The concerns of the World Trade War ignited by the import prices of US President Donald Trump shaken the cryptographic markets this week, amounting to more than $ 10 billion in liquidations within 24 hours on February 3.
Despite the downward volatility triggered by macroeconomic concerns, investments have continued in the cryptography industry. In particular, the 0G Foundation launched an ecosystem fund of $ 88.88 million to accelerate projects creating decentralized financing applications (DEFI) supplied by AI.
Crypto -market liquidations have probably reached $ 10 billion – CEO of bybt
The recent correction of the cryptography market may have liquidated up to $ 10 billion in capital, eclipizing previous estimates, according to the CEO of Bybit.
More than $ 2.24 billion was liquidated from the cryptographic markets in 24 hours on February 3, depending on Coinglass Data.
However, the co-founder and CEO of Bybit, Ben Zhou, said that the real figure could be five times greater.
“The liquidation of Bybit 24hr alone was 2.1 billion dollars,” wrote Zhou in a post of February 3.
“I fear that the actual total liquidation today is much more than $ 2 billion, in my opinion, it should be at least $ 8 billion to 10 billion,” he said.
The 0G Foundation is launching an $ 88 million fund for deficit agents supplied by AI
The 0G Foundation, the organization supervising the development of the decentralized 0G AI operating system, launched an ecosystem fund of $ 88.88 million to accelerate projects creating DEFI applications fueled by AI and Autonomous Agents , also called Defai agents.
The fund has received strategic support from web investment companies, including Hack VC, Delphi Ventures, Bankless Ventures and OKX Ventures.
The launch of the fund reaches a “pivotal moment” for the convergence of the blockchain and AI applications, according to Michael Heinrich, co-founder and CEO of 0G Labs.
“The rapid growth in AI capabilities, associated with the need for transparent systems without confidence in finance, in fact the ideal time to accelerate the development of autonomous agents,” Heinrich at Cointelegraph told.
The income for the Solana application increased by 213% in the fourth quarter: Messari
Applications for applications on the Solana network increased 213% in the fourth quarter of 2024, mainly due to the same speculation, according to a report by the Crypto Messari research company.
Cumulative application revenues increased from $ 268 million in the third quarter of 2024 to $ 840 million in the fourth quarter, Messari said. They culminated in November at 367 million dollars, according to the report.
The gains came from the increase in the same trade, which was the driving force of the decentralized financial ecosystem of Solana (DEFI) in 2024.
Samecoin Launchpad Pump.fun recorded $ 235 million in fourth quarter income for an increase in a quarter to around 242%, Messari said.
Thorchain approves the restructuring plan of $ 200 million
Decentralized liquidity protocol The Thorchain node operators approved a proposal to resolve its liquidity problems by converting the debt of the equity platform.
On January 23, Thorchain suspended his loan and savings programs for Bitcoin (BTC) and Ether (ETH) to prevent an insolvency crisis and restructure the debt of the protocol. The platform interrupted Thorfi’s buyouts for 90 days to allow the community to develop a plan to stabilize its operations.
After the break, the Thorchain community proposed different restructuring plans to guarantee the continuous operation of the network while compensating for affected users.
On February 2, the platform’s nodes operators approved a proposal involving the conversion of its default debt in a tokens representing equity in the platform.
The Fed Backs Waller has regulated stablescoins to increase the world domination of the US dollar
The governor of the Federal Reserve Bank, Christopher Waller, said that he was supporting the adoption of stablescoins with clear rules and regulations, as he will probably cement the status of the US dollar as a reserve currency.
Waller, Chairman of the Fed Board of Directors’ Sub-Committee, said in an interview on February 6 with the Atlantic Council’s thinking group that Stablecoins “will widen the scope of the dollar around the world And will make it even more a reserve currency than now. “”
He said: “What I see with the Stablecoins is that they will open up possibilities and other ways to pay on track.”
In the opinion of Waller, a good regulation of stablecoins only strengthens the dollar as reserve currency and its use in international trade, finance and investments.
Presentation of the DEFI market
According to Cointelegraph Markets Pro and TradingView data, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red.
The Virtuals Protocol (Virtual) token fell by more than 46% as the biggest loser in the Top 100, followed by the Arweave (AR) token, down more than 38% in last week.
Thank you for reading our summary of the most impactful DEFI developments this week. Join us next Friday for more stories, information and education concerning this dynamically advanced space.
