(09/52) Weekly Market Insights: [Market security turmoil continues]

Bitcoin had limited volatility last week, recording only a small increase of 0.14%. As the market's enthusiasm for MEME coin trading faded after the LIBRA crash, the overall trading volume of small currencies declined. Although Bitcoin briefly rebounded to $99,000, the gains were immediately reversed due to the Bybit hack and the economic data released last Friday that was worse than expected.

Minutes of the January FOMC meeting showed that members discussed the possibility of pausing or slowing the reduction of the balance sheet before resolving the debt ceiling issue, and expressed concern that changes in trade and immigration policies could push up inflation.
The University of Michigan's five-year inflation expectations climbed to 3.5% in February, the highest level since 1995.
Chinese researchers have discovered a bat virus similar to the coronavirus, but some experts believe the discovery is an overreaction because the virus has a low affinity for humans and herd immunity has improved since 2019.

The upcoming economic calendar includes:

Thursday, February 27, 9:30 AM: January durable goods orders and second estimate of fourth quarter GDP released
Friday, February 28, 9:30 p.m.: January core PCE, personal income and personal spending data released

Bybit was attacked by the North Korean hacker group Lazarus Group, which stole ETH worth $1.4 billion through a disguised Safe interface. In the past week, the Bybit exchange experienced a net outflow of about $5.5 billion. However, according to the exchange's CEO, its ETH reserves have now been fully restored.
Ethena reported $30 million in unrealized gains and losses on Bybit, but no spot assets were deposited there. USDe briefly de-pegged due to market concerns that USDe might face collateral losses, but AAVE said that USDe collateral did not result in any bad debt during this period.
Strategy (formerly MicroStrategy) announced the issuance of US$2 billion in 0% convertible senior notes due on March 1, 2030, and plans to use the proceeds for Bitcoin acquisitions and working capital.
OpenSea CEO said that the US SEC is about to end its investigation into OpenSea. In addition, the enforcement case against Coinbase is also expected to be dropped.
Canary Litecoin ETF has been listed on the Depository Trust & Clearing Corporation (DTCC) system with the ticker symbol LTCC.

The Ethereum Foundation announced the launch of the Open Intents Framework, which aims to enable seamless cross-chain interoperability within the Ethereum ecosystem. The framework includes a reference implementation of ERC-7683, an intent standard proposed by Uniswap and Across.
Monad, the new high-performance EVM-compatible public chain, has officially launched its highly anticipated testnet with a 0.5 second block time. The testnet aims to achieve a processing capacity of 1 billion gas per second before the mainnet goes live, which is about 40 times the current capacity of Base.
Hyperliquid launched the HyperEVM mainnet, and it is expected that a large number of DeFi applications will be launched one after another. Currently, protocols such as HypurrFi, HyperSwap and Keiko are already officially running on the mainnet.
NEAR has released the Shade Agents framework, allowing developers to use the framework to build automated AI agents, and use trusted execution environments (TEEs) to increase autonomy, use off-chain data and models, and execute transactions on all blockchains through NEAR Chain Signatures.
Bittensor has successfully launched dTAO, which currently has 70 subnets with a total market value of approximately $85 million (in Alpha tokens). Among them, Subnet 4, Targon, ranks first among all subnets with 12.3% of the issued equity.

Kaito launched the KAITO token with a FDV of $1.5 billion. This successfully demonstrated how centralized platforms can integrate crypto technology into their services. In addition, Kaito also runs on Bittensor subnet 5 to achieve decentralized search indexing.
Crossmint, Solana’s smart wallet, has officially launched its Beta version on the development network, with features such as gas-free transactions and programmable security modules.
Maple and CoreDAO announced the launch of lstBTC, which allows BTC holders to earn returns through custody services of trust institutions such as BitGo, Copper and Hex Trust.
IO has launched co-staking, where stakers can now stake together with equipment suppliers to obtain rewards, reducing the burden on equipment suppliers.
Virtuals Protocol announced the Agent Commerce Protocol, an open standard designed to support commercial transactions and coordination among multiple agents.
Li.Fi Protocol, a cross-chain bridge aggregation protocol, released LIFI 2.0, an intent network that enables transactions in any VM environment.
OpenEden launched USDO, a yield-generating stablecoin collateralized by tokenized U.S. Treasuries, and holds a Bermuda Digital Asset Business Act (DABA) license.
Moonwell launches Virtual Accounts, a fee-free US checking account. Users can receive USD through ACH, wire transfer, PayPal, etc., and convert it into USDC and deposit it into the USDC vault to earn income, or use Moonwell Card for consumption.

ETHDenver takes place from February 23rd to March 2nd.
Stacks plans to increase the sBTC cap to 3,000 BTC on February 25 and offer a 5% APY.
Kaito is expected to start issuing staking rewards to stakers, with revenue coming from liquidity incentive allocations and network fees.
Solana plans to unlock 8.7 million SOL on March 1, with a total value of approximately US$1.5 billion.
Pump.fun is reportedly developing its own AMM liquidity pool with the domain name amm.pump.fun.
Story Protocol announced its technology roadmap, aiming to launch IP Portal (IP registration and browsing platform) and Story Attestation (an oracle network for on-chain IP verification signals) in Q2.
Curve founder Michael Egorov is reportedly developing a new project Yield Basis, which aims to solve the impermanent loss of liquidity providers (LPs). The strategy involves borrowing crvUSD to establish a position that adjusts the liquidity ratio, thereby eliminating impermanent loss.
MakerDAO passed an emergency proposal to increase the borrowing limit of SKY tokens, claiming that this move was to deal with potential governance attacks. The team also withdrew Uniswap V2 liquidity and lowered the surplus threshold to 70 million DAI, allowing the repurchase and destruction mechanism to be activated immediately.
Liquity announced that V2 will be redeployed in mid-March.
FTX expects to distribute claims over $50,000 on May 30.

ALT tokens were unlocked on February 25th, accounting for 9.47% of the total supply.
OP tokens were unlocked on February 28, accounting for 2.39% of the total supply.
GRASS tokens were unlocked on February 28th, accounting for 1.52% of the total supply.
SUI tokens were unlocked on March 1, accounting for 2.60% of the total supply.
ENA tokens were unlocked on March 2, accounting for 3.02% of the total supply.
JTO tokens were unlocked on March 7, accounting for 3.84% of the total supply.
MOVE tokens were unlocked on March 9th, accounting for 2.08% of the total supply.
IO tokens were unlocked on March 11th, accounting for 2.17% of the total supply.
APT tokens were unlocked on March 12, accounting for 1.91% of the total supply.
STRK tokens were unlocked on March 15th, accounting for 2.47% of the total supply.