{"id":74985,"date":"2023-03-03T14:36:45","date_gmt":"2023-03-03T12:36:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74985"},"modified":"2025-09-10T02:53:26","modified_gmt":"2025-09-09T23:53:26","slug":"february-in-figures-rising-investor-optimism-bitcoin-outflows-from-centralised-exchanges-and-the-nft-marketplace-showdown","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/february-in-figures-rising-investor-optimism-bitcoin-outflows-from-centralised-exchanges-and-the-nft-marketplace-showdown\/","title":{"rendered":"February in Figures: Rising Investor optimism, Bitcoin Outflows from Centralised Exchanges, and the NFT Marketplace Showdown"},"content":{"rendered":"<div class=\"wp-block-monthly-reviews-top-blk review_top_blk\">\n<h2 class=\"wp-block-heading\">Key Takeaways<\/h2>\n<ul class=\"wp-block-list\">\n<li>Outflows of Ethereum from centralized platforms continued amid liquidity inflows into the project\u2019s DeFi ecosystem.<\/li>\n<li>The number of Bitcoin whale addresses fell to mid-2019 levels.<\/li>\n<li>On-chain indicators signal improving market sentiment and the potential for further market recovery.<\/li>\n<li>Bitcoin balances on centralized exchanges declined to March 2018 levels.<\/li>\n<li>Hash rate and mining difficulty hit new highs.<\/li>\n<li>Total value locked in DeFi smart contracts rose by 25%.<\/li>\n<li>The Arbitrum L2 network approached Ethereum in terms of average daily transactions processed.<\/li>\n<li>Capitalisation of BUSD fell by $5.4 billion, bringing the overall stablecoin market close to $130 billion.<\/li>\n<li>Amid competition between Blur and OpenSea in the NFT space, user activity picked up again.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Dynamics of leading assets<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"489\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT-10-1024x489.png\" alt=\"Daily BTC\/USDT chart on Binance\" class=\"wp-image-199471\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT-10-1024x489.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT-10-300x143.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT-10-768x366.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT-10-1536x733.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT-10.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"457\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/ETHUSDT-5-1024x457.png\" alt=\"Daily ETH\/USDT chart on Binance. Data: TradingView.\" class=\"wp-image-199473\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/ETHUSDT-5-1024x457.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/ETHUSDT-5-300x134.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/ETHUSDT-5-768x343.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/ETHUSDT-5-1536x685.png 1536w, https:\/\/forklog.com\/wp-contentuploads\/ETHUSDT-5.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily ETH\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/ETHUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In February the leading cryptocurrencies consolidated after a sharp rise earlier in the year.<\/li>\n<li>For the month, Bitcoin and Ethereum posted modest gains \u2014 up 0.03% and 1.26% respectively.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"357\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/gainers-32-1024x357.png\" alt=\"Gainers &#038; Losers of the month (>$200m cap)&#8221; class=&#8221;wp-image-199476&#8243; srcset=&#8221;https:\/\/forklog.com\/wp-content\/uploads\/gainers-32-1024&#215;357.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/gainers-32-300&#215;104.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/gainers-32-768&#215;267.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/gainers-32-1536&#215;535.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/gainers-32.png 1611w&#8221; sizes=&#8221;auto, (max-width: 1024px) 100vw, 1024px&#8221; \/><figcaption class=\"wp-element-caption\">Gainers &#038; Losers of the month (>$200m cap). Data: <a href=\"https:\/\/messari.io\/screener\/monthly-gainers-(copy)-E99DF2E8\">Messari<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"360\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/losers-30-1024x360.png\" alt=\"Gainers &#038; Losers of the month (>$200m cap)&#8221; class=&#8221;wp-image-199477&#8243; srcset=&#8221;https:\/\/forklog.com\/wp-content\/uploads\/losers-30-1024&#215;360.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/losers-30-300&#215;106.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/losers-30-768&#215;270.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/losers-30-1536&#215;540.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/losers-30.png 1612w&#8221; sizes=&#8221;auto, (max-width: 1024px) 100vw, 1024px&#8221; \/><\/figure>\n<\/div>\n<\/div>\n<p>Among the most dynamic projects in February (>$200m in market cap) was Conflux Network (CFX), which signed a deal with China Telecom to develop a Web3 SIM card (BSIM). The Stacks (STX) NFT hype, which spurred a notable on\u2011chain interest around inscriptions, also contributed to a strong on\u2011chain signal. Later in the month the L2 protocol Liquity improved its position and, after listing on Binance, its token (LQTY) rose more than 50%.<\/p>\n<div class=\"wp-block-monthly-reviews-crypto-stocks review_single_blk\">\n<h3>Publicly traded crypto-related stocks<\/h3>\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<p class=\"cryptostocks_label\"><strong>MicroStrategy (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-MSTR\/\" target=\"_blank\" rel=\"noopener\">MSTR<\/a>)<br \/><span>+4.49%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"review_half\">\n<p class=\"cryptostocks_label\"><strong>Coinbase (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-COIN\/\" target=\"_blank\" rel=\"noopener\">COIN<\/a>): <br \/><span>-9.73%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<p class=\"cryptostocks_label\"><strong>Bakkt (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NYSE-BKKT\/\" target=\"_blank\" rel=\"noopener\">BKKT<\/a>): <br \/><span>-8.75%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"review_half\">\n<p class=\"cryptostocks_label\"><strong>Galaxy Digital (<a href=\"https:\/\/ru.tradingview.com\/symbols\/TSX-GLXY\/\" target=\"_blank\" rel=\"noopener\">GLXY<\/a>): <br \/><span>-8.53%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-crypto-securities review_single_blk\">\n<h3>Mining stocks\u2019 performance<\/h3>\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<p class=\"cryptostocks_label\"><strong>Canaan (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-CAN\/\" target=\"_blank\" rel=\"noopener\">CAN<\/a>): <br \/><span>-10.83%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"review_half\">\n<p class=\"cryptostocks_label\"><strong>Ebang International (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-EBON\/\" target=\"_blank\" rel=\"noopener\">EBON<\/a>): <br \/><span>-5.73%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<p class=\"cryptostocks_label\"><strong>Riot Blockchain (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-RIOT\/\" target=\"_blank\" rel=\"noopener\">RIOT<\/a>): <br \/><span>+0.16%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"review_half\">\n<p class=\"cryptostocks_label\"><strong>Hut 8 (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-HUT\/\" target=\"_blank\" rel=\"noopener\">HUT<\/a>): <br \/><span>-14.06%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"reviews_has_halves\">\n<div class=\"review_half\">\n<p class=\"cryptostocks_label\"><strong>Marathon Digital (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-MARA\/\" target=\"_blank\" rel=\"noopener\">MARA<\/a>): <br \/><span>-0.98%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<p>After a strong start to the year, mining- and crypto-related stocks traded in mixed directions, largely moving in step with Bitcoin.<\/p>\n<\/div>\n<h2 class=\"wp-block-heading\">Market mood, correlations and volatility<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"481\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-15-1024x481.png\" alt=\"Fear and Greed Index dynamics. Data: alternative.me.\" class=\"wp-image-199488\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-15-1024x481.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-15-300x141.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-15-768x361.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-15.png 1286w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Fear &#038; Greed Index dynamics. Data: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-10.webp\" alt=\"Fear and Greed Index dynamics. Data: alternative.me.\" class=\"wp-image-199489\"\/><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>During February the Fear and Greed Index largely stayed in the Greed zone. In mid-month Bitcoin prices tested the $25,000 level \u2014 the index reached a yearly high of 62.<\/li>\n<li>The indicator\u2019s minimum reading was 48, the average 53.3. This pattern signals investor optimism despite a rise in the Federal Reserve\u2019s rate and an uptick in inflation in the United States.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"497\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-16-1024x497.png\" alt=\"90-day asset correlation indicators. Data: BlockchainCenter.\" class=\"wp-image-199490\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-16-1024x497.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-16-300x145.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-16-768x372.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-16-1536x745.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-16.png 1559w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">90-day asset correlation indicators. Data: <a href=\"https:\/\/www.blockchaincenter.net\/en\/cryptocurrency-correlation-study\/?timeframe=90days&#038;asset1=SP500&#038;asset2=BTC#correlationtable\">BlockchainCenter<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"505\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-volatilnosti-BVOL24H-8-1024x505.png\" alt=\"Dynamic of Bitcoin BVOL24H volatility index. Data: BitMEX.\" class=\"wp-image-199492\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-volatilnosti-BVOL24H-8-1024x505.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-volatilnosti-BVOL24H-8-300x148.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-volatilnosti-BVOL24H-8-768x379.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-volatilnosti-BVOL24H-8.png 1463w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of Bitcoin BVOL24H. Data: <a href=\"https:\/\/www.bitmex.com\/app\/index\/.BVOL24H\">BitMEX<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In February the statistical relationship between Bitcoin and the US stock market rose slightly. Correlation with the S&#038;P 500 reached 0.42, and with the Dow Jones \u2014 0.38. <\/li>\n<li>The movement of Bitcoin and gold prices trended in the same direction, but their correlation remains relatively low.<\/li>\n<li>The average BVOL24H over the last month stood at $2.1, somewhat above January\u2019s figure.<\/li>\n<li>The index peaked at $3.5 on 17 February when prices touched $25,000.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Macro backdrop<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image2-354.webp\" alt=\"Dynamika indices of prices for goods and services in the US. Data: Bloomberg.\" class=\"wp-image-199494\"\/><figcaption class=\"wp-element-caption\">Dynamika indices of prices for goods and services in the US. Data: <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-24\/fed-officials-flag-risk-of-sticky-inflation-as-pce-comes-in-hot\">Bloomberg<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>US consumer expenditure inflation in January rose from 5.3% year-on-year to 5.4%, versus a 4.9% forecast; core inflation rose from 4.6% to 4.7% (4.6%). <span data-descr=\"\u0418\u043d\u0434\u0435\u043a\u0441 \u043f\u043e\u0442\u0440\u0435\u0431\u0438\u0442\u0435\u043b\u044c\u0441\u043a\u0438\u0445 \u0446\u0435\u043d\" class=\"old_tooltip\">CPI<\/span><a href=\"https:\/\/forklog.com\/en\/news\/us-inflation-beats-expectations-bitcoin-falls\"> rose<\/a> by 6.4% with expectations for a slower 6.5% to 6.2%, core \u2014 up 5.6% (from 5.7% to 5.5%). The slower inflation backdrop is also visible in fresh <a href=\"https:\/\/www.bls.gov\/news.release\/ppi.nr0.htm\">PPI data<\/a>.<\/li>\n<li>In January, US nonfarm payrolls rose by 517,000 versus a forecast of 188,000. Over the prior two months, the gain was 71,000 higher. Unemployment, contrary to expectations, fell to the lowest since 1969 \u2014 3.4%. Yearly wage growth slowed to 4.4% vs 4.3% expected. Retail sales jumped by 3% against a 2% forecast.<\/li>\n<li>Fed officials, including the chair, signalled the need &#8220;for further work&#8221; \u2014 elevating the policy rate and keeping it high for an extended period. This prompted a revision of expectations about its ceiling and timing for a shift to easing policy.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image1-564.webp\" alt=\"Probability distribution of a rate rise at the March 22 meeting (current level \u2014 450-475 bps). Data: CME Fed Watch.\" class=\"wp-image-199495\"\/><figcaption class=\"wp-element-caption\">Probability distribution of a rate rise at the March 22 meeting (current level \u2014 450-475 bps). Data: <a href=\"https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html\">CME Fed Watch<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Options traders now price in a 50 bps hike in March with a 23.3% probability. A month ago odds were 1 in 5 that rates would stay at 4.5-4.75%.<\/li>\n<li>Investors also revised expectations for the Fed\u2019s next steps. If a month ago the market doubted whether rates would exceed 5.25% and saw a 76.5% chance of returning to the current level by year-end, now a peak of 5.75% is priced in with 42.8% probability and a 5.25-5.5% range by year-end (73.7%).<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image3-190.webp\" alt=\"Probability distribution of a rate rise at the December 13 meeting (current level \u2014 450\u2013475 bps). Data: CME Fed Watch\" class=\"wp-image-199496\"\/><figcaption class=\"wp-element-caption\">Probability distribution of a rate rise at the December 13 meeting (current level \u2014 450\u2013475 bps). Data: <a href=\"https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html\">CME Fed Watch<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>The prospect of a negative swing in risk assets due to Fed policy had little effect on crypto price movements. <\/li>\n<li>Bernstein analysts counted that Bitcoin\u2019s correlation with the Nasdaq Composite fell from 0.94 to 0.58.<a href=\"https:\/\/forklog.com\/en\/news\/bernstein-analysts-flag-decline-in-cryptocurrencies-correlation-with-the-us-stock-market\"> <\/A>\n<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">On-chain data<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"582\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/CHislo-adresov-s-balansom-bolee-1000-BTC-1024x582.png\" alt=\"Number of whale addresses (balance >1000 BTC). Data: Glassnode.&#8221; class=&#8221;wp-image-199501&#8243; srcset=&#8221;https:\/\/forklog.com\/wp-content\/uploads\/CHislo-adresov-s-balansom-bolee-1000-BTC-1024&#215;582.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/CHislo-adresov-s-balansom-bolee-1000-BTC-300&#215;170.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/CHislo-adresov-s-balansom-bolee-1000-BTC-768&#215;436.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/CHislo-adresov-s-balansom-bolee-1000-BTC.png 1054w&#8221; sizes=&#8221;auto, (max-width: 1024px) 100vw, 1024px&#8221; \/><figcaption class=\"wp-element-caption\">Number of whale addresses (balance >1000 BTC). Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Addresses&#038;chartStyle=line&#038;ema=0&#038;m=addresses.Min1KCount&#038;mAvg=0&#038;mMedian=0&#038;s=1540236704&#038;u=1676937600&#038;zoom=\"><\/a>Glassnode<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"475\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Addresses-Holding-X-BTC-by-Year-1024x475.png\" alt=\"Dinamics of Bitcoin address balances by year. Data: LookIntoBitcoin.\" class=\"wp-image-199502\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Addresses-Holding-X-BTC-by-Year-1024x475.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Addresses-Holding-X-BTC-by-Year-300x139.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Addresses-Holding-X-BTC-by-Year-768x357.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Addresses-Holding-X-BTC-by-Year.png 1346w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of various Bitcoin-address categories by year. Data: <a href=\"https:\/\/www.lookintobitcoin.com\/charts\/addresses-holding-x-btc-by-year\/\">LookIntoBitcoin<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\" id=\"block-8529de06-fff8-4c64-bfce-f62afa63ca90\">\n<li>The number of addresses with 1,000 BTC or more fell to mid-2019 levels. As of 28.02.2023, such whale addresses stood at 2,006; the similar peak of 2,005 was recorded on 30.07.2019.<\/li>\n<li>The count in this category peaked near 2,500 in February 2021. Since then, despite Bitcoin\u2019s rally to a new high around $69,000, the metric declined.  <\/li>\n<li>Smaller-address categories (>0.01, >0.1 and >1 BTC) show a more optimistic picture \u2014 these groups have rarely seen declines, signalling gradual growth in the number of crypto investors and their drive to accumulate more digital gold, regardless of volatility and cycles.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"426\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-7-1024x426.png\" alt=\"aSOPR indicator dynamics. Data: Glassnode.\" class=\"wp-image-199503\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-7-1024x426.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-7-300x125.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-7-768x319.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-7.png 1503w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">aSOPR dynamics. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;ema=0&#038;m=indicators.SoprAdjusted&#038;mAvg=7&#038;mMedian=0&#038;s=1646124716&#038;u=1677660716&#038;zoom=365\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"454\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/MVRV-Z-Score-7-1024x454.png\" alt=\"MVRV Z-Score dynamics. Data: Look Into Bitcoin.\" class=\"wp-image-199504\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/MVRV-Z-Score-7-1024x454.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/MVRV-Z-Score-7-300x133.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/MVRV-Z-Score-7-768x341.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/MVRV-Z-Score-7.png 1404w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">MVRV Z-Score dynamics. Data: <a href=\"https:\/\/www.lookintobitcoin.com\/charts\/mvrv-zscore\/\">Look Into Bitcoin<\/a>. <\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>The aSOPR indicator spent most of February above 1, signaling improved sentiment and profit-taking by many investors.<\/li>\n<li>Decentrader analysts <a href=\"https:\/\/twitter.com\/decentrader\/status\/1630349629241053184\">believe<\/a> that short-lived dips below key levels present a good \u201cbuy the dip\u201d opportunity.<\/li>\n<li>The recently released MVRV Z-Score that re-entered territory below zero indicates potential for further price gains and overall market recovery.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"424\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Taproot-Adoption-1024x424.png\" alt=\"Share of Taproot signatures in Bitcoin\u2019s blockchain. Data: Glassnode.\" class=\"wp-image-199505\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Taproot-Adoption-1024x424.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Taproot-Adoption-300x124.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Taproot-Adoption-768x318.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Taproot-Adoption.png 1517w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Taproot adoption on Bitcoin. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=transactions.TaprootAdoption&#038;mAvg=7&#038;mMedian=0&#038;s=1646124716&#038;u=1677660716&#038;zoom=365\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"660\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-balansov-tsentralizovannyh-birzh-1024x660.png\" alt=\"Total Bitcoin on centralized exchanges balances. Data: Glassnode.\" class=\"wp-image-199506\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-balansov-tsentralizovannyh-birzh-1024x660.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-balansov-tsentralizovannyh-birzh-300x193.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-balansov-tsentralizovannyh-birzh-768x495.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-balansov-tsentralizovannyh-birzh.png 1061w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Total Bitcoin on centralized exchanges. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;m=distribution.BalanceExchanges&#038;s=1519983963&#038;u=1677663963&#038;zoom=1825\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In February there was a notable uptick in Taproot\u2011sig shares in Bitcoin\u2019s blockchain \u2014 on 15 February the share rose above 12%, before retreating.<\/li>\n<li>The trend is tied largely to the Ordinals project, which enables digital artifacts on Bitcoin. The number of Bitcoin NFTs surpassed 228,000, according to a Dune dashboard by @dataalways.<\/li>\n<li>Total digital gold on centralized exchanges fell to March 2018 levels. The pullback from exchanges intensified in 2022 amid Terra\u2019s collapse, FTX\u2019s demise and broad market contagion. The persistent decline in this metric suggests many investors are moving to non-custodial wallets for safety.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk\">\n<h3 class=\"wp-block-heading\">Ethereum<\/h3>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"491\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-14-1024x491.png\" alt=\"Daily ETH burn dynamics. Data: Etherscan.\" class=\"wp-image-199509\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-14-1024x491.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-14-300x144.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-14-768x368.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-sutochnogo-chisla-sozhzhennyh-ETH-14.png 1291w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamica \u0441\u0443\u0442\u043e\u0447\u043d\u043e\u0433\u043e \u0447\u0438\u0441\u043b\u0430 \u0441\u043e\u0436\u0436\u0451\u043d\u043d\u044b\u0445 ETH. \u0414\u0430\u043d\u043d\u044b\u0435: <a href=\"https:\/\/etherscan.io\/chart\/dailyethburnt\">Etherscan<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"493\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-13-1024x493.png\" alt=\"Ethereum balances on centralized exchanges and the share of ETH supply engaged in smart contracts. Data: Glassnode.\" class=\"wp-image-199508\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-13-1024x493.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-13-300x144.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-13-768x369.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Balansy-Ethereum-na-tsentralizovannyh-birzhah-i-dolya-predlozheniya-ETH-zadejstvovannogo-v-smart-kontraktah-13.png 1422w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Ethereum balances on centralized exchanges and the share of ETH supply engaged in smart contracts. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=ETH%202.0&#038;m=distribution.BalanceExchanges&#038;s=1633167919&#038;u=1635759919&#038;zoom=30\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Since activation of EIP-1559, Ethereum has burned more than 2.96 million coins. Around 85,000 ETH burned in February, up 30% from January. The rate of coins leaving circulation accelerated for a second month, driven in part by DeFi activity and the tit-for-tat between two NFT marketplaces \u2014 <span class=\"old_tooltip\" data-descr=\"OpenSea\">OpenSea<\/span> and Blur.<\/li>\n<li>According to <a href=\"https:\/\/ultrasound.money\/\">Ultrasound Money<\/a>, over the last 30 days the Ethereum supply contracted by 35,400 ETH. The largest single\u2011holder outflow was ~9,100 ETH linked to Uniswap, with OpenSea ~6,100 ETH close behind.<\/li>\n<li>By February end, the share of ETH locked in smart contracts across DeFi apps rose to 26.85%.<\/li>\n<li>In the period under review the total Ethereum on centralized platforms fell by 4%. The two latest metrics point to rising DeFi interest. The likely catalyst is the Shanghai upgrade slated for March 2023, enabling withdrawals of staked assets.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-10-1024x506.png\" alt=\"Total ETH in staking and number of validators. Data: Glassnode.\" class=\"wp-image-199510\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-10-1024x506.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-10-300x148.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-10-768x379.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-kolichestva-ETH-na-depozitnom-kontrakte-Ethereum-2.0-i-chislo-validatorov-10.png 1343w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Total ETH in staking and number of validators. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=ETH%202.0&#038;m=eth2.StakingTotalVolumeSum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"596\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-11-1024x596.png\" alt=\"Dynamically changing Ethereum 2.0 addresses with balance \u2265 32 ETH. Data: Glassnode.\" class=\"wp-image-199511\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-11-1024x596.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-11-300x175.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-11-768x447.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-chisla-adresov-Ethereum-2.0-s-balansom-32-ETH-11.png 1138w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamically changing Ethereum 2.0 address counts with balance \u2265 32 ETH. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=ETH&#038;category=ETH%202.0&#038;m=addresses.Min32Count\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In February the number of Ethereum validators rose 6%, to 551,488. The amount staked rose to 17.40 million ETH \u2014 up more than 6% over the period.<\/li>\n<li>The number of unique addresses depositing 32 ETH or more into the staking deposit contract declined slightly, to 129,261. The trend reflects growing popularity of liquid staking services such as Lido, which enable users without enough funds to operate as validators to participate.<\/li>\n<\/ul>\n<\/div>\n<h3 class=\"wp-block-heading\">Lightning Network<\/h3>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_have_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"553\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-15-1024x553.png\" alt=\"Lightning Network capacity dynamics. Data: Glassnode.\" class=\"wp-image-199512\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-15-1024x553.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-15-300x162.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-15-768x414.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-emkosti-seti-Lightning-Network-15.png 1247w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Lightning Network capacity dynamics. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=lightning.NetworkCapacitySum&#038;s=1667260800&#038;u=1669841999&#038;zoom=\"><\/a>Glassnode<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"546\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-14-1024x546.png\" alt=\"Lightning Network capacity dynamics. Data: Glassnode.\" class=\"wp-image-199513\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-14-1024x546.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-14-300x160.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-14-768x410.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/CHislo-nod-i-kolichestvo-kanalov-seti-Lightning-Network-14.png 1181w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Lightning Network capacity dynamics. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=lightning.NetworkCapacitySum&#038;s=1667260800&#038;u=1669841999&#038;zoom=\"><\/a>Glassnode<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In February Lightning Network capacity grew by 3% and reached a new peak of 5,206 BTC (5,186 BTC as of 28 February).<\/li>\n<li>The number of nodes and channels rose slightly, standing at 16,052 and 70,551 respectively (15,770 and 69,750 in January).<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Mining, hash rate, fees<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"472\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-4-1024x472.png\" alt=\"Bitcoin hash rate dynamics, EH\/s. Data: Glassnode.\" class=\"wp-image-199516\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-4-1024x472.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-4-300x138.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-4-768x354.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-heshrejta-bitkoina-4.png 1308w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin hash rate dynamics, EH\/s. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;m=mining.HashRateMean&#038;s=1669891218&#038;u=1677667218&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Slozhnost-majninga-bitkoina-3.webp\" alt=\"Bitcoin mining difficulty. Data: Coin Metrics.\" class=\"wp-image-199517\"\/><figcaption class=\"wp-element-caption\">Mining difficulty. Data: <a href=\"https:\/\/charts.coinmetrics.io\/network-data\/\">Coin Metrics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Against a backdrop of gradual market recovery, Bitcoin\u2019s hash rate (7\u2011day MA) rose 6.73%, reaching a new high of 319.4 EH\/s. The consistently upward trend signals industry participants\u2019 confidence in Bitcoin\u2019s long-term prospects and mining generally.<\/li>\n<li>The hash-rate-related difficulty climbed to a new record \u2014 43.05 T. After the latest retarget, the metric rose by 9.95%.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"546\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-pokazatelya-heshprajs-1024x546.png\" alt=\"Hashprice dynamics. Data: Hashrate Index.\" class=\"wp-image-199518\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-pokazatelya-heshprajs-1024x546.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-pokazatelya-heshprajs-300x160.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-pokazatelya-heshprajs-768x410.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-pokazatelya-heshprajs.png 1459w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hashprice dynamics. Data: <a href=\"https:\/\/data.hashrateindex.com\/chart\/bitcoin-hashprice-index\">Hashrate Index<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Difficulty-Regression-Model-1024x576.jpg\" alt=\"Bitcoin mining difficulty regression model. Data: Glassnode.\" class=\"wp-image-199520\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Difficulty-Regression-Model-1024x576.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Difficulty-Regression-Model-300x169.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/Difficulty-Regression-Model-768x432.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/Difficulty-Regression-Model-1536x864.jpg 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Difficulty-Regression-Model.jpg 1800w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin mining difficulty regression model. Data: <a href=\"https:\/\/studio.glassnode.com\/workbench\/e432dc5a-7ec8-44a5-7c32-32558a6ee87f\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Despite rising difficulty, hashprice of Bitcoin recovered \u2014 mid-February hashprice reached $0.079 per TH\/s-day, roughly the same as early October last year before the market downturn caused by FTX. <\/li>\n<li>Using a regression model, CryptoSlate researcher James Van Straten <a href=\"https:\/\/twitter.com\/jimmyvs24\/status\/1630581466429112320?s=20\">estimated<\/a> a rough cost of production for Bitcoin at about $21,100. With market price above this level, miners are returning to the game and increasing hash rate, he said.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Krupnejshie-puly-po-dobyche-bitkoina-6.webp\" alt=\"Largest mining pools by Bitcoin hash power. Data: BTC.com.\" class=\"wp-image-199521\"\/><figcaption class=\"wp-element-caption\">Largest mining pools by Bitcoin hash power. Data: <a href=\"https:\/\/btc.com\/stats\/pool?pool_mode=month\">BTC.com<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-2.webp\" alt=\"Bitcoin miners\u2019 revenues by month. Data: Glassnode.\" class=\"wp-image-199522\"\/><figcaption class=\"wp-element-caption\">Bitcoin miners\u2019 revenues by month. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;m=mining.RevenueSum&#038;s=1669909142&#038;u=1677685142&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>The share of the largest pool \u2014 Foundry USA \u2014 reached one third of total Bitcoin hash rate (33.3%). AntPool\u2019s share fell from 19.7% to 17.9%, and Poolin from 2.3% to 1.7%. <\/li>\n<li>Total miner revenue rose by just 4% year-on-year, reflecting slower Bitcoin price growth and the shorter February month.<\/li>\n<li>Conversely, the share of fees in miner revenue rose to 2.28% (January was 1.38%). This is largely linked to higher on-chain activity driven by Ordinals transactions. As a result, Bitcoin blocks have been busier, fees have risen and blocks often fill to capacity.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu-4.webp\" alt=\"Average transaction fee for BTC and ETH transactions. Data: Coin Metrics.\" class=\"wp-image-199524\"\/><figcaption class=\"wp-element-caption\">Dynamika \u0441\u0440\u0435\u0434\u043d\u0435\u0439 \u043a\u043e\u043c\u0438\u0441\u0441\u0438\u0438 \u0437\u0430 BTC- \u0438 ETH-\u0442\u0440\u0430\u043d\u0437\u0430\u043a\u0446\u0438\u044e. \u0414\u0430\u043d\u043d\u044b\u0435: <a href=\"https:\/\/charts.coinmetrics.io\/network-data\/\">Coin Metrics<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>\u0421\u0440\u0435\u0434\u043d\u044f\u044f \u043a\u043e\u043c\u0438\u0441\u0441\u0438\u044f \u0437\u0430 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u2011\u0442\u0440\u0430\u043d\u0437\u0430\u043a\u0446\u0438\u044e \u0432 \u0444\u0435\u0432\u0440\u0430\u043b\u0435 \u0432\u044b\u0440\u043e\u0441\u043b\u0430 \u043d\u0430 22% \u2014 \u0441 $1.49 \u0434\u043e $1.82. \u0410\u043d\u0430\u043b\u043e\u0433\u0438\u0447\u043d\u043e \u0434\u043b\u044f Ethereum \u2014 \u0432\u043e \u0432\u0441\u0435\u043c \u043f\u0435\u0440\u0438\u043e\u0434\u0435 \u043a\u043e\u043c\u0438\u0441\u0441\u0438\u044f \u0441\u043d\u0438\u0437\u0438\u043b\u0430\u0441\u044c \u043d\u0430 7.2% \u2014 \u0441 $5 \u0434\u043e $4.64.<\/li>\n<li>14 \u0444\u0435\u0432\u0440\u0430\u043b\u044f \u0441\u0440\u0435\u0434\u043d\u044f\u044f \u043a\u043e\u043c\u0438\u0441\u0441\u0438\u044f \u0437\u0430 \u0442\u0440\u0430\u043d\u0437\u0430\u043a\u0446\u0438\u044e \u0432 \u0441\u0435\u0442\u0438 Ethereum \u0434\u043e\u0441\u0442\u0438\u0433\u043b\u0430 \u043b\u043e\u043a\u0430\u043b\u044c\u043d\u043e\u0433\u043e \u043f\u0438\u043a\u0430 \u0432 $8.55. \u0412 \u043f\u043e\u0441\u043b\u0435\u0434\u043d\u0438\u0439 \u0440\u0430\u0437 \u043f\u043e\u0434\u043e\u0431\u043d\u044b\u0439 \u0443\u0440\u043e\u0432\u0435\u043d\u044c \u043d\u0430\u0431\u043b\u044e\u0434\u0430\u043b\u0441\u044f \u0432 \u0438\u044e\u043d\u0435 2022 \u0433\u043e\u0434\u0430.<\/li>\n<li>\u0425\u043e\u0442\u044f \u043e\u043d\u0447\u0435\u0439\u043d\u2011\u0430\u043a\u0442\u0438\u0432\u043d\u043e\u0441\u0442\u044c \u0432\u044b\u0440\u043e\u0441\u043b\u0430 \u0438\u0437-\u0437\u0430 Ordinals, \u0444\u0435\u0432\u0440\u0430\u043b\u044c\u0441\u043a\u0438\u0439 \u043f\u0438\u043a \u043f\u043e \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0443 \u0441\u043e\u0441\u0442\u0430\u0432\u0438\u043b \u043b\u0438\u0448\u044c $2.64 (15 \u0444\u0435\u0432\u0440\u0430\u043b\u044f). \u042d\u0442\u043e \u0433\u043e\u0432\u043e\u0440\u0438\u0442 \u043e \u0442\u043e\u043c, \u0447\u0442\u043e NFT \u043d\u043e\u0432\u043e\u0433\u043e \u0442\u0438\u043f\u0430 \u043f\u043e\u043a\u0430 \u043d\u0435 \u043e\u043a\u0430\u0437\u044b\u0432\u0430\u043b\u0438 \u0441\u0443\u0449\u0435\u0441\u0442\u0432\u0435\u043d\u043d\u043e\u0433\u043e \u0432\u043b\u0438\u044f\u043d\u0438\u044f \u043d\u0430 \u0442\u0440\u0430\u043d\u0437\u0430\u043a\u0446\u0438\u0438 \u043f\u0435\u0440\u0432\u043e\u0439 \u043a\u0440\u0438\u043f\u0442\u043e\u0432\u0430\u043b\u044e\u0442\u044b. \u041d\u0435\u0431\u043e\u043b\u044c\u0448\u043e\u0439 \u0440\u043e\u0441\u0442 \u0441\u0440\u0435\u0434\u043d\u0435\u0439 \u043a\u043e\u043c\u0438\u0441\u0441\u0438\u0438 \u043c\u043e\u0436\u0435\u0442 \u0431\u044b\u0442\u044c \u0441\u0432\u044f\u0437\u0430\u043d \u0441 \u0430\u043a\u0442\u0438\u0432\u043d\u044b\u043c \u0438\u0441\u043f\u043e\u043b\u044c\u0437\u043e\u0432\u0430\u043d\u0438\u0435\u043c Taproot\u2011\u043f\u043e\u0434\u043f\u0438\u0441\u0435\u0439, \u043a\u043e\u0442\u043e\u0440\u044b\u0435 \u0442\u0430\u043a\u0436\u0435 \u0441\u043f\u043e\u0441\u043e\u0431\u0441\u0442\u0432\u0443\u044e\u0442 \u0443\u0434\u0435\u0448\u0435\u0432\u043b\u0435\u043d\u0438\u044e \u0442\u0440\u0430\u043d\u0437\u0430\u043a\u0446\u0438\u0439.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Trading Volume<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"565\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/obem-torgov-13-1024x565.png\" alt=\"Trading volume on leading spot exchanges, USD bn. Data: The Block.\" class=\"wp-image-199529\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/obem-torgov-13-1024x565.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/obem-torgov-13-300x166.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/obem-torgov-13-768x424.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/obem-torgov-13.png 1219w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume on leading spot exchanges, USD bn. Data: <a href=\"https:\/\/www.theblockcrypto.com\/data\/crypto-markets\/spot\">The Block<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Trading volume on the major crypto exchanges tracked by ForkLog rose 15% in February, to $782 billion.<\/li>\n<li>In the top three, OKX overtook Coinbase by volume ($44bn vs. $40bn, respectively). Gate\u2019s volume was $78bn, while Binance remained the leader with $545bn.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Futures &#038; Options<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"560\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-24-1024x560.png\" alt=\"Futures trading volume on Bitcoin and Ethereum, trillion USD. Data: Glassnode.\" class=\"wp-image-199533\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-24-1024x560.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-24-300x164.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-24-768x420.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-24-1536x840.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-24.png 1749w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Futures trading volume on Bitcoin and Ethereum, USD tn. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=derivatives.FuturesVolumeDailySum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"551\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/optsiony-24-1024x551.png\" alt=\"Options trading volume on Bitcoin and Ethereum, USD bn. Data: Glassnode.\" class=\"wp-image-199532\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/optsiony-24-1024x551.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/optsiony-24-300x161.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/optsiony-24-768x413.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/optsiony-24-1536x826.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/optsiony-24.png 1801w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Options trading volume on Bitcoin and Ethereum, USD bn. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=derivatives.OptionsVolumeDailySum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<p>Trading volumes in the crypto derivatives space continued to rise, a trend that began in 2023. Options activity outpaced futures \u2014 the measure reached the highs seen in May last year, while futures hovered around October levels. In absolute terms this is $32 bn in options and $1.23 tn in futures (covering only Bitcoin- and Ethereum-based contracts).<\/p>\n<\/div>\n<h2 class=\"wp-block-heading\">DeFi<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"477\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-17-1024x477.png\" alt=\"Value locked in DeFi sector. Data: DeFi Llama.\" class=\"wp-image-199536\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-17-1024x477.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-17-300x140.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-17-768x358.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-17.png 1316w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic of funds blocked in DeFi contracts. Data: <a href=\"https:\/\/defillama.com\/\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"501\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Top-5-ekosistem-po-stoimosti-zablokirovannyh-sredstv-4-1024x501.png\" alt=\"Top ecosystems by value locked, billions. Data: DeFi Llama.\" class=\"wp-image-199537\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Top-5-ekosistem-po-stoimosti-zablokirovannyh-sredstv-4-1024x501.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Top-5-ekosistem-po-stoimosti-zablokirovannyh-sredstv-4-300x147.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Top-5-ekosistem-po-stoimosti-zablokirovannyh-sredstv-4-768x376.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Top-5-ekosistem-po-stoimosti-zablokirovannyh-sredstv-4.png 1294w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top ecosystems by value locked, USD bn. Data: <a href=\"https:\/\/defillama.com\/chains\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In February the TVL locked in DeFi rose by 25% to $81.57 bn, driven in part by liquidity inflows into the Ethereum ecosystem (+14% during the period) and growing demand for Arbitrum.<\/li>\n<li>At month-end the share of L2\u2011transactions on the Ethereum network approached the mainnet\u2019s level, at times exceeding it. In February, the project\u2019s TVL rose 62%, allowing it to overtake Avalanche on this metric.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"553\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/DeFi-Top-20-3-1024x553.png\" alt=\"Top 20 DeFi coins by market cap. Data: Messari (as of 01.03.2023).\" class=\"wp-image-199539\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/DeFi-Top-20-3-1024x553.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/DeFi-Top-20-3-300x162.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/DeFi-Top-20-3-768x415.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/DeFi-Top-20-3.png 1277w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top 20 DeFi coins by market cap. Data: <a href=\"https:\/\/messari.io\/screener\/defi-assets-(copy)-563C5306\">Messari<\/a> (as of 01.03.2023).<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"610\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-16-1024x610.png\" alt=\"Top-5 DeFi projects on Ethereum by value locked, USD bn. Data: DeFi Llama.\" class=\"wp-image-199540\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-16-1024x610.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-16-300x179.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-16-768x458.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-16.png 1052w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top-5 DeFi projects on Ethereum by value locked, USD bn. Data: <a href=\"https:\/\/defillama.com\/chain\/Ethereum\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>With few exceptions, nearly all DeFi assets in the top-20 by market cap ended February in the green. The worst performer was Radix (XRD), down 15.5%.<\/li>\n<li>Within Ethereum, Lido remains the dominant TVL; ahead of Shanghai, its TVL rose again \u2014 up 18% (22% in January).<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-2.webp\" alt=\"TVL by major DeFi sectors. Data: DeFi Llama.\" class=\"wp-image-199548\"\/><figcaption class=\"wp-element-caption\">TVL by main DeFi sectors. Data: <a href=\"https:\/\/defillama.com\/categories\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-16.webp\" alt=\"Market cap of popular Bitcoin on Ethereum, USD bn. Data: Dune Analytics.\" class=\"wp-image-199549\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-16.webp 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-16-300x199.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-16-768x509.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-16.png 1052w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Market cap of popular Bitcoin on Ethereum, USD bn. Data: <a href=\"https:\/\/dune.com\/eliasimos\/btc-on-ethereum_1\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Decentralised exchanges continued to dominate the sector\u2019s aggregate TVL \u2014 currently accounting for 24% or $19.82 billion.<\/li>\n<li>In February liquidity- and yield-centric DeFi assets outpaced lending protocols. The category\u2019s TVL rose 16% during the month to $14.44 billion.<\/li>\n<li>During the period the total market value of \u201cBitcoin on Ethereum\u201d fell 23%. This is likely linked to Celsius actions, which late in the month repaid more than 22,700 WBTC.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"594\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-13-1024x594.png\" alt=\"Daily transactions in Polygon, Ethereum, Binance Smart Chain and Avalanche ecosystems. Data: TronScan, Etherscan, BscScan, Arbiscan.\" class=\"wp-image-199543\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-13-1024x594.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-13-300x174.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-13-768x445.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-13.png 1238w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynam\u0438\u043a\u0430 \u0434\u043d\u0435\u0432\u043d\u043e\u0433\u043e \u0447\u0438\u0441\u043b\u0430 \u0442\u0440\u0430\u043d\u0437\u0430\u043a\u0446\u0438\u0439 \u0432 \u044d\u043a\u043e\u0441\u0438\u0441\u0442\u0435\u043c\u0430\u0445 Tron, Ethereum, Binance Smart Chain \u0438 Avalanche. \u0414\u0430\u043d\u043d\u044b\u0435: <a href=\"https:\/\/tronscan.org\/#\/data\/stats2\/transaction\/txOverviewStatsType\">TronScan<\/a>, <a href=\"https:\/\/etherscan.io\/chart\/tx\">Etherscan<\/a>, <a href=\"https:\/\/bscscan.com\/chart\/tx\">BscScan<\/a>, <a href=\"https:\/\/arbiscan.io\/chart\/tx\">Arbiscan<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Tron remains the leader for on-chain activity in February, processing an average of 6.8 million daily transactions, down from January\u2019s 7.36 million.<\/li>\n<li>Arbitrum\u2019s metric doubled \u2014 the L2 solution processed 616,719 transactions on average, still below Ethereum\u2019s 1.1 million.<\/li>\n<li>Meanwhile, on 22 February the network surpassed second-placed blockchain in terms of activity. The rise was driven by growth in non-custodial and lending platform usage.<\/li>\n<\/ul>\n<\/div>\n<h3 class=\"wp-block-heading\">DEX and L2<\/h3>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"529\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/DEX-29-1024x529.png\" alt=\"Trading volume on decentralised Ethereum exchanges, USD bn. Data: Dune Analytics.\" class=\"wp-image-199545\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/DEX-29-1024x529.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/DEX-29-300x155.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/DEX-29-768x397.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/DEX-29-1536x793.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/DEX-29.png 1727w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume on decentralised Ethereum exchanges, USD bn. Data: <a href=\"https:\/\/duneanalytics.com\/hagaetc\/dex-metrics\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/l2-13.webp\" alt=\"TVL in Ethereum L2 protocols, in ETH and USD. Data: L2BEAT.\" class=\"wp-image-199546\"\/><figcaption class=\"wp-element-caption\">TVL in L2 protocols of the Ethereum network, in ETH and USD. Data: <a href=\"https:\/\/l2beat.com\/\">L2BEAT<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In January, trading volume on decentralised Ethereum exchanges reached $51bn.<\/li>\n<li>The main share is held by three protocols \u2014 Uniswap ($37.2bn), Curve ($4.7bn) and DoDo ($2.8bn).<\/li>\n<li>In February Arbitrum\u2019s share among L2 solutions exceeded 50%. The main competing product \u2014 Optimism \u2014 accounted for over 30% of total TVL.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Stablecoins<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/stejblkoiny-21-1024x576.png\" alt=\"Market capitalisation of stablecoins, USD bn. Data: Glassnode, Messari.\" class=\"wp-image-199550\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/stejblkoiny-21-1024x576.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/stejblkoiny-21-300x169.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/stejblkoiny-21-768x432.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/stejblkoiny-21-1536x864.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/stejblkoiny-21.png 1640w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Market capitalisation of stablecoins, USD bn. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=USDT&#038;category=&#038;m=market.MarketcapUsd\">Glassnode<\/a>, <a href=\"https:\/\/messari.io\/\">Messari<\/a>.<\/figcaption><\/figure>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>The NY Department of Financial Services opened an investigation into Paxos, the issuer of USDP and BUSD, against which the regulator (later joined by the SEC) ordered Binance to cease minting BUSD. Paxos subsequently severed ties with Binance but committed to honoring redemptions for the next year.<\/li>\n<li>As a result, BUSD\u2019s market cap fell by $5.4bn, and the overall stablecoins market dropped to $133.8bn, matching late-2021 levels.<\/li>\n<li>Binance\u2019s CEO acknowledged that BUSD will eventually depart from exchanges, while the firm plans to support alternatives, including non-dollar-pegged ones. True USD emerged as one such option, with issuance exceeding $1bn for the first time.<\/li>\n<li>In light of demand for stablecoins, the USDT supply increased to $70.9bn from $67.8bn. USDC\u2019s market cap remained flat.<\/li>\n<li>Towards month-end the Frax Finance community decided to abandon the algorithmic backing of the FRAX stablecoin.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">NFT<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/NFT-marketplejsy.webp\" alt=\"Daily NFT marketplace volumes, ETH. Data: Dune Analytics.\" class=\"wp-image-199551\"\/><figcaption class=\"wp-element-caption\">Daily NFT marketplace volumes, ETH. Data: <a href=\"https:\/\/dune.com\/hildobby\/NFTs\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Trading volume on NFT marketplaces rebounded as Blur challenged OpenSea. Blur drew attention in February with a generous airdrop of its native token BLUR, which promptly appeared on leading platforms, with Binance notably absent. Reports say Blur is raising funds at a $1bn valuation.<\/li>\n<li>In February Blur\u2019s volume reached $1.21bn versus $333m for OpenSea. The newcomer announced an additional distribution of 300m tokens, and the revealed CEO urged a boycott of the flagship. The result was that the leading marketplace had to alter its royalty model.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"571\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Kollektsii-4-1024x571.png\" alt=\"Activity by NFT collections. Data: Cryptoslam.\" class=\"wp-image-199552\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Kollektsii-4-1024x571.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Kollektsii-4-300x167.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Kollektsii-4-768x428.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Kollektsii-4.png 1040w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Activity by NFT collections. Data: <a href=\"https:\/\/cryptoslam.io\/\">Cryptoslam<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Blokchejny-4.webp\" alt=\"NFT sales on various blockchains. Data: Cryptoslam.\" class=\"wp-image-199553\"\/><figcaption class=\"wp-element-caption\">NFT sales across blockchains. Data: <a href=\"https:\/\/cryptoslam.io\/\">Cryptoslam<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<p>As the segment revived, new leading collections emerged while legacy premium collections remained in play. In some cases volumes and transactions rose by tens or hundreds of percent. The same pattern was seen across blockchains, with Ethereum remaining the undisputed leader.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Ordinals.webp\" alt=\"NFT types in the Ordinals protocol on Bitcoin. Data: Dune Analytics.\" class=\"wp-image-199554\"\/><figcaption class=\"wp-element-caption\"> NFT types in the Ordinals protocol on the Bitcoin blockchain. Data: <a href=\"https:\/\/dune.com\/dataalways\/ordinals\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>In February the Ordinals protocol launched \u2014 \u201cattacks on the network\u201d according to supporters of Bitcoin. Ordinals allow recording up to 4 MB of data in a Bitcoin block. Network activity surged mempool, and the average block size grew from 1.5\u20132.0 MB to 3.0\u20133.5 MB.<\/li>\n<li>By month-end the total NFT count on Bitcoin exceeded 250,000, and the Ordinals fork was launched on Litecoin.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Activity of major players<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"389\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Publichnye-kompanii-1024x389.png\" alt=\"Public companies holding Bitcoin in reserves. Data: Bitcoin Treasuries.\" class=\"wp-image-199555\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Publichnye-kompanii-1024x389.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Publichnye-kompanii-300x114.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Publichnye-kompanii-768x292.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Publichnye-kompanii.png 1029w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">The largest public companies holding Bitcoin in treasuries. Data: <a href=\"https:\/\/bitcointreasuries.net\/\">Bitcoin Treasuries<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Most public company digital holdings were unchanged in February. One of the largest Bitcoin holders, MicroStrategy, did not acquire or announce purchases of Bitcoin in early 2023.<\/li>\n<li>In February the software company reported that its Q4 2022 net loss was $249.7m. The write-down of Bitcoin holdings and the price drop weighed on MicroStrategy\u2019s results. The company sold 704 BTC but remains the owner of 132,500 BTC, whose value fell by $197.6m.<\/li>\n<li>Nevertheless, MicroStrategy managed to raise $46.6m since September 2022 by selling its securities.<\/li>\n<li>Last month it emerged that Marathon Digital sold 1,500 BTC in January to cover some costs. CEO Fred Thiel said additional sales would follow to finance monthly operating expenditures this year.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-diskonta-GBTC-k-NAV.webp\" alt=\"GBTC discount to NAV. Data: yCharts.\" class=\"wp-image-199556\"\/><figcaption class=\"wp-element-caption\">GBTC discount to NAV. Data: <a href=\"https:\/\/ycharts.com\/companies\/GBTC\/discount_or_premium_to_nav\">yCharts<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>BTC Trust (GBTC) quotes remain at a very low level relative to NAV \u2014 around -45.5%. The situation is worsened by Digital Currency Group (DCG)\u2019s deteriorating finances.<\/li>\n<li>According to the Financial Times, DCG began selling shares in major crypto funds managed by Grayscale at a substantial discount.<\/li>\n<li>In 2022 Digital Currency Group reported a net loss of $1.1bn.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Major venture rounds<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk\">\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<div class=\"wp-block-monthly-reviews-venture-single has_ventures\"><strong>$70m<\/strong><\/p>\n<p>Chain Reaction, a hardware company focused on blockchain devices and privacy chips, completed a Series C round led by Morgan Creek Digital.<\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<div class=\"wp-block-monthly-reviews-venture-single has_ventures\"><strong>$65m<\/strong><\/p>\n<p>Taurus, a European custodian for institutions, closed a Series B round led by Credit Suisse.<\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<div class=\"wp-block-monthly-reviews-venture-single has_ventures\"><strong>$30m<\/strong><\/p>\n<p>Coincover, a \u0446\u0438\u0444\u0440\u043e\u0432\u044b\u0445 \u0430\u043a\u0442\u0438\u0432\u043e\u0432 protection and insurance service. Round led by Foundation Capital.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<div class=\"wp-block-monthly-reviews-venture-single has_ventures\"><strong>$20m<\/strong><\/p>\n<p>Superplastic, a 3D studio that previously released an NFT on Ethereum in collaboration with a fashion brand Gucci. Investment round led by Amazon\u2019s venture arm.<\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<div class=\"wp-block-monthly-reviews-venture-single has_ventures\"><strong>$20m<\/strong><\/p>\n<p>Kratos, an Indian Web3 startup, valued at $150m. Round led by Accel.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\">Regulation<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<div class=\"wp-block-monthly-reviews-flags review_has_flag\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Indoneziya.webp\" alt=\"Indonesia\" class=\"wp-image-199562\"\/><figcaption class=\"wp-element-caption\">In <strong>Indonesia<\/strong> cryptocurrencies are being classified as securities.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-flags review_has_flag\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/SSHA.webp\" alt=\"USA\" class=\"wp-image-199568\"\/><figcaption class=\"wp-element-caption\">The US <strong>SEC<\/strong> named regulating crypto as a priority in 2023 and hinted at recognizing most cryptos as securities.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<div class=\"wp-block-monthly-reviews-flags review_has_flag\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/YUzhnoj-Korei.webp\" alt=\"South Korea\" class=\"wp-image-199563\"\/><figcaption class=\"wp-element-caption\"> regulator <strong>South Korea<\/strong> unveiled guidance for security tokens.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-flags review_has_flag\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Frantsiya.webp\" alt=\"France\" class=\"wp-image-199569\"\/><figcaption class=\"wp-element-caption\"><strong>France<\/strong> will tighten rules for crypto firms registration.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-flags review_has_flag\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/MVF.webp\" alt=\"IMF\" class=\"wp-image-199577\"\/><figcaption class=\"wp-element-caption\"><strong>IMF<\/strong> urged a coordinated response to crypto \u2014 the organisation backed regulation over prohibition.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<div class=\"wp-block-monthly-reviews-flags review_has_flag\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Gonkong-1.webp\" alt=\"Hong Kong\" class=\"wp-image-199564\"\/><figcaption class=\"wp-element-caption\"> regulator <strong>Hong Kong<\/strong> proposed rules for crypto platforms. The local SEC will <strong>increase<\/strong> staff to strengthen oversight of the crypto industry.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-flags review_has_flag\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Izrail.webp\" alt=\"Israel\" class=\"wp-image-199570\"\/><figcaption class=\"wp-element-caption\">Central bank of <strong>Israel<\/strong> issued guidelines for stablecoin issuers.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\">Materials of the Month<\/h2>\n<div class=\"wp-block-monthly-reviews-month-best review_month_best\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum and Bitcoin outflows from centralized platforms, NFT marketplace competition between Blur and OpenSea, and improving market sentiment with potential for further market recovery. ForkLog\u2019s February analysis.<\/p>\n","protected":false},"author":1,"featured_media":74986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"4","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[1740],"class_list":["post-74985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-bitcoin-industry-in-numbers"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"4","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=74985"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74985\/revisions"}],"predecessor-version":[{"id":74987,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74985\/revisions\/74987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/74986"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}