GuShiio.com The Ethereum MVRV indicator hit 1.01, a record low since October 2023.
Author: Shenchao TechFlow
yesterdaymarket dynamics
US Commerce Secretary: Trump may announce Bitcoin strategic reserves at White House Crypto Summit
According to The Pavlovic Today, U.S. Commerce Secretary Howard Lutnick revealed that President Trump will announce the Bitcoin Strategic Reserve Plan at the first White House Cryptocurrency Summit on Friday, marking a major shift in U.S. crypto policy. Lutnick said in an interview: The president does believe that a strategic reserve of Bitcoin should be established. Regarding how to deal with other cryptocurrencies, I think the model will be announced on Friday. rdquo;
Lutnick further explained that Bitcoin will gain a unique status in the Trump plan, while other crypto tokens will receive positive but different treatment. Trump previously issued a post on the Truth Social platform saying: U.S. crypto reserves will enhance this key industry. My executive order on digital assets has instructed the President’s working group to promote crypto strategic reserves that include XRP, SOL and ADA. I will make sure that America becomes the encryption capital of the world.& rdquo;
Bitwise CIO: The market misjudged Trump’s crypto reserve plan. Despite its flaws, it is still good news overall
According to The Block, Matt Hougan, chief investment officer of Bitwise, said that the market’s reaction to Trump’s crypto reserve plan has been overinterpreted. Although the plan is flawed, it is still good news overall. After Trump announced on Sunday that he instructed the working group to advance the U.S. crypto strategic reserve plan, including BTC, ETH, XRP, SOL and ADA, these assets rose by 10%, 15%, 25%, 30% and 70%, respectively, from last week’s lows, but then Bitcoin fell more than 10%, and Ethereum plunged more than 15%.
Hougan pointed out in a report to clients on Tuesday that the market has reservations about the plan mainly because the reserve contains crypto assets other than Bitcoin, especially speculative assets such as Cardano, which feels more like a political consideration than a strategic choice. He emphasized that the market ignored three key factors: First, Trump’s negotiating style meant that the original proposal would not be the final version; second, the U.S. move could trigger a global Bitcoin accumulation competition; and finally, once purchased, these crypto assets are likely to be held for a long time and will not be sold.
Bitwise CEO Hunter Horsley, Coinbase CEO Brian Armstrong and Gemini founder Winklevoss share the same view that pure Bitcoin reserves are the best option. Hougan expects that the Trump administration will eventually move forward with some form of reserve plan. The U.S. government’s announcement that crypto assets are of strategic significance is a plus in itself, and I think the market will eventually realize this.” rdquo;
IntoTheBlock: Ethereum MVRV indicator hits 1.01, hitting a new low since October 2023
According to IntoTheBlock data, Ethereum’s market capital-to-realized value ratio (MVRV) hit 1.01 yesterday, the lowest level since October 2023, when Ethereum was trading just below $1600.
IntoTheBlock analysis points out that the MVRV indicator helps identify market tops and bottoms. A ratio of around 1.01 has marked a local bottom in the past, but such a low level is rarely seen in bull markets. Typically, the MVRV indicator falls to this level most often during bear markets and may even fall below 0.70 at deeper cyclical lows.
INItia’s official X account posted March.& rdquo;, or hints that it will be in March TGE
INItia’s official X account posted March.& rdquo;, or hint that TGE will be held in March.
Initia is a network for full-chain Rollup built by the integration of L1 and application-specific L2 infrastructure systems. The Inititia platform provides product-level scale-up layer solutions that allow teams to build scalable and sovereign systems while eliminating the user experience complexities that end users face when interacting with a modular multi-chain universe.
Elixir launches airdrop qualification check website and publishes token economics, 41% will be distributed to the community
According to official sources, Elixir has launched the ELX airdrop qualification inspection website. The official release of token economics simultaneously, and the specific allocation plan is as follows:
1) 41% community allocation: 8% for airdrops in the first quarter, 21% for future airdrops and LP incentives, and 12% for public network security rewards. All ununlocked tokens cannot participate in the pledge.
2) The foundation allocates 22%: for future ecological donations and rewards.
3) Liquidity allocation of 3%: This is the share reserved for market makers and other LPs in CEX and DEX.
4) Early investors allocate 15%.
5) 19% allocation to core contributors.
Established in 2022, Elixir is a modular DPoS liquidity network that allows anyone to provide liquidity directly to order books, bring liquidity to long-tail crypto assets, and allow exchanges and protocols to guide liquidity in their ledgers.
RedStone launches the Miner Airdrop Query Page and will be open for collection on March 6
According to the official blog, the DeFi oracle RedStone has launched an airdrop query page, where users can go to verify their qualifications. Airdrop collection will be open at 20:00 on March 6.
The Miner Airdrop program aims to reward active members of the RedStone ecosystem and community in the long term. According to the official introduction, 10% of the total number of RED tokens will be used for community and creation projects, including rewarding participants in the RedStone Expedition. The airdrop reward policy is mainly based on user participation, community leadership and on-chain activities, with a focus on users ‘real contribution to the Discord community and participation in special activities.
RedStone took a snapshot of the RedStone Gem (RSG) balance and roles on March 3. In order to prevent witch attacks and non-real participation, the project implements a special anti-witch detection mechanism and minimum character value requirements. RED token holders can pledge through EigenPie or EigenLayer and receive RED and EIGEN token rewards.
United States February ADP Employment is 77,000, the smallest increase since July 2024
According to Jin Shi, the number of ADP jobs in the United States in February was 77,000, the smallest increase since July 2024. The expected number is 140,000, with the previous value of 183,000.
Moody’s chief economist: Trump tariffs may cause the U.S. economy to stagflation, and the Federal Reserve may raise interest rates
According to reports from Kim Chao, U.S. President Trump launched an action to impose tariffs on Canada and Mexico. Moody’s chief economist Mark Zandi believes that the U.S. economy may fall into stagflation. Recent data reflects that U.S. consumers and business circles are already worried about the economic outlook and reducing spending. The effect will lead to a significant slowdown in the economy. The tariff effect will cause high inflation, so the U.S. economy may fall into stagflation. If true, it will be the first time in 50 years that the United States has fallen into stagflation.
The Atlanta Fed’s GDPNow model shows that the U.S. economy may contract by 2.8% in the first quarter. If true, it will be the first contraction since the first quarter of 2022. Faced with stagflation, the Federal Reserve may raise interest rates, just as former Federal Reserve Chairman Volcker raised interest rates aggressively in the early 1980s to sacrifice the economy to curb inflation.
Ripple CTO Statement that the company will put its own interests first, implying that it has the right to sell XRP to raise working capital
According to Cointelegraph, Ripple’s chief technology officer David Joel Katz Schwartz recently stated on social media that Ripple can, will and should put its own interests first. Investors should not expect Ripple to benefit investors in a way that harms the interests of the company and its shareholders.& rdquo; The suggestion that Ripple has the right to sell XRP tokens to raise working capital has raised concerns among cryptocurrency investors.
The comments were in response to criticism by Pierre Rochard, vice president of research at Riot Platforms, who warned that investors were not investing in Ripple, but simply receiving tokens created out of thin air. XRP is not a security because Ripple doesn’t actually owe you utility or anything else. rdquo;
VanEck Research Director: Solana’s new proposal is expected to reduce SOL’s annual selling pressure by $677 million to $1.1 billion
Matthew Sigel, director of digital assets research at VanEck, wrote an analysis that the combined effect of Solana’s two proposals, SIMD096 and SIMD0228, is expected to reduce SOL’s annual selling pressure by $677 million to $1.1 billion. Sigel pointed out that while SIMD096 has increased tax-related selling pressure by eliminating the 50% priority fee destruction mechanism, the impact of SIMD0228 is expected to fully offset this negative effect.
Previously, Solana’s SIMD 0228 proposal has been open for discussion and a community vote is expected in about 10 days. The proposal aims to shift SOL token issuance to a market-driven model, setting a target pledge rate of 50% to enhance network security and decentralization.
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