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As Solana (SOL) Skyrockets to $180: Is $223 Target in Sight?

Solana (SOL) price shoots overnight with the news of the U.S. Crypto Reserve to hit $180. Will the hype drive the SOL prices beyond $200?

Along with XRP, Cardano, Bitcoin, and Ethereum, Solana is one of the altcoins Donald Trump has chosen as a part of the U.S. Crypto Reserve. This decision has led to a bullish spike in Cardano and Solana, reaching a $180 peak. 

However, the intraday pullback drops the SOL market price to $161 as a potential retest. Will Solana prolong the overnight recovery to reclaim the $200 psychological mark? 

Solana Price Hits 50% Fibonacci Level at $180, Aims $200 Breakout

On the daily chart, the SOL price trend shows bullish support above the $125 level. Solana initiated a bullish reversal after a lower price rejection, fueled by news-driven sentiment.

Solana Price Chart
Solana Price Chart

The overnight recovery in SOL accounted for a 24.47% jump from $143 to $178. The massive bullish engulfing candle saw the price hit the overhead resistance at the 50% Fibonacci level near $180.

However, as bullish exhaustion set in, Solana experienced a sharp 10% pullback. This marked a piercing candle, breaching the 38.20% Fibonacci level at $165.

Nevertheless, a sudden momentum shift has led to a bullish crossover in the MACD and signal line. Moreover, the daily RSI line has moved back toward the neutral zone from the oversold region. These technical indicators suggest increased buying pressure, pointing to a potential continuation of the bullish trend.

Analyst Points Out Channel Breakout, Targets $213

Supporting the chances of a bullish continuation, Ali Martinez, a crypto analyst, highlights a potential price move to $213. As per his tweet, Solana is breaking out of a descending parallel channel. 

Based on the price action levels, the uptrend in Solana is hinted to reach the 38.20% Fibonacci level at $213. Currently, the intraday pullback comes as a potential retest of the falling channel breakout in the 4-hour chart mentioned by Ali Martinez. 

Whales Unstake To Cash Amid Price Recovery

As the Solana price skyrockets, multiple whales are cashing in on Solana. As per the OnChain Lens, 3 million SOL tokens worth $510 million have been deposited to the Binance exchange. 

This transfer comes from a cold wallet of a staking account after nearly two months of dormancy. 

Furthermore, another whale has transferred 48,647 SOL tokens worth nearly $7 million. After unstaking within the past 12 hours, the whale deposited the tokens to Binance for a profit of $1.61 million. 

Bulls Target $213 as Solana Gains Momentum

With the short-term profit booking leading to an intraday pullback of nearly 10%, Solana will likely witness a post-retest reversal as the market stabilizes. Based on the Fibonacci levels, a breakout of the 50% level will likely challenge the 78.60% Fibonacci level at $223. 

On the flip side, the crucial support for Solana remains the $150 psychological mark.

Trump’s Crypto Reserve News Drives Bitcoin Rally to $95K: Will $106K Be Next?

Bitcoin hits $95k and nears a potential trendline breakout for a surge towards the overhead resistance $106k. Is a rally to a new all-time high inevitable?

With U.S. President Donald Trump announcing a U.S. strategic crypto reserve, the crypto market is on a booming rally. Bitcoin surged 9.5% yesterday to bounce from $86,000 to $95,000. 

Currently, with an intraday pullback of 1.60%, Bitcoin is trading at a market value of $92,760. Challenging the local resistance trendline, the bullish recovery in Bitcoin is aiming for a breakout rally. Will this breakout rally drive Bitcoin prices to $127,000? 

Bitcoin Recovery Eyes Trendline Breakout Rally 

The BTC price action showcases a bullish comeback from the 61.80% Fibonacci level with multiple lower price rejections. Bouncing off from the 7-day low at $78,197, the lower price rejection propelled Bitcoin for a V-shaped recovery. 

Bitcoin Price Chart
Bitcoin Price Chart

With the news-based rally, Bitcoin has now reclaimed the $90,000 level, surpassing the 78.60% Fibonacci level at $91,780. Bitcoin is now aiming for a trendline breakout. 

Furthermore, the bullish reversal has brought Bitcoin back within the consolidation range, with the overhead ceiling at $106,184. The intraday pullback reveals a bullish struggle near the resistance trendline. 

However, the Chaikin Money Flow Index has bounced off into the positive territory, standing at 0.13. Furthermore, the super trend indicator has turned bullish with the overnight surge. 

Open Interest Hits $54B, Optimism Surges

With the sudden boost in the crypto market, traders are back in the game. The derivatives data reveals a 6.47% surge in the open interest, rising up to $54.68 billion. 

Bitcoin Derivatives
Bitcoin Derivatives

Furthermore, the long-to-short ratio has equalized at 1.0222, bouncing off from 0.90 levels. This reveals a surge in the number of long positions with the market recovery. 

Meanwhile, the funding rate in Bitcoin exchanges has reached 0.0040%. This reveals the willingness of traders to pay extra premiums to hold long positions. 

Bitcoin ETFs End Eight Days of Outflow 

On February 28, the U.S. Bitcoin spot ETFs recorded a net inflow of $94.34 million. This marked the conclusion of eight consecutive days of outflows. 

Bitcoin ETFs
Bitcoin ETFs

ARK and 21 shares recorded an inflow of $193.70 million, followed by Fidelity at $176.03 million. Grayscale mini-trust and Bitwise recorded inflows of $5.59 million and $4.57 million. 

However, BlackRock maintained an outflow of $244.56 million, followed by Grayscale offloading $33.28 million. VanEck also registered an outflow of $7.72 million. The rest of the five Bitcoin ETFs saw a net zero flow. 

Bitcoin Price Targets

Based on the Fibonacci levels, the current intraday pullback comes as a potential retest of the broken 78.60% level. Hence, the potential bounceback in Bitcoin will likely surpass the overhead trendline.

 The trendline breakout will likely propel Bitcoin towards the overhead ceiling near the $106,000 mark. Optimistically, the breakout of a new all-time high will likely hit the 1.272 Fibonacci level at $127,800. 

However, if Bitcoin closes below $90,000, it could invalidate the bullish recovery and trigger a retest of the $87,000 support level.

Expert Says He Wouldn’t Fade Dogecoin at This Level: Here’s Why

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Recent analysis suggests Dogecoin has shown immense strength around this time of each bull cycle, insinuating a rapid price development for the meme coin.

Dogecoin briefly reclaimed $0.2200 after an impressive 15% surge yesterday. The uptick followed a broader market rebound, although it fell short of price explosions from assets like XRP and Cardano.

For context, the duo surged a staggering 34% and 72% on Sunday following their mention in Donald Trump’s proposed national crypto reserve. Notably, Dogecoin’s omission from the made-in-America biased list sparked a reaction from co-founder Billy Markus, who clarified the meme coin has U.S. roots.

Nonetheless, Dogecoin’s much-needed upsurge has seen it reduce its year-to-date deficit to 30%, a testament to the token’s recent struggles. Nevertheless, an analysis has insinuated the continuation of the fire-power price actions for the meme coin.

Don’t Fade Dogecoin Here: Analyst

Particularly, market expert KALEO has hinted at a sustained upward trajectory for Dogecoin at this stage of the bull run. He asked market participants not to fade the meme coin, as the asset has reached the super-bullish phase in its cyclical performance.

An accompanying 3-day chart further highlighted this bias, expanding on DOGE’s price action after the Bitcoin halving. For perspective, Dogecoin broke out from a price range 84 bars (252 days) after the 2016 Bitcoin halving, surging to its cycle peak of $0.0194 in January 2018.

Dogecoin Price Action Post-Bitcoin Halving/KALEO

Furthermore, the meme coin repeated a similar pattern in 2021, breaking out from an ascending triangle and successfully retesting the break of structure after 86 bars (258 days) from the 2020 Bitcoin halving. Dogecoin rallied from the point to its current all-time high of $0.7605.

Meanwhile, DOGE has displayed the exact price action, breaking from an ascending triangle in November to a high of $0.4846. KALEO pointed out that Dogecoin seems to be on the verge of continuing a bullish upsurge after retesting the triangle in 98 bars (294 days).

If the meme coin sustains the trend and history repeats, it could target an upward push to unprecedented prices. Notably, the analyst did not highlight a specific target for the impending bullish continuation.

Dogecoin Starting Bullish Season?

Moreover, KALEO is not alone in his predictions that Dogecoin will rebound to higher prices. Analyst CryptoELITE, for instance, asserted that Dogecoin would soon resume a big northward move and suggested a scintillating run to $5.

Meanwhile, analysis suggests whales are back on the Dogecoin network. Prominent market watcher Ali Martinez highlighted that whales are back from exile, stacking 140 million DOGE in the past 24 hours.

In the meantime, Dogecoin trades at $0.2177, up 4% in the past 24 hours.

Here’s Why the SEC Case Against Ripple Continues to Linger

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Pro-XRP attorney Jeremy Hogan explains why a settlement in the SEC case against Ripple continues to be delayed despite the regulator’s recent crypto shift.

Over the past few weeks, the Securities and Exchange Commission has made it clear that it intends to roll back its ‘crypto regulation by enforcement campaign’ with quick moves to pause or dismiss ongoing crypto cases.

However, one case has continued to linger amid this shift: the SEC case against Ripple. The question remains: why? One legal expert who has closely followed the case has now offered a probable reason.

Injunction to Blame?

Pro-XRP attorney Jeremy Hogan has attempted to explain why a settlement of the SEC case against Ripple continues to be delayed despite the regulator’s recent crypto shift.

In a lengthy thread on X on Sunday, March 2, Hogan asserted that the likely reason for the delay was the injunction imposed on Ripple by Judge Analisa Torres in her August 2024 court ruling. Specifically, Torres ruled that Ripple was prevented from offering XRP to institutional investors without SEC exemption.

Hogan speculated that Ripple would rather not have this injunction but noted that repealing it would be no easy task, which could see the case, currently in appeal, run until April or May 2025.

The lawyer highlighted the situation’s complexity by noting that the typical method of getting relief from judgments as defined in Rule 60 of the Federal Rules of Civil Procedure may likely not apply to the Ripple case.

Rule 60 allows for relief from a judgment in light of an error or new facts. Hogan notes that while Ripple could cite the SEC’s changing crypto rules as new facts, the ruling was based on the Howey test Supreme Court law, not the SEC’s rules.

Ripple’s Odds

According to Hogan, “Ripple only has one shot” at dissolving the injunction. He explained that the firm could try to bet on the judge’s discretion with “a very carefully worded motion” that must be vetted by the SEC. However, he expects these processes to take time, leading to his April 2025 and May 2025 resolution timelines.

The lawyer pointed out that the assumed support of the SEC is a key factor that could tip the scales in Ripple’s favor.

The SEC sued Ripple in December 2020 alleging that its sales of the crypto asset XRP represented unregistered security offerings.

Shiba Inu Team Envisions SHIB Inclusion in US Digital Asset Reserve

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The Shiba Inu ecosystem team expects the United States government to include SHIB and BONE alongside other established crypto assets in the national digital asset reserve. 

Yesterday, U.S. President Donald Trump provided an update on the highly anticipated digital asset strategic reserve. Contrary to earlier speculation, Trump ordered the creation of a multi-asset reserve featuring established cryptos such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and XRP (XRP). 

Shiba Inu Team Reacts 

Following the order, Lucie, the marketing lead of the Shiba Inu ecosystem, commended the initiative and characterized it as great news for crypto. 

Notably, Lucie expects the U.S. government to extend its benevolence to Shiba Inu ecosystem tokens, particularly SHIB and BONE, hoping for their future inclusion in the digital asset reserve.

For context, the national crypto stockpile will function like other reserves the United States owns. 

It requires the U.S. to acquire a specific amount of the named crypto assets and hold them for a set period. This action confers legitimacy and credibility on the supported cryptocurrencies, potentially driving their value. 

Crypto Czar Says More to Come 

In the meantime, it is unclear whether the United States will include other cryptocurrencies in the reserve digital asset reserve. 

However, David Sacks, White House AI & Crypto Czar, suggested that the Presidential Working Group on Digital Assets will share additional details about the crypto reserve at an upcoming summit, saying ‘more to come.’  

Notably, Trump and the presidential group will address industry stakeholders in an inaugural Crypto Summit on March 7. They will shed more light on the digital asset reserve and possibly reveal whether plans are in progress to expand the list of supported tokens.

Team Pushes for More SHIB Credibility  

Meanwhile, the Shiba Inu community has been pushing for initiatives to help the cryptocurrency gain more credibility. Last week, the team behind the project embarked on a campaign to entice prospective issuers into filing for spot ETFs tied to Shiba Inu. 

This comes after several asset managers submitted ETF applications for crypto assets, such as SOL, XRP, and ADA. Meme-based cryptocurrencies like Dogecoin, Bonk, and Official Trump also have pending ETF applications with the SEC. 

Despite the numerous filings, Shiba Inu has yet to see a single application linked to SHIB, prompting the community to demand one. 

Interestingly, Shiba Inu currently has a better chance of being approved for an ETF. As previously reported, the SEC declared that meme coins, like Shiba Inu, are not securities, ending any regulatory uncertainty surrounding the token. 

Top NBA Champion Scottie Pippen Says He Is Bullish on XRP

NBA Hall of Famer Scottie Pippen has joined the growing list of high-profile figures expressing optimism about the future of XRP.

In a recent tweet, Pippen shared his enthusiasm for a variety of digital assets, including XRP. “BULLish on XRP,” Pippen revealed. This signals his strong support for the digital currency at the forefront of revolutionizing cross-border payments.

XRP is known for its fast and low-cost transactions. It continues to gain attention from institutional investors and financial institutions worldwide.

Pippen’s Suggests XRP Could Overtake Ethereum

Meanwhile, this is not the first time Pippen has publicly expressed interest in XRP. Three months ago, Pippen, a two-time Olympic gold medalist, ignited a debate in the crypto community over which cryptocurrency—XRP or Ethereum—will dominate the 2025 bull run.

Pippen’s post on X social media invited opinions, with XRP supporters pointing to SEC-reviewed ETFs as a potential catalyst for XRP’s rise.

Some suggested that XRP’s recent price surge in November, which outpaced Ethereum’s growth, signals a shift from XRP’s historical underperformance, making it more likely to dominate.

Notably, prominent figures like BitBoy and John Deaton have predicted that XRP could surpass Ethereum in valuation.

Pippen’s Broader Crypto Outlook

In addition to his confidence in XRP, Pippen extended his optimism to other leading cryptocurrencies. They include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA). Specifically, he said he is bullish on all of them.

Moreover, he stated that he is “BULLish on the future of crypto,” reflecting his broader positive outlook on the growth of the digital asset space.

Notably, this post has attracted massive engagement from the XRP and broader crypto community as they weigh its significance.

One community member commented that she would have never forecasted when she met Pippen years ago that he would be a financial analyst and motivator, but “here we are.”

Meanwhile, some critics have raised concerns about his endorsement. One commenter claimed that Pippen was previously shilling Bitcoin and questioned why he was “suddenly” bullish on other altcoins.

Here’s How Much XRP You Need to Join the XRP Rich List as It Becomes Part of the US Digital Asset Reserve

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With Donald Trump naming XRP in the U.S. national digital asset reserve, this article highlights how many tokens one needs to enter the list of wealthiest XRP holders. 

President Donald Trump kept to his campaign promise by ordering the creation of a national digital asset strategic reserve featuring multiple crypto, including XRP. 

Expectedly, the inclusion of XRP in the U.S. national digital asset reserve has attracted the attention of crypto investors. As a result, many investors are seeking to join the ranks of the top XRP holders. Amid this growing interest, The Crypto Basic has highlighted how much XRP investors must own today to rank in the coin’s rich list. 

XRP Rich List 

For context, there are 6,228,153 (6.22 million) XRP holders globally, with only a few meeting the minimum requirement to enter the rich list.  

Top 10% Largest XRP Holders 

An investor must own at least 2,504 XRP coins to join the lowest tier. This reflects a slight increase from last month’s threshold of 2,501 XRP.  

At the current price of $2.75, it costs about $6,886 to acquire 2,504 XRP and rank among the coin’s wealthiest holders. Owning 2,504 XRP automatically places an investor among the top 10% of the largest XRP holders.

At the moment, only 622,815 addresses hold a minimum of 2,504 XRP, according to data from Rich-List.info. It bears mentioning that the number of addresses that met the minimum threshold has surged by 18.94% since August 2024, when the figure stood at 523,615. 

Other Category  

In addition, ranking among the top 5% largest XRP holders requires a minimum holding of 9,101 XRP, currently valued at $25,027.

XRP Richlist
XRP Richlist

As of last month, investors were required to own a minimum of 9,122 XRP to rank among the top 5% largest XRP holders. There are only 311,408 addresses in this category, each holding a minimum of 9,101 XRP. 

Furthermore, investors who need to elevate their status in the list and rank among the top 1% of XRP’s largest holders would require a minimum of 52,991 XRP. This represents a slight drop of 0.41% from the threshold of 53,212 XRP set last month. 

Acquiring the 52,991 XRP costs about $145,725 today. Only 62,282 addresses meet this requirement, placing them among the top largest XRP holders. 

Meanwhile, to enter the exclusive top-tier spot on the rich list, investors must own a minimum of 5,782,215 (5.78 million) XRP. At the current price of $2.75, acquiring these coins would cost about $15.9 million. 

Prior to XRP’s November 2024 rally, investors could have acquired the 5.78 million XRP for $2.89 million when XRP traded at around $0.5 per coin. Based on the hefty capital requirement, only 623 addresses are in this category.

Joining the XRP rich list could be challenging for some investors, given the recent spike in XRP’s price. Notably, Edo Farina, founder of Alpha Lion Academy, recommends that investors leverage the dollar-cost averaging (DCA) strategy to grow their XRP holdings. 

Footballing Icon Ronaldinho Officially Launches STAR10 Token

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Brazilian footballing legend Ronaldinho has officially launched a token on the BNB chain, marking his official foray into the blockchain industry.

With celebrities swiftly foraying into the cryptocurrency space, most often resulting in massive losses for investors, Brazilian football icon Ronaldinho has become the latest to launch a meme coin.

Intending to change the pessimistic narrative around celebrity-launched tokens, Ronaldinho chose the BNB Chain instead of the widely used Solana network. The retired star confirmed the official launch of the token, with ticker STAR10, in an X post on March 2.

Ronaldinho Launches Official Token

The former Barcelona player has been active in the cryptocurrency space for some time now. His tweets and activities suggest he is replicating the passion he had on the soccer pitch with the nascent industry.

After teasing the official launch of his meme coin in the previous week, Ronaldinho debuted STAR10 on Sunday. As with most celebrity tokens, the BNB Chain-based asset gained instant traction, hitting the top gainer on the popular analytical platform DEXScreener.

STAR10 has continued its meteoric surge at press time, hitting a new all-time high of $0.3855, a staggering 205,000% uptick in the past 24 hours. The price surge has seen its market cap surpass $360 million.

Traces of Insider Trading Surfaces

Notably, the token has been a success, at least for now, compared to most other celebrity meme coins. This is because it has outlasted most rugpull tokens created recently by popular figures.

Nonetheless, on-chain analysis has shown traces of inside trading among the STAR10 team. Market analytical firm Lookonchain highlighted suspicious activity among a wallet linked to the creators of the meme coin.

The platform noted that a wallet, “0xO1D9,” spent 80 BNB ($50,000) to acquire 122.45 million STAR10 two minutes after launch, about 12.24% of the token’s 1 billion total supply. Lookonchain linked the address to the STAR10 team because it received funds along with the developer wallet from the cross-chain bridging protocol, Allbridge.

Wallet Receives Funds from AllBridge

At the time of writing, the wallet has sold just 1 million STAR10 ($272,000) and still holds 121.45 million STAR10 ($43.6 million). This means the address has recorded a staggering 87,644% portfolio appreciation from its initial deposit.

Meanwhile, Ronaldinho confirmed in a tweet that the team locked the STAR10’s 200 million liquidity for 30 days and could extend it if need be. Data from the on-chain analytical platform The Data Nerd confirmed the retired footballer’s claims.

Nonetheless, the launch followed Ronaldinho’s unpopular start to his crypto venture. In September 2023, he was arraigned for allegedly defrauding users of $61 million in a crypto pyramid scheme.

Cardano Founder Reiterates That XRP Holders Will Receive Midnight Airdrop

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Cardano founder Charles Hoskinson name-drops XRP to drive attention toward Midnight, Cardano’s forthcoming privacy project.

The XRP Ledger and XRP holders have not always been popular amongst crypto market participants and projects. However, this tide appears to be shifting amid growing regulatory clarity and, most recently, support from President Donald Trump.

In the latest instance highlighting this, Cardano founder Charles Hoskinson has name-dropped the project to drive attention toward a key Cardano project.

On Sunday, March 2, Hoskinson sought to drive attention to the forthcoming launch of Cardano privacy protocol Midnight by highlighting that XRP holders will be among recipients of the project’s “glacier drop.”

The glacier drop is a Midnight initiative geared towards incentivizing the use of the privacy protocol across major blockchains. Specifically, the project will be airdropping its token to 37 million wallets across eight major blockchains, including Avalanche, BAT, Bitcoin, BNB, Cardano, Ethereum, Solana, and the XRP Ledger.

Still, it remains unclear when Midnight will launch and when these tokens will be distributed.

Hoskinson’s recent reminder that the XRP holders are included in this airdrop comes as President Donald Trump has confirmed interest in including XRP in the proposed U.S. national crypto reserve.

In Truth Social posts on Sunday, Trump declared that he wanted the crypto strategic reserve to include BTC, ETH, ADA, SOL, and XRP, sending the prices of these assets soaring.

ADA, the native token of the Cardano network, has surged over 50% to trade above the $1 mark, while XRP has jumped over 15% to change hands above $2.60.

Donald Trump Announces First Ever US Crypto Reserve, Eric Trump Says TradFi Better Catch up

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Following President Donald Trump’s announcement of the first-ever US crypto reserve, his son Eric reiterated the paradigm shift from the stereotypical financial system.

While the traditional markets were closed, cryptocurrencies rallied extensively. On Sunday, the digital asset sector regained its $3 trillion valuation, receiving a substantial boost from US President Donald Trump’s announcement of a national cryptocurrency reserve consisting mainly of US-originated cryptocurrencies.

The US president has rekindled the US national crypto reserve ploy, which seemed to be losing momentum. In the much-talked-about Sunday Truth Social post, Trump reiterated his commitment to establishing a stockpile of major made-in-America digital assets. For the first time, he revealed the reserve would contain XRP, Solana, and Cardano.

Trump disclosed ordering the White House crypto working group to move forward with the reserve creation, which will dignify the digital asset sector after years of attacks from the Biden administration. In a follow-up post, the pro-crypto 47th US president clarified that Bitcoin and Ethereum, the two largest cryptocurrencies by market cap, would also be part of the national stockpile.

Donald Trump’s Truth Post on US Crypto Reserve

Eric Trump Says TradFi Better Catch-Up

Eric Trump admonished Donald Trump’s genius in announcing the major update on a Sunday, precisely because the traditional financial (TradFi) system closed for the weekend. He stated that the world no longer operates under the time-constricted phase of operating on a particular day and timeframe.

Furthermore, he urged TradFi to join the evolving financial market or risk extinction. According to him, this development is a win for retail investors, who benefited extensively from the market shift.

Bill Consistent with Week-One Executive Order

Meanwhile, White House crypto and AI czar David Sacks has confirmed that Trump’s reserve announcement is consistent with the executive order he signed during his first week in office. On January 23, the president signed an executive order to make America the crypto capital of the world, fulfilling his promises to the sector.

Moreover, Sacks hinted at more exciting developments in the Friday White House crypto summit. In the Sunday X post, the czar stated that Trump and the team will unfold their detailed plans for the industry in the March 7 congregation.

Interestingly, the cryptocurrency market almost wiped out all February losses with the Sunday pump, setting the bull run back on course. Nonetheless, the surge did not pump Sack’s bags, as he disclosed on Monday that he does not hold any cryptocurrency.

The crypto czar revealed in a parallel tweet that he sold his Bitcoin, Ethereum, and Solana prior to Trump’s inauguration. This confirms a Financial Times report on the issue.