GT 24H Up 5.00%, current price 6.92 USDT

POWER (Power Protocol) increased by 33.67% in the past 24 hours

Gate News Bot Message, February 26 — According to CoinMarketCap data, at the time of press, POWER (Power Protocol) is trading at $0.99, up 33.67% in the past 24 hours. The price reached a high of $1.19 and a low of $0.35. The current market capitalization is approximately $210 million, an increase of $52.9 million from yesterday. ## Recent Important News about POWER: 1️⃣ **Institutional Capital Continues to Flow In, Driving Valuation Up** Bitkraft recently completed a $3 million investment in Power Protocol. The entry of institutional investors provides strong financial backing and market confidence for the project. Such large-scale institutional funding typically indicates recognition of the project's long-term value and attracts more market participants to pay attention to this token.

Influenced by Musk's tweet, the veteran Meme coin gork surged over 520% intraday

Influenced by Elon Musk's post "Gork returns today," the Solana ecosystem meme coin Gork's market capitalization soared to $14 million in the short term, a 520% increase. The coin originates from the parody account Gork, and investors should be aware of its high volatility and investment risks.

PI (Pi) increased by 4.01% in the last 24 hours

Gate News Bot Message, February 26th, according to CoinMarketCap data, as of press time, PI (Pi) is trading at $0.17, up 4.01% in the past 24 hours, with a high of $0.18 and a low of $0.16. The current market capitalization is approximately $1.585 billion, an increase of $61.1 million compared to yesterday. Pi Network is the first digital currency that can be mined on a mobile phone, utilizing breakthrough technology to enable energy-efficient mining on mobile devices. The project adopts a decentralized design, offering a secure, tamper-proof, and interoperable digital currency; it also features a mobile-first approach, supporting mining on phones without draining the battery. The project emphasizes user-friendliness and environmental sustainability, allowing scalable and secure operation without high electricity consumption. Users can start mining for free by downloading the Pi app, requiring only existing network members.

Ethereum surpasses $2000, whales buy over $50 million worth of ETH

Ethereum (ETH) has recently increased by approximately 8%, with several large whale addresses collectively adding over $50 million worth of ETH, indicating active capital replenishment. Additionally, the Coinbase Premium Index turning positive suggests a rebound in demand from US institutional investors, while Ethereum's MVRV ratio has improved from "severely undervalued" to "mildly undervalued." These indicators all signal a rebound in the Ethereum market.

Bitcoin hits $70,000 resistance and pulls back, while altcoins collectively surge, signaling a strong rotation.

Bitcoin has recently failed to break through $70,000, falling back to $68,300, with short-term high-level fluctuations. In contrast, various altcoins are performing strongly, with capital flowing into high-risk assets. The market still faces macroeconomic pressures, liquidity recovery is slow, and there is a risk of further pullbacks, reflecting a divergence between short-term rebounds and medium-term corrections.

Due to today's altcoin rebound strength surpassing BTC, the large whale betting 50 million on BTC, which was more resistant to decline than altcoins, experienced losses in both directions.

A whale holds approximately $24.8 million in BTC long positions and $26.4 million in altcoin short positions, currently with an overall loss of over $600,000. According to its hedging strategy, the whale is attempting to protect its assets during a market downturn, but recent market recovery has led to increased losses, especially as altcoins rebounded much faster than BTC, increasing the risk.