Goldman Sachs Discloses $23.6 Billion Crypto Exposure, Including BTC, ETH, XRP, and SOL

As of February 11, Robinhood has announced via official sources that its developer-focused Robinhood Chain testnet is now live, enabling builders to construct infrastructure on the network. Robinhood Chain is reportedly a finance-grade Ethereum Layer 2 network built on Arbitrum, engineered to support real-world assets. Per the announcement, the initiative aims to speed up the growth of on-chain financial services—kicking off with tokenized real-world assets and digital assets. Developers can now build on Robinhood Chain’s core infrastructure and test use cases ahead of the mainnet launch.

February 11th — Bitget market data shows U.S. equities closed Tuesday’s session with mixed early moves: the Dow Jones Industrial Average (Dow) was up 0.1% initially, while the S&P 500 fell 0.3% and the Nasdaq Composite dropped 0.59%. Cryptocurrency-related stocks were broadly lower, with the following notable moves: - Coinbase (COIN): Down 2.83% - Circle (CRCL): Down 0.58% - MicroStrategy (MSTR): Down 3.93% - Gemini (GEMI): Down 7.72% - Bit Digital (BTBT): Down 3.87% - Strategic Elements (BMNR): Down 6.99% - SharpLink Gaming (SBET): Down 6.47% - ETHZilla (ETHZ): Down 7% - ALT5 Sigma (ALTS): Down 6.21% - American Bitcoin (ABTC): Down 4.76% - Kindly MD (NAKA): Down 4.91% - Solana Co (HSDT): Down 6.64%

On February 11th, Hyperliquid’s HIP-3 permissionless perpetual contract market reported a daily trading volume of $5.2 billion on February 5th—its highest single-day record since the protocol launched in October 2025. As the leading market maker on HIP-3, TradeXYZ holds nearly 90% of total trading volume via its perpetual contracts across precious metals, stock indices, and individual stocks. TradeXYZ’s silver perpetual contract alone generated $4.09 billion in volume on February 5th, accounting for roughly 68% of that day’s total HIP-3 activity. This surge is tied to the commodity’s price volatility, which has drawn traders seeking alternatives to crypto assets.

JPMorgan analyst Ken Worthington cut his Coinbase price target to $290 from $399 on Feb. 11, ahead of the crypto exchange’s Q4 earnings report due this Thursday. Worthington noted he’s still bullish on the stock— the revised target implies 75% upside from Coinbase’s current $165.5 share price. He forecasts adjusted EBITDA of $7.34 billion, down from Q3’s $8.01 billion, marking a sharp sequential decline driven by lower trading volume, softer crypto prices, and slower USDC stablecoin balance growth. Worthington projects Q4 spot crypto trading volume at $2.63 trillion. He also flagged a drop in circulating USDC and sees stablecoin-related revenue at $3.12 billion. Those headwinds are partially offset by revenue from Deribit— the crypto derivatives exchange Coinbase acquired last August— which contributed to full-quarter results. Including Deribit, JPMorgan’s model forecasts total trading revenue of $10.6 billion— with Deribit contributing ~$1.17 billion from an estimated $586 bi

On February 11, CryptoOnchain said in a social media post that Ethereum’s (ETH) 14-day moving average of token transfers spiked sharply to 2.75 million when ETH prices dipped into the $2,000 range—hitting the highest level since August 2025. This surge signals panic selling and a washout of weak hands. Historical data shows such extreme activity often indicates seller exhaustion and could potentially form a local bottom. Token Transfers (14-day moving average) is an on-chain metric used to track the trend and intensity of token transfer activity on the Ethereum (or relevant blockchain) network. It typically refers to the simple moving average of total transfer transactions for ERC-20 and other standard tokens on the network over the past 14 days.