Web3 Research Weekly Report | The market this week continues the current period of volatility; The new Token minting volume in the crypto market in January reached 600,000; Funds inflow into BTC and ETH DeFi decreased by over 30% in the past month

Weekly Overview

This week, the overall cryptocurrency market continued the recent period of volatility, similar to the changes in the market last week, with no clear signal of an upward trend. Most of the week was characterized by small fluctuations. The market this week is mainly dominated by small fluctuations in intraday trading, with mainstream currencies showing little significant volatility. As the week approaches the closing period, the prices of most mainstream currencies are basically within the same range as the opening prices, indicating a lack of potential for large-scale changes in the short term.

Most mainstream cryptocurrencies have lacked significant fluctuations this week, with a slight decline at the opening of the week. However, the market trend remains very unclear in the short term, and is expected to continue with short-term fluctuations throughout the day.

Throughout this week, the price of BTC mostly fluctuated between $94,000 and $99,000, with a significant downward trend during the midweek when the price briefly dropped below $94,000. The lowest point for BTC this week approached $93,487, but for the most part of the week, it remained above $95,000, fluctuating continuously, with a peak surpassing $98,000.

The price trend of ETH is more volatile compared to BTC, with the high point of the price around $2819 and the low point around $2617. Most mainstream cryptocurrencies have shown a small range of fluctuations in prices this week. Currently, the market sentiment remains around 40. The overall market capitalization of the crypto market has slightly increased compared to the same period last week, reaching around $3.21 trillion, with a 1.11% increase in the past 24 hours.

Compared to last week, the overall cryptocurrency market maintained a recent cyclical trend this week, with a more obvious fluctuation. The current price of BTC has reached around $98,300. The current price of ETH is maintained around $2,740.

This week, the overall cryptocurrency market lacks obvious signals of rise and fall, and there is no further trend of large-scale changes. A considerable number of mainstream currencies are currently trading at the same range as the opening price. The largest gainer this week is IP, with a weekly increase of around 110%.

The overall market situation of the cryptocurrency market this weekend is expected to continue to maintain the current range, and short-term fluctuations are still the main trend.

Cryptocurrency Market

🔥According to Cointelegraph, CoinGlass data shows that as of 10:35 am UTC on February 16th, more than 70% of the open ETH options contracts are bullish contracts. Nansen research analyst Nicolai Sondergaard said that bullish positions indicate that investors are cautiously optimistic about the mid-term appreciation of ETH.

🔥Cryptanalyst Immortal tweeted: "BTC on-chain transaction volume has not yet reached the level of 2021... But do we expect a big bull market? Even transaction fees do not necessarily herald a bull market - just look at the past cycles."

🔥According to Cointelegraph, a study by the Perryman Group released by the Texas Blockchain Council and the Digital Chamber of Commerce shows that the Bitcoin mining industry, despite being an emerging field, has created over 31,000 jobs in the United States directly through mining operations and indirectly by supporting industries.

🔥According to Crypto.news, Bobby Ong, co-founder of CoinGecko, said that the crypto market saw a surge in new token creation in January, minting 600,000 new tokens, a 12-fold increase from the 50,000 tokens minted monthly from 2022 to 2023.

🔥Greeks.live macro researcher Adam released an English community brief stating that Bitcoin traders are closely watching the $94,000-$98,000 range, with the main resistance at $98,000. At the same time, many have noticed the recent abnormally low volatility, with the price trend lacking certainty.

🔥Bridgewater Associates founder Ray Dalio once again talked about Bitcoin in his latest 'All-In' podcast interview, also mentioned the DeepSeek craze, he sees currency devaluation through market trends, especially relative to gold, Bitcoin, or other tangible assets.

🔥Greeks.live macro researcher Adam posted on X platform that the macro aspect worth noting this week is the news about the US-Europe conflict over the Russia-Ukraine war. The Russia-Ukraine war has always been an important reason for the rise in commodity prices. If the situation changes, it may cause a change in the overall inflation logic at the moment.

🔥According to the crypto analyst Ali, the inflow of funds into Bitcoin and Ethereum has significantly decreased in the past month, dropping from $45 billion to $30 billion, a decrease of more than 30%.

🔥According to Cryptoslate, as of December 31, 2024, institutional investors held 25.4% of the assets under management (AUM) of spot Bitcoin ETFs, totaling $268 billion.

According to Cryptoslate, version 1.15.2 of the key client Geth of the Ethereum protocol has been released to fix an error that affected the creation of mainnet blocks in the previous version. According to Go Ethereum, this emergency update resolves a regression issue in the beacon consensus engine, which caused validators to miss block creation opportunities and potentially lead to economic losses.

🔥According to Cointelegraph, with the inauguration of US President Donald Trump, more and more white-collar criminals, including former FTX CEO SBF, are exploring ways to obtain forgiveness.

🔥Strategy (formerly known as MicroStrategy) founder Michael Saylor tweeted a summary of the '21 rules of Bitcoin'.

🔥According to Cryptoslate, the European Securities and Markets Authority (ESMA) has launched a public consultation on guidelines assessing the knowledge and skills of professionals providing crypto asset services under the Markets in Crypto-Assets Regulation (MiCA).

🔥According to Cointelegraph, billionaire Paul Tudor Jones' investment firm disclosed that its holdings of $4.269 billion worth of Belden IBIT were twice the size reported in the last SEC filing.

🔥According to Crypto Briefing, Google Cloud Asia Pacific Web3 expert Kyle Song revealed in his speech at the Hong Kong Bitcoin Technology Carnival that Google is committed to making Bitcoin wallets as user-friendly as Web2 applications. Google's vision is to allow users to log into Bitcoin wallets using their existing Google accounts, with the aim of making Bitcoin more accessible to mainstream users.

🔥According to CoinDesk, a report released by JPMorgan shows that U.S.-listed bitcoin miners accounted for 29% of the global bitcoin network's computing power in February 2025, nearly twice the level of the same period last year.

🔥 According to the on-chain analyst Yu Jin's monitoring, although the ETH/BTC exchange rate has fallen to 0.028, there are still whales bearish on the ETH/BTC exchange rate: a whale has withdrawn a total of 1,444 cbBTC( worth approximately $138 million) from Coinbase in the past two weeks, then deposited it into Aave as collateral to borrow 29,025 ETH( worth approximately $76.6 million) before transferring it back to Coinbase.

🔥According to The Daily Hodl, as financial services giant Charles Schwab expands its footprint into the realm of cryptocurrency investments, the company is establishing a new executive position. This new position is that of Chief Digital Assets Officer, who will be responsible for Charles Schwab's overall cryptocurrency asset strategy.

🔥According to TheBlock, Vetle Lunde, research director of K33Research, analyzed in a report that Bitcoin is still in a low volatility range. Due to risk-averse traders pushing down yields, volatility, and trading volume to multi-month lows, Bitcoin fell slightly by 2% this week.

🔥According to Bloomberg, one of the original founders of Tether, Reeve Collins, is launching his own stablecoin.

🔥According to The Block, Strategy Company (formerly known as MicroStrategy) announced on Tuesday that it plans to issue $2 billion zero-coupon convertible senior notes, just a few hours after issuing a profit warning.

🔥According to Bloomberg, the cryptocurrency security platform Blockaid has recently completed a $50 million Series B financing, led by Ribbit Capital, with participation from GV (formerly Google Ventures) and existing investors Variant and Cyberstarts.

🔥Trump said at a meeting of the Future Investment Initiative in Miami on Wednesday: "Bitcoin has hit multiple historical highs because everyone knows I am committed to making America the capital of cryptocurrencies."

🔥CryptoQuant CEO Ki Young Ju believes that Bitcoin will not enter a bear market this year and is still in a bull market cycle.

Regulation & Macroeconomic Policies

🔥According to The Block, Argentine lawyers have filed a lawsuit against the country's president, Javier Milei, accusing him of fraud for his involvement in the LIBRA token project. The scandal escalated after it broke out over the weekend, with the token's value plummeting 95% following Milei's initial promotion.

At the same time, Javier Milei may face impeachment in Congress, accused of promoting a cryptocurrency rug pull, causing the token market value to plummet from $4 billion to $4.18 billion in a few hours.

🔥According to the Hong Kong Wen Wei Po, a fund issuer previously expected to launch the first tokenized retail currency fund in the Asia-Pacific region at the end of this month in Hong Kong. Leung Fung-yee, Chief Executive of the Hong Kong Securities and Futures Commission, stated that she has discussed with the Hong Kong Monetary Authority on the Ensemble project and believes that tokenizing the currency market fund in the real world assets has the most potential, as it can efficiently facilitate subscription and redemption. Currently, many other tokenization applications are under review, including retail products and currency market funds.

🔥According to Cointelegraph, the Texas government website announced that the first public hearing on establishing a potential strategic Bitcoin reserve in Texas is scheduled for February 18, less than a week after the Senate Secretary received the bill.

🔥According to the website of Radio Television Hong Kong, Ye Zhiheng, Executive Director of the Intermediaries Division of the Securities and Futures Commission of Hong Kong, is expected to announce the roadmap for the development of virtual assets within this month. In addition to explaining the development principles, the roadmap will also mention the scope of the Securities and Futures Commission's expectations for market research in the short term, as well as areas where platform participants hope to optimize.

🔥According to Cointelegraph, the U.S. securities exchange MEMX has applied to the Securities and Exchange Commission (SEC) for approval to list the 21Shares XRP ETF as a "commodity trust," and the relevant documents have been submitted to the regulatory agency. This move marks another effort by U.S. exchanges to list ETFs containing spot XRP. The application also highlights a shift in the SEC's stance on cryptocurrencies.

🔥According to The Block, the U.S. Securities and Exchange Commission (SEC) is soliciting public comments to determine whether to approve options trading on three Ethereum ETFs. According to a regulatory filing released on Tuesday, the SEC is seeking feedback on whether to allow options on Grayscale Ethereum Trust ETF, Grayscale Ethereum Mini Trust ETF, and Bitwise Ethereum ETF to be listed and traded on the Chicago Board Options Exchange (Cboe Exchange, Inc.).

🔥According to the official website of the US Department of Justice, the US prosecutors have filed a civil forfeiture lawsuit for a cryptocurrency investment fraud case, recovering 7.24 BTC, 14,120 USDT, 105.75 ETH, and other cryptocurrency assets.

🔥The European Union's Markets in Crypto-Assets Regulation (MiCA) has released a list of compliant stablecoin issuers, including Circle, Crypto.com, Société Générale, and 10 other institutions authorized to issue Euro and Dollar stablecoins, involving a total of 10 Euro stablecoins and 5 Dollar stablecoins.

🔥According to Decrypt, the U.S. Securities and Exchange Commission (SEC) voluntarily withdrew an appeal of a ruling that had prevented the agency from expanding existing securities laws to cover DeFi users and projects.

🔥According to the Satoshi Action Fund, the "Strategic Bitcoin Reserve" bill in Montana, USA, has been approved in committee review and has entered the House voting stage.

🔥The U.S. Securities and Exchange Commission (SEC) has officially confirmed that it has accepted CoinShares' application for a spot Litecoin ETF (LITE).

🔥 According to CoinDesk, Ales Michl, the Governor of the Czech National Bank, stated that Bitcoin has significant differences from other cryptocurrencies and should not be confused with cryptocurrencies.

🔥According to Edaily, the Financial Supervisory Service (FSS) of South Korea announced this year's inspection plan, which includes strengthening supervision of Virtual Asset Service Providers (VASPs). FSS intends to rigorously review whether these platforms comply with laws and regulations as well as voluntary compliance rules.

🔥According to CoinDesk, Franklin Templeton announced the launch of the first fully tokenized US Treasury bond fund in Luxembourg, providing European institutional investors with the opportunity to participate.

🔥According to the latest regulatory roadmap "A-S-P-I-Re" released by the Securities and Futures Commission (SFC) of Hong Kong, Hong Kong will further improve the regulation of the virtual asset market to balance innovation and risk management.

Encryption Market Highlights

⭐️In the past week, the overall trend of the cryptocurrency market has continued the recent market conditions, and short-term small fluctuations are still the mainstream changes. At present, the overall market value has changed slightly, and as the current weekend closing period approaches, the possibility of large-scale fluctuations in the overall market in the short term is relatively low, and it is still more likely to maintain small fluctuations within a small range in the future.

⭐️This week, the IP of the cryptocurrency market has the highest increase among mainstream currencies, and it has seen a significant continuous upward trend this week as a newly listed currency. The currency has risen by about 110% in a week, and the current price is maintained around $3.7, showing a relatively obvious continuous upward trend.

Bitcoin & Ethereum Weekly Performance

( Bitcoin )BTC( ![])https://img.gateio.im/social/moments-8e5428e39524b309cd3cc103c64c3493### ( Data Source: TradingView)

During this week, the price of BTC presented a short-term continuous decline after the opening, quickly falling to the weekly low point in the middle of the week, and subsequently rebounding rapidly above $95,000. Currently, the price of BTC is rapidly rising, approaching the $98,500 mark. For most of this week, the price of BTC has remained within the range of $95,000 to $98,000, similar to the price trend of last week, but it has now broken through the $98,000 mark. Overall, the probability of BTC breaking through the $100,000 mark in the short term is very low, and the probability of maintaining the current price range is relatively high.

( Ethereum )ETH( ![])https://img.gateio.im/social/moments-5b3bb520f5ad3ad92fbc47a7742b174d### ( Data Source: TradingView)

The price of ETH has shown more intense fluctuations this week compared to BTC, with a relatively large weekly volatility. After opening, the price of ETH experienced a round of uptrend, but it was short-lived. Subsequently, the trend was dominated by continuous declines. A rapid uptrend appeared in the middle of the week, followed by a short-term plunge. Currently, the price is relatively stable, fluctuating within a small range. The weekly high point of ETH is approaching around $2820, and it is expected to have a round of rapid fluctuations during the weekend, mainly with small price fluctuations.

Web3 Project Trends

This week, the total market value of seven types of projects has risen and fallen, but most of them are still in the same rise and fall cycle as the same period last week. The overall market this week is mainly affected by the recent continuous market trend, and small short-term fluctuations are still the mainstream trend.

| Project Category | Weekly Change | Top Three Tokens by Weekly Change | Overview | | ------------ | ------------ | ------------ | ------------ | | Layer 1 | 0.3% | EQPAY,MON,IP | The total market value of Layer 1 track remained small this week, with the top currencies showing a relatively even increase, and no significant gainers. | Layer 2 | 4.9% |DELAY,KONET,WCO|The Layer 2 track has seen some upward movement this week, but the magnitude of the rise in the leading currencies has remained relatively small, with a fairly even distribution overall. | DeFi | -0.9% | SHAO,MNT,RAMEN | The DeFi track saw a small overall market value change this week, but it is generally in a continuous downward trend, with significant increases in the top rising currencies. | NFT | 0.8% | PAPER,DYP,WOMBAT |The total value of the NFT market has seen a slight increase this week, but the basic concentration of the top rising currencies is on individual currencies, and there is a lack of clear upward support in the overall track. | MEME | -5.4% | PRINTR, CATEX, BEPE | The MEME coin track experienced a certain degree of decline this week, with the top rising coins maintaining a growth rate of over 500%, but overall showing a clear downtrend. | Liquid Staking | -1.0% | ANKRMATIC,ANKRFTM,STS | This track saw a slight downtrend this week, with a relatively even distribution of growth among the top coins, and the slight decline was mainly driven by the trend of mainstream coins. | AI | 1.5% | WAIFU,CBM,YOKO | The AI ​​track continues to rise this week, with a significant increase in the leading currencies, but overall the track is still in a recovery phase, and the probability of a sharp rise in the short term is small. |

Author: Charles T., Gate.io Researcher The text only represents the author's point of view and does not constitute any trading advice. Investment carries risks, so decisions need to be made carefully. *This content is original, copyright belongs to Gate.io, if you need to reprint, please indicate the author and source, otherwise legal responsibility will be pursued.