Crypto Data and Research Reports

Ethereum Foundation Co-Executive Director Wang Xiaowei discussed issues such as Ethereum scalability, user experience, and AI agents at Consensus 2026, emphasizing that L2 should pursue differentiation while L1 should serve as a secure settlement layer. She also mentioned plans to push dynamic account abstraction to improve user experience, enhance privacy features, advance ZK-EVM to reduce network load, and called for establishing trust standards for AI agents.

The UK Treasury has selected HSBC's Orion blockchain platform as the technology provider for the pilot issuance of digital sovereign bonds (DIGIT), planning to conduct testing within the legal sandbox, highlighting the institutional approach to sovereign debt tokenization. This trial will enhance settlement speed but faces liquidity bottlenecks. Traditional financial institutions will benefit from this process, demonstrating the potential for blockchain to be integrated into the traditional financial system.

U.S. non-farm employment in January significantly exceeded expectations, leading to adjustments in market expectations for Federal Reserve rate cuts, triggering volatility in global stock indices and capital inflows for hedging. Gate Index contract holdings surged, various asset trades became active, and up to 100x leverage is offered, dedicated to building a diversified contract trading system.

Cryptocurrency hackers can now transfer stolen funds within 2 seconds of an attack starting, and in most cases, they move assets before victims disclose data breaches. Global Ledger's analysis of 255 crypto hacking incidents in 2025 draws the clearest conclusion: 76% of hacker attacks had funds transferred before public disclosure, and this percentage rose to 84.6% in the second half of the year.

The yield-bearing stablecoin market has grown from nearly zero at the end of 2023 to a scale of $140 billion by early 2026, becoming a new liquidity foundation for the crypto market. The participation of traditional financial institutions has made it no longer a virtual scenario, with protocols like Aave and Morpho gradually evolving into "on-chain banks," driving the maturity of financial infrastructure. Investors should focus on long-term sustainability, institutional capital inflows, and the evolution of collateral assets, which will enhance the overall capital efficiency of the DeFi ecosystem.

PEPE meme coin has declined for six consecutive weeks, but Santiment on-chain data shows that smart money accumulation remains strong. The top 100 largest wallets have held approximately 23.02 trillion PEPE over the past four months. Hyperliquid well-known trader James Wynn sold off after predicting last month that PEPE's market cap could reach $69 billion.

On February 5th, Bitcoin's price dropped from $70,000 to $60,000, with on-chain realized losses reaching $3.2 billion, marking the largest single-day loss in history. This sell-off is analyzed as a typical capitulation event, potentially signaling the bottom of the bear market.

Last week, the cryptocurrency market experienced intense volatility, with Bitcoin plummeting from around $70,000 to $60,000 in a short period, triggering the largest "realized loss" event in history. On-chain analysis platform Glassnode shows that the adjusted realized losses reached as high as $3.2 billion, setting a new record for the Bitcoin network. This metric measures the USD value of Bitcoin sold below cost and excludes the impact of transfers within the same entity, thus providing a more accurate reflection of genuine selling pressure. This figure even exceeds the approximately $2.7 billion loss during the 2022 LUNA collapse, indicating that the current downward sentiment shock has surpassed the darkest phase previously experienced. Data platform Checkonchain pointed out that this market movement exhibits typical "capitulation sell-off" characteristics: rapid decline, large transaction volumes, mainly driven by holders with the weakest conviction being forced to liquidate.

PANews February 12 News, according to Cointelegraph, Polkadot data shows that robots currently generate 51% of the total network traffic, officially surpassing human activity for the first time.

Tether USA₮ CEO Bo Hines stated at the New York Bitcoin Investors Weekly Conference that driven by the demand for USDT and the newly launched USAT, Tether is expected to become one of the top ten buyers of U.S. Treasury bonds this year. The circulating value of USDT is approximately $185 billion, with 83.11% of reserves in U.S. Treasuries valued at over $122 billion, surpassing Germany to rank among the top 20 foreign holders.

Alameda Research bankruptcy liquidation address will exchange the 129 million STG tokens it holds for 11.142 million ZRO tokens, valued at $24.29 million, accounting for 12.9% of the total STG supply. LayerZero plans to launch the L1 public chain Zero and has acquired Stargate for $110 million.

Bitcoin (BTC) has once again weakened and declined, currently around $67,570 as of February 12. The US non-farm payrolls added 130,000 jobs in January, exceeding expectations and suppressing rate cut expectations. BlackRock will purchase an undisclosed amount of Uniswap tokens UNI. MicroStrategy CEO stated that the company will issue more perpetual preferred shares to alleviate investors' concerns about the stock price.

"Today Show" host Savannah Guthrie's mother, Nancy Guthrie, has been kidnapped. The ransom letter demands $4 million in Bitcoin, with a potential increase to $6 million if not paid. TMZ reported recent activity of hundreds of dollars in transactions on the Bitcoin wallet. A Polymarket market titled "Can the kidnapping suspect be caught before February 28?" shows traders estimating the probability at approximately 78%.

JPMorgan analysts are optimistic about the cryptocurrency market in their latest report, believing that institutional investor capital inflows and regulatory clarity will support market growth. Although Bitcoin's current trading price is below production costs, it is expected to self-correct, and crypto legislation will drive market recovery.

ChainCatcher message: According to Arkham data, at 06:59, 11,141,600 ZRO (worth approximately $24.29 million) was transferred from an anonymous address (starting with 0x9219...) to Alameda Research.

Within 18 hours, XRP had regained the level of $1.41, and it rose by more than 25 percent since the last time it was below $1.15. Whale activity was up sharply, with 1389 transactions over $100,000, which is the highest since four months ago. There was a rapid increase in network

ChainCatcher reports that, according to Arkham data, at 01:08, 75,150.89 SOL (worth approximately $5,886,600) was transferred from an anonymous address (starting with 26bmhQ...) to degen-retard.sol.

ChainCatcher message: According to Whale Alert monitoring, the USDC Treasury has minted an additional 250 million USDC on the Solana chain.

Polygon joins EEA to work on institutional payment rails, global settlement, and compliant movement from onchain to traditional rails. Open Money Stack ties stablecoin rails to Coinme on/off ramps and Sequence wallet tools for merchant and user access. Polygon has joined the Enterprise

Messari's BNB Chain Q4 2025 report shows that the BNB market capitalization at the end of the year reached $118.9 billion, a 17.8% increase year-over-year. The average daily trading volume grew by 30.4%, with RWA becoming the growth engine, and on-chain scale reaching $20 billion. The stablecoin market cap increased by 9.2%, and DeFi TVL was $6.6 billion.