Market Overview
In the past 24 hours, the price of Bitcoin (BTC) rose by about 1.02% compared with the previous day, opening at $95,671.74 and closing at $96,644.37. The highest price in 24 hours was $96,899.99 and the lowest price was $95,029.99. The current market value of Bitcoin is $1.9 trillion, accounting for 60.2% of the total market value of cryptocurrencies, up about 1.06% from the previous day.
In the past 24 hours, the price of Ethereum (ETH) rose by about 1.63% from the previous day, opening at $2,672 and closing at $2,715.50. The highest price in 24 hours was $2,736.7 and the lowest price was $2,656.03. The current market value of Ethereum is $327.351 billion, accounting for 10.3% of the total market value of cryptocurrencies, up about 1.51% from the previous day.
In the past 24 hours, 85 of the top 100 virtual currencies by market value rose and 15 fell. The top three currencies with the largest increases were IP (38.32%), S (19.05%), and TAO (14.87%), and the top three currencies with the largest decreases were ENA (5.53%), MOVE (5.31%), and TON (3.33%).
ETF Data
As of press time, the total assets under management of the US Bitcoin spot ETF is $112.59 billion, with a total transaction volume of $2.05 billion on the previous day and a total outflow of $71.07 million on the trading day. The total assets under management of the US Ethereum spot ETF is $10.31 billion, with a total transaction volume of $185 million on the previous day and a total inflow of $19.02 million on the trading day.
As of press time, the total asset management scale of Hong Kong Bitcoin Spot ETF is US$409 million, the total transaction volume on the previous day was US$1.86 million, and the total Bitcoin outflow on the trading day was 19.03 BTC. The total asset management scale of Hong Kong Ethereum Spot ETF is US$55.27 million, the total transaction volume on the previous day was US$434,200, and the total Ethereum inflow on the trading day was 0.02 ETH.
In the past 24 hours, there were 22 transactions on the chain with a single transaction of more than 1,000 BTC, with a total amount of approximately US$3.842 billion, an increase of approximately 1821% from the previous day, mainly flowing to exchanges and wallet addresses. In the past 24 hours, there were 15 transactions on the chain with a single transaction of more than 10,000 ETH, with a total amount of approximately US$550 million, a decrease of approximately 19.12% from the previous day, mainly flowing to exchanges.
The current number of active addresses on the Bitcoin chain is about 680,000, down 6.9% from the previous day, and the current number of active addresses on Ethereum is about 800,000, up 9.6% from the previous day. The top 100 Bitcoin addresses account for 14.98% of the total, up 0% from the previous day, showing no trend of institutional holdings. The top 100 Ethereum addresses account for about 69.56% of the total, up 0.03% from the previous day, showing a trend of institutional holdings.
Recently, the US SEC has been making continuous moves in blockchain and regulation. It has officially confirmed the acceptance of the spot Litecoin ETF application submitted by CoinShares, and also recognized Cboe's Ethereum ETF document with pledge function, accepted WisdomTree's XRP ETF application and solicited public opinions. At the same time, the SEC withdrew its appeal to expand the scope of securities law to cover DeFi. In addition, Trump signed an executive order to restrict independent agencies including the SEC, and the regulatory functions of the Federal Reserve were limited.
Tether CEO announced the launch of a new service, TradeFi, which aims to promote global trade with innovative financing solutions, simplify processes, reduce costs and increase efficiency. It will also promote the trading of commodities such as crude oil and copper, and use USDT for seamless settlement. This is also Tether's new move after the crude oil transaction in November last year. At the same time, the European Union announced the list of MiCA-compliant stablecoin issuers, and 10 institutions including Circle were approved, involving 15 stablecoins, but Tether, with a market value of over US$141 billion, was not among them.
On February 20, the secondary token market SecondSwap launched its mainnet on Ethereum, using a liquidity routing algorithm to optimize transactions and create an efficient market for illiquid assets. The Ethereum Foundation launched the Open Intents Framework, which supports cross-chain interoperability and facilitates developers to deploy protocols. Deribit data shows that more than $1.9 billion in BTC and ETH options will expire tomorrow. At the same time, Ethereum transaction fees fell to a four-year low, down 70% month-on-month, possibly due to weak demand; Bitcoin network activity fell to a 12-month low, with transaction volume down 55%.
Nigerian authorities sued Binance, claiming more than $79 billion in economic losses and $2 billion in back taxes. This amount is nearly 19 times the $4.3 billion fine Binance paid for violating US banking laws in 2023. In addition, Nigeria's tax authority FIRS claimed that Binance was operating illegally in Nigeria.
