traction

VanEck released its on-chain Bitcoin report in mid-February 2026. The report noted, "BTC continues to decline, and market sentiment is weakening: Bitcoin has dropped 29% in the past 30 days, pushing the NUPL (Net Unrealized Profit/Loss) indicator close to the 'anxiety zone' and briefly entering the 'fear zone'.Meanwhile, leverage has completed its reset, and the size of open contracts has fallen back to levels not seen since September 2024. Mid-term holders dominate the distribution, but selling is slowing down: realized selling is still mainly concentrated among those holding for 1 to 5 years, although in the past month, the distribution speed of coins held for over 1 year has noticeably slowed.Miner profit margins are under pressure, and hash rate is contracting: over the past 90 days, the total network hash rate has decreased by about 14%, reflecting tightening mining economics. Historically, similar situations often herald stronger subsequent returns for Bitcoin."

The fourth lecture of the Huobi HTX "New Year First Lesson" series will officially start on February 3rd at 19:00. This course features Taran, the head of Huobi HTX Growth Academy, as the special guest speaker. The theme of the course is "Finding the Real Signals That Can Make Money Amidst Chaotic Information," focusing on techniques for capturing information and extracting value in the Web3 industry.The core highlights of the course are clear. Taran will explain methods for capturing information in the Web3 industry, as well as how to distill valuable content from a vast amount of complex information, efficiently transforming information into investment support that effectively serves personal investment decisions.This course will still be live-streamed on the Huobi APP, and the full recorded version can later be found on Bilibili and Zhihu platforms by searching for "HTX Live." Investors can learn at any time.

Arthur Hayes posted on social media that the liquidity of the dollar has decreased by about $300 billion over the past few weeks, mainly due to an increase of $200 billion in the U.S. Treasury General Account (TGA). The government may be raising cash reserves to ensure spending in preparation for a potential shutdown. In this context, the decline in Bitcoin is not surprising, as it is in sync with the contraction of dollar liquidity.

According to Jinshi News, Damian Boey, portfolio strategist at Wilson Asset Management, stated that Waller tends to favor lowering interest rates but hopes the Federal Reserve will reduce the size of its balance sheet to achieve rate cuts.The market is reacting by contemplating what the world will look like if the Federal Reserve's balance sheet shrinks. Once discussions about withdrawing support begin, assets such as gold, cryptocurrencies, and bonds will be sold off.

According to BlockSec monitoring, the account abstraction wallet Holdstation was hacked, with multi-chain assets stolen amounting to $100,000. The hacker has transferred the stolen funds to the Bitcoin network.The Holdstation team has released an on-chain message and is attempting to negotiate with the attacker.

World (formerly Worldcoin) announced the release of World ID v4, introducing account abstraction architecture into the protocol system. This upgrade transforms World ID from a single key mechanism to an abstract record in the public registry "WorldIDRegistry," supporting multiple authorization keys, allowing users to generate authentication proofs across different devices or platforms.World stated that the core improvements of the new version include: support for multi-key and multi-validator management, enhancing usage flexibility while maintaining the same identity; increased protocol resilience by introducing key rotation, revocation, and optional recovery agent mechanisms; launching a web-based reference validator to simplify the browser experience; generating one-time nullifiers through OPRF nodes to strengthen privacy protection; and introducing a trust anchor registry to help validators identify request sources, prevent phishing attacks, and lay the groundwork for future protocol fee mechanisms.

CryptoOnchain posted on social media that the Binance platform has experienced a large outflow of funds over the past 7 days, with stablecoins and mainstream assets being significantly transferred from the platform, including:USDT (ERC20) net outflow of approximately $2.26 billionUSDC net outflow of approximately $1.24 billionBTC net outflow of approximately $2.14 billionETH net outflow of approximately $1.35 billionThis indicates that funds are simultaneously withdrawing from both "cash" and "assets." Although selling pressure may decrease, the buying power within the trading platform is also weakening. A contraction in liquidity often signals that volatility may increase, and price discovery may rely more on external capital flows rather than activities within the Binance platform.

CryptoOnchain posted on social media that the Binance platform has experienced a large-scale outflow of funds over the past 7 days, with stablecoins and mainstream assets being significantly transferred from the platform, including:· USDT (ERC20) net outflow of approximately $2.26 billion· USDC net outflow of approximately $1.24 billion· BTC net outflow of approximately $2.14 billion· ETH net outflow of approximately $1.35 billionThis indicates that funds are simultaneously withdrawing from both "cash" and "assets." Although selling pressure may decrease, the buying power within the trading platform is also weakening. A contraction in liquidity often signals that volatility may increase, and price discovery may rely more on external capital flows rather than activities within the Binance platform.

ZachXBT stated that Ledger has been breached multiple times, resulting in the leakage of customer privacy data and triggering targeted thefts, causing "millions of dollars" in losses; it also pointed out issues with existing products (such as battery failures in the Ledger Nano X), questioning Ledger's plan to go public in the U.S. to "maximize extraction" after announcing a fee for clear signing.

The chain-abstract stablecoin protocol River announced a strategic investment from the Maelstrom Fund, a crypto fund founded by BitMEX founder Arthur Hayes. According to the official announcement, this investment will support River in expanding its chain-abstract stablecoin system and ecological development, promoting the circulation and application of on-chain capital.It is reported that River allows users to deposit assets such as BTC, ETH, and BNB on one chain and natively mint satUSD on another chain, seamlessly participating in various yield opportunities. River's stablecoin has integrated over 30 protocols, such as Morpho, Pendle, and ListaDAO, and has been deployed to mainstream ecosystems like Ethereum, BNB Chain, and Base, with a TVL exceeding $300 million and a circulation of satUSD surpassing $100 million.Before the announcement of this investment, the $RIVER token briefly rose to $25 (currently reported at $14.2), reaching new highs for several consecutive days, with a weekly increase of up to 600%. The total trading volume across the network exceeded $3 billion. Among them, the 24-hour trading volume of Binance perpetual contracts once surpassed $1.7 billion, second only to mainstream tokens like BTC and ETH, and ranked in the top five for contract trading volume on multiple CEXs.

Former co-chairman of the board of directors of Canaan Creative, now founder and chairman of Nano Labs, Kong Jianping, stated yesterday: "The logic of Bitcoin's takeover is undergoing fundamental changes. The path of the past bull market was very clear: geeks → programmers → retail investors → mainstream finance, with each round of increase being the result of cognitive diffusion.However, after 2024, ETFs and institutional holdings have changed the supply-demand structure. A portion of BTC is being transformed into dormant assets that do not participate in short-term speculative games, similar to how gold entered the central bank system. When chips are locked up for the long term, the number of sellers willing to enter and exit repeatedly decreases, and the price driving force will shift from 'cognitive diffusion' to 'supply contraction.' The next round of increase may no longer require new narratives and beliefs."

According to Cointelegraph citing data from Capriole Investments, institutional buying of Bitcoin has once again surpassed the new supply from miners, marking the first time in six weeks.Data shows that current institutional daily buying power exceeds the number of newly mined Bitcoins by about 13%. Over the past three days, institutional demand has consistently resulted in a net decrease in the circulating supply of Bitcoin.Analysis indicates that this round of institutional replenishment occurred after Bitcoin's price fell more than 30% from its historical high in October, suggesting that some institutions are reaccumulating positions during a market pressure phase. Meanwhile, the cumulative net outflow from U.S. spot Bitcoin ETFs exceeded $600 million in the first two days of this week, indicating a divergence between short-term capital outflows and long-term institutional allocations.

The Ethereum Foundation posted on the X platform, stating that the account abstraction team, along with Vitalik Buterin, has released the "Trustless Manifesto" and placed it on-chain. The original intention of Ethereum was not to enhance financial efficiency, but to enable people to collaborate without the need for trusted intermediaries. This manifesto clearly articulates a series of related values, including trustless neutrality, self-custody, verifiability, and a resistance to "convenient" centralized models.The manifesto is fully stored on-chain in the form of a smart contract and provides a single operation: pledge(). This contract has no owner, no administrator, and the text is immutable, with all operations relying on the Ethereum network. When the pledge() operation is called, the system will record the caller's address and the timestamp of the first pledge, and emit a public Pledged(address, timestamp) event. This operation only consumes gas fees and does not provide any form of incentives such as airdrops, points, or early access. If relevant parties make a pledge, it indicates their concern for the importance of user self-authorized operations, their desire for their protocols not to rely on private servers and opaque relayers, and their willingness to bear the actual costs to maintain Ethereum's trustless characteristics.

ChainCatcher news, Paradigm CTO Georgios Konstantopoulos stated that a year of research found no significant breakthroughs in account abstraction, suggesting it should have been set as a native feature of Ethereum in its early years.Vitalik Buterin responded that full account abstraction has not been achieved, requiring ECDSA or intermediaries, with intermediaries relying on privacy risks and censorship resistance, while quantum security and privacy protocols still pose challenges.

ChainCatcher news, according to The Block, the modular blockchain infrastructure project Avail has officially completed the strategic acquisition of the chain abstraction protocol Arcana. According to the integration plan, all XAR tokens will be exchanged for AVAIL tokens at a ratio of 4:1, and Arcana's core technological tools will be fully integrated into the Avail tech stack, with its core development team also joining the Avail project.Regarding the token unlocking mechanism, the AVAIL tokens obtained through the exchange will have a linear unlocking period of 6 to 12 months, while the tokens held by the original Arcana team will have a unlocking arrangement of up to 3 years.

ChainCatcher news, Glassnode's analysis indicates that investors holding positions for over 1 month (excluding day traders) have recently taken significant profits, leading to signs of contraction in the crypto market. Several mainstream crypto assets experienced a notable peak in profit realization during July-August 2025.BTC saw a profit-taking of over $1.5 billion on July 18, marking the largest scale since December 2024. ETH reached a profit realization peak of $575 million on August 16, indicating that long-term holders are avoiding risks. SOL followed closely, realizing over $105 million in profits on August 17, setting a new high since early 2025.Meanwhile, XRP's profit-taking surged to $375 million on July 24, showing a distribution pattern similar to the rebound in December 2024. TRX reached a historical profit realization level of $230 million on August 6, reflecting the selling pressure faced by altcoins in general.

ChainCatcher news, according to a report by Caixin, the Guangzhou Municipal People's Government recently issued the "Implementation Plan for Financial Support for Deepening Comprehensive Cooperation between Guangdong-Hong Kong-Macao in Nansha, Guangzhou."It mentions supporting the development of the digital industry. Strengthen the efforts to attract investment in key digital service institutions such as blockchain and artificial intelligence, and cultivate high-quality local digital service institutions. Encourage digital industry enterprises to enhance cooperation with financial institutions in Nansha to expand the integration of financial scenarios and applications. Support the establishment of data computing power centers, R&D certification centers, evaluation centers, and regulatory platforms in Nansha for the integration of key digital technologies such as blockchain and artificial intelligence with financial scenarios. Promote data exchanges to improve comprehensive services for data circulation and trading, collaborate with financial institutions and credit agencies to innovate data financial products, strengthen cooperation and connection with licensed digital asset trading platforms in Hong Kong, research and construct a cross-border regulatory framework for mutual recognition of digital assets between the two regions, and pilot projects to promote implementation, innovating digital asset trading services.