Bitcoin Surges Above $68,000

February 20 — Official sources confirm Binance Alpha will host an airdrop today at 6:00 PM UTC+8. Users with at least 251 Alpha points qualify for tokens on a first-come, first-served basis; distribution will wrap up once the airdrop pool is exhausted or the event concludes. Additional details will be released shortly.

**Hong Kong SFC Warns Public of "HOMEO Trend" Token as Suspicious Investment** On February 20, the Hong Kong Securities and Futures Commission (SFC) issued a warning to the public about the "HOMEO Trend" token—a digital asset-related investment product now added to its list of suspicious offerings. Operated and promoted by Excellent Trend Therapy (Hong Kong), the token is suspected of being offered to Hong Kong investors. Information about the product has been distributed via local seminars, with claims it will deliver investment returns. The SFC stressed the product has not been authorized for public offering in Hong Kong. Non-authorized products and their disclosure documents are not reviewed by the Commission. Investors are urged to exercise extreme caution, as such investments may lead to significant or total losses.

On February 20, Coinglass data showed Bitcoin remained in a range-bound trend. Currently, funding rates across major centralized (CEX) and decentralized (DEX) exchanges point to a market-wide bearish sentiment, with specific rates detailed in the attached image. **BlockBeats Note**: Funding rates are fees set by crypto exchanges to keep contract prices aligned with their underlying assets—typically applied to perpetual contracts. This mechanism facilitates fund transfers between long and short traders; exchanges do not collect these fees. Its goal is to adjust the costs or profits of traders holding positions, ensuring contract prices stay close to the underlying asset’s price. **Funding Rate Benchmarks**: - 0.01% = baseline rate - Above 0.01% = generally bullish market - Below 0.005% = generally bearish market

On February 20, Farside monitoring data shows that the U.S. Ethereum spot ETF recorded a net outflow of $130.1 million yesterday, while the Solana ETF had a net inflow of $6 million.

As of February 20th, GMGN market data shows Solana ecosystem meme coin Punch has surged over 2x in a single day. Its current market capitalization stands at $31.07 million, with 24-hour trading volume exceeding $24.10 million. Data indicates the token’s top address has a total position opening of $10,700 (with an average entry market value of $87,800) and now holds a profit of $1.1 million on the token. Public information reveals Punch is inspired by a viral monkey at Japan’s Ichikawa City Zoo, and the token has been listed on Moonshot. BlockBeats reminds users that meme coin trading is highly volatile, largely driven by market sentiment and speculative hype, with no actual inherent value or use case. Investors should exercise caution and be aware of the risks.