Gate Research Daily Report: On February 25, the price of Bitcoin dropped by 3.57% to $92,258.1, while Ethereum’s price fell by 8.31% to $2,492.07. Berachain’s Total Value Locked (TVL) surpassed $3.3 billion, overtaking Arbitrum and Base to become the sixth largest blockchain by TVL. The TVL of the Rings protocol exceeded $84 million, setting a new all-time high. South Dakota vetoed the Bitcoin treasury reserve bill. Ethereum’s Pectra upgrade encountered issues on the Holesky testnet, failing to complete finality and impacting the mainnet deployment. The Dubai Financial Services Authority (DFSA) officially approved the USDC and EURC stablecoins, incorporating them into the cryptocurrency token regulatory framework.

Market Analysis: Bitcoin’s price dropped by 3.57% to $92,258.1, while Ethereum’s price fell by 8.31% to $2,492.07.
Top Performers: The best-performing altcoins in the last 24 hours are VANA, ELA, and KAITO, which rose by 20.76%, 19.42%, and 5.29%, respectively.
Data Highlights: Berachain’s TVL (Total Value Locked) surpassed $3.3 billion, overtaking Arbitrum and Base to become the 6th largest blockchain by TVL.
Spotlight Analysis: The Ethereum Pectra upgrade encountered issues on the Holesky testnet, failing to achieve finality, which may impact the mainnet deployment.
Market Opportunities: Ethena is building derivatives infrastructure that will enable Ethereum to transform into global internet bonds via delta-neutral positions on stETH. The project has completed $100 million in strategic funding.

Explore today’s details → Gate Research: BTC and ETH Drop Triggers Widespread Altcoin Decline; Dubai Approves USDC and EURC, Boosting Stablecoin Adoption

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Gate.io Team
February 25, 2025