Abstract

• BTC rose by 1.12% over the past 24 hours, while ETH increased by 0.40% in the same period.
• The lending protocol PACT has officially bridged to Aptos, which will drive growth in Aptos’ TVL (Total Value Locked).
• The SEC has approved Figure to issue its first interest-bearing stablecoin YLDS, offering a 0.5% annual interest rate.
• Following the announcement of the launch of SEA tokens, OpenSea’s market share for NFTs surged to 71.5%.
• Shadow hit a new single-day trading volume record of $252 million, surpassing Hyperliquid and Berachain.
• The Canary LTC ETF has been listed with the DTCC, advancing toward the market readiness phase.

Market Analysis

• BTC — The price of BTC rose by 1.12% over the past 24 hours, currently priced at $98,292.4. The highest price in the last 24 hours was $98,715, while the lowest was $96,421. The current resistance and support levels are $98,815 and $93,388. Trading volume has shown significant fluctuations. Although there has been a notable increase in buying volume recently, there hasn’t been a clear breakthrough of significant resistance levels, which could indicate that the current rebound is somewhat limited, with insufficient upward momentum[1].

• ETH — The price of ETH rose by 0.40% over the past 24 hours, currently priced at $2,738. The highest price in the last 24 hours was $2,770, and the lowest was $2,707. ETH’s price trend is generally showing a consolidation pattern, ranging between $2,849 and $2,605. If ETH manages to break above $2,849 and stabilize, it could return to an upward trend[2].

• ETF — According to SoSoValue data, on February 20, the total net outflow from US Bitcoin spot ETFs was $364 million[3], while the total net outflow from US Ethereum spot ETFs was $13.09 million. The data is accurate as of 1:00 PM UTC+8 on February 21[4].
• Altcoins — Sectors such as Analytics, Modular Blockchain, and AI Framework saw increases of 13.6%, 12.3%, and 11.6%, respectively[5].
• US Stock Market Indices — The S&P 500 Index dropped by 0.43%, the Nasdaq Index fell by 0.47%, and the Dow Jones Index decreased by 1.01%[6].
• Spot Gold — The spot price of gold stood at $2,926 per ounce, down 0.46% on the day. The data is accurate as of 1:00 PM UTC+8 on February 21[7].
• Fear and Greed Index — The Fear and Greed Index increased from 49 yesterday to 55, indicating that the market is in a state of greed, with growing confidence in the cryptocurrency market[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:

PI — The price surged by approximately 1,244% in a single day, with a circulating market cap of $4.548 billion.
Pi Network (PI) is a blockchain project that enables users to mine cryptocurrency through their smartphones. It was created in 2019 by a team from Stanford University. The project’s goal is to lower the barriers to entry for blockchain technology, enabling more regular users to easily participate in the cryptocurrency ecosystem.

The mainnet went live on February 20, which means that the PI token could have broader application scenarios such as payments, staking, and smart contracts. This has strengthened market confidence in the PI token, encouraging investors to buy actively. The recent price increase has primarily been driven by the exchange listing, mainnet launch, and speculative sentiment in the community. However, investors should focus on the technological progress of the mainnet, the ecosystem’s development, and remain cautious of short-term market hype risks[10].

NS — The price surged by approximately 146.1% in a single day, with a circulating market cap of $35.47 million.
Sui Name Service (SNS) provides decentralized domain management services on the Sui blockchain, allowing users to bind human-readable names to blockchain addresses, thus enhancing the readability and accessibility of digital identities. SNS optimizes the user experience in the Sui ecosystem with its seamless and secure solutions, making it an important part of the infrastructure on this blockchain.

Recently, SNS partnered with Talus to introduce and name AI agents in the Sui ecosystem. Talus also launched the Tallys NFT series and held an NFT cross-community tournament to celebrate this partnership. The market’s increased attention to SNS, possibly due to this news, has driven substantial price appreciation for NS tokens, reflecting investor optimism about the expansion of the SNS ecosystem and its potential growth opportunities[11].

IP — The price surged by approximately 58.13% in a single day, with a circulating market cap of $1.218 billion.
Story is an L1 blockchain platform designed specifically for tokenizing intellectual property (IP). The platform has already tokenized $61 million worth of scientific, creative, and brand IP, enabling users to automatically set IP usage and monetization terms through programming. Story’s goal is to provide users with a flexible and decentralized solution to manage and trade IP assets.

Recently, Story released its 2025 technical roadmap, planning to launch an IP portal website and decentralized proof services in Q2. These new features are expected to enhance the platform’s user experience and smart contract execution efficiency, further strengthening its decentralized governance structure. As the project progresses, Story could attract more developers and IP owners, driving ecosystem expansion and potentially positively impacting the value of its token. The recent price increase may be related to these project updates[12].

Data Highlights

OpenSea’s Market Share Soars to 71.5% After Launch of SEA Token

After OpenSea officially announced the launch of its native token SEA on February 13, its share of the NFT market saw a significant rise. According to data from The Block, in the past week, OpenSea accounted for 71.5% of the Ethereum NFT market trading volume, a substantial increase from 25.5% four weeks ago, largely taking market share from competitor Blur.

Since the announcement, OpenSea’s daily active users and trading volume have noticeably increased, with the platform’s average daily transaction volume reaching $17.4 million, compared to only $3.47 million in the five days prior to the token launch — a nearly fivefold increase. The SEA token aims to reward platform users and creators, boosting both trading and creative activity. The token launch not only increased trading activity but also enhanced user loyalty and platform stickiness, further consolidating OpenSea’s leadership in the NFT space[13].

Lending Protocol PACT Officially Bridges to Aptos, Expected to Drive TVL Growth for Aptos

Aptos announced on the X platform that the lending protocol PACT has officially bridged to Aptos. PACT aims to leverage Aptos’ low-cost infrastructure to connect global capital markets with billions of underserved borrowers. Moving forward, PACT will migrate its tokens to Aptos and provide a 1:1 token bridge for holders, while also driving governance updates and establishing strategic and technical partnerships with Aptos to accelerate development.

The bridge between PACT and Aptos is expected to generate $1 billion in capital inflows, which will drive the growth of Aptos’ TVL (Total Value Locked). Additionally, with token migration, lending activities, and increased on-chain interactions, trading volume and active addresses are expected to rise. As the demand for APT staking in the lending market grows, the demand for APT tokens may also increase, driving higher usage of cross-chain bridges. The addition of PACT is expected to enhance liquidity within the Aptos ecosystem, expand the lending market, and improve overall network activity, potentially becoming a significant catalyst for Aptos ecosystem expansion[14].

Shadow Sets a New Single-Day Trading Volume Record of $252 Million, Surpassing Hyperliquid and Berachain

On February 21, Shadow Exchange, a decentralized exchange in the Sonic ecosystem, set a new record with $253 million in trading volume within 24 hours, surpassing Hyperliquid ($137 million) and Berachain ($178 million), becoming an important DeFi project. The price of the SHADOW token surpassed $200, marking a 30% increase over the 24-hour period.

Shadow is a decentralized finance (DeFi) project in the Sonic ecosystem, aiming to provide an efficient centralized liquidity protocol layer and trading platform. Users can earn transaction fee shares and additional rewards (such as bribery rewards) by voting on token emissions. The platform supports flexible fee distribution and dual emission mechanisms, among other features. In terms of tokenomics, Shadow employs the x(3,3) incentive model. According to Andre Cronje, the founder of Sonic Labs, this model is an improvement over the ve(3,3) model. Token holders earn fee revenue without locking their tokens, while locking xSHADOW tokens enables them to earn additional incentives. This approach brings a new development idea to decentralized exchanges and the DeFi ecosystem, attracting more users’ attention[15].

Spotlight Analysis

SEC Approves Figure’s First Interest-Bearing Stablecoin YLDS, Offering a 0.5% Annual Interest Rate

Figure Markets, a digital asset company, has received approval from the U.S. Securities and Exchange Commission (SEC) to launch its first interest-bearing stablecoin, YLDS. YLDS will be pegged 1:1 to the U.S. dollar and offer a 0.5% annual yield to holders, similar to the cash interest earned in a savings account. Figure Markets aims to drive financial democratization through blockchain technology, with plans to build an “Exchange for Everything” — a decentralized custody market that spans cryptocurrencies, stocks, bonds, credit, and more. Figure Markets and its subsidiary, Figure Technology Solutions, have long been leaders in the on-chain real-world assets (RWA) space. They currently manage over $12 billion in total locked value (TVL) in RWAs on the Provenance Blockchain. The launch of YLDS is expected to further drive growth in this area.

The approval of YLDS marks another step forward in the regulatory compliance process for the stablecoin market, positioning YLDS as one of the few stablecoin products recognized by the SEC. Compared to traditional non-interest-bearing stablecoins (such as USDT and USDC), YLDS could attract a broader range of users, including investors looking to hold digital assets and earn yields within a compliant environment. Additionally, this product could reshape the DeFi yield landscape, competition in the banking deposit market, and the regulatory requirements for stablecoins[16].

Canary LTC ETF Listed on DTCC, Moving Toward Market Readiness

On February 21, Canary’s LTC ETF was listed on the U.S. Depository Trust & Clearing Corporation (DTCC) website under the code LTCC. This development marks the product’s gradual move toward the market readiness phase. Although the listing on DTCC does not imply that the LTC ETF has been approved or is ready to trade, it signifies that the issuer has started preparations for potential future approval and trading[17].

This development holds profound implications for both Litecoin and the broader cryptocurrency market. As the LTC ETF moves forward, investors will be able to participate in Litecoin investments more conveniently through traditional financial markets, potentially bringing in more capital inflows and market attention to the asset. However, despite the market’s optimism about the LTC ETF’s approval, it is essential to monitor potential impacts from regulatory factors and market reactions.

Franklin Templeton Launches Cryptocurrency ETF, Targeting Bitcoin and Ethereum Investment Market

Asset management company Franklin Templeton officially launched the Franklin Crypto Index ETF (EZPZ) on February 20, allowing investors to more easily purchase a diversified portfolio of Bitcoin and Ethereum assets. This is the second cryptocurrency index ETF to enter the U.S. market. Previously, asset management firm Hashdex launched the Nasdaq Crypto Index US ETF (NCIQ) on February 14. The ETF is listed on the CBOE BZX Exchange and is based on the CF Benchmarks institutional-grade digital asset index, which allocates Bitcoin (BTC) and Ethereum (ETH) by market capitalization. The current portfolio is approximately 82% BTC and 18% ETH.

As more traditional financial institutions enter the crypto market, institutional investor participation continues to rise. Recently, the Abu Dhabi sovereign wealth fund Mubadala Investment Company disclosed that it has purchased $436 million worth of shares in BlackRock’s Bitcoin ETF, further reflecting the growing interest of international institutions in crypto assets. The EZPZ ETF is an important step for Franklin Templeton in the cryptocurrency ETF space, offering a diversified, low-cost investment tool for investors seeking long-term exposure without directly crypto asset custody[18][19].

Funding News

According to RootData, in the past 24 hours, two projects announced their funding rounds, with the highest funding amount reaching $6.5 million. A total of $8.5 million was raised, involving the AI and Zk sectors. Here are the details of the related funding:[20]

Primus Labs — Primus completed a $6.5 million seed round led by Dispersion VC, Symbolic VC, and VanEck, with participation from Samsung Next, Alchemy, and others. The funds will be used to accelerate protocol development and promotion, enhancing privacy computing technology. Primus Labs integrates off-chain datasets onto the blockchain through Interactive Zero-Knowledge Proofs (IZK) and Secure Multi-Party Computation (MPC), ensuring compliance, security, and verifiability. The market is highly focused on privacy computing, with MPC-TLS and zkTLS technologies expected to drive the development of Web3 and DeFi. Institutional investments indicate that traditional finance is accelerating its involvement, and privacy computing will play a key role in Layer 2 and CeFi ecosystems.

InfinityGround — InfinityGround completed a $2 million seed round, with participation from Animoca Brands, MARBLEX, and others. The funds will be used to accelerate platform development, helping developers build AI-driven open applications on blockchains such as Base, BNB Chain, and Kaia. As an AI-native entertainment application chain built on SVM, InfinityGround provides tools for AI casual game development and fosters a unified AI game ecosystem. Its development promotes the application of AI agents on the blockchain, Influencing public blockchain competition, DeFi, and NFT transaction automation, and driving broader AI adoption across the Web3 ecosystem.

Airdrop Opportunities

Monad

Monad is a high-performance EVM-compatible public blockchain designed to enhance transaction processing speed and reduce costs, while maintaining Ethereum’s security and decentralization features. Its testnet provides a development environment for developers and users to experience DApp interactions within the Monad ecosystem. Currently in the testing phase, Monad allows users to engage in on-chain interactions by claiming test tokens, offering an opportunity to experience Monad’s efficient performance[21].

How to Participate:

• Access the Monad testnet[22]
• Connect your wallet and claim test tokens
• Explore Monad ecosystem DApps
• Join the Monad community for eligibility to interact with the community

Note:
Airdrop plans and participation methods may be updated at any time. Users are advised to follow Monad’s official channels for the latest information. Additionally, users should exercise caution, be aware of risks, and conduct thorough research before participating. Gate.io does not guarantee the distribution of future airdrop rewards.


References:

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/zh/bigdata
9. Gate.io,https://www.gate.io/price
10. minepi,https://minepi.com/
11. X,https://x.com/SuiNSdapp/status/1892277149928706464
12. X,https://x.com/StoryProtocol/status/1892619749961380338
13. The Block,https://www.theblock.co/data/nft-non-fungible-tokens/marketplaces/share-of-nft-marketplace-volume
14. X,https://x.com/Aptos/status/1892575359213998093
15. X,https://x.com/ShadowOnSonic/status/1892734239176532273
16. Figure Markets ,https://www.figuremarkets.com/c/ylds
17. Litecoin,https://x.com/litecoin/status/1892729950039417332
18. Franklin Templeton,https://www.franklintempleton.com/investments/options/exchange-traded-funds/products/41786/SINGLCLASS/franklin-crypto-index-etf/EZPZ
19. CBOE ,https://www.cboe.com/us/equities/notices/new_listings/details/
20. Rootdata,https://www.rootdata.com/Fundraising
21. X,https://x.com/monad_eco/status/1892227935375126886
22. monad,https://testnet.monad.xyz

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