Pi Network ($PI)

After several delays, Pi Network’s open mainnet is set to launch officially on February 20th. Following this, $PI has been listed on multiple exchanges such as OKX, Bitget, Bitrue, HTX, and BitMart.

$PI launched with an initial price of $2 and reached an all-time high of $2.2 since its listing. Despite a sharp drop two days after its listing, the Stellar Consensus Protocol’s current stability at $1.58 is remarkable.

Source: CoinGecko

Kaito AI ($KAITO)

Kaito AI is a leading platform regarding AI & InfoFi by leveraging its custom LLM tailored for the crypto domain. With a vision to revolutionize information accessibility in Web3, Kaito AI transforms fragmented data into valuable insights, enabling users to make more informed decisions.

Source: CoinGecko

On February 20, Kaito opened its airdrop claim, in which the allocation was tied to its Yaps Program. Thereafter, the $KAITO price went steady above $1.61, indicating strong community support, token usecase and buying interest post-TGE. 

Kaito’s post-TGE resilience highlights the effectiveness of its “Yap-to-Earn” model and strong community engagement. 

Unlike Pi’s broad but untested base, Kaito’s niche focusing on AI-driven initiatives and governance features gives it staying power. 

Learn more: What is Kaito AI?

Story Protocol (IP)

Source: CoinGecko

Story Protocol’s $IP token, launched with its mainnet on February 13, 2025, has seen a standout performer since its TGE. By February 20, the token surged to an all-time high of $7.11 and currently stands at $4.9 as of today. 

$IP price: Updated on February 25. Source: CoinMarketCap

The surge to $7.94 reflects speculative hype, while the correction to $3.96 shows profit-taking and market stabilization. In essence, $IP benefits from clear utility, which could partly came from the NFT craze of PFP3 drives the demand for $IP due to NFT trading activities. 

Key points: PI Network may do well after the TGE because it had a low initial circulating supply. Meanwhile, both $IP and $KAITO, which are native tokens, play important roles that encourage whales to accumulate.

OpenSea Faces Controversy For Its New Reward System 

OpenSea launched the beta version of its OS2 platform on January 28, introducing an XP points system—one of the mechanisms used to determine the amount of $SEA users may receive in the upcoming airdrop.

XP points can be earned through listing NFTs, making collection offers, or other interactive elements that highlight XP-earning actions.

However, the NFT community quickly voiced their dissatisfaction with this system, criticizing it for encouraging wash trading and prioritizing platform profits from listing and bidding fees over supporting creators.

Learn more: Opensea and the Harsh Reality of the NFT Market

Monad Public Testnet Launch

Source: Monad

Monad is making a significant advancement with the launch of its public testnet on February 19. This marks a key milestone following the completion of its closed testnet phase at the end of 2024. 

The testnet will allow the blockchain community to experience and evaluate Monad’s processing capabilities in a real-world environment. Developers will have the opportunity to test their applications while also contributing to improving the system’s performance and security before its official launch in late 2025.

Among its core capabilities, the testnet introduces a gas limit of 300 million gas per second, expected to support a throughput of 10,000 transactions per second (TPS). 

Learn more: Monad Launches Public Testnet Today

Monad is such a potential Layer 1 EVM blockchain, as explained in a previous article . Therefore, investors should closely monitor the Monad Airdrop to secure early Testnet access and potentially earn substantial airdrop rewards. 

Explore how to join Monad Airdrop effectively and easily here. 

Hackers Steal $1.4 Billion from Bybit

On February 21, Bybit suffered a massive security breach, resulting in the theft of approximately $1.46 billion in Ethereum (ETH) and related tokens from one of its offline cold wallets. This incident is considered the largest cryptocurrency hack in history, surpassing previous records like the $611 million Poly Network theft in 2021. 

The attack occurred during a routine transfer from a multisignature cold wallet to a warm wallet, where hackers used a sophisticated method to manipulate the transaction process. They masked the signing interface to deceive Bybit’s team into approving a malicious transfer, allowing the funds to be siphoned to an unknown address.

The stolen funds, primarily ETH and staked tokens like stETH and mETH, were quickly dispersed across multiple wallets and laundered through decentralized exchanges, cross-chain bridges, and services like eXch, with some converted into Bitcoin to obscure the trail.

Bybit’s CEO, Ben Zhou emphasized the company’s commitment to recovering the funds, offering a 10% reward for assistance from cybersecurity experts, and collaborating with authorities and forensic teams to trace the assets.

Read more: Recap of the $1.4 billion robbery from Bybit by hackers

Next Steps

Last week’s crypto and NFT market witnessed ups and downs—from TGE highs to a historic hack—setting the stage for both opportunity and caution. 

$PI, $KAITO and $IP are holding strong post-TGE; track their ecosystems (Kaito’s Yaps, Story Protocol’s IP Portal) for signs of sustained growth, while $PI with less utility in tokens is still questionable.

At the moment, Monad is one of the most to-watch protocols for Airdrop potential.

Bybit’s $1.4 billion hack is a stark reminder: audit your security. Move assets to hardware wallets or trusted multisignature setups and avoid keeping large sums on exchanges even in cold wallets. 

The post Weekly Crypto and NFT Market Recap (17 Feb – 23 Feb) appeared first on NFT Evening.

The crypto market experienced a jolt of enthusiasm last week with numerous new TGEs and token unveilings. Story Protocol took center stage by launching its mainnet on February 13, unveiling the $IP token. Boasting a total supply of 1 billion tokens and 25% unlocked at launch, Story Protocol aspires to transform the IP market by enabling programmable intellectual property on the blockchain. This truly visionary venture has already attracted very considerable interest from both developers and investors alike.

Source: CoinGecko

Meanwhile, Doodles, an outstanding NFT collection recently has revealed its highly-anticipated $DOOD token. With an emphasis on community involvement, 35% of the token supply was reserved for the community, while 25% was allocated to an ecosystem fund. OpenSea, the premier NFT marketplace, likewise announced overall plans for its $SEA token, aiming to broaden platform utility and motivate user participation. 

$DOOD Tokenomics – Source: Doodles

Kaito AI revealed its intentions for the $KAITO token. This remarkable leading InfoFi project aims at the attention economy by providing revenue avenues through AI-driven algorithms. Though the official launch remains pending, the anticipation around Kaito AI underscores the surge occurring at the crossroads of AI and blockchain technology.

Read more: Kaito Introduces $KAITO Token to Revolutionize Attention Economy

2. Binance Introduces $CHEEMS and $TST & BNB Chain Performance Surges

Binance continued to capture attention across the crypto market by rolling out $CHEEMS and $TST, two meme coins on the BNB Chain. These listings were purposeful, designed to leverage elevated market sentiment while directing trading volume toward the BNB Chain. Both tokens quickly gained strong momentum, illustrating the strength of meme culture within the crypto arena.

The BNB Chain has been surpassing other blockchain networks lately, propelled by successful projects such as $THE, $ID, $CAKE, and XVS. These tokens have achieved notable growth, drawing in a diverse group of investors and traders. $ID soared by over 180% in the last month, showcasing robust investor faith, while $CAKE’s recent deflationary mechanisms and staking incentives have boosted its endurance and price climb. XVS, the governance token for Venus Protocol, has benefited from growing lending and borrowing activity throughout the BNB Chain ecosystem.

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This move by Binance highlights its ongoing effort to boost the BNB Chain’s market presence and maintain its position as a leading blockchain network. The success of $CHEEMS and $TST also demonstrates the continued popularity and profitability of meme tokens, especially when backed by a major exchange like Binance. With BNB Chain consistently ranking among the most active blockchain networks by transaction volume, it remains a dominant force in the evolving crypto landscape.

BNB Chain Ecosystem witnessed a notable performance last week – Source: CoinGecko

3. Mantra (OM) Continues Its Remarkable Rise

Mantra has seen an astonishing ascent over the past few weeks, continuing to gain steam in the market. Trading at $7.24 on its way up as of February 17, the token’s price leap clearly stems from a combination of factors, including strategic partnerships, platform enhancements, and growing user uptake. Mantra’s emphasis on DeFi solutions, encompassing staking and lending, has elevated its standing as a key player within the DeFi ecosystem.

Mantra becomes one of the best performance Techcoin in this season – Source: CoinGecko

The platform’s latest integration with major blockchain networks and its dedication to delivering secure and transparent financial services have substantially lifted investor confidence. Furthermore, the rising enthusiasm for DeFi and the growing need for decentralized financial products have further fed Mantra’s upward trajectory overall.

Armed with a loyal community and a well-defined vision for the future, Mantra continues to draw interest from both retail and institutional investors. Its robust market showing echoes the wider trend of DeFi projects gaining momentum and offering novel solutions throughout the crypto space.

4. $LIBRA: The Memecoin Tied to Argentina’s Political Drama

The memecoin $LIBRA has dominated headlines lately, not for its tech innovations but due to its surprising link with Argentina’s political upheaval. After rumors that Argentine President Javier Milei was allegedly involved in a financial scandal resulting in the rug pull of investors, $LIBRA’s price soon saw wild fluctuations that astonished many observers.

Read more: $LIBRA Token’s Shocking Rug Pull and Fallout

The uproar around President Milei’s ties to financial wrongdoing rippled across the crypto market, prompting traders to scramble either to profit from the buzz or exit their positions ahead of further losses. Some sources indicate that a single investor lost as much as $5 million during the maelstrom, spotlighting the dangers linked with trading speculative memecoins.

5. Tether’s Strategic Investment in Juventus Football Club

In an audacious move blending sports and blockchain, Tether has announced a strategic minority stake investment in Juventus Football Club, one of Italy’s most renowned football teams. This represents a pivotal milestone for the stablecoin issuer, as it continues expanding its reach beyond digital finance and into mainstream commercial sectors worldwide.

This investment supports Tether’s larger goal of integrating blockchain technology into traditional commerce. By obtaining a stake in Juventus, Tether not only strengthens its brand footing in Europe but also bolsters the idea that crypto firms are ever more impacting legacy industries globally.

The alliance may also spur Juventus to use Tether’s blockchain know-how for fan engagement strategies, digital ticketing, or even blockchain-driven loyalty programs. This decision mirrors the rising pattern of crypto companies forging paths into mainstream markets, establishing a standard for upcoming partnerships between sports organizations and blockchain entities.

6. Next Steps

The past week’s crypto market movements have laid the foundation for ongoing innovation and instability. With prominent token releases such as $IP, $DOOD, and $KAITO sparking interest, investors will closely observe how these projects evolve and if they can maintain their traction. Moreover, Binance’s planned drive to lead trading volume via the BNB Chain implies that additional token launches and liquidity incentives could lie on the horizon.

Meanwhile, the memecoin scene stays as unpredictable as ever, with $LIBRA showcasing the strength of social and political narratives in steering price moves. Traders must stay alert, as sentiment-driven price spikes can prove both profitable and risky, as the recent rug pull revealed.

Tether’s involvement with Juventus indicates a rising trend of blockchain players embedding themselves in traditional industries. It will be intriguing to observe if this drives further alliances between crypto entities and mainstream brands, possibly introducing new use cases for blockchain technology.

Looking forward, carefully monitor regulatory shifts, Layer 2 uptake, and broad macroeconomic drivers that may impact Bitcoin and altcoin movement in the weeks to come. Remaining well-informed and nimble will prove essential to navigating the ever-shifting crypto space with confidence.

The post Weekly Crypto and NFT Market Recap (10 Feb – 16 Feb) appeared first on NFT Evening.