Last week, the crypto market was like bull market coming. In addition to the sharp rise in BTC price, which became the focus of investors' discussion, WLD also took advantage of the trend, and its price and market value reached new hight. The popular project Starknet even airdropped 700 million coins to 1.29 million addresses. According to the market price of 1.8 dollars, the total size of the airdrop is nearly 1.26 billion dollars. The strong performance of the market seems to have exceeded people's expectations and imagination.

Last week (2.12-2.18), there were 21 global blockchain financing events, with the total amount of funds exceeding 140 million dollars:


About MetaStreet
MetaStreet is a liquidity expansion protocol for the NFT credit market. Its main product is a capital vault that provides secondary market liquidity for NFT-backed notes. Participants can deposit funds to earn profits from a diversified investment portfolio of NFT-backed notes.
Previously, MetaStreet announced the launch of the ERC404 governance token MSTR, aimed at addressing project liquidity adjustments and exploring synergies between NFTs and governance tokens. MetaStreet claims that MSTR will redefine NFT finance and push the project into the final stage of decentralization.

About Lava Network
Lava Network's seed round financing was led by Jump Capital, Hashkey Capital, and Tribe Capital, with participation from North Island Ventures, Dispersion Capital, Alliance DAO, and Finality Capital Partners.
Executives from Celestia, Cosmos, StarkWare, Filecoin, and other blockchain ecosystems also participated in this round of financing. Lava plans to launch its mainnet in the first half of this year.

Bloomberg data shows that nearly $2.50 billion flowed into the US spot Bitcoin ETF last week, with BlackRock's IBIT accounting for about 58% of the total this week; 9 new spot Bitcoin ETFs purchased 273,500 BTC in 26 trading days, worth $14 billion.

Coinbase and Robinhood's Q4 reports last year indicate that retail investors have begun to cautiously return to the cryptocurrency field, although they have not yet plunged into it as they did in the last bull market three years ago. In addition, Arca trader Kyle Doane said, "There are signs that retail investors are starting to return to the market, but not yet to the extent of the last bull market."

Google Trends shows that the online search volume for the term "Bitcoin" surged in the first half of January when ETFs first appeared, then plummeted. Recently, there have been several significant increases, indicating that retail investors are beginning to pay attention to the market but have not yet fully engaged. At the same time, the download volume of top cryptocurrency trading applications widely used by retail traders has not yet reached the level of the bull market.

According to market intelligence firm Sensor Tower, Binance's app downloads reached 10 million times in the fourth quarter of last year, up from 9 million times in the third quarter and up from 8.10 million in the last three months of 2022; while in the second quarter of 2021, Binance's downloads reached 25.80 million times.
In addition, Coinbase app downloads rose 13% quarter-over-quarter in the fourth quarter of last year, but still fell year-over-year: its 1.70 million app downloads in the fourth quarter were only a small fraction of the company's peak 10.80 million downloads in the second quarter of 2021.

During the Chinese New Year, the price of Nervos Network rose sharply, with a weekly increase of up to 210%, currently priced at $0.0114, with a total market value of $485 million. The main reason is that Nervos Network launched the RGB ++ protocol (an improved version of RGB), which maps Bitcoin transactions to the Nervos blockchain. RGB ++ is expected to bring Bitcoin and the Nervos blockchain closer by making all RGB ++ transactions appear on both the Bitcoin and Nervos blockchains.

However, the current Nervos ecosystem is still relatively weak, and the market popularity of the project is limited to the imagination of Bitcoin smart contracts brought by the RGB ++ protocol. However, its specific engineering implementation still needs time to prove.

Nervos Network is a first-layer public chain based on POW. Each native token CKB corresponds to 1 Byte of storage space on the Nervos CKB network. Nervos Network uses a dual-layer network architecture to separate the storage and computing functions of blockchain. RGB is a Bitcoin-based protocol that brings smart contract functionality to Bitcoin and the Lightning Network.

In the past week, the floor price of blue-chip NFT Pudgy Penguins has continuously reached historical highs. On February 17th, the floor price of Pudgy Penguins broke through 22.65 ETH, with a 24-hour increase of 13.71%, which is higher than the 22.55 ETH floor price of BAYC series NFTs. From the K-line perspective, there is still some potential for upward movement. However, in terms of trading volume, BAYC still ranks first.

The main reason why the floor price of Pudgy Penguins briefly exceeded that of BAYC this time is that Pudgy Penguins successfully broke through the circle at Web2 point by relying on a good operation strategy, and Yuga Labs' large plate made it impossible to Refined Operation.
In particular, the acquisition of the much-criticized Moonbirds team Proof by BAYC's parent company Yuga Labs has led to the overall dilution of the value of Yuga's NFTs and the slow delivery of products, resulting in a relatively negative attitude in the community as a whole.
Pudgy Penguines relies on marketing strategies, has 1.306 million fans on INS, and billions of GIF expression package views. In addition, several fat penguins are used to make non-invasive IP authorization toys. As of September 2023, the cumulative sales on Amazon exceeded 400 million US dollars, and even surpassed Barbie dolls on the bestseller list.

After the launch of OpenAI's SoraAI model, the price of WorldCoin reached a historic high. According to CoinGecko data, the price of $WLD rose strongly last week and has multiplied several times, now quoted at 6.59 dollars. Its market value is currently close to $900 million. Other artificial intelligence-related tokens have also been boosted in the past few days, with CoinGecko's AI token list rising by about 25% last week.

It is reported that $WLD has received support from Tools of Humanity, which is co-founded and chaired by Sam Altman. At the same time, Altman is also the CEO of OpenAI. On February 16th, the company launched Sora, an AI model that allows users to convert text into video. The token has responded to news related to OpenAI in the past. In November 2023, when Altman was "expelled" by the OpenAI board of directors, the token price fell sharply.
On February 16th, OpenAI announced the launch of a new artificial intelligence system, Sora, which can create realistic videos up to one minute long based on text prompts. These videos can showcase complex scenes with multiple characters, actions, precise themes and backgrounds. OpenAI CEO Sam Altman stated that this tool will initially only be available to a few creators.

Note: The above data is sourced from https://platform.arkhamintelligence.com/and is as of February 19, 2024, 12:00 AM (UTC+8).

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As the market gradually rises, a large amount of funds have flowed into BTC spot ETFs in the past week. Although retail investors are cautious, they are gradually returning to the crypto market. The floor price of Pudgy Penguins once surpassed BAYC. After OpenAI released Sora, the price of related AI tokens hit a new high. All of this is conveying the breath of spring to people, allowing us to see the gradual increase in market heat. It seems that the bull market is not far away from us.

What we are looking forward to next includes the announcement of the ether.fi token economic model, popular token unlocks and airdrop applications, as well as multiple important network upgrades and token unlocking plans, which will further affect market dynamics and bring new vitality to the market. We look forward to seeing more exciting news this week and welcoming the spring breeze of the cryptocurrency market.

Note: All of the above opinions are not investment advice. If there are any inappropriate points, please feel free to leave a message to correct them.

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