DWallet Labs Launches Testnet, Wormhole Collaborates With AMD, Inco Secures $4.5M, and Meso Network Raises $9.5M
According to CoinDesk, DWallet Labs has announced the testnet launch of dWallet Network, a first-of-its-kind composable modular signature network. The dWallet Network introduces a new primitive for multi-chain collaboration in Web3, called dWallets, which is a noncollusive and massively decentralized signing mechanism that can be used as a building block on L1s and L2s to sign native transactions to all chains.
In other news, Wormhole, a blockchain interoperability platform, has announced a collaboration with microprocessor maker AMD. This collaboration will make enterprise-grade AMD FPGA hardware accelerators available to the Wormhole ecosystem, including the AMD Alveo™ U55C and U250 adaptable accelerator cards. AMD will also lend its deep hardware acceleration expertise to help deliver speed and scalability to multichain applications being built with Wormhole.
Inco, a leading developer of a universal confidentiality layer for Ethereum and other networks, has secured $4.5 million in a seed round led by 1kx and launched its testnet Gentry. The testnet addresses Web3's confidentiality challenges, blending EVM with FHE and secured by Ethereum via EigenLayer. With native on-chain confidentiality and randomness, Inco empowers diverse dApps including gaming, DeFi, private lending, and blind auctions.
Lastly, Meso, a payment platform connecting banks and blockchains, announced it has raised $9.5 million in a seed round, co-led by Solana Ventures and Ribbit Capital, with participation from 6th Man Ventures, Canonical Crypto, Phantom Co-Founder Chris Kalani, Pinterest CEO Bill Ready, and Archie Puri of Bodhi Labs. The network was launched by veterans from PayPal, Venmo, and Braintree, and allows apps to integrate Meso to onboard users without first sending them off to a centralized exchange to fund their wallets.

US Stocks Rise as Nvidia Shares Soar to Record High
According to BlockBeats, on February 22, US stocks opened higher with the Dow Jones Industrial Average gaining around 240 points, the S&P 500 Index rising 1.39%, and the Nasdaq Composite Index increasing 2.05%. Nvidia (NVDA.O) shares surged over 11% after its earnings report, reaching a new all-time high.
Boosted by Nvidia's strong performance, US chip stocks rose across the board. AMD (AMD.O) shares climbed over 5%, Taiwan Semiconductor Manufacturing Company (TSM.N) gained 3.2%, and Intel (INTC.O), Amazon (AMZN.O), and Qualcomm (QCOM.O) each rose approximately 2%.

Fintech dApp Startup Clave Raises $1.6 Million in Pre-Seed Funding Round
According to BlockBeats, fintech dApp startup Clave has successfully raised $1.6 million in a pre-seed funding round. The round was led by Matter Labs, with participation from Safe, Lambda Class, Mirana Ventures, and angel investors Sandy Peng of Scroll, Raj Parekh of Portal, Anurag Arjun of Avail, and several industry leaders.
Originating from Opclave, which debuted at the 2023 ETHGlobal Scaling Ethereum Hackathon, Clave aims to provide a simpler blockchain experience for everyone. The company is currently developing a non-custodial wallet designed to offer users a friendly, comprehensive financial experience through hardware-level security elements, such as Passkeys. Additionally, Clave is introducing account abstraction features to simplify wallet creation and usage. Users can create accounts with a single click, receive and send tokens using links and nicknames, and even split bills with friends.

Cryptocurrency Price Surge Driven by Retail Traders, Not Institutions, Says JPMorgan Analysts
BTC
$51,429.6
+0.05%
ETH
$2,961.5
+0.97%
According to PANews, JPMorgan analysts, led by Nikolaos Panigirtzoglou, have suggested that the recent surge in cryptocurrency prices appears to be driven by impulsive decisions made by individual traders rather than institutional investors or market fundamentals. In a report published on Thursday, the analysts wrote, "Similar to stocks, we find a rebound in retail impulsiveness in cryptocurrencies in February, which could be the reason for the strong rebound in the cryptocurrency market this month."
The analysts stated that retail impulsiveness can be clearly seen by analyzing the cumulative on-chain Bitcoin flow, differentiating between large and small wallets, and adjusting for the inflows of new spot Bitcoin ETFs. They added, "This adjustment is necessary because the Bitcoin held by retail investors has already been transferred to the new spot Bitcoin ETFs, which technically are held by larger institutional wallets, even if the ultimate investors are retail." Another indicator of retail interest in cryptocurrencies can be seen in the growing popularity of artificial intelligence and meme tokens, with their share in the overall crypto market value rebounding in February.
The recent retail impulsiveness can be attributed to three main upcoming crypto catalysts: the Bitcoin halving event, Ethereum's next major upgrade, and the prospect of a spot Ethereum ETF being approved in the United States in May. However, the analysts reiterated that the first two catalysts "have largely been digested" and the likelihood of the Ethereum ETF being approved in May is only 50%.

Valkyrie Launches Bitcoin Futures Leveraged Strategy ETF
BTC
$51,429.6
+0.05%
According to PANews, Valkyrie, a Bitcoin ETF provider, has announced the launch of the Valkyrie Bitcoin Futures Leveraged Strategy ETF (NASDAQ stock code: BTFX), with advisory services provided by its registered investment advisor subsidiary, Valkyrie Funds LLC.
The fund is a leveraged Bitcoin futures ETF designed to provide daily investment returns, before fees and expenses, approximately equal to twice the daily return rate of the S&P CME Bitcoin Futures Index, with a single-day term, primarily achieved through investing in Bitcoin futures contracts. Previously, Valkyrie had launched a spot Bitcoin ETF with the stock code BRRR.

Ripple's Price Shows Bullish Rebound Amid Rising Crypto Market
XRP
$0.5
-0.31%
According to CryptoPotato, Ripple's price has recently demonstrated a bullish rebound as the crypto market has been rising. However, the market structure is yet to turn positive against USDT, while against BTC, XRP is still digging lower.
In the USDT paired chart, the price has rebounded from the $0.5 support level and is currently testing the higher boundary of the large descending channel. The 200-day moving average, located around the $0.55 mark, is also being tested. A breakout above this moving average could finally initiate a bullish trend, as the market structure would shift in favor of the buyers.
On the other hand, against BTC, things are not looking good for Ripple. The price has been on a constant decline over the last nine months and does not seem to slow down. With the recent drop below the 1300 SAT level, the market is seemingly targeting the 800 SAT support zone in the coming weeks. The RSI also shows values below 50%, indicating a lower potential continuation.

Optimism to Retire OP Goerli and Transition to OP Sepolia Testnet on March 7
OP
$3.6
-1.41%
According to PANews, Optimism's OP Labs announced on the X platform that it will retire the OP Goerli testnet on March 7. The company has been working with its partners to simplify the transition process over the past few months. This is the final call for users to migrate to the fully supported OP Sepolia testnet to meet all testing and development needs.
The retirement of OP Goerli marks a significant milestone for Optimism, as it moves towards a more robust and reliable testing environment. The OP Sepolia testnet offers improved features and support, ensuring a smoother experience for developers and users alike. The transition to OP Sepolia is expected to benefit the overall development and growth of the Optimism ecosystem.
Optimism encourages users to make the switch to the OP Sepolia testnet as soon as possible to avoid any disruptions in their testing and development processes. The company remains committed to providing a seamless experience for its users and fostering innovation within the blockchain industry.

Ondo Finance Integrates Tokenized US Treasury-Backed Product onto Aptos Network
APT
$9.2
+0.93%
According to CoinDesk, Ondo Finance, a tokenized real-world asset (RWA) platform, has integrated its tokenized U.S. treasury-backed product (USDY) onto Layer-1 Aptos. Aptos, founded by ex-Meta employees Mo Shaikh and Avery Ching, is the latest network to offer Ondo’s USDY. The U.S. dollar yield token is also available on Ethereum, Solana, and Mantle. USDY is a token secured by short-term U.S. Treasuries and bank demand deposits.
The USDY integration is part of a wider partnership between Ondo and the Aptos Foundation. Both firms will explore solutions that combine on-chain and real-world asset yields onto Aptos. This will include developing new staking and re-staking processes that improve the utility of tokenized assets and the capital efficiency of the platforms that support them. Bashar Lazaar, head of grants and ecosystem at Aptos Foundation, said that Ondo Finance's native integration onto Aptos is a step forward for accessible and seamless financial services.
Ondo will also integrate with Thala, a decentralized finance (DeFi) protocol built on Aptos. USDY will go live on Thala’s automated market maker pools, offering better liquidity options for users. Thala is the largest Aptos-based protocol in terms of total value locked (TVL), according to data from DeFiLlama.

Ethereum Faces Resistance at $3,000 Level, Bullish Continuation Possible
ETH
$2,961.5
+0.97%
According to CryptoPotato, Ethereum's price action has been bullish in recent weeks, breaking through several resistance levels. However, the price has now reached a key level that might cause problems. On the daily chart, the price has been rallying after rebounding from the $2,200 support level a month ago. Both the $2,400 and $2,700 resistance levels have been broken with ease, and the price has also pushed above the large ascending channel. The $3,000 resistance level is currently being tested, and the market is failing to climb higher. ETH’s price might decline toward the $2,700 level in case a correction occurs before breaking higher.

Euler Finance Announces Relaunch and Upcoming v2 Version After Recovering Stolen Funds
According to BlockBeats, Euler Finance, the lending protocol that suffered a $197 million theft in March last year, has announced its relaunch on platform X and the upcoming release of its v2 version. The company stated that the v2 version will be a modular lending platform, offering 'unlimited customization features and seamless liquidity connections.'
In March 2023, Euler Finance fell victim to a hacker attack, resulting in a loss of $197 million. However, after successful negotiations, the hacker returned all the stolen funds in early April. The relaunch and introduction of the v2 version signal a new beginning for the lending protocol, as it aims to provide enhanced security and functionality for its users.

Eigen Labs Raises $100 Million for Crypto Restaking Project EigenLayer
According to CoinDesk, Eigen Labs, the developer behind the crypto restaking project EigenLayer, has raised $100 million from venture capital investor a16z crypto. The company confirmed the investment in a thread on social media platform X. EigenLayer is at the center of a new blockchain-industry trend known as 'restaking,' where Ethereum's ether (ETH) tokens that are deposited or 'staked' as security for the main blockchain can be repurposed to secure additional networks and protocols.
Restaking is gaining traction in the decentralized finance landscape, even though EigenLayer is not yet live. The project is built atop Ethereum and aims to revolutionize the way tokens are staked and utilized within the blockchain ecosystem. The substantial investment from a16z crypto highlights the growing interest and potential of restaking projects in the blockchain industry.

Grayscale Reduces GBTC Holdings While ETFs Increase Bitcoin Holdings
BTC
$51,429.6
+0.05%
According to PANews, on February 22, Grayscale's GBTC reduced its holdings by 2,652 BTC (approximately $135.8 million). Meanwhile, eight ETFs increased their holdings by 3,301 BTC (approximately $169 million), with BlackRock adding 1,891 BTC (approximately $96.8 million) to its holdings.
The data, monitored by Lookonchain, highlights the shifting landscape of institutional investment in Bitcoin. Grayscale's GBTC has been a popular choice for investors seeking exposure to the cryptocurrency, but the recent rise in ETF offerings has provided alternative options for institutional investors.
As the market continues to evolve, it remains to be seen how Grayscale and other investment vehicles will adapt to the changing preferences of investors. The increase in ETF holdings suggests that these products are gaining traction among institutional investors, potentially signaling a shift in the way Bitcoin is accessed and managed by large-scale investors.

WLD Price Briefly Touches $9, Gains 38.88% In 24 Hours
WLD
$8.5
+34.13%
According to BlockBeats, on February 23, the price of WLD briefly touched $9 before retreating to $8.65. This represents a 24-hour increase of 38.88%.

Pixels Game Reaches Record Daily Active Users and Announces Upcoming Updates

According to BlockBeats, Pixels, a blockchain-based game, has reached a new historical high with 264,000 daily active users (DAU) on February 20th. The game's founder, Luke, announced the milestone in the official Discord community.
In the announcement, Luke also mentioned that new content updates would be introduced within the week. Additionally, significant updates to the core content of the Pixels game are planned for the next two to three weeks. These updates will include the introduction of new industries and changes to resource collection methods.

Ethena Protocol's TVL Reaches $285 Million with 4,455 Users
According to BlockBeats, Ethena Labs, the developer of USDe, has announced that the total value locked (TVL) in the Ethena protocol has reached $285 million, with 4,455 users participating. In addition, the USDe Curve pool participating in the 'Shard Campaign' event has temporarily reached its deposit limit. As per the previous official announcement, the project will continue to increase the limit in the future.
USDe is an Ethereum-based stablecoin backed by derivatives, which achieves price stability through 'delta neutral' hedging in centralized and decentralized venues. To create USDe, Ethena allows users to use US dollars, ETH, or liquidity pledge tokens as collateral.

Ethereum Tops DEX Trading Volume with a 45% Increase to $1.515 Billion
ETH
$2,932.6
+0.33%
Data from DeFiLlama shows a significant surge in the transaction volume on Decentralized Exchanges (DEXs) built on the Ethereum blockchain on February 19. The volume spiked up to US$1.515 billion, marking a substantial increase of approximately 45% from the previous day's volume of just over US$1.043 billion. Ethereum's DEXs dominated the market, ranking first among other blockchain networks.
Meanwhile, DEXs on the Solana blockchain reported a transaction volume standing at US$656.17 million, grabbing the second spot on the ranking. Following closely behind, Blockchains having smart contract capability, such as the Binance Smart Chain (BSC) saw its DEXs' trading volume for the day amount to US$585.83 million, which secured it a third-place position.

Ethereum Tops DEX Trading Volume with a 45% Increase to $1.515 Billion
ETH
$2,932.6
+0.33%
Data from DeFiLlama shows a significant surge in the transaction volume on Decentralized Exchanges (DEXs) built on the Ethereum blockchain on February 19. The volume spiked up to US$1.515 billion, marking a substantial increase of approximately 45% from the previous day's volume of just over US$1.043 billion. Ethereum's DEXs dominated the market, ranking first among other blockchain networks.
Meanwhile, DEXs on the Solana blockchain reported a transaction volume standing at US$656.17 million, grabbing the second spot on the ranking. Following closely behind, Blockchains having smart contract capability, such as the Binance Smart Chain (BSC) saw its DEXs' trading volume for the day amount to US$585.83 million, which secured it a third-place position.

Ethereum Layer 2 Total Value Locked To Reach $26.74 Billion: Manta Pacific Record a 7.55% Increase, Reaching $1.8 Billion
ARB
$2.0
-3.13%
OP
$3.8
-2.30%
The total value locked (TVL) on Ethereum's Layer 2 has registered a substantial rise, reaching $26.74 billion, according to the data provided by L2BEAT. Over one week, this indicates an increase of 8.36%.
In the breakdown of the top five locked positions, Arbitrum One leads the pack with a TVL of $12.66 billion, reflecting an increase of 5.48% over the past week. Following Arbitrum One, OP Mainnet has a TVL of $7.31 billion, marking a significant 7-day increase of 15.86%.
Moreover, Manta Pacific's TVL has grown to $1.8 billion, demonstrating a 7-day increase of 7.55%. On the other hand, the Base platform reported a TVL of $844 million, a moderate increase of 1.78% over the past week. Conversely, Metis witnessed a decrease, with the TVL falling by 3.62% in a week to stand at $713 million.

Bitcoin (BTC) Rebounds Briefly to 52,000 USDT Benchmark
BTC
$51,948.4
-0.89%
According to Binance market data, Bitcoin (BTC) rebounded briefly crossing the 52,000 USDT benchmark and is now trading at 52,021.04 USDT, a drop of 0.63% in 24 hours.
Bitcoin
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GSR Withdraws 6.8 Million OCEAN from Binance Following a 50% Price Surge
OCEAN
$0.7
-3.58%
Scopescan monitoring reveals that the OCEAN token has exhibited an impressive performance over the past two days, showing a price increase of 50%. In the wake of this uptick, GSR has responded by withdrawing a substantial amount of 6.8 million OCEAN tokens (valued at $4.68 million) from Binance.