According to CoinDesk, Solana's SIMD-0228 proposal may lead to a significant decrease in SOL's inflation rate, and as of press time, the proposal has received support from 37.8% of network validators. According to data from Dune Analytics, 746 validators (equivalent to nearly 58% of the total 1334 active validators) have voted on the proposal. 37.8% of people voted in favor of the proposal, 18.5% opposed it, and 1.2% abstained. Overall, as of the time of writing this article, the proposal appears to be on the verge of failure. The voting will end on the 755th Epoch, scheduled to be reached in approximately 11 hours.
The proposal advocates a market-based token issuance mechanism to ensure that the network does not pay excessive fees for security, and is expected to have a positive impact on Solana based decentralized finance and promote liquidity in the on chain SOL market. According to some estimates, this proposal may reduce SOL's inflation rate from 4.5% to approximately 0.87%, a decrease of 80%.
Tagus Capital expects this to have a positive impact on the price of SOL. The company stated in Thursday's communication, "If approved, it will significantly reduce staking rewards and new SOL supply, which may enhance its value. However, lower rewards may force smaller validators to exit, raising concerns about network decentralization. Nevertheless, lower rewards may force smaller validators to exit, raising concerns about network decentralization
According to CoinDesk, due to concerns that US President Donald Trump's tariffs on Mexico, Canada, and other countries will suppress international trade, investors' demand for increased venture capital has decreased, resulting in a significant decline in cryptocurrency trading volume in February. The total volume of spot and derivative trading on centralized exchanges decreased by 21% to $7.2 trillion, the lowest level since October last year. In centralized exchanges, Binance maintains its position as the largest spot trading platform with a market share of 27%. Next are Crypto.com (8.1%) and Bybit (7.4%), with Coinbase (COIN) and MEXC Global ranking in the top five.
Derivatives trading has also experienced a significant decline, with the largest institutional cryptocurrency trading platform CME recording its first decline in trading volume in five months. CME's trading volume decreased by 20% to $229 billion, Bitcoin futures activity decreased by 20% to $175 billion, and Ethereum futures decreased by 13% to $35.9 billion. The decline in trading volume coincided with the decrease in BTC CME annualized basis, which dropped to 4.08%, the lowest level since March 2023. Nevertheless, CME's market share in derivative exchanges has grown to a record high of 4.67%. This growth indicates that although retail trading activity has been weakening, Robinhood (HOOD) recently reported a 29% decrease in cryptocurrency trading volume in February, but institutional interest in the industry still exists.
In addition, the total open interest contract volume of all trading pairs on the centralized exchange decreased by 30% to $78.8 billion, the lowest level since November 5th, reflecting the severe liquidation suffered during the recent downturn.
The current price of HTX-BTC is $83084.90, with a decrease of 1.17% in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 1 hour was 10.38 million US dollars, with the main liquidation being short orders and BTC liquidation being 3.68 million US dollars (35.50%). The data is for reference only.
