TL;DR

• The price of Bitcoin dropped by 1.29% to $96,031.5, while Ethereum’s price fell by 0.78% to $2,677.21.
• Soneium Network’s Total Value Locked (TVL) surpassed $50 million.
• Pump.fun’s protocol fee revenue dropped over 85% from its historical peak.
• Bitcoin network activity has fallen to a 12-month low.
• Jane Street acquired a 6% stake in Bitcoin miner Iris Energy.
• The President of Argentina has been charged with fraud due to the LIBRA token crash.
• 12 U.S. states invest in Strategy (formerly MicroStrategy).

Market Analysis

• BTC — The price of BTC has decreased by 1.29% in the past 24 hours, currently priced at $96,031.5. The price trend of BTC shows a downward movement, gradually retreating after breaking through the $98,500 level, and is now approaching the $96,000 support level. Currently, BTC’s price is consolidating near this support level, with market sentiment being cautious. In the short term, it may continue to be constrained by the downward trend[1].

• ETH — The price of ETH has dropped by 0.78% in the past 24 hours, currently priced at $2,653.59. Recently, ETH’s price has shown a downward trend, with the current price fluctuating near the upper boundary of the descending channel. The MACD indicator’s red bar area is gradually shrinking, indicating that the downward momentum is weakening. If it successfully breaks through the downward trendline, the price is likely to continue rising[2].

• ETF — According to SoSoValue data, on February 14, the total net inflow for the U.S. Bitcoin spot ETF was $70.62 million[3], while the total net inflow for the U.S. Ethereum spot ETF was $11.65 million. The data is as of 14:00 (UTC+8) on February 14[4].
• Altcoins — The AI Framework, AI Agent Launchpad, and Storage sectors saw changes of +5.5%, +4.1%, and +3.1%, respectively[5].
• U.S. Stock Market Indices — On February 14, the S&P 500 index decreased by 0.01%, the Dow Jones index dropped by 0.37%, and the Nasdaq index rose by 0.41%[6].
• Spot Gold — The price of spot gold reached $2,889.03 per ounce, with a daily increase of 0.20%. The data is as of 14:00 (UTC+8) on February 14[7].
• Fear and Greed Index — The Fear and Greed Index stands at 51, indicating that the market is in a neutral state[8].

Top Performers

According to Gate.io market data [9], based on trading volume and price performance over the past 24 hours, the top-performing altcoins are as follows:

SHELL (MyShell) — The price increased by approximately 30.97% in a single day, with a circulating market capitalization of $139 million.
MyShell is a decentralized AI consumer layer platform aimed at connecting consumers, AI agent creators, and open-source researchers. It enables users to create, share, and monetize their AI agents, and is continuously evolving into a shared ecosystem[10].

Recently, MyShell introduced three major updates, including no-code visual AI agent creation, IM platform automation deployment, and on-chain intelligence. The no-code development lowers the barrier, allowing more developers to quickly create and optimize AI agents. The IM integration allows AI agents to be deployed directly to platforms like X without additional development, enhancing user interaction experience and application convenience. The on-chain intelligence feature simplifies asset management and enhances the scalability of decentralized applications. Driven by market expectations and ecosystem development, the demand for SHELL tokens has risen, leading to an increase in price.

COQ (Coq Inu) — The price rose by approximately 31.47% in a single day, with a circulating market capitalization of $75.59 million.
Coq Inu is a meme coin in the Avalanche ecosystem, themed around hens, similar to other animal-based cryptocurrencies like Shiba Inu and Dogecoin. What sets it apart is its combination of humor and meme culture, alongside its integration with the Avalanche ecosystem, which features low-cost, fast transactions. This gives it strong social and entertainment attributes within the crypto community[11].

Recently, the official team burned 694,200,000 COQ tokens, significantly reducing the circulating supply in the market, thus increasing the scarcity of the token. This deflationary mechanism typically boosts market bullish sentiment in the short term, prompting investors to flock in and increasing demand for the token, ultimately driving the price up.

TARA (Taraxa) — The price rose by approximately 19.59% in a single day, with a circulating market capitalization of $46.76 million.
Taraxa is a fast, scalable public ledger designed for IoT (Internet of Things) devices, aimed at improving the credibility, anonymity, and value of the IoT ecosystem. Taraxa uses a blockchain DAG topology and, with minimal coordination costs, combines fuzzy sharding technology and PBFT consensus to ensure fast and asynchronous finalization of the ledger[12].

Recently, the Taraxa ecosystem launched a new staking feature, allowing users to stake TARA tokens on the Lara protocol with an annualized return of over 13%. Additionally, TARA tokens have been listed on multiple centralized exchanges, improving token liquidity and accessibility. With the addition of innovative features and more exchange listings, investor attention has surged, further driving up the price of TARA.

Data Highlights

Soneium Network’s Total Value Locked (TVL) Surpasses $50 Million

On February 14 at 18:00 (UTC), the Total Value Locked (TVL) of the Soneium Network, an L2 project, reached approximately $50.47 million, setting a new all-time high. The chart shows that the TVL of the Soneium Network grew rapidly over the past seven days, followed by a slight pullback after hitting the new peak. This growth indicates that the Soneium Network ecosystem is rapidly expanding, attracting more capital, and further solidifying its market position in the Layer 2 (L2) space[13].

Pump.fun’s Protocol Fee Revenue Drops Over 85% from Historical Peak

On February 17, Pump.fun recorded protocol fee revenue of $2.19 million, a significant decline of 85.76% compared to its historical peak of $15.38 million on January 25. This sharp drop suggests a substantial reduction in capital inflows. For the first time, after deploying MEME coins, Pump.fun experienced a situation where the market was not fully subscribed within 30 minutes, which could be related to a decline in market enthusiasm. In the past, MEME coins typically attracted a large amount of liquidity within a short time, but now the subscription enthusiasm for new projects has clearly decreased. This may reflect a decline in investor risk appetite or a market that is gradually returning to a more rational state. This trend is noteworthy—whether Pump.fun can still maintain its dominance in the MEME market or if the market is entering a cooling period will be a key observation moving forward[14].

Bitcoin Network Activity Drops to 12-Month Low

Bitcoin network transaction activity has fallen to its lowest point in 12 months, with the 7-day moving average dropping to 350,000 transactions, about 52% lower than its previous peak of 730,000. This decline is especially noticeable in Bitcoin-based protocols like Runes and Ordinals, which once drove a significant amount of speculative activity and network transactions. These protocols now account for only around 1% of total transactions, indicating a shift in the usage patterns of the Bitcoin network. Speculative trading has increasingly moved to other blockchain ecosystems like Solana and Base. As protocol activity decreases, the Bitcoin network seems to be returning to its primary use case as a value transfer platform[15].

Spotlight Analysis

Jane Street Acquires 6% Stake in Bitcoin Miner Iris Energy

According to recent filings with the U.S. Securities and Exchange Commission (SEC), Wall Street trading firm Jane Street and its subsidiaries have acquired a 6% stake in Bitcoin miner Iris Energy. The filing reveals that as of December 31, the Jane Street Group held a total of 11,797,987 shares of Iris Energy, representing 6% of the company’s equity. Iris Energy is the fifth-largest publicly listed Bitcoin miner globally, having mined 521 Bitcoins in January, with a hash rate of 28.93 EH/s, accounting for 3.71% of the Bitcoin mining market share[16].
As a leading global high-frequency trading firm, Jane Street primarily engages in market-making and trading across various asset classes, including stocks, options, and cryptocurrencies. This acquisition highlights the continued institutional interest in Bitcoin mining.

Argentine President Charged with Fraud Due to LIBRA Token Crash

Argentine President Javier Milei faces fraud charges related to the collapse of the LIBRA token project. The token plummeted by 95% following Milei’s public support. The former head of Argentina’s central bank and several lawyers have filed lawsuits against Milei, claiming his actions were a key factor in the token’s crash. Initially, Milei’s support sparked investor interest, but after he withdrew his backing, investor confidence dropped significantly. Milei denies prior knowledge of the project and maintains his innocence. However, on-chain data shows that the token’s value had already dropped significantly before Milei withdrew his support, and insiders had already cashed out $107 million from liquidity pools and trading fees. Milei’s government has announced an investigation, and some opposition parties are calling for his impeachment[17].
This case underscores the risks associated with public figures’ involvement in cryptocurrency projects. Whether Milei’s actions constitute fraud remains to be determined in further legal proceedings, but it could provide a reference for legal accountability in future crypto market cases.

12 U.S. States Invest $330 Million in Strategy (formerly MicroStrategy), Showing Growing Trust in Digital Assets

By the end of 2024, 12 U.S. states will collectively hold shares in Strategy (formerly MicroStrategy) worth around $330 million through state pension funds and treasuries. Strategy, led by Michael Saylor, is known for its large-scale Bitcoin investment strategy. The retirement funds and treasuries of California, Florida, Wisconsin, and North Carolina hold the largest stakes, while New Jersey, Texas, Arizona, Colorado, Louisiana, Maryland, Utah, and Illinois are also actively allocating. Notably, the California State Teachers’ Retirement System holds the largest position, with 285,785 shares valued at approximately $83 million, based on regulatory filings submitted on February 14. Strategy is currently the largest corporate Bitcoin holder in the world, with 478,740 Bitcoins, valued at about $46 billion. As a result, owning shares in Strategy has become an important indirect way for investors to gain exposure to Bitcoin, reflecting the strategic positioning and confidence in digital assets by U.S. states[18].

Funding News

According to RootData, from February 14 until now, 7 projects have publicly announced funding, with a total amount exceeding $60 million. The largest single funding round reached $30 million, spanning areas such as infrastructure, DeFi, gaming, and more. The specific funding details are as follows[19]:

HashKey Group — HashKey Group raised $30 million, with participation from Gaorong Capital. HashKey Group is an Asia-based digital asset financial services group that provides investment opportunities and solutions for institutions, family offices, funds, and professional investors. The group’s business covers the entire digital asset ecosystem, including venture capital investments, custody, technology, and trading. Its core services focus on global asset management for blockchain technology and digital assets, blockchain node validation, tokenization services, and Web3 PFP incubation and community operations[20].

GamerBoom — GamerBoom secured $9 million in funding, with investments from Bing Ventures, Jsquare, and others. GamerBoom is an application that bridges Web2 gaming with the Web3 ecosystem, enabling seamless player transition to Web3. GamerBoom integrates Web3 incentive mechanisms into the immersive experience of Web2 games while maintaining the smoothness of Web2 gameplay[21].

Mango Network — Mango Network raised $13.5 million, with participation from Kucoin Ventures, CatcherVC, and others. Mango Network is a Layer 1-based multi-VM full-chain infrastructure network solution designed to address user experience fragmentation and liquidity issues in Web3 applications and DeFi protocols. The network integrates OPStack technology and the core advantages of MoveVM, building an efficient blockchain network that supports cross-chain communication and multi-VM interoperability[22].

Airdrop Opportunities

Hub.xyz

Hub.xyz is an AI agent-driven platform where userstrain AI agents by answering questions on the X platform, contributing to the AI’s intelligence through high-quality responses[23].

The Hub.xyz platform features a points system that rewards users with IQ points for their participation. By accumulating points, users can receive airdrops of HUB tokens and exclusive partner airdrops. Additionally, points grant users access to the platform’s core user layer, “Cult’s Inner Circle,” where they can enjoy more privileges and resources.

How to Participate:

1. Visit the Hub.xyz Airdrop portal and log in.
2. Join the official Discord group to earn IQ points.
3. Interact with Hub’s AI agents and provide intelligent answers to earn IQ points.
4. Refer friends to use Hub to earn additional points.

Note:
The airdrop program and participation methods may be updated at any time, so it’s recommended that users follow Hub.xyz’s official channels for the latest information. Additionally, users should participate cautiously, be aware of risks, and conduct thorough research before joining. Gate.io does not guarantee future airdrop rewards.


Reference:

1. Gate.io,https://www.gate.io/trade/BTC_USDT
2. Gate.io,https://www.gate.io/trade/ETH_USDT
3. SoSoValue,https://sosovalue.xyz/assets/etf/us-btc-spot
4. SoSoValue,https://sosovalue.xyz/assets/etf/us-eth-spot
5. CoinGecko,https://www.coingecko.com/en/categories
6. Investing,https://investing.com/indices/usa-indices
7. Investing,https://investing.com/currencies/xau-usd
8. Gate.io,https://www.gate.io/bigdata
9. Gate.io,https://www.gate.io/price
10. X,https://x.com/myshell_ai/status/1891100435257434359
11. X,https://x.com/coqbook/status/1890925430556750063
12. X,https://x.com/LaraProtocol/status/1889702274449998032
13. I2beat,https://l2beat.com/scaling/projects/soneium
14. Defillama,https://defillama.com/fees/pump
15. TheBlock,https://www.theblock.co/data/on-chain-metrics/bitcoin/transactions-on-the-bitcoin-network-daily
16. Theminermag,https://theminermag.com/news/2025-02-14/jane-street-bitcoin-iris-energy/
17. TheBlock,https://www.theblock.co/post/341226/argentinian-president-javier-milei-charged-with-fraud-over-libra-token-scandal-ap?utm_source=twitter&utm_medium=social
18. X,https://x.com/Julian__Fahrer/status/1891260136649273376
19. Rootdata,https://www.rootdata.com/Fundraising
20. X,https://x.com/HashKeyGroup
21. X,https://x.com/Gamerboom_/status/1890341496731353358
22. X,https://x.com/MangoOS_Network/status/1890346583503606038
23. X,https://x.com/hubdotxyz/status/1889706002867527965

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