performance

According to The New York Times, Meta CEO Mark Zuckerberg stated last July that the company's new artificial intelligence model would be launched in about a year. However, according to three insiders, Zuckerberg seems to be increasingly struggling to meet that deadline.Sources indicate that Meta's new generation "frontier" artificial intelligence model, developed over several months, has not performed at the level of leading AI models from competitors like Google, OpenAI, and Anthropic in internal tests focused on reasoning, programming, and writing abilities.Two insiders revealed that the model, codenamed "Avocado," performs better than Meta's previous AI models, but its performance falls short of the "Gemini 3.0" model launched last November. As a result, Meta has postponed the release of the "Avocado" product from this month to at least May.

According to Gate's market data, U.S. stocks closed on Wednesday with the Dow initially down 0.6%, the S&P 500 down 0.08%, and the Nasdaq up 0.08%. Occidental Petroleum rose 4%, ConocoPhillips and Chevron rose over 2%, and Oracle rose 9%. The Nasdaq Golden Dragon China Index closed down 0.77%, Li Auto rose 3%, while iQIYI and Bilibili fell 4%.

Tastylive's global macro director Ilya Spivak stated that the next catalyst for the market is likely to come from the inflation data itself. Economists expect the overall CPI year-on-year for the U.S. in February to record 2.4%, while the core CPI year-on-year is expected to record 2.5%. However, beneath the surface of the data, a key risk is subtly visible.One important driver of the January CPI data was the decline in the contribution of energy prices to overall inflation. Given that oil prices have already started to rise in early 2026, it seems extremely difficult to replicate this situation. Regardless of what this means for the energy component in the February CPI data, traders will be keenly watching whether core price growth (especially in the services sector) continues to decline slightly.This could spark hopes for the normalization of inflation after the cessation of hostilities in the Middle East, thereby helping to soothe the market's anxious sentiment. If not, fragile financial markets may see a resurgence of "safe-haven" volatility, as investors will once again face the possibility of interest rates remaining elevated for a longer period. This would signal a troubling situation for stocks, bonds, and currencies other than the dollar.

According to Gate's market data, U.S. stocks closed higher on Monday, with the Dow Jones Industrial Average up 0.5%, the S&P 500 index up 0.8%, and the Nasdaq up 1.38%. ASML (ASML.O), AMD (AMD.O), and Intel (INTC.O) all rose more than 5%. The Nasdaq Golden Dragon China Index closed up 1.7%, with Bilibili (BILI.O) up 6% and Li Auto (LI.O) up 3.9%.

According to Cointelegraph, macroeconomist Lyn Alden stated in the New Era Finance podcast that Bitcoin's price performance may surpass gold in the next two to three years. Alden believes that the current sentiment in the gold market is somewhat overly optimistic, while Bitcoin is unfairly viewed negatively.She pointed out that there is usually a swinging relationship between the two assets, and considering gold's recent strong rise, Bitcoin may eliminate the diminishing returns in the next cycle. The current gold fear and greed index shows a score of 72 (greed), while the cryptocurrency fear and greed index is only at 18 (extreme fear). Bitcoin is currently trading at around $71,164, down 44% from its historical high of $126,000 set in October. Alden also stated that gold and Bitcoin can rise or fall simultaneously, and she holds a cautious view on the absoluteness of their relationship.

According to market news, based on SoSoValue data, the overall market has slightly declined. Bitcoin (BTC) fell by 1.99%, dropping below $72,000; Ethereum (ETH) fell by 1.18%, dropping below $2,100.The AI sector performed outstandingly, rising by 1.97%, with Siren (SIREN) up 32.75% and Kite (KITE) up 25.06%. In other sectors, the Layer2 sector rose 0.49% in 24 hours, with zkSync (ZK) up 4.65%; the GameFi sector rose 0.42%, with Four (FORM) up 5.58%; the CeFi sector rose 0.41%, with OKB (OKB) up 26.9%; the DeFi sector rose 0.01%, with Lombard (BARD) up 55%; the Layer1 sector fell by 0.4%, with Kite (KITE) up 25.06%; the PayFi sector fell by 0.4%, with Monero (XMR) up 1.23%; the Meme sector fell by 1.05%, with Siren (SIREN) up 32.75%.The cryptocurrency sector indices reflecting historical market trends show that the ssiRWA, ssiNFT, and ssiLayer2 indices rose by 1.18%, 1.01%, and 0.92%, respectively.

According to Jinshi News, Chris Turner from ING Group pointed out in a report that the US dollar is currently the currency that benefits the most from the rise in energy prices triggered by the conflict in the Middle East.He stated that expecting a de-escalation of the conflict seems premature, and America's energy independence allows it to be insulated from the impact of persistently high oil and gas prices. At the same time, the rise in energy prices raises doubts about whether the Federal Reserve can still cut interest rates twice as previously expected within the year. Turner predicts that the dollar index may rebound to 100 this month, having already risen to 99.221, reaching a six-week high.

According to CoinTelegraph, TeraWulf (stock code: WULF) released its financial report for 2025, showing that as of December 31, TeraWulf's annual revenue increased from $140.1 million in 2024 to $168.5 million in 2025.In the fourth quarter, the company's total revenue was $35.8 million, which included $26.1 million from digital assets and $9.7 million from high-performance computing (HPC), down from $50.6 million in the third quarter, with analysts previously expecting an average of $44.1 million. Additionally, the company's Q4 loss per share was $1.66, compared to a loss of $0.21 per share in the same period last year.

According to Jinshi News, Netflix's stock surged nearly 8% after hours, indicating strong market performance.

According to Gate's market data, the U.S. stock market opened lower. Although Nvidia's performance exceeded expectations, it failed to alleviate investors' concerns about the disruptive risks posed by artificial intelligence and the sustainability of profit growth among large tech companies. Nvidia, which has the largest weight in the S&P 500 index, saw its stock price drop by over 3%. Craig Johnson, chief market technician at Piper Sandler, stated that investors must actively adjust their asset allocation to adapt to the constantly changing trends in market sectors. Meanwhile, as Nvidia increases its commitments in supply, prices of memory and storage stocks rose, with SanDisk's stock price increasing by 2%.

The founder of the Aave ecosystem contribution organization ACI, Marc Zeller, released a public report disclosing that Aave Labs has received approximately $86 million in capital support since 2017, including ICO, VC financing, and direct grants from the DAO. Meanwhile, the founding team retained 23% of the LEND tokens during the 2017 ICO (which were later migrated to AAVE at a ratio of 100:1).The report points out that Labs had a capital base of about $48.7 million before receiving DAO funding, and subsequently received approximately $37.4 million in grants from the DAO. They are currently applying for an additional $51 million through the "Aave Will Win" proposal.The report critically questions the past performance of Labs' products, stating that six independent products launched apart from the core protocol have either failed or not achieved profitability. Among them, the RWA project Horizon once claimed to have surpassed $1 billion in scale, but the actual RWA collateral scale is about $135 million, highly concentrated in a single asset. Since its launch in 2025, Horizon has generated approximately $216,000 in cumulative revenue for the DAO, while incentives and related costs amount to about $5.25 million, resulting in a return on investment ratio of about 24:1.The report also notes that early core developers of Aave V1, V2, and V3 left Labs between 2021 and 2022, with V3 being seen as the last major protocol version led by Labs. Subsequent versions have primarily been advanced by DAO service providers. In related governance votes, a single large delegated address played a key role in passing the Horizon proposal, sparking community discussions about the concentration of governance power and the efficiency of fund usage.This controversy comes at a time when a new proposal for a $17.5 million product growth grant is under review, further intensifying discussions within the Aave community regarding fund allocation, performance disclosure, and governance transparency.

Bitcoin fell over 19% in February, marking its worst monthly performance since 2022, due to concerns related to global tariffs.

According to CoinDesk, the UK hedge fund Brevan Howard's crypto fund BH Digital Asset saw a net value decline of 29.5% in 2025, marking the worst annual performance for the fund since its inception in 2021, underperforming Bitcoin, which only dropped 6% during the same period.The fund primarily invests in crypto tokens and companies related to digital assets, having previously recorded increases of 43% and 52% in 2023 and 2024, respectively.According to sources cited by the Financial Times, BH Digital Asset holds a significant amount of private equity and venture capital assets, which have been notably pressured in the overall sluggish environment of the crypto market last year. Brevan Howard has not yet commented on this matter.

According to Cointelegraph, data shows that Bitcoin has dropped 22.3% since the beginning of the year, potentially marking its worst first quarter performance since 2018, when it fell by 49.7% in the first quarter. Bitcoin's trading price at the beginning of the year was around $87,700, and it has now decreased by about $20,000 to around $68,000. Additionally, Bitcoin may experience consecutive declines in January and February for the first time.Analyst Daan Trades Crypto posted on the X platform that the first quarter is known for its volatility, and based on historical price trends, what happens in the first quarter typically does not carry over to subsequent periods. Nick Ruck, director of LVRG Research, stated that the continued decline in Bitcoin's price reflects a normal correction phase rather than a structural collapse of the asset's long-term trajectory.Historical patterns show that Bitcoin's resilience often leads to a strong recovery in the following months. ETH has dropped 34.3% so far this quarter. Bitcoin has decreased by 2.3% in the past 24 hours, with a trading price of $68,670.

Renowned analyst Willy Woo stated on the X platform that the 12-year valuation trend of Bitcoin relative to gold has recently been broken. BTC's relative valuation should be higher, but in reality, it has not been achieved, mainly due to a market awakening to the risks of quantum computing, leading to early pricing of potential issues.Bitcoin is likely to be patched in the future through quantum-resistant signatures, but this does not solve the problem of approximately 4 million "lost" BTC (early lost private keys may be cracked by quantum computers) re-entering circulation. Willy Woo estimates a 75% probability that these lost Bitcoins will not be frozen through a protocol hard fork, so the market needs to account for the selling pressure of 4 million coins in advance.Since MicroStrategy began accumulating BTC in 2020, the total accumulation by enterprises and ETFs is only 2.8 million BTC. These 4 million lost tokens are equivalent to 8 years of corporate accumulation, which will result in serious supply dilution. Before "Q-Day" (the day quantum computing threats materialize, expected in 5-15 years), BTC prices will continue to be affected by this cloud of uncertainty.

Coinbase released its Q4 and full-year financial report for 2025. Despite the overall downturn in the crypto market, Coinbase achieved several historical highs, with trading volume and market share doubling, although Q4 revenue slightly missed expectations and recorded a net loss.In Q4, Coinbase reported a net loss of $667 million, with a loss per share of $2.49, far exceeding analyst expectations. Total revenue was $1.78 billion, a decrease of 5% quarter-over-quarter and approximately 22% year-over-year, falling short of market expectations of $1.83 billion to $1.85 billion. Adjusted earnings per share were $0.66, with adjusted net income of $178 million and adjusted EBITDA of $566 million.Q4 was challenging for Coinbase, but the full-year performance was strong, with total trading volume reaching $5.2 trillion, a year-over-year increase of 156%. The crypto trading market share doubled to approximately 6.4%, and subscription and service revenue grew by 23% to about $2.8 billion. The number of Coinbase One paid subscribers approached 1 million, and platform assets and USDC balances reached all-time highs.Coinbase stated that it is advancing its "Everything Exchange" strategy, which includes the expansion of derivatives and stablecoin payments. Despite short-term pressures from the bear market, Coinbase still views 2025 as a strong year and remains optimistic about product innovation and market recovery in 2026.

According to official news, LayerZero has announced the launch of the Layer 1 blockchain network Zero. It is reported that LayerZero positions Zero as a ------ multi-core world computer, indicating that the network fundamentally changes the current blockchain paradigm limited by single-threaded, homogeneous architectures.By utilizing zero-knowledge proof technology, the Zero network can support two different categories of validators: lightweight block validators that can run on low-end consumer hardware, and optional high-performance block producers. The system achieves a practical scalability roadmap of 2 million transactions per second for each Zone by addressing four major bottlenecks. The solutions include QMDB for state storage, FAFO for parallel computing scheduling, Jolt Pro for real-time zero-knowledge proof generation, and SVID for high-throughput networks.

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.