Cryptos: 12,944
Exchanges: 221
Dominance: BTC: 38.85% ETH: 16.31%
ETH Gas: 31 Gwei
  • Low: 31 Gwei
  • Average: 31 Gwei
  • High: 31 Gwei
  • Data from Etherscan.
24H Spot Vol.: $80,017,068,751.46
24H Derivatives Vol.: $100,046,882,747.89
Global Open Interest: $42,001,714,931.18
English 中文

TI Weekly Market Review: Bulling to the Moon

TI Research
TI Weekly Market Review: Bulling to the Moon From: Google

Happy Chinese New Year! This year is the year of the Ox (“牛年”, “牛” can be also translated as "Bull", which means The Year of Ox can be also interpreted as "The year of Bull") in the lunar calendar. For investors, the year of the Ox means prosperous business and wealth. Of course, with the arrival of the Bull Year, good news will continue. After the investment of Bitcoin announcement from Tesla, the launch of Ethereum futures by CME, the US economic stimulus plan began to be implemented, and other factors, the digital asset market ushered in a surge around the Lunar New Year, which must have been a good fortune in the new year. This year is destined to be an extraordinary year for the cryptocurrency market.

Breaking $48,000 - We all knew that was not a surprise

The recent trend of Bitcoin is no accident. The collective pull of retail investors in the past few weeks has proved that even the collective actions of individual investors have a relatively limited impact on prices. However, the sharp rise of Bitcoin that broke through $48,000 on February 9 was the result of a combination of factors. On the one hand, Musk’s announcement of the purchase of $1.5 billion in Bitcoin undoubtedly stimulated the enthusiasm of investors. Endorsements from top companies with a high market capitalization in the stock market have provided good support for the rise in the price of Bitcoin; on the other hand, the higher mining income of Ethereum since January (the monthly income of Ethereum miners reached US$800 million, a record high ), allowing miners to concentrate their computing power more on Ethereum, leading to a further increase in the supply and demand gap of Bitcoin. Besides, the economic stimulus plan from the US government began to be implemented gradually this week, and a large number of funds are expected to flow into Bitcoin.

Bitcoin price changes for nearly 7 days, Feb. 12.Source:
Ethereum miners' income hit a record high in January. Source: glassnode

On February 8, Ethereum futures officially launched on the Chicago Board of Trade (CME), with a trading volume reaching $30 million on the first day. Although this trading volume is insignificant for the cryptocurrency market, its symbolic significance is huge: after Bitcoin, Ethereum has also been recognized from the traditional market, and its status as a compliant (alternative) asset has been formally established. Affected by this, the trading volume of Ethereum contracts has remained high recently, with total trading volume this week reaching 170.4 billion US dollars, up 12.85% from last week.

Ethereum's perpetual contract trading volume. Source:
This week's mainstream digital asset spot and futures trading volume changes, February 12.Source:

Exchange Tokens Soar: the Rise of "Broker Stocks" in Crypto Market?

On the eve of the Spring Festival, major exchange tokens' prices were one of the best gifts given to users who held those tokens. The price of BNB rose from around $40 at the beginning of the year to over $150 (At peak) this week. The current market cap of BNB has reached 19.37 billion US dollars, ranking seventh in the cryptocurrencies market.

Recent price and volume movements at BNB. Source:

Other mainstream exchange tokens have also experienced similar fluctuations. The recent year-end positive signals released by major exchanges at the end of the Lunar New Year are possible reasons for this situation. Similar to brokerage stocks, the performance of the exchange will be the first to affect the performance of the exchange tokens. Affected by the bull market that started in the fourth quarter of last year, the performance of top exchanges in terms of revenue and operations has so far been relatively better, which inspired the general outstanding performance of their tokens.

Huobi and OKEx exchange tokens movements. Source:

With the continuous development of the cryptocurrency market, exchange tokens similar to "blue chip stocks" and "brokerage stocks" in traditional markets are constantly being discovered. Whether it is exchange tokens such as BNB and HT, or "blue chip tokens" such as DOT and GRT, they are all emerging value targets worthy of investors' attention and investment in the Year of the Bull. The market investment is more than just Ethereum and Bitcoin.

What's New with TokenInsight

Realtime trades of spot market, BTC and ETH options, and other more data dashboard launched! Free for everyone!

  • Rea-time Prices;
  • Real-time BBO;
  • Real-time trades;
  • Money inflow and outflow;
  • Options: Orderbook skew, open interest, and others.
  • Other new features.

Go to to check freely.

TI Research

TokenInsight is a data and research organization for the digital asset market. TI provides comprehensive asset-related data and comprehensive and timely information and research services for digital assets.

The news, articles, reports or other information we provide are based on public sources considered to be reliable, but TokenInsight does not guarantee the accuracy or completeness of any information contained herein. The news/articles/reports or other information had been prepared for informative purposes only and does not constitute an offer or a recommendation to purchase, hold, or sell any digital assets (cryptocurrencies, coins, and tokens) or to engage in any investment activities. Any opinions or expressions herein reflect a judgment made as of the date of publication, and TokenInsight reserves the right to withdraw or amend its acknowledgment at any time in its sole discretion. TokenInsight will periodically or irregularly track the subjects of news/articles/reports or other information we provide to determine whether to adjust the acknowledgement and will publish them in a timely manner.

We adhere to high standards and values of reporting news, and we do our best to be objective and unbiased at all times.

TokenInsight takes its due diligence to ensure news/articles/reports or other information we provide a true and fair view without potential influences of any third party. There is no association between TokenInsight and the subject referred in the contents which would harm the objectivity, independence, and impartiality of the reporting.

Trading and investing in digital assets (cryptocurrencies, coins, and tokens) may involve significant risks including price volatility and illiquidity. Investors should be fully aware of the potential risks and are not to construe the content of the report as the only information for investment activities. None of the products or TokenInsight Inc, nor any of its authors or employees shall be liable to any party for its direct or indirect losses alleged to have been suffered on account thereof.

All rights reserved to TokenInsight.