Gate Research Institute: Multiple public chains and Decentralized Finance protocols have reached a new high in TVL, and Nasdaq has submitted LTC and XRP ETF applications

Abstract

• In the past 24 hours, the price of Bitcoin has risen by 1.75%, staying in a stable oscillation range; the price of Ethereum has risen by 1.84%, approaching the short-term resistance level of $2,700.
• Soneium TVL exceeds 33 million US dollars, reaching a record high.
• BOB Chain TVL increased by 50.78% within the day, with TVL exceeding 2.47 billion US dollars.
• Pendle TVL reached 195,000 ETH, hitting a new all-time high.
• Nasdaq submits CoinShares LTC ETF and XRP ETF trading applications.
• Democratic Representative Maxine Waters introduces stablecoin regulation proposal.
• Bitcoin financial services company Fold expands partnership with Visa.

Market Commentary

• BTC —— The BTC price has risen by 0.62% in the past 24 hours, and the current price is $97,898.9. The recent price of BTC has fluctuated in the range of $94,500 to $99,500, forming a relatively stable oscillation range. Recently, after testing the support level, BTC rebounded to around $98,200 in the short term, and then continued to oscillate. The overall trading volume has increased compared to before, but no obvious signals have appeared.【1】

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• ETH - The ETH price has risen by 1.84% in the past 24 hours, and the current price is $2,683.97. The ETH price still maintains a descending triangle trend, with short-term resistance at $2,700. If there is a breakthrough in volume, it is expected to test the range of $2,750-$2,800. Although the overall trading volume has rebounded compared to the previous period, it is still at a low level, and the market has not yet shown a clear breakthrough signal. It is necessary to pay attention to the change in trading volume in the future.【2】

• ETF - According to SoSoValue data, on February 10, the total net outflow of Bitcoin spot ETF in the United States was 241 million US dollars [3], and the total net outflow of Ethereum spot ETF in the United States was 22.46 million US dollars, as of UTC+0 4:00 [4].
• Altcoins - AI Framework, AI Agent Launchpad, AI Memes and other sectors changed +18.1%, +16.3%, and +14.5%, respectively. 【5】
• **Three major US stock indices ** - the S&P 500 index rose by 0.67%, the Dow Jones index rose by 0.38%, and the Nasdaq index rose by 0.98%.【6】
• Spot Gold - The spot gold price rose 0.39% to $2,919.21 per ounce. [7] Fear & Greed Index – The Fear & Greed Index is 47, indicating that the market is in neutral sentiment. 【8】

Popular Tokens

According to the market data from Gate.io [9], combined with the trading volume and price performance in the past 24 hours, the popular altcoins are as follows:

B3 (B3 Base) – Up about 1,060% in a single day, with an outstanding market capitalization of $108 million.

B3 is a groundbreaking blockchain project that reimagines the interaction between games, game infrastructure, and Web3 technology. B3 is based on the Base Layer3 ecosystem, which supports high-frequency transaction processing per second and achieves a transaction environment with extremely low gas fees. It focuses on addressing key pain points that hinder the mainstream adoption of blockchain games. Through an innovative open game ecosystem, B3 aims to provide a seamless interconnected platform that combines advanced technology with user-friendly design, bridging the gap between developers and players.【10】

After B3 was listed on Gate.io today, its price increased by over 1,000%, thanks to its strong ecological power and the promotion strategy of the project team. The collaboration with multiple KOLs and projects has further increased the popularity of the project and pushed up the price.

LIST (List) - The daily increase is about 63.74%, and the circulating market value is 48.08 million US dollars.

Lista DAO is an open-source decentralized stablecoin lending protocol supported by LSDfi. Users can stake and provide liquidity on Lista, as well as borrow lisUSD against various decentralized collaterals. On BSC, Lista aims to position lisUSD as the top stablecoin in the crypto space by utilizing innovative liquidity collateral solutions. 【11】

Lista announced that it will deepen its cooperation with AI projects, attracting more investors’ attention. Moreover, with the relaxation of regulatory policies, more and more investors are starting to recognize stablecoin projects, further driving the price increase.

**CHEEMS (Cheems) ** - Single-day increase of approximately 28.27%, with a circulating market value of $186 million.

Cheems is a well-known cryptocurrency derived from the popular meme Shiba Inu meme, which once ranked first on the ZK chain and recently migrated to BSC to increase liquidity and trading activity. The Cheems team continues to promote community marketing and ecosystem development, attracting more attention from investors. 【12】Recently, with the surge in BSC ecosystem activity and funds flowing back to BSC, Cheems, as a highly representative meme token, has garnered attention from investors, driving up the price.

Highlight data

Soneium TVL hits a new all-time high, exceeding $33 million

Soneium TVL hits a new high, now at $33.19 million, indicating an increase in market trust in its protocol. Soneium is an Ethereum Layer2 public chain launched by Sony, built using Optimism’s OP Stack technology, with faster transaction speeds and lower gas fees, making it more suitable for large-scale enterprise applications compared to traditional DeFi protocols. The platform aims to bridge Web2 and Web3, providing decentralized financial services, and plans to integrate with Sony’s entertainment, financial, and gaming business ecosystems. [13]

Recently, TVL has surged by 62.28%, indicating a rapid influx of funds into the market and an increase in investor confidence. The main growth may come from Sony’s ecological support, Astar incentive distribution, and enterprise-level compliance-driven design. However, its long-term development still needs to address issues of ecological diversity and sustainability.

BOB Chain TVL rose by 50.78% within the day, with TVL exceeding 2.47 billion US dollars

BOB Chain TVL rose by 50.78% within the day, with TVL exceeding 2.47 billion US dollars, of which Avalon Finance TVL reached 1.62 billion US dollars, an increase of 104% within the day. By combining the advantages of Bitcoin and Ethereum, BOB Chain provides a high-performance, low-cost, secure and reliable Layer2 network, offering developers and users rich functionality and applications. Its unique Hybrid L2 model and BitVM protocol give it a significant competitive advantage in the DeFi and blockchain fields, attracting a large number of projects and users to join its ecosystem.【14】

BOB Chain’s TVL continues to rise under the expansion of the BTCFi ecosystem and the growth of Avalon Finance, demonstrating strong market attractiveness. Avalon Finance is a core DeFi protocol in the BOB Chain ecosystem, focusing on Bitcoin liquidity management and DeFi yield optimization, covering functions such as stablecoin minting, lending markets, and yield aggregation. Avalon Finance accounts for over 65% of the TVL in the BOB Chain, serving as its main growth engine. However, the long-term development of BOB Chain still needs to focus on ecological diversification, BitVM technology advancement, and competition with other BTC Layer2 solutions. If it can continue to attract developers and expand application scenarios, it has the potential to become a key Layer2 network in the BTCFi field.

Pendle TVL reaches 1.95 million ETH, reaching a new all-time high

The total value locked (TVL) of Pendle’s yield protocol recently exceeded 1.95 million ETH in ETH terms, breaking the historical record, demonstrating the continuous increase in market recognition of its protocol. At the same time, Pendle and Ethena have formed a positive interaction in the USDe business, with approximately 2.33 billion USDe deposited in Pendle, accounting for about 45% of its TVL, demonstrating its key role in the DeFi ecosystem.

This growth is mainly driven by the increasing demand for liquidity collateralized derivatives markets, the improvement of collateralization yield, and the influx of institutional funds. With the growth of Ethereum collateralization ecosystem and DeFi yield optimization demand, Pendle may continue to benefit and further drive TVL growth. Investors can pay attention to the yield trend, the deepening application of USDe in Pendle, and the overall development of the LSD track to judge its future growth potential.

Hot Reviews

Nasdaq submits CoinShares LTC ETF and XRP ETF trading applications

Nasdaq has filed for CoinShares LTC ETF and XRP ETF to be listed and traded. Nasdaq has submitted Form 19b-4, which is an application for rule change proposal submitted to the U.S. Securities and Exchange Commission (SEC), typically filed by exchanges to list new financial products (such as ETFs). This move will bring about various positive impacts, including increased market liquidity, enhanced market recognition, improved investor education and participation, and strengthened institutional involvement. At the same time, it may also bring about increased market volatility, legal and regulatory challenges, and other risks. Overall, this development will drive the maturity and growth of the cryptocurrency market.

It is worth noting that the market performance of LTC and XRP has recently attracted widespread attention. As of now, the price of LTC is $129.09, with a 24-hour increase of 13.71%. The price of XRP is $2.49, with a 24-hour increase of 4.18%.

Democratic Representative Maxine Waters Proposes Stablecoin Regulation Bill

Democratic Representative Maxine Waters has proposed a stablecoin regulatory proposal, suggesting that stablecoin issuers be jointly regulated by the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC), and requiring all registered issuers to hold a 1:1 reserve. Previously, Republican Representatives French Hill and Bryan Steil proposed similar bills, but their proposals advocated for non-bank stablecoin issuers to be regulated by the OCC instead of going through the approval process of the Federal Reserve. These proposals aim to unify and standardize the regulatory framework for stablecoins through multi-agency cooperation and strict reserve requirements, enhancing market transparency and stability. However, this may also bring about regulatory differences and market complexity, necessitating a balance between regulation and innovation.

Bitcoin financial services company Fold expands its cooperation with Visa and launches Bitcoin reward card.

Bitcoin financial services company Fold announced a deepened partnership with Visa to expand the Bitcoin rewards card program, covering existing debit card plans and upcoming credit card products. This collaboration will leverage Visa’s shared services and incentive mechanisms to further optimize the user rewards experience. Fold provides multiple Bitcoin asset management features, including Bitcoin purchase, direct deposit of wages, automatic Bitcoin purchase through “rounding up” of expenses, and related asset management tools. CEO Will Reeves said, “Bitcoin is the next evolution of the rewards system, and our partnership with Visa will enhance the user experience.” [18]

In addition, Fold recently completed a $30 million convertible bond financing to support the continued development of the Bitcoin financial ecosystem.

Financing Information

According to RootData data, since February 10, a total of 4 projects have publicly announced their financing, of which 2 projects have a total financing amount of about $11.25 million, involving the AI field and the blockchain security field, and the following are the top two details of the financing amount:[19]

NodeGo.AI - NodeGo.AI has completed a financing of $8 million, led by Hash Capital. The funds will be used to expand its decentralized AI computing network and improve real-time AI processing capabilities. NodeGo is a community network that allows individuals and organizations to monetize their idle computing resources. Leveraging blockchain technology, NodeGo provides a secure and fast way to share, purchase, or sell computing resources. The new funds will be used to build the network, enabling users and enterprises to contribute to AI tasks through space computing and other computing, while allowing participants to earn rewards.【20】

Drosera Network - Ethereum security platform Drosera recently announced the completion of a $3.25 million financing, bringing its total financing to $4.75 million. This round of financing was led by Greenfield Capital, with participation from institutions such as Anagram and Paper Ventures. The funds will be used to enhance smart contract security and blockchain infrastructure protection. Drosera focuses on on-chain threat detection, protocol security audits, and smart contract defense, identifying potential risks through real-time monitoring and automated security tools. With the continuous development of the DeFi and Web3 ecosystems, security threats such as smart contract vulnerabilities and hacker attacks are increasing. Drosera is committed to providing a more secure Ethereum smart contract execution environment to reduce security risks for users and developers.【21】

Airdrop Opportunity

Sandwatch

Sandwatch is a Web3 streaming platform based on the Solana blockchain, aiming to provide a transparent and fair environment for creators and communities to create and enjoy high-quality movies and series. In addition, Sandwatch has launched the first AI video proxy framework, demonstrating the potential of AI in the video creation field. Currently, Sandwatch is running a points program where users can earn Popcorn Points by completing simple tasks. These points may be associated with future token distribution, early participation is expected to yield greater returns. 【22】

Participation method:

• Visit the Sandwatch official website
• Click “Select Seat” in the upper right corner to join the community to get an invitation code
• Follow the instructions to complete designated tasks to earn Popcorn Points

Reminder: The airdrop program and participation methods may be updated from time to time, and users are advised to follow Sandwatch’s official channels for the latest information. At the same time, users should be cautious about participating, be aware of the risks, and do sufficient research before participating. Gate.io There is no guarantee that subsequent airdrop rewards will be distributed.
Reference:

1. Gate.io,https://www.gate.io/trade/BTC_USDT
2. Gate.io,https://www.gate.io/trade/ETH_USDT
3. SoSoValue,https://sosovalue.xyz/assets/etf/us-btc-spot
4. SoSoValue,https://sosovalue.xyz/assets/etf/us-eth-spot
5. CoinGecko,https://www.coingecko.com/en/categories
6. Investing,https://investing.com/indices/usa-indices
7. Investing, https://investing.com/currencies/xau-usd
8. Gate.io,https://www.gate.io/bigdata
9. Gate.io,https://www.gate.io/price
10. X,https://x.com/b3dotfun
11. X,https://x.com/lista_dao
12. X,https://x.com/lista_dao
13. Defillama,https://defillama.com/chain/Soneium
14. Defillama,https://defillama.com/chain/BOB
15. Defillama,https://defillama.com/protocol/pendle?denomination=ETH
16. X,https://x.com/WhaleInsider/status/1888913461515526388
17. Theblock,https://www.theblock.co/post/339827/top-democrat-rep-maxine-waters-releases-draft-proposal-to-regulate-stablecoins-punchbowl-news?utm_source=twitter&utm_medium=social
18. X,https://x.com/fold_app/status/1886803247492366488
19. Rootdata,https://www.rootdata.com/Fundraising
20. NodeGo.AI,https://nodego.ai/
21. Theblock,https://www.theblock.co/post/339603/ethereum-security-platform-drosera-raises-3-25-million-in-funding-brings-total-funding-to-4-75-million?utm_source=feedly&utm_medium=rss
22. Sandwatch,https://www.sandwatch.com/home

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