Analysis: Ethereum Price Drop Triggers Surge in Token Transfer Activity, Extreme Movement May Signal Seller Exhaustion

**February 11 – Cleveland Fed President Hammack said Tuesday that interest rates could stay at current levels for an extended period as officials weigh incoming economic data.** “Instead of fine-tuning the federal funds rate, I’d prefer to be patient and cautious while assessing the impact of recent rate cuts and monitoring economic performance,” Hammack told an audience in Columbus, Ohio. “Based on my outlook, we may keep rates unchanged for quite a long time.” Hammack has repeatedly urged her Federal Open Market Committee (FOMC) colleagues to exercise caution on rate cuts to avoid reigniting inflation. She backed the decision to hold rates steady last month, following three Fed rate cuts in late 2025. Dallas Fed President Logan also spoke Tuesday, supporting the current stance of keeping rates on hold unless the labor market shows new “substantial” softness. “We’ll learn in the coming months whether inflation is returning to our target and whether the labor market can sta

Spot trading for RaveDAO ($RAVE) on Coinbase will go live on February 11, 2026, with the RAVE-USD pair opening at or after 9:00 AM PT.

On February 11th, GMGN monitoring data shows the Base ecosystem has recently seen a sharp uptick in activity, with several on-chain ecosystem tokens posting notable gains. Notably, meme coin CLAWNCH surged 30% in just one hour, pushing its market cap above $15 million—now at $15.2 million—with 24-hour trading volume hitting $3 million. BlockBeats reminds users: meme coin trading is extremely volatile, driven heavily by market sentiment and hype, with no tangible value or practical use case. Investors are advised to exercise caution.

February 11 – Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region, said Wednesday Hong Kong is increasingly emerging as a key hub for Web3 and cryptocurrency innovation. She delivered opening remarks at **Consensus Hong Kong** (hosted by CoinDesk) in a prerecorded address, outlining the city’s efforts to support the crypto community and industry. “The Hong Kong SAR Government is committed to making Hong Kong a global hub for digital asset innovation,” she stated. “Over the past few years, we’ve actively built a regulatory framework to drive robust, sustainable growth of our Web3 ecosystem.” Lam highlighted Hong Kong’s unique advantages: its ability to capitalize on the booming crypto sector while leveraging proximity to mainland China and global financial markets. “Under the ‘one country, two systems’ principle, Hong Kong is the only city combining the strengths of China and the world,” she said. “Most importantly, our financial system is strong—with dee

As of February 11th, on-chain data analyst Yu Jin’s monitoring indicates Bitmine restaked 140,400 ETH (valued at ~$2.82 billion) 5 hours earlier. Currently, Bitmine holds a total of 4,325,738 ETH, with 3,037,859 ETH staked—pushing its staking ratio to over 70%. Based on the current 2.8% annual staking yield, Bitmine’s annual staking income totals ~85,000 ETH (~$172 million), averaging ~233 ETH (~$470,000) daily.

**Crypto Bear Market Tied to 4-Year Cycle, Not Single Culprit: Bitwise’s Hougan** On February 11th, Bitwise Asset Management CIO Matt Hougan told CNBC’s *ETF Edge* that the crypto market’s three prior bear markets stem from its "four-year cycle"—pushing back against the idea of a single villain for Bitcoin’s current pullback. Hougan noted investors are now favoring alternative popular assets like gold and AI stocks over crypto. He added there’s "some quantum computing risk" and market jitters around Fed Chair nominee Kevin Warsh, emphasizing these factors get amplified in bear markets. Still, he argued Bitcoin’s weakness won’t derail crypto-focused ETF momentum, citing the market’s current "self-fulfilling prophecy" dynamic. Beneath the surface, good news is unfolding slowly, Hougan said—adding Bitcoin’s financialization doesn’t undermine its scarcity case. "It may shift intraday or short-term trading, but the 21 million total supply is a fundamental fact: all derivative de