Market Overview (24h)

  • Spot: BTC trades around 118.7k (+0.5% 24h), ETH 3,872 (+1.5%), with majors showing a mild green day. SOL (+2.1%), XRP (+1.7%), BNB (+6.4%), DOGE (+1.4%), SUI (−1.2%), OP (+13.1%), and ADA (+0.3%) lead/lag among large alts with listed perps.1
  • Total crypto market cap is last reported at about 2.33T, +0.31% on the day; note this snapshot is dated 2026‑02‑10, so it may not perfectly match today’s levels but is directionally modestly positive.2
  • Derivatives: Total futures open interest is about 98.7B with 24h volume 138.2B and 24h liquidations ~182.8M, indicating moderate leverage but no capitulation spike. BTC and ETH funding are slightly positive (~0.01%/8h), suggesting a small long bias; BNB and OP show strong OI growth (+35% and +32% respectively), consistent with their strong spot moves.1
  • Stablecoins: No major issuer statements or widely cited dashboards in the last 24–48h indicating abnormal shifts in USDT/USDC supply; the stablecoin narrative remains dominated by earlier regulatory developments rather than fresh flow shocks.3

Top Headlines (What & Why it matters)

  • No clearly market‑moving global headlines (ETFs, large hacks, major protocol changes) from primary sources in the last 24–48h surfaced in the sweep; price action appears driven more by positioning and rotation (notably into BNB/OP) than by discrete news catalysts. — Risk: Medium (leaves market more sensitive to any surprise headlines).21
  • Binance TH confirms new ZAMA/USDC and ZAMA/USDT spot pairs effective 2026‑02‑19 at 11:00, 14:00, and 15:00 UTC+7 (04:00, 07:00, 08:00 UTC), expanding local access to this asset but with limited global impact. — Risk: Low.[^4]4
  • Binance launches “Ramadan Missions 2026” campaign (published 2026‑02‑18, time not specified, likely UTC+8) offering rewards for trading/referral tasks, another example of exchanges using incentives to bolster engagement in a still‑fragile market. — Risk: Low.5

Exchanges

  • Binance TH announcements (Feb 17–18) highlight:
    • New ZAMA spot pairs and associated deposit/listing schedule on Feb 19 (see timings above), focused on Thai users.4[^4]
    • Ongoing local operational updates such as THB banking maintenance earlier in February (outside the strict 72h window but relevant for fiat on/off‑ramp reliability).4 — Risk: Low for global markets; Medium for Thai retail liquidity if banking maintenance recurs.
  • Coinbase’s blog index notes a Feb 12, 2026 post reporting that the exchange doubled total trading volume and crypto market share in 2025, reinforcing the theme of liquidity concentration on a few top venues, though this is older than the 72h window. — Risk: Medium (market‑structure, not immediate).6

Regulation/Law

  • No new major enforcement actions or legislative milestones from SEC/CFTC, ESMA/MiCA, FCA, MAS, SFC/HKMA, FSA Japan, or Taiwan FSC identified in the last 7 days via public roundups and trackers; the regulatory narrative remains dominated by implementation of earlier frameworks (e.g., EU DAC8 tax‑reporting rules for CASPs effective Jan 1, 2026, and stablecoin frameworks in US/EU/Asia). — Risk: Medium (rules constrain business models but no fresh shocks today).7893

Research/White Papers

  • No clearly new, market‑moving crypto research or protocol white papers from major analytics firms, exchanges, or standards bodies identified in the last 14 days; discourse continues to reference earlier work on regulation and datasets (e.g., global regulation reports and Ethereum analytics datasets) rather than fresh releases. — Risk: Low.1097

Security Incidents

  • No confirmed large‑scale new hacks or protocol‑level exploits were identified in the last 24–48h from major analytics or news sources; coverage continues to reference prior events such as Bybit’s record 1.4–1.5B hack in Feb 2025 as a benchmark for systemic risk, but without new developments today. — Risk: Medium (latent trust risk; nothing acute today).111213
  • A Reddit thread on Feb 4 claimed 30M stolen from two unnamed DeFi projects during a volatility spike, but lacks project identifiers and primary confirmations; treat this as unverified chatter, not an actionable incident. — Risk: Medium but highly uncertain (unconfirmed).14

What to Watch (next 24–72h)

  • Perp funding and OI in BNB and OP, where strong price moves (+6–13%) and double‑digit OI growth raise the risk of a squeeze or sharp mean‑reversion if sentiment flips. — Risk: Medium.1
  • Any surprise regulatory statements in key markets (US, EU, Hong Kong, Singapore) as authorities move from framework design (MiCA, DAC8, GENIUS‑style laws, HK stablecoin rules) toward concrete enforcement and licensing decisions. — Risk: Medium–High.8973
  • Exchange‑specific liquidity conditions at regional venues such as Binance TH following recent product and campaign updates, especially for THB rails and new listings. — Risk: Low–Medium.[^4]54
  • Continued monitoring for undisclosed security events, particularly in DeFi, given the historical pattern of exploits clustering around periods of rising leverage and volatility. — Risk: Medium.13111

Confidence: Medium; market data comes from live derivatives dashboards, but timely high‑impact news and regulatory items in the last 48h are sparse in primary public sources. 15161718192021222324252627282930313233343536373839404142[^44]434445464748

⁂
[^4]: https://www.binance.th/en/academy/new-cryptocurrency-listing delisting/1c1d4af6b2cc42eea1764cdc0d124e1c
[^44]: https://www.binance.th/en/faq/new-cryptocurrency-listing delisting/770fff5641b846f9a72c9c95902401da

Generated by

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  2. https://coinmarketcap.com ↩ ↩2

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  4. https://www.binance.th/en/announcement ↩ ↩2 ↩3 ↩4

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  6. https://www.coinbase.com/blog ↩

  7. https://www.elliptic.co/blog/crypto-regulatory-affairs-hong-kong-progresses-cryptoasset-regulatory-activities ↩ ↩2 ↩3

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  10. https://arxiv.org/html/2501.11906v1 ↩

  11. https://www.abc.net.au/news/2025-02-24/bybit-cryptocurrency-hack-what-we-know/104974512 ↩ ↩2

  12. https://fortune.com/crypto/2025/02/21/bybit-largest-hack-crypto-history-1-4-billion-losses/ ↩

  13. https://www.trmlabs.com/resources/blog/the-bybit-hack-following-north-koreas-largest-exploit ↩ ↩2

  14. https://www.reddit.com/r/InterstellarKinetics/comments/1qvyngj/breaking_two_defi_projects_hacked_for_30_million/ ↩

  15. https://www.econstor.eu/bitstream/10419/230815/1/irtg1792dp2020-009.pdf ↩

  16. https://arxiv.org/pdf/2212.01267.pdf ↩

  17. https://www.mdpi.com/1099-4300/27/4/450 ↩

  18. https://pmc.ncbi.nlm.nih.gov/articles/PMC9653299/ ↩

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  20. https://arxiv.org/html/2409.03674 ↩

  21. https://aemps.ewapublishing.org/media/00490e7691634b0988e9960b74c40e7b.marked.pdf ↩

  22. https://www.wsj.com/finance/regulation/sec-hack-adds-to-unease-over-bitcoin-etf-approval-52f8cd26 ↩

  23. https://www.chainup.com/blog/crypto-regulation-penalties-2026-fines-and-enforcement/ ↩

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  31. https://www.semanticscholar.org/paper/a71371b792c17802772970e0cc2f1babe2f19339 ↩

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  33. http://link.springer.com/10.1007/978-3-030-49785-9_7 ↩

  34. https://www.semanticscholar.org/paper/75b8f816ffe056e43bf953e0c92f0d5394486715 ↩

  35. https://arxiv.org/html/2410.02029v2 ↩

  36. https://dl.acm.org/doi/pdf/10.1145/3576915.3616674 ↩

  37. https://arxiv.org/pdf/1605.07524.pdf ↩

  38. https://arxiv.org/pdf/2103.03851.pdf ↩

  39. http://arxiv.org/pdf/2408.03426.pdf ↩

  40. https://arxiv.org/pdf/2502.03718.pdf ↩

  41. https://arxiv.org/pdf/2111.03859.pdf ↩

  42. https://arxiv.org/pdf/2202.04165.pdf ↩

  43. https://www.youtube.com/watch?v=dbF6Y3I4o7Q ↩

  44. https://www.smallworldfs.com/blog/2026/02/13/bitcoin-drops-27-in-a-month-as-coinbase-stock-falls-34-ahead-of-earnings/ ↩

  45. https://support.binance.us/en/collections/10384537-announcements ↩

  46. https://www.coinbase.com/blog/system-update-the-future-of-finance-is-on-coinbase ↩

  47. https://www.cnn.com/2022/12/02/business/binance-withdrawals-hnk-intl ↩

  48. https://www.coinbase.com/blog/the-state-of-crypto-the-future-of-money-is-here ↩