DeFi slowly recovers while NFT fever abates – February’s monthly report

cryptoslateОпубликовано 2022-03-11Обновлено 2022-03-11

Введение

February saw a steady run of applications in the blockchain sector despite declining macroeconomic conditions triggered by the conflict in Ukraine.

February saw a steady run of applications in the blockchain sector despite declining macroeconomic conditions triggered by the conflict in Ukraine. DeFi recovered slowly, with some blockchains and cryptocurrencies showing a modest recovery.

Footprint Analytics data shows DeFi’s TVL at $207.2 billion, up 1.06% MoM, while BTC and ETH are up about 10% MoM. Most notably, Terra surpassed BNB Chain to become the No. 2 blockchain on the network with $18.83 billion, and the price of its token, LUNA, soared to $91, up 75.8% MoM.

Conversely, the NFT market is cooling in terms of the monthly trading volume. This report will analyze the overall situation of the crypto market in February according to data.

BTC, ETH Up About 10%, Liquidation Funds Down 95.53%

In February, the price of BTC hovered between $37,000 and $44,000 and the price of ETH between $2,600 and $3,200, neither of which had recovered from last November’s peak.

Here’s how the Russian invasion of Ukraine affected the price of BTC and ETH:

  • On Feb. 24, Russia announced a “military operation”, causing BTC and ETH prices to fall along with global financial markets.
  • In late February, cryptocurrencies were increasingly used to fund humanitarian and military aid as the Russia-Ukraine conflict and ensuing economic sanctions exposed the need for a decentralized ecosystem, and cryptocurrency prices clearly increased.

According to Footprint Analytics price trends, as of Feb. 28, the price of BTC was $43,286 and the price of ETH was $2,929.53, up about 10% sequentially. This also means that cryptocurrency prices are highly correlated with national policies and macroeconomic conditions.

Footprint Analytics - Price & Trading Volume of BTC 
Footprint Analytics - Price & Trading Volume of BTC 

Footprint Analytics – Price & Trading Volume of BTC

Footprint Analytics - Price & Trading Volume of ETH
Footprint Analytics - Price & Trading Volume of ETH

Footprint Analytics – Price & Trading Volume of ETH

The conflict between Russia and Ukraine is what triggered the liquidation of more than 80% of investors in the AAVE lending agreement on Feb. 24. However, compared to January, the amount liquidation in February fell from $425 million to $18.96 million, a decrease of 95.53%.

Footprint Analytics – Liquidation Amount of BTC by Protocols

Footprint Analytics – Liquidation Amount of ETH by Protocols

DeFi Slowly Recovering, Up 1.06% MoM

Following the trend of a full downturn in the DeFi market in January, February saw a slow recovery.

TVL recovered to $207.18 billion from $205.02 billion, ending the month with a slight 1.06% increase in TVL. Despite the modest increase in TVL, the overall size of the market remains above $200 billion.

Footprint Analytics – TVL of DeFi

Lido’s Single Currency Staking Model Helps Terra Overtake BNB Chain

Terra overtook BNB Chain for the second spot with $18.83 billion in lockup volume in eight months and pulled away from BNB Chain in February. Of course, Terra TVL’s growth is fueled by the Lido and Anchor protocols.

Footprint Analytics –  TVL for BNB Chain & Terra

Footprint Analytics –  Market Share of TVL for Chains

LUNA is Terra’s native token and, as of Feb. 28, the price of LUNA has increased from $52.31 at the beginning of the month to $91.01, up 75.8% MoM.

LUNA’s growth is due to two main factors:

  • Terra and Luna Foundation Guard (LFG), the non-profit organization supporting Terra, announced on Feb. 23 a $1 billion LUNA Token sale to help develop the Terra ecosystem to create a decentralized foreign exchange reserve to protect the UST (TerraUSD) peg to the U.S. dollar.
  • Lido supports several mainstream blockchains, and the largest share of Lido TVL is currently Terra (about 55%). Lido also has innovative tokenomics, which support staking single currency (e.g. staking LUNA to get 1:1 price stLUNA) to external contracts for a higher APY.

Footprint Analytics –  Terra TVL by Protocol

Fixed-Rate Lido and Anchor, Fastest Growing in DeFi

Curve and MakerDAO are still untouchable, they are tied to a stablecoin and their stability is trusted by most users.

Among the many DeFi protocols, the most prominent and fastest-growing are Lido (+46%) and Anchor (+52%), with TVLs of $11.2 billion and $10.3 billion respectively, outpacing protocols such as Compound and Uniswap v3. Both Lido and Anchor are deployed on Terra, which uses an algorithmic stablecoin as an entry point to give users a UST stablecoin for saving and lending.

Footprint Analytics – TVL by Protocols(Feb. 28, 2022)

NFT Trading Volume Down 67% in February Compared to January

According to Footprint Analytics data, NFT transaction volume in February was $2.787 billion, down a whopping 67% from January.

Does it appear that investor interest in NFT is declining? Actually, for NFTs, since January’s numbers were at a high level, the drop in February’s trading volume may have been a simple pullback.

On top of that, investors’ attention has shifted to cryptocurrencies amid the conflict between Russia and Ukraine, and they see BTC as a safe haven

Footprint Analytics – NFT Monthly Trading Volume

OpenSea Becomes a Target for LooksRare and X2Y2

In February, OpenSea’s trading volume growth slowed significantly, especially since Feb. 14, when the average daily trading volume trended downward. This may be related to the phishing attacks on OpenSea and the volatile global market situation.

However, the slowdown in OpenSea has led to the rise of emerging exchanges  LooksRare and X2Y2. In early February, LooksRare managed to attract a major share of OpenSea’s NFT trading volume, but the short-term incentive program did not threaten OpenSea’s dominance

Footprint Analytics – Comparison of Volumes in February

Footprint Analytics – Monthly Number of Users

Terraforms and Meebits are the Most Prominent NFT Projects

According to Footprint Analytics, Terraforms and Meebits saw a spike in transactions from Feb. 16 to 21, with volume reaching $56 million.

Older NFT programs such as Axie Infinity and Bored Ape Yacht Club have more consistent trading volumes and are the most engaged by users.

Footprint Analytics – Monthly Top 10 NFT Trading Volume

Monthly Investment Volume Fell 19.6% MoM

Data shows that investments in February were $4.7 billion, down 19.6% compared to January. In terms of investment sectors, the NFT sector saw the biggest drop as investors have shifted their attention to cryptocurrencies and reduced their investments in NFT.

In contrast,  Web3-based technologies are becoming more important as decentralized systems become more mainstream. In addition, a16z is also the largest investor in the Web3 sector, with a team of former officials from across the U.S. government. This drove the largest increase in Web3 investments in February (+79% MoM).

Footprint Analytics – Funding Monthly Investment Trend

Footprint Analytics – Funding Monthly Investment by Category

Summary

In February, despite the bearish environment, adoption in the blockchain sector continued steadily and trend slightly upwards. In addition, the Russian-Ukrainian conflict and economic sanctions exposed the need for a decentralized ecosystem.

On the other hand, NFTs faced a sharp drop in trading volume and a shift of investors to the Web3 sector, expecting it to recover to its January peak in March.

February Events Review

Nations

  • Ukraine has raised $16.7M in cryptocurrency donations
  • ECB President calls for approval of cryptocurrency regulatory framework to avoid Russia evading sanctions
  • South Africa to finalize amendments to financial law in 2022 involving  cryptocurrency-related regulations
  • Argentina’s Central Bank sets new rules for digital wallets
  • Bitcoin legal tender bill to be proposed in Mexico

Fundraising

  • Blockchain storage app ArDrive completes $17.2M seed round led Arweave team
  • Web3 infrastructure provider Aligned completes $34M in financing with Gsr and Others
  • Hack VC raises $200M fund to back Early-stage crypto startups
  • NFT platform ucollex completes $10M series a financing led by Animoca Brands
  • Brazilian crypto exchange foxbit raises $21M in Series A Funding
  • Payment Technology Company Flutterwave announced that it had completed a $250M Series D Financing at a Valuation of $3B, led by B Capital Group

Blockchain

  • The number of ETH locked in the ZkSync L2 Network has exceeded 90,000, and the TVL has reached $75M
  • Terra, CEO Do Kwon ordered to comply ith SEC subpoena related to mirror protocol investigation
  • TVL of Avalanche Bridge reaches $6.238B
  • Eden Network, Ethereum’s Priority Trading Network, releases a POS chain expansion plan

DeFi

  • Short positions see $143M in liquidations as BTC, ETH gain 10%
  • Yearn.Finance has been deployed on the Ethereum Layer 2 solution Arbitrum
  • PancakeSwap DEX reportedly set to block users from Iran
  • MakerDAO launches $10M bug Bounty on Immunefi
  • Wavebridge releases Chainlink node to bring digital asset index data to DeFi

NFT

  • OpenSea phishing email attack again, the official reminder to pay attention to the risk
  • Top NFT game Axie Infinity generated $1.3B in revenue last year
  • ENS domain name ‘defi.eth’ traded on OpenSea for 40 ETH
  • Indian media giant’s fully Faltoo NFTs sell out in 48 hours
  • NFT marketplace X2Y2 begins vampire attack on OpenSea
  • CryptoPunk #5822 was sold for 8,000 ETH, the highest price in the history of this series of NFTs

Security

  • Multichain recovers $2.6M stolen funds, to reimburse losses on condition
  • Titano Finance was hacked for 4828.7 BNB

Похожее

Blockmaze Defines the Future of RWA Tokenisation with Compliance-First Infrastructure for a $500T On-Chain World

Blockmaze, a regulated ecosystem for tokenized real-world assets (RWAs) backed by Finvasia Group, is launching compliance-first infrastructure to bridge traditional finance and blockchain. It aims to solve the critical challenge of connecting digital tokens to legally recognized ownership and regulatory frameworks. With licenses across eight jurisdictions and over 45 regulatory registrations, Blockmaze provides a platform for issuers and institutions to tokenize assets like real estate, stocks, and commodities securely and compliantly. The goal is to unlock institutional trust and accelerate the transition of a portion of the estimated $500+ trillion global asset market onto the blockchain. The company's CEO, Tajinder Virk, emphasizes that the future of tokenization hinges not just on technology, but on regulated infrastructure that ensures legal recognition and trust.

TheNewsCrypto8 мин. назад

Blockmaze Defines the Future of RWA Tokenisation with Compliance-First Infrastructure for a $500T On-Chain World

TheNewsCrypto8 мин. назад

ETH Bull and Bear Views Compilation: Can Ethereum's Value Flow Back to ETH?

Titled "ETH Bull and Bear Views: Can Ethereum's Value Flow Back to ETH?", this article synthesizes the current heated debate around Ethereum's native token, ETH, following Bankless co-founder David Hoffman's decision to sell his entire ETH holdings. The **bullish case**, represented by figures like Tom Lee (BitMine CEO) and Raoul Pal, argues that ETH's core thesis remains intact. They contend Ethereum is the essential, secure, and neutral foundational layer for future finance—encompassing stablecoins, RWA, DeFi, L2s, and Agentic AI. Bulls bet on ETH's long-term revaluation as institutional adoption of on-chain finance grows, with significant buying activity from entities like BitMine and Consensys cited as evidence. Conversely, the **bearish perspective**, led by Hoffman and analysts like Markus Thielen, questions ETH's value capture mechanism. They acknowledge Ethereum's network success but argue that the value created by L2s, DeFi, and applications does not sufficiently accrue to the ETH token itself. Bears point to ETH's prolonged underperformance versus the broader crypto market, lack of traditional cash flows, weakening "ultrasound money" narrative, and apparent institutional retreat (e.g., Harvard Management Company exiting its ETH ETF position) as key concerns. The debate highlights a pivotal shift: ETH is no longer just a community belief asset. The central question is whether ETH can transition from being a "**used infrastructure**" to a "**continuously bought and held core asset**" as more value enters the Ethereum ecosystem. The market is now critically examining the direct link between network growth and ETH's value.

marsbit40 мин. назад

ETH Bull and Bear Views Compilation: Can Ethereum's Value Flow Back to ETH?

marsbit40 мин. назад

Crypto is dead, Perps are forever

The crypto industry is shifting from a focus on creating native assets (like altcoins and protocol tokens) to becoming a "global asset pipeline." Native cryptocurrencies, except for Bitcoin, are seen as failing in their value storage and utility promises, with demand driven largely by speculation. Attention and liquidity are now moving toward real-world assets (RWAs) like U.S. stocks, bonds, gold, and oil traded on-chain via perpetual contracts (Perps). Stablecoins like USDT and USDC set the precedent, proving blockchain's core strength is efficient global settlement and transfer, not inventing new monetary systems. Meanwhile, assets like Ethereum and many DeFi tokens struggle as their narratives weaken against tangible traditional assets and the rapid real-world progress of AI. Perpetual contracts have emerged as a pivotal innovation. They simplify trading by offering pure price exposure to any asset, bypassing complexities of ownership, custody, and traditional market hours. Projects like Hyperliquid gained traction by combining CEX-like efficiency with on-chain transparency, capitalizing on post-FTX distrust, macroeconomic volatility, and the surge in demand for 24/7 stock trading. In conclusion, while the era of speculative native "crypto assets" may be over, perpetual contracts persist as the industry's most potent financial instrument—transforming all assets into globally accessible, constantly tradable instruments centered on price speculation.

marsbit45 мин. назад

Crypto is dead, Perps are forever

marsbit45 мин. назад

Tencent, Alibaba, ByteDance in a Battle for the Skill Store

Skill is becoming a key concept in the AI field, essentially serving as a structured "instruction manual" for AI Agents that specifies tool calls, decision logic, and output standards. This allows Agents to execute predefined tasks. As the number of Skills grows, distribution platforms have emerged. Major tech companies are swiftly entering this space. In March, Tencent, Alibaba, and ByteDance launched Skill stores within their respective Agent platforms. Subsequently, players like Zhipu AI, Meituan, and Xiaohongshu joined the fray. This competition for the "Skill store" is fundamentally a battle for the AI-era user entry point; whoever controls distribution controls the users. While ByteDance's Coze has experimented with paid Skills, most platforms offer them for free. The real value lies not in the stores themselves but in using them to attract and retain users within an ecosystem, driving revenue from services like cloud computing, model calls, or advertising. The landscape features three main player types: 1) **Internet giants** (e.g., Alibaba, ByteDance, Tencent, Meituan), leveraging Skills to drive traffic and monetize through their broader ecosystems (cloud services, transactions, ads). 2) **Large model companies** (e.g., Zhipu AI, Moonshot AI), using Skill stores to increase user engagement and monetize model API calls. 3) **Content platforms** (e.g., Xiaohongshu), treating Skills as a new content format to generate traffic and ad revenue. However, transforming Skill stores into a sustainable business faces significant hurdles. Key challenges include: the **difficulty in pricing Skills** due to inconsistent outputs across different models and contexts; **lack of cost transparency** (varying token consumption); **security risks** like Skill poisoning; and the **absence of standardized protocols** for development and evaluation. Unlike standardized mobile apps, Skills are often personalized workflows resistant to uniformity, which hinders the establishment of a reliable review and monetization system akin to the App Store. While there is genuine user demand for paid Skills—particularly in enterprise (e.g., contract review) and certain personal productivity scenarios—current platforms offer developers limited and unpredictable distribution. The future of Skill stores depends on overcoming these standardization, evaluation, and safety challenges to make acquiring a Skill as straightforward as downloading an app. For now, the stores function more as display shelves than robust marketplaces.

marsbit45 мин. назад

Tencent, Alibaba, ByteDance in a Battle for the Skill Store

marsbit45 мин. назад

The Crypto Scene Is Dead, Perpetual Swaps Are Eternal

The crypto industry is undergoing a fundamental shift. The era defined by minting novel, native digital assets (altcoins) is fading. These assets, lacking real-world cash flows or clear value, are losing relevance as attention and capital flow elsewhere. Two powerful external forces are reshaping the space. First, traditional assets like U.S. stocks, bonds, gold, and oil are being tokenized and traded on-chain. Second, the explosive growth of AI, with its tangible products, has overshadowed crypto's once-dominant "future narrative." This marks a critical pivot: crypto is transitioning from being a "factory for new assets" to becoming a "global conduit for existing assets." Its validated utility is not complex financial reinvention but efficient global settlement, transfer, and trading—the original promise of blockchain. Stablecoins like USDT and USDC exemplify this, offering faster dollar movement rather than replacing it. Consequently, native ecosystems like Ethereum face profound challenges. While still crucial infrastructure, ETH struggles to capture value as users interact with Layer 2s or trade traditional assets without needing to hold it. DeFi's grand narrative of rebuilding finance has narrowed to core needs like cheap transfers and deep liquidity. The true breakout innovation is the perpetual contract (Perp). It brilliantly bypasses the complexities of direct asset ownership (custody, compliance, dividends) by creating pure price exposure. Users can speculate on the price movement of *any* asset—NVIDIA, gold, oil—24/7, globally, and with leverage. This "price casino" model, while risky and ethically fraught, delivers unmatched liquidity and accessibility. Projects like Hyperliquid succeeded not by inventing new mechanics but by perfecting the timing and execution of this model. Key drivers included making on-chain Perps feel like centralized exchanges, post-FTX trust migration towards transparency, and rising demand to trade macro assets and equities round-the-clock. In conclusion, the crypto world's most enduring successes are the dollar (via stablecoins), Bitcoin, and trading. Its new frontier is not creating alternative assets but providing a seamless, perpetual trading layer—a new API—for the world's existing financial system. The age of native altcoins is over; the age of perpetual synthetic exposure has begun.

Odaily星球日报54 мин. назад

The Crypto Scene Is Dead, Perpetual Swaps Are Eternal

Odaily星球日报54 мин. назад

Торговля

Спот
Фьючерсы

Популярные статьи

Тест по Bitcoin Биткоина

HTX Learn: Изучите Bitcoin halving и Заработаете Токены USDT

3.1k просмотров всегоОпубликовано 2024.04.16Обновлено 2024.04.16

Тест по Bitcoin Биткоина

Что такое $BITCOIN

ЦИФРОВОЕ ЗОЛОТО ($BITCOIN): Комплексный анализ Введение в ЦИФРОВОЕ ЗОЛОТО ($BITCOIN) ЦИФРОВОЕ ЗОЛОТО ($BITCOIN) — это проект на основе блокчейна, работающий в сети Solana, который стремится объединить характеристики традиционных драгоценных металлов с инновациями децентрализованных технологий. Хотя он носит имя Биткойн, часто называемого “цифровым золотом” из-за его восприятия как средства хранения ценности, ЦИФРОВОЕ ЗОЛОТО является отдельным токеном, предназначенным для создания уникальной экосистемы в ландшафте Web3. Его цель — позиционировать себя как жизнеспособный альтернативный цифровой актив, хотя детали его применения и функциональности все еще развиваются. Что такое ЦИФРОВОЕ ЗОЛОТО ($BITCOIN)? ЦИФРОВОЕ ЗОЛОТО ($BITCOIN) — это токен криптовалюты, специально разработанный для использования в блокчейне Solana. В отличие от Биткойна, который выполняет широко признанную роль хранения ценности, этот токен, похоже, сосредоточен на более широких приложениях и характеристиках. Примечательные аспекты включают: Инфраструктура блокчейна: Токен построен на блокчейне Solana, известном своей способностью обрабатывать высокоскоростные и недорогие транзакции. Динамика предложения: ЦИФРОВОЕ ЗОЛОТО имеет максимальное предложение, ограниченное 100 квадриллионами токенов (100P $BITCOIN), хотя детали о его обращающемся предложении в настоящее время не раскрыты. Утилита: Хотя точные функциональные возможности не описаны, есть указания на то, что токен может быть использован для различных приложений, потенциально связанных с децентрализованными приложениями (dApps) или стратегиями токенизации активов. Кто создатель ЦИФРОВОГО ЗОЛОТА ($BITCOIN)? На данный момент личность создателей и команды разработчиков, стоящих за ЦИФРОВЫМ ЗОЛОТОМ ($BITCOIN), остается неизвестной. Эта ситуация типична для многих инновационных проектов в области блокчейна, особенно тех, которые связаны с децентрализованными финансами и феноменом мем-криптовалют. Хотя такая анонимность может способствовать культуре, ориентированной на сообщество, она усиливает опасения по поводу управления и ответственности. Кто инвесторы ЦИФРОВОГО ЗОЛОТА ($BITCOIN)? Доступная информация указывает на то, что у ЦИФРОВОГО ЗОЛОТА ($BITCOIN) нет известных институциональных спонсоров или значительных венчурных капиталовложений. Проект, похоже, функционирует по модели пирингового взаимодействия, сосредоточенной на поддержке и принятии сообществом, а не на традиционных путях финансирования. Его активность и ликвидность в основном сосредоточены на децентрализованных биржах (DEX), таких как PumpSwap, а не на устоявшихся централизованных торговых платформах, что еще больше подчеркивает его подход, ориентированный на grassroots. Как работает ЦИФРОВОЕ ЗОЛОТО ($BITCOIN) Операционные механизмы ЦИФРОВОГО ЗОЛОТА ($BITCOIN) можно подробно описать на основе его дизайна блокчейна и характеристик сети: Механизм консенсуса: Используя уникальный механизм доказательства истории (PoH) Solana в сочетании с моделью доказательства доли (PoS), проект обеспечивает эффективную валидацию транзакций, что способствует высокой производительности сети. Токеномика: Хотя конкретные дефляционные механизмы не были подробно описаны, большое максимальное предложение токенов подразумевает, что оно может быть предназначено для микротранзакций или нишевых случаев использования, которые еще предстоит определить. Интероперабельность: Существует потенциал для интеграции с более широкой экосистемой Solana, включая различные платформы децентрализованных финансов (DeFi). Однако детали относительно конкретных интеграций остаются неуточненными. Хронология ключевых событий Вот хронология, которая подчеркивает значимые вехи, касающиеся ЦИФРОВОГО ЗОЛОТА ($BITCOIN): 2023: Первоначальное развертывание токена происходит в блокчейне Solana, отмеченное его адресом контракта. 2024: ЦИФРОВОЕ ЗОЛОТО приобретает видимость, когда оно становится доступным для торговли на децентрализованных биржах, таких как PumpSwap, позволяя пользователям обменивать его на SOL. 2025: Проект наблюдает спорадическую торговую активность и потенциальный интерес к инициативам, возглавляемым сообществом, хотя на данный момент не зафиксировано никаких значительных партнерств или технических достижений. Критический анализ Сильные стороны Масштабируемость: Основная инфраструктура Solana поддерживает высокие объемы транзакций, что может повысить полезность $BITCOIN в различных сценариях транзакций. Доступность: Потенциально низкая цена торговли за токен может привлечь розничных инвесторов, способствуя более широкому участию благодаря возможностям дробного владения. Риски Отсутствие прозрачности: Отсутствие публично известных спонсоров, разработчиков или процесса аудита может вызвать скептицизм относительно устойчивости и надежности проекта. Волатильность рынка: Торговая активность сильно зависит от спекулятивного поведения, что может привести к значительной волатильности цен и неопределенности для инвесторов. Заключение ЦИФРОВОЕ ЗОЛОТО ($BITCOIN) является интригующим, но неоднозначным проектом в быстро развивающейся экосистеме Solana. Хотя он пытается использовать нарратив “цифрового золота”, его отход от установленной роли Биткойна как средства хранения ценности подчеркивает необходимость более четкого различения его предполагаемой утилиты и структуры управления. Будущее принятие и усвоение, вероятно, будут зависеть от решения текущей непрозрачности и более четкого определения его операционных и экономических стратегий. Примечание: Этот отчет охватывает синтезированную информацию, доступную на октябрь 2023 года, и с тех пор могут произойти события.

99 просмотров всегоОпубликовано 2025.05.13Обновлено 2025.05.13

Что такое $BITCOIN

Fractal Bitcoin: масштабирование Биткоина с помощью рекурсивной системы

Fractal Bitcoin — масштабное Layer-1-решнение, созданное на базе кода Биткоина, позволяющего достигать бесконечного масштабирования с помощью рекурсивного подхода.

2.3k просмотров всегоОпубликовано 2025.06.30Обновлено 2025.06.30

Fractal Bitcoin: масштабирование Биткоина с помощью рекурсивной системы

Обсуждения

Добро пожаловать в Сообщество HTX. Здесь вы сможете быть в курсе последних новостей о развитии платформы и получить доступ к профессиональной аналитической информации о рынке. Мнения пользователей о цене на BTC (BTC) представлены ниже.

活动图片

Топ вопросы

Популярные категорииright-arrow

Популярные тегиright-arrow