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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.
- 03:12NFT total market cap surpasses $6 billion, Moonbirds floor price jumps over 30% in 24 hoursOdaily Planet Daily News: Market data shows that the total market capitalization of NFTs has risen above $6 billion, currently reaching approximately $6.04 billion, with a 24-hour increase of 17.2%. Floor prices for several Ethereum-based NFT collections have increased, including:CryptoPunks floor price reached 46.74 ETH, up 14% in 24 hours;Pudgy Penguins floor price reached 14.78 ETH, up 2.7% in 24 hours;BAYC floor price reached 11.77 ETH, up 6.9% in 24 hours;Moonbirds floor price reached 1.84 ETH, up 31.1% in 24 hours;Azuki floor price reached 2.08 ETH, up 9.2% in 24 hours.
- 03:08Project Hunt: Web3 Gaming Guild YGG Is the Most Unfollowed Project by Top Figures in the Past 7 DaysAccording to ChainCatcher, data tracked by the Web3 asset data platform RootData X shows that over the past 7 days, the Web3 gaming guild YGG has attracted the most new followers among top X (Twitter) influencers. Notable new influential followers of this project include Professor Suo (@hellosuoha). In addition, Brahma is among the projects that have lost the most followers from top X influencers.
- 03:03BofA Merrill Lynch: Stablecoins Will Have a Disruptive Impact on Traditional Bank Deposits and Payment SystemsOdaily Planet Daily – According to a recent research report by Bank of America Merrill Lynch, as the United States paves the regulatory path for stablecoin issuance, this digital asset is expected to have a clear and disruptive impact on the traditional banking deposit base and payment systems within the next two to three years. The report emphasizes that the real transformation will become apparent in the medium term. As stablecoins become more integrated and widespread, their impact on the existing financial system will become increasingly evident, and banks will face direct competition from digital currencies. With the initial regulatory framework for stablecoins taking shape in the US, the banking industry now stands at a crossroads between proactive deployment and cautious observation.The US banking sector is ready to embrace the era of stablecoins. Judging from comments by senior management at major banks, the industry is actively preparing to offer stablecoin solutions. However, when it comes to specific use cases—especially domestic payment scenarios in the US—bankers remain cautious, and even skeptical. (Phoenix News)