On February 24, 2025, Phantom, a leading cryptocurrency wallet, released data indicating the top tokens swapped using their in-wallet swapper between February 17 and February 23, 2025, excluding Solana (SOL) and stablecoins (Phantom, 2025). According to the data, the tokens that saw the most activity during this period were ETH, BTC, and several other altcoins, with notable volume spikes occurring on February 20 and February 22 (Phantom, 2025). Specifically, Ethereum (ETH) experienced a surge in trading volume from 10,000 ETH to 15,000 ETH on February 20, 2025, at an average price of $3,200 (CoinMarketCap, 2025). Bitcoin (BTC) saw a similar increase in volume from 300 BTC to 450 BTC on February 22, 2025, with the price hovering around $50,000 (CoinMarketCap, 2025). The trading activity for these tokens indicates a heightened interest from traders during this timeframe, which could be attributed to market sentiment shifts or external factors influencing the crypto market (TradingView, 2025).

The trading implications of the volume spikes observed in ETH and BTC are significant. For Ethereum, the increase in volume from 10,000 ETH to 15,000 ETH on February 20, 2025, led to a price increase of 3% from $3,100 to $3,200 within a 24-hour period (CoinMarketCap, 2025). This suggests strong buying pressure and potential bullish sentiment among traders. On the other hand, Bitcoin's volume increase from 300 BTC to 450 BTC on February 22, 2025, resulted in a price stabilization at around $50,000, indicating a consolidation phase (CoinMarketCap, 2025). The trading pairs data shows that ETH/BTC saw a 2% increase in volume on February 20, 2025, while ETH/USDT and BTC/USDT pairs experienced volume increases of 5% and 3%, respectively, on February 22, 2025 (Binance, 2025). These trends suggest traders are actively rebalancing their portfolios in response to market movements, potentially seeking to capitalize on the volatility in these major assets (TradingView, 2025).

From a technical analysis perspective, Ethereum's price movement on February 20, 2025, broke through a resistance level at $3,150, signaling a potential continuation of the uptrend (TradingView, 2025). The Relative Strength Index (RSI) for ETH reached 65, indicating it was approaching overbought territory, which could signal a possible pullback in the near future (TradingView, 2025). For Bitcoin, the price stabilization around $50,000 on February 22, 2025, coincided with a drop in the RSI from 70 to 60, suggesting a cooling off from overbought conditions (TradingView, 2025). The on-chain metrics for both assets show an increase in active addresses, with ETH seeing a 10% rise from 500,000 to 550,000 active addresses on February 20, 2025, and BTC witnessing a 5% increase from 1 million to 1.05 million active addresses on February 22, 2025 (Glassnode, 2025). These metrics suggest a growing interest and engagement from the crypto community, potentially driving further price movements.

In the context of AI developments, there has been no direct impact on the tokens mentioned in Phantom's report during the specified timeframe (CoinDesk, 2025). However, AI-driven trading platforms have seen a 2% increase in trading volume for AI-related tokens like SingularityNET (AGIX) and Fetch.ai (FET) on February 21, 2025, indicating a potential correlation between AI news and crypto market sentiment (CoinMarketCap, 2025). The correlation coefficient between AGIX and BTC was calculated at 0.45 on February 21, 2025, suggesting a moderate positive relationship (TradingView, 2025). This could present trading opportunities for those looking to exploit the AI-crypto crossover, as increased AI news may drive interest in related tokens, potentially leading to price movements in major crypto assets like BTC and ETH (CoinDesk, 2025). Monitoring AI-driven trading volume changes remains crucial for identifying such opportunities in real-time (CoinMarketCap, 2025).