Summary of the last 24 hours of social chatter.

Crypto Market Report: February 11-12, 2025

This report synthesizes information from various cryptocurrency groups, providing insights for enthusiasts and traders.

a. Summary

The crypto market experienced a mixed bag of news and developments during the period, with notable activity in the Solana and Base ecosystems. Solayer ($LAYER), a restaking network on Solana, saw significant price gains following its listing on Binance and other exchanges. The launch of Uniswap's Unichain Layer 2 on mainnet and Virtuals Protocol on Solana generated excitement for scaling solutions and AI-powered applications.

Regulatory news also dominated the headlines, with the SEC acknowledging multiple Solana ETF filings and Binance and the SEC filing a joint motion to halt their legal dispute. Institutional interest in crypto continued, with Goldman Sachs doubling down on Bitcoin ETFs and Franklin Templeton registering for a Solana Trust.

The market saw a slight dip in overall capitalization, with Bitcoin and Ethereum experiencing losses. However, several altcoins, including Solayer and Berachain, saw significant gains.

b. News and Developments

i. Exchange Listings and Trading Activity

• Solayer ($LAYER) was listed on Binance futures, Bybit futures, and Hyperliquid futures. Binance Futures Bybit Futures Hyperliquid Futures
• OmiseGo ($OMG) was listed on Bybit spot. Bybit Spot
• Pi Network ($PI) was listed on OKX spot. OKX Spot
• Game7 DAO ($G7) was listed on Bybit, Gate.io, KuCoin, MEXC, and other exchanges. Gate.io KuCoin
• Avalon ($AVL) was listed on Bybit. Bybit
• Weex ($WXT) was listed on LBank. LBank
• Crypto.com announced the ability to provide crypto asset services cross-border to all EEA member states. Crypto.com

ii. Project Updates and Partnerships

• Uniswap Labs launched Unichain, a Layer 2 scaling solution on mainnet. Unichain
• Virtuals Protocol launched on Solana, enabling the creation and trading of AI agents. Virtuals Protocol
• Plume Network ($PLUME) partnered with Superstate, providing infrastructure for Superstate's short-duration U.S. Government Securities Fund and Crypto Carry Fund. Plume Network
• Lido announced the release of V3 of its liquid staking protocol, introducing stVaults for greater flexibility. Lido
• Movement Foundation introduced "Cornucopia," a year-long program to jumpstart its DeFi liquidity. Movement Foundation
• Sophon ($SOPH) launched a $5M initiative called "Intelligence Agency" to support AI agent development and builders. Sophon
• Brevis launched Pico, a modular zkVM for verifiable computing. Brevis
• Holonym acquired Gitcoin Passport for $10 million, expanding its decentralized identity network. Holonym
• Push Chain ($PUSH) launched its Public Devnet and SDK, enabling developers to build applications across different networks. Push Chain
• Story Protocol ($IP) announced its mainnet launch and TGE on February 13. Story Protocol
• Avalon Labs launched its first Bitcoin-Backed Public Debt Fund. Avalon Labs
• MultiversX announced "FebruAIry," an experimentation marathon focused on integrating AI across its network. MultiversX
• Injective launched the TradFi Stocks index. Injective
• Near Foundation launched a $20M AI Agent Fund. Near Foundation
• Legend raised $15M in a funding round backed by a16z and Coinbase Ventures. Legend
• Ranger Finance launched its referral program, allowing users to earn 70% of their referrals' trading fees. Ranger Finance
• Nasdaq-listed Prenetics partnered with Humanity Protocol and unveiled a crypto strategic reserve. Humanity Protocol
• World Liberty Financial unveiled its Macro Strategy, a strategic token reserve designed to bolster leading projects. World Liberty Financial
• BNB Chain announced its technical roadmap for 2025, focusing on improving transaction speed, user experience, and AI integration. BNB Chain

iii. Regulatory News

• The SEC acknowledged multiple Solana ETF filings from 21Shares, Bitwise, Canary, and VanEck. SEC Filing
• Binance and the SEC filed a joint motion to halt their legal dispute for 60 days. The Block
• Fed Chair Jerome Powell stated that the Federal Reserve will never create a central bank digital currency (CBDC). WatcherGuru
• U.S. President Donald Trump plans to pick Brian Quintenz, head of policy at a16z crypto arm, to lead the Commodity Futures Trading Commission. Reuters
• Hong Kong confirmed that Bitcoin and Ethereum can be used to prove wealth for investment visas. CoinDesk

iv. Institutional Activities

• Goldman Sachs doubled down on Bitcoin ETFs, boosting holdings to $1.5 billion in Q4 2024. The Block
• Franklin Templeton registered for a Franklin Solana Trust, indicating a potential spot Solana ETF filing. Delaware Corporations
• Crypto custody firm BitGo is reportedly weighing an IPO as soon as this year. Bloomberg

c. Degen Alpha

• Solayer ($LAYER): The token saw a 3x increase in price from its public sale price on Buidlpad. Solayer
• Story Protocol ($IP): The token will be distributed as part of the Initial Incentives Program. Story Protocol
• Mind AI ($MA): This trading insights platform powered by social intelligence and AI agents is the next project to hit the Decubate launchpad. Decubate
• Shield Protocol ($SHIELD): This project is launching on BSC and is expected to see a price increase. Shield Protocol

d. Patterns and Insights

• Solana Ecosystem Growth: The Solana ecosystem continues to attract attention with the launch of new projects like Virtuals Protocol and the increasing institutional interest in Solana ETFs.
• AI Integration: The integration of AI into blockchain projects is becoming increasingly prevalent, with projects like Virtuals Protocol, Sophon, and MultiversX showcasing its potential.
• Institutional Adoption: Institutional investors are increasingly embracing crypto, with Goldman Sachs and Franklin Templeton demonstrating their commitment to the space.
• ETF Momentum: The SEC's acknowledgment of Solana ETF filings suggests a potential shift in regulatory sentiment towards crypto.
• Meme Token Volatility: The market saw significant volatility in meme tokens, with $CAR experiencing a sharp decline and $PNUT seeing a surge after an Elon Musk tweet.
• DeFi Exploits: The zkLend exploit highlights the ongoing security risks in the DeFi space.

Disclaimer: This report is for informational purposes only and should not be considered investment advice. Always conduct your own research (DYOR) before making any investment decisions.