Tron Processes 994M Transactions in Q4 2025, Daily Peak Reaches 12.6M

USDT market capitalization declines for the second consecutive month, potentially putting pressure on market recovery

Tether's issued stablecoin USDT's market value decreased by 0.8% this month to $183.61 billion, marking two consecutive months of contraction, reflecting market capital outflows and putting pressure on Bitcoin and the overall market. Bitcoin's price experienced a rebound but then fell back to around $65,000.

Bitcoin ETF experiences over $2 billion in net outflows over six weeks, with IBIT redemptions leading, as institutional funds retreat suppresses BTC rebound

February 25 News, Bitcoin spot ETFs are experiencing a rare consecutive capital outflow cycle, with net redemptions occurring for six consecutive weeks, indicating a clear shift in institutional funding attitude. Data shows that on February 23 alone, net outflows reached $203.8 million. Previously considered a long-term allocation tool, ETFs have now become one of the sources of phased selling pressure, directly exacerbating market volatility. In terms of price, Bitcoin has fallen below the key level of $63,000, nearly a 50% retracement from the October 2025 all-time high of approximately $126,000. Market risk appetite has significantly cooled. The current average holding cost for ETF investors is about $84,100. With the current price around $68,000, most institutional accounts are still showing approximately 20% unrealized losses, further amplifying the motivation for redemptions.

PUMP funds have flowed out nearly $100 million in the past 24 hours, with zero fees and short sellers dominating. Key support levels are under pressure.

On February 25, news reports indicate that the native token PUMP of memecoin launch platform Pump.fun is facing significant selling pressure. Over the past 24 hours, its price has dropped approximately 9.5%, accompanied by a large-scale withdrawal of funds, and market risk sentiment has notably increased. Data shows that about $99.47 million was withdrawn in a single day, causing its market capitalization to quickly fall from approximately $715 million to $615 million, with signs of liquidity contraction becoming more evident. From a trading structure perspective, trading volume has actually increased during the price decline. This "volume-increasing decline" is often seen as a strong sell signal, indicating that sellers are dominating and continuously suppressing buying demand. Against the backdrop of ongoing capital outflows, market depth has decreased, and short-term volatility may further expand.

Ethereum's Censorship Resistant Upgrade Backed by Vitalik Buterin

Developers have slated FOCIL, a censorship-resistance proposal, as the centerpiece of Ethereum’s Hegota upgrade in late 2026. Vitalik Buterin says the change will guarantee the rapid inclusion of valid transactions, though critics warn of validator risks. Censorship Resistant Proposal Scheduled

USDT market capitalization declines for two consecutive months; weakening stablecoin liquidity may hinder Bitcoin and the crypto market recovery

February 25 News, the world's largest stablecoin USDT's market capitalization has once again shown signs of contraction, declining for the second consecutive month, prompting a reassessment of liquidity and capital strength in the crypto market. The latest data shows that USDT's market cap has decreased by approximately 0.8% this month to $183.6 billion, a significant pullback from the previous all-time high of $186.8 billion, continuing the downward trend from January. This consecutive shrinking is relatively rare since the stablecoin trust crisis in 2022, leading to a more cautious market sentiment. Stablecoins have long been regarded as the "capital reservoir" of the crypto market, with their size changes often directly reflecting off-chain capital inflows or outflows. Analyst Rachael Lucas pointed out that a reduction in stablecoin supply usually indicates a decline in market purchasing power. When liquidity tightens, the upward momentum of mainstream assets is also suppressed. The current weakening of USDT's market cap has been interpreted by some institutions as an important signal that capital has not yet flowed back into crypto assets on a large scale.