 ▲ Bitcoin (BTC), XRP / ChatGPT-generated image |
The cryptocurrency market has entered a phase of chaos as massive institutional capital inflows mix with controversy over technical flaws, simultaneously stimulating investor anxiety and expectations.
According to crypto-focused outlet U.Today on February 18 (local time), the number of active addresses on the XRP network fell 26% over the past week to 40,778, while the amount burned as transaction fees plunged by roughly 75%. Such declines in network metrics on the XRP Ledger signal a contraction in actual payment demand and network usage. In particular, criticism over compatibility issues between newly introduced development tools and mainnet functions has further fueled concerns about technical reliability.
Bitcoin (BTC) has also entered a new volatility phase, observed for the first time in about a year, signaling a potential directional shift that could end its prolonged stagnation. The outlet analyzed that the current expansion in volatility may represent an accumulation phase preparing for an upward cycle rather than a simple downturn. However, on-chain analytics firm Glassnode warned that Bitcoin’s current accumulation trend score is significantly lower than the aggressive buying pattern seen in November 2025, raising concerns about weakening recovery momentum.
Meanwhile, Ethereum (ETH) is attempting a rebound to fill a price gap in the Chicago Mercantile Exchange (CME) futures market, aiming to reclaim the $2,700 level. As BlackRock prepares to launch a spot Ethereum ETF staking product with a management fee of around 0.25%, institutional capital flows toward Ethereum have become increasingly evident. Some observers predict that even a 1% allocation of Asian household assets could inject an astronomical $2 trillion into the market, dramatically shaking the sector.
Traditional financial institutions are seizing on market fear to pursue aggressive accumulation strategies. Charles Schwab recently purchased $170 million worth of MicroStrategy shares, maximizing its exposure to Bitcoin. Bank of America (BOA) and the Royal Bank of Canada (RBC) also significantly increased their stakes in Bitmine (BMNR) despite its book losses. This suggests that major capital players trust crypto infrastructure companies as effective proxy assets for Bitcoin exposure.
Apart from the market’s growth trajectory, regulatory uncertainty continues to deepen political tensions in the United States. Coin Center, a crypto advocacy group, strongly opposed moves by the Senate Judiciary Committee to remove developer protection provisions from a digital asset market structure bill. The group warned that eliminating protections shielding developers from legal liability for third-party actions resulting from code they write could undermine the technological foundation within the United States.
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