About
ZRO
Ended--
Last price (USDT)
249.16K
24h total (USDT)
1.00M
Total vol (USDT)
2024-05-20 07:00:00 ~ 2024-06-20 11:30:00
Trading time (UTC+0)
2024-06-20 16:00:00
Delivery time (UTC+0)
Total supply999.99M
Resources
Introduction
LayerZero is an omnichain interoperability protocol designed for lightweight message passing across chains. LayerZero provides authentic and guaranteed message delivery with configurable trustlessness. It is a "blockchain of blockchains" that enables other blockchain networks to communicate directly and in a trustless manner.
8 Blockchain Infrastructure Protocols Quietly Powering Web3
Blockchain infra isn’t exciting but it sure is important. Without it, all the dapps, protocols, and platforms we rely on to participate in Web3 simply wouldn’t work. The games you play. The tokens you trade. The portfolios you track. They all work thanks to the infrastructure that pipes in the resources they require, be it data or liquidity, without compromising decentralization. That said, infra isn’t the stuff that flashy crypto headlines are made of. Indeed, you could be forgiven for assuming that the industry runs on token launches and AI agents. But away from the price action and latest metas, beneath that surface layer, a quieter transformation is underway, driven not by tokens but by infrastructure. Sponsored @media only screen and (min-width: 0px) and (min-height: 0px) { div[id^="wrapper-sevio-a6167040-fbb2-464b-a235-ad8d7419ff89"] { width:320px; height: 100px; } } @media only screen and (min-width: 728px) and (min-height: 0px) { div[id^="wrapper-sevio-a6167040-fbb2-464b-a235-ad8d7419ff89"] { width: 728px; height: 90px; } } window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "a6167040-fbb2-464b-a235-ad8d7419ff89"; sevioads_preferences[0].adType = "banner"; sevioads_preferences[0].inventoryId = "1a7020d0-8d6f-416c-a378-a48c52cce23b"; sevioads_preferences[0].accountId = "b41b6b73-db60-45a1-abc7-61b71ffe1a82"; sevioads.push(sevioads_preferences); Most of the meaningful progress being made in Web3 right now is happening under the hood. Performance improvements, reliable data pipelines, execution tooling, and shared security frameworks that enable applications to work at scale. These infrastructure protocols don’t compete for attention. Instead, they enable everything else to run more efficiently. The following blockchain infra protocols are playing a pivotal role in facilitating this. Together, they’re quietly powering the next evolution of Web3. Orbs: Layer 3 Execution What it does: Orbs acts as a decentralized backend that extends what smart contracts can do, giving DEXs plug and play functionality – like perps. It adds advanced execution capabilities – particularly for trading – that allow decentralized exchanges to offer sophisticated order types and automation without building complex infrastructure themselves. Where it sits in the stack: Layer 3 execution and middleware. Why it matters: Orbs functions much like middleware in traditional software, enhancing existing L1 and L2 chains rather than competing with them. Through adding advanced trading logic to DEXs and enabling richer execution environments, it allows developers to ship more sophisticated applications while users benefit from a smoother, feature-rich experience. Celestia: Modular Data Availability What it does: Celestia provides data availability services so rollups and modular chains can publish transaction data without running their own consensus layer. Its terabit-scale blockspace enables millisecond latency to achieve “fibre optic pace” for onchain markets. This supports the creation of markets with custom execution and even custom privacy. Where it sits in the stack: Data availability layer. Why it matters: Separating data availability from execution enables more scalable blockchain architectures. Developers can launch rollups faster and more cheaply using Celestia while maintaining transparency and security guarantees. LayerZero: Interoperability What it does: LayerZero enables applications to communicate across different blockchains through a messaging protocol. Its interoperability framework enables any asset or product to be deployed across multiple chains effortlessly. L0 is also preparing to launch its own high TPS blockchain that will further enhance Web3 scalability. Where it sits in the stack: Cross-chain middleware. Why it matters: Liquidity and users are distributed across multiple ecosystems. Layer Zero’s interoperability infrastructure allows developers to build applications that operate across chains rather than being confined to one environment. Flashbots: MEV What it does: Flashbots develops infrastructure to improve how transactions are ordered and executed, reducing harmful forms of MEV while enabling more transparent block building. Its products include MEV Boost, allowing Ethereum validators to sell blockspace to an open market of builders. Where it sits in the stack: Transaction and execution infrastructure. Why it matters: Transaction ordering significantly impacts fairness and efficiency in DeFi markets. Flashbots has become a key player in shaping how blockspace is allocated and how value is captured within networks. Space and Time: Verifiable Data What it does: Space and Time is a Proof-of-SQL data warehouse. It allows dapps to run complex database queries such as analyzing a user’s entire wallet history across multiple chains and to prove that the result hasn’t been tampered with. Space and Time merges traditional database power with blockchain verification. Where it sits in the stack: Data and compute layer. Why it matters: As Web3 games and social platforms grow, they need to handle massive amounts of data that won’t fit on a standard blockchain. Space and Time makes that data Web3-compatible, allowing builders such as institutions to consume massive amounts of verified data onchain. EigenLayer: Shared Security What it does: EigenLayer allows Ethereum validators to restake their assets to secure additional services and protocols. It now forms part of EigenCloud, which is focused on verifiable AI compute. EigenLayer makes L2 networks stronger and increases the opportunities available to stakers by maximizing yield. Where it sits in the stack: Shared security layer. Why it matters: In pooling security across multiple applications, EigenLayer reduces the need for new networks to bootstrap their own validator sets. This lowers barriers to launching new infrastructure while strengthening overall network security. Covalent: Agentic Data What it does: Covalent provides a unified data layer that aggregates and standardizes blockchain data across dozens of networks, making it accessible through a single API. Instead of developers querying raw nodes, Covalent delivers structured datasets covering transactions, balances, smart contracts, and historical activity with a particular focus on powering AI agents. Where it sits in the stack: Data indexing and analytics middleware. Why it matters: Acting as a middleware layer between blockchains and applications, Covalent reduces the need for teams to build their own data pipelines, accelerating development and improving reliability. For users, this translates into more responsive apps and richer analytics. Chainlink: External Data What it does: Chainlink delivers real-world data such as asset prices and event outcomes to blockchains. It ensures smart contracts can react to information beyond their native networks, covering everything from the price of Bitcoin to weather data for insurance contracts. Chainlink ensures that when you trade on a DEX, the price is accurate and hasn’t been manipulated. Where it sits in the stack: Oracle layer. Why it matters: Blockchains are inherently isolated and can’t “see” what’s happening in the outside world. Without reliable data feeds, DeFi markets can’t function safely. Chainlink underpins everything from lending protocols to derivatives by providing secure, tamper-resistant data, making it one of the foundational pillars of Web3. Why Infrastructure Is Web3’s Real Long-Term Moat Tokens may capture attention but it’s infrastructure that captures value over time. The protocols that provide reliable data, execution environments, security, liquidity, and scalability form the foundation on which everything else is built. Protocols such as the eight profiled here supply specialized infrastructure layers that combine data services and execution frameworks to create more capable systems. Smarter apps. Faster trading. More reliable analytics. You name it, Web3 infra powers it. Web3’s growth is being shaped by the quiet layers underneath – the protocols that make decentralized applications faster and more reliable without most users ever noticing. Which is exactly the way it should be. The fact that the industry isn’t shouting about blockchain infrastructure is proof that it’s working. People Also Ask: What is blockchain infrastructure? Blockchain infrastructure refers to the foundational systems—protocols, layers, and tools—that enable decentralized applications (dapps) and networks to operate securely and efficiently. What are the different layers of blockchain infrastructure? Common layers include the execution layer, data availability layer, cross-chain interoperability layer, oracle/data layer, and shared security layer. Can Web3 exist without infrastructure protocols? Not effectively. Without these protocols, decentralized applications would face limits in speed, security, data handling, and interoperability. .social-share-icons { display: inline-flex; flex-direction: row; gap: 8px; border-radius: 8px; border: 1px solid #dedede; padding: 8px 16px; margin-bottom: 8px; } .social-share-icons a { display: flex; color: #555; text-decoration: none; justify-content: center; align-items: center; background-color: #dedede; border-radius: 100%; padding: 10px; } .social-share-icons a:hover { background-color: #F7BE23; fill: white; } .social-share-icons svg { width: 24px; height: 24px; } Market Sentiment 0% Neutral
Midnight names MoneyGram, Vodafone, eToro as operators—Cardano price reacts
Cardano price remained on edge on Tuesday, even after Midnight Foundation unveiled top blue-chip companies as node operators. Summary Cardano price continued its strong downward trend on Tuesday. Midnight unveiled MoneyGram, Vodafone, and eToro are some of the top validators. Technical analysis suggests that the ADA token may continue falling. Cardano (ADA) token retreated for four consecutive days, reaching a low of $0.2600, down sharply from the year-to-date high of $0.4375. ADA token has slumped despite the ongoing excitement about the upcoming Midnight mainnet launch, which will happen in March. Midnight is an upcoming sidechain that will focus on privacy. It will enable developers to build privacy-focused applications. Most notably, Midnight will enable privacy stablecoins, which will make it possible for users to send money anonymously. In a statement on Tuesday, the company announced three top blue-chip firms, like MoneyGram, eToro, and Vodafone, as validators. This is notable as these are some of the top companies globally, with MoneyGram moving millions of dollars a day. In a note, Omri Ross, the Chief Blockchain Officer at eToro, said: “Midnight’s architecture for confidential smart contracts with built-in verifiability aligns with our long-term view that, over time, all asset classes will increasingly move on-chain.” Cardano price has additional catalysts in the coming months. For example, the developers are working on implementing measures to boost stablecoin growth in the network. Indeed, it recently partnered with LayerZero, a top bridging network connecting hundreds of chains. Cardano is also working on introducing more oracle networks to the network. It has already integrated Pyth Network in the ecosystem, and developers are aiming to add Chainlink and other networks. Additionally, the developers are working on Leios, an upgrade that will supercharge its performance, making it more comparable to Solana and Ethereum. Cardano price technical analysis ADA price chart | Source: crypto.news The weekly timeframe chart shows that the ADA price has come under pressure in the past few months, moving from a high of $1.3248 in November 2024. It has dropped to a low of $0.2550, its lowest level in August 2024. Cardano has remained below the 50-week and 100-week Exponential Moving Averages, while the Relative Strength Index has continued moving downwards. Worse, the coin has formed a multi-year head-and-shoulders pattern, a common bearish reversal sign. Therefore, it may drop to the next key support level at $0.20.
Here’s why the Pi Network Coin price is crashing today
Pi Network Coin price has suffered a harsh reversal in the past few days, moving from last week’s high of $0.2050 to the current $0.1580. It has slipped to its lowest level since February 14. Summary Pi Network Coin price has retreated by 23% from its highest point this month. The decline happened as investors booked profits amid the ongoing crypto crash. It also happened as the first anniversary failed to address key issues. Pi Coin (PI) token has dropped by over 23% from its highest point this month and 90% from its all-time high. This retreat has pushed its market cap from over $19 billion to $1.4 billion. Pi Coin price has dropped amid profit-taking Pi Network has slumped because of the broader crypto market crash that has affected Bitcoin (BTC) and other altcoins. Bitcoin dropped below $65,000, while top altcoins like LayerZero, Hyperliquid, Mantle, and Lighter fell by nearly 10% in the last 24 hours. The retreat is also happening as investors book profits after the recent surge. Pi Network was up by 60% between its lowest and highest levels this month as traders waited for the first anniversary of the mainnet launch. It also jumped amid optimism that Kraken will list it soon. The other potential reason for the sell-off is that the team’s address on the future did not address key issues. This address focused on priorities like boosting it utility growth and the upcoming KYC-as-a-Service, which will see it compete with World and Humanity Protocol. However, the video did not address pressing issues that have led to a crash. For example, it did not talk on tokenomics, including the ongoing token unlocks and the fact that it does not have a deflation mechanism like token burns. The developers also did not talk about ways to make it a decentralized network where the community votes on key issues. Today, all decisions are made by the team, while the obscure Pi Foundation holds billions of tokens. Additionally, they did not address the future plans on exchange listings as Pi is only available in a handful of exchanges. Pi Network Coin price technical analysis Pi Coin price chart | Source: crypto.news The daily timeframe chart shows that the Pi Coin price has slipped in the past few days. After peaking at $0.2050 last week, it has dropped to $0.1600. The coin has remained below the 50-day moving average and the Supertrend indicator. It has also slumped below the Ichimoku cloud indicator. The most likely Pi Network price forecast is bearish, with the next key target being the year-to-date low of $0.1290. A move to that level may be bullish as it will be a double-bottom pattern whose neckline is at $0.2050. On the other hand, dropping below that level will invalidate the bullish outlook and point to more downside to $0.100.
Cardano taps LayerZero, ending “island” era with 80+ chain bridge
Cardano trades near $0.28, flat on day, as LayerZero unlocks 80+ chain connectivity. Summary ADA changes hands around $0.28, up ~0.2% in 24h, trading between ~$0.28–$0.29 with ~$397m daily volume. Hoskinson says the LayerZero integration makes Cardano “no longer an island,” connecting it to 80+ chains including ETH, SOL, and BNB Chain. LayerZero now lets Cardano dApps send messages and assets across dozens of networks, potentially opening omnichain DeFi, cross-chain lending, and deeper liquidity if developers and capital follow. Cardano has integrated with LayerZero, connecting the blockchain network to more than 80 other blockchains, according to Cardano founder Charles Hoskinson. Hoskinson stated that the integration represents a significant development in connecting Cardano with other blockchain networks, addressing what he described as the platform’s previous isolation. The founder characterized Cardano as “no longer an island” following the LayerZero integration. The integration was announced earlier this month at Consensus Hong Kong 2026, where Hoskinson revealed the partnership after completing negotiations with key stakeholders, according to reports. LayerZero is an interoperability protocol that enables communication and asset transfers between different blockchain networks. The integration allows Cardano to connect with the more than 80 blockchains already supported by LayerZero’s infrastructure. Cardano (ADA), a proof-of-stake blockchain platform founded in 2017, has historically operated with limited direct connectivity to other blockchain ecosystems. The LayerZero integration marks a shift in the network’s interoperability capabilities, according to Hoskinson’s statements. Details regarding the technical implementation timeline and specific blockchains accessible through the integration were not immediately disclosed.
Altcoin Claims Lack Primary Source Confirmation
Crypto News Altcoin Claims Lack Primary Source Confirmation Hours February 11, 2026 What to Know: Claims of Citadel and ARK investing in LayerZero. No primary source confirmations available. Market shows no verifiable changes related to claims. A recent report claims a surprise altcoin received investments from Citadel and ARK Invest, announcing partnerships with DTCC and Google Cloud, but price fell despite these announcements. Despite the report’s claims, no primary sources verify these significant developments, highlighting concerns over misinformation’s impact on cryptocurrency market perceptions and investor confidence. Citadel and ARK’s Alleged Investment Remains Unconfirmed Currently circulating claims that Citadel and ARK Invest invested in LayerZero remain unverified. The announcement of partnerships with DTCC and Google Cloud lacks backing from primary sources. Market participants and investors have shown heightened interest due to the potential implications. The absence of primary confirmation from corporate leadership continues to raise questions. Financial Markets Unmoved by Investment Rumors Despite the claims, no discernible changes in financial markets or shifts in trading volumes have appeared. Blockchain data show no indication of shifts in decentralized finance markets. The rumor of investments created concerns among some investors over due diligence reliance. The discrepancy leads to discussions over industry reporting practices. No Precedent for Citadel or ARK Investing in Altcoins Historical analysis finds no similar verified investments from Citadel or ARK into altcoins in such partnerships, suggesting the claim is unprecedented and possibly problematic. Analysts highlight the importance of verifying information before market reactions occur. As economist John Smith noted, Unverified reports can lead to misguided investments and unwarranted market volatility. Experts reiterate the necessity of accurate data before investment decisions are made. window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "69ae91bf-aacd-4f88-a90c-1f61a5594da5"; sevioads_preferences[0].adType = "banner"; sevioads_preferences[0].inventoryId = "d91d4808-9159-4fa7-8f5e-bc80894381cd"; sevioads_preferences[0].accountId = "ad82357c-af89-4cb2-ad76-470425cadd81"; sevioads.push(sevioads_preferences);
Token Unlocks data outlines next week’s token unlock schedule for ZRO, ARB, YZY and others, detailing recipient categories, vesting and liquidity shifts.
Next week token unlock schedule: ZRO token unlock, YZY, ARB, ASTR/ESPORTS A cluster of major unlocks is slated for next week, with the token unlock schedule featuring ZRO token unlock, YZY, ARB token unlock, and ASTR/ESPORTS. This lineup was reported by PANews on February 15, highlighting large-scale releases across multiple projects. Separate social coverage has flagged ASTR/ESPORTS among the heavy unlock cohort, with naming suggesting “ASTER ASTER -3.72% ” refers to Astar (ticker ASTR) and “ESPORTS” indicating an esports-focused token. Exact amounts, recipient categories, and timestamps should be confirmed directly on professional trackers. Token unlocks are time-based releases of previously restricted supply. They typically expand circulating float and can create imbalances if liquidity is thin or recipients concentrate distribution. Why these unlocks matter and immediate market impact These events can alter short-term market microstructure by increasing tradable supply and shifting inventory to new holders. Near-term impact often hinges on who receives tokens (team, investors, ecosystem programs) and whether secondary liquidity can absorb the added float. “90% of token unlocks lead to negative price movement,” said Keyrock, a digital-asset market maker, characterizing the statistical tendency rather than a certainty for any given event. That backdrop encourages scenario analysis, particularly when unlocks cluster across correlated assets. Recipient segmentation shapes sell-pressure profiles. Allocations to core contributors or early investors may translate into more immediate distribution, while programmatic emissions tied to community incentives can diffuse over time, moderating near-term effects. Track unlock data and mitigate near-term risk Where to verify: Token Unlocks and DefiLlama For verification and sizing, use the trackers named above to review schedules, recipient categories, and vesting mechanics. The data show cliffs and linear releases; amounts and block-time estimates may update, so cross-check timestamps, circulating-supply baselines, and any postponements before trading around an event. Offset mechanics example: RippleX Token Escrow context RippleX has launched Token Escrow on the XRPL mainnet, enabling conditional locking for trustline-based tokens and Multi-Purpose Tokens, expanding regulatory-aligned controls over releases. Such mechanisms can stagger or condition flows and, in principle, offset unlock overhang if implemented alongside buybacks, burns, or revenue-based sinks. There is no indication these specific projects will deploy such offsets next week; the example illustrates available tooling. At the time of this writing, Coinbase Global (COIN) was quoted at $166.00 after hours, up 1.02% on a delayed Nasdaq feed, providing neutral context on broader crypto-adjacent equity sentiment.
SHIB Market Update Highlights 129% Move Toward Net Outflows
Back to the list SHIB Market Update Highlights 129% Move Toward Net Outflows u.today 45 m A recent Shiba Inu market update deduced from CoinGlass data indicates a 129% move toward net outflows. According to spot flow data provided by CoinGlass, in the last 24 hours, Shiba Inu outflows came in at $6.24 million, more than inflows at $6.14 million. The difference ($101,700) yields a negative netflow change of 129%, indicating net outflows. While this might seem concerning, the reverse is the case, as negative netflow might suggest buying pressure or accumulation. This follows as Shiba Inu's price reverses a three-day drop. Shiba Inu fell for three days at a stretch from Feb. 17 to 19, where it found support at $0.00000612 and began to rise. The recovery is extending into its second day from Friday, with $SHIB reaching intraday high of $0.00000662 on Saturday. At the time of writing, $SHIB was up 4.80% in the last 24 hours to $0.000006493. Shiba Inu had also reversed weekly losses, up 0.41% in the last seven days, according to CoinMarketCap data. Shiba Inu open interest rises 8% The spot flow tool is used to confirm or contradict what is happening in the futures market. For example, if prices are increasing and futures open interest is also rising, these might indicate leveraged buying. In this regard, Shiba Inu open interest has risen nearly 8% in the last 24 hours to $78.79 million. If price is increasing while spot flow stays negative, this might suggest an increase driven by derivatives or leverage, which might reverse quickly. What's next for $SHIB price? Shiba Inu has been trading sideways between $0.00000508 and $0.00000724 since the beginning of February. The daily RSI, which is now slightly below 50, suggests that this sideways trading might continue a little while longer before a breakout or breakdown. An immediate barrier for $SHIB's price is expected at the $0.00000724 high before the daily MA 50 and 200 currently at $0.00000743 and $0.00000943. Support is expected at three points between $0.000005 and $0.000006: these are $0.0000061, $0.00000575 and $0.00000508. Latest news Aave Clarifies V3 Won’t be Abandoned as V4 Approaches Mainnet 15 m Bitcoin Price Prediction: Will BTC Break Higher After Rejection Near $69K? 16 m XRP price stuck in a range as key network metric jumps and flips Solana 17 m RubberVerseX Partners With Rocket-IDO to Propel Rubber RWAs Access And Usability in DeFi 18 m Infiblue World Taps FLUX to Bolster Crypto Prediction Markets with AI-Led MEV Infrastructure 19 m Top Crypto Gainers Today – Injective and LayerZero Lead Market Recovery as Altcoins Rally 20 m Top 5 Cryptocurrencies
Cardano Hard Fork Set for Next Month as Hoskinson Confirms Timeline
Cardano founder Charles Hoskinson confirmed that the van Rossem hard fork is scheduled for next month. He also talked about the current state of the market, recent integrations such as LayerZero and USDCx, and how Cardano is stacking up against other networks. In his latest update from “warm sunny Colorado,” Cardano founder Charles Hoskinson discussed the current state of the crypto market and its ongoing struggle against the powers that be, while also confirming that the network’s scheduled hard fork is set for next month. On the hard fork, Hoskinson only mentioned it in passing, stating: “Cardano hard fork is happening I believe next month. But you know the community is kind of working its way through that and getting these things done.” The only major upgrade on the cards for Cardano is Protocol Version 11, which the community voted to name the van Rossem Hard Fork after Max van Rossem, one of the most renowned members of Cardano who died last October. van Rossem is an intra-era hard fork, meaning that while it will change the protocol rules, it will not introduce a new ledger like Shelley or Alonzo. Since it will be activated through the Hard Fork Combinator, it will not split the chain. Among the changes van Rossem brings will be improvements to Plutus, Cardano’s smart contract platform, clean up ledger rules, and update node performance. Breakout Year Ahead for Cardano, Says Hoskinson While the hard fork was mentioned in passing, Hoskinson dedicated a sizable portion of the video to recapping Cardano’s big moves in recent months and how they will shape a transformational year ahead for the network. Here's my speech today https://t.co/PxDvzLdOJt — Charles Hoskinson (@IOHK_Charles) February 19, 2026 The biggest development has been with the Midnight Network. As CNF reported, in his speech at the Consensus conference in Hong Kong, Hoskinson revealed that the Midnight mainnet would be going live before the end of March. At the event, he also revealed that Cardano was integrating LayerZero, one of the most popular interoperability networks. This allows it to connect to over 100 blockchains and tap into $80 billion in omnichain assets. He also mentioned the integration of Pyth oracles and USDCx stablecoin as major milestones for the network. Beyond Cardano, Hoskinson talked about the ongoing attempts by some factions to crack down on decentralization in crypto. They plan to ban non-custodial wallets so that all crypto volume runs on permissioned federated systems owned by the giant financial systems. He noted: “Unfortunately, they are making meaningful and sustained progress. If you look at the latest drafts of the CLARITY Act and the launch of all these federated networks which are VC darlings…there is no real intention to ever decentralize these.” Hoskinson has been criticizing the CLARITY Act for some time now. Last month, he called out Ripple CEO Brad Gardlinghouse for supporting the bill, describing it as siding with the same enemy that almost ran Ripple out of business, as we reported.
Top Crypto Gainers Today – Injective and LayerZero Lead Market Recovery as Altcoins Rally
The cryptocurrency market today appears to have regained some momentum, following reports that altcoin markets measured using CoinMarketCap’s Gainers Index experienced an “all-green” trading day. At the same time, large amounts of capital continue flowing into established utility tokens, reinforcing the broader strength across this asset class. Today’s action in the market shows a very strong interest in investment in digital assets, particularly decentralized finance (DeFi) and protocols that enable interoperability between different blockchains. The last 24 hours have seen several digital assets in those categories post strong gains of over ten percent, reflecting a solid degree of momentum and renewed interest from traders in these sectors. Injective and LayerZero Wielding the Strength Injective (INJ) tops the current rally, with an impressive burst of more than 18%, present at a valuation of approximately $3.92. The recent rise in price is attributable to ongoing growth within the Injective ecosystem and its status as one of the best blockchain solutions available for developing financial applications. Many traders have reacted positively to increased usage of on-chain services as well as the protocol’s ability to provide rapid and inexpensive trading environments. LayerZero (ZRO) comes in second with an almost 14% increase at $1.73. What is evident from the performance of LayerZero is how vital bridge systems for assets across multiple networks are becoming a key part of the Web3 architecture and that there is sustained demand for its native token due to developers being able to create more effective methods of transferring assets across many fragmented networks. DeFi Stalwarts and Infrastructure Resilience While the latest protocol projects are grabbing headlines, established legacy systems are making a comeback, reclaiming their place in the limelight after a period of absence. Ethereum Classic (ETC) saw an increase of 12.60% and Uniswap (UNI) rose almost 9% and currently trades at $3.65. The dramatic rise of UNI’s price is due in part to the increasing number of decentralized exchanges (DEX) taking over market share from centralized exchanges at a greater rate due to heightened market volatility. Both Filecoin (FIL) and Arbitrum (ARB) posted approximately 7% gains in the last week, suggesting that we had a general recovery in both storage and Layer-2 scaling networks as well as the general market. This situation is not solely based on speculation; it clearly shows investors that those putting their money into assets with a promising value proposition will likely keep doing so in the near future. Market Sentiment and Institutional Outlook Currently, despite the upward trends in the market, retail investors are still exhibiting a sense of ‘extreme fear’ towards it, reflected in an index reading of 14 out of 100. Therefore, institutional investors may take advantage of this difference between the price action and the public’s sentiment in order to make purchases. Institutional inflows into digital asset investment products remain stable and serve as a floor for the market during volatile periods, according to CoinShares’ recent report on inflows and outflows. The report focuses on institutional investment products that are not exchange-traded funds, commonly referred to as NETFs. Conclusion The crypto market is known for its volatility and its quick recovery time, and today’s activity reminded us of both these aspects. With Injective and LayerZero leading today’s increase, the focus is primarily on projects that are able to solve technical bottlenecks in real use cases. Even though the “Extreme Fear” sentiment indicates being cautious, the ever-increasing strength behind DeFi and interoperability protocols tells a very convincing story for the next phase of the market cycle. In terms of any investment strategy, one of the keys will be both the exhilaration of daily gains and a more complete view of long-term structural growth.
Data: Today's Top 100 Cryptocurrency Tokens by Market Cap - Gains and Losses
ChainCatcher News, according to Coinmarketcap data, the top 100 cryptocurrencies by market capitalization performed as follows. The top five gainers are: Kite (KITE) up 18.83%, current price $0.2764; LayerZero (ZRO) up 14.35%, current price $1.6; Morpho (MORPHO) up 14.34%, current price $1.56; Render (RENDER) up 8.39%, current price $1.49; Decred (DCR) up 7.4%, current price $23.84.
Brief altcoin pumps lead to deeper corrections for UNI, ZRO, BERA
Altcoin pumps are still happening, even lifting high-profile projects. However, several of the tokens that pumped in February, including UNI, ZRO, and BERA, ended up crashing even lower. Altcoin pumps are still possible, but remain increasingly unreliable. Price expansion in the short term shows that crypto infrastructure is capable of reacting to short-term trading shifts. Several altcoins rallied in February, seemingly defying the market weakness. One of them was UNI, which could be linked to its DEX activity, which is still robust. BERA emerged from its period of underperformance. Other pumps included ZRO and H. Was All Recent Runners Coordinated for Dumps? Recently, a few assets skyrocketed, gaining around 20-60% each in 24H. For now, all their gains are gone, and some are trading even lower than before.$UNI > Pumped on BlackRock investment news$ZRO > Pumped on its own blockchain… pic.twitter.com/CXEMmno90T — CryptoRank.io (@CryptoRank_io) February 20, 2026 However, all of the tokens ended up worse off than before the pump. BERA’s rally coincided with several unlocks for multiple investor classes, challenging the market to absorb around $257K in tokens daily. BERA has a low rate of unlocked tokens and has fallen to its lowest range since the token launch. BERA traded at $0.59, after February’s rally to $0.74. UNI started the month near $5, but crashed to $3.42, near its all-time lows. ZRO rallied to $2.50 before retreating to $1.49. Are altcoin pumps still happening? Altcoin pumps are still happening, despite the weakness of BTC, ETH, SOL, and other blue-chip assets. In the short term, altcoins allow for easier expansion through market makers. Some of the tokens have limited markets or are highly concentrated on one exchange, leading to local pumps. The altcoin season index is at 45 points, a neutral territory between BTC and the rest of the crypto assets. In this range, some assets are outperforming BTC, even with dramatic pumps. As of February 20, 16 altcoins outperformed BTC on a three-month time frame. Most of the top 100 assets, though, took deep cuts against BTC. Altcoins enter the overbought zone A handful of altcoins are now entering the overbought zone while going through a short-term pump. Assets from previous rally cycles are now coasting in neutral territory based on their relative strength index (RSI). As Cryptopolitan reported, altcoin selling pressure is near an all-time high, but some assets are performing as outliers. One of the best-performing assets is KITE, recently touching all-time highs at $0.26. KITE is also one of the most overbought altcoins, even though it only entered the market in the past six months. KITE is among the newly pumping altcoins, showing there is still energy to drive new projects, but not lift all assets. | Source: KITE rallied against the market during one of the worst months in crypto. The altcoin was listed on Binance, but unlike other projects, it did not crash. KITE also went against the grain somewhat, launching its product during what many perceived as a bear market at the time. The KITE rally is yet to show its sustainability and the project’s viability. KITE is now riding the headwinds of the AI agent narrative, as it builds a new L1 chain for agents, an ambitious task in a market already saturated with blockchains. The short-term rallies for altcoins, however, show the market has enough liquidity and can set up short-term directional bets. For now, the confidence and stablecoin liquidity does not translate into an overall market recovery, as traders are still cautious of liquidations.
Last Dip Before Liftoff? Top 5 Altcoins That Could Explode 50%–300% by Mid-2026
SOL, XTZ, ZRO, UNI, and SPX show strong support patterns signaling potential 50%–300% mid-year gains. Consolidation near major support zones indicates market participants are preparing for possible upward expansions. Technical resilience combined with active network use provides an unmatched foundation for potential altcoin rallies. Market observers are closely tracking a cluster of altcoins that have shown resilience after recent corrections. Analysts note Solana (SOL), Tezos (XTZ), LayerZero (ZRO), Uniswap (UNI), and SPX6900 (SPX) are demonstrating conditions that could support significant upside. Technical signals, market cycles, and historical behavior suggest these tokens may rebound sharply if broader market sentiment improves. Price consolidations near support zones have attracted attention, with each coin presenting distinct structural patterns that hint at potential 50% to 300% growth over the next few months. While volatility remains a factor, market participants are monitoring momentum shifts and liquidity trends, highlighting how these five assets could be positioned for a notable mid-year rally. Exceptional Solana Shows Resilience in Layered Structures Solana (SOL) has maintained consistent activity on its network despite recent market corrections. Analysts describe SOL as exceptional due to its scalable transaction capacity and active ecosystem, providing solid technical foundations. Recent consolidation patterns suggest the coin is forming a base for potential expansion, and long-term support levels have shown repeated rejection of deeper declines. Observers indicate that sustained network usage and developer engagement could enhance growth prospects if market confidence returns. Outstanding Tezos Strengthens Its Support Zone Tezos (XTZ) has demonstrated remarkable stability across recent market swings. Technical analysis shows XTZ consolidating above major support while facing resistance near previous highs. Experts note that its governance mechanism and continuous protocol upgrades contribute to unmatched resilience. This combination of fundamental stability and technical structure may allow XTZ to capture potential upward momentum, signaling a profitable window for traders tracking mid-term movements. Groundbreaking LayerZero and Uniswap Exhibit Early Signals LayerZero (ZRO) and Uniswap (UNI) have recorded significant activity within their respective decentralized ecosystems. Analysts categorize these coins as groundbreaking due to innovative cross-chain and decentralized finance features. Chart patterns indicate ZRO is forming higher lows while UNI has established strong accumulation zones. Both tokens reflect dynamic market positioning, signaling possible high-yield outcomes if trading volumes increase and market cycles favor altcoins. Phenomenal SPX6900 Surpasses Previous Benchmarks SPX6900 (SPX) is demonstrating stellar momentum compared to historical levels, with analysts emphasizing its phenomenal resilience in volatile conditions. Technical studies highlight the coin maintaining short-term support, suggesting it could unlock considerable upside if broader altcoin sentiment strengthens. The current pattern reflects a premier structure where price compressions might precede expansive moves, creating lucrative scenarios for mid-2026 projections. Tags: Altcoin Crypto market cryptocurrency SOL UNI XTZ
Robinhood's Layer 2 testnet sees four million transactions in first week, CEO Vlad Tenev says
Robinhood's public testnet for its own blockchain has accumulated four million transactions in its first week, according to CEO Vlad Tenev. "Developers are already building on our L2, designed for tokenized real-world assets and onchain financial services," Tenev said in an X post on Wednesday. "The next chapter of finance runs onchain." The U.S. financial trading giant launched the testnet for Robinhood Chain last Tuesday as an Ethereum Layer 2 built on Arbitrum. The chain, which underwent six months of private testing before the public testnet launch, is designed as a permissionless blockchain platform for high-throughput financial applications, with native support for tokenized equities, ETFs, and other real-world assets. Robinhood has already integrated key infrastructure partners, including Alchemy, LayerZero, and Chainlink. The testnet's rapid accumulation of transactions demonstrates strong early developer interest in the network, which likely strengthens Robinhood's long-term focus on crypto and tokenization despite the current market pullback. Robinhood saw its crypto transaction revenue fall 38% year-over-year to $221 million during the fourth quarter of last year. Robinhood announced last month that it plans to expand its tokenized stock offering to include round-the-clock trading, near-real-time settlement, and self-custody. Tenev previously compared tokenization to a freight train, saying that it "can't be stopped" and will eventually eat the entire financial system. Robinhood Chain's mainnet launch is expected later this year, though no exact date has been announced.
Cathie Wood: Bitcoin's Drop Driven By Algorithmic Selling, Not Fundamentals
Ark Invest CEO Cathie Wood weighed in on Bitcoin's recent weakness, arguing that the decline reflects algorithmic selling rather than deteriorating fundamentals. Bitcoin vs. Gold: A “Risk-Off” Disconnect In a recent interview, Wood pointed to Bitcoin's underperformance relative to gold, describing it as a byproduct of systematic, algorithm-driven trading models that classify crypto as a high-beta risk asset instead of a store of value. She compared the current macro backdrop to 1996, just before the internet economy entered a parabolic expansion phase. Wood also suggested that gold appears "over its skis" relative to global M2 money supply, implying it may be stretched compared to historical valuation norms. Despite Bitcoin's lag, she emphasized that its long-term structure of higher lows remains intact, a key technical hallmark of an ongoing secular uptrend. AI Infrastructure and LayerZero Wood revealed she has joined the advisory board of LayerZero, a cross-chain interoperability protocol designed to enable seamless communication across blockchains. She highlighted its potential to handle millions of transactions per second, positioning it as infrastructure for an AI-driven digital economy — capacity that would significantly exceed what networks like Ethereum currently support. Wood framed today's fear-driven volatility as an opportunity, arguing that disruptive technologies, particularly AI and crypto, often see exponential gains following periods of heavy skepticism. Ark Invest Expands Crypto Exposure Ark Invest recently purchased approximately $18 million worth of crypto-related equities, including: $2 million in Bullish, now the ninth-largest holding in the ARKF ETF at a 3.4% weighting $12 million in Robinhood shares $4 million in Bitmine Immersion Technologies Through ETFs, Ark also maintains exposure to major crypto-linked firms, including Circle Internet Group , Block and Coinbase Global. Image: Shutterstock
ADA at $0.28: Key Level to Watch for Cardano Now
Back to the list ADA at $0.28: Key Level to Watch for Cardano Now u.today 41 m Cardano saw profit-taking on Monday after a rally over the weekend led its price to $0.30. Cardano rose for three days straight from Feb. 12 to 14 to reach a high of $0.301 on Feb. 15 before it retreated. The weekend rally followed that of the broader crypto market as investors reacted to a cooler-than-expected U.S. inflation print and signs of renewed risk appetite. The Consumer Price Index for January rose 2.4% year-over-year, just below the forecast 2.5%. The rise also followed a week of major announcements for the Cardano ecosystem. Cardano founder Charles Hoskinson announced at the recent Consensus event that USDCx stablecoin will launch on Cardano by the end of February. In a separate announcement, LayerZero, a multichain messaging protocol connecting over 160 blockchains with $200 billion in cross-chain volume, will be integrated with Cardano and its ecosystem. This marks another huge step for Cardano's interoperability, with the integration unlocking the largest cross-chain connectivity expansion in Cardano’s history. This is expected to open the pathway to stablecoin liquidity, Bitcoin-backed assets, tokenized real-world assets and shared DeFi infrastructure across the broader crypto ecosystem. $0.244 most important support According to Alicharts, $0.244 is the most important support level for Cardano as the market faces uncertainty. $0.244. That’s the most important support level for Cardano $ADA. pic.twitter.com/PsAHaVACRL — Ali Charts (@alicharts) February 15, 2026 Currently, Cardano is trading in red as the crypto markets fell on Monday ahead of a packed week of economic data. In the last 24 hours, liquidations across the market have reached $280 million, according to CoinGlass data. At the time of writing, $ADA was down 1.02% in the last 24 hours to $0.281. Traders are preparing for a busy week of macroeconomic events, including Fed minutes and the core PCE inflation report. The minutes of the January Fed meeting are expected as well as the release of the Fed's preferred inflation gauge, the core personal consumption expenditures price index (PCE), for fresh positioning signals. Latest news Developers of This Altcoin Allegedly Dumped a Large Amount of Tokens on Binance en.bitcoinsistemi.com 26 m Bitcoin is not acting like "digital gold" because real gold and USD correlations collapsed toward zero cryptoslate.com 26 m Wall Street is out of cash to "buy the dip" but $7.7T could rotate into Bitcoin if prices stay beaten down cryptoslate.com 31 m Bitcoin has 6 weeks to avoid 2026 being the most bearish period in history - one price matters now cryptoslate.com 46 m XRPL holds 63% of this T-bill token supply but barely any of the trading, and that’s a problem cryptoslate.com 50 m Bitcoin Consolidates Above $69,000 as $71,000 Emerges as Key Resistance news.bitcoin.com 55 m Top 5 Cryptocurrencies
Cardano (ADA) Back in ‘Survival Mode’ Despite Whale Accumulation and DeFi Expansion Plans
This year has been a tough ride for Cardano (ADA) investors, as weakening retail participation collides with renewed development activity and aggressive accumulation by large holders. While on-chain data points to growing long-term conviction, market sentiment around ADA remains fragile, leaving the asset caught between technical pressure and ecosystem expansion efforts. var rnd = window.rnd || Math.floor(Math.random()*10e6); var pid607465 = window.pid607465 || rnd; var plc607465 = window.plc607465 || 0; var abkw = window.abkw || ''; var absrc = 'https://servedbyadbutler.com/adserve/;ID=172179;size=0x0;setID=607465;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid607465+';place='+(plc607465++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; document.write(' '); if (!window.AdButler){(function(){var s = document.createElement("script"); s.async = true; s.type = "text/javascript";s.src = "https://servedbyadbutler.com/app.js";var n = document.getElementsByTagName("script")[0]; n.parentNode.insertBefore(s, n);}());} var AdButler = AdButler || {}; AdButler.ads = AdButler.ads || []; var abkw = window.abkw || ""; var plc366606 = window.plc366606 || 0; (function(){ var divs = document.querySelectorAll(".plc366606:not([id])"); var div = divs[divs.length-1]; div.id = "placement_366606_"+plc366606; AdButler.ads.push({handler: function(opt){ AdButler.register(172179, 366606, [728,90], "placement_366606_"+opt.place, opt); }, opt: { place: plc366606++, keywords: abkw, domain: "servedbyadbutler.com", click:"CLICK_MACRO_PLACEHOLDER" }}); })(); Cardano sits at #11 trading near $0.28 after a sharp correction from January highs above $0.44. The price structure reflects broader cooling across the market, with declining derivatives activity and cautious trader positioning reinforcing analysts’ description of a “survival mode” environment for the token. ADA's price trends to the downside on the daily chart. Source: Market Fatigue Weighs on Cardano (ADA) Price Momentum Cardano founder Charles Hoskinson recently warned that the crypto market could face another 90 to 180 days of slow conditions, citing retail exhaustion following years of market shocks, including exchange failures, regulatory uncertainty, and repeated speculative cycles. var rnd = window.rnd || Math.floor(Math.random()*10e6); var pid607472 = window.pid607472 || rnd; var plc607472 = window.plc607472 || 0; var abkw = window.abkw || ''; var absrc = 'https://servedbyadbutler.com/adserve/;ID=172179;size=0x0;setID=607472;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid607472+';place='+(plc607472++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; document.write(' '); if (!window.AdButler){(function(){var s = document.createElement("script"); s.async = true; s.type = "text/javascript";s.src = "https://servedbyadbutler.com/app.js";var n = document.getElementsByTagName("script")[0]; n.parentNode.insertBefore(s, n);}());} var AdButler = AdButler || {}; AdButler.ads = AdButler.ads || []; var abkw = window.abkw || ""; var plc452518 = window.plc452518 || 0; (function(){ var divs = document.querySelectorAll(".plc452518:not([id])"); var div = divs[divs.length-1]; div.id = "placement_452518_"+plc452518; AdButler.ads.push({handler: function(opt){ AdButler.register(172179, 452518, [728,90], "placement_452518_"+opt.place, opt); }, opt: { place: plc452518++, keywords: abkw, domain: "servedbyadbutler.com", click:"CLICK_MACRO_PLACEHOLDER" }}); })(); Derivatives data support this cautious outlook. Open interest in ADA futures has dropped to roughly $447 million, alongside declining trading volumes, signaling reduced conviction among traders. Funding rates have also turned negative, suggesting bearish sentiment is building in leveraged markets. Technically, ADA is testing key support levels. The token continues to defend an ascending trendline formed after February’s lows near $0.22, while resistance remains clustered around the $0.29–$0.30 region. Analysts note that repeated tests of support increase the risk of breakdown, potentially exposing downside targets near $0.25 if selling pressure intensifies. Despite the weakness, higher-low formations and stabilization above short-term moving averages leave room for recovery should broader market sentiment improve. var rnd = window.rnd || Math.floor(Math.random()*10e6); var pid607473 = window.pid607473 || rnd; var plc607473 = window.plc607473 || 0; var abkw = window.abkw || ''; var absrc = 'https://servedbyadbutler.com/adserve/;ID=172179;size=0x0;setID=607473;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid607473+';place='+(plc607473++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; document.write(' '); if (!window.AdButler){(function(){var s = document.createElement("script"); s.async = true; s.type = "text/javascript";s.src = 'https://servedbyadbutler.com/app.js';var n = document.getElementsByTagName("script")[0]; n.parentNode.insertBefore(s, n);}());} var AdButler = AdButler || {}; AdButler.ads = AdButler.ads || []; var abkw = window.abkw || ''; var plc452519 = window.plc452519 || 0; (function(){ var divs = document.querySelectorAll(".plc452519:not([id])"); var div = divs[divs.length-1]; div.id = "placement_452519_"+plc452519; AdButler.ads.push({handler: function(opt){ AdButler.register(172179, 452519, [728,90], 'placement_452519_'+opt.place, opt); }, opt: { place: plc452519++, keywords: abkw, domain: 'servedbyadbutler.com', click:'CLICK_MACRO_PLACEHOLDER' }}); })(); Whales Step In as Retail Interest Declines While retail demand fades, large holders appear to be taking the opposite approach. On-chain data shows wallets holding between 10 million and 100 million ADA accumulated more than 220 million tokens, valued at over $61 million, during the recent price dip. The Mean Coin Age metric has reached a three-month high, indicating long-term holders are largely refraining from selling. Historically, this combination of whale accumulation and reduced token movement can tighten circulating supply and help establish price floors during downturns. Some analysts argue that February’s lows could represent a longer-term entry zone if market conditions stabilize, though they caution that historical rebounds do not guarantee future performance. DeFi Expansion Plans Aim to Shift Narrative Beyond price action, Cardano is advancing with ecosystem upgrades to strengthen its decentralized finance (DeFi) ecosystem. The network plans to launch USDCx, a USDC-backed stablecoin intended to address liquidity shortages that have limited DeFi growth on the chain. In parallel, Cardano is integrating the LayerZero interoperability protocol, enabling connections to more than 140 blockchain networks, including Ethereum and Solana. The move is expected to expand cross-chain liquidity access and attract developers seeking broader user bases. Development activity remains high, with hundreds of repository updates focused on wallet improvements, cross-chain communication, and network infrastructure. However, market reaction has so far remained muted, suggesting investors are waiting for measurable adoption rather than announcements alone. Cover image from ChatGPT, ADAUSD chart on Tradingview
IOTA Expands Korea Presence at World Crypto Forum During Lunar New Year
IOTA was represented at the World Crypto Forum in South Korea last week where founder Dominik Schiener took to the stage and conducted interviews. Tier 1 Korean financial institutions got a private introduction to the TWIN global digital trade infrastructure on the sidelines. Last week, the crypto industry gathered in the city of Seoul in South Korea to discuss how to bridge digital assets to mainstream finance at the World Crypto Forum. IOTA was one of the projects represented at the event, with founder Dominik Schiener leading a team from the IOTA Foundation. The inaugural event, held on Feb. 11 and 12 brought together thousands of attendees from across Asia and beyond, with speakers including WLFI’s Eric Trump, a16z crypto COO Anthony Albanese, Injective’s Andrew Kang and LayerZero’s Alex Lim. Schiener also took to the stage on the second day of the event to discuss how IOTA bridges the trillion dollar gap with on-chain global trade. The session was moderated by Kim Jina, the network’s head of ecosystem. 설날 (Korean New Year week) starts today 🇰🇷🎉. 새해 복 많이 받으세요! Coming off a strong weekend in Seoul, we were on the ground at World Crypto Forum connecting with leading Korean institutions and sharing how @TWINGlobalOrg can unlock real-world adoption on IOTA⤵️ pic.twitter.com/urzDGL0IM8 — IOTA (@iota) February 16, 2026 Schiener commended the event, the attendees and the organizers, adding that there was “such a positive energy there, with deep support from the Blue House and large enterprises and financial institutions committed to building on crypto.” IOTA Pitches TWIN as the Ultimate Solution for Global Trade In his session, Schiener told the attendees: IOTA is building a kind of highway, and by utilizing blockchain, you can verify the source and authenticity of data, which can greatly benefit cross-border business. The main product he discussed was TWIN. As CNF reported earlier this month, TWIN went live on UK borders in a pilot project through a partnership with Teesside University. Days earlier, the project had released Version 1.0 which standardized data exchange on open protocols, boosting transparency and data sovereignty. To illustrate the efficiency that blockchain can unlock, Schiener gave the example of a mining company in Rwanda that has been paying 20% interest on financing from local banks. Now, through TWIN, it tokenizes warehouse receipts and ownership, enabling the company to access instant funding in the form of stablecoins, backed by real-world assets. He added: In Kenya, we’ve also completed an experiment connecting 34 government systems with IOTA to secure and verify data. If everything—trade documents, invoices, sales—is tokenized, trust will increase and trade barriers will disappear. On the sidelines, the IOTA Foundation organized a private side-event with Tier 1 Korean financial institutions where it offered them a deeper look into TWIN and how it’s changing global trade. “We have a deep commitment to Korea and will move forward to connect the country onchain and bring forth a new wave of crypto adoption and acceptance,” Schiener added. IOTA trades at $0.0687, dropping 3.4% in the past day.
Market Watch: $321M Token Supply Release Could Shake Altcoins
The crypto market is preparing for a major supply event over the next seven days, with more than $321 million worth of tokens scheduled to unlock, according to Tokenomist data. These releases include both large one-time cliff unlocks and gradual linear unlocks, events that traders monitor because increases in circulating supply can influence short-term price movements. The upcoming token unlocks arrive at a time when the broader crypto market is already under pressure. The total market capitalization has slipped to around $2.35 trillion. Top cryptocurrencies are also trading lower in recent sessions, with Bitcoin near $68,500, Ethereum around $1,970, and XRP close to $1.46. Among the largest one-time releases, LayerZero (ZRO) will unlock approximately 25.7 million tokens valued at about $45 million, representing nearly 6% of its adjusted released supply. Other large cliff unlocks include YZY, Arbitrum (ARB), and KAITO, together adding tens of millions of dollars in additional supply entering the market during the week. Alongside single-event releases, several projects will distribute tokens gradually through linear unlock schedules, which release supply daily. The biggest of these includes RAIN, with unlocks valued at over $93 million, followed by Solana (SOL), CC, TRUMP, RIVER, Worldcoin (WLD), Dogecoin (DOGE), and ASTER. Even though these unlocks are spread over time, their combined effect can still influence liquidity and trading sentiment. The schedule shows token unlocks nearly every day, including releases for Arbitrum (ARB), zkSync (ZK), KAITO, LayerZero (ZRO), Wormhole (W), Quai Network (QUAI), Immutable X (IMX), and several smaller projects. Individual releases range from a few hundred thousand dollars to tens of millions, contributing to the overall increase in circulating supply. (adsbygoogle = window.adsbygoogle || []).push({}); the week also includes several industry updates. Belgium’s KBC Bank is preparing to launch regulated crypto trading services starting February 16, while various projects are holding public sales, governance announcements, and ecosystem events. Macro-economic updates, including U.S. Federal Reserve meeting minutes and economic data releases, could also influence broader market sentiment during the same period. Experts say that token unlocks do not always lead to immediate price declines, but they often increase short-term volatility as early investors, teams, or ecosystem participants gain access to newly tradable tokens.
Cathie Wood: This round of market volatility is caused by algorithms, not fundamentals
As debate over AI capital expenditures heats up, Cathie Wood attributes the rapid and dramatic fluctuations in the US stock market to a chain reaction of algorithmic selling. On February 14 local time, ARK Invest CEO and CIO Cathie Wood stated in her video series "ITK" that recent market volatility has been driven more by programmatic trading rather than equivalent changes in fundamentals. She said at the beginning of the program: “This round of volatility is mostly ‘manufactured’ by algorithmic trading. Algorithms don’t do research like we do.” Wood said that such volatility can “scare people,” but it also creates pricing errors. “During the tariff turmoil last April, many people panicked. Those who sold then regretted it for the rest of the year.” She described the current market as “climbing a wall of worry,” and noted that such markets are often stronger. Why Algorithms “Create” Volatility The “algorithms” Wood refers to don’t judge corporate cash flows and competitive landscapes, but mechanically adjust risk exposures based on set rules. She summed up recent market features in one phrase: “Sell first, ask questions later.” From a trading mechanism perspective, programmatic strategies are often triggered by price trends, volatility, correlation, and position risk budgets: When prices fall or volatility rises, models often automatically reduce exposure to risk assets to meet preset drawdown/volatility targets; Reducing positions in itself further increases volatility and correlation, which in turn triggers more model-based selling, creating a “feedback loop”; In areas with crowded trades and high position homogeneity, this chain reaction more easily drags down both “good companies” and “bad companies” together, just as she said, “throwing out the baby with the bathwater.” She also pointed to another amplifier: the rise of technical-driven trading mindsets. “Now many people only do technical analysis.” In her view, the more people watch the same moving average or “key level,” the more likely it is to trigger stampede-like trades in the same direction. “Structural Transformation” Algorithms Can’t Understand Regarding the recent sharp volatility in tech stocks, especially software, Wood believes that the market is undergoing a technological shift from a “one-size-fits-all” SaaS model to highly customized AI agent platforms. In this process, it’s inevitable that traditional SaaS will come under pressure, but the market is overreacting. “Anyone who sells at this moment will regret it.” Wood bluntly stated in the video: “Most of the current volatility is generated by algorithms. Algorithms don’t do the research we do, and this is the biggest opportunity of our lifetimes.” She explained this mechanism failure in detail: when the market perceives slowing growth in the SaaS sector, algorithmic trading tends to execute indiscriminate sell orders. Machines can’t distinguish which companies are successfully transforming into AI platforms and which will be eliminated. This mispricing, caused by a lack of in-depth fundamental research by algorithms, is precisely the opportunity for active investors. “That’s why we concentrate our positions in the stocks we have the highest conviction in. The market has given us this opportunity.” Wood said that the current market is climbing a “wall of worry,” which is usually a feature of a strong bull market. It’s Necessary for Giants to “Burn Cash”: This Is 1996, Not 1999 The market is generally worried that the “Magnificent Seven” (Mag 7) tech giants’ aggressive capital expenditures will erode cash flow, causing some traditional investors focused on free cash flow to reduce positions recently. Wood holds the opposite view. She recalled the history of the internet bubble, pointing out that the current period is not the bubble peak of 1999, but more like 1996—the early stage of the internet revolution. “If you’ve experienced the tech and telecom bubble, today’s environment is much healthier than back then.” She used a vivid comparison to illustrate the current market sentiment’s health: At the peak of the internet bubble, Jeff Bezos could say, “We’ll lose more money to invest aggressively,” and then Amazon’s stock price would surge 10% to 15%. But today it’s the opposite. “When the ‘Mag Six’ say they want to increase capital expenditures, the market punishes them—their stock prices fall rather than rise.” Wood believes this shows that investors are not in a state of irrational exuberance, but rather full of fear and doubt. “The market is climbing a ‘wall of worry,’ which is usually the most solid foundation for a long-term bull market, not a precursor to a bubble burst.” Today’s investors bear the “scar memories” left by the 2000 bubble burst, making them extremely cautious when facing new technology. “We believe Google, Meta, Microsoft, and Amazon should spend aggressively, because this is the biggest opportunity of our lifetime.” Wood rebutted the market’s shortsightedness: “The issue is, as we evolve to agentic AI and chatbots, will this steal time from traditional social media? From a shopping perspective, will our intelligent agents handle everything for us? We do need to pay attention to changes in market share, but that’s exactly where the opportunity lies.” Productivity Shocks May Pull Inflation Lower Wood extends AI’s impact to the macro level: rising productivity may alter the traditional narrative that “growth inevitably pushes up inflation.” She mentioned that productivity gains will bring the fiscal deficit/GDP ratio down and claimed that the US might achieve a surplus by the end of this presidential term (she cited late 2028 to early 2029). She even predicts “global real GDP growth of 7%-8% by the end of this decade,” and says “it might even be conservative.” She repeatedly emphasized one conclusion: “Growth does not equal inflation.” In her framework, AI-driven real growth is more likely to push inflation down through productivity, not up. She also mentioned that a rebound in the dollar would be a “powerful disinflationary force.” On inflation indicators, she especially highlighted “the most important page”: the Truflation real-time inflation index shows inflation is “breaking down,” with her reading at about 0.7% year-on-year. She also mentioned marginal changes in housing and energy: “Existing home price inflation has dropped below 1%,” new home price inflation remains negative, and rents are beginning to decline; Oil prices have seen “double-digit declines year-on-year,” which she calls a “tax cut” for consumers and businesses. Labor Market Pains and the Entrepreneurship Boom Addressing the current low consumer confidence, Wood admitted that consumers “are not happy,” mainly due to real labor market weakness and the crisis of housing affordability. “Last year’s payroll numbers were revised down by 861,000, which is roughly a reduction of 75,000 jobs per month.” Wood pointed out, explaining why consumer sentiment diverged from GDP data. However, she sees a positive side in youth unemployment figures. Although the unemployment rate for those aged 16-24 once soared, it has recently fallen below 10%. Wood believes this is not just a recovery in employment, but possibly an “Entrepreneurial Explosion” enabled by AI. “AI has become so powerful that individuals can now go out and start businesses directly.” Wood predicts that as AI tools become more widespread, a large number of highly efficient startups led by individuals or small teams will emerge, becoming another important engine of productivity growth. Full English translation of Cathie Wood’s latest video sharing: Opening and Market Volatility Analysis 00:01 Anyone who sold at this moment has regretted it. Most of the current market volatility is generated by algorithms, and algorithms don’t do deep research like we do—this is the biggest opportunity of our lifetimes. Hello everyone, I’m Cathie Wood, CEO and CIO of ARK Invest. This is a “Jobs Friday” video update—though that’s a bit of a stretch, since the jobs report was actually released on Wednesday, not today. But anyway, Friday seemed like a good day to record this video. As usual, we’ll discuss fiscal policy, monetary policy, economic conditions, and market indicators. First, I want to comment on the recently extremely volatile market environment. As you know, since ARK was founded in 2014, we’ve been talking about artificial intelligence (AI). We’ve been all-in on it from the start, and that’s when we first established a position in Nvidia. We’ve done a lot of research, and I think we’ve done a good job understanding how the environment is evolving. 01:18 In the last ad hoc “In the Know” video, I described how we anticipated that incremental market share would shift from SaaS (Software as a Service) to PaaS (Platform as a Service). Basically, this shift means you need to customize platforms to each company’s specific needs, instead of a “one-size-fits-all” SaaS model. So this change is not surprising. But the market—or rather, investors and speculators—have, as usual, thrown the baby out with the bathwater. So, as usual, we are concentrating our positions in the stocks we have the highest conviction in. As I said, most of the volatility is generated by algorithms, and algorithms don’t do the research we do. That’s why we concentrate on our highest-conviction names: the market is giving us this opportunity. That’s our view of volatility. You may remember during the tariff turmoil last April, I also said here: “Look, we think this market condition is temporary.” At the time, the market fell sharply, many people were scared, even usually calm investors who are used to volatility were shaken last year. But anyone who sold at that dramatic moment regretted it for the rest of the year. Since then, the market has rallied strongly. This market is climbing the “wall of worry.” This kind of market, which rises amid concerns, is often the strongest bull market. Although the volatility is unsettling, it’s much healthier than what we experienced during the tech and telecom bubble. During that bubble, Jeff Bezos could come out and say: “We’re losing more money because we’re investing aggressively. The internet opportunity is even bigger than we imagined.” And then the market would go up, Amazon’s stock would go up 10% to 15%. But that won’t happen today. On the contrary, now the “Mag Six” are basically saying: “We’re going to spend more money.” But investors have gotten used to these companies’ free cash flow growing steadily over the past five years or so. That is about to change. We see some more traditional investors, who mainly focus on free cash flow and margins, feeling uneasy and starting to cut positions. We don’t think that’s necessarily a good idea. We think Google, Meta, Microsoft, and Amazon should spend aggressively, because this is the biggest opportunity of our lifetimes. The issue is, as we move to agentic AI and chatbots, will this take time away from traditional social media? From a shopping perspective, will our intelligent agents do all the work online for us, causing Amazon’s take rate to decrease compared to recent years? We’ll wait and see, and will certainly watch market share changes closely, just as we accurately predicted the SaaS sector shift. Fiscal Policy: Deficits and GDP Outlook Alright, I think let’s start with the charts. I want to characterize the current environment as a macro environment similar to a period of trade turmoil, presenting huge opportunities. As I just mentioned, we’re definitely taking advantage of this volatility. Our long-term performance is built on these decisions. Let’s look at the charts. The budget deficit as a percentage of GDP once fell below 5%, but that was short-lived, until first quarter GDP data and forecasts were revised down. But we are approaching the “4 range.” Treasury Secretary Bessent’s goal is 3%. In fact, we are increasingly convinced that by the end of this presidential term (i.e., late 2028 or early 2029), we will achieve a fiscal surplus. This is because we are seeing productivity growth far exceed expectations. Some examples are just crazy, like Palantir. Its US commercial revenue grew by 142%, and I think Palantir’s sales staff actually decreased slightly. This productivity boost is astonishing—at least from a sales perspective, the increase is over 100%, even more than 140%. I think this is a mindset we all need to build, a “muscle” to exercise when we talk about how the world and companies operate. Elon Musk has thrown out some crazy numbers in his goals, and I think that’s the right mindset. Companies without this mindset will lose opportunities to more nimble competitors. We have suggested that by the end of this decade, global real GDP growth will reach 7% to 8%. Many people scoffed at this. But based on what we’re seeing, this forecast may even be too conservative. This could mean the deficit-to-GDP ratio will shrink significantly. Unless there are some foolish policies, we will turn to a surplus. The pandemic was a huge panic, which made bond markets and investors very worried. Now we’re correcting course, hopefully learning lessons, and eventually getting back to a surplus like in the 1990s—the last time a small-scale tech revolution (the internet) took place. Trade Deficit and Dollar Trends Next is another kind of deficit. In the 1970s and 80s, bond markets were very alert and focused on the “twin deficits”: one is the federal budget deficit, the other is the trade deficit. You can see what happened to the trade deficit during and after the pandemic: imports surged, we fell into a very serious deficit. As shown in the chart, this is also changing. Many in the forex market use the trade deficit to gauge the direction of the dollar. If we import much more than we export, people worry the dollar will fall. This becomes an axis in the market. As you can see, we’ve corrected this. Of course, due to tariffs and expected tariff policies, imports once plunged (due to preemptive imports), and if we’re right, now we’re seeing the opposite. The limited extent of the deficit a few months ago surprised me. If we’re right that the US will outperform expectations in real GDP growth, and US capital returns will rise due to tax cuts, deregulation, and tariffs, then we may see more import growth—not because of tariffs, but the first two reasons. We will continue to have a deficit. But we’ve never really worried about the trade deficit. Because when you look at the big picture, the other side of the trade balance (goods and services) is the capital surplus. Due to the US’s generally favorable business and capital environment, we attract funds from the rest of the world. I know people worry about the twin deficits, so I specifically talk about this. As for the trade deficit, I’ve explained why we don’t worry. On the federal deficit, we see the deficit as a percentage of GDP improving nicely. I want to describe the dollar’s trend. I know I’ve shown this chart before, and it’s another concern for outsiders. You’ll hear a lot of talk about the “end of American exceptionalism,” which may mean different things to different people. But economically, I’d say it hasn’t ended. In fact, due to the tech revolution led by the US and China, we may see an explosion in US economic activity. So I do believe the dollar will turn and move in the other direction. Of course, the dollar’s decline is mainly for political reasons. I think countries are diversifying, shifting from the dollar to gold and other currencies, but we think this will change. Given the trends in gold prices, this has reached an extreme. But look at what’s happened to the dollar. If you look at this chart, zoomed out, this isn’t a dollar collapse. If you’re a technical analyst, you’d say: “Hey, the dollar has held at expected support,” that is, the previous peak (as shown by the black line). If the dollar rises, my main point is: a rising dollar is a powerful disinflationary force. We do believe the dollar will rise and will lead to lower-than-expected inflation. Inflation, Money Supply, and Fed Policy This shows a chart comparing CPI (green line, YoY %) and M2. We are still recovering from negative M2 growth, but I think we are now stuck around 5%. As I mentioned before, we also think money velocity is starting to level off or decline. This decline or flattening will offset some of the inflation expectations associated with money growth. If you look at the green line, it seems stuck in the 2% to 3% range over the past few years. We think it will decline significantly this year. I’ve been saying this for a long time; I didn’t realize supply shocks would make inflation so sticky or last three years, which we hadn’t anticipated. But in that turbulent context, to keep it in the 2%-3% range is actually pretty good, which may support or confirm our view that inflation will decline. To give everyone a sense of monetary policy, here’s the short end of the yield curve: 2-year Treasury yields versus 3-month yields. You can see it’s still in negative territory, which means, on the margin, the Fed is not loose, actually a bit too tight. By the 10-year vs. 2-year yield indicator, it’s positive, but you can see it’s sloping downward. If the Fed eases aggressively, you’d expect this line to continue rising. If we start to see negative inflation data (which I think we will), the Fed may ease aggressively. We may have to wait for Kevin Warsh to take over to see negative inflation on a YoY basis. We know Kevin Warsh is a very disciplined economist from a monetary perspective. Hearing him say, “This AI revolution could accelerate growth in many sectors, and as monetary authorities, as long as it doesn’t create inflation, we should accommodate this real growth,” makes me very relieved. If we get negative inflation (and I think we will) and real GDP is growing rapidly, this Fed may tighten, which would be a big mistake. This Fed thinks “growth causes inflation.” Kevin Warsh is right: growth does not cause inflation. In fact, it leads to faster productivity growth, suppressing inflation. That’s the story of the magical 80s and 90s markets: real growth accelerated, inflation fell, and productivity was the main reason. Productivity and Wages Productivity is output per hour, and unit labor cost is wage growth adjusted for productivity. If you look at this chart, our current unit labor cost growth rate is about 1.2%. This is a chart many Keynesian economists have watched closely, thinking unit labor cost growth would accelerate or stay in the 5%-7% range. They didn’t predict productivity—productivity was stronger than expected; they also didn’t predict wages—wage growth was lower than expected. They learned lessons from the 60s and 70s and were left scarred. At that time, unit labor costs (as shown) soared to double digits as workers demanded higher wages to cope with soaring food and energy prices. Given the supply shocks during the pandemic, they were ready for the same thing this time. But as you can see, that didn’t happen. Any Keynesian economist has to look at this and say, “This time is different.” Even though headline data shows strong real GDP growth and low unemployment, we haven’t seen a rebound in unit labor costs. One reason is that workers haven’t made tough demands like in the 70s. Another is oil prices falling, which helps budgets on the margin. And, I think the share of union workers as a percentage of total employment has fallen below 10%, whereas in the late 70s and early 80s, it was close to a quarter. At that time, union leaders were the main force driving up hourly wages. To be clearer, if our forecast of an imminent economic boom is right, if opportunities emerge as we expect, and real growth accelerates, we don’t think we need unions. If companies use these new technologies—AI, robotics, etc.—wage growth will accelerate for a good reason: it will be a response to improved productivity for all workers. Price Trends: Real Estate, Oil, and Inflation Data Let’s talk about another reason we think inflation won’t exceed expectations. Look at real estate prices: the green line, existing home price inflation, has dropped below 1%; new home price inflation (i.e., price inflation related to new home sales) remains negative; rents are also starting to fall. These data take a long time to enter into government CPI indexes. So we think these price pressures will exert downward pressure on CPI over the next few years. We’re confident about that. Looking at oil prices, we’ve seen double-digit YoY declines. This usually happens during recessions. But now we’re seeing it globally. Of course, Saudi Arabia in the Middle East is a swing factor, and they’ve been increasing supply. I think it may be related to the political dynamics of negotiations between the Trump administration and Saudi Arabia on various matters, including defense. Here we list core CPI (purple) and core PPI (green) separately. If you look closely, you’ll see PPI inflation has exceeded CPI inflation. So those holding consumer goods company stocks may hear more about margin pressure—keep an eye out for this. This is the most important slide: Truflation (real inflation). It shows that after a few years tangled in the 2%-3% range, inflation is collapsing. As of now, the YoY reading is about 0.7%. This is a real-time indicator, monitoring 10,000 goods and services. You can see it captured the inflation peak better than CPI—it peaked near 12%, while CPI was 9%. One thing we see in the real-time data is food price inflation is falling. We’re seeing deflation in eggs and some food items that caused pain during the pandemic, which is good. But if you look at today’s food prices versus pre-pandemic levels, they’re still about 32% higher. So we think we’ll see further food price deflation—another reason inflation may turn negative. Real Economy and Consumer Sentiment On real activity, here’s the ISM manufacturing index (Purchasing Manager Index). You can see there’s been a nice rebound. We’ve described the past three years as a “rolling recession.” If you look at housing and all US manufacturing, they’ve all been below 50%. This basically indicates manufacturing has been in pain, even if technically we weren’t in a recession (as the index wasn’t negative). That’s a rolling recession. Now it seems that’s starting to change. The biggest change in this PMI is orders. The new orders index jumped from about 47 (implying contraction) to 54. Employment also increased. Although it’s not in this set of charts, another index for the service sector (not manufacturing) shows orders and employment are still above 50, but not as positive. So there are both positives and negatives. As for consumer confidence (University of Michigan data), we watch this closely. Consumers are not happy. You can talk all you want about GDP growth, or even point to the latest jobs report as evidence that all is well, but consumers aren’t buying it. Most indexes are falling, and I think the University of Michigan index shows the gloomiest (most pessimistic) consumer sentiment. Much of the fear comes from employment and affordability; even with marginal changes, consumers remain unhappy. This is one reason: look at last year’s employment revision. We got the data this week, and last year’s employment was revised down by 861,000. Think about it, that’s about 75,000 to 80,000 fewer jobs per month. At the time, many of the initial data releases were even lower than that, meaning they should have been negative. Last year was a very weak year for employment. It’s understandable that consumers are afraid about their job security. But there was some good news in the last report. We’ve been watching the 16 to 24 age group in “In the Know” for a long time, because that’s where the unemployment rate has been highest—over 12% at one point. Now you can see it’s dropped below 10%. What’s going on? It could be job improvement, or it could be that AI has become so powerful that individuals can now go out and start businesses. We think there’s a lot of entrepreneurship happening. If you look at new business formation data (which we’ll show next time), it’s growing nicely. When people are laid off or can’t find entry-level jobs, they may become consultants while building their own businesses. I do think we’ll see an explosion in entrepreneurship. We saw a chart today: if you ask CEOs, “How many of you have saved more than 8 hours a week because of AI?” the answer is about 43%. If you ask workers, only 5% say so. This may be because workers use AI to boost efficiency and then enjoy the free time. But if there’s an entrepreneurship boom, more CEOs will seek these efficiency gains. That’s another reason we expect AI proliferation to significantly boost productivity. Let’s look at a few more charts showing why consumers are uneasy. Savings rates are low, some families are living hand to mouth, unable to save due to the affordability crisis (especially housing). Their auto loan delinquencies are rising. Subprime loans (purple line) are very high relative to 2008-2009 levels. In 2008-2009, people chose to default on their mortgage before defaulting on their car loan, because there was no Uber or Lyft at the time. Today is different, which may explain why auto loan delinquencies are surging in what’s supposedly a growth environment. Also, refunds (tax refunds) are surging starting this week. We think there will be a burst by the end of March, putting money in the pockets of those living paycheck to paycheck, who may be able to save or enjoy life a bit more. Existing home sales is a shocking datapoint. I digest economic data daily and rarely get surprised, but seeing this number fall further after mortgage rates dropped 90 basis points, even hitting lows, surprised me. As I mentioned, prices are falling month-on-month, and YoY growth is only 0.9%. This is interesting—the market lacks enough confidence to buy, or rates aren’t low enough, or prices aren’t low enough. Builders now have an incentive to lower prices and continue subsidizing mortgage rates to clear inventory. If inventory can’t be cleared, that’s another reason prices will fall. Government Data Distortions and Macro Inference Before leaving economic indicators, on the employment data revision, I want to say: government statistics are so messy, inaccurate, and flawed. They were born in the industrial era, and now we’re not only in the digital era, but also in the AI era. Change is too fast, and due to the index structure, they can’t keep up. Sorry if this sounds a bit esoteric, but if employment is really much lower than initially reported, what does that mean for GDP accounting? GDP accounts are more accurate than employment indicators because GDP has another side called gross national income (GNI). This is pretty accurate in terms of cash turnover, sales reports, wage reports, all from tax records. While there are statistical differences, if fewer people are employed, it means productivity is underestimated, real GDP growth is underestimated, and—most crucially—inflation is being seriously overestimated. We think real inflation may align more with Truflation’s data (below 1%) than what government statistics show. Market Indicators: Gold, Bitcoin, and the Crypto Ecosystem Now for market indicators. The S&P 500 index relative to gold—we’re watching this. In the 1970s, this was an important warning signal (from 1966 to 1982, the S&P basically went nowhere). Of course we don’t want to enter such a period, nor do we think we will. But even with the Dow at new highs, seeing this ratio fall is a little uncomfortable. But look at the S&P 500 index relative to oil prices. In the 1970s, the S&P’s performance against oil was the same as against gold. Now it’s the opposite. This is more important, because falling oil prices are like a tax cut for consumers and businesses. We’re happy to see this decoupling. And as I’ve mentioned before, gold is a bit “over its skis.” Looking at gold’s ratio to M2, it’s never been so high, even higher than in the late 1970s (when inflation was double digits) and the Great Depression. We must admit, gold has outperformed bitcoin by a lot. Bitcoin is, in a sense, caught in a “risk-off” dynamic, with wholesale selling in some sectors—“sell first, ask questions later.” This has happened in SaaS, wealth management, and trucking brokerage. This algorithmic selling has certainly hurt bitcoin, because many people don’t treat bitcoin as a store of value or safe haven in turbulent times, the way they do gold. We don’t get this, because we think gold supply growth is accelerating, while bitcoin supply growth cannot accelerate. We’ve discussed quantum computing and concerns in the bitcoin community, especially as ETFs bring in more new holders, potentially more fragile ones. When facing risk, they sell first. Still, you can see bitcoin’s uptrend—higher highs and higher lows—hasn’t been broken. Although we broke below a certain level in 2024, the overall uptrend remains intact. Technical analysts are all watching the chart now, and you’ll find we’re right at the 2017 top, which is also a marker. There’s also support in the 20-22-23k area, when bitcoin was actually a haven for those worried about the regional banking crisis evolving into a GFC-style counterparty risk event in 2008-2009. That can’t happen to bitcoin. If you want to hedge counterparty risk, I encourage everyone to do self-custody, because ETFs now change the ownership dynamic. It’s a tough time, and I don’t like periods like this because I worry about our clients. But we use these times to buy in the crypto space. You can see everyone’s fear. I recently joined a company called LayerZero as an advisor. From a decentralized finance (DeFi) perspective, they’re trying to “go back to the future,” not compromising with Layer 2s like Ethereum, but developing an ecosystem for this new era (the agentic AI era). In this era, there will be massive machine-to-machine (M2M) transactions, needing to handle 2 million to 4 million transactions per second. Ethereum can only handle 13, Solana maybe 2,000. So in tough times, the builders in this community are hard at work. Our research is finding these new approaches, as people are starting to discuss them more in the context of the existing DeFi ecosystem. Conclusion: Comparing to the Internet Bubble Finally, I want to summarize. Unlike the tech and telecom bubble, the current opportunity is real. In that bubble, people were extremely speculative. Now, people are scared to death. As a portfolio manager in the innovation space, I prefer today’s fear and climbing the “wall of worry” to the speculative excesses of the tech bubble era. Some may say AI is experiencing a bubble, and that’s part of what the market is worried about. But we don’t think so. All our research shows we’re at a stage equivalent to 1996 in the tech or internet revolution, at a very early stage. Of course, later it went into hyperdrive and became crazy. But in 1996, Fed Chair Greenspan talked about “irrational exuberance.” That scared people, because they thought he’d tighten policy to curb speculation, but he actually said he wouldn’t do that—he’d let the market operate. Because of what happened after that, we all learned a lot of lessons. Today’s market bears these “scars” because those who experienced the tech bubble are now the veterans of our industry. They have that scar tissue or muscle memory, and as the most sophisticated investors, they say: “I want to protect my company from such risks.” I think it’s this mindset that maintains the fear and the “wall of worry.” Market volatility can be uncomfortable. But like last April, these may be important opportunities to invest in “the next big thing.” We are ready for prime time. We can see the AI explosion, and we can feel the ground shifting under our feet. I can now see and hear CEOs saying: “Wow, we have to do something about this.” So I think momentum will continue to build. Most importantly, stand on the right side of change. Thank you all, and have a great long weekend.
Over $321M in Token Unlocks Set for ZRO, ARB, SOL, and DOGE This Week
This week’s biggest cliff unlocks will be by Kanye West’s YZY token which will release 17% of its supply, while Kaito releases 10%. The largest linear unlock will be by RIVER at 6.4%, but RAIN’s 9.46 billion token unlock will have the highest dollar value at $93.46 million. It’s yet another week when over $300 million will hit the market in new tokens released via cliff and linear token unlocks. As CNF reported, the first week of February saw $400 million worth of tokens unlocked, with HYPE’s $304 million topping the charts. The second week welcomed $278 million, with Avalanche and Aptos as the main culprits. This week, around $320 million will hit the market in both linear and cliff unlocks, adding supply pressure to a struggling market. The sector has lost over $100 billion in the past 24 hours for a $2.34 trillion market cap, with some like XRP, Dogecoin and Monero losing over 10% of their value. According to Tokenomist, over the next 7 days, single large unlocks (greater than $5 million each) will include ZRO, YZY, ARB, and KAITO; linear large unlocks (daily unlocks greater than $1 million) will include RAIN, SOL, CC, TRUMP, RIVER, WLD, DOGE, and ASTER, with a total… pic.twitter.com/oWCnfiU8aB — Wu Blockchain (@WuBlockchain) February 16, 2026 According to the Tokenomist, cliff unlocks will amount to $109.8 million this week. LayerZero’s ZRO will add the highest dollar value to the market this week, releasing 12.7% of its circulating supply, currently valued at $43.2 million. The unlock comes at a time when the token has been getting battered. In the past 24 hours, it has shed 11% of its value to trade at $1.66 at press time for a $497 million market cap. It’s currently trading 78% below its all-time high, which it hit at the end of 2024, at $7.52. Its current circulating supply is 298 million, but its maximum supply is set at one billion tokens; the 26 million tokens entering the market this week are one of many scheduled unlocks as the project aims to have the 700 million locked tokens finally released. YZY, ARB, KAITO Unlocks YZY, the Solana-based token tied to Ye, formerly known as Kanye West, has the second-largest unlock by dollar value, releasing $20.34 million into the market. However, it tops the charts for tokens released compared to circulating supply at 17%. YZY’s 62.5 million released tokens will bring the circulating supply to 362.5 million tokens, with the hard cap set at one billion tokens. Image courtesy of Tokenomist. YZY trades at $0.3258, dipping slightly in the past day. Since its spike to $0.83 at launch, it has been steadily losing its value. At launch, the token was accused by one blockchain analytics firm of rug-pulling investors, with 11 wallets making all the money as retail lost millions of dollars. Arbitrum and Kaito are the other notable linear unlocks this week. ARB worth $10.52 million, or 1.6% of its circulating supply, will enter the market, while $10.08 million in KAITO, amounting to 13.5% of the supply will be released. On the linear side, BTC continues to dominate, with miners earning new tokens worth $35 million today alone. RAIN’s $13.2 million and SOL’s $5.78 million are the other big releases today. Cumulatively, $711 million will enter the market this week from both linear and cliff unlocks. This will be the lowest amount in unlocks for the next four weeks. The headline maker is the week of March 9, where $4.84 billion will hit the market. Image courtesy of Tokenomist.
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