Binance Alpha: Piggycell (PIGGY) Airdrop Threshold 250 Points

On February 8, Bitwise advisor Jeff Park shared a retrospective on the recent market crash. First, Park clarified that a circulating claim—**“Nasdaq has removed IBIT options position limits, granting Wall Street unlimited leverage”**—is false. Both BlackRock’s IBIT and BITB have long maintained a standard position limit of 250,000 shares. The SEC’s corresponding filings only increased position limits for spot ETFs like FBTC and ARKB to 250,000 shares—matching IBIT and BITB’s limits—to ensure fair market competition. Last November, BlackRock’s IBIT sought to raise its limit from 250,000 to 1 million shares, but the application was rejected. On the crash’s cause, Park noted it was more likely spurred by risk unwinding in the traditional financial system and derivatives mechanics—**not** a fundamental shift in crypto or a single “black swan” event. That day, Bitcoin ETFs (especially IBIT) hit record trading volumes and options activity, with bearish trades clearly dominating options

February 8: Coinbase CEO Brian Armstrong said the cryptocurrency market has seen major volatility in recent days—but that’s nothing new. Crypto has weathered many market cycles, he noted. For him, this doesn’t change his stance: he can’t think of a single reason to not be bullish on crypto long-term. It’s rapidly disrupting the financial services industry, he added, and our financial system needs an upgrade.

On Feb. 8, per Onchain Lens monitoring, a new wallet linked to BitMine—the first Ethereum holding institution—has withdrawn 20,000 ETH from Kraken, totaling $41.67 million.

February 8th: Sushi General Manager Alex announced that SushiSwap has partnered with Jupiter to integrate with the Solana blockchain. The integration supports on-chain transactions on Solana and cross-chain swaps between Solana and EVM networks, allowing users to trade meme coins, tokenized stocks, RWA assets, and more via SushiSwap on Solana. It will officially launch on February 9th.

Per LookOnChain monitoring on February 8, a new address “39B2BNj” withdrew 1,546 BTC from Binance this morning—valued at approximately $106.68 million.

On February 8, abnormal volatility was spotted in 1-minute charts for Bitcoin and ETH spot trading on Binance, with single-minute swings hitting over 1% and even 3% between 00:05 and 00:17. Some analysts link the move to a malfunction in market makers’ grid trading strategies.