Key Takeaways:
- Crypto Market Performance: The crypto market remained weak in February, with BTC and ETH trading volumes showing a “high-to-low” pattern over the month. Significant outflows from BTC ETFs added downward pressure on prices. Major assets exhibited high volatility and strong correlation, driven largely by short-term sentiment without a sustained trend.
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Major Blockchain Data: Major blockchains stayed stable overall. Solana led with over 100 million daily transactions. On gas fees, Ethereum saw a notable spike on February 5, possibly linked to meme-driven activity or on-chain events. Tron maintained relatively high gas fees, consistent with its strong throughput.
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Hot Sector Developments: Ethereum’s unique active addresses reached 13.34 million, near historical highs. TradFi trading volume on Perp DEXs surged to $47.3 billion—up about 125% from December within two months—primarily driven by Hyperliquid HIP-3.
- Financing and Security: The Web3 sector saw 46 funding rounds totaling $986 million, mainly concentrated in CeFi, blockchain services, and DeFi. The top 10 projects raised $793 million, with three major deals led by Tether. Security incidents declined significantly, characterized by fewer mid-sized events and multiple smaller losses, with smart contract vulnerabilities remaining the dominant risk.
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