KAITO is the core currency of Kaito AI’s InfoFi ecosystem, enabling transactions, governance, staking, and community engagement.

The S&P 500 fell 0.43% amid Walmart’s weak outlook, with investors eyeing PMI and home sales data next. Gold rose 0.23% to $2,939 on safe-haven demand but retreated from a $2,954 high. Traders await S&P Global Flash PMIs. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 0.02%, with Bitcoin and Ether rising by 2.46% and 0.69%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is BERA, which surged nearly 15.8% after The Graph integrated Berachain Mainnet on day one, enabling seamless onchain data access.

Berachain (BERA), founded in 2021, is a Layer 1 blockchain with Proof-of-Liquidity consensus, ensuring security and liquidity while maintaining full Ethereum compatibility. The Graph has 

 support for the newly launched Berachain mainnet from day one. Developers can now query Berachain data using Subgraph Studio, making it easier to organize and access onchain data. This integration enables the creation of fast and efficient frontends for Berachain-powered dapps.

Check Out the Latest Prices, Charts, and Data of 

 is the core currency of Kaito AI’s InfoFi ecosystem, enabling transactions, governance, staking, and community engagement. The total supply is allocated as follows: 56.67% to community and ecosystem initiatives (including ecosystem growth, creator incentives, and liquidity rewards), 25% to core contributors, 10% to the foundation, and 8.3% to early backers. Distribution is merit-based, using AI-driven assessments of engagement, governance participation, and long-term alignment with Kaito’s vision. Staking provides rewards and voting rights, ensuring active participation. A claim process for KAITO will be announced soon.

Yesterday, BTC Spot ETFs recorded a net outflow of $252.8M, including $33.5M from GBTC and $219.3M from non-GBTC funds.

. With $43 million in funding, this presents a valuable opportunity. To maximize your points, complete the "Generate at least one transaction on Sahara Testnet" task by sending a small amount of SAHARA via Metamask. This earns 20 points, a significant amount compared to other tasks. Ensure you take full advantage of this opportunity.

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KAITO Powers the InfoFi Ecosystem with Governance Staking and Community Rewards

Kaito is an AI-powered information indexer specifically designed to deliver actionable insights for cryptocurrency traders and investors. Find out more now!

Within a year of its launch, Kaito has already established itself as a key player in the web3 industry. Its innovative approach combines artificial intelligence with publicly available crypto conversation data, creating a tool that can present an up-to-date picture of the events affecting the cryptocurrency space at any given time.

 is an AI-powered search engine specifically designed for the cryptocurrency space. It’s a premium service with a monthly subscription of $1,099. The platform indexes thousands of 

 sources that aren’t accessible through traditional search engines, and gathers data from Twitter, Discord, governance forums, research papers, news articles, podcasts and even conference transcripts. 

Kaito uses advanced AI algorithms and natural language processing to better understand context and gauge sentiment about topics. Its use of AI and an internal algorithm allows Kaito to filter out the noise, presenting a more accurate picture of community sentiment. 

. Before moving to web3, Hu worked in the traditional finance space for over eight years, including the management of a $500 million equities portfolio at Citadel. His aim with Kaito is to democratize web3 information by giving users access to tools and insights they need to navigate this ever-changing industry. 

Kaito has quickly attracted significant investment from major 

 in the industry. The project has already raised $10.8 million across two funding rounds.

The seed round in August 2023 was led by Dragonfly Capital, with participation from Sequoia Capital China, Jane Street and others, as Kaito secured $5.3 million. This was followed by a Series A round in June 2023, led by Superscrypt and Spartan, raising an additional $5.5 million with a valuation of $87.5 million. Other notable investors include Mirana Ventures, Folius Ventures and Alpha Lab Capital. 

Kaito offers a range of features designed to provide users with comprehensive and actionable insights. They include the following:

: Kaito’s platform uses a custom-built large language model (LLM) in combination with real-time data gathered from various sources to provide users with actionable insights on developments in the web3 space. 

:As a web3-native company, Kaito can analyze and understand the nuances of 

 and concepts. This gives it an edge when compared to Web 2.0 search engines that struggle to understand this space. 

: Kaito tracks market sentiment at various levels, including general market sentiment, sector-specific sentiment and sentiment toward specific tokens and projects, providing investors and traders with an important metric in assessing a project’s value.

Kaito uses a custom LLM to enhance its data processing capabilities. The platform aggregates data continuously from various sources, including social media, forums and news websites. This data is then processed using Kaito’s natural language processing capability to identify relevant information, extract key insights and analyze market sentiment. 

In addition, its platform uses a reputation system to give weightage to different posts based on the reputation of each poster. It also employs sophisticated algorithms to filter out spam and bots that often try to shape public opinion on social media platforms, especially on X. 

In December 2024, Kaito AI introduced two new elements to its ecosystem: 

 collection. Yaps is a scoring system that measures user contribution and engagement within the web3 community. Users earn 

 by creating valuable content, engaging with others in the crypto space and participating in discussions on 

. Kaito uses four main attributes in allotting these points:

The system also automatically filters out spam posts, making sure only real posters and useful posts can earn Yap points. While Kaito hasn’t officially confirmed a token airdrop associated with Yaps, the program allows participants to accumulate points that might play a role in future rewards, or initiatives within the Kaito AI ecosystem.

Participation in the Yaps program is completely free. Users just need to log in with their Crypto Twitter accounts and Kaito will start tracking their Yaps scores automatically. 

Genesis NFTis a limited-edition collection of 1,500 

 launched by Kaito AI. Priced at 0.1 ETH each, these NFTs have been minted in three phases:

As of Dec 26, 2024, NFTs in the collection are tradable on OpenSea, with a floor price of approximately 3.69 ETH. 

Kaito is a new and innovative service in the web3 space. Its use of AI to cut through the noise and fragmentation presents a great opportunity for the entire ecosystem. Kaito’s 

 suggests that it’s likely to roll out new features and/or services in the future. While the high subscription fee may be an obstacle for large-scale adoption, Kaito is still likely to become an important tool in the hands of institutions and 

 Perpetual Contract with up to 75x leverage now!

Intermediate

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Kaito: AI-Powered Web3 Information Platform

Our weekly crypto derivatives analytics report delves into macro events, the current state of crypto and trading signals from spot trading volume, as well as futures, options and perpetual contracts.

With fewer macroeconomic releases in early 2025, the crypto market has experienced lower volatility and stagnant spot prices. This has led to decreased implied volatility in derivatives, a steepening term structure and stable open interest. 

However, ETH options still anticipate continued price volatility. Historically, such sideways movements have seen altcoins underperform, reflected in disappointing funding rates in the derivatives market.

Please check out the report’s highlights.

Without clear narratives or volatile spot price movements, open interest in perpetual swap contracts has remained flat over the past two weeks, with trade volumes also subdued in this low-volatility environment. Notably, SOL's perpetual positioning hasn’t significantly changed, even with its spot price 35% below its all-time high from late January.

On February 17, ETH’s spot price surged 6%, contrasting with the sideways movement of other crypto assets, but those gains were nearly reversed within 24 hours. This led to higher realized volatility in derivatives, and a flatter term structure as compared to BTC. Traders continue to assign a premium to short-dated ETH options, whose volatility has been higher than that of BTC for some time. Additionally, ETH option trade volumes have spiked, with calls reaching $0.25 billion on Feb 15, 2025.

Since reaching its all-time high in late January 2025, Solana's spot price has declined, leading to muted options markets with low activity in both calls and puts. Open interest is balanced between upside and downside, and is primarily focused on longer-dated positions, reflecting a lack of interest in short-term trades amidst disappointing spot market activity.

Advanced

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Feb 19, 2025): Crypto Remains Silent as ETH Sees Volatility

Across Protocol (ACX) enables seamless, low-cost cross-chain transfers with intent-based transactions, enhancing DeFi accessibility and security.

Transferring crypto assets from one blockchain network to another is still cumbersome, costly and inconvenient for many users, particularly those without a deep technical understanding of the technology. Numerous 

 solutions have emerged to facilitate the process, but the costs and complexity of crypto transfers are still an issue limiting the adoption of cross-chain 

Across Protocol (ACX) is a blockchain project that aims to tackle this problem by offering highly efficient, low-cost and secure cross-chain transactions based on intent technology. 

Intents — transaction requests with prespecified conditions — have seen rapid adoption in the blockchain industry. Across Protocol has focused its service offerings on using this promising technology. Begun in 2021 as a solution to facilitate token transfers between 

 networks linked to the blockchain, the protocol has evolved through two major version upgrades into a modular cross-chain solution that DApp operators can easily integrate into their platforms.

The protocol’s latest iteration, Across V3, features a modular settlement layer that 

 (DeFi) platforms can leverage to offer their users seamless, intent-based cross-chain swaps and asset transfers, all without leaving the user app’s native interface.

 (ACX) is an intent-based, modular web3 solution that offers cross-chain crypto transfers and swaps.

 Using the protocol, DApp operators can integrate Across into their own solutions to let their end users conduct intent-based cross-chain operations.

Across is not a newcomer to the blockchain scene — the project was launched in late 2021 and might be considered one of the first, if not the first, decentralized protocols specializing in intent-based cross-chain transactions. The original protocol, now known as Across V1, was primarily limited to enabling direct asset transfers between Ethereum and Layer 2 chains connected to the world's largest 

In June 2022, the protocol underwent its first significant upgrade with the introduction of Across V2. This upgrade improved the overall efficiency of the platform and introduced new functions. The major difference between V1 and V2 was that the latter could facilitate further intent-based transactions after the transfer of assets from the origin chain to the destination network. In contrast, Across V1 was limited to simple asset bridging between chains.

However, the protocol's most significant upgrade arrived in the form of Across V3, announced in February 2024, which introduced asset swap functionality and architectural modularity, allowing Across to act as a pluggable solution for various DeFi applications. Across V3 also simplified the calculation of fees for cross-chain operations. With Across V3, DApps of various kinds — primarily in the DeFi niche — can easily integrate intent-based cross-chain asset transfers, swaps and liquidity solutions into their own platforms. The protocol provides a set of APIs for developers for such integration.

The best part is that users of these DApps don't need to leave the platforms' native interfaces to execute the cross-chain operations. All of the activities supported by Across Protocol are carried out via the client's DApp interface. This is in stark contrast to the typical cross-chain experience for many web3 users, as they need to use multiple interfaces — e.g., one provided by an asset bridging solution and another at the destination app they use — to carry out their desired crypto operations.

Transactions executed by the protocol are based on user intents. Intents are conditional requests from users to perform some action, e.g., a token swap from ETH to USDT, if specific requirements are met, e.g., the swap rate is no lower than a certain value of ETH. In reality, many intents are executable transactions in the form of 

. Intent-based transactions have recently become popular in the crypto industry, due to benefits such as the limit on swap rates, a no-slippage fee model and other conditions that perfectly fit users' intended outcomes.

User intents are passed to Across's decentralized network or relayers, also known as solvers or fillers, which look for the best on-chain sources to satisfy the requests. Relayers compete with each other to offer the best solution to the user's stated outcome. The relayer that provides the best outcome earns the right to execute the transaction. This competitive relayer landscape allows end users to access the best possible rates for their cross-chain transfers and swaps.

Across Protocol locks user funds allocated for a transaction in an escrow pool instead of immediately transferring them to the winning relayer's custody, providing enhanced security to users. Relayers are responsible for providing the necessary funds to carry out the transaction on their own without having access to the user funds in escrow. When a relayer successfully executes an intent, they’re repaid from the liquidity pool holding the escrowed assets. To optimize 

, repayments to relayers are bundled and transferred in batches.

At the architectural level, Across is a modular system with three main layers — intent, relayer and settlement.

The intent layer is the component that handles user intents and their deposits at the origin chain. Then, the relayer hosts the network of relayer nodes and handles functions related to their activity — provision of capital to execute user intents, competitive bidding and the execution of intents.

The settlement layer is where the finalization of the transaction flow occurs, with relayers repaid in bundles and transactions settled on the destination chain. Verification of transactions uses an optimistic oracle that’s provided by the 

, a protocol specializing in blockchain oracle services.

Across Bridge is a cross-chain token bridge designed for efficient, low-cost and secure asset transfers. It provides an easy-to-use interface for users to move tokens seamlessly between different decentralized networks. To start using the bridge, you’ll need to connect a supported wallet. As of early February 2025, the bridge supports four popular wallet types — 

, Coinbase Wallet, Phantom and the group of wallets compatible with the WalletConnect framework. Currently supported networks for transfers include the Ethereum mainnet, 

 (POL) and zkSync Era. Transfers from the origin chain to the destination chain typically take only a few seconds to confirm.

Across+ is a bridge abstraction solution that utilizes cross-chain hooks to bundle multiple actions into one user transaction. In plain terms, it simply means that you can bridge assets to a protocol or DApp on the destination chain and carry out further actions (such as contributing liquidity) with a single transaction. For end users, this helps abstract the fact that the assets used for a crypto operation have been initially moved in from a different network. The cross-chain hooks let end-users carry out these transactions with a single instruction/signature, although under the hood, multiple actions are performed at the smart contract level.

Across+ boasts an extensive cross-chain reach. It currently supports 17 networks, including Ethereum and a wide range of Ethereum-linked Layer 2 chains.

Earlier, we noted that Across Protocol moved to a modular design with the launch of its V3 in early 2024. This shift to modularity has created opportunities for DApps and external protocols to use the platform’s settlement layer as a pluggable standalone product to provide efficient settlement for intent-based cross-chain transactions. Using Across Settlement, DApps can extend their functionality into intent-based liquidity operations, swaps and transfers. Across Settlement supports the same 17 decentralized networks that can be utilized with Across+.

In November 2022, Across Protocol launched its native token, ACX. The token is primarily used for 

, and holders can vote on various proposals related to the protocol's rules, future direction, treasury spending and native token emission. ACX holders exercise their governance function through membership in the Across DAO.

Holders of the token represent one component of the protocol’s governance model. The other two key parties involved are the Across Council and Committees, made up of specific subject matter experts. While all ACX token holders are entitled to vote on proposals, only those who hold at least 50,000 ACX (around $16,000) can submit proposals considered for voting.

ACX is a supply-capped asset, with a total and maximum supply of 1 billion. The token’s allocation shares are as follows:

 as a Perpetual contract with USDT. Under the terms of the contract, you can trade ACX with up to 50x leverage. The contract is available to traders in Bybit’s derivatives products, such as 

As of Feb 20, 2025, the ACX token is trading at $0.3257, which is 80.7% lower than its ATH of $1.69 on Dec 6, 2024, and 846.3% higher than its ATL of $0.03441 on Jun 1, 2023.

Long-term price forecasts for ACX are mostly bullish.DigitalCoinPrice 

 an average rate of $1.17 in 2027 and $1.78 in 2030, whileCoinCodex 

 the token to trade at around $0.34 in 2027 and rise to $1.12 in 2030.

The inefficient and often costly process of moving assets from one chain to another continues to hamper the adoption of DApps among crypto users. By enabling cross-chain intent-based functionality, Across Protocol seeks to provide DApps and their end users with a truly single-chain experience, where crypto operations across different networks can be handled from the same user interface.

Moreover, some of the protocol's key features — intent-based transaction execution, the competitive nature of the relayers' work and the batching of relayer repayments — contribute to lowering the costs of transfers and other crypto operations. Furthermore, the escrow system that the protocol employs protects users from malicious relayers, contributing to a stronger security profile for its platform. 

Minimal costs and tight security while carrying out your cross-chain crypto operations from a single DApp interface — these features aren't easy to come by all in one solution! 

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Across (ACX): An Intents-Driven Solution for Cross-Chain Transfers

Crypto

The decreasing supply of BTC may drive the price to new heights, but FUD remains a big concern. Find out what other factors are contributing to the volatility.

Bitcoin’s price has been on a seemingly catastrophic and cathartic rollercoaster ride since March of last year, when the price was as low as $3,000 amid the chaos surrounding the pandemic. Interestingly, the asset has successfully surpassed the much anticipated $20,000 ceiling over the past year and gone as high as $64,000 before the fall to the $32,000 range in July 2021. 

One of the driving factors behind the wild ride could be the smaller 

 of Bitcoin. On-chain data shows that about 

 on July 13, 2021, and the number continues to get smaller as the year progresses.

According to blockchain data assessments, the decreasing supply of Bitcoin drives the price to new heights, as larger investors rush toward Bitcoin as a good store of value. As a result of the recent Bitcoin halving, several Wall Street institutions, including Goldman Sachs, Citigroup, and BlackRock, Grayscale Investment, are embracing cryptocurrencies as an asset class for investments. 

However, despite the support from payment giants such as PayPal or the celebrities’ promotion on social media, Bitcoin has recently proven its extreme volatility as the price plummeted by over 40% to as low as $34,000.  

What Are the Factors Contributing to the Volatility?

There could be many factors contributing to Bitcoin’s recent precipitous decline. A lot of it has to do with FUD (Fear, Uncertainty, and Doubt). Recently in May 2021, the 

 from providing services that employ digital currency because of its volatility. At the same time, tech mogul Elon Musk has announced that his company, Tesla, isn’t going to accept Bitcoin as a form of payment anymore because of its voracious appetite for electricity and allegedly wasteful consensus algorithm. 

Bitcoin’s price took many hits amid pressure from Musk’s comments and the legislation from the Chinese Government. In the aftermath of Musk’s comments, investors 

 products into other assets such as gold and Ether. Similarly, amidst chaos from Musk and China, large crypto holders — commonly known as whales — 

A lot of cryptocurrency prices are caught in a constant battle between fear and trust. Since the asset is fairly nascent compared to the age-old commodity and stock markets, cryptocurrencies continue to surge and plummet. The most recent example is that Bitcoin rallied toward the $40,000 threshold after 

. But BTC price has soon plummeted to $30,00 threshold amid 

This brings us to the main questions: Why are cryptocurrencies so volatile, and why are they so sensitive to fear and trust? 

What Does Healthy Market Volatility Look Like? 

Volatility essentially refers to changes in the price of an asset. Volatility or price change, in this case, could be healthy — with gradual increases and decreases in price within a specific range — or it could be extreme, with aggressive price movements in uncertain directions. 

Extreme volatility often carries negative connotations because many equate volatility with market chaos, uncertainty, doubt, and fear of loss. In aggressive markets, investors and traders tend to place bets anticipating continued swings. An example of extreme market volatility is the 2008 Financial Crisis, which caused the stock market to collapse. 

Actually, such cases are rare, and what we see in markets daily is healthy volatility. During healthy volatility, price changes occur as traders and investors adjust to information and speculation about companies, industry, and macroeconomic sentiments. Investors and traders evaluate market conditions and buy or sell accordingly, based on how they feel the factors will affect an asset’s price. 

Studies show that some of the most common factors driving volatility in various markets include rapid news cycles inciting speculators to move in and out, increasing institutional investors, and the emergence of derivatives markets.

As we all know, crypto volatility is very different from that of traditional markets. There are no indicators to measure cryptocurrency market volatility. Traders assess the assets fundamentally by looking at historical price charts and analyze the aggressive peaks and troughs, which occur at a more aggressive pace than in traditional markets.

Interestingly, many of the factors that drive volatility in traditional markets also apply to the cryptocurrency market. And just as in traditional markets, speculations, news developments, the emergence of institutional players, and derivatives markets also drive volatility. However, the effects of these factors are amplified in the crypto market, which leads us to another question.

Why Does Bitcoin’s Price Surge and Plunge so Quickly? 

 have a great impact on Bitcoin’s volatility. While the VIX or CBOE volatility index is great to measure the level of risk, fear, or stress in the crypto markets, which applies to Bitcoin investment. Still, here are some other reasons in 

 that tell why Bitcoin’s price surges and plunges so quickly. 

Whales and institutional players (investors) play a crucial role when it comes to manipulating asset volatility. According to experts, crypto whales who deposit a significant volume of their Bitcoin holdings to exchanges could be one of the driving factors behind Bitcoin’s extreme price drops. These crypto whales deposit large amounts of their holdings to cash in on the asset’s price surges. 

 that when whales and institutional players buy dips during an asset run-up or sell when prices surge, most retail investors choose to copy these players, which significantly shifts the prices. 

Bitcoin, like other cryptocurrencies, is very sensitive to speculation and legislation. This is why regulatory uncertainty is one of the main factors affecting Bitcoin’s sudden price drops. We can take examples from both China and the United States. Regulators in the U.S. have shown, time and again, both their resentment toward — and weird support for — Bitcoin. 

However, amid recent speculation that the U.S. treasury department is planning to introduce a mechanism to monitor users’ wallets, many asset holders sold their assets. Similarly, when the China Banking Association barred financial institutions from dealing with digital assets, Bitcoin plummeted by over 40%. 

One of the most crucial factors driving volatility in the market is speculation. The speculation involves investors predicting and placing bets on whether the price of an asset will surge or plummet. Not surprisingly, a lot of this has to do with the market’s inherent volatility — the very thing that attracts speculative investors to make money by guessing swings. 

Investors often look to make money with such predictions, buying right before either event occurs. Investors often profit from short-selling their assets right before crashes. With an increasing number of speculative investors joining the market, these speculative bets often cause more volatility in an already volatile market. 

Despite the emergence of cryptocurrencies into mainstream media, the market size is small compared to the age-old fiat currency and gold markets. At its peak, the 

, compared to the $28 trillion U. S. stock market and $8 trillion gold market. 

The smaller cryptocurrency market is prone to shifts and ripples, in contrast to larger traditional markets. However, the cryptocurrency market is still developing and is relatively new. This means there is a myriad of opportunities amidst the crypto market’s new and exciting developments. 

Since the cryptocurrency market is fairly small, with tons of speculation, social media and communities have a massive impact on where prices go next. This is because speculative traders and investors are often on the hunt for the next big headline and are in a constant race to buy or sell to profit the most. The increasing number of investors joining the market has allowed media stores surrounding cryptocurrencies to impact asset prices significantly. 

Another factor that could be responsible for Bitcoin’s sudden price movements is the emergence of derivatives trading. Drops in Bitcoin price can be accompanied by mass liquidation of numerous derivatives positions, leading to market overheating. This causes overleveraging in the futures market. 

The value of perpetual contracts surging over the value of Bitcoin and its underlying equity could be a driving factor behind Bitcoin’s aggressive price drops. Cryptocurrency trading has developed into a complex environment, with an ever-increasing number of sophisticated and institutional products such as futures, leveraged margin trades, and 

 protocols. However, a sudden drop in Bitcoin’s price could start a domino effect of automated responses executed by trading bots within milliseconds, resulting in a sudden oversupply of Bitcoin. This would therefore amplify the price drop. 

While there are a fairly large number of HODLers who have gone through thick and thin to hold onto their assets, many small investors may not possess the same resilience and perseverance needed to survive the extreme price swings. 

Investor caution is one of the many reasons why Bitcoin goes through extreme price drops and surges. FUD and FOMO play a significant role in investors who don’t share the same patience as veteran HODLers. When Bitcoin’s price goes through sharp shifts in either direction, investors often become stressed and buy or sell accordingly. 

With El Salvador’s debacle and Tesla’s conditional acceptance of Bitcoin, if miners use cleaner energy for their mining processes, Bitcoin’s price is stabilizing and could attract institutional investment. With rumors surrounding Central American countries jumping on board with El Salvador to accept Bitcoin as legal tender, it’s possible for Bitcoin’s price to stop plummeting.

However, predicting when and where this bullish run will end is hard to do. Numerous external variables are at play, such as the pandemic, unexpected regulatory fallout, the difficulty in predicting crypto whale moves, and the uncertainty of where the market will move. Until there are regulations to stop market manipulations, anything could happen to Bitcoin’s price. 

Before you decide to hold on to your positions or exit existing ones, you must understand that there are numerous stakeholders in the market, and each of them plays a crucial role in the movement of Bitcoin’s price. So resist the pull and push of FOMO and FUD, do your due diligence, and be patient.

Why Do Extreme Price Fluctuations Happen in the Crypto Market?

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