TL;DR

• BTC and ETH declined following higher-than-expected U.S. January CPI data. The market is under pressure, with a weak outlook in the short term.
• Among altcoins, sectors such as Payment Solutions, PolitiFi, and Wallets saw significant increases.
• Ethereum staking rate dropped to 27%, the lowest since July 2024.
• U.S. SEC has accepted Grayscale’s application to convert its XRP Trust into an ETF.
• OpenSea Foundation announced the launch of the SEA token and the release of the OS2 beta platform.
• GameStop is considering investing in Bitcoin and cryptocurrencies, with its stock price surging after hours.

Market Analysis

• BTC — The price of BTC has dropped by 0.15% in the past 24 hours, with the current price at $97,194.8. The highest price during this period was $98,086, and the lowest was $95,219. The market is under pressure due to the U.S. January CPI data exceeding expectations, which has tempered expectations for a rate cut by the Federal Reserve, putting pressure on risk assets across the board. From a technical perspective, BTC is currently facing resistance from a descending trendline, with support expected at $95,000.[1]

• ETH — The price of ETH has dropped by 0.78% in the past 24 hours, with the current price at $2,712.65. The highest price during this period was $2,757, and the lowest was $2,613. Similar to BTC, ETH is also under pressure due to the CPI data, with a weak short-term trend and a lack of momentum for a rebound. From a technical standpoint, the resistance level to watch is in the $2,688–$2,755 range.[2]

• ETF — According to SoSoValue data, on February 13th, the total net outflow from U.S. Bitcoin spot ETFs was $156 million[3], while the total net inflow into the U.S. Ethereum spot ETFs was $869,700, with data as of 14:00 UTC+8[4].
• Altcoins — Sectors such as Payment Solutions, PolitiFi, and Wallets increased by 11.2%, 3.5%, and 3.3%, respectively[5].
• U.S. Stock Indices — The S&P 500 index rose by 1.04%, the Nasdaq index increased by 1.50%, and the Dow Jones index went up by 0.77%[6].
• Spot Gold — The price of spot gold reached $2,930.31 per ounce, up 0.14% on the day, with data as of 14:00 UTC+8[7].
• Fear and Greed Index — The Fear and Greed Index dropped from 50 yesterday to 48, with market sentiment remaining neutral[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 — The price increased by approximately 77.05% in a single day, with a circulating market capitalization of $86.34 million.

MyShell is an open AI application ecosystem where users can create, share, and own AI agents, enabling no-code AI applications development. The platform integrates AI and blockchain, offering convenient AI solutions for both developers and general users.

Recently, MyShell successfully completed the Initial DEX Offering (IDO) for the SHELL token, which generated significant market attention. A total of 40 million SHELL tokens were sold during the IDO, accounting for 4% of the total supply, with a fundraising target of approximately $800,000. The IDO saw much higher than expected participation, indicating strong market recognition of MyShell and its AI creation ecosystem. MyShell has also opened the airdrop query for SHELL tokens, allowing users to confirm their airdrop amounts through official channels. These positive developments have increased market interest and could be a key factor driving the rise in SHELL token prices[10].

DOGI — The price increased by approximately 26.33% in a single day, with a circulating market capitalization of $15.2 million.

DOGI is the first DRC-20 token based on the Dogecoin blockchain, designed to expand the Doginals ecosystem and enhance community use cases. The DRC-20 standard is inspired by BRC-20, introducing off-chain balance states to improve token fungibility and flexibility. The introduction of DOGI injects new energy into the Dogecoin ecosystem, expanding its application scenarios and creating more opportunities for community members to participate and engage. Its decentralized, fair, and efficient features allow it to hold a key position in the DRC-20 space.

Additionally, DOGI has partnered with the crypto marketing agency MAKE to promote the development of the DRC-20 ecosystem. These developments have boosted investor confidence and may have contributed to the further rise in DOGI token prices[11].

A8 — The price increased by approximately 16.36% in a single day, with a circulating market capitalization of $54.08 million.

Ancient8 is an Ethereum-based Layer 2 network focused on providing efficient, low-cost infrastructure for Web3 games and decentralized applications (dAPPs). The platform utilizes OP Stack and Celestia technologies to offer developers and users a fast and low-fee transaction experience.

Recently, Ancient8 announced that it had received funding from the Optimism Governance Fund, with plans to use this capital to empower developers and build an on-chain gaming ecosystem. Additionally, Ancient8 launched the “Stellar Forger Alpha: Chapter One” demo event, which runs from February 12 to March 12. During this period, players can fight alien creatures, craft equipment, and compete for rewards totaling $20,000 in A8 tokens and 50 million MEDAL tokens by improving their rankings. This update may have increased market attention on the Ancient8 ecosystem, contributing to the continued rise in A8 token prices[12][13].

Data Highlight

Ethereum Staking Rate Drops to 27%, the Lowest Since July 2024

The Ethereum staking rate has declined from a peak of 28.71% at the end of 2024 to 27%, reaching its lowest level since July 2024. This suggests that some capital has exited the staking market, moving to other ecosystems or higher-yield opportunities. Currently, the total amount of ETH staked on the Ethereum network stands at approximately 33.5 million ETH, ensuring robust network security. Liquid Staking Derivative (LSD) protocols continue to dominate, with Lido holding a 69% market share, reflecting the market’s high concentration. Lido’s revenue for January totaled $89 million, consistent with its 12-month average.

The recent pullback in ETH this year may signal a cooling of market sentiment, as investors adopt a more rational approach to staking. Meanwhile, Lido’s dominance in the LSD sector remains a key topic in decentralized finance (DeFi) discussions. If Ethereum’s staking rate continues to decline, concerns over market concentration could intensify [14].

Tether Secures Overcollateralization Through Precious Metals and Bitcoin Holdings

Tether is the first and most widely used stablecoin issuer, primarily issuing the USDT stablecoin, which is pegged to the U.S. dollar. According to Tether’s latest certified report, the company holds approximately $5.3 billion in precious metals and $7.8 billion in Bitcoin. This represents one of the most notable commodity hedging strategies, providing robust backing for Tether’s overcollateralization. By holding physical assets, Tether not only strengthens its financial stability but also boosts market confidence in the stability of USDT. This strategy demonstrates Tether’s leadership in the cryptocurrency market and sets a new standard for the stablecoin industry[15][16].

Doodles Launches Official Token and Chooses Solana as the Launch Chain

The NFT project Doodles has announced the launch of its official token, DOOD, and has chosen Solana as the initial blockchain for its release, with plans to later cross-chain to Base. The total supply of DOOD tokens is 10 billion, with 68% allocated to the community to drive ecosystem development and community governance.
After the announcement, the floor price of Doodles NFTs quickly surged from 3.77 ETH to a high of 4.62 ETH, a rise of approximately 22.56%, reflecting the market’s positive response to tokenization. This trend aligns with the recent market enthusiasm surrounding the launch of cultural tokens (Culture Coin) by projects like Pudgy Penguins and Azuki. Solana, which has recently performed strongly as a public blockchain, became the preferred chain for the DOOD token launch, and the future inclusion of Base may further broaden its use cases[17].

Spotlight Analysis

U.S. SEC Accepts Grayscale’s Application to Convert XRP Trust into an ETF

The U.S. Securities and Exchange Commission (SEC) has officially accepted Grayscale’s 19b-4 application, submitted in partnership with the New York Stock Exchange Arca, to convert Grayscale’s XRP Trust Fund (currently managing approximately $16.1 million) into a spot Exchange-Traded Fund (ETF). In the cryptocurrency space, a trust-to-ETF conversion refers to transforming an asset originally managed as a trust into an exchange-traded fund that is publicly traded on a securities exchange. After the conversion, the cryptocurrency asset can be traded on mainstream securities markets, increasing its market recognition, liquidity, and investor participation.

While this move does not guarantee automatic approval, nor does it ensure a final approval, it shows the SEC’s increasingly open attitude toward cryptocurrency ETFs rather than outright rejection. Although crypto ETFs, including those for LTC, DOGE, SOL, and XRP, will still need to undergo the full review process, this is an important first step, bringing potential for the launch of such products in the future[18].

OpenSea Foundation Announces the Launch of SEA Token and OS2 Beta Platform

The OpenSea Foundation has announced the launch of the SEA token and plans to airdrop it to historically active users, ensuring an easy claim process, with U.S. users also eligible to participate. The specific airdrop timing remains unannounced. In the meantime, OpenSea launched its new OS2 beta platform, which supports 14 blockchains and will expand to include more chains in the future. It also introduces native cross-chain purchasing functionality. During the testing period, the platform’s market fees have been reduced to 0.5%, with transaction fees set to 0, and all users are eligible for rewards.

OpenSea’s CEO stated that the SEA token will reward early supporters and drive the platform’s sustainable growth. This update marks a new phase for OpenSea, with plans to continuously roll out NFTs, tokens, creator tools, and innovative products combining AI and blockchain technology[19].

GameStop Considers Investing in Bitcoin and Cryptocurrencies, Shares Surge After Hours

GameStop is exploring the possibility of investing in Bitcoin and other cryptocurrencies, leading to a 20% surge in the company’s stock price during after-hours trading. Although a final decision is pending, the company is still evaluating whether this strategy aligns with GameStop’s business direction. Additionally, GameStop CEO Ryan Cohen posted a photo with MicroStrategy co-founder Michael Saylor on social media platform X, sparking market speculation.

As early as 2022, GameStop launched a cryptocurrency wallet to support cryptocurrency and NFT transactions, but the service was shut down in 2023 due to regulatory uncertainty. Cohen, who purchased GameStop stock in 2020 and joined the board of directors in 2021, has been focused on cost-cutting and optimizing business operations. According to GameStop’s financial report, as of November 2, 2023, the company holds $4.6 billion in cash reserves, which will be used to develop new investment policies that allow Cohen and board members to manage the securities portfolio. If GameStop chooses to invest in Bitcoin, it would align with the strategy of MicroStrategy, which has purchased billions of dollars worth of Bitcoin in recent years. Despite the stock price volatility due to fluctuations in Bitcoin’s price in the short term, the long-term growth potential appears significant[20][21].

Funding News

According to RootData, In the past 24 hours, six projects have publicly announced funding, with the highest funding amount reaching $24 million. The total funding raised exceeds $37 million, involving sectors like DePIN, payments, AI, and DeFi. Below are the top three funding rounds:[22]

Plasma — Plasma, a stablecoin company, has completed a $24 million funding round, led by Framework Ventures, with participation from Tether CEO Paolo Ardoino and others. Plasma is a scalable payment and financial infrastructure on Bitcoin, and the funds will be used to accelerate the development of the Plasma blockchain network, among other initiatives. Plasma is built on a native UTXO foundation, allowing users to pay gas fees with BTC while seamlessly integrating with existing Bitcoin infrastructure. By utilizing a hybrid UTXO/account structure, users can unlock new features for holding, staking, and deploying their Bitcoin, navigating seamlessly between the UTXO and account spaces.

Plasma plans to launch its blockchain network, based on a unique consensus mechanism developed on the Bitcoin blockchain, in early Q2 of this year, with a focus on optimizing stablecoin transaction efficiency. The network will support zero-fee Tether transactions and be compatible with DeFi protocols such as Curve, Ethena, and Aave.

BitRobot — BitRobot has raised $6 million in seed funding, led by Protocol VC, with participation from Big Brain Holdings, Fabric Ventures, and others. Developed by FrodoBots Lab and Protocol Labs, BitRobot is a Solana-based crypto incentive platform. The funds will be used to support the development and promotion of BitRobot, which aims to advance research and applications in the field of Embodied AI.

BitRobot focuses on Embodied AI, which combines artificial intelligence with physical entities, enabling AI to interact with the physical world. The research network aims to provide an open platform for developers and researchers to promote innovation and collaboration in robotics, machine learning, and AI.

Through BitRobot, FrodoBots Lab seeks to accelerate the research of Embodied AI and push for the application of intelligent robots across industries such as healthcare, manufacturing, and services. The platform is expected to create new opportunities and challenges for the development of AI and robotics technologies.

Teneo Protocol — Teneo Protocol has completed a $3 million seed funding round, led by RockawayX and Borderless. Teneo Protocol is a decentralized physical infrastructure network (DePIN) protocol aimed at unlocking access to social media data through the power of the community. It is built on Peaq, a Layer 1 blockchain specifically designed for DePIN and the machine economy. Teneo Protocol has launched Teneo Community Nodes, a Web3 browser extension that allows users to contribute to an ever-growing data network by collecting public posts from platforms like X (formerly Twitter) and Reddit. Users’ contributions will be rewarded with Teneo Points, which can later be converted into Teneo tokens.

With this funding, Teneo Protocol plans to accelerate the development of its platform and further drive the decentralization of data ownership, rewarding users for their contributions to unlocking public social media data. This will open up new possibilities for industries like AI, finance, and marketing that rely on real-time social data.

Airdrop Opportunities

LITAS

LITAS is a blockchain-based digital financial platform designed to simplify the process for small and medium-sized enterprises (SMEs) to access digital financial services and easily integrate their business into the crypto economy ecosystem. The platform provides secure transaction tools, investment opportunities, and a community-driven support system, aiming to bridge the gap between traditional finance and the world of cryptocurrencies. LITAS has also secured a $20 million token investment commitment from Rollman Management to further develop its technology and business, and has launched the LITAS token incentive program, where users can earn token rewards by registering and participating in platform mining activities[23].

How to Participate:

• Visit the official LITAS website and register an account[24].
• Log in using your email or Telegram.
• Click on Miner and activate your miner every 3 hours.
• Upgrade your miner to increase mining rewards.

Note:
The airdrop program and participation methods may be updated at any time, so users are advised to follow official LITAS channels for the latest information. Additionally, users should exercise caution and be aware of the risks, ensuring they conduct thorough research before participating. Gate.io does not guarantee the subsequent distribution of 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. X,https://x.com/myshell_ai/status/1890069308220514374
11. X,https://x.com/makeagency_io/status/1889962729324372177
12. X,https://x.com/StellarForger/status/1889630415356309764
13. X,https://x.com/Ancient8_gg/status/1889298370440864181
14. TheBlock,https://www.theblock.co/data/on-chain-metrics/ethereum/ethereum-percentage-eth-staked
15. X,https://x.com/gaborgurbacs
16. Tether,https://assets.ctfassets.net/vyse88cgwfbl/6L2yLNnLltcCP6ZcTxJrll/aea0ec279fea08637445c8be57f63d87/ISAE3000R-_Opinion_on_Tether_Consolidated_Financials_Figures_31.12.2024.pdf
17. X,https://x.com/doodles/status/1890082290858094887
18. X,https://x.com/EleanorTerrett/status/1890182783730888827
19. X,https://x.com/opensea?lang=zh-Hant
20. CNBC,https://www.cnbc.com/2025/02/13/gamestop-is-considering-investing-in-bitcoin-and-other-cryptocurrencies-sources-say.html?__source=sharebar%7Ctwitter&par=sharebar
21. X,https://x.com/ryancohen?lang=zh-Hant
22. Rootdata,https://www.rootdata.com/Fundraising
23. X,https://x.com/LITAS_IO
24. LITAS,https://wallet.litas.io/register

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