Yihui's Trend Research Reports ETH's Total Loss in This Round to be Approximately $734 Million

February 7th: Per Onchain Lens monitoring, a whale dormant for two years withdrew 34,233 ETH (valued at $68.78 million) from Binance. Over the past 24 hours, this whale has withdrawn a total of 44,233 ETH (worth $88.02 million) from the exchange.

On February 7, Avalanche announced that its C-Chain now supports ERC-8004, allowing developers to natively deploy AI agents on Avalanche with on-chain identity, discovery, and portable reputation.

February 7th Main selling pressure in the crypto market this week stemmed from Bitcoin spot ETF outflows, forced liquidations tied to sharp price drops, and collateral impacts from altcoin sell-offs—factors that amplified volatility. Some investors stepped in to buy the dip, however, sparking a rapid short-term rebound. Most market participants still remain cautious about whether a bottom has been reached. Crypto research firm 10X Research noted Bitcoin could see a brief countertrend rebound or consolidation in the near term—but may hit a new low this summer. Markus Thielen, the firm’s research director, estimates the subsequent low could fall to $50,000, or even trade in a $40,000-$50,000 range. (CNBC)

**On-chain Alert (Feb 7)** Per on-chain monitoring data from onchainschool.pro, ~$560k worth of CYS tokens were transferred from 4 wallets to exchange Gate over the past 30 minutes. These tokens trace back to multiple wallets that previously received funds from a shared ownership contract. Separately, centralized exchanges (CEXs) processed large CYS withdrawals totaling ~$3.3 million in the past week. The tokens are currently held in user wallets.

February 7th — Over the past two weeks, the crypto market has cooled off, with total cryptocurrency market capitalization dropping sharply below $2.4 trillion. Still, the stablecoin market cap remains elevated. Per DefiLlama data, the total stablecoin market cap now stands at $307.152 billion, holding near all-time highs. USDT currently holds a 60.28% market dominance. Notably, the WLFI-backed stablecoin USD1 has seen significant growth: its circulating market cap jumped 50.64% over the past month to $5.217 billion.

On February 7, The New York Times reported that on-chain prediction platforms operate in an emerging space with no clear NBA regulatory rules, placing the sector in a gray area. NBA Commissioner Adam Silver now faces a key dilemma: whether players converting their trades into financial products violates league regulations. Reports indicate Giannis Antetokounmpo—nicknamed "The Greek Freak"—specifically announced his stake in sports prediction platform Kalshi Sports after the NBA’s player trade deadline, when all betting markets had settled, thereby avoiding direct compliance scrutiny during the trade window. Wagering on whether Antetokounmpo would be traded before the deadline topped $23.31 million on Kalshi, while the Milwaukee Bucks announced hours prior to the deadline they would not trade the two-time MVP this season.