February 12th, according to DefiLlama data, mainstream Perp DEX trading volume has generally rebounded, but the positions on each platform remain low, with overall stability. Among them, Hyperliquid maintains a leading trading volume, reaching $7.5 billion in a single day, a significant increase from yesterday; however, its position has not shown a significant rebound. The current situation of major Perp DEX trading volume is as follows:Hyperliquid 24-hour trading volume is about $75.3 billion, TVL is about $42.3 billion, and open interest is about $49.0 billion;Aster 24-hour trading volume is about $36.4 billion, TVL is about $10.8 billion, and open interest is about $18.2 billion;EdgeX 24-hour trading volume is about $35.1 billion, TVL is about $18.5 billion, and open interest is about $10.2 billion;Lighter 24-hour trading volume is about $23.0 billion, TVL is about $9.22 billion, and open interest is about $7.22 billion;Grvt 24-hour trading volume is about $18.4 billion, TVL is about $89.26 million, and open interest is about $3.86 billion;Pacifica 24-hour trading volume is about $7.6 billion, TVL is about $37.87 million, and open interest is about $48.85 million.

February 12th, CEO Joseph Chee of Solana Company (HSDT), the publicly listed treasury company of the New York Stock Exchange, stated at the Consensus Hong Kong conference:“The first billion people to enter the blockchain world, those who will enter by clicking and using simple tokenized products and various investment targets, will come from here.This is why I believe the Solana supercycle will start in Asia—because there is a huge population base here and a group of people who are extremely open to new technology. The speed at which people here accept new things is much faster; you can see that everything happens much faster here than in other parts of the world, from seven-year-old children to grandparents in their eighties.”

February 12th: Today at the Consensus Hong Kong conference, Charles Hoskinson, the founder of Cardano and co-founder of Ethereum, showed up wearing a McDonald's uniform. He stated, "The current state of the industry is not healthy. Things are getting serious—liquidity is drying up, many people are feeling down, and Twitter is filled with unprecedented pessimism. It's like a freshly cleaned garbage dump that is now on fire."But it's okay. Because the key point is, even though things may look messy at a micro level, at a macro level, it's telling us that we need a new paradigm, a new vision, a new narrative."

February 12, Web3 wallet brand SafePal launched a limited edition Mastercard card face series for Valentine's Day, including two designs, the "CP Edition" and the "Love Yourself" Edition, interpreting the various forms of love. The CP Edition "Couple & Friends Edition" card face supports a unique friend gifting feature, where users who receive the CP card face can gift the corresponding design of the other CP card face to a friend, family member, or special person.This limited edition card face is available for users who have already opened or newly open an IBAN account through SafePal banking services, with the redemption period from February 9, 00:00 (UTC) to February 22, 23:59 (UTC).In addition, users who successfully open an account, deposit $20, and complete any transaction can receive a free SafePal X1 hardware wallet. This device is the latest generation open-source hardware wallet that supports Bluetooth connection, with an official price of $69.99.

February 12th. According to official sources, Castrum Capital announced an investment to incubate Nexera Technologies Ltd's core platform RAN (Rate Arbitrage Nexus). The two parties will collaborate on building an institutional-grade AI quantitative execution infrastructure.Information shows that Nexera Technologies Ltd is registered in Colorado, USA, focusing on the research and development of digital asset derivative quantitative trading technology. RAN mainly targets the funding rate arbitrage scenario, providing systematic execution and risk management support to professional funds.According to the introduction, RAN emphasizes strategy engineering and the construction of an automated execution system, positioning itself as an infrastructure platform that connects quantitative models with market execution. Castrum Capital was established in 2021, headquartered in Istanbul, focusing on investments in AI and quant, DeFi/CeFi, blockchain infrastructure, RWA, and other fields.

February 12, according to an official announcement, the Solana ecosystem perpetual contract trading platform Pacifica recently expanded its trading assets to the traditional financial markets, adding perpetual contracts for Gold (XAU), Copper (COPPER), Google stock (GOOGL), and Euro/US Dollar forex pair (EURUSD), among others. Additionally, the platform concurrently launched LayerZero (ZRO) and Backpack pre-market perpetual contracts (BP). Among them, Gold, Copper, and US stock contracts all support up to 10x leverage.

February 12th, cryptocurrency analyst Axel posted a message stating that two key liquidity indicators are pointing to a weak market. The "Bitcoin: Stablecoin Supply Ratio (SSR) 90-Day Oscillation Indicator" briefly returned to positive territory in January before dropping back into the negative range (currently -0.15), and the USDT market capitalization has dropped by -28.7 billion US dollars in the past 30 days, confirming that liquidity continues to flow out of the ecosystem.Axel pointed out that in mid-January, the "SSR 90-Day Oscillation Indicator" once touched +0.057, and the USDT market capitalization saw an increase of +14 billion US dollars in 30 days, coinciding with Bitcoin briefly surpassing $95,000. However, "both of these signals failed to hold firm"—by February, the "SSR 90-Day Oscillation Indicator" turned negative again, and Bitcoin had retreated to $67,000."January was an exploratory attempt at recovery, while February marks the failure of that attempt." Axel stated that the six-month dominance of the "pink area" signifies Bitcoin's continued weakness relative to stablecoins, and the market has returned to a risk-averse pattern. He emphasized that a true mid-term reversal signal would be the "SSR 90-Day Oscillation Indicator" rising back above the zero axis and stabilizing in the green zone for at least 2-3 weeks. Until then, every rebound should be seen as a high-volatility trap.

February 12, SEC Chairman Paul S. Atkins emphasized advancing digital asset regulation in Congress on Wednesday: SEC will collaborate with CFTC to advance Project Crypto, establish a token taxonomy framework, provide clearer guidance, and consider exemptions for certain on-chain transactions/activities, while supporting the CLARITY Act to construct a federal framework.BiyaPay analysts believe this means the industry is transitioning from "speculation-based" to "rule-based," with more stable compliance expectations and potential cost reductions for market participants. BiyaPay, as a multi-asset trading wallet, offers cross-border remittances and multi-currency exchange, US/HK stock trading with easy deposits and withdrawals, and supports spot and contract trading for digital assets (Maker zero fee), helping users efficiently allocate global assets.

February 10th, according to HyperInsight monitoring, cryptocurrency trader CBB (X:Cbb0fe) at address (0xEFd3...) opened a new XYZ100 long position, initiating a long position of 81.89 XYZ100 coins, worth approximately 2.0654 million US dollars, with an opening price of 25,209.56 US dollars.The liquidation price of this position is currently 22,049.20 US dollars, with the current price of XYZ100 at 25,220.99 US dollars, putting this long position in a slightly profitable state.Cryptocurrency trader CBB (X:Cbb0fe) is a veteran trader and on-chain player, with about 100,000 followers on X social platform. He gained widespread attention due to the 25-year public hunt-down of a billion-dollar BTC short whale event. Currently, he is actively trading on-chain stocks and commodities on Hyperliquid, mainly in short positions.

February 10th, Federal Reserve Governor Milan stated that the Fed's balance sheet needs to shrink, but this should not deter policymakers from choosing to engage in large-scale asset purchases during an economic crisis. "Even as the balance sheet shrinks, the central bank still needs to retain the ability to use quantitative easing during a crisis." He pointed out that the dollar needs to experience a "truly significant fluctuation" to have a significant impact on inflation.Discussing the independence of the Federal Reserve, Milan stated that central bank independence will lead to better policies, but it is a means to an end, not an end in itself. "During a crisis, there will be extensive cooperation between the Federal Reserve and the Treasury Department. There is no absolute, 100% pure independence; nevertheless, making decisions based on economic needs is crucial—we tighten when the economy needs tightening, we loosen when it needs loosening, and not for other reasons."

February 10, according to an official announcement, Binance will conduct wallet maintenance on Tron (TRC20) on February 11 at 15:00 (UTC+8).To support this maintenance, Binance will suspend Tron (TRC20) deposits and withdrawals starting from 14:55 on February 11, 2026 (UTC+8). The maintenance is expected to take 1 hour, and after completion, deposits and withdrawals will resume automatically.

February 10th, Polymarket CLO Neal Kumar posted on X platform, stating that a lawsuit has been filed in federal court against the state of Massachusetts. The U.S. Congress has granted CFTC exclusive jurisdiction over event contracts rather than individual states. Since these belong to a national market, key issues must be resolved in federal court. Attempts by states such as Massachusetts and Nevada to shut down Polymarket US and other prediction markets through state courts cannot change federal law and would miss the opportunity to develop future markets. While addressing these important issues in federal court, Neal Kumar expressed continued willingness to engage with other states and advocate for user rights.

February 10th, Cathie Wood, also known as "Wood Sister," stated in her latest podcast that Bitcoin is not the traditional "digital gold" in a literal sense, and therefore, its short-term behavior does not align with that of gold. From 2019 to the present, the correlation coefficient of Bitcoin's and gold's returns is only 0.14. This is precisely the value of Bitcoin as a diversifying asset: low-correlation assets can enhance the risk-adjusted returns of the overall portfolio. She pointed out that the key to successful diversification is to add new assets with low correlation, and Bitcoin fits this criterion.Furthermore, Cathie Wood defines Bitcoin as an asset that embodies "three revolutions in one":Global digital, sovereign monetary system;Adding a new layer to the internet stack to support native currency and intelligent agent/commerce;A new asset class (with Bitcoin as the most secure, largest network representing encrypted assets).She describes Bitcoin as being in the early stages of the innovation S-curve. Like all historically disruptive technologies, it experiences volatility, frequent pullbacks, but this is a normal part of the growth path rather than a signal of its demise.

February 10th: AI company Sahara AI has reached a deep cooperation with Danal Fintech, one of South Korea's largest payment technology companies, to jointly develop the next-generation AI payment system based on stablecoins. The two parties will combine Danal's extensive payment and settlement experience with Sahara AI's full-stack Agent platform to AI-enable core scenarios such as cross-border payments and automatic reconciliation, enhancing the system's reliability and operational efficiency in real financial scenarios.At the same time, Danal's subsidiary PayProtocol plans to integrate Sahara AI's investment assistant Sorin into the Paycoin App, providing real-time market dynamics and asset analysis to millions of users. This cooperation signifies Sahara AI's official entry into large-scale traditional financial and payment scenarios.

February 10th, according to Farside Investors monitoring, yesterday's net inflow of $144.9 million to the US Bitcoin spot ETF, net outflow of $20.9 million to IBIT, net inflow of $130.5 million to Grayscale BTC.Ethereum ETF net inflow of $57 million yesterday, $45 million outflow for ETHA, net inflow of $67.3 million for FETH, net inflow of $44.6 million for Grayscale ETH.

February 10, a member of the Ethereum Foundation, ladislaus.eth, posted that Ethereum is advancing a key but relatively low-profile architectural shift: moving from executing all transactions in a block by nodes to confirming correctness of execution through zkEVM proofs. The related proposal is supported by EIP-8025 (Optimistic Execution Proofs), allowing validators at the consensus layer to choose to validate multiple-client zk proofs instead of running a full execution layer, without requiring an upgrade or fork.This mechanism is expected to significantly reduce node hardware and sync costs, benefiting independent validators and home nodes, and laying the groundwork for future L1 execution scalability, ePBS (planned for the Glamsterdam upgrade), and native Rollups. The Ethereum L1-zkEVM roadmap is targeted for 2026, with the first dedicated conference scheduled for February 11.

February 10th, Upbit will place Dent (DENT) on the trading warning list. Currently, the deposit channel has been closed. Upbit will review the reasons for the trading warning label based on its digital asset trading support termination policy. During the review, the review period of the trading warning label may be extended. If the reason for the warning is not fully resolved, Upbit may decide to terminate trading support.

February 10, according to Onchain Lens monitoring, a new address deposited $1.98 million into HyperLiquid, went 20x long on ETH, with an average entry price of $2068.

February 10. According to Techub News, Victory Securities Hong Kong officially disabled the cryptocurrency trading function for all users with mainland China identities starting from the afternoon of February 9, 2026, retaining only the withdrawal permission, no longer supporting deposits and new trades. The platform's continued tightening of services for mainland users, including previous restrictions on buying and pausing new address verification, aims to comply with the regulatory requirements of the Hong Kong Securities and Futures Commission and mainland China's relevant policies. Currently, non-mainland tax resident users can still use cryptocurrency trading services normally, and affected users can continue to withdraw assets.

February 10th, Chainlink co-founder Sergey Nazarov published a long article on Platform X regarding the current state of the crypto market, expressing that cycles are a normal part of the cryptocurrency industry. The key is that these cycles reveal the industry's level of development and how the trend of the next stage/adoption/value creation will define the industry. Currently, there has been no significant risk management failure leading to the collapse of large institutions or systemic risk propagation. This indicates that the risk management in the crypto industry this time is much better than in the previous cycle.Sergey Nazarov also stated that regardless of price fluctuations, the trend of real-world asset on-chainization is accelerating continuously. This indicates that the on-chainization of real-world assets is not closely related to cryptocurrency prices but has its unique value. This value can grow independently of the market price of Bitcoin or other crypto assets, and this trend will also fundamentally alter the industry landscape.