Analyst: Filecoin's Revenue Yesterday Was Only $4, Severely Disconnected from Its Fully Diluted Valuation of $17.16 Billion

On February 24, Federal Reserve’s Bullard said he’s optimistic about further rate cuts this year if inflation starts moving back toward the central bank’s target. (Forex Live)

**Bitcoin Drops Below $63k on Tuesday Amid Geopolitical Risks, Tariff Tensions** February 24, CNBC reported Bitcoin fell below the $63,000 level on Tuesday as investors navigated rising tariff tensions and broader geopolitical risks. Christopher Hamilton, Invesco’s Head of Client Investment Solutions for Asia Pacific, noted the crypto’s decline is less a crypto-specific shock and more a classic risk-off move. “This isn’t a structural unwind—it’s likely tactical derisking,” Hamilton added.

**February 24th Update** Bitfinex Alpha’s latest report notes Bitcoin remains locked in range-bound consolidation, with its February 5 pullback marking the deepest decline of the current cycle to date. Volatility has cooled and momentum has weakened, signaling the market is shifting from liquidation-driven drops to a more balanced environment. On-chain data shows most of the recent sell-off was absorbed by the $60,000–$69,000 demand zone. Holders in this range are near breakeven and have largely avoided accelerated selling, which has stabilized prices and spurred further consolidation. Bitcoin ETFs posted net outflows of around $166 million last week, while Ethereum products continue to see redemptions—indicating institutional accumulation has yet to resume. Though weekend inflows delivered initial stability signals, overall liquidity remains depressed. The risk-reward ratio is shrinking toward historical defensive levels, reflecting limited capital inflows into the network.

On February 24th, market sources report that Meta Platforms (META.O) has struck a major deal with AMD (AMD.O), committing billions of dollars to purchase artificial intelligence hardware. Per Bitget market data, AMD’s pre-market stock price surged 14.46% to $225.01.

**Binance Wallet Launches Irys Trading Competition on Binance Alpha** Per an official announcement, Binance Wallet has rolled out an Irys (IRYS) trading competition on Binance Alpha. Participants who trade IRYS via Binance Wallet (non-custodial) or Binance Alpha will qualify to share exclusive token rewards. The event runs from 9:00 PM GMT+8 on February 24, 2026, through 9:00 PM GMT+8 on March 3, 2026. Ranking is based on participants’ total accumulated IRYS purchase volume during the competition. The top 2,000 users will split 5,000,000 IRYS tokens evenly — each receiving 2,500 IRYS.

**IoTeX L1 Network Back Online, Upgrade Complete; New Blacklist Feature Launches, Compensation Plan Coming Soon** Per official IoTeX updates, the project’s Layer 1 (L1) network resumed full operations and finished a system upgrade on February 23, 2026. A new default blacklist feature is now active, built to automatically filter malicious Externally Owned Accounts (EOAs) and boost network security. A comprehensive compensation plan for users affected by bridged asset issues will be announced within the next 24 hours. Earlier reports confirmed IoTeX had contained the security incident’s impact, with total losses estimated at roughly $2 million. The team also offered a 10% bounty for recovering stolen funds, noting hackers who return the assets within 48 hours will not face legal action.