Centralization in the AI industry is driven by the concentration of capital in large companies. Decentralization technologies can address both funding and operational challenges in AI. Crypto rails enable permissionless access to computing resources, enhancing decentralization.

The post Jeffrey Quesnelle: Centralization in AI is stifling innovation, how decentralization can democratize access, and the critical role of smart contracts in AI training | Raoul Pal appeared first on Crypto Briefing.

Tether integrates USA with Rumble Wallet, enabling creators to receive regulated US dollar stablecoin payouts on chain.

The post Tether brings USA₮ stablecoin to Rumble Wallet for creator payouts appeared first on Crypto Briefing.

OpenAI launches EVMbench with Paradigm to test AI on smart contract vulnerabilities and commits $10M to cybersecurity research.

The post OpenAI launches benchmarking system for securing crypto tokens and smart contracts appeared first on Crypto Briefing.

Financial crises have a more profound impact on asset markets than ordinary recessions. Asset prices drop more during financial crises due to an extra risk premium channel. Asset markets typically recover faster than economic activity post-crisis.

The post Tyler Muir: Financial crises amplify asset price drops, why recovery dynamics differ from economic activity, and the rise of populism post-crisis | Macro Musings appeared first on Crypto Briefing.

Aave's new model aims to boost revenue and enhance user experience in decentralized finance.

The post Stani Kulechov: Aave’s token-centric model enhances value capture, V4 introduces a hub and spoke architecture, and DAOs boost governance resilience | Unchained appeared first on Crypto Briefing.

Bitcoin Magazine

FutureBit launches Apollo III, U.S.-Engineered Home Bitcoin Miner

FutureBit launched the Apollo III today, a new home Bitcoin mining system combining a high-performance miner and a full Bitcoin node in a single desktop device.

The system is built around next-generation 3nm American-designed ASICs and a custom in-house controller, marking the first U.S.-engineered Bitcoin ASIC paired with a domestically built hardware platform in a consumer desktop form factor, according to a note shared with Bitcoin Magazine.

The Apollo III continues FutureBit’s mission to decentralize hash power through low-power, individual-focused systems.

Founder John Stefanopoulos highlighted the device’s role in strengthening Bitcoin decentralization, referencing the company’s 2024 milestone of mining a modern-era sovereign solo block.

“In 2024, our customers mined one of the first modern- era sovereign solo blocks, sending shockwaves through the industry and proving that industrial scale wasn’t a prerequisite for meaningful participation in Bitcoin,” Stefanopoulos said. “Apollo III expands that possibility. Nearly 20 terahash of efficient, accessible hash power in the hands of individuals strengthens the decentralization that Bitcoin was built for.”

Key specifications include up to 18 TH/s in Turbo Mode, up to 15 J/TH efficiency in Eco Mode, an integrated full Bitcoin node with solo mining capability, and a desktop‑class controller featuring 8 ARM cores, 8 GB RAM, and a 2 TB SSD.

Designed for continuous operation in a home or office, Apollo III provides more than 10 TH/s while consuming power similar to standard household electronics. The company said the Apollo III is a personal computing solution for Bitcoin infrastructure, giving individuals the tools to run both a miner and a node without relying on industrial-scale operations.

FutureBit’s Bitcoin mining at home

FutureBit’s Apollo line of home Bitcoin miners, including the Apollo II with 10 TH/s and a full Linux node, makes mining at home accessible while promoting network decentralization. 

The company aims to restore “full Bitcoin citizenship” by combining mining power with running a full node, echoing Satoshi’s original vision. While home mining is no longer competitive for profit, it offers privacy, education, and the ability to verify balances without relying on third parties.

Home miners can contribute to decentralization both geographically and in block template diversity, reducing the influence of large industrial pools and potential regulatory capture. 

By empowering individuals to mine and run their own nodes, FutureBit seeks to foster a more resilient, distributed, and user-controlled Bitcoin network.

This post FutureBit launches Apollo III, U.S.-Engineered Home Bitcoin Miner first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Trump Sons Tout a $1 Million Bitcoin Price as Goldman CEO Says He Owns BTC

Eric Trump and Donald Trump Jr. used a CNBC interview this week to renew their public support for Bitcoin, calling it the defining asset class for a new generation and predicting a major price expansion ahead.

Speaking during a wide-ranging discussion that touched on stablecoins and broader cryptocurrency adoption during the World Liberty Forum, Eric Trump said he remains “a huge proponent of Bitcoin” and argued the asset could eventually reach $1 million. 

He pointed to Bitcoin’s long-term performance, touching on its recovery from lows near $16,000 two years ago and claiming it has delivered strong average annual gains over the past decade.

Trump framed volatility as a natural feature of an emerging asset with significant upside, contrasting BTC with lower-yielding traditional investments such as municipal bonds or U.S. Treasuries. 

“I’ve never been more bullish on bitcoin in my life,” Trump said. 

The Trump sons also highlighted what they see as accelerating institutional acceptance. Eric Trump cited major financial firms including Fidelity, Charles Schwab, JPMorgan, BlackRock, and Goldman Sachs as examples of Wall Street’s increasing engagement with digital assets.

He claimed private wealth clients are being allocated higher percentages of crypto exposure than in past years, positioning Bitcoin as an investment theme for people under 50.

Goldman Sachs CEO owns bitcoin

The comments came as traditional finance leaders signaled a cautious shift in tone. Goldman Sachs Chief Executive Officer David Solomon disclosed that he now holds a small amount of BTC, speaking at the World Liberty Forum held at Mar-a-Lago in Florida. 

Solomon described his holdings as “very, very limited” and said he is not a “great Bitcoin prognosticator,” casting himself as more of an observer than an advocate. 

His remarks reflect the growing proximity between established financial institutions and the crypto sector after years of regulatory constraints that kept firms like Goldman largely on the sidelines.

Solomon has previously expressed skepticism about BTC’s practical role. In a 2024 CNBC interview, he characterized the asset as speculative and questioned its real-world use case, while acknowledging its volatility and investor interest.

Coinbase Chief Executive Officer Brian Armstrong also addressed Bitcoin’s recent price weakness during his appearance at the forum. Armstrong said the latest decline appears driven more by market psychology than by underlying fundamentals.

He dismissed speculation that macro political factors were behind the move and argued that volatility remains part of crypto’s normal cycle. 

Armstrong maintained that BTC remains one of the best-performing assets of the past decade and said Coinbase does not take a short-term view of price swings.

Armstrong also pointed to the policy environment in Washington, suggesting crypto legislation could advance under President Donald Trump’s administration. 

He described a potential “win-win-win” outcome for the industry, banks, and consumers if regulatory clarity is achieved, adding that proposed measures could reach Trump’s desk within months.

Yesterday, Armstrong said the company expects a market structure bill to pass and argued that statutory clarity would provide long-term certainty beyond shifting leadership at agencies like the SEC. 

If legislation stalls, he said Coinbase would continue operating under existing rules while seeking clarity through regulators or the courts.

“I think the bill will get done,” Armstrong said. “It’s in everyone’s interest at this point.” 

BTC is trading at $66,800 today, with $33 billion in 24-hour volume. The asset is down 1% over the past day as price action remains tight inside its weekly range.

BTC is sitting about 2% below its 7-day high of $68,328 and essentially flat from its 7-day low of $66,834, signaling continued consolidation rather than a decisive breakout.

Bitcoin’s circulating supply stands at 19,991,396 BTC, against a fixed maximum of 21 million. The total market capitalization is now roughly $1.34 trillion, down 1% from the previous day.

This post Trump Sons Tout a $1 Million Bitcoin Price as Goldman CEO Says He Owns BTC first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Miles Suter: Cash App Now Offers Best Bitcoin Pricing, Higher Withdrawals for Users

Cash App, the popular digital wallet and payments app, announced a series of changes to its Bitcoin offering, including a massive increase in withdrawal limits, lower fees, new funding rails, and lots more in an exclusive interview with Miles Suter, Product Lead at Block Inc. 

“Our mission is to make living on bitcoin simple and practical,” Suter told Bitcoin Magazine. The company, which today serves over 58 million active users, recently announced a deep set of upgrades to the app, further integrating Bitcoin into the user experience while improving quality of life for Bitcoiners on the app, and unlocking further functionality. 

The most awaited and noteworthy update is likely the expansion of the withdrawal limits, which were raised to 10,000 a day from 2,000 and 25,000 a week from 5,000 for eligible customers. This update was rolled out by default to the vast majority of users, who should have access to it now. Suter also mentioned that those who do not see the withdrawal limit expansion can reach out to him or support for further review of eligibility.  

However, a lot more changed under the hood. Fees and clearing prices also improved with “no spreads” on pricing, according to Suter, one of many user experience updates that may lead the charge across the industry in terms of interface design. 

Spreads are gaps in the price of an asset like Bitcoin, depending on whether you are buying or selling. Usually, they are the result of order books that match buyers and sellers on a list sorted by exchange rate. A small spread between the most anyone is willing to pay for some bitcoin and the least anyone is willing to accept for theirs, is normal in most exchanges. But it can also be confusing and appear like inconsistent pricing. Many exchanges hide a small commission in this spread, as they look for low-friction profits. Cash App appears to be eliminating this from the user experience, in turn giving users a single price point for both sides of the market. 

This pricing update, alongside the 0% fees, might make Cash App the most cost-effective way to buy and sell Bitcoin within the United States. Suter goes as far as to say Cash App now has the “best price in the world” for purchases over 2,000 dollars. 

Funding Rails and Stablecoins

Funding rails also got an expansion in this update. Historically, Cash App was built to work with debit cards, a strategy that likely unlocked fast retail adoption but came with various funding limits. Suter was excited to share that new funding rails have been added to Cash App, including ACH, which unlocks deposits as high as 10,000, and also integrated wires for large purchases. As such, this is more than a quality of life upgrade for Bitcoiners inside Cash App, it is a historic milestone for the company, which has been servicing retail and small to medium merchants since 2013. 

When asked about Cash App’s relationships with banks, an area of the Bitcoin industry that many companies and users still struggle with, even during the friendly Trump administration, Suter said that users should have no issue sending and withdrawing from Cash App to U.S. banks. Suter explained that banks are very conservative and hyper-focused on preventing fraud, an understandable business choice for them, but one that highlights “the brittle nature of our current system, where everything is permissioned,” and a clear example of “why we believe having zero intermediaries in Bitcoin is very important.”

Putting a finer point on the topic of funding rails, Suter also expressed interest in stablecoin integration, though no timelines were given on the release date of this particular feature. He was also very clear about how stablecoins would be integrated into the app and that users would not be exposed to a myriad of choices in terms of blockchains or ticker name denominations. Instead, all values would be presented as dollars, and all major stablecoin blockchains would be supported in the background. This implies that fees paid in blockchain’s native token will not be shown to users, removing a long-standing pain point that the broader industry has failed to address. Included in this stablecoin integration discussion was the mention of dollars on top of Bitcoin’s Lightning Network, though no details were discussed. 

2026 Road Map 

Looking ahead for the year as we enter 2026 at full speed, Suter expressed a clear vision to further integrate Bitcoin into Cash App, making it available in seamless ways to its large userbase, “we want Bitcoin to be a foundational currency within Cash App. So you can live your life on Bitcoin.”

In order to achieve that, Cash App is laying the groundwork to make not just accepting Bitcoin but paying with Bitcoin completely automated. That means any store using Square payment terminals should be able to accept bitcoin via Lightning payments, using the same QR codes and payment flow as with fiat. While any Cash App user should be able to pay lightning invoices by scanning QR codes, even if they don’t have bitcoin on their account. That’s right, automated conversion of USD to BTC, and BTC to USD at checkout, so that everyone can pay how they want and receive the currency they choose. In Suter’s words, “we want all customers and users to be able to receive and send bitcoin without needing to know about it or hold it.” 

This approach solves a few friction points that have held back the payments use case of Bitcoin since its inception. On the one hand, if users are not holding bitcoin when they spend, there’s no tax event, Cash App does the conversion on behalf of the merchant, so the sender has no bitcoin sale tax event. Suter did not go into details but mentioned this particular issue as an important piece of the puzzle, saying that “Block Inc will pay the lightning invoice on your behalf. No tax liability, no price fluctuation”. 

On the other hand, merchants who choose to accept bitcoin as payment are likely to get it more often, as anyone using Cash App will effectively have it to pay with. If a merchant, for example, decides to only accept Bitcoin as payment, all Cash App users will be able to purchase from them, even if they don’t have Bitcoin on their account. Merchants may also give discounts on purchases with Bitcoin, something customers will be able to benefit from by using Cash App without having to hold any Bitcoin.

This whole design may introduce millions of Americans to Bitcoin who otherwise are not really familiar with it, “there’s moms out there who have never used bitcoin,” Suter noted, “I want to make it so every Cash App user has a lightning URL that matches their Cash App username”. 

On the active Bitcoiner side of the market, Suter commented briefly on the growing market for Bitcoin-backed loans, saying that the company is actively “exploring” and “engaging customers online” on the use case, and “customers want it”. The company is exploring various ways of offering Bitcoin collateralized loans, including perhaps a line of credit, though details remain scarce. Suter highlighted this use case as an important financial tool for Bitcoiners to “live on bitcoin”, thus aligning with the company’s vision. While no more was said on the topic, Suter did casually add that an announcement was coming for Bitcoin Vegas in May.

This post Miles Suter: Cash App Now Offers Best Bitcoin Pricing, Higher Withdrawals for Users first appeared on Bitcoin Magazine and is written by Juan Galt.

Bitcoin Magazine

Bitcoin Price Holds Near $67,000 as Market Forces Push in Opposing Directions

The Bitcoin price remains in a narrow but pivotal trading range near $67,000–$68,000, with the market wrestling between sustained consolidation, escalating downside risk, and thematic narratives from technical and fundamentals that frame the near term. 

Current live data tracking from Bitcoin Magazine Pro shows the Bitcoin price trading below $68,000, with slight declines over the last 24 hours reflecting a lack of dominant drivers in either direction.

“Macro news has been closely correlated with crypto’s risk profile the last 12 months,” said Paul Howard, senior director at market maker Wincent, according to Bloomberg. 

Howard said Bitcoin may enter a consolidation phase as it looks for new catalysts to shape market sentiment. He noted that a U.S. Supreme Court decision on tariffs expected Friday could have a bigger impact than the Fed’s meeting minutes or upcoming inflation data.

The asset has held between roughly $65,100 and $72,000 following a Feb. 5 selloff that pushed prices to their lowest point since October 2024. While volatility has eased from the sharp decline earlier this month, the market has yet to show a decisive breakout in either direction.

Bitcoin price analysis 

Bitcoin’s price action has been semi-muted over the last week, with a bounce from a bitcoin price of $60,000 failing to break resistance at $71,800 and instead dipping to support near $65,650 before closing around $67,000. 

Bears remain in control as buyers have shown little follow-through, and a daily close below $65,650 could open the door to $63,000 and potentially the key Fibonacci level near $57,800. 

On the upside, bulls would need to reclaim $71,800 to target $74,500 and higher resistance around $79,000. For now, the bias stays bearish, with the bitcoin price likely ranging between the low $60,000s and the mid-$70,000s unless support levels fail.

But some big institutions are continuing to buy into bitcoin exposure.

Abu Dhabi’s Mubadala Investment Company increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) to 12.7 million shares worth about $630 million as of Dec. 31, up 46% from the prior quarter.

Al Warda Investments also raised its IBIT holdings to 8.22 million shares, continuing its move into regulated bitcoin ETF exposure.

Together, the two Abu Dhabi funds held more than 20 million IBIT shares valued at over $1.1 billion at year-end 2025.

Strategy bought another 2,486 BTC for $168.4 million last week, bringing its total holdings to 717,131 BTC accumulated at an average price of $76,027. 

With the bitcoin price trading near $68,000, the company is sitting on an unrealized loss of roughly $5.7 billion but continues to frame its aggressive accumulation as a long-term treasury strategy.

This post Bitcoin Price Holds Near $67,000 as Market Forces Push in Opposing Directions first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Milo Tops $100 Million in Crypto Mortgages, Record $12 Million Home Loan

Milo, a Miami-based financial technology firm focused on crypto-backed lending, announced it has originated more than $100 million in crypto mortgages, marking a milestone in the use of digital assets as collateral for home financing and purchasing.

The company said the total includes its largest single transaction to date, a $12 million crypto mortgage, as demand grows among institutional and high net worth borrowers seeking alternatives to traditional mortgage structures.

Milo’s crypto mortgage product allows clients to pledge Bitcoin to secure financing for home purchases without selling their holdings. The company said it offers up to 100% financing with loan amounts up to $25 million, removing the need for cash down payments and avoiding taxable events that can come with liquidating crypto assets.

Chief Executive Officer Josip Rupena said the milestone reflects broader adoption of crypto-based financing.

“Crossing $100 million in originations demonstrates the maturity and stability of our lending infrastructure,” Rupena said. “We’ve moved beyond proving the concept. Now we’re proving the execution.”

Milo said its mortgage portfolio has not experienced any margin calls, and that its interest rates average around 7%. The firm attributed its underwriting approach to AI-driven servicing and real-time collateral monitoring, which it said allows for faster risk assessment compared with traditional lenders.

Milo’s self-custody mortgages

The company also highlighted a self-custody mortgage option, which lets borrowers maintain control of their Bitcoin while still qualifying for financing. In its standard crypto mortgage structure, Milo said client collateral is held through custodians Coinbase and BitGo.

Adam Back, CEO of Blockstream, said crypto-backed mortgages could expand real-world financial use cases for Bitcoin holders.

“While Bitcoin continues to appreciate, buyers are able to build equity in real estate and don’t have to sell their long term conviction,” Back said.

Beyond mortgages, Milo said its crypto loan business also expanded sharply, with its loan book quadrupling in 2025. 

The firm offers crypto-backed loans starting at 8.25% interest, which it said clients have used for purchases including additional Bitcoin, land acquisitions, home renovations, and business investments.

Back in 2022, Milo began developing what it now calls the first U.S. bitcoin mortgage, allowing buyers to use their BTC holdings as collateral to purchase property without selling for a down payment. 

The company said the 30-year product can finance 100% of a home purchase, with CEO Josip Rupena and Miami Mayor Francis Suarez framing it as a way for bitcoin holders to qualify for mortgages while keeping exposure to BTC’s upside.

Milo operates as a licensed lender and said it is SOC 2 audited, positioning its products within regulatory oversight as crypto lending continues to develop in the U.S. financial market.

This post Milo Tops $100 Million in Crypto Mortgages, Record $12 Million Home Loan first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Peter Thiel went to zero in ETHZilla, and the ETH treasury company trade just got a lot more real

On Feb. 17, an amended 13G/A posted to ETHZilla’s investor site listed Peter Thiel and Founders Fund-related vehicles at zero shares and 0.0% beneficial ownership.

The filing also stamped a “date of event” of Dec. 31, 2025, which sets the timing frame for what the document captures, a beneficial ownership snapshot that arrives on a compliance clock.

Bloomberg is reporting that Thiel and his Founders Fund have, in fact, fully exited the company, completing a simple arc that has been building for months.

Back in August 2025, the Palantir founder was a significant stakeholder. A Schedule 13D filing reported 11,592,241 shares and 7.5% beneficial ownership, with an event date of Aug. 4. The position then shrank. An amendment filed Nov. 14, reported 928,389 shares and 5.6% as of Sept. 30.

That sequence becomes more compelling when you remember what ETHZilla set out to represent: a public-market attempt to bottle the Strategy (formerly MicroStrategy) playbook and pour it over Ethereum, with a Nasdaq ticker and a treasury story aimed at investors who prefer brokerages to wallets.

The filing that turns the rumor into a number

The Feb. 17 amendment is the crispest version of “fully exited” that public markets ever hand you, but it seems the shareholders had already priced this in after Thiel's 2025 sales. Since August last year, ETHZ shares have declined by 95%, from around $74 to just over $3.50.

The company was clearly under pressure from more than insider selling. In a Jan. 2026 8-K, ETHZilla reported selling 3,965.83 ETH for $12.58 million at an average price of $3,173.67, and it disclosed a remaining balance of roughly 65,850 ETH. A month earlier, there was a much larger sale, about $74.5 million in ETH, tied to debt pressure and a step back from the pure treasury posture.

In a Feb. 2026 8-K, the company disclosed it redeemed all outstanding senior secured convertible notes, paying $516.148 million in principal and $87.745 million as a redemption premium, plus interest.

That is the sound of expensive capital in a market that has started pricing treasury-company structures with less patience.

All of this lands inside a wider story that has been forming across the category.

Crypto-treasury firms have been leaning on buybacks and leverage as equity prices sag, and that broader context gives Thiel’s “0.0%” a different kind of gravity.

The macro problem, carry looks thin and financing looks costly

A treasury strategy always ends up living inside the macro. In the easy phase of this trade, the equity trades at a premium to the underlying crypto, financing becomes the fuel, and the loop feeds itself. ETH has an extra layer here, because staking yield and derivatives carry become inputs in the spreadsheet.

Right now, those inputs read as modest cushions.

Public dashboards tracking ETH futures basis show annualized carry in the low single digits across maturities. Staking yield benchmarks sit in the same neighborhood, with one index around 2.8% annualized.

When the carry is thin, management decisions matter more. ETH sales matter more. Debt terms matter more. Equity issuance terms matter more. And the market starts treating the ticker as a judgment on execution rather than a simple proxy.

Treasury-company trades ultimately rest on the belief that a public wrapper can hold a volatile asset and remain stable when the market shifts. Thiel's exit does not explain the why, yet it does plant a flag at the end of a timeline.

Three paths from here, and the numbers that will tell you which one you are in

It helps to name the forks in the road and attach each fork to a small set of observable signals.

1. One path is a premium loop reopening. ETH stabilizes, risk appetite returns, and treasury companies regain room to finance growth without shrinking the core pile. The tells show up in the filings, fewer treasury reductions, cleaner raises, and a market willing to pay for exposure again.
2. A second path is a discount trap. The equity trades as a chronic discount to the underlying holdings, and the company funds operations, acquisitions, and debt service by selling part of the pile. That version moves slowly, and it shows up as a steady drip of “treasury update” math.
3. A third path is a reflexive unwind. A sharp ETH drawdown meets tight financing conditions, forced sales accelerate, and the equity starts behaving like a stress gauge. That version gets loud in headlines, and it usually leaves fingerprints in short windows of repeated balance sheet actions.

We can also use a simple numeric frame to keep the focus on reality. ETHZilla disclosed roughly 65,850 ETH remaining in its Jan. 2026 8-K. A prior disclosure trail noted 19,301,223 shares outstanding, and that share count gives us a rough way to translate ETH value into “per share” intuition.

At $2,000 ETH, 65,850 ETH comes to about $131.7 million of ETH value. Spread across 19.3 million shares, that lands around $6.80 per share in ETH value before cash, liabilities, operating burn, and other balance sheet items enter the picture.

At $1,500 ETH, the rough figure sits closer to $5.10. At $3,000 ETH, it rises to around $10.20. The point here is the sensitivity, small moves in ETH and small changes in financing terms can swing the story fast.

What to watch next, the filing breadcrumbs that keep this from becoming a one-day meme

Start with the ETH balance. The next time ETHZilla updates that number in an 8-K or a periodic report, direction matters, and magnitude matters.

Then watch the capital structure. The debt redemption disclosed in the Feb. 2026 8-K came with a large premium, and any replacement financing, equity issuance, or new structured instrument will tell you what kind of market access the company still has.

Then watch the strategy surface area. The more the company leans into adjacent bets and broader asset themes, the more the ticker becomes a view on management’s ability to keep a coherent story under pressure. That tension shows up in the company’s own prospectus language around shares and selling stockholders.

Finally, keep the macro dials in view, because they set the ceiling on how easy this trade can get. The futures basis curve and staking yield levels are not side trivia, they feed directly into how treasury-company strategies look on paper and how they feel in a drawdown.

A lot of crypto narratives end in vibes. This one ends in a line item, and the line item reads 0.0%. Thield's conviction in this Ethereum treasury vehicle was short-lived, so the question becomes – what does he know that other Ethereum investors don't? Was it poor investor relations with ETHZilla or a more broader issue with the business model?

The post Peter Thiel dumps all ETH treasury shares after “Ethereum’s MicroStrategy” fell 95% since August appeared first on CryptoSlate.

Bitcoin's ongoing price struggles is turning into a market defined less by “bad news” and more by mechanics, the kind that can keep a downtrend alive even when selling looks tired.

According to CryptoSlate's data, the BTC price is down approximately 46% from the record high near $126,000 set in early October 2025 and trading around $67,470 as of press time.

Glassnode has described the post-October market as a three-stage unwind where BTC experienced a rapid decline toward its “True Market Mean” of $79,200, consolidation through late January, and a decisive breakdown that accelerated the move toward the $60,000 area.

Related Reading

Bitcoin hit $60,000 because two different groups finally surrendered — on-chain data shows who blinked

November’s $80,000 surrender set up February’s $60,000 break.

Feb 15, 2026 · Andjela Radmilac

In light of this, a large share of BTC's recent buyers are underwater, and their break-even levels are starting to behave like a ceiling.

In a market built on leverage, momentum, and reflexive flows, that ceiling can matter as much as a macro headline. When price rises back toward the cost basis of underwater holders, many sell to exit whole, turning bounces into supply events.

Break-even walls, short-term holders are underwater

CryptoQuant’s realized price UTXO age bands indicate that BTC's price has moved below the short-term holder realized price bands.

This technical way of saying that many short-term participants are underwater, and that recent downside has been driven largely by distribution from this cohort.

Glassnode has described the same dynamic from a different angle, noting that short-term holder profitability “remains negative.” The implication is not only that newer entrants are incurring losses, but also that their capacity to absorb additional volatility is reduced.

As a result, these holders have become reactive, selling at the first sign of strength to limit losses.

That behavior is what turns a bounce into a fade. It also makes the market feel heavy even when the tape improves for a day.

Essentially, the supply is not only coming from panic sellers hitting bids but also from trapped holders waiting for the price to come back.

Related Reading

Bitcoin short term holders are panic selling at a loss but was this capitulation or just a leverage reset?

Instead of guessing where the bottom is, watch whether liquidity returns when volatility is still elevated.

Feb 8, 2026 · Andjela Radmilac

Long-term holders show strain, SOPR slips, and Binance inflows rise

The more consequential shift is that stress is beginning to manifest beyond short-term participants.

One of the cleaner on-chain stress gauges is SOPR (spent output profit ratio), which tracks whether coins moved on-chain are being realized at a profit (above 1) or a loss (below 1).

For long-term holders, SOPR applies the same concept to older coins, typically those held for more than 155 days.

CryptoQuant data indicate that the long-term holder SOPR has moved into negative territory.

While the annual average LTH SOPR remains elevated at 1.87, the indicator has fallen below the key threshold of 1 to 0.88, a configuration not seen since the end of the 2023 bear market.

On average, this implies that long-term holders are now realizing losses on sales, a gradual buildup of financial stress within a cohort that is usually treated as the market’s stabilizing base.

This is not a classic “everyone capitulates” signal by itself. Long-term holders are not a monolith, and coins can move for reasons unrelated to directional fear.

Still, losses realized from older supply changes alter the character of a drawdown. It suggests that sell pressure is not coming only from late entrants who chased the top and are now trying to exit.

CryptoQuant flags another behavior shift that makes the signal harder to ignore.

Despite the rising share of realized losses, long-term holders have increased their inflows to Binance in recent weeks.

Binance is one of the deepest liquidity venues in the market. When large holders want optionality, whether to sell, hedge, or restructure exposure, they tend to move coins to the venue that can handle size.

In that context, rising long-term holder inflows can be interpreted as intensifying sell-side pressure, even if it has not yet manifested as a single liquidation day.

Big buyers are still active, but short-term demand is losing momentum

Even in this setup, BTC buying activity has not disappeared.

However, the on-chain data indicate a market split between steady accumulators and a short-term cohort that is losing momentum.

Strategy, formerly MicroStrategy, reported that it added 2,486 Bitcoin between Feb. 9 and Feb. 16, bringing its holdings to more than 717,000 BTC.

The significance of this purchase lies not in the headline alone, but in the type of demand it represents.

It represents spot buying from a visible institutional holder and creates a bid that traders can factor into their expectations, even if they disagree on how long it will persist.

CryptoQuant data indicate a similar pattern among whales, who have increased their holdings even as their exchange inflows rise.

According to the firm, the whale-held BTC supply increased by 200,000 BTC over the past month to more than 3.1 million BTC.

The last time a move of this size appeared in the market was during the April 2025 correction, a period when large-holder buying likely helped absorb selling pressure and supported the rally that carried Bitcoin from $76,000 to $126,000.

However, this accumulation is unfolding as short-term demand for BTC cools.

Alphractal data show short-term holders are not adding BTC at the same pace as they were 90 days ago.

The firm reported that the short-term holder net position change over 90 days remains positive but has been declining rapidly in recent days.

While that means short-term holders are still accumulating, they are doing so more slowly than in previous periods.

This dynamic often precedes consolidation, increased volatility, or a regime shift, as the cohort most likely to chase upside becomes less aggressive.

What would confirm stabilization, and what would signal deeper downside

Put together, the most defensible read of the current convergence is that Bitcoin is stuck between a break-even wall above and a structural cost floor below.

The wall is formed by short-term underwater holders, as shown by CryptoQuant’s realized price bands, and by overhead supply clusters that convert rallies into sell zones.

Thus, BTC's next move hinges on whether liquidity conditions and cohort behavior begin to shift, rather than on whether a single whale buy prints.

If Bitcoin can reclaim the short-term holder realized price bands and sustain trade above them, it would reduce the incentive for trapped sellers to unload into every rally.

It would also suggest that the market is rebuilding a base, in which new supply is being acquired at prices that do not immediately create overhead resistance.

However, if price fails to regain those short-term cost bands and long-term holders' stress continues to build, the drawdown risk becomes more self-reinforcing.

The combination would exert pressure on the market and could drive the price of the top cryptocurrency further downward.

The post Bitcoin whales added 200,000 BTC in a month — but short-term demand is fading at the same time appeared first on CryptoSlate.

XRP network health scorecard: wallets, trustlines, DEX volume, uptime

Key takeaways

• Ripple and Aviva Investors said Feb. 11 they intend to tokenize traditional fund structures onto the XRP Ledger “over 2026 and beyond.”
• Messari’s State of XRP Ledger Q4 2025 reported 425,400 total new addresses in Q4 2025 (down 4.9% QoQ) and average daily active addresses of about 49,000, alongside 1.83 million average daily transactions.
• XRPL’s consensus model centers on validator trust lists, and the network’s standard quorum requires 80% of trusted validators, meaning availability is part of any “payments rail” narrative.
• A “network health” view in 2026 needs explicit separation between payments, market activity (DEX throughput), and infrastructure health, especially when sources revise on-chain definitions over time.

Who this is for

• Long-term XRP holders tracking real usage rather than price-only narratives
• Swing traders monitoring on-chain participation and DEX throughput regimes
• Institutional and treasury readers evaluating tokenization rails and operational risk (see CryptoSlate coverage of XRPL tokenization activity)

What to watch this quarter

• Whether address formation keeps expanding alongside trustline activity, rather than diverging (internal reading: XRP wallet cohorts and on-chain participation)
• Whether DEX throughput stays elevated beyond event windows, and whether AMM activity holds up versus the native order book (context: DEX volume vs. venue structure)
• Validator availability assumptions tied to XRPL’s 80% quorum requirement (context: XRPL validation halts and outage risk)
• Pipeline milestones from the Aviva-Ripple tokenization effort, framed as delivery steps rather than live volume (context: tokenization market snapshot)

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What counts as XRPL usage (and what doesn’t)

XRPL’s “usage” claims often compress different behaviors into one line, even though the ledger’s health spans payments, exchange activity, and validator operations.

At the protocol level, XRPL relies on a Unique Node List, defined as “a server’s list of validators that it trusts not to collude.”

That trust surface ties directly to uptime risk.

XRPL documentation says the standard quorum requirement is 80% of trusted validators, and if more than 20% go offline, servers stop validating new ledgers.

For 2026 monitoring, validator liveness belongs in the same dashboard as wallets and exchange activity. Throughput without availability can fail the “rail” test when validation halts occur.

Payment volume vs. transactions, the metric that prevents bad conclusions

A network health view needs two separate payment measures: payment count and payment value. Transaction counts can move in ways that do not reflect economic settlement.

In Messari’s Q4 2025 report, payment-type transactions declined 8.1% QoQ to 909,000 in Q4 2025.

Active accounts and new accounts, adoption proxies (not users)

Messari reported 425,400 total new addresses on XRPL in Q4 2025. Wallet creation can be a capacity gauge. It is not a clean user count because entities can control many addresses, and automation can inflate account creation without broad participation.

Trustlines remain a second proxy for whether the asset graph is widening, but “trustlines outstanding” is not presented as a headline quarterly total.

Instead, the report provides a clean, comparable proxy for trustline activity: TrustSet transactions (the transaction type used to open/close trust lines) represented 0.7% of Q4 2025 transaction count share.

A practical 2026 read is to watch whether address formation and trustline-setting activity trend together across multiple quarters.

A split, such as addresses up while trustline-setting activity fades, can imply address formation without deeper asset connectivity.

DEX throughput and trustlines, interpreting on-chain market activity

XRPL’s DEX activity is a clean example of why dashboards must label metrics precisely.

Messari’s Q4 2025 report separates the native order book (CLOB) from AMM activity. Average daily CLOB volume of fungible issued currencies decreased 10.1% QoQ from $7.9 million to $7.1 million.

Average daily AMM volume decreased 24.9% QoQ, falling from $1.7 million in Q3 to $1.3 million in Q4. The series measures throughput rather than liquidity. Volume can surge without durable depth, and depth metrics require order-book or AMM-reserve measures.

For forward monitoring, two scenarios matter more than a single-quarter move.

• Persistence case: AMM and CLOB activity remain durable and trustline-setting activity holds up, aligning throughput with a wider on-ledger asset network.
• Reversion case: DEX throughput mean-reverts toward prior-quarter levels, reframing spikes as event-driven rather than structural.

Whale concentration, when distribution matters more than growth

A network health dashboard also needs a concentration lens. That is true even when it cannot yet publish a complete concentration table from stable sources.

Concentration can matter in three places that affect interpretation: XRP holdings across top accounts, DEX activity concentration across pairs or takers, and wallet creation that clusters around exchange or programmatic patterns.

The correct 2026 stance is methodological: treat concentration as an interpretation module that gets activated once a source with stable definitions is added, and avoid numeric claims in the interim.

Metrics dashboard template for 2026, plus chart callouts

Two institutional markers now frame the near-term narrative. On-chain metrics serve as the scorecard.

Ripple and Aviva Investors said their partnership reflects an intention to tokenize fund structures on XRPL, with work planned “over 2026 and beyond.”

That makes delivery milestones the relevant unit of measurement rather than immediate issuance volume.

Canary’s XRP fund launched in November 2025. For context, see CryptoSlate’s XRPC launch-day trading coverage.

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Macro runway context sets expectations for what “adoption” could mean.

McKinsey sized tokenized assets at about $2 trillion by 2030 in its base case, with a $1 trillion–$4 trillion scenario range, which excludes cryptocurrencies and stablecoins.

A separate Ripple and BCG forecast projected $18.9 trillion by 2033, listing barriers including fragmented infrastructure and uneven regulatory progress.

Payments modernization also runs on multi-year timelines. The BIS said the CPMI will maintain harmonized ISO 20022 data requirements until end-2027.

XRPL network health dashboard (starter table)

XRP monitoring routine

Action checklist, a quarterly routine

• Log one infrastructure assumption alongside usage metrics, anchored to XRPL’s 80% quorum rule and offline threshold.
• Track addresses and trustline-setting activity together, and treat single-quarter moves as incomplete without follow-through.
• Treat DEX volume as a regime indicator, then test persistence by comparing against prior quarters and CLOB vs AMM activity.
• Write ETF references with both the inception date and announcement publication date when using XRPC as an access proxy.
• Keep macro expectations bounded by scenario ranges, then measure share capture with on-chain proxies, using McKinsey’s $1 trillion–$4 trillion 2030 range as a planning envelope.

Related Reading

XRP Ledger resumes activity after second outage in three months

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Feb 5, 2025 · Oluwapelumi Adejumo

The post The metrics that matter for XRP network health and how to read them without counting noise appeared first on CryptoSlate.

An obscure Hong Kong firm has disclosed a $436 million position in BlackRock’s Bitcoin ETF, a revelation that is fueling speculation about Chinese capital flowing into crypto through offshore side doors.

Laurore Ltd, a previously unknown entity, reported the stake in BlackRock Inc.’s iShares Bitcoin Trust (IBIT) in a filing with the US Securities and Exchange Commission (SEC).

The disclosure serves as a rare, quantifiable signal that professional money managers in Asia’s financial hub are quietly building bridges to digital assets through regulated American investment vehicles.

The filing arrives at a complex juncture for the cryptocurrency market, with risk appetite cooling in the United States even as demand remains strong in jurisdictions where regulatory clarity is improving.

While the identity of the ultimate beneficial owners behind Laurore remains shielded, market observers suggest the structure bears the hallmarks of a sophisticated access vehicle designed to bypass capital controls or reputational risks.

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How big is the IBIT stake, and why does it matter

Laurore’s position is large enough to stand out on its own and structured in a way that makes it hard to ignore.

In a Form 13F for the quarter ended Dec. 31, 2025, Laurore reported owning 8,786,279 shares of IBIT, valued at about $436.2 million. The filing lists an address in Central, Hong Kong, and is signed by a director named Zhang Hui.

To put the holding in context, IBIT is one of the largest public-market gateways into BTC. As of Feb. 17, the fund reported net assets of about $51.5 billion and roughly 1.34 billion shares outstanding.

Laurore’s 8.79 million shares represent about 0.65% of the ETF’s total shares outstanding, a meaningful slice for a new filer, even though it remains below 1% of the overall product.

However, what made the disclosure stand out is not just its dollar value but also the filing’s opacity.

Jeff Park, chief investment officer of ProCap, noted that Laurore is a new entity with no website, no press coverage, and no digital footprint beyond the SEC filing.

Park described “Zhang Hui” as the Chinese equivalent of “John Smith,” calling it a “non-anonymous anonymous” name.

He also pointed to the “Ltd” suffix, which he said suggests a Cayman Islands or British Virgin Islands structure, the classic offshore wrapper for accessing US markets.

Meanwhile, he noted that the portfolio consisted solely of IBIT shares, with no other equities, technology stocks, or hedges.

This indicates an investment vehicle designed for a specific exposure rather than a broad US portfolio that happens to include a BTC allocation.

Moreover, Park tied that structure to a motive.

He said Chinese investors cannot legally hold Bitcoin directly and suggested that, if the filing reflects what he suspects, it could be an early sign of institutional Chinese capital moving into Bitcoin through a regulated US ETF rather than through exchanges or gray-market channels.

He described the setup as operating through what he called the most “transparent non-transparent” place imaginable.

That framing matters because spot BTC ETFs have become the most straightforward institutional wrapper for holding Bitcoin exposure.

For allocators that do not want to manage custody, exchange access, or internal crypto infrastructure, a large, liquid ETF can handle most of the operational burden.

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Other Hong Kong firms have disclosed a similar path

Laurore is not an isolated case, as it appears to be part of a broader pattern in which Hong Kong-based managers use US ETFs to gain exposure to BTC.

Avenir Tech Ltd, another filer based in Hong Kong, previously reported owning 14,766,760 shares of IBIT, a stake valued at approximately $691.2 million in a 13F filing for the quarter ended March 31, 2025.

At the same time, Yong Rong Asset Management Ltd, another Hong Kong-based firm, also has a limited exposure to the Bitcoin fund.

These filings are notable given that the region also has its own Bitcoin funds.

However, Bloomberg ETF analyst Eric Balchunas previously explained that US ETFs have become irresistible due to their combination of low fees and high volume.

Essentially, this increases the likelihood that more quiet vehicles will emerge as the ETF market continues to mature.

Why does Hong Kong keep appearing, even with China’s stance unchanged

Hong Kong’s role is central to the story because it offers a regulatory posture distinct from Beijing’s, while remaining close enough to mainland capital and networks to serve as a bridge.

Mainland China’s official stance on crypto trading remains restrictive, and authorities have repeatedly signaled that speculative activity is unwelcome.

Yet Hong Kong has spent the past two years positioning itself as a compliant, institution-friendly gateway for digital assets, including through a licensing regime and a push to expand market infrastructure.

Last year, Hong Kong eased certain virtual-asset rules to promote trading and liquidity, including allowing locally licensed platforms to share global order books with overseas affiliates.

The same policy push included tokenization pilots designed to bring “real-value” use cases on-chain, an approach presented as financial modernization rather than speculative crypto trading.

Beijing, meanwhile, has been more hostile towards the growth of the emerging industry.

Earlier this month, Chinese financial regulators extended the existing crypto ban to target stablecoin issuances and the tokenization of real-world assets.

According to the authorities:

“[We are] reiterating that virtual currencies do not have the same legal status as fiat currency, that conducting virtual currency-related business activities within China constitutes illegal financial activity, and that overseas entities and individuals are prohibited from illegally providing virtual currency-related services to domestic entities in any form.”

However, this effectively shows that China and Hong Kong's differing regulatory tracks can coexist.

Hong Kong can pursue regulated market development, and the mainland can maintain restrictions on direct crypto trading and asset tokenization.

In that landscape, a Hong Kong entity holding a US-listed BTC ETF can appear to be a structure that shifts the most politically sensitive elements away from the mainland, even if the exposure remains economically similar.

Meanwhile, that does not mean the capital is mainland institutional money.

However, it does mean that the architecture exists for capital from the mainland to express exposure while reducing operational friction and, potentially, reputational risk.

The post Is China using US Bitcoin ETFs as a backdoor? Mystery Hong Kong firm invested $436M in BlackRock’s IBIT appeared first on CryptoSlate.

Bitwise's February announcement arrived as two moves packaged as one. The crypto asset manager announced a partnership with Morpho to launch curated yield vaults and simultaneously acquired Chorus One's institutional staking business.

It looks like a deliberate assembly: curation mechanisms to filter protocol risk, infrastructure to deliver returns, and enough operational scaffolding to make the whole stack recognizable to allocators who think in basis points rather than memes.

That combination of yield products using DeFi rails wrapped in institutional controls is becoming a category of offerings that yield on tokenized products.

Assets such as tokenized Treasuries, money market funds, and permissioned lending protocols converge into structures that institutions can justify to compliance teams and boards.

BlackRock's BUIDL shares now trade on UniswapX via an allowlist.

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VanEck's tokenized Treasury fund serves as collateral inside Aave's institutional lending lane. UBS's tokenized money market fund functions as on-chain collateral through DigiFT and Secured Finance.

These aren't pilot programs designed to generate press releases. They're production integrations in which settlement occurs on-chain, but access, reporting, and counterparty vetting operate as in traditional finance.

The bet embedded in certified yield is straightforward: institutions will use DeFi infrastructure when the product resembles something they already understand. The controls align with their legal and operational frameworks.

What makes the bet interesting is that it's being tested simultaneously across three distinct archetypes, each solving a different friction point in the TradFi-to-DeFi handoff.

When Treasuries become DeFi collateral

The first archetype treats tokenized yield-bearing assets, primarily US Treasuries and money market funds, as raw material for DeFi credit and trading activity.

BlackRock's partnership with Securitize and UniswapX, announced Feb. 11, exemplifies the model. BUIDL, BlackRock's tokenized Treasury fund holding over $2 billion in assets, became tradable through UniswapX's request-for-quote system.

Participants must be allowed through Securitize, and market makers operate within allowlisted boundaries.

The design delivers DeFi's atomic settlement and composability without requiring institutions to interact with anonymous counterparties or rely on pseudonymous governance.

VanEck's integration with Aave Horizon extends the logic.

Aave built Horizon as a permissioned lending market where borrowers and collateral issuers undergo institutional vetting, while the supply side remains open. VanEck's VBILL, a tokenized Treasury product, serves as approved collateral.

The arrangement creates a use case that institutions recognize: secured financing against government debt, executed via smart contracts rather than repo desks.

WisdomTree's Jan. 28 expansion onto Solana adds a distribution angle. The asset manager's tokenized fund suite now operates on a blockchain explicitly chosen for speed and cost, with materials noting that institutional clients can deploy these positions inside DeFi applications.

UBS demonstrates how far the archetype extends. In early February, UBS Asset Management's tokenized money market fund, uMINT, began serving as collateral for Secured Finance, a DeFi protocol accessible through DigiFT's distribution layer.

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The structure allows institutions to borrow against tokenized cash equivalents in a non-custodial environment, using traditional secured funding mechanics, settled on-chain with smart contracts enforcing the terms rather than legal agreements and manual reconciliation.

Each example follows a pattern: yield-bearing TradFi assets migrate on-chain, not to be held passively, but to serve as productive collateral or tradable instruments within DeFi's credit and liquidity infrastructure.

Once that migration reaches scale, DeFi stops being an alternative market and becomes a parallel repo and secured-lending venue where Treasuries and money market funds generate spreads on DeFi-native borrowing demand.

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Permissioned lanes inside open protocols

The second archetype inverts the problem.

Instead of bringing TradFi assets into DeFi, protocols build institutional-grade lanes inside existing DeFi infrastructure.

Aave Horizon is the clearest expression. Launched in August 2025 and still expanding its partner roster, Horizon segregates borrowers and collateral issuers into a permissioned tier while leaving the supply side open to broader participation.

The initial collateral base included tokenized products from Superstate and Centrifuge, with Circle's USYC among the approved assets. The partner network spans Securitize, VanEck, WisdomTree, and other names institutions already recognize from capital markets.

The architecture answers the core objection institutions raise when evaluating DeFi: counterparty anonymity and governance uncertainty.

Horizon doesn't eliminate those risks, creating instead a walled garden where institutions interact only with vetted participants while still benefiting from DeFi's transparency, programmability, and settlement efficiency.

Sid Powell, CEO of Maple Finance, outlines the strategic rationale for permissioned structures:

“Institutions are not just chasing yield, they are looking for risk-aware structures, transparent mechanics, and operational reliability. Curated vault models help filter protocol risk, standardize exposure, and create clearer expectations around performance and security. That is much closer to how institutional portfolios are built.”

Banks meet DeFi when it looks like secured financing

The third archetype is the rarest but perhaps the most consequential.

Société Générale-Forge's interaction with MakerDAO, approved in August 2022 with drawdowns reported in early 2023, established a precedent: a major regulated bank accessing a DeFi credit protocol under legally structured terms.

SG-Forge described a MakerDAO-approved credit facility using SG-issued security tokens as collateral to borrow DAI. The transaction required legal engineering to make DeFi's pseudonymous governance compatible with a regulated institution's compliance posture, but it proved the concept works.

The significance lies not in the facility's size but in the proof of feasibility.

Regulated institutions will use DeFi credit markets when the transaction can be structured to resemble familiar secured funding arrangements and satisfy legal and operational requirements.

Why certified yield matters now

The timing of certified yield's emergence reflects two concurrent trends.

First, the on-chain representation of risk-free rates has become both observable and investable. RWA.xyz reports a distributed asset value of around $24.92 billion, up 13.86% over 30 days as of Feb. 17.

Tokenized US Treasuries alone account for roughly $10.9 billion of that total, with platforms displaying 7-day APYs that serve as real-time on-chain benchmarks.

DeFi yields are no longer compared against TradFi returns in the abstract, as they're measured against a tokenized T-bill curve with instant settlement.

Second, macro conditions reinforce the income pressure narrative.

Chicago Fed President Austan Goolsbee indicated in mid-February that several rate cuts in 2026 remain possible if inflation trends toward the Fed's 2% target. In easing cycles, allocators prioritize income preservation.

Certified yield products let institutions treat crypto rails as an income sleeve rather than a speculative position.

Powell's observations on client segmentation clarify the adoption curve. According to him:

“Interest is coming from several directions, but family offices and RIAs remain the most active in practice. They typically have more flexibility to explore new structures and move faster on allocations.”

He added that endowments and pensions are increasingly engaged in research and due diligence, especially as yield opportunities begin to resemble familiar fixed-income or alternative-income profiles.

The shift from speculative returns to portfolio construction marks a maturation point. Family offices and RIAs adopt early because they can move without committee approval.

Pensions and endowments enter after governance frameworks catch up and the products demonstrate track records.

Two paths, one destination

The apparent tension between centralized wrappers and direct DeFi integration may prove complementary. Powell sees both paths developing in parallel:

“Over time, the distinction may matter less than the user experience and risk controls delivered to clients. If DeFi integrations can meet institutional standards for transparency, governance, and reliability, partnerships become a natural evolution rather than an exception.”

The convergence is already visible. BlackRock's BUIDL integration with UniswapX combines direct DeFi settlement with institutional access controls.

Aave Horizon creates a permissioned DeFi-native lane. Tokenized money market fund collateral programs condition institutions to accept on-chain collateral mechanics even when the initial transaction happens off-exchange.

Each approach advances the same end state: income delivered on-chain with controls institutions can justify internally.

What institutional allocators are buying isn't exposure to DeFi as a concept. They're buying yield products that happen to settle on-chain, wrapped in the permissions, reporting standards, and risk boundaries they already trust.

The post TradFi is selling crypto income on Wall Street but a hidden switch decides who gets in appeared first on CryptoSlate.

Preparing for the crypto tax reporting season can be a daunting task for many investors, especially with the IRS introducing new regulations for 2026. As the tax deadline approaches, staying organized and understanding how your digital asset transactions are treated is crucial to avoid penalties and optimize your returns. Whether you are trading on centralized exchanges or interacting with complex DeFi protocols, a proactive approach to crypto tax prep will save you both time and money.

Essential Checklist for Crypto Tax Readiness

To ensure a smooth filing process, investors should focus on these five key areas:

1. Centralize Your Data: Gather transaction histories from all exchanges, wallets, and platforms.
2. Identify Taxable Events: Distinguish between capital gains (selling/swapping) and ordinary income (staking/mining).
3. Leverage Tax-Loss Harvesting: Sell underperforming assets to offset realized gains.
4. Track Cost Basis Accurately: Use the FIFO or Specific Identification method to determine profit.
5. Utilize Professional Software: Automate the calculation of complex trades and DeFi activity.

1. Centralize Your Transaction History

The biggest hurdle in crypto tax reporting is the fragmentation of data. Most investors use multiple platforms, and the IRS now requires brokers to report gross proceeds via Form 1099-DA for transactions starting in 2025 (filed in 2026). However, these forms may not always include your correct cost basis if you transferred assets from an external hardware wallet.

You must download CSV files or connect via API to every service you've used. This includes centralized exchanges like Coinbase or Kraken, as well as on-chain activity on $Ethereum, $Solana, or $Bitcoin. Keeping an updated record ensures you aren't paying more than you owe due to "missing" acquisition data.

2. Differentiate Between Capital Gains and Income

In the eyes of the Internal Revenue Service (IRS), not all crypto activity is taxed the same way. Understanding this distinction is vital:

• Capital Gains: Triggered when you sell crypto for fiat, swap one coin for another (e.g., $BTC to $ETH), or use crypto to purchase goods.
• Ordinary Income: Triggered when you receive crypto as a reward. This includes staking rewards, mining proceeds, airdrops, and payments for services.

Failing to report staking rewards as income upon receipt is a common mistake that can lead to audits. Ensure you are recording the fair market value of these tokens in USD at the exact time they entered your "dominion and control."

3. Implement Crypto Tax-Loss Harvesting

If you are sitting on "underwater" positions, you can use them to your advantage. Tax-loss harvesting involves selling assets at a loss to offset your capital gains. In the US, if your losses exceed your gains, you can even use up to $3,000 of those losses to offset your regular income.

Unlike stocks, the "wash sale rule" has historically been more flexible for crypto, though legislation like the CLARITY Act continues to be debated in Congress. Consult a professional or use our comprehensive USA crypto tax guide to see how you can legally minimize your liability.

4. Master Cost Basis Methods

When you sell a portion of your holdings—for example, selling 0.5 Ethereum after buying it at different price points over the year—you must decide which "lot" you are selling.

• FIFO (First-In, First-Out): The first coins you bought are the first ones sold.
• HIFO (Highest-In, First-Out): Selling the most expensive coins first to minimize gains.

Choosing the right method can significantly impact your tax bill. Consistency is key; once you choose a method for a tax year, you should generally stick with it across your entire portfolio to remain compliant.

5. Use Specialized Crypto Tax Software

Manually calculating taxes for hundreds of DeFi transactions or NFT flips is nearly impossible. Professional tools can sync with your wallets and automatically generate the necessary forms, such as Form 8949 and Schedule D.

These platforms also help bridge the gap when an exchange doesn't provide a 1099-DA or when you need to reconcile transfers between different crypto exchanges. Automating this process reduces human error and provides a clear audit trail.

2026 Crypto Tax Deadlines & Forms

The Ethereum ($ETH) market is currently at a critical crossroads as of February 18, 2026. After a turbulent start to the year that saw the ethereum price drop over 33% year-to-date, the second-largest cryptocurrency is tightly consolidating around the $2,000 psychological level. For traders and investors, this zone is a vital pivot point that will likely define the eth coin trend for the remainder of Q1 2026.

While institutional giants like Standard Chartered have recently adjusted their long-term ethereum price prediction targets downward to $4,000, the immediate focus remains on whether the current floor can withstand the mounting bearish pressure.

Is the Ethereum Price Bottoming Out?

Technical data indicates that eth coin is trading in a narrow, high-tension range between $1,930 and $2,050. While $2,000 acts as a magnet for price action, the failure to reclaim immediate resistance at $2,120 suggests that the bearish momentum remains dominant. For those monitoring eth coin news, the current consolidation phase provides a high-stakes entry point; however, a confirmed daily close below $1,900 could trigger a liquidation event toward $1,760.

Ethereum Coin Price: What's Happening to ETH Coin?

The current chart structure reflects a period of decreasing volatility following the sharp sell-off from $2,800 in January. As professional traders, several key technical markers on the Ethereum price chart demand attention.

1. Key Support and Resistance Zones

• Critical Support: $1,930 – This level represents the recent local low and a high-liquidity zone.
• Psychological Pivot: $2,000 – The current area of "fair value" where bulls and bears are deadlocked.
• Immediate Resistance: $2,120 – $2,180 – The 20-day EMA resides here, acting as a ceiling for relief rallies.

2. Moving Averages and RSI

Ethereum is currently trading significantly below its 200-day Moving Average, which is sloping downward, indicating a long-term bearish trend. The Relative Strength Index (RSI) is hovering near 34, signaling that the ethereum coin is approaching oversold conditions. Historically, an RSI this low often precedes a "dead cat bounce," but without a spike in buying volume, the trend remains fragile.

What is Market Consolidation?

In technical analysis, consolidation refers to an asset trading within a well-defined range after a significant move. For the ethereum price, this consolidation under $2,000 suggests that the market is indecisive. It is often a "calm before the storm," where the next breakout or breakdown is fueled by the energy built up during this sideways movement.

ETH Coin News: Institutional Shifts and Network Upgrades

The latest eth coin news highlights a divergence between price action and network growth. Despite the price struggles, Ethereum continues to dominate the stablecoin sector, processing over 50% of all on-chain dollar transactions.

"The market is currently pricing in macro uncertainty and ETF outflows, but the underlying utility of the Ethereum network as a settlement layer has never been stronger," states a recent Market Report.

Furthermore, anticipation is building for the Glamsterdam upgrade, which is expected to enhance Layer-2 scaling. However, short-term sentiment is dampened by the "Clarity Act" delays in the U.S. Senate, which has slowed institutional inflows into Ethereum spot ETFs.

Ethereum Price Prediction 2026: Bull vs. Bear Case

If Bitcoin ($BTC) fails to hold its critical $66,000 support, the ethereum price prediction for the next month turns decidedly bearish, with analysts eyeing a retest of the May 2025 lows near $1,760. Conversely, a "hidden bullish divergence" on the daily chart suggests that if ETH can reclaim $2,200, a rally toward $3,000 becomes a statistical possibility by mid-year.

Content Organization: How to Navigate this Market

For investors looking to navigate this volatility, a structured approach is necessary:

• Monitor the $1,930 level: A daily close below this is a major warning sign.
• Check Volume Spikes: A breakout above $2,100 must be accompanied by high volume to be valid.
• Use Reliable Platforms: Ensure you are using the best crypto exchanges for liquidity.
• Self-Custody: During high volatility, keep your ethereum coin safe using a hardware wallet.

A Waiting Game for ETH Holders

The ethereum price is currently trapped in a bearish structure, but the $2,000 level is providing a temporary cushion. While the long-term ethereum price prediction remains optimistic due to network upgrades and institutional adoption, the short-term reality is one of caution. Traders should stay alert to eth coin news regarding ETF flows, as these will likely be the primary driver for the next major price expansion.

The year 2026 has already carved a permanent place in Monero’s history, characterized by a parabolic rally that briefly silenced skeptics, followed by a sharp deleveraging event that tested the network's structural resilience. As of February 17, 2026, Monero (XMR) is navigating a complex landscape where technical "oversold" signals clash with mounting regulatory headwinds from major global jurisdictions.

Monero Price Action: The 2026 Rollercoaster

To understand where Monero is headed, we must analyze the two distinct phases that defined the first seven weeks of the year. The XMR/USD price started 2026 with an aggressive "privacy premium" rally, fueled by institutional interest in non-transparent liquidity.

The Rise: January’s Parabolic Surge

In mid-January 2026, Monero reached a historic milestone, printing a local top near $799.89. This 195% increase from early 2025 lows was driven by:

1. Political Tailwinds: Unexpected support from high-profile US policymakers who reframed privacy as a "constitutional right."
2. Macro Uncertainty: Global economic shifts led investors toward "financial autonomy" assets.
3. Technical Discovery: XMR entered a price discovery phase after clearing multi-year resistance levels.

The Fall: The February Regulatory Squeeze

The descent was as rapid as the ascent. By early February, $XMR had retraced over 57% of its gains. The primary catalysts for this "deleveraging cascade" included:

• Exchange Delistings: Major platforms, including Binance, accelerated the removal of privacy-focused pairs to comply with the EU’s MiCA framework and the US CLARITY Act.
• Profit Taking: After the $800 peak, massive "long" liquidations (totaling nearly $240,000 in a single 24-hour window) accelerated the downward momentum.
• Systemic Pressures: A broader cooling of institutional appetite, evidenced by significant outflows from Bitcoin ETFs, dragged the entire altcoin market lower.

Monero Coin Analysis: Identifying the Floor

The chart for XMR-USD currently shows a battle for survival at key Fibonacci retracement levels.

Currently, the Relative Strength Index (RSI) is hovering near 33.69, indicating that Monero is approaching oversold territory. While the price remains below its 50-day and 200-day Exponential Moving Averages (EMAs), the $300 zone has emerged as a critical "buy the dip" region for long-term holders.

Fundamental Outlook: Privacy vs. Compliance

Despite the price volatility, Monero’s on-chain activity remains remarkably stable. According to recent data from Chainalysis, while exchange liquidity has thinned due to delistings, the use of XMR in decentralized models and non-custodial swaps has reached new heights.

Upcoming Network Upgrades

The Monero community is preparing for several "hardening" upgrades later in 2026:

• FCMP++ (Full-Chain Membership Proofs): Aimed at mathematically increasing the anonymity set.
• Seraphis Implementation: A modernization of the address structure to improve wallet syncing and scalability.

These technological advancements suggest that while the "price kurs" may be under pressure, the network's utility as the gold standard for privacy remains unchallenged.

Monero Price Prediction 2026: What’s Next for XMR?

For the remainder of Q1 and Q2 2026, analysts anticipate a period of consolidation. If Monero can maintain a daily close above the $300 support, a re-test of the $450-$500 range is plausible by the second half of the year. However, a decisive break below $300 could open the doors for a return to the $230 "macro floor."

The "frog" is leaping once more. After weeks of horizontal trading that left many retail investors wondering if the hype had finally evaporated, PEPE delivered a massive 23% price surge over the past seven days. This explosive move was not an isolated event; it occurred in lockstep with Bitcoin’s triumphant return to the $70,000 level, highlighting PEPE’s status as a high-beta asset that amplifies market momentum.

The Real PEPE Recovery

Traders looking for confirmation of a trend reversal have found it in the recent volume spikes. The 23% rally wasn't just a "dead cat bounce"; it was supported by a 283% explosion in trading volume. As Bitcoin stabilizes near $70,000, liquidity is rotating back into high-risk memecoins, with PEPE leading the charge. This price action confirms that the asset remains the primary "Social Index" for the 2026 crypto market.

High-Beta Volatility and BTC Correlation

In the world of cryptocurrency trading, "high-beta" refers to assets that move more aggressively than the market leader.

When Bitcoin rises 5%, PEPE often jumps 15-20%.

Conversely, when Bitcoin dips, memecoins typically face steeper corrections. This relationship is why PEPE is often the first to "moon" during a market recovery, serving as a magnet for speculative capital.

Pepe Coin Price Analysis: Breaking the $0.0000036 Support

The recent surge was sparked by a successful defense of the $0.0000036 support zone. This level has become a fortress for "diamond-hand" holders.

Whale Accumulation and Short Squeezes

According to on-chain data from Santiment, the top 100 PEPE wallets accumulated approximately 23 trillion tokens during the recent consolidation. This institutional-grade buying at the "bottom" created a supply shock. When Bitcoin broke $70k, a massive wave of short positions was liquidated, "squeezing" the price up toward the $0.0000048 resistance level.

Key Price Levels to Watch

Based on the above chart structure:

• Immediate Resistance: $0.0000052. A breakout here could open the doors to $0.0000068.
• Macro Target: Analysts at major exchanges suggest that if the current "Meme Supercycle" continues, $PEPE could target $0.0000146 by late 2026.
• Support Floor: The $0.0000036 level remains the most critical area to hold to avoid a bearish trend continuation.

The 2026 Outlook: Is the Frog "Dead" or Just Resting?

The narrative that "PEPE is dead" has appeared multiple times since its inception. However, the data suggests otherwise. PEPE has transitioned from a simple internet joke into a functional pillar of the emerging Bitcoin Layer-2 (BTCFi) economy.

Why Memecoins Dominate Sentiment

While tokens with "utility" often struggle to explain their value proposition, PEPE's value is simple: attention. In a digital economy, attention is the most valuable currency. As long as PEPE maintains its 1.2 million+ unique holders and high social engagement, it will continue to outperform traditional altcoins during bullish phases.

Conclusion: A Selective Meme Season

The 2026 market is becoming more selective. While many "copycat" memes have faded into obscurity, PEPE’s deep liquidity and massive community give it a "too big to fail" status within its niche. The recent 23% surge is a clear signal that whenever Bitcoin breathes, the frog is ready to jump.

What Is CC Canton Token and Why Is It Rising So Fast?

The CC Canton token has quickly climbed into the Top 20 cryptocurrencies by market capitalization, overtaking established names such as $TON, $SUI, $XMR, $SHIB, $LTC, $HBAR, and $XLM. After launching in November 2025, CC has surged toward a $6 billion valuation in just a few months — a remarkable pace for a newly tradable token.

But what exactly is CC, and does it have the fundamentals to push toward the Top 10 next?

What Is the CC Canton Token?

CC is the native token of the Canton Network — a blockchain infrastructure project focused on institutional finance and regulated markets.

Unlike retail-focused smart contract chains, Canton positions itself as:

• A public blockchain with privacy controls
• Built for regulated financial institutions
• Designed for tokenized real-world assets (RWAs)
• Focused on selective disclosure and compliant composability

Its value proposition centers around bringing Wall Street infrastructure on-chain while preserving the privacy and regulatory constraints institutions require.

That narrative has gained serious traction in 2026 as capital rotates toward real-world asset tokenization and institutional blockchain adoption.

How Did CC Enter the Top 20 So Quickly?

CC launched publicly in November 2025. After an initial listing spike and sharp correction, the token formed a base near $0.06 before rallying nearly 3x toward the $0.18–$0.19 area.

With a circulating supply of roughly 37.7 billion tokens, price expansion rapidly pushed its market cap above $6 billion — enough to surpass several legacy altcoins.

The key drivers behind its rapid rise include:

• Strong institutional narrative positioning
• Fully circulating supply at launch
• Limited float relative to valuation
• Capital rotation into RWA and compliance-focused chains

However, trading volume remains relatively modest compared to its market cap, suggesting valuation expansion has not yet been fully stress-tested by heavy liquidity flows.

Can CC Canton Token Make It Into the Top 10?

To enter the Top 10, CC would likely need to surpass assets such as $LINK, $TON, or other multi-billion dollar incumbents.

For that to happen, several conditions must align:

1️⃣ Sustained Narrative Strength

The institutional adoption and tokenized securities theme must continue dominating crypto capital flows.

2️⃣ Visible Institutional Usage

Real transaction growth and confirmed financial partnerships would strengthen valuation justification.

3️⃣ Volume Expansion

A breakout above the current all-time high near $0.195 with rising volume would signal strong market conviction.

4️⃣ Stable Tokenomics

Clear unlock schedules and transparent allocation structure are critical to maintain investor confidence.

Without those elements, CC may consolidate within the Top 20 rather than accelerating further.

Technical Outlook: Breakout or Consolidation?

From a market structure perspective:

• Support zone: $0.14–$0.15
• Major support: $0.12
• Key resistance: $0.18–$0.195 (ATH zone)

A decisive break above the ATH could open momentum toward higher market cap tiers. Failure to expand with volume could result in extended sideways consolidation.

Is CC a New Institutional Infrastructure Play?

Unlike meme-driven rallies, CC’s rise appears more structured. The token’s price action shows:

1. Post-launch distribution
2. Accumulation phase
3. Gradual trend expansion
4. Controlled volatility

That pattern often reflects strategic positioning rather than speculative mania.

If Canton succeeds in becoming a backbone for regulated on-chain finance, its valuation could continue expanding structurally.

If adoption lags, the token may trade more in line with broader altcoin cycles.

Final Verdict: Early Top 10 Contender or Overextended Rally?

The CC Canton token has achieved in months what many projects take years to accomplish — entry into the Top 20.

Whether it breaks into the Top 10 will depend less on hype and more on real institutional usage, liquidity growth, and sustained capital rotation toward regulated blockchain infrastructure.

The coming months will determine whether CC becomes a foundational infrastructure asset — or remains a powerful but narrative-driven rally.

Billionaire investor Peter Thiel and Founders Fund held a 7.5% stake in Ethereum treasury company ETHZilla last year—but not anymore.

Ethereum layer-2 network Base is leaving behind the Optimism technology stack as it seeks faster upgrades and reduced overhead.

The first Sui ETFs are now trading as Canary and Grayscale bring staking-enabled crypto exposure to traditional markets.

The organization is led by industry veteran Jake Chervinsky and backed with $29 million worth of HYPE.

Goldman Sachs CEO David Solomon backed Treasury Secretary Bessent, who recently had harsh words for companies like Coinbase that said no crypto legislation is better “than a bad bill.”

Coinbase has officially launched a new lending facility allowing U.S. customers to borrow up to $100,000 in USDC against holdings in XRP, Dogecoin (DOGE), Cardano (ADA), and Litecoin (LTC).

Gold reclaims $5,000 as the Bitcoin-to-gold ratio drops to 13.46. On the other side, BTC's purchasing power is contracting amid the safe-haven narrative.

Dogecoin sell-off likely as sentiment among retail traders is waning, as shown by trading volume.

Alternative cryptocurrencies have suffered a 50% collapse in trading volumes.

Bloomberg's senior commodity strategist Mike McGlone suggests against buying Bitcoin, citing a $28,000 trading mode and its high correlation with the Nasdaq-100.

TLDR:

• Ethereum shipped Pectra and Fusaka in 2025, doubling blob throughput and enabling validator data sampling via PeerDAS. 
• The new Scale track merges L1 and blob scaling efforts, targeting gas limits beyond 100M under unified leadership. 
• The Improve UX track advances native account abstraction and cross-L2 interoperability as top priorities for 2026. 
• The new Harden the L1 track addresses post-quantum security, censorship resistance, and network testing infrastructure.

Ethereum Protocol has announced a major structural shift heading into 2026. The Ethereum Foundation’s Protocol team has reorganized its work into three core tracks: Scale, Improve UX, and Harden the L1.

This follows a productive 2025 that saw two major network upgrades shipped. The restructuring reflects a more mature approach to developing Ethereum’s infrastructure. It also sets a clear roadmap for the year ahead, covering scaling, usability, and network security.

Ethereum Protocol Reflects on a Productive 2025

Ethereum Protocol shipped two major upgrades in 2025: Pectra in May and Fusaka in December. Pectra introduced EIP-7702, allowing externally owned accounts to temporarily execute smart contract code.

This enabled transaction batching, gas sponsorship, and social recovery for users. Pectra also doubled blob throughput and raised the max effective validator balance to 2,048 ETH.

Fusaka brought PeerDAS to mainnet, changing how validators handle blob data. Instead of downloading full blob data, validators now sample it, cutting bandwidth requirements.

This change enabled an 8x increase in theoretical blob capacity. Two additional Blob Parameter Only forks shipped alongside Fusaka to begin ramping up blobs per block.

Beyond the two forks, the mainnet gas limit rose from 30M to 60M during 2025. This marked the first meaningful gas limit increase since 2021.

History expiry also removed pre-Merge data from full nodes, saving hundreds of gigabytes of disk space. On the UX side, the Open Intents Framework reached production and cross-chain address standards moved forward.

These milestones made 2025 one of the most active years at the Ethereum protocol level. With those deliverables behind it, the team saw an opportunity to restructure.

The new track model moves away from milestone-driven initiatives. It instead organizes work around longer-term goals.

Three Tracks Now Guide Ethereum Protocol’s Direction

The Scale track merges what were previously two separate efforts: Scale L1 and Scale Blobs. Led by Ansgar Dietrichs, Marius van der Wijden, and Raúl Kripalani, it targets gas limits beyond 100M.

The track also covers ePBS, zkEVM attester client development, and statelessness research. Blob scaling and execution scaling are treated as one connected effort.

The Improve UX track, led by Barnabé Monnot and Matt Garnett, focuses on account abstraction and interoperability. EIP-7701 and EIP-8141 are pushing smart account logic directly into the protocol.

Work here also connects to post-quantum readiness, since native account abstraction offers a natural path away from ECDSA. Cross-L2 interactions and faster confirmations remain central priorities.

The Harden the L1 track is entirely new and is led by Fredrik Svantes, Parithosh Jayanthi, and Thomas Thiery. Fredrik leads the Trillion Dollar Security Initiative, covering post-quantum hardening and trustless RPCs.

Thomas focuses on censorship resistance research, including FOCIL (EIP-7805) and measurable resistance metrics. Parithosh oversees devnets, testnets, and client interoperability testing infrastructure.

Glamsterdam is the next planned network upgrade, targeting the first half of 2026. Hegotá is expected to follow later in the year.

The post Ethereum Protocol Restructures Into Three Tracks to Drive Scaling and Security Goals in 2026 appeared first on Blockonomi.

TLDR:

• SUI is trading near $0.95, sitting just below Weekly Hypertrend resistance positioned around the $1.00 level. 
• The weekly RSI has entered oversold territory, with approximately 50% of the October 10 liquidation wick now filled. 
• Past weekly oversold signals for SUI led to expansions of 503% in October 2023 and 837% in August 2024 respectively. 
• The Genesis AVWAP near $2.00 defines long-term macro positioning, while reclaim and volume confirmation remain the key requirements.

SUI is drawing renewed attention from analysts as the asset trades near $0.95. The token sits just below a key Weekly Hypertrend level around $1.00.

Market observers note that the RSI has entered oversold territory on the weekly chart. Early momentum divergence signals are beginning to appear.

The broader macro structure remains upward sloping since genesis. Traders are now watching for confirmation before positioning.

Technical Levels Point to a Compressed Setup

SUI is currently trading just below the Weekly Hypertrend resistance near $1.00. This level has acted as a structural ceiling in recent price action.

The RSI entering oversold territory on the weekly timeframe adds weight to the current setup. Analysts are watching whether momentum divergence will develop into a confirmed reversal signal.

According to market commentary from eye zen hour, approximately 50% of the October 10 liquidation wick has now been filled. This kind of wick fill often reflects a controlled recovery in price structure.

On-balance volume, or OBV, remains a key indicator to monitor at this stage. A curl back above its moving average could support the case for trend continuation.

The Genesis AVWAP sits near the $2.00 level and continues to define long-term positioning for SUI. This anchored volume-weighted average price from genesis serves as a macro reference point.

Price remains well below that level, meaning there is room for expansion if structure confirms. Traders are treating the $2.00 area as a longer-term target, not an immediate one.

Eye zen hour noted in a recent post that the current phase is “setup phase, not breakout phase.” That framing keeps expectations grounded without dismissing the structure building beneath price.

Until a Weekly Hypertrend reclaim occurs with participation, the setup remains unconfirmed. This distinction is important for risk management at current levels.

Historical Oversold Signals Offer Raw Data for Context

SUI has produced weekly oversold readings before, and the outcomes were notable both times. The October 2023 oversold signal was followed by a price expansion of 503%.

The August 2024 signal led to an 837% move higher from the oversold condition. These figures are cited as raw historical data, not as forward projections.

Eye zen hour was clear in stating these are “not predictions, just raw data.” That framing separates observation from speculation, which matters in volatile markets.

Still, the historical context gives traders a framework for understanding how the asset has behaved. Pattern recognition remains one tool among many in technical analysis.

The macro structure for SUI since genesis continues to slope upward, according to the analysis. Momentum is currently stretched to the downside, and structure appears compressed.

These two conditions together often precede volatility expansion in either direction. Confirmation through reclaim and volume participation remains the key requirement before any directional bias is established.

The post What’s Next for SUI? $0.95 Weekly Oversold RSI Triggers Setup Phase appeared first on Blockonomi.

TLDR:

• Prediction markets show a 60% Republican Senate and 83% Democratic House probability in 2026 elections.
• The GENIUS Act, enacted in 2025, awaits full implementation within 12 to 24 months after the midterms.
• ERC20 stablecoin supply surpassed $150 billion in 2024, approaching highs last seen during the 2021 cycle.
•  A divided Congress points to gradual regulatory clarity, favoring steady capital inflows over sudden market shifts.

The 2026 U.S. midterm elections are drawing close attention from crypto markets worldwide. At the center of that attention is the GENIUS Act, a landmark stablecoin law enacted in 2025.

Prediction markets currently show a 60% probability of Republican Senate control and an 83% probability of Democratic House control.

That split points to a divided Congress as the most likely outcome. For crypto markets, this political structure could determine how quickly regulatory clarity translates into capital movement.

Why the Midterm Election Outcome Matters for Stablecoin Regulation

The 2026 midterms carry direct consequences for how the GENIUS Act moves toward full implementation. Enacted in 2025, the law established the first federal framework governing stablecoins in the United States.

Full implementation is expected to arrive within 12 to 24 months following the November 2026 elections. The political composition of Congress after that vote will influence how smoothly that process unfolds.

A divided Congress, the current base case, reduces the probability of sudden or sweeping regulatory reversals. Instead, markets can expect incremental policy progress as implementation details surface over time.

This gradual approach allows institutions and traders to adjust their positioning steadily. It also lowers the risk of abrupt disruption to existing market structures built around stablecoin liquidity.

“Regulation does not follow price—it reshapes the conditions under which price forms.” — XWIN Research Japan

Broader legislative efforts, such as the CLARITY Act, face a harder path under split congressional control. Without a unified legislative majority, comprehensive digital asset market reform may move slowly.

Crypto participants should therefore expect a multi-year regulatory window rather than a single decisive moment. Each phase of implementation will carry its own market repricing effect.

The midterms will not produce an overnight transformation in crypto markets. However, they will set the regulatory tempo for the following two years.

That tempo matters enormously for institutional capital planning cycles. A stable, predictable regulatory environment consistently attracts longer-term capital commitments into digital asset markets.

Stablecoin Supply Data Points to a Liquidity Cycle Already in Motion

On-chain data from CryptoQuant shows that the ERC20-based stablecoin supply has exceeded $150 billion as of 2024. That level approaches the historical highs last recorded during the 2021 market cycle.

Stablecoin supply functions as the most direct available measure of crypto market liquidity. When supply expands at this scale, it signals that capital is being staged ahead of broader risk allocation.

CryptoQuant data confirms total ERC20 stablecoin supply surpassed $150 billion in 2024, nearing all-time highs.

Historical market patterns show that stablecoin supply growth has consistently preceded major bull cycles. The current supply level suggests that liquidity is already structurally present across the market.

This condition holds even as short-term volatility continues to affect crypto asset prices. Markets have historically used such periods of elevated liquidity to absorb risk before moving higher.

The combination of the GENIUS Act’s regulatory timeline and current supply data creates a specific market setup. Liquidity appears to be accumulating well ahead of the formal regulatory catalyst the midterms may deliver.

If divided government produces gradual clarity as expected, markets could reprice steadily throughout the implementation window.

That measured repricing environment tends to support sustained capital inflows rather than short-lived speculative spikes.

Ultimately, the 2026 midterms may not reshape crypto markets through legislation alone. Their larger role may be confirming the regulatory environment under which the next liquidity cycle accelerates.

The stablecoin supply structure already suggests that a foundation is forming. The election outcome will determine how quickly that foundation translates into the next market phase.

The post How the 2026 U.S. Midterm Elections Could Reshape Crypto Markets appeared first on Blockonomi.

TLDR:

• Shielded Labs launched Partner Support Services to diversify funding beyond its existing donation-based revenue model. 
• The NEAR Foundation became the first partner, covering past work and ongoing technical and strategic Zcash support. 
• NEAR Intents has made it easier for users to acquire ZEC directly without depending on centralized crypto exchanges. 
• Shielded Labs is already in talks with additional teams exploring similar advisory and ecosystem coordination agreements.

Shielded Labs has introduced a new Partner Support and Advisory Services initiative to diversify its funding. The organization, which backs long-term Zcash development, previously relied solely on donations.

Under the new program, external teams building on or integrating with Zcash can engage Shielded Labs directly. Services include technical support, advisory work, and ecosystem coordination. The NEAR Foundation is the first confirmed partner under this arrangement.

Shielded Labs Expands Revenue Model Through Ecosystem Partnerships

Shielded Labs has structured the new initiative to serve teams working through integrations, network upgrades, and related development efforts.

The program also offers advisory input based on direct experience with the Zcash protocol, community, and governance process. This creates a clearer path for external teams to engage with Zcash more efficiently.

The initiative also aims to reduce friction for builders entering the Zcash ecosystem. Teams that previously had no formal channel to engage Shielded Labs now have a direct route.

This approach helps ensure that new integrations align naturally with the broader ecosystem’s direction and standards.

Partner Services does not replace Shielded Labs’ core technical mission. Rather, it runs alongside it as a supplementary revenue stream.

The organization stated that its primary focus remains building and supporting technology that strengthens Zcash over the long term.

Shielded Labs confirmed it is already in discussions with additional teams considering similar engagements. Organizations interested in exploring collaboration are encouraged to contact the team directly, according to the announcement.

NEAR Foundation Becomes First Partner Under the New Program

Shielded Labs and the NEAR Foundation have formalized an agreement that covers both past contributions and future work.

Early collaboration involved communications and awareness strategy around Zcash’s initial integration into NEAR Intents.

Shielded Labs also helped organize the NEAR Intents hackathon and provided similar coordination support for integrations with Rhea Finance and Templar Protocol.

NEAR Intents has been noted as a meaningful development for Zcash, making it easier for users to acquire ZEC without relying on centralized exchanges.

Wallet teams, including Zashi, have since brought NEAR Intents integrations into mobile applications independently. These developments expanded access to ZEC for a broader user base.

As part of the ongoing agreement, Shielded Labs will continue providing technical, strategic, and ecosystem support to the NEAR Foundation.

This also covers teams building use cases around NEAR Intents. Stakeholder engagement, education, and coordination remain central components of the continued work.

On the technical side, Shielded Labs is exploring ways to simplify implementation for partners through targeted guidance and coordination.

Advisory input on security and privacy improvements is also part of the scope as new use cases around NEAR Intents continue to develop.

The post Shielded Labs Introduces Advisory Services to Support Teams Building on Zcash Network appeared first on Blockonomi.

TLDR

• Bitcoin whale holdings have increased by 3.4% over the past two months, reaching 3.1 million BTC.
• The surge in whale accumulation follows a sharp 7% drop in Bitcoin’s price before December 2025.
• Darkfrost notes that whale buying behavior typically occurs during market corrections, signaling future recovery.
• Despite a 46% decline from Bitcoin’s all-time high, whales view the current price as a favorable accumulation zone.
• Bitcoin faces continued selling pressure, with price fluctuations remaining between $66,615 and $68,434.

Bitcoin whales are increasing their holdings of the cryptocurrency, as price fluctuations continue. Data from CryptoQuant Analyst Darkfrost shows that whale Bitcoin accumulations have risen by 3.4% over the past two months. This uptick, following a significant drop in November 2025, suggests that large investors are taking advantage of current price levels. At present, Bitcoin’s price remains volatile, but whale activity indicates a strong belief in future growth.

Bitcoin Whale Accumulations Show Growth

Whale holdings of Bitcoin have seen a steady increase since mid-December 2025. According to CryptoQuant Analyst Darkfrost, these accumulations have gone up by 3.4%. The total amount of Bitcoin in whale wallets has reached 3.1 million BTC, a rise from 2.9 million BTC. Despite the volatile market conditions, Bitcoin whales are clearly acting on these price fluctuations.

The trend marks a significant rebound after a sharp decline in Bitcoin’s price. Prior to December, Bitcoin saw a 7% drop, leading to a temporary halt in whale accumulation. The increase in whale Bitcoin holdings now reflects a more confident outlook. Darkfrost notes that this behavior is usually seen during market corrections and that whales tend to accumulate when prices are lower.

The last recorded whale accumulation occurred in April 2025. At that time, the market had experienced a large correction, with Bitcoin’s price falling below $80,000. However, this accumulation helped fuel a recovery, pushing Bitcoin’s price from $76,000 to an all-time high above $126,000. The return of buying activity now, even with Bitcoin still down by 46% from its ATH, signals that whales see this as a favorable accumulation zone.

Darkfrost argues that Bitcoin price is currently undervalued, which has led to increased buying pressure from whales. He believes that these investors are positioning themselves for future gains once market conditions improve. However, he also pointed out that, despite the growing demand, market forces are still influencing prices in the short term.

Bitcoin Faces Continued Sell-Off Pressure

Despite the increased whale activity, Bitcoin continues to face selling pressure. Darkfrost highlighted that while demand for Bitcoin remains strong, sell-offs are still affecting the market. Bitcoin’s price has been fluctuating between $66,615 and $68,434 over the past 24 hours, indicating ongoing uncertainty. As the market consolidates, traders are keeping a close eye on the broader trend.

In the midst of this, firms like Michael Saylor’s Strategy Inc are continuing to show support for Bitcoin. While some experts point to a crypto winter, Saylor remains confident in Bitcoin’s long-term potential. The firm’s continued interest in Bitcoin reinforces the belief that the cryptocurrency will eventually overcome current price challenges.

At the time of writing, Bitcoin’s price was $67,469.58, reflecting a 0.44% drop in the last 24 hours. As the market remains volatile, it remains to be seen whether whale accumulation will continue to drive Bitcoin’s price upward.

The post Bitcoin Whales Show Confidence in Accumulating Despite Market Instability appeared first on Blockonomi.

Crypto funds opened 2026 with losses and defensive positioning, according to a February 18 survey by Presto Research and Otos Data.

The report shows investors shifting toward relative-value and market-neutral trades as macro uncertainty and price swings weigh on directional bets.

Market-Neutral Funds Outperform as Directional Strategies Sink

According to Presto’s survey, all liquid crypto hedge funds dipped by an average of 1.49% last month. The losses extended a difficult stretch for active managers, marking the fourth consecutive month of negative equally weighted performance across both fundamental and quantitative categories, a sequence not seen since late 2018 and early 2019.

The dispersion within the numbers tells a clearer story, with fundamental funds dropping 3.01% in January, while quantitative funds fell 3.51%. On the other hand, Presto revealed that market-neutral funds, which aim to profit from price differences rather than market direction, gained about 1.6%. Over six months, those same neutral strategies are up nearly 5% while fundamental funds are down more than 24%.

During that same period, Bitcoin (BTC) has fallen approximately 31%, Ethereum (ETH) 23%, and Solana (SOL) 47%.

Analysis by other market watchers supports the fragile tone, with data from Alphractal showing that Bitcoin was trading in a stress zone where weaker holders tend to sell while long-term investors accumulate. The firm’s founder, Joao Wedson, said long-term holder profit levels are still positive, a sign the market may not yet be at a final turning point.

Positioning Data Points to Defensive Posture, Not Panic

The Presto survey’s flow analysis shows a clear behavioral arc through January. The month opened with constructive positioning and call buying, but as rallies failed, traders rotated into tactical fade structures. By the third week, downside hedging became dominant, as ETF flows fluctuated, with periods of inflow offset by miner distribution and whale selling. Meanwhile, corporate accumulation remained present but insufficient to offset broader risk reduction.

Importantly, the report noted that positioning into the month-end was not outright capitulative. The analysts stated that while protection was in place, the leverage looked more orderly compared to the chaotic reset event in October 2025.

The absence of broad panic suggests that stress is building in pockets rather than being expressed as systemic liquidation. This distinction matters as the market assesses whether January represents continuation or exhaustion.

The researchers advised that until policy clarity improves or a structural crypto-specific catalyst emerges, rallies are likely to fade, volatility will stay reactive to headline risk, and adaptability rather than conviction will determine survival in the first quarter of 2026.

Whether January marked a continuation of the bear trend or the exhaustion phase of selling pressure remains an open question. However, at present, the data indicate that strategies that prioritize relative value over directional conviction are successfully navigating the current challenges.

The post Relative-Value Strategies Beat Directional Bets as Crypto Volatility Bites appeared first on CryptoPotato.

Even after four months since the massive slump from a record price above $126,000, sentiment surrounding Bitcoin remains fragile. Its failure to bounce back has intensified fears about another crypto winter.

But Matt Hougan, Chief Investment Officer at Bitwise, believes that decentralized finance could play a central role in leading the market out of the current bear phase, as investors increasingly focus on fundamentals such as real users, revenues, and sustainable value.

Aave at the Center

In a recent post, Hougan spoke about a governance proposal published by Aave Labs, the team behind the Aave lending protocol, titled “Aave Will Win,” as an example of why DeFi may be entering a new phase. According to Hougan, DeFi protocols like Uniswap and Aave already function as serious businesses. Uniswap, at times, handles more spot trading volume than Coinbase, while Aave generates more than $100 million annually in revenue.

Despite this, DeFi-related tokens have underperformed, largely because most were designed as governance tokens that offer voting rights but no direct claim on protocol revenues. Hougan explained that this structure emerged as a defensive response to regulatory pressure, particularly from the US Securities and Exchange Commission (SEC), which used the Howey test to assess whether tokens could be classified as securities.

The Bitwise exec noted that Aave attempted to address this issue through its “Aavenomics” upgrades in 2024 and 2025, which introduced token buybacks funded by protocol fees. But tensions continued because Aave Labs could still direct some revenues to itself, a point that drew attention in December 2025 when it allocated $10 million in swap fees to the company.

The new “Aave Will Win” proposal seeks to resolve this by committing Aave Labs to route 100% of revenue from all Aave-branded products, including its website, mobile app, card, and institutional services, directly to the DAO treasury controlled by token holders. In return, Aave Labs would receive a funding package of stablecoins, Aave tokens, and milestone-based grants of around $50 million to cover development of Aave V4 and the transfer of intellectual property to the community, while a new foundation would hold the Aave brand and trademarks.

This would effectively transform the Aave token from a governance-only role toward an asset with a direct claim on revenues, while positioning the founding team as a service provider accountable to token holders, Hougan said.

Pushback

The proposal has drawn criticism from some community members who view the funding request as excessive or argue that certain elements are bundled together. Others also point to unresolved questions around how revenue will be defined and controlled.

While deeming those concerns “legitimate,” Hougan said that Aave’s move may result in other assets following suit.

The post How Aave Could Help End Crypto Winter, According to Bitwise appeared first on CryptoPotato.

Machi Big Brother is known for taking massive, highly leveraged long positions in several tokens on the decentralized exchange Hyperliquid, which has led to significant, high-profile liquidations.

Recent volatile months have massively drained his remaining capital.

Fortune Shrinks

Blockchain data shared by Arkham Intelligence revealed that Machi Big Brother’s Hyperliquid HL account value has fallen below $1 million. The data indicates the Taiwanese-American entrepreneur and former musician, whose real name is Jeffrey Huang, added margin to recent Hyperliquid long positions by drawing from the PleasrDAO treasury, funds that were deposited roughly five years ago.

Arkham Intelligence reports that around five months ago, Machi Big Brother’s net worth was close to nine figures. Since then, his holdings have witnessed a steep fall.

The on-chain tracking firm estimates his cumulative trading performance at a loss of $28 million. The movements were identified through wallet activity linked to Machi Big Brother and the PleasrDAO treasury.

Controversies

Machi Big Brother has been one of the controversial figures in crypto who is known for massive gains, heavy losses, and constant reinvention. He entered the space around 2017, launching Mithril (MITH), a “social mining” project that rewarded users with tokens. The project raised about $13 million, but the token collapsed roughly 80% within months.

He later joined Formosa Financial, which helped raise around 44,000 ETH, then worth about $37 million. About 22,000 ETH later disappeared from the treasury and were never recovered. In 2020, he moved aggressively into DeFi, forking Compound to create Cream Finance. The protocol suffered multiple exploits, and total losses surpassed $192 million.

He continued launching fast-moving forks such as Mith Cash, Wifey Finance, and Typhoon Cash, many of which failed within weeks. From 2021 to 2023, he became a dominant NFT player and amassed more than 200 Bored Ape Yacht Club NFTs worth over $9 million at the peak.

He later sold more than 1,000 NFTs in a short period, which crashed floor prices in what became known as the “Machi Dump.” In 2022, on-chain investigator ZachXBT accused him of embezzling 22,000 ETH and leaving multiple failed projects behind. Machi responded with a defamation lawsuit in Texas, which ended quietly without a ruling.

In 2024, he launched the Boba Oppa meme coin on Solana. He raised over $40 million before the token dropped sharply.

The post Is This the End of the Machi Big Brother Dump? Giant Whale Clings to Last $1M After Disaster appeared first on CryptoPotato.

Ki Young Ju, founder of CryptoQuant, has proposed that a future Bitcoin (BTC) quantum upgrade may require freezing old addresses to protect against potential theft by quantum computers.

He also believes that addressing the risk would be challenging because the crypto community has historically struggled to agree on protocol changes.

Solution to Quantum Risk

In a social media post, Ju explained that anyone holding BTC in old address types faces the same risk. This is because the digital assets could either be frozen by design or stolen if quantum machines evolve enough to break BTC’s cryptography. He added that even securely stored private keys could become useless if owners fail to adopt protocol upgrades in time.

“In simple terms, coins that appear perfectly safe today could become spendable by an attacker tomorrow,” warned Ju.

In response to the threat, the CryptoQuant founder has suggested freezing old addresses, including the one containing Satoshi’s 1 million BTC, to prevent them from being stolen or compromised.

“Would you support freezing dormant coins, including Satoshi’s, to save BTC from quantum attacks?” he asked.

Bitcoin’s security relies on cryptography that is effectively unbreakable by classical computers. However, quantum computers change this assumption. Under certain conditions, a sufficiently powerful machine of this kind could get a private key from an exposed public key.

Once a public key is revealed on-chain, the risk is permanent. Ju estimates that roughly 6.89 million BTC are currently exposed to such attacks. Data shows that about 3.4 million BTC have been dormant for over a decade, including Satoshi’s stash, representing hundreds of billions of dollars in potential value. He explained that with so much value at risk, hackers could be very motivated if the technology becomes cheaper and easier to use.

Social Consensus Challenges

Even if freezing dormant BTC is technically possible, achieving community agreement is still a major challenge. This is because such solutions move quickly, while social consensus happens slowly.

The Bitcoin ecosystem has historically struggled with agreeing on protocol changes. This can be seen in the block size debate, which lasted more than three years and led to hard forks. Another example is the failed SegWit2x upgrade, demonstrating how difficult coming to an agreement can be.

Freezing coins, even to prevent quantum attacks, would likely face similar resistance because it conflicts with the OG cryptocurrency’s core philosophy of decentralization and user control.

Ju cautioned that the lack of full agreement could potentially lead to rival BTC forks as quantum technology progresses. According to him, the real question is not whether the threat will arrive in five or ten years, but whether the crypto community will be united on how to handle it before then.

Elsewhere, Bankless co-founder David Hoffman believes that in the event of a quantum attack, ETH would continue functioning normally even if BTC were to fail because it has been long prepared for these challenges.

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The Core Team issued an important reminder about a deadline that has now past and the community is expecting updates on the nodes front.

We will also take a look at some of the criticism of the project, as well as the PI’s price resurgance.

Pi Network’s Latest Deadline

Recall that at the end of the previous business week, the team behind the protocol issued an important reminder for Pi Network nodes, describing them as the “fourth role” in the ecosystem. The reason for the February 15 deadline is because the team promised a new series of upgrades to be introduced soon. Nodes had to comply by that date; otherwise, they risked being disconnected from the network.

All nodes were prompted to use laptops or desktops instead of mobile phones. Although the deadline has passed now, the team has yet to publish any additional information about the number of nodes that have completed the necessary step or provide any extensions.

Criticism Grows

On the first Friday of February, the Core Team said they celebrated Pi Network moderators. They published a designated video praising this vital part of the overall ecosystem, indicating that moderators are volunteers not employed or paid by the official Pi Network team, who help moderate chats, answer Pioneers’ questions, monitor Pi apps and products, report bugs, and test new features.

The project’s community, though, was not in a celebratory mood. Many criticized the Core Team for a lack of transparency, clear planning, and failure to implement working KYC solutions. Some urged the team to “speed up the progress” and stop messing around with “all that superficial nonsense.” Others said they had been waiting for over seven years to migrate their Pi coins to no avail.

Separately, one user going by the X handle ‘pinetworkmembers’ addressed the PI token’s massive price calamity and drop to new all-time lows of $0.1312 last week. They blamed the team for failing to introduce a “functioning mainnet after years of promises, no real-world utility beyond ‘keep the app open,’ and a whole lot of mobile mining theater.”

PI’s Revival

As mentioned above, the project’s native token was hit hard during the broader market’s correction last week, plunging to a fresh low. However, while the cards were stacked against it, PI went on an impressive run in the following days and rocketed to over $0.20 during the weekend, prompting other Pioneers to celebrate the revival.

One popular analyst predicted a massive 500% surge, and hinted about buying some PI “for the midterm.” As of press time, PI remains the top performer on a weekly basis, having jumped 40% despite retracing to under $0.19.

PiScan data shows a sizeable reduction in the number of coins to be unlocked on average in the following month, down to under 6.2 million daily from well over 7.5 million last week. This could further ease the asset’s immediate selling pressure.

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