Preface
In the past 24 hours, Bitcoin and Ethereum have risen by 0.12% and 1.91%, respectively, with current prices of $95,964 and $2,724. The ETH/BTC exchange rate stands at 0.028. The Crypto Fear & Greed Index is at 47, indicating a neutral market sentiment.

Market Trending

The market experienced a rise followed by a decline yesterday. Earlier, Bitcoin briefly broke the $97,000 mark amid a surge in trading volume. Despite the increased activity, Bitcoin failed to gain strong upward momentum, and after failing to break the $97,500 resistance level, Bitcoin dropped to the $96,000 range. Current price behavior suggests the market is in a consolidation phase. Increased volume and open positions indicate that volatility may increase soon, but Bitcoin’s dominant downward trend and liquidation imbalances suggest continued uncertainty. The $97,500 resistance level remains a key obstacle for Bitcoin, and a breakout above it could open the door for further gains.

In the altcoin market, the AI sector tokens continued their volatile behavior. After a strong recovery, AI tokens have seen a significant pullback, with ARC, FARTCOIN, SHELL, and others down by more than 15%. Among Layer-1 blockchain tokens, SOL has shown a sluggish trend due to an upcoming large token unlock, dropping to $180, while ETH has been oscillating between $2,850 and $2,650. Popular meme tokens such as DOGE, PEPE, and SHIB have followed the market downtrend with a slight pullback. Their liquidity and market confidence have decreased significantly compared to previous highs, and some tokens have recorded double-digit losses.

Daily Spotlight

Today’s spotlight is S, with a 24-hour increase of 16.17%.
Sonic (S), founded in 2018, is a Layer-1 platform with an Ethereum-secured gateway, providing the fastest settlement layer for digital assets, with a TPS of over 10,000 and a transaction confirmation time of one second. What sets it apart is its use of the Lachesis consensus mechanism, an asynchronous Byzantine Fault Tolerant (aBFT) algorithm with no leader. Lachesis organizes transactions into a local DAG, allowing each node to independently process and confirm transactions, significantly improving network throughput and efficiency.
The S token is the native token of Sonic, playing multiple roles in the network, including paying transaction fees, staking, running validators, and participating in governance. Sonic recently announced its $1 million hackathon, aimed at promoting the development of local decentralized applications in preparation for the mainnet launch on February 27, 2025. The price of S has benefited from this news, currently priced at $0.6201, a 24-hour increase of 16.17%.

Check Out the Latest Prices, Charts, and Data of S/USDT Spot and S/USDT Perp!

The Word on the Street

On February 18, Solana announced that the first Solana Global Creators’ Contest, hosted by Little Unusual, is approaching. The event will take place from February 25 to March 5, aiming to allow creators to showcase their skills and win prizes, top mentorship, and workshop participation. Registration is now open.
The five creator tracks include: 2D Animation, Content Creation, 3D Animation, AI-Generated Video, and Design.

Project Airdrop

OpenSea will airdrop its $SEA token:

• Historical usage of OpenSea (not just recent activity) will be an important factor;
• The claim process will be simple and easy, and U.S. users are welcome;
• The focus is on long-term sustainability and supporting a healthy, lasting community;
• No specific timeline has been announced yet.