Weekly Review: $KAITO token launched, Crypto's biggest hack and US spot bitcoin ETFs biggest outflow...
NFT Weekly News #85 18th February - 27th February
NFT News Weekly Update #85
(18/02/2025-27/02/2025)
GM
Welcome to NFT Weekly News by Threekeyslab๐๏ธ๐๏ธ๐๏ธ. Subscribe and follow to stay up-to-date with key market digests.
Top News ๐
๐ InfoFi | Kaito AI launches $KAITO token(20 Feb)
The $KAITO token claim began on Base on February 20th. According to its tokenomics, 56.67% of $KAITO is allocated to the Community & Ecosystem. Shortly after its launch, Coinbase and Kraken listed the token.
๐ CEX ๏ฝ Crypto's biggest hacks and heists after $1.5 billion theft from Bybit๏ผ25 Feb๏ผ
Cryptocurrency exchange Bybit said last week hackers from North Korea Lazarus group had stolen digital tokens worth around $1.5 billion, in what researchers called the biggest crypto heist of all time. Bybit CEO Ben Zhou said the crypto was taken from a Safe cold wallet.
๐ ETF | US spot bitcoin ETFs see record outflows worth $1 billion (26 Feb)
U.S. spot bitcoin ETFs saw a total daily net outflow of $1 billion, biggest outflow of the year. In their six-day streak of negative flows, these ETFs saw over $2 billion leave the products.
Market Update ๐ฃ
Last week, the primary NFT PFP projects that saw significant sales included Crypto Punks, Milady and Azuki Elemental. The collection is famous for their charming characters and distinctive designs, which make them very popular in the NFT market.
In the realm of Art NFTs, Gazers, 8, and Chromie Squiggle have made the list. Notably, Gazer #215000710 has reached a selling price of 28.5 ETH.
Source: NFTPriceFloor
Other News ๐
๐ AI Agent | Coinbase Commerce launches AI agents Demo (18 Feb)
Coinbase Commerce (@CommerceCB) can help with booking appointments and paying.
CommerceCB can help get shopping cart AI Agent enabled, while @CoinbaseDev can help give AI Agent a wallet.
๐ Macro | Nasdaq proposes new rule to allow trading and listing of digital asset-based investment interests ๏ผ19 Feb๏ผ
The proposal suggests the stock exchange adds a new rule, called Nasdaq Rule 5712, to permit the listing and trading of digital asset-based investment interests, denoted as securities issued by an entity holding digital assets, as well as commodity-based investment interests derived from cash, derivative securities products or other sources.
The proposal would also shift the listing and trading of the Hashdex Nasdaq Crypto Index US ETF, currently listed under a different rule, to Nasdaq Rule 5712.
๐ L1 | Berachain & Sonic lead weekly inflows (24 Feb)
Top chains by net bridge inflows over the past 7 days are Berachain, Arbitrum and Sonic.
๐ Defi | Pump.fun said to be launching own AMM (25 Feb)
Pump.fun, a Solana-based memecoin launchpad, is testing its own AMM, potentially moving away from Raydium, which has contributed significantly to its revenue.
This shift has caused Raydiumโs token to drop 40% as investors worry about the loss of liquidity. Despite a declined offer from Ellipsis Labs to implement an alternative AMM, pump.funโs move could increase its revenue but also risks alienating users who rely on Raydiumโs liquidity.
๐ NFT | FWOG artist joins Yuga Labs (19 Feb)
FWOG artist @Groowut joined Yuga Labs as Creative Art Lead.
NFT Chain Volume ๐
Over the past week, NFT marketplace volume went down to $73.6M from $166.6M one week ago.
Ethereum claimed the top spot with a 63.8% market share while with $47M chain volume. Solana and Polygon are ranked 2nd and 3rd, with $8.8M and $8.5M chain volume respectively.
The Weekly Top 3 NFT PFP projects by trading volume are Pudgy Penguins, Courtyard.io, and OCH Genesis Hero, with 7-day trading volumes of 2.7K ETH, 19.8M POL, and 2.2K ETH respectively.
Credit to : @NFTpulse
Memecoin Market Cap and Volume ๐
Over the past week, the market cap for memecoins reached $58.25B on February 26th, marking a 13.19% decrease from the previous week.
Meanwhile, daily trading volume came back to $8.14B on February 26th, reflecting a 27.18% increase compared to last week.
Credit to : @CoinMarketCap