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Share link:In this post: A Franklin Templeton report suggested that Solana threatened Ethereum due to its growing influence. Solana’s DEX volumes surpassed the Ethereum ecosystem in January, highlighting a potential market shift. According to the report, the shift to activity to the layer two blockchain shows the Ethereum scaling approach was working.
Bitcoin is currently consolidating within a symmetrical triangle formation, with converging trendlines indicating a period of consolidation preceding an expected breakout soon. Technical analysis identifies key support near $86,000-$88,000 and resistance between $92,000 and $94,000, while traders monitor volume for confirmation in upcoming sessions. A recent sharp drop followed by a strong recovery formed the triangle pattern, setting the stage for a potential 20% price movement.
TRUMP surged 8.43% to $15.02, breaking a descending wedge and indicating strong buying momentum. RSI stands at 59.20 points indicating mild upward strength although MACD signals possible market consolidation or a correction phase may occur. TRUMP can drive its price towards $18.00 and beyond if support stays above $13.44 despite market volatility.
Quick Take Late Thursday, President Trump signed an executive order to establish a U.S. Strategic Bitcoin Reserve, capitalized by the approximate 200,000 BTC ($18 billion) already owned by the federal government, forfeited as part of criminal or civil proceedings. Standard Chartered Global Head of Digital Assets Research Geoff Kendrick suggested one option for funding the U.S. Strategic Bitcoin Reserve in a budget-neutral way would be to sell part of its $760 billion gold reserves.
Quick Take Trump signed an executive order to create a strategic bitcoin reserve and digital asset stockpile the day before the summit. Big crypto industry players, including Coinbase CEO Brian Armstrong, Kraken co-CEO Arjun Sethi and lawmakers such as House Majority Whip Tom Emmer, R-Minn, among others, attended the summit.
- 2025/03/12 23:58The support rate for the Solana SIMD-228 proposal currently stands at 35.7%, with an opposition rate of 17.2%News on March 13, according to on-chain data, the current support rate for Solana's SIMD-0228 proposal has reached 35.7%, with an opposition rate of 17.2% and an abstention rate of 1.2%. If the proposal is passed, it will be gradually implemented within 50 epochs, aiming to significantly reduce inflation (possibly by 70%-80%, for example from 4.5% down to a minimum of about 0.87%). The proposal suggests major adjustments to the token issuance model of the Solana blockchain. Specifically, it hopes to change SOL token's inflation mode from its current fixed rate to a dynamic market mechanism linked with staking participation rates. The aim is to optimize Solana's monetary policy by dynamically adjusting inflation rates based on SOL's staking ratio, thereby enhancing network economy flexibility and efficiency.
- 2025/03/12 23:41Overview of Key Overnight Developments on March 131. CBOE submits Solana ETF application for Franklin; 2. US SEC confirms receipt of Fidelity's Ethereum ETF staking proposal application; 3. US SEC confirms receipt of Franklin's Ethereum ETF staking proposal application; 4. US SEC delays approval of Fidelity's spot Ethereum ETF options trading again; 5. Fox reporter: US SEC's lawsuit against Ripple is in the final stages; 6. Massachusetts lawmakers propose the establishment of a special committee on blockchain and cryptocurrency; 7. BlockTower's venture capital division splits into Strobe Ventures and plans to raise $100 million.
- 2025/03/12 23:40AML Bitcoin founder convicted of fraud, could face decades in prisonNews on March 13, the San Francisco Federal Court jury of 12 ruled today that Marcus Rowland Andrade, the founder of Anti-Money Laundering Bitcoin (AML Bitcoin), orchestrated a "pump and dump" scam involving millions of dollars in 2017. He was found guilty of federal wire fraud and money laundering charges and could face decades in prison. Andrade is a businessman from Texas who once worked with well-known lobbyist Jack Abramoff to promote AML Bitcoin as a "safe and reliable" payment system.