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Bitcoin Bearish Sentiment - The decline in BTC's price is correlating with a noted climb in bearish sentiment across the market.
U.S. bitcoin ETF - U.S. Bitcoin ETFs saw a net outflow of $1.22 billion in the four days ending Thursday, marking the largest weekly withdrawal since November 2025.
Coinbase lends UDSC - Coinbase launched a feature allowing eligible U.S. customers (excluding New York) to borrow up to $1 million in USDC using cbETH (tokenized staked ether) as collateral.
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Messari's protocol reports give you a deep dive on the foundation and state of top crypto protocols, including key metrics and notable events. See the complete list of protocol reports here and get a preview of our latest report below.
Fluid has scaled into a top-tier DeFi protocol, reaching $5.10 billion in total market size across chains, including $1.6 billion via Jupiter Lend on Solana, firmly placing it among the largest crosschain lending platforms.
Fluid ranks 3rd in active loans when accounting for Jupiter Lend, with $2.12 billion borrowed, signaling strong product-market fit and sustained borrowing demand rather than passive deposits driven by incentives.
Fluid DEX finished 2025 as the second-largest DEX on Ethereum by trading volume, processing $156.45 billion in volume during the year, validating its Smart Collateral and Smart Debt model as a scalable alternative to traditional AMMs.
The introduction of the Fluid Reserve in October 2025 marked a transition toward long-term sustainability, with protocol revenue funding onchain FLUID buybacks to support governance, alignment, and resilience as the protocol matures.
The upcoming launch of Fluid DEX V2 represents a structural evolution from a single DEX into a general-purpose liquidity engine, enabling multiple AMM designs, range-based strategies, and permissionless expansion without fragmenting liquidity.
Wormhole connects over 40 blockchains and has processed more than $70 billion in cumulative cross-chain volume and one billion cross-chain messages, making it one of the most widely used interoperability protocols in crypto.
Wormhole’s NTT (Native Token Transfers) standard aims to replace fragmented wrapped assets with canonical multichain representations, consolidating liquidity, preserving issuer control, and simplifying risk management.
NTT is already in production across multiple deployments, including Ripple’s RLUSD rollout, Dogecoin’s canonical DOGE implementation, M0’s multichain M token, and Monad’s native bridge.
Wormhole Portal has evolved from a standalone bridge interface into a multichain gateway, integrating cross-chain swaps via Mayan.
Institutional adoption spans tokenization and real-world asset platforms (e.g., BlackRock, Ripple, Apollo, Hamilton Lane, Mercado Bitcoin, Centrifuge, Securitize), which use Wormhole for cross-chain distribution of tokenized funds, tokenized private credit, and stablecoins.
Bitget’s Universal Exchange (UEX) model combines centralized efficiency, decentralized accessibility, and traditional financial product offerings into a unified trading experience for retail and institutional participants. The UEX model comprises the core centralized exchange, Bitget Onchain, Bitget Wallet, Morph, and GetAgent.
Tokenized stocks are emerging as a high-growth vertical in the Bitget ecosystem. Since launching in July, a total of $17.1 billion in tokenized stock futures volume has been generated.
Bitget Onchain is the primary mechanism for integrating multichain access into the platform. Launched in April 2025, it enables users to trade onchain assets using CEX balances across multiple networks, generating over $2.4 billion in cumulative volume.
GetAgent is the platform’s AI assistant, designed to simplify the user experience as product coverage expands. Beyond market insights and guided execution, GetAgent has been used as a distribution channel for engagement campaigns.
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