Market Signal Briefing

XRP network health scorecard: wallets, trustlines, DEX volume, uptimeKey takeawaysRipple and Aviva Investors said Feb. 11 they intend to tokenize traditional fund structures onto the XRP Ledger “over 2026 and beyond.”Messari’s State of XRP Ledger Q4 2025 reported 425,400 total new addresses in Q4 2025 (down 4.9% QoQ) and average daily active addresses of about 49,000, alongside 1.83 million average daily transactions.XRPL’s consensus model centers on validator trust lists, and the network’s standard quorum requires 80% of trusted validators, meaning availability is part of any “payments rail” narrative.A “network health” view in 2026 needs explicit separation between payments, market activity (DEX throughput), and infrastructure health, especially when sources revise on-chain definitions over time.Who this is forLong-term XRP holders tracking real usage rather than price-only narrativesSwing traders monitoring on-chain participation and DEX throughput regimesInstitutional and treasury readers evaluating tokenization rails and operational risk (see CryptoSlate coverage of XRPL tokenization activity)What to watch this quarterWhether address formation keeps expanding alongside trustline activity, rather than diverging (internal reading: XRP wallet cohorts and on-chain participation)Whether DEX throughput stays elevated beyond event windows, and whether AMM activity holds up versus the native order book (context: DEX volume vs. venue structure)Validator availability assumptions tied to XRPL’s 80% quorum requirement (context: XRPL validation halts and outage risk)Pipeline milestones from the Aviva-Ripple tokenization effort, framed as delivery steps rather than live volume (context: tokenization market snapshot)What counts as XRPL usage (and what doesn’t)XRPL’s “usage” claims often compress different behaviors into one line, even though the ledger’s health spans payments, exchange activity, and validator operations.

At the protocol level, XRPL relies on a Unique Node List, defined as “a server’s list of validators that it trusts not to collude.”

That trust surface ties directly to uptime risk.

XRPL documentation says the standard quorum requirement is 80% of trusted validators, and if more than 20% go offline, servers stop validating new ledgers.

For 2026 monitoring, validator liveness belongs in the same dashboard as wallets and exchange activity. Throughput without availability can fail the “rail” test when validation halts occur.

Payment volume vs. transactions, the metric that prevents bad conclusionsA network health view needs two separate payment measures: payment count and payment value. Transaction counts can move in ways that do not reflect economic settlement.

In Messari’s Q4 2025 report, payment-type transactions declined 8.1% QoQ to 909,000 in Q4 2025.

Active accounts and new accounts, adoption proxies (not users)Messari reported 425,400 total new addresses on XRPL in Q4 2025. Wallet creation can be a capacity gauge. It is not a clean user count because entities can control many addresses, and automation can inflate account creation without broad participation.

Trustlines remain a second proxy for whether the asset graph is widening, but “trustlines outstanding” is not presented as a headline quarterly total.

Instead, the report provides a clean, comparable proxy for trustline activity: TrustSet transactions (the transaction type used to open/close trust lines) represented 0.7% of Q4 2025 transaction count share.

A practical 2026 read is to watch whether address formation and trustline-setting activity trend together across multiple quarters.

A split, such as addresses up while trustline-setting activity fades, can imply address formation without deeper asset connectivity.

DEX throughput and trustlines, interpreting on-chain market activityXRPL’s DEX activity is a clean example of why dashboards must label metrics precisely.

Messari’s Q4 2025 report separates the native order book (CLOB) from AMM activity. Average daily CLOB volume of fungible issued currencies decreased 10.1% QoQ from $7.9 million to $7.1 million.

Average daily AMM volume decreased 24.9% QoQ, falling from $1.7 million in Q3 to $1.3 million in Q4. The series measures throughput rather than liquidity. Volume can surge without durable depth, and depth metrics require order-book or AMM-reserve measures.

For forward monitoring, two scenarios matter more than a single-quarter move.

Persistence case: AMM and CLOB activity remain durable and trustline-setting activity holds up, aligning throughput with a wider on-ledger asset network.Reversion case: DEX throughput mean-reverts toward prior-quarter levels, reframing spikes as event-driven rather than structural.Whale concentration, when distribution matters more than growthA network health dashboard also needs a concentration lens. That is true even when it cannot yet publish a complete concentration table from stable sources.

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Concentration can matter in three places that affect interpretation: XRP holdings across top accounts, DEX activity concentration across pairs or takers, and wallet creation that clusters around exchange or programmatic patterns.

The correct 2026 stance is methodological: treat concentration as an interpretation module that gets activated once a source with stable definitions is added, and avoid numeric claims in the interim.

Metrics dashboard template for 2026, plus chart calloutsTwo institutional markers now frame the near-term narrative. On-chain metrics serve as the scorecard.

Ripple and Aviva Investors said their partnership reflects an intention to tokenize fund structures on XRPL, with work planned “over 2026 and beyond.”

That makes delivery milestones the relevant unit of measurement rather than immediate issuance volume.

Canary’s XRP fund launched in November 2025. For context, see CryptoSlate’s XRPC launch-day trading coverage.

Macro runway context sets expectations for what “adoption” could mean.

McKinsey sized tokenized assets at about $2 trillion by 2030 in its base case, with a $1 trillion–$4 trillion scenario range, which excludes cryptocurrencies and stablecoins.

A separate Ripple and BCG forecast projected $18.9 trillion by 2033, listing barriers including fragmented infrastructure and uneven regulatory progress.

Payments modernization also runs on multi-year timelines. The BIS said the CPMI will maintain harmonized ISO 20022 data requirements until end-2027.

XRPL network health dashboard (starter table)ModuleMetricLatest baselineWhy it matters in 2026SourceInfrastructure healthConsensus trust surface (UNL)Default UNL lists published by XRPL Foundation and RippleDefines validator trust assumptions behind “rail” narrativesXRPL UNL docsInfrastructure healthLiveness threshold80% quorum; >20% trusted validators offline can halt validationAvailability budget for production usageXRPL Negative UNL docsAdoption proxiesNew addresses (wallet formation proxy)Q4 2025: 425,400Address formation rate, not user countMessari Q4 2025Adoption proxiesTrustline-setting activityQ4 2025: TrustSet = 0.7% of transaction count shareProxy for asset-graph expansion when trustlines-outstanding totals aren’t providedMessari Q4 2025Market activityDEX throughput (CLOB vs AMM)Q4 2025 avg daily: CLOB $7.1M; AMM $1.3MThroughput regime, separated by venue primitiveMessari Q4 2025Payments (kept separate)Payment transaction countQ4 2025: 909,000Needed to distinguish payments from exchange activityMessari Q4 2025Payments (kept separate)Payment value–Primary adoption KPI for a payments thesisMethod noteXRP monitoring routineAction checklist, a quarterly routine

Log one infrastructure assumption alongside usage metrics, anchored to XRPL’s 80% quorum rule and offline threshold.Track addresses and trustline-setting activity together, and treat single-quarter moves as incomplete without follow-through.Treat DEX volume as a regime indicator, then test persistence by comparing against prior quarters and CLOB vs AMM activity.Write ETF references with both the inception date and announcement publication date when using XRPC as an access proxy.Keep macro expectations bounded by scenario ranges, then measure share capture with on-chain proxies, using McKinsey’s $1 trillion–$4 trillion 2030 range as a planning envelope.Mentioned in this articlePosted in

Steak 'n Shake says same-store sales have climbed sharply since it began accepting bitcoin nine months ago. The company now holds about 161 BTC in a corporate reserve and is using part of it to fund employee bonuses.

Goldman Sachs' David Solomon says he owns 'very little' bitcoin but watching it closely“I’m an observer of bitcoin,” Solomon said at the World Liberty Forum on Wednesday, saying he's still trying to understand how it moves. Feb 18, 2026, 4:22 p.m.

PALM BEACH, Fla. — Goldman Sachs CEO David Solomon said he owns "very little, but some" bitcoin, although he continues to follow the asset closely as part of a broader interest in how technology is reshaping finance.

“I’m an observer of bitcoin,” Solomon said at the World Liberty Forum on Wednesday, saying he's still trying to understand how it moves.

STORY CONTINUES BELOW

While Goldman Sachs has taken a cautious approach to digital assets, the firm’s leadership sees crypto as part of a longer-term shift in financial infrastructure, Solomon noted.

He dismissed the idea that traditional banks and crypto firms are locked in a zero-sum fight. “It’s one system, it’s our system,” he said. “We have to do it the right way … and there’s going to be disagreements and that’s OK.”

Solomon said the evolution of markets is being shaped by large-scale technology platforms, and tokenization will play a central role.

“The evolution of those platforms … there’s obvious impact,” he said. “Tokenization ... that I think is super important.”

While other banking giants such as JPMorgan and Morgan Stanley have pushed deeper into the digital asset space, Goldman Sachs' involvement has been limited so far. The main reason, according to Solomon, is regulation.

“Until 10 minutes ago, the regulatory structure was extremely prohibitive,” he jokingly said, but suggested that as regulators begin providing greater latitude for companies to get "more involved" in the sector, Goldman may take another look.

Read more: Goldman Sachs sees regulation driving next wave of institutional crypto adoption

'Got to get it right'Solomon criticized the economic effects of overregulation.

“When you burden this system with excessive regulation, you start to extract capital,” he said. “That absolutely happened in the last five years.”

He emphasized getting the approach right. “It’s got to be done thoughtfully, and we’ve got to get it right.”

Solomon previously said that the banking giant is ramping up its research and internal discussions around crypto-adjacent technologies, including tokenization and prediction markets.

Read more: Goldman is 'spending a lot of time' on crypto, prediction markets efforts, CEO Solomon says

More For You

Bitcoin's plunge signals coming AI crisis, but massive Fed response will drive new record high: Arthur Hayes

1 hour ago

The rise of artificial intelligence is likely to displace millions of workers in quick order, triggering sizable credit defaults, said Hayes.

What to know:

Bitcoin's recent crash is signaling a coming massive AI-related credit event, wrote Arthur Hayes.The Fed's response to the coming financial crisis is likely to restart the crypto bull market.That doesn't mean there won't be more pain ahead for bitcoin bulls, as political division could delay central bank action.

TL;DR

The CIO of Bitwise Asset Management, Matt Hougan, said the DeFi sector could play a central role in emerging from the bear market in 2026. Hougan noted that DeFi tokens were designed as governance tokens without revenue rights, in response to the regulatory framework applied by the SEC. Michael Saylor, Executive Chairman of Strategy, stated that the market is going through a “crypto winter” and that the current cycle would be milder and shorter than previous ones. The CIO of Bitwise Asset Management, Matt Hougan, said the decentralized finance (DeFi) sector could lead the way out of the crypto bear market in 2026. In a memo to clients, he noted that bear markets often overshadow meaningful progress and that several decentralized protocols are posting consistent operational metrics.

Hougan pointed out that Uniswap records trading volume on its decentralized exchange that frequently exceeds that of Coinbase. He also highlighted that Aave generates more than $100 million in annual revenue. According to the executive, these platforms operate as businesses with active users and revenue generation.

DeFi Market Obstacles and Potential Solutions The executive argued that one of the main challenges facing DeFi tokens has been the design of their tokenomics. Many were structured as governance tokens without direct rights to protocol revenue. That architecture reflected the regulatory environment in place at the time of their launch, when the U.S. Securities and Exchange Commission applied the Howey test to determine whether an asset qualified as a security.

In that context, Hougan referenced the “Aave Will Win” proposal introduced by Aave Labs. The plan calls for 100% of revenue from Aave-branded products—including the website, a mobile app, the Aave Card, and institutional services—to be directed to the DAO treasury controlled by DeFi token holders. In exchange, Aave Labs would receive $25 million in stablecoins, 75,000 AAVE tokens, and up to $17.5 million in milestone-based grants, in a package totaling nearly $50 million. The initiative includes the development of Aave V4 and the transfer of intellectual property to the DAO, while a new foundation would oversee the brand.

A Shorter, Milder Crypto Winter The executive also pointed to recent investments by BlackRock in DeFi protocol tokens such as Uniswap and by Apollo Global Management in Morpho.

In addition, Michael Saylor, co-founder and Executive Chairman of Strategy, stated that the market is experiencing a “crypto winter.” Saylor said the current cycle would be milder and shorter than previous ones and cited stronger banking system support, capital inflows, and technological advances as factors shaping the current environment

XRP’s weekly structure is drawing increased scrutiny as price consolidates within a historically sensitive range. Rather than signaling an end, a prominent XRP enthusiast suggests this phase could be laying the groundwork for a major structural pivot. Understanding this setup is key to seeing how historical consolidation phases define XRP’s expansion framework.

Historical Consolidation Phases Define XRP’s Expansion Framework In a recent assessment posted on X (formerly Twitter), XRP market commentator @Austin_XRPL highlighted the asset’s historical price behavior as evidence of a recurring structural process. According to a chart he posted, each major appreciation cycle was consistently preceded by prolonged consolidation, during which price carefully built acceptance before advancing.

He points to the $0.15–$0.30 range as the earliest modern base, where XRP spent roughly two years forming foundational support before moving higher. Similar behavior occurred between $0.30–$0.50, establishing another two-year launch platform that allowed accumulation to occur efficiently. As price climbed, consolidation periods shortened but remained critical: $0.50–$0.75 saw about 18 months of structured interaction, followed by nearly a year of basing between $0.75–$1.30. Even the upper macro region of $1.80–$3.40, often interpreted through a distribution lens, recorded more than a year of sustained trading and accumulation.

Source: Chart from Austin on X Austin’s framework emphasizes that expansions only follow extended structural preparation and disciplined accumulation. If XRP is now building a “final base” at current levels, the implication is clear: adequate consolidation could lay the necessary groundwork for the next significant and potentially long-term markup phase.

Building The Final Base: $1.30–$1.80 In Focus Austin identifies the $1.30 to $1.80 range as the only major zone on XRP’s macro chart that never formed a proper base. His chart shows the price moved through this corridor rapidly during prior rallies, leaving minimal consolidation.

He classifies the area as an inefficient range, where price advances without establishing durable support. Structurally, markets often revisit such zones to stabilize liquidity and build balance where trading activity was previously thin. Recent weekly price action shows XRP transacting within this corridor rather than rejecting it. Austin interprets this as structural repair, describing the behavior as gap-filling — price rotating inside the range to establish acceptance.

If this process continues, he views it as a base formation. Converting this historically underdeveloped corridor into support would close what he considers the final structural gap on the macro chart, leaving all lower zones with established consolidation histories. The implication is reduced resistance above. Because XRP spent limited time consolidating beyond this band in prior cycles, overhead supply may be thinner once expansion begins.

Within this framework, completing a base here signals late-stage preparation. With the inefficiency resolved and support established, XRP would be structurally positioned to transition from consolidation into expansion, with any breakout reflecting completed market structure rather than sentiment-driven momentum.

XRP trading at $1.49 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured Image from Peakpx, chart from Tradingview.com

Bitcoin volatile, but flat, while crypto stocks bounce amid cooling AI fearsCoinbase, Circle, Galaxy, IREN and Riot led the early morning rebound among crypto-related stocks as the battered software sector found some relief. Feb 18, 2026, 4:35 p.m.

Bitcoin BTC$67,259.13 can't seem to pick a direction, wildly swinging in the early hours of the Wednesday U.S. session with dips quickly bought and bounces erased just as fast.

Losing its overnight push above $68,500, BTC dumped below $67,000 at the start of U.S. trading. Buyers quickly stepped in, driving a sharp rebound to $68,300, but the bounce proved fleeting with prices quickly falling back to $67,000. Ether (ETH) followed a similar path, dipping back below $2,000 and down roughly 1% over the past 24 hours.

STORY CONTINUES BELOW

Part of the crosscurrents came from traditional markets. On one hand, a steadier tone in risk assets came as concerns around artificial intelligence disruption in the tech sector cooled. The iShares Expanded Tech-Software ETF (IGV), a proxy for the software sector that had been under pressure over the past weeks, bounced 1.9% in morning trading, suggesting some relief.

The broader Nasdaq was higher by 1.3% and the S&P 500 by 0.85%>

On the other hand, geopolitical jitters are back as traders increasingly brace for potential escalation between the U.S. and Iran. Traders on the prediction market Polymarket now assign more than 50% odds that the U.S. will launch strikes against Iran before March 15, up from about 30% just a day ago.

Gold climbed 2.5% to reclaim the $5,000 level, while silver surged 6%. U.S. crude oil jumped more than 3% to above $64 a barrel, underscoring heightened supply risks.

Despite the choppy crypto price action, crypto-related equities were bouncing. Exchange giant Coinbase (COIN), stablecoin issuer Circle (CRCL) and digital asset investment firm Galaxy (GLXY) were all 3%-5% higher.

Miners and AI-linked data center plays such as Riot Platforms (RIOT) and IREN (IREN) outperformed further, with each posting gains of 5.5%.

More For You

Goldman Sachs' David Solomon says he owns 'very little' bitcoin but watching it closely

20 minutes ago

“I’m an observer of bitcoin,” Solomon said at the World Liberty Forum on Wednesday, saying he's still trying to understand how it moves.

What to know:

Goldman Sachs CEO David Solomon said he owns only a small amount of bitcoin but is closely watching the cryptocurrency as part of a broader shift in financial technology.Solomon argued that traditional finance and crypto are part of a single evolving system, with tokenization poised to play a central role in future market infrastructure.He said Goldman’s limited crypto involvement has been driven largely by what he called prohibitive regulation, warning that excessive rules can drain capital from the financial system even as he urged a thoughtful approach.

Shiba Inu analyst cites 2021 pattern, sees potential 1,606% rally to $0.0001114 after months of sustained selling pressure.

Newton Gitonga2 min read

18 February 2026, 04:40 PM

Shiba Inu has endured a prolonged downturn, yet some analysts argue the setup resembles a past breakout phase. After months of red closes, attention has shifted to whether the token’s structure mirrors its 2021 recovery. Market participants now weigh historical precedent against ongoing selling pressure. The debate centers on whether SHIB can repeat its explosive rally from four years ago.

2021 Comparison Fuels Fresh Shiba Inu Price PredictionAccording to analyst MasterAnanda, Shiba Inu’s current structure reflects its 2021 consolidation period. He stated that extended weakness often precedes sharp reversals in volatile crypto assets. SHIB recently closed several consecutive months in the red. During this stretch, the token fell to multi-year lows and printed its lowest price on Coinbase.

MasterAnanda referenced similar price behavior from early 2021. At that time, SHIB traded sideways before momentum shifted rapidly. Between September and October 2021, the token surged 1,332% in six weekly candles. That rally unfolded in roughly 42 days.

He noted that the floor price in early September 2021 marked SHIB’s lowest level on Coinbase, not its global all-time low. After reaching that point, the price accelerated to unprecedented levels. He now argues that a comparable pattern may be forming.

In early February this year, SHIB dropped to $0.00000507, creating what he described as another potential floor. While he acknowledged that no two cycles match perfectly, he maintained that similar structures deserve attention. He added that Shiba Inu can grow in unexpected ways once momentum returns.

Selling Pressure Builds Case for Long-Term ReversalSHIB’s recent decline follows nearly two years of downward movement from its March 2024 high of $0.0000456. Weekly closes, and momentum indicators reflect persistent selling pressure. The analyst described this phase as severe capitulation.

However, he stated that long bearish trends often precede extended growth cycles. He added that no downtrend lasts indefinitely. He framed this view as common market logic rather than speculation.

He also pointed to broader crypto market expansion. Bitcoin and other large-cap assets continue to evolve, he said. Total market participation remains significantly higher than in earlier cycles.

If SHIB begins printing higher highs and higher lows, he argued that price dynamics would shift quickly. A shared chart projected a potential long-term target of $0.0001114. That level implies a 1,606% increase from the current price of $0.00000645. Interim take-profit zones stand at $0.0000206, $0.0000303, and $0.0000708.

He emphasized that no outcome carries guarantees. Still, he insisted that Shiba Inu will recover, noting that discouraging periods often precede improved conditions.

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Newton Gitonga covers cryptocurrencies, blockchain, and digital finance. He specializes in breaking down complex trends with clear, data-driven reporting. His work focuses on market analysis, technical insights, and the evolving role of altcoins in shaping global markets.

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Latest Shiba Inu News Today (SHIB)

The BNB Chain sector continues to navigate heavy turbulence amid a broader crypto market downturn.

TL;DR:Market Resilience: BNB sector adds $5.3B to market cap despite extreme bearish sentiment.Token Movements: WLFI and others surge, while MYX Finance dumps 71%.Ecosystem Growth: New hackathons, campaigns, and DeFi integrations signal ongoing development.The BNB Chain sector continues to navigate heavy turbulence amid a broader crypto market downturn, but a wave of infrastructure upgrades and ecosystem launches suggests builders aren't slowing down.

Here's the latest market recap.

BNB Chain Market RecapThe CMC Crypto Fear and Greed Index currently reads 12, deep in Extreme Fear territory.

It touched a year-to-date low of 5 on Feb. 6, reflecting one of the most bearish sentiment readings ever recorded.

Despite this, the BNB sector showed signs of recovery this week. The sector added $5.3 billion (+3.6%) to its market capitalization since our last update.

BNB (BNB) is trading at ~$615 as of Feb. 18, sitting roughly 55% below its all-time high of $1,370 set in October 2025. The token is down 33.7% over the last month, but is beginning to show signs of recovery. It’s currently up 3.6% week-over-week (WoW) and holding strong above the 200-week moving average.

The large majority of prominent BEP-20 tokens are in the green this week. Some standouts, and their catalysts, include:

siren (SIREN): +115.4% (Massive whale withdrawals signaled further strength)Everlyn AI (LYN): +37.4% (Unclear catalyst)World Liberty Financial (WLFI): +21.8% (Mar-a-Lago "World Liberty Forum" event hype)Midnight (NIGHT): +21.6% (Mainnet launch confirmed for late March + new exchange listing)The biggest loser spotlight falls on MYX Finance (MYX). The token dumped 71.1% WoW and saw its weekly Relative Strength Index (RSI) drop to ~24 (the lowest on record).

The sentiment on social media remains deeply divided between conviction holders and technical bears.

Community members continue to rally around BNB's fundamental durability—particularly its auto-burn mechanism, which destroyed approximately 1.37 million BNB (worth roughly $1.27 billion) in the 34th quarterly burn earlier this year.

One analyst noted that BNB's monthly stochastic oscillator—which measures whether an asset is oversold or overbought relative to its recent range—has dipped below levels seen at the 2022 bear market bottom, only the second time in three years it has reached this oversold extreme.

On the bearish side, Standard Chartered's head of digital assets research, Geoff Kendrick, warned in a Feb. 12 note that Bitcoin could slide to $50,000 before finding a floor, adding that he expects "more pain" in the near term.

The bank slashed its year-end 2026 BTC target from $150,000 to $100,000 and cut its BNB forecast from $1,755 to $1,050, citing ETF outflows and a challenging macro backdrop. (source)

BNB Chain News RoundupFrom developer programs to the upcoming World Liberty Forum, here are the key developments from the ecosystem this week.

BNB Chain and YZi Labs Bring $160K Hackathon to Bengaluru: The two-day event on Feb. 27–28 offers prizes across four tracks, plus fast-track access to the $1 billion Builder Fund for top finishers.

https://twitter.com/BNBCHAIN/status/2021519854453370975

BNB Chain Launches $88K Lunar New Year Campaign: Running Feb. 17 through March 3, the eight festive ecosystem campaigns span trading, staking, NFT minting, and prediction markets across protocols like ChainGPT, Four.meme, and Predict.fun.

https://twitter.com/BNBCHAIN/status/2024091620778430682

World Liberty Financial Hosts Mar-a-Lago Forum: The Trump-backed DeFi project is holding its sold-out World Liberty Forum on Feb. 18, drawing nearly 400 leaders from Goldman Sachs, the CFTC, Franklin Templeton, FIFA, and more. WLFI surged ~20% ahead of the event. (source)

Binance Wallet Expands Web3 Loans via Venus Protocol: The integration adds new borrowable assets, including CAKE, BTCB, and USD1, alongside fresh collateral options like SOL, XRP, and XVS—pushing the CeDeFi hybrid model deeper into BNB Chain's DeFi stack.

https://twitter.com/BinanceWallet/status/2021918851710300501

>> That’s a wrap! Check in next week for another dose of BNB Chain insights and updates!

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Journalist

Posted: February 18, 2026

Sui’s native token [SUI] continued to trade below the $1 mark on Wednesday, even as institutional access to the asset broadened following the launch of two separate staked SUI exchange-traded products in the U.S.

The muted price reaction came despite announcements from Canary Capital and Grayscale on 18 February. They unveiled investment vehicles designed to offer regulated exposure to SUI while capturing on-chain staking rewards.

At the time of writing, SUI was trading around $0.95, down more than 1.7% on the day. It was trading near its lowest levels since late 2023, according to TradingView data.

Two staked SUI products go live On Wednesday, 18 February, Canary Capital announced the launch of the Canary Staked SUI ETF [SUIS], which began trading on Nasdaq. 

The fund provides spot exposure to SUI, the native token of the Sui Network, while also participating in the network’s proof-of-stake validation process. Net staking rewards are reflected directly in the fund’s net asset value.

According to Canary, the product is aimed at investors seeking regulated exposure to emerging Layer-1 networks.

On the same day, Grayscale also rolled out its own staked SUI product [GSUI], expanding its suite of single-asset crypto vehicles beyond Bitcoin and Ethereum. 

While structured differently from an ETF, the Grayscale product similarly allows investors to gain exposure to SUI alongside staking yield. It reinforces the firm’s longer-term view on proof-of-stake networks.

The near-simultaneous launches suggest rising institutional interest in Sui as an investable network, even as broader market sentiment remains cautious.

Institutional access widens as price stays under pressure Despite the expansion in access, SUI’s price failed to respond positively to the news. The token has been locked in a steady downtrend since late 2025, falling from highs above $3 to below $1, with recent rallies repeatedly rejected.

Trading volume spiked briefly following the ETF announcements. Still, momentum quickly faded, indicating that the new products have yet to attract significant speculative inflows.

Source: TradingView

The lack of immediate upside may reflect the current macro backdrop and a broader shift toward long-term accumulation rather than short-term positioning. 

Staked products, in particular, tend to appeal more to allocators focused on yield and network fundamentals than to momentum-driven traders.

Final Summary Canary’s SUIS and Grayscale’s GSUI expand regulated access to SUI with staking yield, signalling growing institutional product interest in the network. SUI still trading below $1 suggests the market is prioritizing broader risk conditions over ETF/ETP launches, keeping near-term price reaction muted.

Hyperliquid Foundation is helping to create a policy group tasked with lobbying for DeFi interests on Capitol Hill, with a roughly $29 million donation of HYPE tokens to get the ball rolling, according to a statement from Wednesday.

"The Hyper Foundation will contribute 1 million HYPE tokens to support the creation of the Hyperliquid Policy Center," the group posted to X. "The tokens will be unstaked later today. The Hyperliquid community will benefit from having representation in Washington, D.C., and we are confident that under Jake Chervinsky's leadership, the Hyperliquid Policy Center will have a meaningful impact in favor of clear regulations for decentralized finance."

The move comes as lawmakers continue to weigh passing legislation designed to better define how the digital asset industry should be regulated in the U.S. So far during President Donald Trump's administration, meaningful gains have been made to facilitate growth across cryptocurrency-related businesses and investment opportunities. But many key matters have yet to be clearly defined.

While Senate committees have been moving forward with legislation that would regulate the crypto industry writ large, some issues, such as on how to treat stablecoin rewards, remain unresolved and have potentially held up the advancement of the CLARITY Act.

"[Hyperliquid Policy Center] is an independent research and advocacy organization dedicated to ensuring that DeFi can flourish in the United States," Chervinsky posted to X. Chervinsky previously led Variant Fund's legal team, where he remains as an advisor, and is a board member of the Blockchain Association lobbying group.

Hyperliquid is decentralized perpetual futures exchange that competes with centralized exchanges like Coinbase, a company which has long been active in Washington D.C., lobbying for crypto-friendly policies.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

• Billionaire Peter Thiel’s investment firm, Founders Fund, completely divested its entire stake in Ethereum treasury management firm ETHZilla, as per a recent SEC filing.

• The shares of ETHZilla fell after the news, highlighting the sensitivity of investors to prominent departures in crypto-related firms.

Billionaire investor Peter Thiel and his venture capital firm, Founders Fund, have made a complete divestment in ETHZilla Corporation. This has been revealed through a filing by the US Securities and Exchange Commission (SEC), which states that there are no shares held as of December 31, 2025. Earlier, Thiel’s entities had a stake of approximately 7.5 percent in the digital asset treasury firm.

The initial investment made by Thiel’s group in ETHZilla had earlier attracted considerable media and investment attention. This investment had earlier caused the stock price of ETHZilla to rise considerably in mid-2025. However, the volatility in the crypto market and the weakness in the price of Ether had put pressure on its balance sheet.

ETHZilla also implemented targeted sales of its Ether holdings to pay off debt in late 2025. The company allegedly sold approximately $74.5 million worth of ETH in these efforts. Several SEC filings demonstrate that the corresponding Founders Fund groups reflect a lack of beneficial ETHZilla ownership. This full-scale exit illustrates how major investors adjust their holdings when market conditions change.

Market Response and Firm Pivot The stock price of ETHZilla declined in the after-market session based on the news of Thiel’s full divestment. The stock price declined by about three percent, with the digital asset treasury stocks also underperforming. The year-to-date performance of ETHZilla’s stock price indicated a significant decline from the previous peaks. The firm initially had a biotech identity but later switched to an Ethereum treasury approach in mid-2024. This firm pivot included accumulating substantial Ether holdings as part of the treasury. ETHZilla expanded its business into the tokenization of real-world assets and the offering of aerospace tokens during challenging market conditions. 

The company accumulated housing loans and jet engines for potential tokenization initiatives. Such developments indicated a move away from solely depending on the ETH treasury. ETHZilla remains operational despite the loss of prominent supporters. Market participants are now waiting to see what other institutional sentiment signals emerge in crypto treasuries. The Market response is a reflection of marquee investor activity impacting crypto-focused publicly listed companies. ETHZilla is still adjusting its business model despite navigating market sentiment and price volatility. 

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I specialize in Web3 and crypto writing, producing clear, research-driven content on blockchain, cryptocurrencies, and market trends.

Arthur Hayes has issued a stark market warning: he sees a growing split between his preferred risk gauge, Bitcoin, and the tech-heavy Nasdaq 100 as a signal that credit stress may be building under the surface.

Hayes, a co-founder and former CEO of cryptocurrency exchange BitMEX, calls Bitcoin a “fiat liquidity fire alarm” — an asset that reacts quickly when credit conditions change.

A Warning From Market Signals When two assets that often moved together start to pull apart, traders take notice. Hayes believes that a gap like this deserves investigation because it could point to trouble in bank balance sheets or in the flow of lending.

He argues the move is not about one stock or one trade; it is about the plumbing of credit and how fast liquidity can dry up when things turn.

Source: Arthur Hayes How AI Job Cuts Could Ripple Through Credit Reports note that companies cited AI as a reason for thousands of layoffs in recent years, with an outplacement firm counting roughly 55,000 cuts in 2025 that were tied to AI. Much of that hit was inside tech.

Hayes sketches a rough scenario: a sizable drop in knowledge-worker employment would weaken mortgage and consumer credit repayment, which could then shave bank equity and tighten lending.

The numbers he offers are approximate and built on multiple assumptions, but they are intended to show how a shock to white-collar paychecks could cascade into the credit system.

Source: Arthur Hayes Expectations About Central Bank Action Hayes expects a policy response if banks start to fail and credit freezes. He argues the Federal Reserve would step in with fresh liquidity, and that more money creation would follow — a move he says would be favorable for Bitcoin’s price outlook.

That scenario has been a recurring theme in his commentary; past essays and posts have linked anticipated Fed liquidity to sharp rallies in crypto markets.

BTCUSD currently trading at $67,298. Chart: TradingView Altcoin Bets And Fund Positioning His fund, Maelstrom, is said to plan staking or stablecoin deployments into privacy-focused and exchange-native plays once liquidity policy shifts occur, naming Zcash and Hyperliquid as examples. That kind of tactical stance is meant to profit from a short-term surge in risk assets after a policy pivot.

A Measured View This is a dramatic chain of events: AI job losses lead to credit losses, which cause bank stress, which forces the central bank to expand money supply, which lifts Bitcoin.

Each link is plausible, but none is guaranteed. Some of Hayes’ figures are rough estimates meant to illustrate risk rather than to act as a precise forecast.

Market history shows that central banks do sometimes step in, and that policy moves can power asset rallies, but outcomes depend on timing, scale and public confidence — factors that are hard to predict in advance.

Featured image from Unsplash, chart from TradingView

Jake Chervinsky, CEO of the Hyperliquid Policy Center, said markets are migrating to blockchain, and the U.S. need to adopt new rules of risk being left behind. Feb 18, 2026, 3:07 p.m.

Hyperliquid (HYPE), a blockchain-based exchange that processed more than $250 billion in perpetual futures trading last month, has launched a U.S. lobbying and research arm aimed at shaping how lawmakers regulate decentralized finance (DeFi).

The Hyperliquid Policy Center, a Washington, D.C.-based nonprofit, will focus on regulatory frameworks for decentralized exchanges, perpetual futures and blockchain-based market infrastructure, according to a Wednesday press release.

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Jake Chervinsky, a prominent crypto lawyer and former policy head at the Blockchain Association, will serve as founder and CEO.

The launch comes as Congress and federal agencies debate how to oversee crypto trading platforms and derivatives markets. Perpetual futures, which allow traders to hold leveraged positions without an expiration date, are widely used on offshore venues but remain a gray area under U.S. law.

The arrival of a new group also represents just the latest entrant into a Washington crypto-policy scene that's jammed with similar organizations, including the DeFi Education Fund and Solana Policy Institute, in addition to the broader groups such as the Digital Chamber, Blockchain Association and Crypto Council for Innovation. And the new organization lands as negotiation is well underway on Senate legislation that may set U.S. DeFi policy.

Hyperliquid operates a decentralized exchange that lets users trade perpetual futures directly on blockchain rails without a central intermediary. Instead of routing trades through a traditional broker or clearinghouse, transactions settle onchain.

The platform has emerged as one of the fastest-growing venues in crypto derivatives. It handled more than $250 billion in perpetual trading volume and $6.6 billion spot volume over the past month, DefiLlama data shows.

"Financial markets are migrating onto public blockchains because they offer efficiency, transparency and resilience that legacy systems cannot match," Chervinsky said in a statement.

"Now the United States must choose: We can either adopt new rules that allow this innovation to flourish here at home, or we can wait and watch as other nations seize the opportunity," he added.

The new policy group plans to brief lawmakers, publish technical research and advocate for rules tailored to decentralized systems, the press release said.

The Hyper Foundation, which supports the Hyperliquid ecosystem, is contributing 1 million HYPE tokens, worth roughly $29 million, to fund the launch. While that's less than was committed to the launch last year of the Ripple-backed National Cryptocurrency Association, it's much more than the $5.6 million the Digital Chamber spent in 2024 or the $8.3 million spent by the Blockchain Association, according to public filings.

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CFTC's Selig opens legal dispute against states getting in way of prediction markets

23 hours ago

Commodity Futures Trading Commission Chairman Mike Selig fired a legal warning shot defending his agency's jurisdiction over the event contract space.

What to know:

U.S. Commodity Futures Trading Commission Chairman Mike Selig directed his agency to file an amicus brief declaring his federal agency has authority over the U.S. prediction markets. Though the CFTC once fought a legal resistance against such firms as Polymarket and Kalshi, the agency has embraced them during the administration of President Donald Trump, whose son has worked as a paid adviser for the leading companies. As Selig defends his agency's jurisdiction in court, he's also pursuing new prediction markets rules for the U.S.

Bitcoin's plunge signals coming AI crisis, but massive Fed response will drive new record high: Arthur HayesThe rise of artificial intelligence is likely to displace millions of workers in quick order, triggering sizable credit defaults, said Hayes. Feb 18, 2026, 3:15 p.m.

BitMEX co-founder Arthur Hayes says bitcoin's BTC$68,168.18 recent 52% crash from its October all-time high is flashing a critical warning signal — but the crypto could ultimately soar to new records once the Federal Reserve responds to an AI-driven banking crisis he believes is imminent.

In his latest essay, "This Is Fine," Hayes argued that bitcoin's divergence from traditional tech stocks reveals its role as the "global fiat liquidity fire alarm." While the Nasdaq has remained relatively flat, bitcoin has plunged from $126,000 to its current $67,000, pricing in what Hayes describes as a massive credit destruction event that equity markets have yet to acknowledge.

STORY CONTINUES BELOW

"Bitcoin is the most responsive freely traded asset to the fiat credit supply," Hayes wrote. "The divergence recently between bitcoin and the Nasdaq sounds the alarm that a massive credit destruction event is nigh."

Hayes models a scenario where artificial intelligence displaces just 20% of America's 72.1 million knowledge workers, triggering approximately $557 billion in consumer credit and mortgage defaults — about half the severity of the 2008 financial crisis. This AI-driven shock would devastate regional banks and force the Federal Reserve into "the biggest money printing in history," he predicts.

"Deflation is bad, but ultimately good for fiat credit-sensitive assets like Bitcoin," said Hayes. "First, the market prices the impact ... Then ... the monetary mandarins panic and press that Brrrr button harder than I shred pow the morning after a one-meter dump."

Hayes noted gold's recent gains, particularly against bitcoin, as another red flag, stating that "a surging gold versus a slumping Bitcoin clearly tells us that a deflationary risk-off credit event within Pax Americana is brewing."

Hayes said that once the Fed intervenes with emergency liquidity measures — similar to the March 2023 response to regional bank failures — bitcoin will "pump decisively off its lows" and the expectation of sustained money printing will drive it to new all-time highs.

That doesn't mean there won't be more pain ahead for the foreseeable future, said Hayes. He warned bitcoin could fall further before the Fed acts, potentially breaking below $60,000 as political dysfunction delays the central bank's response. Crypto investors, he advised, should stay liquid, avoid leverage, and "wait for the all-clear from the Fed that it's time to dump filthy fiat and ape into risky assets with wanton abandon."

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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Canary lists spot SUI ETF with staking rewards

35 minutes ago

The Nasdaq-listed SUIS fund offers direct exposure to Sui’s native token while passing through proof-of-stake rewards in a regulated ETF wrapper.

What to know:

Canary Capital debuted SUIS, the first spot sui ETF that includes staking rewards.The fund provides direct exposure to sui’s price while reflecting net staking income in its NAV.The move expands the roster of proof-of-stake tokens entering regulated ETF structures.

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Ripple’s UK and Europe Managing Director Cassie Craddock has publicly welcomed the launch of Société Générale-FORGE’s euro-backed stablecoin on the XRP Ledger, calling it a milestone for institutional adoption in Europe.

In a statement following the deployment, Craddock said she was “delighted” that EUR CoinVertible is now live on XRPL, describing the move as a combination of institutional-grade compliance and the speed and cost efficiency associated with the network. She also confirmed that Ripple’s custody technology underpins the integration.

EURCV on XRPL: Multichain strategy and on-chain liquidity dataThe issuer, Société Générale-FORGE, announced that EUR CoinVertible is now available on XRPL as part of a multichain strategy that already includes Ethereum and Solana. 

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According to CEO Jean-Marc Stenger, the expansion reinforces the firm’s commitment to compliant, transparent digital asset infrastructure and opens the door to additional use cases, including trading collateral and potential product integrations.

Earlier this week, XRPL data showed rising use of Ripple USD in automated liquidity routing, with 477 auto-bridging events recorded in a single 24-hour window. The EUROP/RLUSD pair led activity, highlighting demand for euro-denominated stablecoin corridors. Approximately 15,000 XRP were used purely to facilitate exchange-rate liquidity, and 92% of trades on the ledger remained Token/XRP pairs, underscoring XRP’s role as the settlement layer.

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For European institutions operating under MiCA-aligned frameworks, the deployment signals increasing comfort with regulated on-chain euro liquidity. For Ripple, it strengthens positioning in custody and infrastructure rather than token issuance alone.

Chainlink price is once again trading at a critical turning point. After losing most of its gains, it slipped back into a price zone that previously acted as a prolonged accumulation base before the 2023 breakout. That shift alone changes the short-term narrative from expansion to compression.

Momentum has cooled, bullish continuation attempts have stalled, and traders are now watching whether this is a temporary reset or the early stages of a broader range-bound phase. The key question isn’t just whether LINK can bounce, but whether it can reclaim higher structure and rebuild strength above major resistance. Until that happens, the bias tilts toward consolidation rather than immediate breakout continuation.

LINK Re-Enters Macro Accumulation Zone as Momentum WeakensOn the weekly chart, LINK has slipped back into the same $6–$10 accumulation range that formed after the May 2022 breakdown. Back then, price entered the range after a sharp rejection, RSI dropped below 50, and volatility contracted for months before a base was established. The current setup looks similar. Momentum has faded again, RSI is hovering in the weak zone, and upside attempts are getting rejected near dynamic resistance.

The Gaussian Channel shows trend exhaustion rather than expansion, reinforcing the shift from trending to ranging conditions. $8 is immediate support for the LINK price rally, followed by the range floor near $6. A breakdown below $6 could open $4.50–$5. On the upside, LINK must reclaim $10 on a weekly close to target $12 and potentially $15. Until then, consolidation remains the dominant bias.

What’s Next for the Chainlink (LINK) Price Rally?Chainlink is at a structural crossroads. While the current setup resembles the 2022–23 accumulation phase, one key difference could prevent a prolonged range: a strong market-wide expansion led by Bitcoin. If BTC breaks into sustained price discovery and liquidity flows back into large-cap altcoins, LINK could invalidate the slow-accumulation thesis much faster. A decisive reclaim of $10 with expanding volume would signal early strength and open the path toward $12–$15. However, without a broader risk-on catalyst, LINK is more likely to remain range-bound, building energy before its next major move.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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Mike McGlone, Bloomberg Intelligence's senior commodities strategist, has come out with a chart that may change the conversation about Bitcoin from potential upside to statistical laws of gravity. His conclusion is pretty clear: recent price behavior might be a sign to be more cautious rather than to buy more.

Case for $28,000 BTC and "reverse wealth effect"In a note attached to the graphic, McGlone says that Bitcoin has gone back to its $66,000 mean since 2023, which is the average price over the current cycle. Yet the distribution tells a different story. The mode, the price level that has occurred most frequently, sits closer to $28,000. In practical terms, that suggests the market has spent more time trading far below today’s range than above it.

The chart shows Bitcoin's daily performance next to the Nasdaq-100, and McGlone says it puts a lot of pressure on equities to keep rising. If the Nasdaq-100 does not keep rising, risk assets that have benefited from more money and wealth might feel some pressure again.

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Source: Mike McGloneMcGlone's main idea is about what he calls a reverse wealth effect. Equity valuations are cooling down, and people's household balance sheets are tightening, which is making them less interested in speculation. With that in mind, when crypto prices drop, it is not just a one-time thing; it is a sign that the economy as a whole is actually shrinking.

This is different from the idea that BTC is an uncorrelated hedge. Instead, the data suggest a strong connection to technology stocks, with statistical clustering closer to $28,000 than to the recent highs above $60,000.

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The main takeaway is not a price target but a discussion of probabilities. If mean reversion has already happened near $66,000, and the most common trading zone since 2023 is materially lower, forward returns depend a lot on sustained equity expansion. Without that, downside volatility becomes the norm instead of a rare possibility.

Hyperliquid has launched the Hyperliquid Policy Center (HPC), a nonprofit research and advocacy group based in Washington D.C. The Hyper Foundation is backing the initiative with 1 million HYPE tokens, currently worth around $29 million.

Crypto lawyer Jake Chervinsky has been named the founding CEO. Chervinsky previously served as Chief Legal Officer at both the Blockchain Association and venture firm Variant.

He announced on X, “HPC is an independent research and advocacy organization dedicated to ensuring that DeFi can flourish in the United States. The future of finance will be decentralized.”

Why Does Hyperliquid Need a Policy Center?Hyperliquid processed over $250 billion in perpetual futures volume last month alone, making it one of the largest decentralized exchanges in crypto. But perpetual derivatives, while hugely popular in offshore markets, are still largely absent from regulated U.S. finance.

Chervinsky pointed out that current U.S. financial regulations were not written for decentralized technology like Hyperliquid. HPC will focus on working with lawmakers and regulators to build clear rules for DeFi and on-chain market infrastructure.

The Hyper Foundation said it is “confident that under Chervinsky’s leadership, the Hyperliquid Policy Center will have a meaningful impact in favor of clear regulations for decentralized finance.”

HPC Founding Team and Open RolesChervinsky is joined by Policy Counsel Brad Bourque, formerly of Sullivan & Cromwell LLP, and Policy Director Salah Ghazzal, who previously served as Policy Lead at Variant.

HPC is currently hiring for Chief of Staff, Head of Communications, and Head of Government Relations.

HYPE Token Price and Recent MovesHYPE is trading at around $29.20 with a market cap of approximately $7.5 billion. The token is down roughly 51% from its all-time high of $59.39, which it hit in September 2025.

The policy center launch comes just a week after Hyperliquid Strategies Inc. spent $129.5 million to buy 5 million more HYPE tokens at an average price of $25.9 per token.

With Congress currently working through the CLARITY Act and DeFi regulation still a major sticking point in the Senate, the timing of HPC’s launch lines up directly with one of the most active periods for crypto policy in Washington.

Also Read: Paxos Warns Banks Are Wrong About Stablecoins After GENIUS Act

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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The price of XRP is currently trading near $1.46, and some analysts say an important technical signal is starting to appear that could shape the token’s next major move. According to crypto analyst CryptoBull, investors should pay close attention to the Relative Strength Index (RSI) on the weekly and monthly charts, which is now showing unusually low readings.

What makes this signal interesting is that the RSI has fallen even lower than the levels seen during the 2020 market bottom, when XRP traded near $0.11. In simple terms, the RSI measures how strong or weak buying momentum is. When the indicator drops to extreme lows, it often means that selling pressure may be reaching exhaustion, creating conditions where prices can eventually recover.

EVERYONE take a close look so you understand why #XRP has bottomed and the next target prices are very high: the RSI on the weekly and monthly timeframe is BELOW the 2020 bottom of $0.11. The upside for the RSI is huge and it will put price well above $10 very soon. pic.twitter.com/hsqbN4KZb0

— CryptoBull (@CryptoBull2020) February 17, 2026 Because of this rare setup, the analyst argues that XRP may already be forming a long-term bottom, and if momentum begins to recover, the next phase of the market cycle could push prices significantly higher. Some projections shared by the analyst show that, over time, XRP could aim for double-digit price levels, with $10 being discussed as a possible long-term milestone if broader crypto market conditions turn bullish.

Short-term movement still cautiousIn the near term, XRP is moving in a relatively narrow range between $1.46 and $1.50, showing signs of stability after recent volatility. The next important resistance level sits near $1.54, where a breakout could signal stronger buying interest. At the same time, support levels around $1.41 and $1.37 remain key zones traders are watching in case of temporary pullbacks.

XRP may also be entering the early stages of a new growth cycle. These long-term patterns often take years to develop, but once momentum returns, they can lead to powerful price movements driven by renewed investor interest and expanding market participation.

While short-term price swings are likely to continue, the combination of historically low RSI readings, steady price consolidation, and improving market sentiment is drawing attention from traders who believe XRP could be preparing for a much larger move in the next phase of the crypto market cycle.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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TL;DR

Oracle Failure: Moonwell mispriced cbETH at $1.12 instead of $2,200, triggering liquidations that produced $1.78 million in bad debt and wiped out user collateral. AI Involvement: The faulty configuration included commits co-authored by Claude Opus 4.6, sparking debate over whether AI-assisted coding contributed to the error or merely surfaced a human-level oversight. Containment Measures: Moonwell froze the affected market by reducing caps to 0.01, but governance delays allowed liquidations to continue, adding to losses and highlighting ongoing oracle-related vulnerabilities in the protocol.
DeFi Lending Protocol, Moonwell, is facing renewed scrutiny after a critical oracle configuration error caused Coinbase Wrapped ETH to be mispriced at roughly $1.12 instead of its actual market value near $2,200, triggering a cascade of liquidations and leaving the lending protocol with approximately $1.78 million in bad debt. The incident, which unfolded on February 15 following the activation of governance proposal MIP X43, has drawn additional attention because the faulty code was partially authored by Anthropic’s Claude Opus 4.6, raising questions about AI-assisted development in DeFi infrastructure.

🚨Claude Opus 4.6 wrote vulnerable code, leading to a smart contract exploit with $1.78M loss

cbETH asset's price was set to $1.12 instead of ~$2,200. The PRs of the project show commits were co-authored by Claude – Is this the first hack of vibe-coded Solidity code? pic.twitter.com/4p78ZZvd67

— pashov (@pashov) February 17, 2026

Oracle Mispricing Triggers Liquidations According to Moonwell’s post-mortem report, the issue stemmed from an Oracle configuration that used only the cbETH to ETH exchange rate rather than multiplying that ratio by the ETH to USD price feed. This caused cbETH to be reported at just over $1, enabling liquidators to repay minimal debt and seize collateral worth thousands. A total of 1,096.317 cbETH was liquidated, resulting in $1,779,044.83 in bad debt across several assets. Moonwell’s monitoring systems detected the discrepancy quickly, but correcting the oracle required a governance vote, allowing liquidations to continue until the patch was finalized.

Governance Change and Containment Measures The vulnerability emerged immediately after Moonwell enabled Chainlink’s OEV wrapper contracts across Base and Optimism. Once the mispricing was identified, the team reduced supply and borrow caps for the affected cbETH market to 0.01, effectively freezing new activity. While this limited further damage, many users had already suffered severe losses. Some borrowers lost nearly all their collateral, while others exploited the incorrect pricing to borrow more than they should have been allowed, compounding the protocol’s debt.

AI Authorship Sparks Debate The pull request associated with the faulty configuration showed commits co-authored by Claude Opus 4.6, prompting debate over whether AI-generated Solidity contributed to the exploit. Smart contract auditor Pashov highlighted the AI involvement, while experts such as SlowMist founder Cos and Trading Protocol’s Mikko Ohtamaa argued the issue was a simple configuration mistake that could have been made by any developer and should have been caught by integration tests.

Moonwell has not attributed the incident directly to AI-generated code, but the episode adds to a series of oracle-related disruptions for the protocol. The event also echoes a recent pricing error at Bithumb, where a wrong unit assignment created tens of billions in phantom value, underscoring the risks of misconfigured financial logic in crypto systems.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

In a Feb. 18 livestream, Shiba Inu lead ambassador Shytoshi Kusama revealed a new AI-powered relationship platform. The AI relationship platform will focus on translation and compatibility, a tool designed for couples to identify patterns, friction points and long-term compatibility risks before they escalate.

While this new project is a separate personal initiative from the Shiba Inu lead ambassador, it could have future use for SHIB ecosystem, especially in Web3 exploration.

Lucie, a Shiba Inu team member, outlines five potential use cases, which include a DAO compatibility tool, allowing AI matching for cofounders, multisig partners, validators or DAO teams to reduce internal conflict before it escalates.

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Web3 exploration: ( possible nothing confirmed)

Future use for Shib ecosystem or @ShyOnSol_ could look like this:

• DAO compatibility tool
AI matching for cofounders, multisig partners, validators, or DAO teams to reduce internal conflict before it escalates.

• Token gated… https://t.co/e9L4HzqDD7?from=article-links

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) February 18, 2026 Second, it could serve as a token-gated premium layer, which will allow access to deeper AI insights using ecosystem tokens to create utility driven engagement. Third is reputation and social signal system, allowing compatibility and communication insights related to optional on-chain identity and strengthening coordination.

Fourth is its use as NFT or badge layer on Solana. A low-fee infrastructure could host collaboration or relationship milestone badges as social proof.

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Lastly, as an AI mediator for ecosystem apps. The translator layer could be adapted into governance discussion tools or advanced user support systems.

Crucial warning issuedShiba Inu SOU has gone live as part of efforts to restore users impacted by the Shibarium hack incident last September. SOU, a short form for "Shib owes you," is an on-chain NFT intended as a good-faith effort to support impacted Shibarium users with payouts, donations and occasional rewards.

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As the Shiba Inu SOU takes off, Lucie, a Shiba Inu team member, issues a crucial scam warning. In a tweet, Lucie alerted the Shiba Inu community that scammers are already running fake SOU portals.

There are already phishing links that mirror the official sites. Lucie highlighted these scams as those which intend to drain user wallets, warning users to only use the official portal.

"Verify contract addresses. Use a hardware wallet. Bookmark the real site. If something feels off, it probably is," Lucie stated.

$870 Million in Solana Supply Unlocks — Does It ‘Flag’ SOL Price Risk? Prefer us on Google

Liquid supply rises sharply as SOL staking withdrawals accelerateShort-term traders gain control while long-term conviction weakensSolana price nears critical level that could decide next major 50% moveSolana price has climbed about 5.5% over the past seven days, holding near the $85 level. This rebound followed a sharp decline earlier this month.

But beneath this recovery, a major supply shift is underway. Nearly $870 million worth of SOL has quietly moved out of liquid staking. At the same time, the Solana price continues to trade within a bearish continuation pattern. Together, these signals show why the coming days could decide Solana’s next major move.

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$870 Million Supply Unlock Adds New Risk as Solana Price WeakensThe biggest structural change comes from liquid staking activity. Liquid staking allows investors to lock SOL while still receiving a tradable token representing their deposit. This keeps the original SOL locked and unavailable for selling while the liquid staking token trades separately.

Since June 2025, the total amount of SOL locked in liquid staking protocols has dropped from 45.66 million SOL to 35.48 million SOL. This means 10.18 million SOL has exited liquid staking, over 22%. At the current Solana price, this equals approximately $870 million worth of SOL becoming liquid again.

SOL LSTs: DuneWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

This does not guarantee immediate selling, but it increases the amount of SOL that can now be sold. In simple terms, previously locked supply has become available supply. This increases potential selling pressure if market conditions weaken.

Validator staking trends confirm the same direction. Direct validator-staked SOL has also declined from 423.43 million SOL to 419.07 million SOL in recent weeks. This confirms the shift is not just internal rotation between staking types. Some SOL is leaving locked environments entirely, adding to liquid supply risk.

Validator Staking: DuneThis supply shift is happening while the Solana price is already fragile. After falling by over 50%, Solana rebounded. But the recovery stalled quickly, and Solana’s price now trades close to the lower boundary of a bear flag pattern.

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Bearish Pattern: TradingViewBreaking below the lower boundary can trigger a SOL price crash. Whether this happens depends heavily on investor behavior.

Short-Term Holders Increase Supply While Long-Term Holders Step BackOn-chain data now shows weakening conviction among stronger investors and rising influence from short-term traders. One key indicator confirming this is HODL Waves. This metric tracks how long coins remain in wallets before moving and separates supply into short-term and long-term holder groups.

Short-term Solana holders typically hold coins between one day and one week. These investors are more likely to sell during price volatility rather than hold long-term.

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Since Feb. 16, the supply held by these short-term holders has increased sharply from 4.58% to 5.85%. This sudden increase means more supply is now controlled by traders who historically sell faster. This raises the risk of sudden selling pressure during price weakness.

Short-Term SOL Holders: GlassnodeAt the same time, long-term holder conviction is weakening. This can be seen using the Hodler Net Position Change metric. This indicator measures whether long-term holders are accumulating or reducing their holdings over time.

On Feb. 3, long-term holders added 2,877,297 SOL on a 30-day net basis. That figure has now dropped to 1,013,353 SOL. This marks a decline of nearly 65%.

Long-Term Investors Not Buying Enough: GlassnodeThis sharp drop shows long-term investors are slowing their accumulation significantly. Long-term holders normally provide stability during corrections because they hold through volatility. When their accumulation slows, the price becomes more vulnerable to deeper declines.

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This creates a dangerous combination where the liquid supply is rising, short-term traders control more coins, and long-term support is weakening. Together, these conditions increase downside risk.

Solana Price Levels Show Where the Market Could Go NextSolana price now sits near a critical technical level that could decide its next trend. If SOL falls below the $82 support level, the bear flag breakdown could begin. The next support levels would appear near $67 and then near $50 as selling pressure increases.

If the full bearish pattern completes, Solana price could fall toward $41. This would represent roughly a 50% decline from current levels and fully confirm the bearish continuation structure.

However, recovery is still possible if buyers return strongly. If Solana price breaks above $91, the immediate bearish pressure would weaken and signal stronger demand returning.

Solana Price Analysis: TradingViewA larger recovery above $125 would invalidate the bearish pattern. But such a move would require strong and sustained accumulation.

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A previously unknown Hong Kong-linked entity called Laurore Ltd. surfaced as a major new buyer of BlackRock’s iShares Bitcoin Trust (IBIT) in the latest 13F disclosures, triggering a scramble among ETF watchers to identify who’s behind it and why the position appears purpose-built.

The catalyst was a post from ProCap CIO and Bitwise adviser Jeff Park late Tuesday, who highlighted Laurore as the “biggest new entrant into IBIT” from what he described as “a brand new entity” with “no website. No press. No footprint.” The only public breadcrumbs, Park said, are that “the filer’s name is Zhang Hui and it’s HK based.”

A Bloomberg terminal snapshot shared alongside the thread shows Laurore Ltd. reporting an IBIT position of 8,786,279 shares (worth approximately $337,3 million), amounting to roughly 0.65% of shares outstanding. The entry sits above a roster of recognizable allocators and intermediaries in the same view, underscoring how quickly the entity landed among top reported holders.

iShares Bitcoin ETF reporting Q4 | Source: X @dgt10011 Who Is The Mysterious New Bitcoin IBIT Whale? Park’s thesis leaned heavily on structure and signaling rather than confirmed identity. “Zhang Hui is the Chinese equivalent of John Smith. It’s what I like to call a ‘non-anonymous anonymous’ name, something hiding in plain sight buried under the statistical weight of millions to make it untraceable,” he wrote. “The ‘Ltd’ suffix suggests a Cayman or BVI structure, the classic offshore wrapper for accessing US markets. And the portfolio? A single holding. Nothing but IBIT.”

He then framed the position as something closer to a bespoke access rail than a conventional manager allocation. “This isn’t a diversified fund. It’s a $436 million Bitcoin access vehicle dressed in institutional clothing,” Park wrote, before pivoting to motive: “Because Chinese investors can’t hold Bitcoin.”

Park argued that if the read is correct, it could point to Chinese institutional capital seeking exposure “not through crypto exchanges or gray market channels, but through a BlackRock ETF,” using a jurisdiction he called “the most ‘transparent non-transparent’ place imaginable.”

Others in the ETF research orbit offered less romance and more uncertainty. Bloomberg Intelligence analyst James Seyffart replied that he had already tried to chase the trail. “I spent almost an hour trying to figure this out earlier this morning… I got absolutely nowhere. Lol,” he wrote, capturing a broader point: public filings can reveal size and timing while still keeping beneficial ownership largely opaque.

A response by COO and CIO of DeFi Development Corporation (NASDAQ: DFDV) Parker White claimed Laurore Ltd. “appears to be a wholly-owned subsidiary of Hao Advisors Management,” citing a shared address and what he described as overlapping signatory names.

Parker added that the address sits in “one of the most prestigious office complexes in HK,” a building he said is “widely know[n] for the largest hedge funds,” and argued the setup “seems to be very well structured and very professional.”

Park pushed back on equating name similarity with shared control, but agreed that a shared office address may not be a smoking gun. After another commenter suggested the possibility of a “fund hq” or registered address arrangement where “none of the people actually work there,” Park responded: “Bingo.”

However, none of this is confirmed. It’s informed speculation, and the underlying ownership remains opaque for now.

At press time, BTC traded at $67,713.

Bitcoin must reclaim the 200-week EMA, 1-week chart | Source: BTCUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com

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MYX wrapped up funding. The blockchain company landed a strategic round led by Consensys on February 18, 2026, just before their V2 platform goes live.

Nobody’s talking numbers yet. MYX won’t say how much cash they raised, which is pretty typical in this cutthroat blockchain world. The company wants to use the money for product development and scaling up operations. Consensys took the lead role in this funding push, bringing serious blockchain expertise and industry connections to MYX right when they need it most. The timing couldn’t be better – MYX is about to drop their V2 platform and they’ll need every advantage they can get.

Not much detail on launch dates.

MYX’s CEO Alex Chen seemed pumped about the partnership. “This funding allows us to fast-track our V2 platform launch, which is set to redefine user engagement in the blockchain space,” Chen said on February 18. But Chen didn’t give specifics on what “fast-track” actually means or when users can expect to see V2 go live. The company’s keeping their cards close to their chest on the exact rollout timeline.

And there’s more history here than meets the eye. MYX already caught attention from big-name VCs like Blockchain Capital and Pantera Capital in earlier rounds. These firms don’t throw money around lightly – they’ve shown consistent faith in MYX’s ability to shake up traditional markets. That track record probably helped convince Consensys to jump in now.

Joseph Lubin weighs in too. Consensys’ founder said he’s optimistic about working with MYX, noting that their upcoming V2 platform fits with Consensys’ goals of pushing blockchain adoption forward. Lubin’s backing carries weight in this space – when he gets behind a project, people pay attention.

The V2 platform should bring new decentralized apps and better smart contract features. At least that’s what MYX has hinted at, though they haven’t confirmed specifics yet. Industry watchers think these upgrades could help MYX grab a bigger slice of the DeFi market, but that’s still speculation until we see what V2 actually delivers.

MYX isn’t saying much about potential partnerships either. The company’s staying quiet on which industry players might team up with them for future projects. That silence leaves room for lots of guessing about what deals might be cooking behind the scenes. Related coverage: XRP Surges Then Drops as Musk.

Reached for additional comment, MYX didn’t respond. The company hasn’t dropped any more updates about their next moves after closing the funding round. Industry analysts are left to guess how MYX plans to spend their fresh capital and what their strategy looks like going forward.

But insiders close to the deal think the investment could be substantial. One source familiar with the funding said the money’s meant to support not just the V2 launch but future tech developments too. Consensys’ involvement should give MYX strategic guidance as they navigate these next steps, though nobody’s spelling out exactly what that guidance looks like.

The blockchain community’s watching closely. MYX is entering a crowded market where competition gets fiercer every day. They’ll need to prove their V2 platform can stand out from the pack and actually deliver on the promises they’re making. The fresh funding gives them resources, but execution is what matters now.

February 2026 marks a big moment for MYX as they gear up to unveil new features with V2. The company’s focused on making sure the platform can handle anticipated demand and deliver greater scalability. They’re also exploring collaborations that might emerge after launch, though details remain murky.

Despite all the positive momentum, MYX hasn’t said how they’ll allocate the funding specifically. The lack of transparency on financial planning has analysts speculating about MYX’s potential moves in the blockchain ecosystem. Some think the company might use the cash to expand their user base or enter new markets, but that’s just educated guessing at this point. This follows earlier reporting on Trump Crypto Bill Advances, Divides Regulatory.

The strategic round puts MYX in better position to compete with established blockchain players. Consensys brings more than just money – they bring credibility and industry know-how that could prove crucial as MYX tries to scale up. The partnership signals confidence in MYX’s vision, even if the details of that vision remain pretty vague.

What’s clear is that MYX faces pressure to deliver. The blockchain space doesn’t forgive companies that overpromise and underdeliver. With Consensys’ reputation now tied to MYX’s success, expectations are higher than ever. The V2 launch will be the real test of whether all this funding and hype translates into something users actually want.

The community’s eagerly waiting for more information as the V2 launch date approaches. MYX’s silence on key details like regulatory challenges and market strategies suggests they’re focusing internally on getting the platform ready. Whether that approach pays off depends on what they actually ship when V2 goes live.

Consensys has backed several major blockchain projects this year, including a $15 million investment in Layer 2 scaling solutions and partnerships with three DeFi protocols. The firm’s strategic focus on infrastructure plays aligns perfectly with MYX’s platform ambitions.

MYX faces direct competition from established players like Uniswap and SushiSwap, who collectively process over $2 billion in daily trading volume. The V2 platform will need to capture significant market share to justify investor confidence in such a saturated landscape.

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Bitcoin whales are seizing opportunities to acquire more of the top crypto as price fluctuations are extended. According to a data update from CryptoQuant Analyst Darkfrost, the overall whale holdings have increased slightly from mid-December 2025.

Bitcoin whales defying price drawdownAccording to the analyst, whale BTC accumulations have grown by 3.4% in just over two months. As he noted, while the inflows are worth noting, they typically reflect short-term behavior and can generate immediate selling pressure.

The return to buying Bitcoin was drastic, coming from a sharp drop of 7% prior to the resumption of accumulation in December. From that time to date, the Bitcoin in whale wallets has topped 3.1 million, up from 2.9 million BTC.

📈 Whale accumulation surges by 200 000 BTC despite ongoing selling pressure !

Although whale inflows to exchanges have increased recently, their overall holdings have continued to grow.

Inflows typically reflect short term behavior and can generate immediate selling pressure.… pic.twitter.com/MzFl9gia4a

— Darkfost (@Darkfost_Coc) February 18, 2026 This uptick comes with some merit as a gradual recovery is known to accompany such changes. The analyst noted that the last time such Bitcoin whale accumulation was recorded on-chain was in April 2025, when the market recorded a wild correction.

At the time, the buying pressure helped push the price from a low of $76,000 to its all-time high (ATH) above $126,000. 

As a fair analysis, Darkfrost noted that with the BTC price down 46% from its ATH, these current levels represent a fair accumulation zone. This, according to him, accounts for why whales are buying the coin aggressively.

Has Bitcoin price bottomed out?At the time of writing, the price of Bitcoin was changing hands for $67,469.58, down by 0.44% in the past 24 hours. 

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While BTC has entered a consolidation zone, trading from a low of $66,615.28 to $68,434.43, the conversations around a bottom remain divided.

According to Darkfrost, selling pressure remains a significant trend on the market. He believes that despite current demand, the sell-offs cannot be fully offset in the short term. 

Firms like Michael Saylor’s Strategy Inc have continued to support Bitcoin. Even with the acknowledgement of a crypto winter, Saylor predicts imminent victory for the BTC price.