In February, the cryptocurrency market remained weak, with significant outflows from Bitcoin ETFs. Solana led all blockchains with over 100 million daily transactions, while Ethereum's unique active addresses reached 13.34 million. Trading volume on perpetual decentralized exchanges (DEXs) surged to $47.3 billion, primarily driven by Hyperliquid's HIP-3 proposal. The Web3 space completed 46 funding rounds, totaling $986 million, with the top ten exchanges raising $793 million, including three large rounds led by Tether. Security incidents decreased month-over-month, but smart contract vulnerabilities remained a major risk.