trading

Messari released the BNB Chain Q4 2025 report, stating that the year-end market capitalization of BNB reached $118.9 billion, a year-on-year increase of 17.8%, making it the third largest cryptocurrency asset; the average daily trading volume in Q4 increased by 30.4% to 17.3 million transactions, and the number of active addresses rose to 2.6 million.RWA has become the main growth engine, with an on-chain scale of $2 billion, a quarter-on-quarter increase of 228% and a year-on-year increase of 555%, second only to Ethereum; the market capitalization of stablecoins increased by 9.2% to $15.2 billion, and the DeFi TVL was $6.6 billion, with PancakeSwap accounting for 33.5%.

According to Cointelegraph, despite previous rumors about Arkham planning to shut down its trading platform Arkham Exchange, Arkham CEO Miguel Morel stated that the cryptocurrency trading platform launched by Arkham Intelligence is not shutting down and is transitioning from a centralized model to a fully decentralized trading platform (DEX).He stated, "The future of crypto trading is decentralized, and that is the direction we are working towards." Arkham Exchange launched in 2024, supporting users for spot crypto trading and perpetual contract trading. The platform released its mobile application by the end of 2025.According to CoinGecko data, as of the time of writing, Arkham's average daily trading volume is approximately $640,000.

According to official news, Bybit will launch Aztec (AZTEC) in the spot area.It is reported that Aztec is a leading privacy-first Layer 2 on Ethereum, dedicated to empowering developers to build applications that can protect user privacy.

Binance will launch the Collect on Fanable (COLLECT) trading competition on February 11, 2026, at 21:00. The event is divided into two phases: the first phase runs until February 18, 2026, at 21:00, and the second phase until February 25, 2026, at 21:00. Participants will be ranked based on trading volume, and the top 2,000 users will share 1,400,000 COLLECT tokens. Rewards will be distributed before March 11, 2026, at 21:00.

According to CoinDesk, on-chain data analytics platform Arkham Intelligence plans to shut down its cryptocurrency trading platform Arkham Exchange. Sources revealed that the trading platform failed to attract sufficient trading volume.Arkham Intelligence first proposed the establishment of a cryptocurrency derivatives exchange in October 2024, aiming to compete with giants like Binance for the retail investor market. By early 2025, Arkham Exchange had offered spot cryptocurrency trading services in several U.S. states and launched a mobile trading application in December.However, according to CoinGecko data, Arkham's trading volume over the past 24 hours was only about $620,000, far below Binance's nearly $9 billion and Coinbase's $2 billion daily trading volume.Arkham Intelligence was founded in 2020 and currently has over 3 million registered users. The company's investors include OpenAI CEO Sam Altman, Draper Associates, Binance Labs, and Bedrock.

According to Jinjian News, the Hong Kong Securities and Futures Commission issued new guidelines today, allowing licensed brokers providing virtual asset trading services to expand their service scope to margin financing, and providing guidance for virtual asset trading platforms to assist in formulating leveraged product proposals. This move will encourage margin clients with robust credit conditions and collateral to participate more actively in virtual asset trading, enhancing liquidity in the Hong Kong market.

Gold (XAUT) is showing a gradually stabilizing trend in intraday movements. XAUT reached a high of $5,053.9 and a low of $4,979.2 within 24 hours. As of the time of writing, the XAUT price is fluctuating around $5,025, with a slight increase of 0.03% over the past 24 hours, showing relatively stable overall performance.According to CoinGlass data, the total trading volume of XAUT contracts across the network reached $724 million in 24 hours, with the contract open interest rising to $510 million, a slight increase of 1.90% compared to the previous period. Among them, the trading activity on the Gate platform is particularly prominent, with XAUT contract trading volume exceeding $41.15 million in 24 hours, ranking among the top three in the network.Currently, Gate has launched a metal contract section, providing 24/7 trading and USDT settlement mechanisms, continuously offering users an efficient and flexible one-stop metal trading experience, aiding in cross-market asset allocation and strategy layout. In addition, Gate TradFi has opened trading access on both APP and Web platforms, fully covering CFD trading services for gold, silver, foreign exchange, indices, commodities, and some popular stocks, with a maximum leverage of 500 times.

The on-chain options market has seen a historic surge in trading volume over 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 in the two major protocols, Ithaca and Derive, which processed $26 million and $11 million in transaction volume last week, respectively, while the third place, Overtime, only recorded $2 million.There is no consensus in the market regarding the reasons for the surge in trading volume. Possible factors include the annualized yield on USDT lending on Aave dropping to about 2%, reducing its attractiveness; and market expectations for the upcoming launch of the HIP-4 market on Hyperliquid. Notable DeFi trader Route 2 Fi recently posted on the X platform, stating that the 2% annualized yield on USDT on Aave has lost its appeal, sparking widespread discussion in the community and reflecting that some users are actively seeking alternative investment channels for higher returns.

The Binance Futures platform will launch pre-trading for the AZTECUSDT perpetual contract on February 11, 2026, at 12:30, with a maximum leverage of up to 5 times.

According to Nikkei News, Japan's Nomura Holdings and Daiwa Securities Group are collaborating with Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group to jointly promote a pilot project for securities trading based on stablecoins, aiming to achieve 24-hour real-time settlement on the blockchain.The project plans to convert assets such as stocks, government bonds, corporate bonds, investment trusts, and ETFs into digital securities. After investors place orders through brokers, transactions will be settled in real-time using yen stablecoins jointly issued by the three major banks, with asset rights simultaneously transferred to the buyer. The experiment is expected to start as early as this month after notifying financial regulatory authorities, and may attract more financial institutions in the future.The project aims to support round-the-clock trading through the tamper-proof characteristics of blockchain, extending trading hours and shortening settlement cycles to invigorate the markets for stocks, bonds, and investment trusts. However, implementation still faces compliance and practical challenges related to broker order verification and other operational processes, and the pilot will focus on identifying and addressing related obstacles.

According to The Block, the permissionless perpetual contract market HIP-3 of the decentralized derivatives protocol Hyperliquid has set a record of $5.2 billion in daily trading volume, the highest level since its launch in October 2025.This trading volume is primarily contributed by the mainstream market provider TradeXYZ deployed on HIP-3, which accounts for nearly 90% of the trading share through precious metals, stock indices, and individual stock perpetual contracts. TradeXYZ's silver contracts reached a daily trading volume of $40.9 billion, accounting for about 68% of the total trading volume on HIP-3 that day, indicating that the price fluctuations of precious metals are attracting traders to seek alternative assets outside of cryptocurrencies. The surge in HIP-3 trading volume began in the last week of January when gold first broke the $5,000 per ounce mark and silver surpassed $100. However, both metals subsequently experienced historic pullbacks of about 20% and 30% in a single day. Before the price pullback, HIP-3's open interest also set a record of $1.06 billion, with 87% coming from TradeXYZ; the current open interest is approximately $665 million, reflecting an 88% month-over-month increase.

JPMorgan has lowered Coinbase's target price from $399 to $290, citing factors such as a decline in cryptocurrency market trading volume, weakening asset prices, and a slowdown in USDC growth. However, the firm maintains an "Overweight" rating on Coinbase.Analysts expect Coinbase's adjusted EBITDA for the quarter to drop to approximately $734 million, a significant decline from the previous quarter, primarily impacted by reduced spot trading volume and weakened stablecoin-related revenue. JPMorgan anticipates spot trading volume for the quarter to be around $263 billion, with stablecoin-related revenue of about $312 million. Although the acquisition of the derivatives exchange Deribit by Coinbase brings additional revenue contributions, the overall market downturn continues to exert pressure on performance.In addition to JPMorgan, institutions such as Barclays and Compass Point also hold a more cautious stance, believing that retail trading, blockchain rewards, and subscription and service revenue may fall short of expectations, and continue to be highly dependent on the overall trend of the cryptocurrency market.

According to Jinshi reports, the scale of capital flow in the U.S. stock market has reached a new high, with the average daily stock trading volume in January exceeding $1 trillion, reaching a record $1.03 trillion, an increase of about 50% compared to the same period in 2025. The daily number of shares traded is approximately 19 billion, the second highest in history. The trading activity of retail investors and institutional funds has risen simultaneously, but against the backdrop of concerns over high valuations, the continuous influx of capital also exposes participants to higher risks.

According to Jinshi, the U.S. Treasury Department's Office of Foreign Assets Control has imposed sanctions on the gold trading company Jood SARL (headquartered in Lebanon).

According to the "2026 Skynet Prediction Market Report" released by CertiK, the trading volume of prediction markets is expected to grow to $63.5 billion in 2025, achieving a fourfold increase, with Kalshi, Polymarket, and Opinion becoming the dominant platforms. However, this growth in scale also brings new risks, including oracle vulnerabilities, administrator key abuse, and Web2.5 architecture issues.The report notes that prediction markets have been deemed legal financial products in the U.S. through CFTC rulings, but are banned in several EU countries as unauthorized gambling. Additionally, regulatory differences among U.S. states may further complicate compliance. In December 2025, a security incident involving Polymarket's third-party certification provider exposed centralized failure points in the hybrid Web2/Web3 architecture.The research also estimates that during the peak of airdrops, manual trading volume on some platforms reached 60%, severely distorting liquidity metrics. CertiK predicts that in 2026, prediction markets will see enhanced technical privacy and accelerated institutional adoption, but platforms must simultaneously address issues such as liquidity maintenance, security infrastructure development, and the sustainability of revenue models to achieve long-term growth.

Circle Ventures announced a strategic investment in the decentralized trading platform edgeX, with specific amounts and valuation details not disclosed. Circle also plans to introduce its stablecoin USDC and cross-chain transfer protocol (CCTP) to edgeX's blockchain, EDGE Chain.It is reported that the two companies began discussions at the end of 2025 and ultimately completed the investment transaction last month, with Circle Ventures being the sole investor in this round of financing.

The panoramic exchange Bitget released its January transparency report. The report shows that the TradFi business achieved rapid growth in its early launch phase, becoming an important engine driving the implementation of the panoramic exchange UEX (Universal Exchange) model. Within weeks of launching Bitget TradFi, the daily trading volume exceeded $4 billion and doubled within two weeks.The report also pointed out that crypto assets remain the core source of liquidity for Bitget, accounting for 88.25% of the platform's total trading volume in January; non-crypto products accounted for 11.75%, with TradFi products contributing 11.42%, indicating that the new asset class is gradually integrating into the overall trading structure.

At the "Build and Scale in 2026" themed forum recently held by ChainCatcher in Hong Kong, Hunter, co-founder of the Web3 asset data platform RootData, delivered a speech on "Rebuilding Trust in the Crypto Market," proposing a new assessment system for crypto exchanges centered around "transparency."Hunter pointed out that the crypto industry currently faces the core pain point of severe "black box operations" and distorted traditional trading volume rankings. To address this issue, RootData has innovatively proposed six assessment dimensions for the transparency of crypto exchanges, covering: asset reserve transparency, compliance and auditing, token economics and unlocking, information disclosure mechanisms, listing standardization, and team and institutional endorsement.Hunter emphasized that this assessment system has abandoned the "volume-only theory," transforming "trust" into quantifiable and comparable dynamic data. This system was first unveiled last December at the Binance Blockchain Week in Dubai and is currently open for applications from exchanges worldwide.

According to data from CoinGecko, the $BIRB spot trading on the Bybit exchange has performed strongly, with a 24-hour trading volume reaching $144 million, accounting for 47.66% of the global market share, making it the primary trading center for this token across the market.As another high-performing asset under Bybit's 2026 Full House Listing (Byreal+Alpha+Spot) strategy, the surge in $BIRB's trading volume once again confirms Bybit's leading advantage in the selection of quality assets and its deep layout in the Solana ecosystem.