

#HWGEX According to ChainCatcher, on-chain options trading volume has reached record highs in the past two weeks, recording $44 million in the first week of February and $28 million in the last week of January. Currently, over 80% of the trading volume is concentrated on the Ithaca and Derive protocols, which processed $26 million and $11 million respectively last week. Overtime, in third place, only recorded $2 million. The reasons for the surge in trading volume are still undetermined. Possible factors include the annualized yield on USDT lending on Aave having dropped to around 2%, reducing its attractiveness; and market expectations for Hyperliquid's upcoming HIP-4 market. Renowned DeFi trader Route2Fi recently posted on the X platform that the 2% annualized yield on USDT on Aave is no longer attractive, sparking widespread discussion in the community and reflecting that some users are actively seeking higher-return alternative investment channels.

#ETH According to ChainCatcher, Bitmine Chairman TomLee stated that Ethereum may experience a new V-shaped rebound after its recent decline, and may currently be nearing its bottom. He pointed out that since 2018, Ethereum has experienced eight periods of decline exceeding 50%, and all eight rebounded at roughly the same pace, achieving a 100% recovery. Despite the price pressure, on-chain data shows that ETH staking demand remains strong. Currently, the validator entry waiting time has risen to a record high of 71 days, with approximately 4 million ETH in the staking queue, representing 30.3% of the circulating supply (approximately 36.7 million ETH).

#BTC According to ChainCatcher, citing Cointelegraph, Glassnode analysts stated that Bitcoin whales increased their positions during the pullback, with the average 30-day outflow rate on exchanges reaching 3.2%, a pattern similar to that before the start of the bull market in the first half of 2022.

#HWGEX According to ChainCatcher, on-chain options trading volume has reached record highs in the past two weeks, recording $44 million in the first week of February and $28 million in the last week of January. Currently, over 80% of the trading volume is concentrated on the Ithaca and Derive protocols, which processed $26 million and $11 million respectively last week. Overtime, in third place, only recorded $2 million. The reasons for the surge in trading volume are still undetermined. Possible factors include the annualized yield on USDT lending on Aave having dropped to around 2%, reducing its attractiveness; and market expectations for Hyperliquid's upcoming HIP-4 market. Renowned DeFi trader Route2Fi recently posted on the X platform that the 2% annualized yield on USDT on Aave is no longer attractive, sparking widespread discussion in the community and reflecting that some users are actively seeking higher-return alternative investment channels.

#ETH According to ChainCatcher, Bitmine Chairman TomLee stated that Ethereum may experience a new V-shaped rebound after its recent decline, and may currently be nearing its bottom. He pointed out that since 2018, Ethereum has experienced eight periods of decline exceeding 50%, and all eight rebounded at roughly the same pace, achieving a 100% recovery. Despite the price pressure, on-chain data shows that ETH staking demand remains strong. Currently, the validator entry waiting time has risen to a record high of 71 days, with approximately 4 million ETH in the staking queue, representing 30.3% of the circulating supply (approximately 36.7 million ETH).

#HWGEX According to ChainCatcher, on-chain options trading volume has reached record highs in the past two weeks, recording $44 million in the first week of February and $28 million in the last week of January. Currently, over 80% of the trading volume is concentrated on the Ithaca and Derive protocols, which processed $26 million and $11 million respectively last week. Overtime, in third place, only recorded $2 million. The reasons for the surge in trading volume are still undetermined. Possible factors include the annualized yield on USDT lending on Aave having dropped to around 2%, reducing its attractiveness; and market expectations for Hyperliquid's upcoming HIP-4 market. Renowned DeFi trader Route2Fi recently posted on the X platform that the 2% annualized yield on USDT on Aave is no longer attractive, sparking widespread discussion in the community and reflecting that some users are actively seeking higher-return alternative investment channels.





