Suspected Sonic Labs-Related Address Transfers 11.78 Million S Tokens to Binance, Valued at Approximately $5.55 Million

On February 12, on-chain analyst Ai Auntie (@ai_9684xtpa) noted that two new addresses—likely controlled by the same entity—opened positions 7 hours ago using 985.92 PAXG, valued at roughly $5.014 million. The pair of addresses entered their positions around the same time and each sent small ETH transfers to a separate new address, exhibiting matching behavioral traits.

According to Ashes Monitor, on February 12th—two hours after LayerZero revealed plans to launch its Layer 1 mainnet Zero—Alameda Research’s liquidation address sold 129 million STG tokens (12.9% of STG’s total supply) for 11.142 million ZRO tokens (roughly $24.29 million).

On February 12, TheStreet reported that the cryptocurrency market has yet to recover from the October 11 crash. The total market capitalization of digital assets has fallen from $3.1 trillion a month ago to $2.3 trillion currently. Despite broad bearish sentiment in the market following the crash, JPMorgan remains bullish on the crypto space for 2026. The bank recently noted that institutional inflows and regulatory clarity are expected to solidify gains in the digital asset market. In a report, the JPMorgan analyst team led by Nikolaos Panigirtzoglou wrote: “We’re bullish on the 2026 crypto market—we expect further inflows into digital assets, but this round of growth will be driven more by institutional investors.” JPMorgan analysts currently peg Bitcoin’s production cost at roughly $77,000 per coin, which could form a new price equilibrium level after miner capitulation. If BTC trades below this threshold for an extended period, it may force some miners to exit the market.

On February 12, Onchain Lens monitoring showed a newly created wallet deposited 5.1 million USDC into Hyperliquid and opened a 1x-leveraged short position on GOLD.

February 12th — Per Decrypt, Coinbase has launched Agentic Wallets, positioning the offering as payment infrastructure directly integrated into Coinbase’s existing custody and compliance system, not merely an agent framework. Coinbase Developer Platform Engineering Manager Erik Reppel said in an interview: “This isn’t an SDK, nor a library — it’s a wallet built specifically to let AI agents operate as quickly as possible. It’s not AI itself, but users can give it to AI agents, and those agents will be great at using it.”