The issue of global trade war, published by US President Donald Trump’s import tariff in the encryption market this week, caused more than $ 10 billion within 24 hours on February 3.
In spite of the disadvantage volatility caused by macroeconomic problems, investment continues to flow into the encryption industry. In particular, 0G Foundation has launched a $ 888 million ecosystem fund to accelerate the project to create an AI drive distributed financing (Defi) application.
Liquidation of the encryption market would have reached $ 10 billion -bybit CEO
According to BYBIT’s CEO, the recent cryptographic market correction may have cleared up to $ 10 billion in capital, and according to BYBIT’s CEO, the previous estimates are summarized.
According to the CoingLass data, more than $ 22.4 billion was liquidated in the encryption market for 24 hours on February 3.
Encryption liquidation heat map. Source: COINGLASS
But BYBIT co -founder and CEO Ben Zhou said that the actual value could be five times larger.
ZHOU said on February 3, “It was $ 2.1 billion, just 24 hours of liquidation of BYBIT.
“I’m afraid that today’s actual liquidation will be more than $ 2 billion. According to my estimates, it should be at least $ 8 billion.”
Liquidation estimation. Source: Ben Zhou
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The 0G Foundation starts a $ 88 million fund for AI -based Defi agents.
The 0G Foundation, an organization that supervises the development of the 0G distributed AI operating system, is a $ 888 million to accelerate the AI -based Defi application and autonomous agent, also known as AI -based Defi applications and autonomous agents. I started an ecosystem fund.
The fund has received strategic support from Web3 Investors, including HACK VC, Delphi Ventures, Bankless Ventures and OKX Ventures.
According to Michael Heinrich, co -founder and CEO of 0G Labs, the launch of this fund appears in “Central Moment” for the collecting blockchain and AI applications.
Heinrich told Cointelegraph, “The rapid growth of AI functions, with the need for untrusted and transparent systems in finance, is ideal for accelerating the development of autonomous agents.
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Solana App increased 213% in Messari in the fourth quarter.
According to a report from Crypto research firm Messari, the application of Solana Network increased 213% in the fourth quarter of 2024.
Messari said cumulative app income increased from $ 260 million to $ 880 million in the fourth quarter, Messari said. According to the report, they peaked at $ 337 million in November.
Profit came from the increase in Memecoin transaction, the driving force of Solana’s Distributed Finance (Defi) ecosystem.
Memecoin Launchpad Pump.fun recorded $ 225 million in 4Q sales, with a 242%increase of 242%, Messari said.
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Thorchain approves plans to reconstruct $ 200 million debt
The node operator of the decentralized liquidity protocol has approved the proposal to solve the liquidity problem by converting the platform’s debt -free debt into capital.
On January 23, Thorchain stopped the loan and saber program of Bitcoin (BTC) and Ether (ETH) to prevent bankruptcy crisis and to reconstruct the debt of protocols. The platform has paused the repayment of Thorfi for 90 days so that the community can develop its plan to stabilize its operation.
After the temporary suspension, the Thorchain community compensated the affected users and proposed various restructuring plans to ensure the continuous operation of the network.
On February 2, the node operator of the platform approved the proposal to convert the basic debt to a token that represents the platform’s stake.
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Fed ‘S Waller regulates the regulated stablecoins to increase the global dominance of the US dollar.
Christopher Waller, president of the Federal Reserve, said he supports the adoption of Stablecoins with clear rules and regulations because it is likely to strengthen its US dollar status as a preliminary currency of the US dollar.
In an interview with Atlantic Council Think Tank on February 6, Waller, the chairman of the Fed Board, said, “We will expand the range of dollars around the world and make more preliminary currencies. ‘
He said:
In the opinion of Waller, good regulations in Stablecoins are preliminary currencies, strengthening the dollar and strengthening use of international trade, finance and investment.
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Defi Market Overview
According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market cap ended the state in red.
Virtuals Protocol (Virtual) tokens have fallen more than 46% to the top 100 largest losers, and Arweave (AR) tokens have fallen more than 38% over last week.
The total value submerged in Defi. Source: Defillama
Thank you for reading the summary of the most influential Defi development this week. Next Friday, get more stories, insights and education about this dynamic development with us.