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gate Research Institute: USDT weekly net inflows hit a new high for 2022, with the presale of $PAIN becoming the largest-scale Meme project in Solana's history
Summary
Market Review
Popular Tokens
According to Gate.io market data [9], combined with the trading volume and price performance in the past 24 hours, the popular altcoins are as follows:
EMYC —— Single-day increase of approximately 127.13%, with a circulation market value of 240 million US dollars
E-money Network is the world's first public permissioned blockchain network that supports on-chain KYC and AML, enabling retail users and institutions to integrate real-name authentication (KYC) and anti-money laundering (AML) processes through the establishment of bank-level secure infrastructure that meets MiCA standards. Recently, the project announced its formal participation in the Circle Alliance Program to promote the development of E-money Card and IBAN account linking services, accelerating the application landing in the real world. In response to this positive news, the price of $EMYC surged sharply in the short term, and market attention continued to increase. [10]
PMX —— Daily increase of approximately 43.99%, circulating market value of 3.98 million US dollars
Primex Finance is a non-custodial protocol that fundamentally changes the way users participate in decentralized finance, providing a comprehensive platform for leverage trading and yield farming on spot DEX, and offering leverage and portfolio automation experience.
Recently, Primex Finance announced that it has fully switched to $PMX as the utility token. Users can earn $PMX through staking, paying protocol fees, and participating in the Primex Rewards Program, and as a result, the price of $PMX has surged by 43.99% in a single day. [11]
XYO —— Single-day increase of approximately 20.18%, with a circulating market value of $308 million
XYO is a decentralized physical infrastructure network (DePIN) ecosystem, consisting of consumer software, developer tools, and blockchain data network. The core token is XYO, and users can earn rewards by contributing data.
Recently, XYO announced that Sky Wee, an influencer in the cryptocurrency and gaming fields, has been appointed as a strategic advisor, which has enhanced market confidence in its future development. Sky Wee, as a seasoned investor, has played a significant role in multiple Web3 and blockchain projects. In addition, the market's attention to the DePIN ecosystem has been rising, which may also help drive demand for XYO tokens, or as a result, XYO prices have continued to rise. [12]
Highlight Data
USDT single-week net inflow of $2.72 billion, hitting a new high since 2022
A total of 2.72 billion USDT has flowed into the exchange this week, setting a record for the highest weekly net inflow since 2022. This growth coincides with the market downturn and has triggered a large-scale liquidation, indicating that traders are transferring stablecoins to the exchange to replenish leverage positions or as a safe haven. The inflow of stablecoins is usually seen as a signal of increased market activity, but in the current market volatility, the subsequent fund flow still deserves attention.
Mining company BitFuFu announces January mining data, expands computing power and launches optimization plan
Mining company BitFuFu Inc. recently announced the Bitcoin mining situation in January 2025. The company's self-mining produced 83 BTC this month, and 200 BTC were produced for cloud mining customers, with a total BTC holding of 1,742. To further expand the mining scale, BitFuFu plans to launch 2,000 S21XP miners in March and intends to acquire a 51 MW mining facility in the United States to improve operational efficiency. Currently, the company's managed total computing power is 20.2 EH/s, and the capacity of the hosting facility is 424 MW, mainly distributed in Ethiopia and the United States.
In addition, the number of registered users on the BitFuFu cloud mining platform has reached 598,785, and the BitFuFuOS power regulation software has been launched, supporting various overclocking and underclocking modes, with a maximum increase of 20% in mining income. As a leading global Bitcoin mining platform, BitFuFu relies on strategic cooperation with Bitmain to provide secure, compliant blockchain infrastructure and efficient mining solutions [14].
USDC Treasury minted 68.92 million USDC on Ethereum, enhancing market liquidity
According to Whale Alert monitoring, USDC Treasury has minted approximately 68.92 million USDC on Ethereum, further expanding the market supply. This minting may be related to institutional fund flows, cross-chain application growth, and increasing demand in the DeFi sector.
Recently, as the market's reliance on stablecoins deepens, the circulation of USDC on Ethereum, Solana, and Layer 2 networks continues to rise to meet the demand for payment settlement and liquidity. This move by USDC Treasury may be preparing for upcoming large-scale settlements or market capital inflows, further strengthening its competitiveness in the multi-chain ecosystem. [15]
Hotspot Review
$PAIN pre-sells 186,000 SOL, one of the largest-scale Meme projects in Solana history
The Solana ecosystem meme project $PAIN, incubated by Memeland, raised 186,000 SOL, about $38 million, in two days, becoming one of the largest meme presales in history. The project is inspired by the famous meme character 'Meme Grandpa' András István Arató, and the brand effect has attracted a large amount of funds. However, although the official heavily uses Arató's related images, there is no evidence that he authorized the issuance of $PAIN tokens. In addition, during the presale, whales actively participated, with the top 20 addresses holding 31.87% of the tokens, and the short-term selling pressure risk cannot be ignored.【16】As the launch approaches, the project team announced that 80% of the presale funds will be returned, leaving only 37,000 SOL as operating funds, and has been transferred to the new address painvault.sol. However, the token distribution method has not been announced, and there is uncertainty in the market trend, so investors need to be cautious.【17】
US Congress Focuses on Cryptocurrency Debanking, FDIC Policy Shift Raises Concerns
The U.S. House Financial Services Committee recently held a hearing to discuss the regulatory pressure on banks and crypto companies. Republican lawmakers accused the Biden administration of hindering innovation, while Democrats believe that strengthening regulation is based on risk considerations. Meanwhile, the Senate Banking Committee also discussed similar issues, highlighting the clear division within the U.S. political sphere regarding crypto regulation.
In addition, the court has required FDIC to accelerate the disclosure of regulatory documents, and after Travis Hill, the newly appointed acting chairman of FDIC under the Trump administration, took office, the agency has released a large number of relevant documents, indicating a possible shift in regulatory policy. Senator Cynthia Lummis also disclosed internal documents of the Federal Reserve, further strengthening the allegations against 'Operation Chokepoint'. These developments reflect the changing regulatory environment for cryptocurrencies in the United States, and future congressional hearings will continue to focus on the direction of the industry. [18]
Ondo Finance launches Layer 1 public chain Ondo Chain
Ondo Finance announced the launch of Ondo Chain, a Layer 1 public chain designed specifically for the institutional financial market, aiming to address the infrastructure barriers of tokenized securities (RWA) in the current public chain and promote the chain-based globalization of the global capital market.
Ondo Chain combines the openness of public chains with the compliance of permissioned chains, providing institutions with a highly secure solution for RWA issuance, management, and cross-chain liquidity. Its main features include an institution-level network security model based on RWA collateral, a regulated validator network, seamless connection with traditional financial networks, on-chain oracle, and native cross-chain communication mechanism. Ondo Chain also adopts a native asset reserve proof mechanism to ensure transparency and sufficient collateral for RWA issuance. The launch of this innovative public chain may further drive institutional capital into the blockchain market and promote the integration of DeFi with traditional securities markets. [19]
Financing Information
According to RootData, only 1 project announced financing in the past 24 hours, with a financing amount of 1.1 million euros, involving the RWA sector: [20]
Fraktion - Fraktion has completed a seed round financing of 1.1 million euros, with participation from Cabrit Capital, Tezos Foundation, Vox Capital, and well-known angel investors such as Olivier Huby (formerly of MFEX), Andréa Bensaïd (Eskimoz), and Guillaume Mayot (Lukeion). This funding will be used to support the development and growth of its platform. Fraktion focuses on tokenizing assets, providing user-friendly interfaces and efficient decentralized solutions to promote asset circulation and liquidity enhancement.
Airdrop opportunity
Side Protocol
Side Protocol is the first protocol in the Bitcoin ecosystem to support non-custodial lending, using DLC technology to avoid cross-chain bridge risks, aiming to build on-chain banking infrastructure. Founded by a team of senior professionals in the crypto industry, the project has received investments from a16z, etc. The mainnet was launched on February 5th, and the $SIDE token can be used for staking, paying Gas fees, and other purposes. [21]
Participation Method:
Tip: Airdrop plans and participation methods may be updated at any time. Users are advised to follow Side Protocol's official channels for the latest information. At the same time, users should participate cautiously, be aware of risks, and conduct sufficient research before participating. Gate.io does not guarantee the subsequent distribution of airdrop rewards.
Reference:
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