BTC must pass $87K and $93K for an upward trend

Market overview

• BTC continues its downward momentum, hitting a low of $82,222. The key technical support for this round lies between $81,000 and $82,000, which could trigger a short-term rebound.
• However, from a chart perspective, BTC needs to rise above $87,000 and $93,000 to re-enter the upward channel.
• After a continuous decline, altcoins are showing relative resilience, with leading projects such as KAITO, IP, and PI continuing to squeeze shorts.
• The total market capitalization of TOTAL3 remains stable at $800 billion, while BTC's market dominance has slightly decreased to 60.68%.

Key events

• Cross-chain protocol Wormhole has launched the Solana-based intent protocol suite Wormhole Settlement, enabling rapid cross-chain transfers at an institutional scale.
• Movement Foundation has sent $MOVE to bridge multisig in preparation for its public mainnet Beta.
• Digital payment network and protocol Ripple has updated the XRP Ledger roadmap to build more compliance features to promote institutional DeFi development.
• The Avalanche Foundation, the non-profit that helps steward the development of the Avalanche blockchain, has announced that the Avalanche Visa Card goes live, supporting payments with AVAX and stablecoins.
• Stablecoin issuer Circle has introduced Modular Wallets, a programmable wallet that allows developers to select only the components they need.
• Ethereum co-founder Vitalik Buterin has stated that they are considering migrating Ethereum to the Poseidon hash to optimize zk-prover friendliness.
• The DAO launch platform, daos.fun, has announced the launch of Founder DAO on Solana, which will support decentralized fundraising.
• Ethereum L2 network Linea has collaborated with Ethereum L2 universal gateway DapDap and crypto wallet application MetaMask to launch the community-driven card reward program Coinmunity Cashback, offering users 8% cashback on purchases made with the MetaMask Card.

Hot projects

Token		Description	Market Cap ($)
	PAIN Strong rebound	PAIN is the official memecoin of the OG meme legend "Hide the Pain Harold," aimed at expressing pain on the blockchain. Incubated by Memeland, it previously raised 185,900 SOL, of which 80% was refunded. The total token supply is 10 million, with 50% allocated to Harold himself, 20% for presale, 15% for liquidity, 10% for the community, and 5% for partners.	47.49 million
	ALCH Contract positions continue to rise	Alchemist AI is an AI+game (and various applications) platform, allowing users to create various mini-programs in the Sacred Laboratory and fine-tune applications or add unique features through the Wizard Chat Bot. Users can upload completed applications to the Arcane Forge, set prices in ALCH, and other users can purchase the product and tip. The token has dropped 90% from its peak, and recently, Binance contract positions surged from $3 million to $28 million, causing the token price to rise accordingly.	38 million
	CARV Strong rebound	CARV is a modular identity and data layer for gaming and AI, aiming to change the way data is used and shared. To create a future where data generates value for everyone, CARV has built a modular data layer, the CARV Protocol, integrated with over 40 blockchain ecosystems, along with its flagship game and super app, CARV Play. Recently, the DATA Framework was updated to version 2.0 and adopted DeepSeek's cognitive reasoning and CARV ID (ERC-7231 standard). The token has been listed on Upbit.	109 million
	STONKS Trending meme	"Stonks" originated around 2017 and evolved from a surreal meme character called "Meme Man." This meme typically features a 3D-rendered, slightly weird human head paired with the word "STONKS," used humorously to mock situations in finance, economics, or decision-making that are especially ridiculous or nonsensical.	57.48 million
	ZND Recent strong rebound	ZND is a comprehensive financial ecosystem consisting of various platforms, each tailored to different target audiences. The foundation of this ecosystem is Zondacrypto, a cryptocurrency exchange launched in 2014, which has since become one of the largest exchanges in Central and Eastern Europe. Another important platform in the ZND ecosystem is Zondacrypto Pay, a payment processor that allows entrepreneurs, markets, and platforms to accept cryptocurrency payments for goods and services. On February 25, it announced the launch of 10 ZND airdrop campaigns, increasing market attention.	25.29 million

BTC ecosystem overview

• BTC Mainnet & Fractal Bitcoin Gas Fees remain at 4 sat/byte (due to low activity) ⚡.
• Inscription, Rune, and Fractal Bitcoin Leading Token Tracking:

1. ORDI: $12.39 (+5.80%)
2. DOG: $0.0023 (+2.16%)
3. FB: $1.14 (-0.88%)

On-chain DeFi mining yield products:

Project name: Morpho (Blockchain: Ethereum) ←→ Token: USDC

• Participation method 1: Participate via wealth management products provided by OneKey

1. OneKey introduction: Established in 2020, OneKey is an open-source crypto hardware wallet that bundles wealth management products from other projects. It is a Chinese-origin project.
2. Participation details & Yield: Users stake USDC, with an exit cycle of t+1, offering an annualized rate of 31.10% (variable) (the yield is USDC + MORPHO)【33.66% (native yield) - 5.04% (performance fee of 15%)】

• Participation method 2: Participate directly from Morpho’s official earn page

1. Morpho introduction: A lending protocol. Morpho-Compound improves Compound by offering the same user experience, liquidity, and liquidation parameters. Its peer-to-peer matching mechanism increases APY.
2. Participation details & Yield: Users stake USDC, with an exit cycle of t+1, offering an annualized rate of 31.10% (variable, yield is USDC + MORPHO)【33.66% (native yield) + 1.72% (platform reward yield MORPHO) - 5.04% (performance fee of 15%)】

Note: The performance fee for this product is 15%. Explanation of the performance fee: The Morpho Vaults protocol itself has no governance, but each Vault is managed by the corresponding smart contract owner (the owner can also designate administrators, guardians, and allocators to help manage the Vault). The owner can set a performance fee for their corresponding Morpho Vault (used for governance, operations, etc.), and this fee is calculated as a percentage of the interest generated by the Vault. (The maximum performance fee can be set to 50%.)

Current product data:：

Token	Total token deposits	Liquidity	7-day yield
USDC	25.58M	18.00M	18.5%

Exchange updates

• Coinbase has listed Morpho (MORPHO) and added Cookie DAO (COOKIE) to its token listing roadmap.
• Binance Alpha has listed AVL, PAIN, VINU, and JELLYJELLY.

Industry landscape

• Crypto wallet Phantom acquires token data platform SimpleHash.
• According to CoinDesk, US Treasury Secretary Scott Bessent has appointed Galaxy Digital regulatory adviser Tyler Williams as its digital asset and blockchain policy adviser.
• In a recent interview with David Rubenstein at the Economic Club of Washington, D.C., Bank of America CEO Brian Moynihan stated that the bank would enter the stablecoin business if stablecoin legislation is finalized.
• Cryptocurrency gift card platform Raise has completed a $63 million funding round, led by Haun Ventures.
• Singapore crypto payment platform dtcpay has partnered with Singapore-listed department store chain Metro to support stablecoin payments via dtcpay.
• According to a Hong Kong government news release, Hong Kong Financial Secretary Paul Chan announced in the 2025-26 Budget that he would soon issue a second policy statement on the development of virtual assets.

Emerging projects

Token	MAIAR	MOXIE	dream
Description	The AI Agent token on Solana is a modular AI Agent framework that allows developers to extend it with plugins. A hackathon was recently held for this platform.	The AI Agent token on Base serves as an AI trading assistant, providing features including market information and trading analysis.	The memecoin launch platform on Base is built on Zora's WOW protocol. Its unique feature is that it allows users to deploy tokens directly by posting on X.
Price	$0.00576	$0.00372	$0.00368
Market Cap（$）	5.76 million	19.6 million	3.68 million
Token Holders	5,541	229,660	21,270

Token	YOKO	SEND	DERP
Description	The AI Agent Launchpad on the Sonic chain requires the use of $YOKO as a token for consumption when creating and trading AI Agents. Its functionality is similar to the Virtuals Protocol.	Super Exchange is a memecoin issuance platform on the Solana chain, but it uses a different mechanism than Pump Fun, incorporating DeFi mining elements. Send is the leading token on this platform.	The memecoin on Sonic is derived from the namesake NFT series DERP. Many executives in Sonic Labs use DERP as their avatar. Those who previously held DERP NFTs could claim 23 xShadow tokens, which are key to the ecosystem's focus projects.
Price	$0.7209	$0.045	$0.0074
Market Cap（$）	38.50 million	4.5 million	3.10 million
Token Holders	2,940	883	1,280

Disclaimer

The development and market cap of stablecoins mentioned in the above content are speculative and based on market analysis at the time of writing and should not be interpreted as guaranteed outcomes. Market conditions can fluctuate widely and unpredictably due to numerous factors such as regulatory changes, market demand, and global economic developments. 

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