On February 24, Glassnode said its 90‑day SMA of Bitcoin's Realized Profit/Loss Ratio slipped below 1, marking loss‑dominant selling. The firm noted that such breakdowns have often persisted for six months or longer before liquidity returns. Bitcoin traded near $63,200, down 3.6% on the day and almost 29% over a month.

Binance reported that its sanctions-linked trading exposure as a share of overall volume fell from 0.284% in January 2024 to 0.009% by July 2025, while connections to major Iranian exchanges also declined sharply. The exchange's update follows reports alleging over $1 billion in transactions tied to Iranian counterparties and claims that staff were removed after raising compliance concerns, accusations Binance rejects.

On February 23, analyst Arthur reported that visible XRP Ledger activity has dropped between 50% and 80% in recent weeks, with active tagged users, payment volume, and sending accounts all sharply lower. He linked the decline to the February 18 activation of XLS-81, which enables permissioned institutional trading that does not show on public dashboards, and argued that this may mask underlying demand. XRP is trading around $1.39 with double-digit percentage losses over the past month and year, while on-chain loss metrics and valuation ratios from Santiment present mixed longer-term signals.

Nearly 3 million Bitcoin, valued at about $200 billion and representing 15% of circulating supply, are still held on centralized exchanges, with a significant share concentrated on a few major platforms. Data indicates Binance controls around 30% of exchange-held BTC, while Coinbase Pro holds roughly 792,000 BTC, highlighting how liquidity and trading activity remain centered on large venues despite the FTX collapse and ongoing self-custody messaging.

According to Santiment on February 19, daily new addresses on Solana have been increasing even as market sentiment weakens. SOL trades around $84 after a multi‑month retreat that left it 67% under its September 2025 high, with derivatives funding deeply negative and exchange outflows topping inflows in recent weeks.

According to Arkham, Vitalik Buterin holds more than 240,000 ETH worth about $467 million and ranks as the largest accessible individual holder. In late January 2026 he withdrew 16,384 ETH, followed by sales totaling around 2,961 ETH over three days in early February routed via CoW Protocol.

The White House is moving forward with draft rules that would bar yield on payment stablecoins and penalize evasion. Proposed enforcement would empower the SEC and CFTC to levy civil fines of $500,000 per violation per day. The measures emerged during the administration's third meeting with crypto firms and banking trade groups.

On February 18 at ETHDenver, SEC Chair Paul Atkins said regulators should not overreact to falling crypto prices as Bitcoin hovered around $66,000 and other major tokens declined. Instead, he outlined Project Crypto, a joint SEC–CFTC effort to define asset classifications, rules for tokenized securities on automated market makers, and custody guidance, while Commissioner Hester Peirce stressed that long‑term value depends on building useful products rather than short‑term market moves.

A cohort of self-custodied Bitcoin addresses holding 10–10,000 BTC with 1–3 month UTXOs is down 23.39%, equating to $27.89B in unrealized losses, according to GugaOnChain. U.S. ETFs have seen $8.5B in outflows since October as exposure fell by two-thirds since late 2024. Bitcoin trades just under $67,000 with mixed short-term momentum.