUXc8ov4jsxfs4XuLAVdsdf" data-list="bullet">
<div>- NEAR launched&nbsp;<a rel="nofollow" href="https://pages.near.org/blog/shade-agents-the-first-truly-autonomous-ai-agents/">Shade Agents</a> framework which enables developers to build Autonomous AI agents on NEAR with Trusted Execution Environments (TEEs) supported to increase sovereignty with off-chain data and AI models, as well as enables agents to execute transactions on every chain via NEAR's Chain Signatures.</div>
</li>
<li class="ace-line ace-line old-record-id-ZK0CdpJaXo5u7PxW5zwu3LfEsYd" data-list="bullet">
<div>- Bittensor has successfully launched dTAO. There are 70 subnets currently and valued at approximately&nbsp;<a rel="nofollow" href="https://taostats.io/subnets">$85 million</a> in market cap among their Alpha tokens. Subnet 4, Targon, secured the top rank among the subnets with 12.3% of the emission entitlement.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusM98MfBerAhBfOuQbm8JvUf">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxusv6W0DGsEHfnQUMAq3vBKyc">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-ZIhndnHLFog4JkxYyvkuXDkLs2c" data-list="bullet">
<div>- Kaito launched KAITO token which is valued at $1.5 billion in FDV. The launch demonstrated a successful example of a centralised platform utilises crypto into their services. Kaito is also powered by Bittensor subnet 5 to decentralise search indexing.</div>
</li>
<li class="ace-line ace-line old-record-id-JuhId63gxo0Ljkxyv4WuluXOs6c" data-list="bullet">
<div>- Crossmint, a&nbsp;<a rel="nofollow" href="https://x.com/crossmint/status/1892637795056820442">Solana Smart Wallet</a>, launched its beta on devnet with features such as gasless transaction and programmable security modules.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusuZa28zeoWMlCTMSKk0sbib" data-list="bullet">
<div>- Maple and CoreDAO announced&nbsp;<a rel="nofollow" href="https://x.com/maplefinance/status/1891623713893908518">lstBTC</a>, enabling BTC holders to earn yield on their BTC with custodians by trusted parties such as BitGo, Copper and Hex Trust.</div>
</li>
<li class="ace-line ace-line old-record-id-BOEbd9jYpoX5Dhx9sQ9uTPZDscf" data-list="bullet">
<div>- IO launched&nbsp;<a rel="nofollow" href="https://x.com/ionet/status/1892098890356359365">co-staking</a>, stakers can now co-stake with device suppliers to earn rewards.</div>
</li>
<li class="ace-line ace-line old-record-id-Iv4NdF6xzoj1zbxpr9FuALrJsZf" data-list="bullet">
<div>- Virtuals Protocol announced&nbsp;<a rel="nofollow" href="https://x.com/virtuals_io/status/1892205912150114577">Agent Commerce Protocol</a>, an open standard for multi-agent commerce and coordination.</div>
</li>
<li class="ace-line ace-line old-record-id-JtCQdjoHTo9Ol4xJP0PufrwZsWg" data-list="bullet">
<div>- Li.Fi Protocol, an aggregator of cross-chain bridges, announced&nbsp;<a rel="nofollow" href="https://x.com/lifiprotocol/status/1891865277853298922">LIFI 2.0</a>, an intents protocol that works across any VM.</div>
</li>
<li class="ace-line ace-line old-record-id-CP7NdleKXogyllxGad4uCUeesGc" data-list="bullet">
<div>- OpenEden introduced&nbsp;<a rel="nofollow" href="https://x.com/OpenEden_X/status/1892930212427431978">USDO</a>, a yield-bearing stablecoin backed by tokenised Treasuries under a Bermuda Digital Asset Business Act (DABA) License.</div>
</li>
<li class="ace-line ace-line old-record-id-X2gedcLFHohOCDxIIcuu4jGpsic" data-list="bullet">
<div>- Moonwell introduced&nbsp;<a rel="nofollow" href="https://x.com/moonwelldefi/status/1892605399666499985?s=46">Virtual Accounts</a>, a U.S. Checking accounts with zero fees. Users can receive USD via ACH, wire transfer, PayPal and more. The USD will be converted to USDC and earn yield in the USDC vault or spend with Moonwell Card.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusUPQql3P56gULHmwfeZXXqe">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusHZ69ZiZYmXqMmQyO5hklif">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-Fb9Bdy7L8o5z7UxesbRudazDs8g" data-list="bullet">
<div>- ETHDenver is held from February 23 to March 2.</div>
</li>
<li class="ace-line ace-line old-record-id-Zqqfdp8YHokzurxio2quzcImsqf" data-list="bullet">
<div>- Stacks will raise the&nbsp;<a rel="nofollow" href="https://x.com/Stacks/status/1888968196973052253">sBTC</a> cap to 3,000 BTC on February 25, providing yield of 5% APY.</div>
</li>
<li class="ace-line ace-line old-record-id-N0wHdMC8loynRSx07yJuVcVCsgb" data-list="bullet">
<div>- Kaito is expected to start distributing&nbsp;<a rel="nofollow" href="https://x.com/Punk9277/status/1892823531731505412">staking</a> rewards to stakers, the yield sources from Liquidity Incentives allocation and network fees.</div>
</li>
<li class="ace-line ace-line old-record-id-QM7OdwwRJopVmfxNXHzu7Va3sNh" data-list="bullet">
<div>- Solana is scheduled to unlock&nbsp;<a rel="nofollow" href="https://solanacompass.com/tokenomics">8.7 million SOL</a> or about $1.5 billion on March 1.</div>
</li>
<li class="ace-line ace-line old-record-id-UIdPdX8gXohclpxuApHuoaXbsRb" data-list="bullet">
<div>- Pump.fun is reportedly working on their own AMM liquidity pools on&nbsp;<a rel="nofollow" href="https://x.com/trenchdiver101/status/1893814646718730393">amm.pump.fun</a>.</div>
</li>
<li class="ace-line ace-line old-record-id-E3tldG44aosfHkxiBeTutLFBsfb" data-list="bullet">
<div>- Story Protocol released its&nbsp;<a rel="nofollow" href="https://x.com/StoryProtocol/status/1892619749961380338">technical roadmap</a>, aiming to deliver IP Portal (IP registration and browse registered IP) and Story Attestation (an oracle network that brings IP validation signals onchain) in Q2.</div>
</li>
<li class="ace-line ace-line old-record-id-HFVLdsI4uoMVuvxIki8usl1Uspg" data-list="bullet">
<div>- The Curve founder, Michael Egorov, was reportedly working on a new project called&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/341554/curve-finance-founder-yield-basis-funding-token-valuation-source">Yield Basis</a>, aiming to solve impermanent losses for liquidity providers. The strategy involved borrowing crvUSD to create a liquidity ratios adjusted position to eliminate impermanent losses.</div>
</li>
<li class="ace-line ace-line old-record-id-Cal8dYLMoo38idxbGp2uuWoVsrc" data-list="bullet">
<div>- MakerDAO passed an emergency&nbsp;<a rel="nofollow" href="https://vote.makerdao.com/executive/template-executive-vote-rate-adjustments-arbitrum-token-bridge-initialization-smart-burn-engine-liquidity-unwind-smart-burn-engine-parameter-changes-allocator-spark-a-dc-iam-parameter-changes-standby-spell-changes-in-the-chainlog-aligned-delegate-compensation-atlas-core-development-payments-integration-boost-funding-spark-proxy-spell-february-21-2025">proposal</a> increasing the borrowing limit against SKY tokens and was claimed the proposal was to address the potential governance attack. The team also reclaimed the Uniswap V2 liquidity and reduced the surplus threshold to 70 million DAI, which caused the buyback and burn mechanism kicked in immediately.</div>
</li>
<li class="ace-line ace-line old-record-id-Wb49dR3xno1WICxFx0ou3nGMsoh" data-list="bullet">
<div>- Liquity announced V2 will be&nbsp;<a rel="nofollow" href="https://x.com/LiquityProtocol/status/1892943503489179877">re-deployed</a> in mid-March.</div>
</li>
<li class="ace-line ace-line old-record-id-YufSdeZruo1DTkx33NYu13v8sJd" data-list="bullet">
<div>- FTX is expected to distribute the claims over $50,000 on May 30.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusqGM5cmSpPHYZM86cIqexFT">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxuslmSGVxLX3ScvqJYhA4zFrf">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-Wg9UdpHhnoQSfMxNvnmuu3cjs3d" data-list="bullet">
<div>- ALT token unlocked on February 25, amount representing 9.47% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-VhKvd5UrboRp3px1NBDuokH2sKh" data-list="bullet">
<div>- OP token unlocked on February 28, amount representing 2.39% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-MwyxdZTpdoO9y2xQ6eZuTjU9snf" data-list="bullet">
<div>- GRASS token unlocked on February 28, amount representing 1.52% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-BUzQd187TosjmbxVxgku3jp2sbc" data-list="bullet">
<div>- SUI token unlocked on March 1, amount representing 2.60% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-UYZ3diiPioVewWxCvOQuKI9psyb" data-list="bullet">
<div>- ENA token unlocked on March 2, amount representing 3.02% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-XxehdKMqzoCoTQxNenxui94Ps0b" data-list="bullet">
<div>- JTO token unlocked on March 7, amount representing 3.84% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-MCEndjjdBoGwvWxBC9Xu3kNisv7" data-list="bullet">
<div>- MOVE token unlocked on March 9, amount representing 2.08% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-WR0hdwBvno1U5hx0MoMuwD1ssje" data-list="bullet">
<div>- IO token unlocked on March 11, amount representing 2.17% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-DIcGdoue8ofIz6x3hmOuEHn2sah" data-list="bullet">
<div>- APT token unlocked on March 12, amount representing 1.91% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-GARCdG827o3CPFxTEiUuXGPysdf" data-list="bullet">
<div>- STRK token unlocked on March 15, amount representing 2.47% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusV4TFAAb1rfJHd3UWfEEXEd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusjhVmZFP844V1cgoWIbbr2e">Please click <a rel="nofollow" href="https://chainupgroup.larksuite.com/share/base/form/shruso3ZBWdvpzRlCT4jwnicgrb">HERE</a> to subscribe for weekly market insight and exclusive research.</div>



Headline News



- Bitcoin saw minimal movement last week, recording a modest 0.14% gain. Market-wide trading volume d

Weekly Market Insight: February Week 4 

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<div class="ace-line ace-line old-record-id-doxusLYD8wUG6qoANtJwaezYHfV">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusZU2MCLuJNqJ534u0FEfALh" data-list="bullet">
<div>- The Bitcoin price was muted last week, closing the week with slight decline of approximately 0.36%. The high uncertainty environment of macroeconomics decreased the investors' risk appetite. Bitcoin ETFs experienced the largest net outflow of $651.83 million since September 2024.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusDcqhG2efaKYhd0VAKVbyvb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuslX5XcUkBg8hb5fsdY6Y28f">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-RVqjdpkT3o32MwxNg6Fu36TqsId" data-list="bullet">
<div>- Jerome Powell re-emphasised the Federal Reserve stand to stay patient on rate cuts during his testimony to Congress.</div>
</li>
<li class="ace-line ace-line old-record-id-MsTHdrED1owqNwxnEjMuS6Z3sBe" data-list="bullet">
<div>- The U.S. inflation rate in January increased to 3%, higher than the 2.9% market expectation. Meanwhile, PPI increased to 3.5% in January, well above market expectation of 3.2%. Despite that, given the PPI components, economists lowered their expectation that January core PCE to the range around 0.22% to 0.3% from 0.4% to 0.45%. The slightly more benign inflation expectation suppressed the 10-Year government bond yield from a high of 4.66% to 4.48% at the end of the week.</div>
</li>
<li class="ace-line ace-line old-record-id-doxuscSckfcFUUqP1B10qJbidve" data-list="bullet">
<div>- Howard Lutnick, the president's nominee to lead the Commerce Department, stated the studies of reciprocal tariffs should be completed by April 1 and Trump could act immediately afterward.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusBntzsdKBirHgP1zmGBMfDg">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxussCeAkj1FBaYwtDWCwyCvAh">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus9igR7nDpM0rSz5iG9Ko8Bc" data-list="bullet">
<div>- Thursday, February 20, 3:00am: The FOMC Minutes</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusWY7ceGkNHVRLwS8g3zH0Ac">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxustkwtNCVXBsApMSehSNOudr">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus85KRnbdZS0DVVpW0jpgycf" data-list="bullet">
<div>- The Wisconsin State Pension Fund increased their IBIT shares from 2,889,251 to 6,060,351 in Q4 2024.</div>
</li>
<li class="ace-line ace-line old-record-id-PGF3dTS4LoeOjMxOCIkuZ8ngs1h" data-list="bullet">
<div>- The Argentine President, Javier Milei, faced impeachment calls after promoting LIBRA token, which ended up being rugged. The token was dumped by insiders from the&nbsp;<a rel="nofollow" href="https://x.com/kelsierventures/status/1890914579493863532">team</a>, KoLs and some accused individuals from <a rel="nofollow" href="https://x.com/JupiterExchange/status/1891181433588470052">Jupiter</a> team had relevant insider information before the launch.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusC6hGK75Cyw5XTcwDwTcCvf">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxuspofSlpua1N46c25VEo6JAc">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusEm3FHRbnbQqoN76DbUsU9w" data-list="bullet">
<div>- XION onboard&nbsp;<a rel="nofollow" href="https://app.earnos.com/mission/im-on-the-way-with-uber?ref=krypthye">Uber</a> to mainnet with <a rel="nofollow" href="https://x.com/burnt_xion/status/1889337902980870552">EarnOS</a>, helping the company to reach a broader customer base and reward users with real-demand.</div>
</li>
<li class="ace-line ace-line old-record-id-Q7wLdMBF7ouxh2xSWdBuI6TSs6b" data-list="bullet">
<div>- Arbitrum launched&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/340278/offchain-labs-releases-arbitrum-bold-on-mainnet-for-permissionless-validation">BoLD</a> on the mainnet, enabling permissionless validation of the Layer-2 networks.</div>
</li>
<li class="ace-line ace-line old-record-id-CAAodKsIuojn8Mx8D5QuQSAOsAj" data-list="bullet">
<div>- Lens, the Web3 social platform, announced Lens Chain will be using&nbsp;<a rel="nofollow" href="https://x.com/LC/status/1889743207904485631">GHO</a> as the gas token.</div>
</li>
<li class="ace-line ace-line old-record-id-OHhhdcJpCoLvOyx624TusmxhsOR" data-list="bullet">
<div>- Union Fintech launched&nbsp;<a rel="nofollow" href="https://x.com/zksync/status/1889876479514673622">Union Chain</a> with zkSync stack to establish a regulated exchange and RWA tokenisation platform.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusURmGAnnyiVLZWoaZWKTvfe">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxusKST876fPUnlYVPSjJGG91e">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-Y4bid3zh8ooPuexuBXHu5lTsssd" data-list="bullet">
<div>- Ondo announced strategic partnership with&nbsp;<a rel="nofollow" href="https://x.com/OndoFinance/status/1889675990055657623">World Liberty Finance</a> to integrate USDY, OUSG and tokenised securities from upcoming GM into the WLFI platform.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusigfRUUFBTcpCsBsnxPufWc" data-list="bullet">
<div>- Lido V3 introduced&nbsp;<a rel="nofollow" href="https://blog.lido.fi/lido-v3-ethereum-staking-infrastructure/">stVaults</a>, a customised vault solution for configuration such as institution staking that connects to specific Node Operators, leverage strategies, restaking exposure and more.</div>
</li>
<li class="ace-line ace-line old-record-id-CHBfdmgSHolhUtxbuyuuzgffsxe" data-list="bullet">
<div>- Uniswap launched the highly anticipated&nbsp;<a rel="nofollow" href="https://x.com/unichain/status/1889313993296064770">Unichain</a>, the Layer-2 has attracted over $25 million TVL in a week.</div>
</li>
<li class="ace-line ace-line old-record-id-OJ4QdwpX9obAJ8xPWIZua86Bsse" data-list="bullet">
<div>- VaderAI introduced&nbsp;<a rel="nofollow" href="https://x.com/VaderResearch/status/1889816510711079171">Early Agent Offering</a>, a pre-sale launchpad to all VADER stakers. Stakers who sell the pre-sales token early will get their whitelist points slashed and diamond hands will be rewarded with more points for the next pre-sale.</div>
</li>
<li class="ace-line ace-line old-record-id-IK5dd8CeboA81QxTih4uZBQksC6" data-list="bullet">
<div>- Unit, a tokenisation layer for&nbsp;<a rel="nofollow" href="https://x.com/hyperunit/status/1890437173738107107">Hyperliquid</a>. The protocol was introduced to onboard native BTC to Hyperliquid for unified CLOB spot trading experience. More assets such as ETH and SOL are expected to be integrated soon.</div>
</li>
<li class="ace-line ace-line old-record-id-GRiydV6t9oQEMrx9aMXuv3uAsHe" data-list="bullet">
<div>- Nous Research introduced&nbsp;<a rel="nofollow" href="https://x.com/NousResearch/status/1890148000204485088">DeepHermes-3 Preview</a>, their new LLM that unifies reasoning and intuitive language model capabilities.</div>
</li>
<li class="ace-line ace-line old-record-id-ExMndVPYqoPt0UxakanuYs0Csji" data-list="bullet">
<div>- RedStone, the oracle solution for pricing underlying assets, introduced&nbsp;<a rel="nofollow" href="https://blog.redstone.finance/2025/02/12/introducing-red-tokenomics/">RED</a> token. The token is designed to be staked as oracle network security via EigenLayer AVS mechanism. 51.7% token supply is allocated to the team and backers, with the first major unlock after 12 months.</div>
</li>
<li class="ace-line ace-line old-record-id-D4wnd8qDioaGOHxFu4fuuqiCsMt" data-list="bullet">
<div>- MyShell introduced&nbsp;<a rel="nofollow" href="https://x.com/myshell_ai/status/1890024055404892501">SHELL</a> token, the native token to compensate AI agent creators and the payment token to use the AI tools on MyShell. MyShell also announced major updates on <a rel="nofollow" href="https://x.com/myshell_ai/status/1891100435257434359">ShellAgent</a> features with more seamless codeless AI configuration, direct social media interactions, and more on-chain copilot capabilities.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxussDw4mDNLFRr5nHblqdPgIc">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusmqbmW2Dpm55ceAFwkJj49e">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxus93zp3vH0x9gBgjY7zuA3If" data-list="bullet">
<div>- CoinDesk is holding the Consensus conference in Hong Kong from February 18 to 20.</div>
</li>
<li class="ace-line ace-line old-record-id-AqV6dAsbtoKyLXxQnDCuVqffsyh" data-list="bullet">
<div>- Jupiter is starting its&nbsp;<a rel="nofollow" href="https://x.com/JupiterExchange/status/1890089764218630253">buyback</a> using 50% of all protocol fees on Monday. Jupiter is also expected to deliver technical previews on the <a rel="nofollow" href="https://x.com/weremeow/status/1890414960074698878">Jupnet</a> in April.</div>
</li>
<li class="ace-line ace-line old-record-id-QIprdfqEJo8ldmxG1gPuAkeWsUg" data-list="bullet">
<div>- Kaito introduced&nbsp;<a rel="nofollow" href="https://x.com/_kaitoai/status/1890379872280682548">KAITO</a> token as the participating token of its platform, network currency and governance. The token generation has been spotted on Base, with more details expected this week.</div>
</li>
<li class="ace-line ace-line old-record-id-Ari7dg4JvoDyROxnV7DuZQudsGh" data-list="bullet">
<div>- Ethereum Foundation deployed&nbsp;<a rel="nofollow" href="https://x.com/ethereumfndn/status/1889978208986280031">45,000 ETH</a> to participate in DeFi protocols such as AAVE, Spark Finance and Compound. The foundation is exploring staking next.</div>
</li>
<li class="ace-line ace-line old-record-id-UGTadqySCo6zVCxFHXzuHDS9sV8" data-list="bullet">
<div>- Liquity V2 found&nbsp;<a rel="nofollow" href="https://x.com/LiquityProtocol/status/1890091102239408544">vulnerability</a> in the Stability Pools, and an update on redeployment is expected next week. Quill Finance has launched a friendly fork on Scroll, two other forks are expected in the coming week and more in March.</div>
</li>
<li class="ace-line ace-line old-record-id-BUVjdqOoyoiRVrxBTUKulWkSssf" data-list="bullet">
<div>- Doodle announced it will be launching&nbsp;<a rel="nofollow" href="https://x.com/doodles/status/1890082282364629239">DOOD</a> token on Solana.</div>
</li>
<li class="ace-line ace-line old-record-id-Jaauds7Hdo4GCtx49lQum1CpsBf" data-list="bullet">
<div>- OpenSea announced it will be launching&nbsp;<a rel="nofollow" href="https://x.com/openseafdn/status/1890041091577057522">SEA</a> token soon without much details.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxuskqCMeFJ3aqWGzu76PQyMI5">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusKnC01Dp0PIYdkOcmcm1nhe">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-VI4sdvlFOo5DWOxdFc2uPlsNsvf" data-list="bullet">
<div>- MELANIA token unlocked on February 20, amount representing 23.3% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-W8uVd9nr5oZ6ndxCoYDugenms5c" data-list="bullet">
<div>- IMX token unlocked on February 21, amount representing 1.41% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-DVVAddixxotkQ1xLLAru1VNVs8c" data-list="bullet">
<div>- PLUME token unlocked on February 21, amount representing 5.32% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-NdXxdf8aQoe0KKxQwTKumahGsuh" data-list="bullet">
<div>- ALT token unlocked on February 25, amount representing 9.47% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-S7pxdkC9roKAxwxJksKuh9bxscg" data-list="bullet">
<div>- OP token unlocked on February 28, amount representing 2.39% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Ap83daqEOoHjaBx1W7buMdZCsFd" data-list="bullet">
<div>- GRASS token unlocked on February 28, amount representing 1.52% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-UiMKdUnxNorMD6x7QZ1uBVMAsVe" data-list="bullet">
<div>- SUI token unlocked on March 1, amount representing 2.60% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Oo9FdwlaPodo9px0YaiuMqBasSb" data-list="bullet">
<div>- ENA token unlocked on March 2, amount representing 3.02% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-PhhPdwWijoXaYkxrcQLu4hgwske" data-list="bullet">
<div>- JTO token unlocked on March 7, amount representing 3.84% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusQS6znQdfoz7A1UzxMkUTBz">&nbsp;</div>
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Headline News



- The Bitcoin price was muted last week, closing the week with slight decline of approximately 0.36%

Weekly Market Insight: February Week 3 

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<div class="ace-line ace-line old-record-id-doxusOMJYBs8etdgwc64Fl5ORNc">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusZozwdbZrYArSJPLksrWKWe" data-list="bullet">
<div>- Despite Trump halting tariffs on Mexico, Canada and low-cost packages from China, the market stayed extremely cautious. After recovering from Monday liquidation, Bitcoin was traded at a tightening range and closed the week with a 1.07% decline.</div>
</li>
<li class="ace-line ace-line old-record-id-Vg8idUEVloyfTqxguG9uhlaGskc" data-list="bullet">
<div>- However, Bitcoin ETFs still experienced a weekly net inflow of $203.54 million. Stablecoin market cap extended its 6th consecutive increase, resulting in over $4.33 billion new stablecoin issued on chain.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxustUyr6oDwVRglhwlyOYDWLb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusovscY5VTRK9pE9LgraZvMc">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusrbwwvxHwdeCy1o7TbiOYpb" data-list="bullet">
<div>- The U.S. Manufacturing PMI increased to 50.9 in January, higher than the expected 49.8. It is the first expansion in manufacturing after 26 consecutive months of contraction. Meanwhile, services PMI increased to 52.8 in January, well below expectation of 54.3.</div>
</li>
<li class="ace-line ace-line old-record-id-FDYFdrtC1oZCw8xrN4huCgFGsJn" data-list="bullet">
<div>- The U.S. Non-Farm Payrolls increased 143K in January, below market expectation of 170K. The unemployment rate in January decreased to 4%, the lowest level since March 2024 and below the market expectation of 4.1%.</div>
</li>
<li class="ace-line ace-line old-record-id-UWxMd9AAfohmhTxPRTRujKVMs9b" data-list="bullet">
<div>- Trump announced his plans to unveil&nbsp;<a rel="nofollow" href="https://www.bloomberg.com/news/articles/2025-02-07/trump-says-he-will-announce-reciprocal-tariffs-next-week">reciprocal tariffs</a> next week. The market expects the upcoming announcement to include new tariffs on EU countries.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusoFvYcMX3t7xn3aOuCKI01g">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuseAxQyM1anpHEkYAYs3VVZc">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusM3nOAlMGymHQPi62f9Xbmb" data-list="bullet">
<div>- Tuesday, February 11 and 12, 11:00pm: Testimony of Jerome Powell to Congress</div>
</li>
<li class="ace-line ace-line old-record-id-YaOTdtvjqob6uXxi4W3u8sn8scd" data-list="bullet">
<div>- Wednesday, February 12, 9:30pm: The U.S. Inflation Rate in January</div>
</li>
<li class="ace-line ace-line old-record-id-Ad5ldTsFMoUG7MxzwwQuLvcrsqg" data-list="bullet">
<div>- Thursday, February 13, 9:30pm: The U.S. PPI in January</div>
</li>
<li class="ace-line ace-line old-record-id-XTuedRgY7ogxIrxC4CBuLkdSs5b" data-list="bullet">
<div>- Friday, February 14, 9:30pm: The U.S. Retail Sales in January</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusf2JBLS3iHSaD5HkE9DBdAd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusI3PLQmSaRQa9pEEX4KM22d">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusPxCn4zqRhDfvhmsoNS4XMc" data-list="bullet">
<div>- The Czech president signed a bill exempting Bitcoin holding more than 3 years from&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/339287/czech-president-signs-law-exempting-capital-gains-taxes-on-crypto-held-for-three-years#:~:text=Quick%20Take,country's%20parliament%20in%20early%20December.">capital gain tax</a>.</div>
</li>
<li class="ace-line ace-line old-record-id-VGtWdbRD7o44eKxrtv3uC8bMsse" data-list="bullet">
<div>- The Ethereum Foundation transferred 50,000 ETH to a multi-signature wallet which plans to participate in Ethereum DeFi protocols.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusgUyZD6EIxXlfNeBsKQNdRd">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxuspx334XbhuM1UhkVKmY39bc">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-EiZvdF6FnorP8BxlvhBuPnsYsJf" data-list="bullet">
<div>- Beachain has launched its&nbsp;<a rel="nofollow" href="https://x.com/berachain/status/1886777450480259265">mainnet</a>. Berachain pioneered the concept of Proof of Liquidity, where applications are built on top of the shared liquidity pools and being incentivised by the mechanism.</div>
</li>
<li class="ace-line ace-line old-record-id-doxushu8DSPNnr4r4baH1q4KK0e" data-list="bullet">
<div>- Solayer has released its&nbsp;<a rel="nofollow" href="https://x.com/solayer_labs/status/1887533566676115532">LAYER</a> token details with 51.23% allocated to the community. Team &amp; advisor and investors allocation will be vested with the first cliff release in a year. LAYER utility will be centered around governance at launch, while the team plans to enable LAYER to participate in staking and gas payment in the future.</div>
</li>
<li class="ace-line ace-line old-record-id-YC9idN97YoHCBjx8CFUu9jP3sq9" data-list="bullet">
<div>- Polygon released Agglayer v0.2 on the mainnet, allowing chains with different security models to connect with&nbsp;<a rel="nofollow" href="https://x.com/Agglayer/status/1886439865295765589">pessimistic proof</a>.</div>
</li>
<li class="ace-line ace-line old-record-id-CzzwdtZKloGfZHxkq57ujKsNsic" data-list="bullet">
<div>- MegaETH introduced its flagship soulbound NFT collection,&nbsp;<a rel="nofollow" href="https://x.com/megaeth_labs/status/1886947683220234670">The Fluffle</a>. The NFT holders will be entitled to 5% allocation of the token supply with 6 month linear vest.</div>
</li>
<li class="ace-line ace-line old-record-id-RPqsd6G8moMpZMxSGHbulPJHsfd" data-list="bullet">
<div>- AO has launched its&nbsp;<a rel="nofollow" href="https://x.com/aoTheComputer/status/1888367204523000259">mainnet</a>, a decentralized supercomputing environment powered by Arweave.</div>
</li>
<li class="ace-line ace-line old-record-id-HwCZdl9gQo9QvLxsc6cuu00gsxP" data-list="bullet">
<div>- Story Protocol released its&nbsp;<a rel="nofollow" href="https://x.com/StoryProtocol/status/1887833486645702865">IP</a> token, allocating 58.4% to ecosystem, community and foundation. The token is used for staking, gas payment (portion of the gas is burnt for each transaction) and governance. The first significant increment of unlocking is scheduled 10 months after launch.</div>
</li>
<li class="ace-line ace-line old-record-id-SnTZdTNOOo4cU3xjIx7uQ2OqsFe" data-list="bullet">
<div>- Avail, Symbiotic and Radius introduced&nbsp;<a rel="nofollow" href="https://x.com/AvailProject/status/1887263843673354320">Alpha Engine</a>, enabling developers to seamlessly launch high throughput rollups through shared security and capture revenue from MEV.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusXxF1hIIVrNCwwBEBhJUbrd">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxus2N61ZtVw7BMXnNG1bQeLte">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-QidadChI1ozRz4xSRbJuNzRqs2d" data-list="bullet">
<div>- Ondo Finance held the Ondo Summit in New York last week. During the event, the team introduced&nbsp;<a rel="nofollow" href="https://x.com/OndoFinance/status/1886460786224042447">Ondo Nexus</a>, enabling instant liquidity for tokenised Treasury issued by third party issuers such as Franklin Templeton, WisdomTree, Wellington Management, and Fundbridge Capital. The team also introduced <a rel="nofollow" href="https://x.com/OndoFinance/status/1887522597480337672">Ondo Chain</a>, featuring permissioned validators ran by select financial institutions, publishing key off-chain data and ran their own DVN to detect address details such as KYC and sanction information. The team also reintroduced Ondo Global Market (<a rel="nofollow" href="https://x.com/OndoFinance/status/1886822778277351608">Ondo GM</a>), a platform for tokenised securities and plans to launch it within 2025.</div>
</li>
<li class="ace-line ace-line old-record-id-OOEDdrXYXoAe9axCCXMuWpcNs8c" data-list="bullet">
<div>- Pendle released&nbsp;<a rel="nofollow" href="https://medium.com/pendle/pendle-2025-zenith-cf1a91e6e23f">2025 roadmap</a> that focuses on v2 improvement with opening up permissionless listing and dynamic fees, expanding to Solana, Hyperliquid and TON networks, integrating RWA assets, and the launch of Boros.</div>
</li>
<li class="ace-line ace-line old-record-id-VSjYdzjm3oGGQ3x6pnOuYKAlsMe" data-list="bullet">
<div>- Frax Finance launched Borrow Automated Market Maker (<a rel="nofollow" href="https://x.com/fraxfinance/status/1886867943184851214">BAMM</a>), enabling users to borrow and lend from LP positions from Fraxswap on Fraxtal chain, significantly increasing users' capital efficiency.</div>
</li>
<li class="ace-line ace-line old-record-id-Ld2FdnsM6obstYx7B1EudRLOsRf" data-list="bullet">
<div>- Coop Records launched its first&nbsp;<a rel="nofollow" href="https://x.com/soneium/status/1887699795919225281">music collection</a> on Soneium via Sonova launchpad.</div>
</li>
<li class="ace-line ace-line old-record-id-H7qAdZO6Eoo1Zkx5Wuyu9glLs5e" data-list="bullet">
<div>- Goldfinch launched&nbsp;<a rel="nofollow" href="https://x.com/goldfinch_fi/status/1886841407647699010">Goldfinch Prime</a> on Base, introducing institutional-grade private credit funds from multiple asset managers in a single vault.</div>
</li>
<li class="ace-line ace-line old-record-id-OsrNdkvVXoIlVUxnscnufVXIsVf" data-list="bullet">
<div>- Thorchain plans to issue creditors a new&nbsp;<a rel="nofollow" href="https://x.com/THORChain/status/1886110777939292225">TCY</a> token, as part of efforts to resolve the $200 million debit crisis from ThorFi. TCY holders will be entitled to 10% of THORChain's revenue in perpetuity.</div>
</li>
<li class="ace-line ace-line old-record-id-RfKHdHNxgoi6HNx2N6euTxJ6squ" data-list="bullet">
<div>- HeyAnon, the DeFAI protocol, has launched its&nbsp;<a rel="nofollow" href="https://x.com/HeyAnonai/status/1887926481004745049">public beta</a> v0.1 across multiple networks including Ethereum, Base, Sonic and more.</div>
</li>
<li class="ace-line ace-line old-record-id-JYyWdkDJ8oZMdNxvql6umrOasTg" data-list="bullet">
<div>- Grass Protocol announced&nbsp;<a rel="nofollow" href="https://x.com/getgrass_io/status/1886541454664974807">Phase 2 of Sion Upgrade</a>, aiming to increase the efficiency of data scraping by 15x.</div>
</li>
<li class="ace-line ace-line old-record-id-Ok0AdxmdWokEoex607RugyS4sde" data-list="bullet">
<div>- Eigen Layer introduced&nbsp;<a rel="nofollow" href="https://x.com/eigenlayer/status/1886880694019788973">Verifiable Agents</a> using AVSs to verify inferences, implement output policy and Event-Driven Activations (EDA) which agents can react to specific on-chain/off-chain events.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusTdxmUcaCux7hMlAbtREtWz">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusiJKHqf94vhIoFGjBKgvwed">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusVNMx9JLuhEPk8bb0u8MZAf" data-list="bullet">
<div>- Ethereum developers confirmed&nbsp;<a rel="nofollow" href="https://www.coindesk.com/tech/2025/02/06/ethereum-s-pectra-upgrade-to-hit-testnets-in-february-and-march">Pectra</a> testnet dates in February and March, potentially leading to a mainnet upgrade in April.</div>
</li>
<li class="ace-line ace-line old-record-id-U6xBdJcMTofp1ax4HnjuwdxSsdc" data-list="bullet">
<div>- Bittensor is expected to launch the highly anticipated dTAO upgrade on February 10.</div>
</li>
<li class="ace-line ace-line old-record-id-KjDTdIkoGoSz3Mxt2gHuLPxTsfg" data-list="bullet">
<div>- FTX creditors with claims less than $50,000 are expected to receive&nbsp;<a rel="nofollow" href="https://x.com/sunil_trades/status/1888127969681461662">repayment</a> on February 18.</div>
</li>
<li class="ace-line ace-line old-record-id-XOQhd1ZXIo14CCxhKYmuewaasce" data-list="bullet">
<div>- The SEC has delayed the decision on Ethereum ETF options trading to April 9.</div>
</li>
<li class="ace-line ace-line old-record-id-FkfudOBKKoDKXtxrlg5un9UOsnI" data-list="bullet">
<div>- Uniswap introduced Unichain Validator Network (<a rel="nofollow" href="https://x.com/UniswapFND/status/1886819610336616722">UVN</a>), sharing 65% of revenue to validators and stakers. The UVN will be live on testnet for several months before going live.</div>
</li>
<li class="ace-line ace-line old-record-id-Hodbd510PoC7JKxnOvjuO02Mswf" data-list="bullet">
<div>- Usual passed the proposal to launch the&nbsp;<a rel="nofollow" href="https://v1.snapshot.box/#/usualmoney.eth/proposal/0x1b081d3b3dd611094e96b690dc5d981d86bb724cce5ef562d9eecbe580b535c2">USL module</a>, creating a fixed borrowing cost vault for USD0++ to borrow USD0.</div>
</li>
<li class="ace-line ace-line old-record-id-M36ldBuoDoOo2OxreelupSv1sIb" data-list="bullet">
<div>- Lido announced&nbsp;<a rel="nofollow" href="https://x.com/LidoFinance">v3</a> will be coming soon without much details.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusEZkfz4LMX43vi99adLmHgg">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus2WvzVZf0DT0yTyypeeGOJg">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-HU0FdVhVyooAKfxDctIuuq8HsLa" data-list="bullet">
<div>- IO token unlocked on February 11, amount representing 2.58% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-JyFTd5GR7oytbbxRaKguwCJaseh" data-list="bullet">
<div>- APT token unlocked on February 12, amount representing 1.98% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-TPaDdGv9NoVyxjxXXxpuk8xvsgd" data-list="bullet">
<div>- SAND token unlocked on February 14, amount representing 8.41% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-LiAadsYPboDBL9xzDjiuMIgEsYf" data-list="bullet">
<div>- STRK token unlocked on February 15, amount representing 2.45% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-RBF0dxeEroFGqgx2JXUuCYHdswc" data-list="bullet">
<div>- ARB token unlocked on February 16, amount representing 2.13% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-DXB9dqsQIoQXobxBGrruj28rsRf" data-list="bullet">
<div>- APE token unlocked on February 17, amount representing 2.12% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-NaLsdxw7lo3EZfxZ0NVu5ters4d" data-list="bullet">
<div>- MELANIA token unlocked on February 20, amount representing 23.3% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-YIOrd2Ap6o1ugJxJi5gutyRHsLo" data-list="bullet">
<div>- IMX token unlocked on February 21, amount representing 1.41% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-YjmDdPaW1oMxPWxPOqluIn8ssmb" data-list="bullet">
<div>- PLUME token unlocked on February 21, amount representing 5.32% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-C4dJdfzMSo2FEcxLcNrueTHosjf" data-list="bullet">
<div>- ALT token unlocked on February 25, amount representing 9.47% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-SlUYdj6HMoPwvZxCTAvu3r9msug" data-list="bullet">
<div>- OP token unlocked on February 28, amount representing 2.39% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-NsfFdrlCIoOT7sxGKg5ulPgJs0g" data-list="bullet">
<div>- GRASS token unlocked on February 28, amount representing 1.52% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusc8sktAsqDiZKHqvkXPeOSe">&nbsp;</div>
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Headline News



- Despite Trump halting tariffs on Mexico, Canada and low-cost packages from China, the market staye

Weekly Market Insight: February Week 2

<div data-page-id="ZKaNdtz4po0pjFxFy1tunEaIs4c" data-lark-html-role="root" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusit0kGSy283wG97nBIodJws">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-BuBldvtYhoo06xxExzVux4dMssb" data-list="bullet">
<div>- Bitcoin and the broader crypto market experienced a massive sell-off alongside the US stock market. Bitcoin's price declined by 4.8% last week, driven by macro factors such as the impact of the DeepSeek R1 model and Trump's announcement of a 25% tariff on Canada and Mexico, a 10% tariff on China, and a commitment to implementing additional tariff measures on EU countries.</div>
</li>
<li class="ace-line ace-line old-record-id-WrNodm8N1oTeZZxdkBfuAA9Gsjf" data-list="bullet">
<div>- Bitcoin's price plummeted another 3.8% on Monday, triggering over $2 billion in liquidations. The Crypto Fear and Greed Index dropped to its lowest level since October 2024.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusUgU5TeQMQGZ1YsXc9hkzMb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus213cVNTXDyhvpLAem0ou5b">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-X8eddQhgHoppMUxjhdHuEcVbsIH" data-list="bullet">
<div>- Jerome Powell announced that interest rates will remain unchanged, expressing concern over elevated inflation. The market currently estimates a 63% probability of a 25bps rate cut in June.</div>
</li>
<li class="ace-line ace-line old-record-id-L7n6ds7lMoZN0Bxe32gudBEnsQc" data-list="bullet">
<div>- The ECB cut the deposit facility rate by 25bps to 2.75%, in line with market expectations.</div>
</li>
<li class="ace-line ace-line old-record-id-CiABdWNr3owGQjxJHWeuoZHBsve" data-list="bullet">
<div>- The US advanced GDP reading declined to 2.3% in Q4 2024, the slowest growth in three quarters, down from 3.1% in Q3 and below forecasts of 2.6%. Durable goods orders fell by 2.2% in December, significantly missing market expectations of a 0.6% increase.</div>
</li>
<li class="ace-line ace-line old-record-id-PabqdnY1uoitNTxbkNyuAZcestg" data-list="bullet">
<div>- The U.S. core PCE annual rate for December came in at 2.8%, matching both expectations and the previous reading. Personal income in December increased by 0.4%, in line with market expectations, while personal spending rose by 0.7%, surpassing the forecast of 0.5%.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus4DCFnzIOUlbNoaCg9VeI1b">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusrpfHYnBcV6j8B9S00NCm1f">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxussXuEYv3r38853PsRlnvD9g" data-list="bullet">
<div>- Monday, February 3, 11:00pm: The U.S. Manufacturing PMI in January</div>
</li>
<li class="ace-line ace-line old-record-id-ZnDXdXVDRoTNr3xY17buscjLsfd" data-list="bullet">
<div>- Tuesday, February 4, 11:00pm: The JOLTs Job Openings in December</div>
</li>
<li class="ace-line ace-line old-record-id-DnhYdVtoxoxUbMxsqlNuMSR4sIg" data-list="bullet">
<div>- Wednesday, February 5, 11:00pm: The U.S. Services PMI in January</div>
</li>
<li class="ace-line ace-line old-record-id-RcNid0WpToCptGxbVlYuV7K6sSc" data-list="bullet">
<div>- Friday, February 7, 9:30pm: The U.S. Non-Farm Payroll and Unemployment Rate in January</div>
</li>
<li class="ace-line ace-line old-record-id-PYPedA15goKiDWxhNJeuXFm8ssf" data-list="bullet">
<div>- Friday, February 7, 11:00pm: Michigan Consumer Sentiment in February</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusaRCoLXNSW4iqFjWXAMypud">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusAAoDynsFvTjP6fGTdarP6g">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusL0cY2G3wHzhubcQRw257qd" data-list="bullet">
<div>- Two MicroStrategy of Ethereum have been introduced, both shared the same name as ETH Strategy. One is led by&nbsp;<a rel="nofollow" href="https://x.com/josephdelong/status/1883200366042599484">Joseph and Justin</a>, while another one is led by <a rel="nofollow" href="https://x.com/eth_strategy/status/1883092589622223023">Clouted</a>.</div>
</li>
<li class="ace-line ace-line old-record-id-VefGdYhuRoF7nQx9OQTuI1Mhsjd" data-list="bullet">
<div>- MicroStrategy Chair, Michael Saylor, has raised&nbsp;<a rel="nofollow" href="https://www.microstrategy.com/press/microstrategy-announces-pricing-of-strike-preferred-stock-offering-strk_01-31-2025">$563.4 million</a> via new series A perpetual strike preferred stock (<a rel="nofollow" href="https://www.microstrategy.com/press/microstrategy-announces-pricing-of-strike-preferred-stock-offering-strk_01-31-2025">STRK</a>) which aims to be listed on NASDAQ, and will conditionally convert into more shares of MSTR.</div>
</li>
<li class="ace-line ace-line old-record-id-D0Fvd4M10obGXTxXn0Nuw2yAsvd" data-list="bullet">
<div>- The&nbsp;<a rel="nofollow" href="https://x.com/CNB_cz/status/1884964941657993562">Czech National Bank </a>approved a proposal to analyse the options for investing in additional asset classes such as crypto asset.</div>
</li>
<li class="ace-line ace-line old-record-id-DN8SdTKAVoLBCEx2RIAumsytsRd" data-list="bullet">
<div>- Trump Media Group introduced new financial services and FinTech brand,&nbsp;<a rel="nofollow" href="https://www.globenewswire.com/news-release/2025/01/29/3017197/0/en/Trump-Media-Announces-Expansion-into-Financial-Services.html">TruthFi</a>, investing $250 million in SMAs, ETFs, Bitcoin and crypto-related securities, with plans to enter the decentralized finance sector.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxuso1LOyq8xjjXO2JrOw0EPdf">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusqVnbmLIIzOO4nZxsTMgZ0d">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusarSsCKW4DmSfXOnBx9r0uC" data-list="bullet">
<div>- Abstract Chain launched its&nbsp;<a rel="nofollow" href="https://x.com/AbstractChain/status/1883939915169423777">mainnet</a>, introducing seamless onboarding with web2 credentials, Abstract portal for interacting with protocol ecosystem and earns XP.</div>
</li>
<li class="ace-line ace-line old-record-id-ORIDdl2rLogQ93xkzxqusPwsslg" data-list="bullet">
<div>- Movement has launched its developer&nbsp;<a rel="nofollow" href="https://x.com/movementfdn/status/1884270468586508535">mainnet</a>, offering permissionless app deployment. Movement is reportedly in discussion with the Department of Government Efficiency (<a rel="nofollow" href="https://x.com/tier10k/status/1884252132540571895">DOGE</a>) as the blockchain solution for the department. World Liberty Finance (WLFI) has acquired approximately 2.4 million MOVE.</div>
</li>
<li class="ace-line ace-line old-record-id-OvpAdFmxRoEqX5xYZrxuQTUXsxe" data-list="bullet">
<div>- Cardano has completed&nbsp;<a rel="nofollow" href="https://x.com/Cardano_CF/status/1884725463190315233">Plomin</a> Hard Fork, enabling Delegate Representatives (dReps) which represent ADA holders to vote on treasury measures and hard forks.</div>
</li>
<li class="ace-line ace-line old-record-id-VYyYdHTQfoVs9fxZ0Huuvw8UsJe" data-list="bullet">
<div>- UBS Bank has tested its UBS Key4 Gold product on&nbsp;<a rel="nofollow" href="https://x.com/zksync/status/1885329177446133998">ZKSync</a>, allowing its Swiss customers to directly purchase physical gold.</div>
</li>
<li class="ace-line ace-line old-record-id-ZPcsd0Pc1on4pdxcrAnuFbresAb" data-list="bullet">
<div>- Mantle introduced Enhanced Index Fund which provides seamless exposure to crypto beta,&nbsp;<a rel="nofollow" href="https://x.com/Mantle_Official/status/1882017058680086805">Mantle Banking</a> which provides seamless payment, lending and wealth management, and Mantle X which deploys and manages AI agents tailored for the broad universe of Mantle.</div>
</li>
<li class="ace-line ace-line old-record-id-WSYFdiRfooimiVxdU95uLuL6sSc" data-list="bullet">
<div>- Mode launched&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/337156/mode-launches-synth-subnet-on-bittensor-to-build-decentralized-ai-that-predicts-crypto-prices">Synth</a> subnet on Bittensor, incentivising miners to develop price forecasting model for AI Agent.</div>
</li>
<li class="ace-line ace-line old-record-id-Sye3dlsAKoirb1xffKOukGazsCe" data-list="bullet">
<div>- Initia introduced&nbsp;<a rel="nofollow" href="https://x.com/tansawit/status/1882612567929131357">Weave</a>, providing users with a CLI that offers the same simple and hassle-free deployment experience as RaaS while empowering them with the customizability and control of a local deployment.</div>
</li>
<li class="ace-line ace-line old-record-id-UmZVdEVRXoT3FfxdBZEuMFNKs7d" data-list="bullet">
<div>- Sei Foundation launched a&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/337808/sei-foundation-desci-venture-fund-sapien-capital">$65 million</a> venture fund to back DeSci protocols on its network.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-BrkWdaNPKoLk9txfpapuRWlOsJg">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxuscxF7sj6eeKVQOWyGrll4Gf">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxuskM2y4ASNcP5G3gYqnUQ7Vg" data-list="bullet">
<div>- Uniswap&nbsp;<a rel="nofollow" href="https://x.com/Uniswap/status/1885329579495080248">V4</a> is now live across 10 different networks, featuring hooks contracts that allow anyone to customize how pools, swaps, fees, and LP positions interact.</div>
</li>
<li class="ace-line ace-line old-record-id-M211dkqEMo38zExpD7uukKMps3c" data-list="bullet">
<div>- Virtuals announced expansion to&nbsp;<a rel="nofollow" href="https://x.com/virtuals_io/status/1883107553183162507">Solana</a> and commits using 1% of trading fees to buy SOL for creating a Strategic SOL Reserve to support and reward agents and creators. Virtuals also announced its <a rel="nofollow" href="https://x.com/virtuals_io/status/1884938359573000665">Nation Fiscal Policy</a> which includes support from pre-launch, post-launch but pre-sentience, post-sentience and post-launch fundraising. The policy aims to support good AI agents with funding, liquidity and publicity.</div>
</li>
<li class="ace-line ace-line old-record-id-NSkgd9OsaoD1j9x693AuWSPhs8d" data-list="bullet">
<div>- Maple Finance introduced the "<a rel="nofollow" href="https://x.com/maplefinance/status/1882095312279601485">Lend + Long</a>" vault, enabling users to earn 4% floor APY and variable yield based on BTC price action. The excess yield generated from loans is used to buy BTC call option.</div>
</li>
<li class="ace-line ace-line old-record-id-OA5td9wLyo3DISxk9tCuFKYdsyg" data-list="bullet">
<div>- Symbiotic launched its&nbsp;<a rel="nofollow" href="https://x.com/symbioticfi/status/1884266642416492713">mainnet</a>, more than 13 protocols have already onboarded the shared security mechanism.</div>
</li>
<li class="ace-line ace-line old-record-id-IEgMdD519oFpTtxEZbquBZOysEb" data-list="bullet">
<div>- Karak, another restaking protocol, announced details of its&nbsp;<a rel="nofollow" href="https://blog.karak.network/unveiling-kar/">KAR</a> token. The token will facilitate the Karak Network Stack (KNS) and cross-boarder transfers between Layer-1 within Karak ecosystem. KNS will be the primary focus on Karak's 2025 <a rel="nofollow" href="https://blog.karak.network/roadmap-2025/">roadmap</a>, which provides flexible toolkit to spin up specialized Layer 1 blockchains for anyone.</div>
</li>
<li class="ace-line ace-line old-record-id-OPlcdWE1mouOMbxO7ycuPc4Wsbc" data-list="bullet">
<div>- Injective upgraded its&nbsp;<a rel="nofollow" href="https://x.com/injective/status/1884618249616146621">EVM</a> compatibility into the core architecture, increasing the max throughput by 13x, atomic transactions and introducing plug-and-play modules for easy deployment.</div>
</li>
<li class="ace-line ace-line old-record-id-HnpjdgSjvobDRSxBMVruXLjssuf" data-list="bullet">
<div>- Jito has launched its&nbsp;<a rel="nofollow" href="https://x.com/jito_sol/status/1884995151455568107">TipRouter</a> on the mainnet. It will take a 3% fee from tips and split to 2.7% to Jito DAO Treasury, 0.15% to JitoSOL vault stakers and 0.15% to JTO vault stakers</div>
</li>
<li class="ace-line ace-line old-record-id-LTMidQH2votIZGxUPSCubh7assg" data-list="bullet">
<div>- ElizaOS launched&nbsp;<a rel="nofollow" href="https://t.co/1bk7cs1TBM">v0.1.9</a>, featuring Instagram client, Discord and Telegram autonomous agent enhancements, NVIDIA inference, Livepeer LLMs and more. The team also announced ai16z will build single-sided <a rel="nofollow" href="https://x.com/shawmakesmagic/status/1883646407803895976">LP positions</a> using the agent tokens in the portfolio to generate additional yield.</div>
</li>
<li class="ace-line ace-line old-record-id-Uj9Udl9vOoo29OxwYn0u90fisGg" data-list="bullet">
<div>- LRT&sup2; has rebranded to&nbsp;<a rel="nofollow" href="https://x.com/thekingprotocol/status/1884311012091826438">King Protocol</a>, a basket of yield reward generated via restaking.</div>
</li>
<li class="ace-line ace-line old-record-id-PbEcdkwCaoFYUNxCTJFuIeSzskq" data-list="bullet">
<div>- Phala Network partnered with NEAR to develop&nbsp;<a rel="nofollow" href="https://x.com/PhalaNetwork/status/1883935788754186527">Private ML SDK</a>, an open-source solution for secure and verifiable LLM.</div>
</li>
<li class="ace-line ace-line old-record-id-LqmTdB8n8okhBuxLuIpuHhdks7d" data-list="bullet">
<div>- Nous Research announced&nbsp;<a rel="nofollow" href="https://nousresearch.com/nous-psyche/">Psyche</a>, a decentralised network designed to train AI models.</div>
</li>
<li class="ace-line ace-line old-record-id-JU0cdw09YoAEmXxyZlxuxLaespc" data-list="bullet">
<div>- Aethir partnered with MAITRIX to launch&nbsp;<a rel="nofollow" href="https://x.com/AethirEco/status/1883892786266886315">AUSD</a>, an overcollaterised stablecoin backed by ATH, designed to facilitate predictable rewards for GPU Cloud Hosts.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusb4hBb0T0gGrSV4zrnmn2Kb">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusp8GtTaxIKz5iHSqxximmpe">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-RvF5deX9AohRK5x1H8vuWLTPsGg" data-list="bullet">
<div>- Berachain is expected to launch its mainnet very soon.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusos8VYWHfZq4ZaLsp6icR7c" data-list="bullet">
<div>- Jupiter is expected to start the JUP buyback mechanism using 50% of the protocol fees this week.</div>
</li>
<li class="ace-line ace-line old-record-id-TRO7dABtEoPhbrxmHUJusAxusEd" data-list="bullet">
<div>- Ondo is holding the Ondo Summit on February 6 in New York City. The team is expected to make some major reveals during the event.</div>
</li>
<li class="ace-line ace-line old-record-id-SZG0dxpCsoFXoMxNpFDuE4dLsIb" data-list="bullet">
<div>- The DeFAI project, Hey Anon, is expected to go live on Febraury 7.</div>
</li>
<li class="ace-line ace-line old-record-id-CoQ2dzDhhoSpexxojmKuDEF4sIb" data-list="bullet">
<div>- Pudgy Penguins teased collaboration with Line Friends.</div>
</li>
<li class="ace-line ace-line old-record-id-Nj3Wdy8AXoetZnxbdd4uP1hWsdg" data-list="bullet">
<div>- Near announced&nbsp;<a rel="nofollow" href="https://pages.near.org/blog/advancing-chain-signatures-whats-next/">Chain Signiture Roadmap</a>, aiming to increase throughput by 30x and reduce latency by 50%. The team also aims to integrate TEE for the MPC network, support Solana and TON signature schemes, and read data from other chains.</div>
</li>
<li class="ace-line ace-line old-record-id-Lierd0DvAoFLfAxZBLkuFz6qsOe" data-list="bullet">
<div>- TON Network shared its&nbsp;<a rel="nofollow" href="https://telegra.ph/TON-Core-Roadmap-2025-H1-01-22">2025 H1 roadmap</a> which included Accelerator upgrade, increasing network throughput and stability during peak loads.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusnCgzfFR1ISJvzHlEnKJeve">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusqOJdeEmW77ssciGmM1VmmQ">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-QMkldxSJjoGX1ZxZfr8ul8NlsGY" data-list="bullet">
<div>- JTO token unlocked on February 7th, amount representing 3.97% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-QDGPdwmywo7FToxT3L7udNFgsUd" data-list="bullet">
<div>- MOVE token unlocked on February 9th, amount representing 2.17% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-HRyzd1oS0oyfdvxRxt3uE9D2s1c" data-list="bullet">
<div>- IO token unlocked on February 11th, amount representing 2.58% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-MB0FdYeq7oKPnQxjkzSuG9Nusbd" data-list="bullet">
<div>- APT token unlocked on February 12th, amount representing 1.98% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-PmwjdkN9poGaFfxGVZtuVYxysOf" data-list="bullet">
<div>- SAND token unlocked on February 14th, amount representing 8.41% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-YSetdRGWpoAEy6xrJExuSCXOshh" data-list="bullet">
<div>- STRK token unlocked on February 15th, amount representing 2.45% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-I378deIFQoSmJMxhSuoumwfIsD9" data-list="bullet">
<div>- ARB token unlocked on February 16th, amount representing 2.13% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-YDavdAI0joz4kVxOTTaurvSVsyc" data-list="bullet">
<div>- APE token unlocked on February 17th, amount representing 2.12% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-RejSdkJ1goQQzaxTVySuRR2GsPc" data-list="bullet">
<div>- MELANIA token unlocked on February 20th, amount representing 23.3% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusoyvax12B0ckMMCzhRYAGFY">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusMGOs5fXxeMEmTyW8V9FEyp">Please click <a rel="nofollow" href="https://chainupgroup.larksuite.com/share/base/form/shruso3ZBWdvpzRlCT4jwnicgrb">HERE</a> to subscribe for weekly market insight and exclusive research.</div>
</div>




Headline News



- Bitcoin and the broader crypto market experienced a massive sell-off alongside the US stock market

Weekly Market Insight: February Week 1

<div data-page-id="HihCdG9ZvosHEbxgizCuYLV1sor" data-lark-html-role="root" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-doxusyD5p7D1EUjJ0Tv9RAww9Gb">
<div>
<h2 class="heading-2"><strong>Headline News</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-MiV8d3LB2oWtK7xAgCpu90bfsXD" data-list="bullet">
<div>- After Donald Trump&rsquo;s inauguration, he pardoned Ross Ulbricht, the founder of the Silk Road website, who had spent over 11 years in prison. Trump also signed an executive order to establish regulations for the crypto industry, including exploring the potential for a national digital asset stockpile. The newly appointed SEC acting chair, Mark Uyeda, has formed a task force to develop a clear regulatory framework for the crypto industry. Meanwhile, Senator Cynthia announced she will chair the Senate Banking Subcommittee on Digital Assets. Eric Trump has reportedly confirmed that U.S.-based crypto projects will benefit from a zero capital gains tax. Additionally, Elon Musk is said to be exploring blockchain solutions within the Department of Government Efficiency (DOGE).</div>
</li>
<li class="ace-line ace-line old-record-id-DtT5d6HppoLo2qxVLiHumpbDsvc" data-list="bullet">
<div>- Institutional interest in crypto has reached unprecedented levels. BlackRock CEO Larry Fink has urged the SEC to approve the tokenization of bonds and stocks. The stablecoin market cap increased by approximately $5.7 billion last week, marking the largest weekly growth since November 2024.</div>
</li>
<li class="ace-line ace-line old-record-id-EE11dvR3Woo14KxaoSYue0uYsVd" data-list="bullet">
<div>- Bitcoin's price increased by approximately 3.8% last week, reaching a new all-time high of $109,400 before quickly retracing.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusls8cTzDKOuEUt1iZiZeb9d">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusP8gSNWNR27mmuG5wpCUYbf">
<div>
<h2 class="heading-2"><strong>Macro-Outlook</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusg2DMJY59puzVRMMGeOZg8m" data-list="bullet">
<div>- The BoJ increased the interest rate by 25bps, in line with market consensus.</div>
</li>
<li class="ace-line ace-line old-record-id-U0NGdJDTdoLBcKx4PyXuBuWjsWb" data-list="bullet">
<div>- The market's direction this week will hinge on key factors, including the anticipated FOMC meeting and earnings reports from major companies such as Microsoft, Tesla, and Apple. Additionally, political statements from President Trump may also influence market sentiment.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxuswzV9OiakeInPlF1WWQ7fte">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxus5BRgTaO8vM1NIdhLSQmZUx">
<div>
<h4 class="heading-4"><strong>Upcoming Economic Calendar including,</strong></h4>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-doxusnJJuMlylGzNPuaVk5xG2Te" data-list="bullet">
<div>- Tuesday, January 28, 9:30pm: The U.S. Durable Goods Orders in December</div>
</li>
<li class="ace-line ace-line old-record-id-GiMhdZAcYoAT7TxJQWnuVLoNszc" data-list="bullet">
<div>- Thursday, January 30, 3:00am: The FOMC meeting</div>
</li>
<li class="ace-line ace-line old-record-id-OA6NdHxavoa1YYxhoVKuzx0wswe" data-list="bullet">
<div>- Thursday, January 30, 9:30pm: The U.S. Q4 Advance GDP</div>
</li>
<li class="ace-line ace-line old-record-id-F299dXQE7otsWvxp5Oeu916Lsge" data-list="bullet">
<div>- Friday, January 31, 9:30pm: The U.S. Core PCE, Personal Income and Personal Spending in December</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus8eLg6kH51DsqWhDZ5x64of">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxusyCxOAMFIAvbpSz3uI7HRtf">
<div>
<h2 class="heading-2"><strong>Weekly-Cryptos-Overview</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-AAsEdgUOfoC2LnxgNq6uC7o3sjf" data-list="bullet">
<div>- The SEC has rescinded&nbsp;<a rel="nofollow" href="https://x.com/HesterPeirce/status/1882562977985114185">SAB 121</a>, which requires banks to treat digital assets as liability in their balance sheet. The repeal of SAB 121 potentially leads to an increasing number of banks providing digital asset services.</div>
</li>
<li class="ace-line ace-line old-record-id-Pg5BdsSbZoFfBvxRglUuVmJmsmc" data-list="bullet">
<div>- The U.S. Court lifted the&nbsp;<a rel="nofollow" href="https://www.ca5.uscourts.gov/opinions/pub/23/23-50669-CV0.pdf">OFAC sanction</a> against Tornado Cash.</div>
</li>
<li class="ace-line ace-line old-record-id-doxusrV8ZWI1EF5X9bvbPNkFpkd" data-list="bullet">
<div>- REX Advisers has filed TRUMP, ETH, BTC, SOL, XRP, BONK and DOGE&nbsp;<a rel="nofollow" href="https://www.sec.gov/Archives/edgar/data/1771146/000199937125000494/rexosprey-485apos_012125.htm">ETF</a> with the SEC.</div>
</li>
<li class="ace-line ace-line old-record-id-UAGCd5RP6ow9nJxt9M4uhg3Rswb" data-list="bullet">
<div>- Microstrategy shareholders voted to&nbsp;<a rel="nofollow" href="https://www.theblock.co/post/336102/microstrategy-votes-to-increase-number-of-shares-fuel-bitcoin-purchases">increase shares</a> to purchase more Bitcoin.</div>
</li>
<li class="ace-line ace-line old-record-id-ThQ9dirTTotP7LxUq2muWlhMsGh" data-list="bullet">
<div>- Circle announced acquisition of&nbsp;<a rel="nofollow" href="https://www.coindesk.com/business/2025/01/21/circle-enters-tokenization-race-by-acquiring-hashnote-usd1-3b-real-world-asset-issuer">Hashnote</a>, the issuer of the $1.3 billion tokenised money market fund. Circle also introduced <a rel="nofollow" href="https://www.circle.com/blog/introducing-circle-paymaster">Paymaster</a>, enabling users to pay for gas with USDC on Arbitrum and Base.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus3nlFT9WMt7XzI5fnDoSJGf">
<div>
<div>&nbsp;</div>
<div>
<h3 class="heading-3 ace-line old-record-id-doxusu3hlWmL220bFjsBXjhMMXe">&nbsp;&nbsp;<strong>Layer 1 and Layer 2s</strong></h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-YJibdDEKfohNYDxdWxguUFjfsog" data-list="bullet">
<div>- Avalanche announced a partnership with Aethir, launching a $100 million ecosystem fund to support&nbsp;<a rel="nofollow" href="https://x.com/AvalancheFDN/status/1881688545183907892">infraBUIDL(AI)</a> projects within the Avalanche ecosystem.Avalanche has been widely speculated to be the ideal network for DOGE, with its founder, Emin G&uuml;n Sirer, serving on the CFTC's Technology Advisory Committee, further supporting this possibility.</div>
</li>
<li class="ace-line ace-line old-record-id-doxus6PXsMYH8awirwNBWjbh8h3" data-list="bullet">
<div>- Atoma announced a $100,000&nbsp;<a rel="nofollow" href="https://x.com/Atoma_Network/status/1881748644065612147">Sui Agent Typhoon Hackathon</a> in collaboration with Sui and ElizaOS.</div>
</li>
<li class="ace-line ace-line old-record-id-HwaMdfnPkoI8gixlaWQuBkgusYd" data-list="bullet">
<div>- Sonic announced a $250,000&nbsp;<a rel="nofollow" href="https://x.com/SonicLabs/status/1881713141257842714">DeFAI Hackathon</a> in partner with HeyAnon, DoraHacks and Zerebro.</div>
</li>
<li class="ace-line ace-line old-record-id-We9AdCWeaorxXxxnRptubjLysNg" data-list="bullet">
<div>- TON Network announced TON's&nbsp;<a rel="nofollow" href="https://venturebeat.com/games/ton-becomes-the-exclusive-blockchain-for-telegrams-mini-app-platform/">wallet connect</a> as the exclusive wallet link for Telegram mini-app platform to blockchain wallets.</div>
</li>
<li class="ace-line ace-line old-record-id-Or0Nd16m4o3TB9x6LK9u3JiUs9g" data-list="bullet">
<div>- Blast introduced&nbsp;<a rel="nofollow" href="https://x.com/blast/status/1882573417347723382">Blast mobile</a> and incentivising users with 50% APY on USD for BLAST holders.</div>
</li>
<li class="ace-line ace-line old-record-id-Ytaydz9H5oJVtsxOGPGuaqE0s9g" data-list="bullet">
<div>- Chintai announced expansion to the&nbsp;<a rel="nofollow" href="https://x.com/GunnisonCap/status/1882069474309730584">U.S. market </a>and pursuing securities licensing from regulators.</div>
</li>
<li class="ace-line ace-line old-record-id-doxus9nWq1jcMXP8YlHVAnOdF6g" data-list="bullet">
<div>- Particle Network launched&nbsp;<a rel="nofollow" href="https://blog.particle.network/universalx-v2/">UniversalX V2</a>, a chain-agnostic trading platform.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusbP4M7NpeJwgYInJIVdCETg">&nbsp;</div>
<h3 class="heading-3 ace-line old-record-id-doxusnHEaeyNNgTCEkfaMx6cMcb">&nbsp;&nbsp;Dapps</h3>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-GLGXdkjv4o0ONyxVxNIusqSvsab" data-list="bullet">
<div>- World Liberty Financial (WLFI) announced a strategic purchase of WBTC, ETH, AAVE, LINK, TRX and ENA. The team later staked approximately 19,400 ETH into Lido.</div>
</li>
<li class="ace-line ace-line old-record-id-VPukdRxL4oCAzfxAbJHuLguUssg" data-list="bullet">
<div>- Jupiter announced 50% of the protocol fees will go towards JUP&nbsp;<a rel="nofollow" href="https://x.com/JupiterExchange/status/1883490117463265318">buyback</a>. Jupiter introduced <a rel="nofollow" href="https://meow.bio/jupnet">Jupnet</a>, an omnichain network that aims to aggregate all crypto into one single decentralized ledger beyond Solana. Jupiter also acquired a majority stake in the trending <a rel="nofollow" href="https://x.com/weremeow/status/1883068425737556153">Moonshot</a>, as well as <a rel="nofollow" href="https://x.com/JupiterExchange/status/1883080862981599490">Sonar Watch</a>. Jupiter also introduced <a rel="nofollow" href="https://x.com/JupiterExchange/status/1883073626502787514">Spot V2</a>, enabling Ultra Mode where users are able to view real time slippage estimation, dynamic priority fees, optimised transaction landing and more. The team announced the burn of 3 billion JUP, following the proposal to burn 30% of the JUP supply, which was approved in August.</div>
</li>
<li class="ace-line ace-line old-record-id-IUnOdQcAkoe71yx8WSyu94w7sMd" data-list="bullet">
<div>- Virtuals announced its expansion to&nbsp;<a rel="nofollow" href="https://x.com/virtuals_io/status/1883107553183162507">Solana</a> network. 1% of the trading fees will be converted to SOL as Strategic SOL Reserve.</div>
</li>
<li class="ace-line ace-line old-record-id-TF6bdPNJqol75SxVI2fuQLn7syh" data-list="bullet">
<div>- Truth Terminal (TT) creator, Andy announced the&nbsp;<a rel="nofollow" href="https://x.com/AndyAyrey/status/1882318084415090857">foundation</a> has established to give TT autonomy and sold approximately 75% of its FARTCOIN holding to GOAT, and intended to holding indefinitely.</div>
</li>
<li class="ace-line ace-line old-record-id-NWbMdl8MWoRX62xIuidu7tTmslM" data-list="bullet">
<div>- Dracula Labs introduced&nbsp;<a rel="nofollow" href="https://x.com/dracula_labs/status/1883393340135317923">DRACULA</a>, a TypeScript framework for distributed AI agents with cryptographic consensus, rule-based logic, and collaborative swarms.</div>
</li>
<li class="ace-line ace-line old-record-id-N7EydcsnJoOLwkx58fvu6M7asFb" data-list="bullet">
<div>- REI Network announced a partnership with&nbsp;<a rel="nofollow" href="https://x.com/ReiNetwork0x/status/1883211131889819879">Arkham</a> for providing onchain insight to its agent and better pattern recognition training.</div>
</li>
<li class="ace-line ace-line old-record-id-ThG9dHn7voGYxHxnHYauMueMs9f" data-list="bullet">
<div>- Kaito introduced&nbsp;<a rel="nofollow" href="https://x.com/_kaitoai/status/1882074567365341228">Yapper Launchpad</a>, empowering Yaps point holders, influencers with smart followers and its genesis NFT holders to vote on protocols to be selected for Yapper Leaderboard. KOLs will be able to earn Yaps points for gaining mindshare on the respective protocols.</div>
</li>
<li class="ace-line ace-line old-record-id-FoLDddayeozjZOxrsebu1oA1sze" data-list="bullet">
<div>- INFINIT launched&nbsp;<a rel="nofollow" href="https://x.com/Infinit_Labs/status/1881703397885354288">INFINIT Terminal</a>, a DeFAI agent that allows users to swap, lend and engage in yield trading.</div>
</li>
<li class="ace-line ace-line old-record-id-OOuedCLryog5vCxbKp2uLXRjsWq" data-list="bullet">
<div>- Thorchain announced the protocol is&nbsp;<a rel="nofollow" href="https://x.com/1984_is_today/status/1882616341926162653">insolvent</a> if there is a large debt redemption from the ThorFi Saver and Lending program.</div>
</li>
<li class="ace-line ace-line old-record-id-Mkc3dJq49oCh0SxIWwQuasOIs9e" data-list="bullet">
<div>- Fluid protocol introduced&nbsp;<a rel="nofollow" href="https://x.com/0xfluid/status/1882493362617581795">Multiply</a>, enabling users to create an easy loop position on Fluid.</div>
</li>
<li class="ace-line ace-line old-record-id-KXjSdJc13o4KdLxOAlZubMxmsPb" data-list="bullet">
<div>- Liquity&nbsp;<a rel="nofollow" href="https://x.com/LiquityProtocol/status/1882431900075376882">V2</a> is live on the mainnet, offering customised user-set interest rates and 100% revenue redirect to users.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus3ixImvqUoV07MwLcddPFBd">&nbsp;</div>
<div class="ace-line ace-line old-record-id-doxuswrNDyiR06R65xqnrpxL5Qd">
<div>
<h2 class="heading-2"><strong>Upcoming Alpha and Governance</strong></h2>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-N87tdg8EpoqtmOxNJYSu7x9MsxO" data-list="bullet">
<div>- Uniswap&nbsp;<a rel="nofollow" href="https://x.com/Uniswap/status/1881810167429501293">V4</a> is expected to launch this week.</div>
</li>
<li class="ace-line ace-line old-record-id-JHnidssWGoA3RzxBFC8uVgyrsog" data-list="bullet">
<div>- Abstract Chain is expected to launch this week.</div>
</li>
<li class="ace-line ace-line old-record-id-doxuskiCJ79Ch5v8EhwTRLZ2R1e" data-list="bullet">
<div>- CoW DAO passed&nbsp;<a rel="nofollow" href="https://snapshot.box/#/s:cow.eth/proposal/0xbafee087f3a1d5757e44a72fa76e8624ce212623153816a936a8888741485ef5">CIP-61</a>, implementing a finalised revenue-sharing model starting on February 1.</div>
</li>
<li class="ace-line ace-line old-record-id-QvrIdb8HRojDDuxFcBOub2Lzs6g" data-list="bullet">
<div>- Coinbase CEO announced potential integration of&nbsp;<a rel="nofollow" href="https://x.com/brian_armstrong/status/1883329603239899346">DEX</a> support for the customers.</div>
</li>
<li class="ace-line ace-line old-record-id-RY0YdAxoZoJO9fxdch9uEmhZsdd" data-list="bullet">
<div>- ElizaOS founder, Shaw, announced more details on&nbsp;<a rel="nofollow" href="https://x.com/ai16zNEWS/status/1883184985001341015">Eliza</a> V2 which plans to be launched in April 2025. Agent Marketplace, Block Tank (AI version of Shark Tank) and $10 million Magic Fund for developers.</div>
</li>
</ul>
<div class="ace-line ace-line old-record-id-doxusMRJsWFIBNL0a4USjnUUf9d">&nbsp;</div>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxusNt8KWcoNSGUHwWCixSRutd">
<div>
<h3 class="heading-3"><strong>Token Unlock</strong></h3>
<div>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-PPlkd2RT1o3bP7x2AA4uLx2usQh" data-list="bullet">
<div>- GRASS token unlocked on January 28th, amount representing 1.51% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Fj2Wd7z4ionmsNxgVZ5ue1IXsGe" data-list="bullet">
<div>- OP token unlocked on January 31st, amount representing 2.38% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-FR7ldtyPEolvzUxXhKMuISSCsff" data-list="bullet">
<div>- SUI token unlocked on February 1st, amount representing 2.66% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-C8dBdMf6HoQ4VzxJsRkuNKx7sWh" data-list="bullet">
<div>- DYDX token unlocked on February 1st, amount representing 2.67% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-QTuOda1EOoDP7qxuPMvutb4CsJb" data-list="bullet">
<div>- JTO token unlocked on February 7th, amount representing 3.97% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-Uq7jdT0fSoekFBxjBz4uyxQMsfc" data-list="bullet">
<div>- MOVE token unlocked on February 9th, amount representing 2.17% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-K5ihdB7ApoVzaqxroqKuCRP8sLs" data-list="bullet">
<div>- IO token unlocked on February 11th, amount representing 2.58% of the token supply.</div>
</li>
<li class="ace-line ace-line old-record-id-MwQvd8Qf2o7EGpxOz1ku6ZXrs5g" data-list="bullet">
<div>- APT token unlocked on February 12th, amount representing 1.98% of the token supply.</div>
</li>
</ul>
</div>
</div>
</div>
<div class="ace-line ace-line old-record-id-doxus5rKHhBNRocJppw5D6GiJNg">&nbsp;</div>
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