Jan 26 – Feb 2, 2026 On-Chain Resilience Amid Market Plunge
Market Overview
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Global Market Cap: $2.70 Trillion (down 11.5% WoW).
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BTC Dominance: 57.76% (Market Cap: $1.56 Trillion).
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Fear & Greed Index: 13 (Extreme Fear), reflecting a sharp market correction and pessimistic sentiment.
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ETF Capital Flows:
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BTC ETFs: Weekly net outflow of $1.49 Billion (Cumulative inflow: $55.01 Billion).
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ETH ETFs: Weekly net outflow of $327 Million (Cumulative inflow: $11.97 Billion).
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Capital Flows & Stablecoins
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Total Market Cap: $310 Billion (slight decrease of 0.26%).
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Competitive Landscape: USDT (59.7%) leads, followed by USDC (22.6%).
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New Supply: 1.688 Billion newly issued this week (100% USDC), signaling continued institutional or compliant capital entry despite secondary market weakness.
On-Chain Ecosystem Performance
DeFi Overview
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Total TVL: $105.9 Billion (down 9.6%).
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Distribution by Chain: Ethereum (56.45%), Solana (7.95%), BNB Chain (5.7%).
Layer 1 Activity
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Solana: Strongest resilience; DEX volume rose 49.4% ($4.71B), and TVL increased by 6.9% against the market trend.
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Ethereum: Surge in activity; DEX volume jumped 192.7%, and daily active addresses grew by 78%.
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Aptos: Explosive growth in daily active addresses, up 63.3% (reaching 1.56M), though TVL dropped 14.3%.
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Sui/TON: Experienced significant pullbacks in both TVL and user activity.
Layer 2 Dynamics
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Total TVL: $33.68 Billion (down 8.1%).
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The Top Two: Base (36.26%) remains at the top spot, maintaining its lead over Arbitrum (34.81%).
Key Projects & Industry Updates
New Projects to Watch
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Polaris: A self-scaling stablecoin OS for DeFi, focusing on sustainable yield generation.
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Probable: A native prediction market protocol on BNB Chain (backed by YZi Labs).
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SectorOne: A native high-performance DEX within the MegaETH ecosystem, specializing in dynamic liquidity.
Key Event Reminders
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Feb 2: ZAMA Pre-TGE subscription begins; Rainbow Wallet launches CCA auction on Uniswap.
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Feb 3 - Feb 7: Flying Tulip (founded by Andre Cronje) starts a $200M public sale on CoinList.
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Feb 3: Usual Protocol’s USUALx unstaking window closes and processes requests.
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Feb 9: MegaETH Public Mainnet Launch, introducing a KPI-linked token release mechanism.
References
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