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JPMorgan’s $15B ETP Forecast Could Propel SOL To ATH While PlutoChain Gains Whale Attention

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JPMorgan’s $15B ETP Forecast Could Propel SOL To ATH While PlutoChain Gains Whale Attention

JPMorgan’s $15 billion ETP forecast has ignited bullish momentum for Solana ($SOL), with price predictions soaring to $500 as institutional interest grows. 

Meanwhile, PlutoChain ($PLUTO) could capture whale attention with its plan to redefine Bitcoin’s role in the blockchain space. As a Layer-2 solution, it wants to bring Ethereum-like functionality to Bitcoin, potentially enabling DeFi, NFTs, and more with its 2-second block time.

Let’s check out the details below.

Solana Price Prediction: How Far Will JPMorgan’s Forecast Propel SOL?

VanEck’s head of digital asset research Matthew Sigel reports on the social media platform X that JPMorgan says SOL and XRP ETFs could attract up to $16 billion in total – up to $8 billion each. Matthew Sigel’s forecast of $3 to $8 billion in inflows alone highlights investor confidence.

Looking ahead to 2025, VanEck projects that Solana could reach a price of $520. This optimistic forecast is based on Solana’s expanding market share in the smart contract platform sector and the anticipated growth of the U.S. money supply. 

VanEck’s projection of Solana hitting $520 by late 2025 may seem ambitious, but strong fundamentals support this outlook. Solana’s rapidly growing ecosystem, active developer community, and the expanding smart contract platform market all align with key macroeconomic trends highlighted by VanEck.

That said, the crypto market is highly unpredictable, and numerous factors could impact this forecast. However, Solana’s continued expansion and rising market dominance suggest it could be on a path toward substantial price growth in the years ahead.

PlutoChain Could Expand Bitcoin’s Overall Utility By Adding Smart Contracts To Its Network

Bitcoin’s design limits its ability to support decentralized applications (dApps) and smart contracts, confining it primarily to a store of value. PlutoChain ($PLUTO) could change this by introducing a hybrid Layer-2 solution that brings smart contract functionality directly to the Bitcoin network.

By implementing its own Layer-2 platform with an average block time of just 2 seconds, PlutoChain could enhance transaction speed and scalability, addressing Bitcoin’s limitations a huge difference compared to Bitcoin’s infamously sluggish 10-minute block time. 

This advancement might enable the development of dApps for DeFi, NFTs, AI, and more, all within Bitcoin’s secure environment. PlutoChain’s compatibility with the Ethereum Virtual Machine (EVM) could allow developers to seamlessly migrate Ethereum-based applications to Bitcoin. This integration may combine Ethereum’s flexibility with Bitcoin’s security, potentially fostering a robust ecosystem of decentralized applications on Bitcoin.

Security is a priority for PlutoChain, as evidenced by its successful audits by firms like SolidProof, QuillAudits, and Assure DeFi. Scalability also isn’t just theoretical, PlutoChain’s testnet processes over 43,200 daily transactions, showcasing real-world readiness.

Community governance is central to PlutoChain’s design. Platform users have the power to propose and vote on protocol upgrades, ensuring that the network evolves in line with its users’ needs and desires. 

PlutoChain seeks to transform Bitcoin from a passive store of value into an active platform for decentralized applications. By enhancing scalability, reducing transaction costs, and enabling smart contracts, it could open new avenues for innovation and utility within the Bitcoin ecosystem.

Final Words

JPMorgan’s bullish $15 billion ETP forecast could drive Solana toward new heights, with VanEck even projecting $520 by 2025. Institutional interest and Solana’s expanding ecosystem fuel optimism, but the unpredictable crypto market remains a factor.

While Solana is striving for new heights, PlutoChain is a hybrid Layer-2 solution seeking to rewrite Bitcoin’s story. By potentially enabling smart contracts, DeFi, and NFTs with its 2-second block time, it could turn Bitcoin from a passive giant into an active force.

Disclaimer: This Press release article is provided by the Client. The Client is solely responsible for this page’s content, quality, accuracy, products, advertising, or other materials. Readers should conduct their own research before taking any actions related to the material available on this page. The Crypto Basic is not responsible for the accuracy of info and any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods, or services mentioned in this press release article.

Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.

Best New Crypto Coins: What Is The Best New Cryptocurrency To Buy?

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Best New Crypto Coins: What Is The Best New Cryptocurrency To Buy?

New breakthroughs emerge as Toncoin (TON) expands its Telegram integration, bringing millions of users into Web3, and Kaspa (KAS) pushes proof-of-work to new speeds with its parallel block architecture. Meanwhile, Ondo Finance (ONDO) bridges DeFi and real-world assets, while Berachain (BERA) pioneers Proof-of-Liquidity. Amidst these, JetBolt (JBOLT) is changing the game altogether. With zero-gas technology, groundbreaking ecosystem, and a presale already selling over 325 million tokens, JetBolt is pulling in remarkable whale attention.

From zero-gas transactions to next-gen scalability, these five top new cryptocurrencies are redefining what innovation means in blockchain. But what is the best new cryptocurrency to buy? Which new crypto is setting the stage for dominance? Let’s take a closer look at today’s best new crypto coins: JetBolt, Toncoin, Kaspa, Ondo Finance, and Berachain.

Best New Crypto Coins: A Bite-Sized Summary

  1. JetBolt (JBOLT):  Zero-gas blockchain powering seamless, near-instant transactions.
  2. Toncoin (TON): Telegram’s exclusive crypto driving Web3 adoption.
  3. Kaspa (KAS): Fast, scalable proof-of-work blockchain innovation.
  4. Ondo Finance (ONDO): Tokenizing real-world assets for DeFi.
  5. Berachain (BERA): Liquidity-first blockchain redefining staking rewards.

What is the Best New Cryptocurrency to Buy? A Comprehensive Review

JetBolt (JBOLT)

JetBolt (JBOLT) is rewriting what we know so far about blockchain efficiency, and the whales are already circling, proven by its presale with over 325 million JBOLT tokens already sent flying off the virtual shelves. While other blockchains wrestle with gas fees and slow transactions, JetBolt is eliminating the problem entirely zero-gas, lightning-fast, and built for real-world use from day one.

Imagine a world where gas fees are obsolete, JetBolt’s zero-gas technology, powered by the Skale network, makes that a reality, delivering near-instant, gas-free crypto transactions. On top of that, developers can now launch dApps or blockchain games thanks to this Skale technology without the gas-cost limitations that have historically stifled blockchain innovations.

And then, there’s JetBolt’s easy-to-earn staking mechanism. Forget just earning from staking tokens staking with JetBolt also rewards stakers’ active participation. And thanks to its seamless Web3 wallet, onboarding in the staking adventure is as simple as a few clicks, ensuring that everyone, from seasoned traders to crypto newcomers, can engage.

Building on the innovations, JetBolt is integrating AI directly into ecosystem. On its platform, an AI-driven crypto tool continuously aggregates and displays market news and data, showcasing how artificial intelligence can be leveraged in crypto to do something that would take hours manually in an instant.

With its ecosystem functional and readily available features from day one, JetBolt isn’t waiting for launch to deliver, attracting whales to make their move early. Coupled with daily price increases in the presale and the exclusive Alpha Boxes granting up to 25% extra JBOLT tokens for batch purchases, buyers are flocking to the JetBolt ecosystem.

As more and more whales move in and momentum builds, JetBolt stands as a novel force in crypto one built for efficiency, accessibility, and real utility from day one. A zero-gas ecosystem, AI-powered tool, and staking that rewards participation, it’s everything blockchain should be, and JetBolt highlights it today.

Toncoin (TON)

Toncoin (TON) is rapidly expanding, fueled by its exclusive partnership with Telegram, making it the only cryptocurrency integrated into the platform’s services. With over $1.43 billion USDT supply and over 50 DeFi projects, Toncoin’s ecosystem is growing fast.

Additionally, Toncoin’s instant, low-cost transactions and seamless Telegram integration make it one of the most accessible and widely adopted blockchain networks today.

Kaspa (KAS)

Kaspa (KAS) is revolutionizing blockchain with its GHOSTDAG protocol, enabling fast, parallel block processing without sacrificing security. With Keynote 3 set for March 2025 and a recent Kraken listing, Kaspa’s adoption is accelerating.

Furthermore, Kaspa’s scalability, instant transactions, and pure proof-of-work model make it a standout choice for those seeking efficiency in decentralized networks.

Ondo Finance (ONDO)

Ondo Finance (ONDO) is bridging traditional finance with DeFi, integrating tokenized assets like USDY and OUSG into lending and trading platforms.

The launch of Ondo Chain, a Layer 1 blockchain, tackles high fees and regulatory challenges, making ONDO a leader in real-world asset tokenization—a game-changing approach that’s reshaping the future of decentralized finance.

Berachain (BERA)

Berachain (BERA) launched its mainnet on February 6, 2025, introducing its unique Proof-of-Liquidity (PoL) consensus, allowing staking without locking assets. Berachain’s $647 million airdrop rewarded early supporters, and BERA’s listings on Binance and Crypto.com boosted accessibility.

With EVM compatibility and a liquidity-first approach, Berachain is reshaping blockchain rewards and fueling a new era of DeFi innovation.

Frequently Asked Questions (FAQs): Best New Crypto Coins to Watch

What is the best new cryptocurrency to buy right now?

While no cryptocurrency is ever a guaranteed success, and predicting the market is impossible, JetBolt (JBOLT) stands out as one of the best new cryptocurrency to buy and the most compelling new crypto coins today. With its zero-gas technology, growing community, real blockchain utility from day one, and surging whale activity, JetBolt is proving to be one of the most exciting tokens to watch right now.

What are the best new crypto coins in the market now?

According to market trends and recent activity, these are some of the best new crypto coins and the most talked-about fresh and young cryptocurrencies right now:

  • Toncoin (TON)
  • Kaspa (KAS)
  • JetBolt (JBOLT)
  • Ondo Finance (ONDO)
  • Berachain (BERA)

As nothing is guaranteed in crypto, always conduct your own research before engaging with any and all cryptocurrencies.

Where can I buy these best new crypto coins?

JetBolt is available on its official website through its ongoing presale, while Toncoin, Kaspa, Ondo Finance, and Berachain are listed on major exchanges like Binance, Crypto.com, and Coinbase.

How does JetBolt’s zero-gas technology work?

JetBolt eliminates gas fees entirely by leveraging the Skale Network, allowing transactions to be processed instantly without gas-cost barriers—an innovation that’s reshaping blockchain accessibility.

Final Verdict: The Top Contenders in Crypto’s Next Chapter

JetBolt (JBOLT), Toncoin (TON), Kaspa (KAS), Ondo Finance (ONDO), and Berachain (BERA) are reshaping the crypto landscape, each with cutting-edge innovations. As Toncoin dominates Telegram, Kaspa redefines PoW, and Ondo Finances bridges TradFi and DeFi, Berachain pioneers liquidity-first staking. Amidst these, JetBolt’s zero-gas revolution is pulling whales in like clockwork. With a cutting-edge ecosystem, user-centric innovations, and surging presale demand, JetBolt isn’t just creating a massive buzz amongst those looking for the hottest new coins it shows that demand for innovation and next-generation cryptocurrencies continues to thrive.

Explore more of JetBolt’s innovations and its presale that’s already generating buzz by visiting:

JetBolt’s Official Website

JetBolt on X

Disclaimer: This Press release article is provided by the Client. The Client is solely responsible for this page’s content, quality, accuracy, products, advertising, or other materials. Readers should conduct their own research before taking any actions related to the material available on this page. The Crypto Basic is not responsible for the accuracy of info and any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods, or services mentioned in this press release article.

Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.

Looking For Low Cost Gems? Explore These 5 Cryptos That Could Turn You Into A Millionaire

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Looking For Low Cost Gems? Explore These 5 Cryptos That Could Turn You Into A Millionaire

In the thriving world of cryptocurrencies, discovering affordable and promising coins can lead to substantial gains. As the market experiences a bullish trend, investors are keen to spot digital currencies with significant potential. This article unveils five cryptos that may rise dramatically, offering insights into promising opportunities for those seeking lucrative investments in this bullish landscape.

Catzilla Wrecks Chaos: The Meme Coin for Warriors of Crypto

In a world where financial freedom feels out of reach, a new opportunity emerges Catzilla! Born from the frenzy of meme culture and set for explosive growth, this is the meme coin investors have been waiting for!

14 Stages. Limitless Potential.

A legendary cat warrior with lives to spare, Catzilla offers you 14 chances to grab the power-packed $CATZILLA token before it goes public. Imagine leveling up your stash from Stage 1 to Stage 14, where your gains soar up to 700%! Catzilla evolves as the presale progresses, bringing you closer to financial victory with every step.

But beware, fellow warriors, the clock is ticking, and only the swift and the daring will secure their share of Catzilla’s unstoppable might.

Claim your share before Catzilla stomps the competition flat!

Cats Are Taking Over: Forget Dogs. It’s All About the Meow Money

The crypto world’s gone barking mad for years, but now it’s time for cats to claw their way to the top. MEW and Popcat are the latest feline sensations proving that dogs might fetch headlines, but cats bring home the gains.

  • MEW: Purring into the top 15 meme coins, this clever kitty pulled off a 103.7% climb in just three months
  • Popcat: This one didn’t just pounce, it soared, delivering a jaw-dropping 157.44% surge.

These aren’t just one-off flukes. Cats are on the prowl, staking their claim in the meme coin kingdom. And if you think MEW and Popcat are impressive, wait until Catzilla roars onto the scene. Forget chasing tails this is where the real action is.

The Mission: Smash the Market. Rewrite the Rules

Catzilla is here to destroy the old systems that hold you back. It’s time to build a new world where you, the warriors of the crypto space, rise up and claim what’s yours. With every stage of this presale, the forces of profit grow stronger.

Time is running out, and the opportunity to join Catzilla’s army won’t last forever. The profits are set to explode, and only those brave enough to seize this moment will see their gains rise like a true anime hero’s power level.

Get in now, watch Catzilla wreck the market, and bring chaos to the competition!

Ethena (ENA) Poised for Bullish Breakout Soon

Ethena’s price is set between $0.40 to $0.50, riding close to its support level of $0.35. Its RSI is low at 29.46, suggesting it’s oversold and could rise. Recently, it dipped by over 15% in a week, but it shows potential for a reversal, eyeing a resistance level at $0.56. If it breaks through, reaching the second resistance of $0.66 could mean a significant gain. The 6-month price increase is over 33%, hinting at bullish long-term prospects. With a stochastic at 2.614, momentum might soon shift upwards. Rising past immediate resistance could spark gains up to 32% from current levels, aligning with growing optimism for a crypto bull run.

Onyxcoin: Ready for Major Surge or Setback?

Onyxcoin’s price is between $0.0181 and $0.0270. The low RSI at 25.71 suggests it is oversold, indicating a potential rise. A significant gain of 77.45% in the past month shows strong momentum. However, the 15.18% drop in the last week hints at volatility. If it crosses the $0.0318 resistance, it could target $0.0407, a potential increase of around 50% from its lower range. The MACD level is negative, which could slow growth. Yet, the impressive 1410% rise over the past 6 months shows Onyxcoin’s capability for significant gains. Watch these levels closely for clues on its next move.

Shiro Neko’s Price Poised for Potential Rebound Amid Market Dynamics

Shiro Neko’s price sits between $0.00000002512 and $0.00000003359. It’s close to the support level of $0.00000002224. Despite a past 63% drop this month, there could be a bounce back. Recent buying interest might target the first resistance at $0.00000003918. This would be over a 15% increase from its current high. If it crosses this, reaching $0.00000004765 isn’t off the table, marking a near 42% surge. With the market anticipating an altcoin season, Shiro Neko could capitalize. However, it’s crucial to watch its overall market momentum and resistance levels.

FET Primed for a Rebound as Crypto Market Eyes Gains

The Artificial Superintelligence Alliance (FET) is showing a mixed bag of movements. With its current price wobbling between $0.72-$0.84, FET is just below its 100-day Moving Average of $0.78, indicating potential upside. The RSI is at 30.50, a sign that the coin is oversold and may bounce back soon. Watch for resistance at $0.90; breaking through here could push FET toward $1.03, a possible gain of over 35% from current levels. Although down 7.93% over the week and 45.91% for the month, these might represent a solid entry point for those bullish on altcoin season. As the macro crypto environment heats up, FET could see significant growth.

Conclusion

In the current bull run, ENA, XCN, SHIRO, and FET have less short-term potential. Catzilla, the ultimate meme coin hero, aims to bring financial freedom to everyone. With an expected 700% return during its presale from $0.0002 to $0.0016 it offers governance rights, rewards for loyalty, and staking options. Catzilla unites crypto fans to combat harmful systems.

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Disclaimer: This Press release article is provided by the Client. The Client is solely responsible for this page’s content, quality, accuracy, products, advertising, or other materials. Readers should conduct their own research before taking any actions related to the material available on this page. The Crypto Basic is not responsible for the accuracy of info and any damage or loss caused or alleged to be caused by the use of or reliance on any content, goods, or services mentioned in this press release article.

Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.

Solana Woes Deepen as FTX Set to Unlock 11.2M SOL on March 1

Mark Brennan
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Solana Woes Deepen as FTX Set to Unlock 11.2M SOL on March 1

Market sentiments around the Solana ecosystem have further soured, with FTX set to unlock over 11 million SOL, worth nearly $2 billion, next month.

The Solana ecosystem has been under intense pressure recently as the meme coin fiasco in the network escalates. Reports of insider trading and collaborations to defraud investors have been trending, heightening negative bias.

For perspective, tongues started wagging after the LIBRA token saga involving Argentina President Javier Milei. To add to the skepticism, the decentralized exchange aggregator Jupiter admitted to the foreknowledge of the token’s launch, confirming a perfectly staged rug pull.

While the rumble negatively impacts social sentiments and prices, another possible setback has emerged for Solana. Notably, the bankruptcy estate of the defunct exchange FTX has disclosed plans to unlock 11.2 million SOL, increasing the coin’s circulating supply.

Solana Faces Unlock Worth 8% of Circulating Supply

With FTX repayment resuming yesterday, creditors with under $50,000 in the exchange before its collapse have received up to $1.2 billion. Meanwhile, the bankruptcy exchange will unlock 11.2 billion SOL on March 1, which it sold at auction to repay customers.

The unlock follows the FTX estate’s 41 billion SOL sales after the famous November 2022 collapse. The exchange sold these tokens at a discounted price to top companies like Galaxy, Pantera, and Figure.

For context, Galaxy bought 25 million SOL at $64 each, Pantera 13.67 million SOL at $95, and Figure 1.8 million at $102. This means they have 165%, 79%, and 66% profits on their Solana holdings, respectively.

Impact on Price?

Meanwhile, there is growing speculation that Galaxy and these other firms will liquidate these assets upon unlock, neutralizing demand with fresh supply.

An analyst suggests that buying Solana is dangerous amid the burgeoning skepticism around the ecosystem. Also, the likelihood of price downsides means these firms have nothing stopping them from selling the 41 million SOL.

If these sentiments persist, Solana could see lower prices, with technicals aligning with the bearish outlook. The asset has already broken down from a multi-month ascending triangle, invalidating bullish outlooks.

Further, Ali Martinez’s analysis shows Solana’s next target is the 0.382 Fibonacci level at $165. At the time of writing, the asset trades at $168.58, down 10% in the past week.

Solana Price Analysis | Ali Martinez

Bitcoin Profits: Expert Reveals Easy Money Strategy for 2025

Albert Brown
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Bitcoin Profits: Expert Reveals Easy Money Strategy for 2025

Analyst Mags shares strategies to maximize Bitcoin gains in the 2025 bull run as the asset moves toward a projected $180K price.

Bitcoin’s recent price movement has been marked by volatility following its surge toward $99,000 on Valentine’s Day. The asset faced immediate selling pressure, leading to a retreat to $97,000, where it stabilized over the weekend. 

As the new trading week began, Bitcoin saw another downturn, with the price crashing below $93,500. Meanwhile, Bitcoin rebounded above $96,000, where it has settled till this press.

Amid these fluctuations, analyst Mags identified a silver lining based on historical performance post-halvings dubbed “Bitcoin easy money strategy.”

Bitcoin Easy Money Strategy

Mags pointed to a historical trend in Bitcoin’s halving cycles as a potential indicator for future price action. The analysis highlights a cycle-based strategy that tracks Bitcoin’s performance around halving events. 

According to the pattern, Bitcoin typically experiences a pre-halving accumulation phase, where prices trade at significant lows about 500 days before the halving. Historically, investors who accumulate during this period have seen exponential gains after the halving.

Following the halving, Bitcoin enters a strong bull run, often peaking around 500 days later. At this stage, the asset reaches a macro top before undergoing a notable correction. 

Based on this historical trend, Bitcoin could see a substantial rally in 2025. The analyst has identified a potential peak in Q3 or Q4 of 2025, with a projected top near $180,000, which would act as the sell zone. Other market observers, including asset manager VanEck, have echoed similar targets.

Essentially, Mags’ strategy involves entering the Bitcoin market 500 days before the halving and existing 500 days after, as the market would have reached the top by then. He urges his followers to take profit from Bitcoin at the $180 level.

VanEck Echoed This Target

Notably, VanEck’s 2024 crypto outlook included projections for Bitcoin’s price trajectory in 2025. The firm expects Bitcoin to reach a cycle high of $180,000, driven by sustained bullish momentum from the market conditions at the time of their prediction. 

However, VanEck anticipates a sharp correction before Bitcoin reaches its peak. The firm noted a 30% price decline could occur, coinciding with a broader altcoin market downturn of up to 60%.

Large Holder Inflows Surge

An additional bullish indicator is the ongoing accumulation of Bitcoin among major investors. A surge in Large Holder Inflows suggests significant Bitcoin acquisitions are occurring. 

The 7-day inflow change has increased by 864.27%, reflecting a sharp rise in large-scale buying activity. 

Bitcoin Large Holders Inflow
Bitcoin Large Holders Inflow

Over a 30-day period, inflows have climbed by 441.06%, reinforcing the notion that whales and institutional investors continue accumulating Bitcoin. Meanwhile, the 90-day inflow change has dropped by 85.70%, suggesting a post-distribution consolidation phase.

Even If Bitcoin Dips by 30% to $77K, Bull Run Remains Intact: CryptoQuant CEO Explains Why

Mark Brennan
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Even If Bitcoin Dips by 30% to $77K, Bull Run Remains Intact: CryptoQuant CEO Explains Why

Today, Bitcoin briefly dipped to the lower range of the $90K region, stirring bear market fears, especially as the market has yet to fully recover from the February 3 bloodbath.

Meanwhile, industry leaders like Ki Young Ju, founder of CryptoQuant, continue to reassure that the market remains in a bullish phase, at least according to key indicators.

In a tweet today, Young Ju shared an on-chain analysis showing that Bitcoin’s realized price data suggests a strong bull market. The metric revealed a critical level where a breach below could spell trouble.

For context, the realized price refers to the average acquisition price of Bitcoin for different groups of holders. While Bitcoin currently sits at $95K, ETFs, custody wallets, and major market players are holding at strategic price points.

Key Realized Price Levels of Bitcoin Holders:

  • ETFs and Custody Wallets: $89K
  • Binance Traders: $59K
  • Mining Companies: $57K
  • Old Whales: $25K (historically never breached)

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This implies that institutional investors, particularly those holding Bitcoin through ETFs and custody wallets, have an average cost basis of $89K.

Meanwhile, Binance traders are positioned lower, with their realized price averaging around $59K. This suggests that many retail and exchange participants acquired their BTC at more favorable prices.

Mining companies hold their Bitcoin at an average realized price of $57K. Notably, the miners’ realized price has historically been a crucial indicator of market sentiment.

In previous downturns—such as in May 2022, March 2020, and November 2018—falling below this threshold marked the beginning of extended bear markets.

However, old whales, who have been in the market for years, maintain a significantly lower cost of $25K. According to Young Ju, this level has never been breached in Bitcoin’s history.

Essentially, Bitcoin’s resilience above these realized price levels suggests continued institutional confidence, particularly from ETFs and custody wallets.

While short-term volatility remains a possibility, historical trends indicate that BTC’s long-term bullish structure remains intact.

Bull Cycle Remains Intact Even with 30% Dip

Crypto analyst Chainyoda questioned whether a stock market decline could trigger a BTC drop. However, Young Ju dismissed concerns about a bear market, stating that even a 30% correction from BTC’s all-time high wouldn’t necessarily end the bull run.

“If BTC drops from $110K to $77K, that would still be in line with past bull cycles,” he explained.

With Bitcoin’s price currently hovering around $95.6K, market participants are to monitor the $57K miner level as a key benchmark for sustaining the ongoing bull run.

Utah Bitcoin Reserve Bill Now 50% Complete as Senate Committee Schedules Public Hearing

Lele Jima
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Utah Bitcoin Reserve Bill Now 50% Complete as Senate Committee Schedules Public Hearing

Utah is 50% away from creating a Bitcoin reserve after a bill for this purpose advances to the state’s Senate Revenue and Taxation Committee.

The Blockchain and Digital Innovation Amendments bill (H.B. 230), proposed by Utah Representative Jordan Teuscher, has advanced to the state’s Senate Revenue and Taxation Committee. 

Utah’s Bitcoin Reserve Bill is Now 50% Complete 

This follows the legislative progress the bill has witnessed since its introduction on January 21, 2025. Notably, following its introduction in Utah’s House of Representatives, it passed with bipartisan support in an 8-1 vote last month. 

Afterward, the bill advanced to the Senate this month, with a first reading held on February 7. This advancement marks a 50% progress, bringing Utah halfway to creating a digital asset reserve. 

Yesterday, Utah’s Senate assigned the bill to the Revenue and Taxation Committee for further deliberation. 

Public Hearing Scheduled 

Interestingly, the committee has scheduled a public hearing on the bill for tomorrow, February 20, 2025. This hearing will be held in Utah’s Senate building by 9:00 AM. 

Utah Bitcoin reserve bill advances
Utah Bitcoin reserve bill advances

During the hearing, the taxation committee is expected to deliberate on whether the bill should proceed in the legislative process. It could also make some changes to the bill before it can schedule a vote. 

For context, the bill seeks to authorize the state’s treasurer to invest up to 5% of Utah’s public funds into ‘qualifying digital assets.’ According to the proposal, these include cryptocurrencies with a minimum market cap of $500 billion over the past year. 

At press time, Bitcoin is the only crypto that meets this qualification. The premier cryptocurrency has a valuation of $1.9 trillion. Ethereum, which stands as the second-biggest cryptocurrency, currently has a market cap of $327.18 billion. 

Rising Interest in Bitcoin Among US States 

Meanwhile, the bill aligns with the growing state-level interest in cryptocurrencies like Bitcoin. Since Donald Trump’s reelection in November 2024, over 15 U.S. states, including Ohio and Texas, have introduced separate bills that would enable them to buy and hold Bitcoin. 

Notably, Texas’ Bitcoin reserve bill has also progressed to the state’s Senate, with a public hearing held yesterday. Amid the growing interest in Bitcoin among U.S. states, Rep. Teuscher is confident that Utah will be the first to pass a digital asset reserve bill. 

Open Interests for Dogecoin and Shiba Inu See Massive Crash: Here’s How This Could Affect Price

Mark Brennan
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Open Interests for Dogecoin and Shiba Inu See Massive Crash: Here’s How This Could Affect Price

Open interest in Dogecoin and Shiba Inu futures has plunged significantly amid a broader trend across the meme coin sector. 

According to a report from blockchain analytics firm Glassnode, futures OI for these assets has seen a sharp downturn. This decline comes amid ongoing price struggles in the market, with meme coins facing declines.

Dogecoin Open Interest Takes a Major Hit

Dogecoin, the largest meme coin by market cap, experienced a 58.45% drop in its futures open interest. The metric fell from $3.58 billion on December 9, 2024, to just $1.49 billion. Notably, this contraction in OI indicates that traders are either exiting leveraged positions or becoming less confident in speculative trading.

For context, a reduction in open interest like this often suggests lower volatility in the short term, but it can also imply a potential market reset. When speculative interest declines, the likelihood of large, unexpected price swings drops. 

Shiba Inu and Other Meme coins Follow Suit

According to Glassnode, Shiba Inu also saw a substantial decline in open interest, dropping 74.41% from $323 million to $83 million. Meanwhile, PEPE, BONK, and WIF recorded 71.93%, 75.10%, and 69.83% drops, respectively. FLOKI also saw a significant contraction of over 69.18%.

Notably, the widespread nature of this crash indicates that traders are now shifting away from speculative meme coin trades, possibly in response to broader market conditions and recent issues regarding pump-and-dump meme schemes like LIBRA and ELIZA.

Price Implications

Typically, a sharp reduction in futures OI can indicate either a market bottom or a sign of waning investor confidence. As leverage drops, price action could become more stable in the short term. 

However, it also means that less speculative capital is flowing into these meme coins, which could slow down any significant recovery rallies.

Particularly, in the case of Dogecoin and Shiba Inu, the current OI drop may lead to reduced price volatility. If traders regain confidence and start building positions again, it could trigger renewed upward momentum. 

Dogecoin Price Analysis

Despite the downturn in open interest, some analysts remain optimistic about Dogecoin’s future price movements. Crypto market analyst Crypto Rachel suggests that Dogecoin is currently at an oversold level, reminiscent of past market bottoms. 

According to her, meme coin sentiment has reached peak fear, which historically precedes a strong recovery. She believes that Dogecoin could see a sharp price rebound, potentially reaching new highs for the year. 

Another analyst, Captain Parabolic, argued that Dogecoin could see a significant price surge over the next couple of years, with a bold prediction that the asset could reach $6 by 2026. 

Dogecoin 1D Chart Captain Parabolic
Dogecoin 1D Chart | Captain Parabolic

Shiba Inu Price Outlook

For Shiba Inu, market analysts are also predicting an upside potential if key support levels hold. Rose Premium Signals, a market analytical channel, noted that Shiba Inu is currently bouncing off a crucial accumulation zone. 

As long as this support level remains intact, the analyst expects a strong upward move. Further, the channel has identified multiple price targets for SHIB, ranging from $0.00002338 to $0.00003659. 

Additionally, market analyst CW noted that a major sell wall exists at $0.0000225. According to his analysis, Shiba Inu is expected to experience a smooth uptrend until reaching this resistance. In the short term, he maintains a target of $0.00004, indicating potential for further price appreciation if momentum builds.

Shiba Inu 1D Chart CW
Shiba Inu 1D Chart | CW

Here’s Why Bitcoin Is “About To Take Off” According to This Analyst

Mark Brennan
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Here’s Why Bitcoin Is “About To Take Off” According to This Analyst

Bitcoin may be set to stage a massive rally, at least according to one prominent analyst.

In an X post on Wednesday, February 19, highly followed crypto analyst “Titan of Crypto” suggested that Bitcoin could be “about to take off.” The analyst expressed this view, citing the stochastic relative strength index, a marriage of two widely used technical indicators used to identify price extremes when an asset’s price is overbought or oversold.

Titan of Crypto noted that the StochRSI on Bitcoin’s weekly timeframe was currently oversold. This typically marks an accumulation or re-accumulation phase before an upswing. 

Bitcoin StochRSI oversold on weekly timeframe
Bitcoin StochRSI oversold on weekly timeframe. Source: Titan of Crypto

As marked out on the analyst’s chart, Bitcoin was last in this oversold territory between April 2024 and October 2024 before surging about 80% from around the $60,000 price point to all-time highs around $109,000.

Interestingly, Titan of Crypto is not the only analyst who has recently implied that something is brewing on the Bitcoin charts.

Daily Bullish Divergence 

Also, on Wednesday, “Rekt Capital” suggested that Bitcoin could be forming a bullish divergence in the daily time frame, highlighting lower lows on the price chart and higher lows on the RSI.

Bitcoin bullish divergence on the daily timeframe
Bitcoin bullish divergence on the daily timeframe. Source: Rekt Capital

This divergence typically indicates that bears may be losing strength, and bulls may be getting ready to take over.

Further adding to the bullish speculation, market participants believe whales may be getting set to buy the market dip, as $1.25 billion in stablecoins have been minted in the past 24 hours.

However, Bitcoin continues to idle around the $96,000 price point at the time of writing.

Expert Says Why Worry About Buying XRP at $3? Look at Bitcoin’s 96,000% Rise

Abdulkarim Abdulwahab
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Expert Says Why Worry About Buying XRP at $3? Look at Bitcoin’s 96,000% Rise

Expert Edoardo Farina advises XRP investors to focus on the long-term and not stress over short-term price dips, comparing XRP’s future to Bitcoin’s 96,000% rise.

Over the last 24 hours, a major bearish storm has taken over XRP’s gains, causing the price to dip to $2.47. This comes just three days after XRP re-approached the $3 mark, reaching a multi-week high of $2.83. However, it has since dipped about 15%, triggering concerns among holders.

Notably, this dip occurred amid Bitcoin’s instability. The premier crypto asset dropped to $93,300 over the past day after ranging around $98K for several days.

With ongoing price fluctuations causing unease among holders, Edoardo Farina, the founder of Alpha Lions Academy, took to X to offer a reminder for XRP investors to zoom out.

Worry Not About Buying XRP at $3

Farina emphasized a smart investing approach, pointing out that small price movements should not deter long-term holders. He drew a parallel to Bitcoin’s past performance, where it surged from just a few dollars to a six-figure digital asset.

“Would it really matter if you bought Bitcoin at $100 or $300, knowing where it is today?” Farina asked.

His statement suggests that it would not matter whether one bought XRP at $1 or $3 in a few years, as the price could have advanced as dramatically as Bitcoin’s did. He argues that short-term volatility is just noise for those who believe in XRP’s potential.

Take Cues from Bitcoin

For context, Bitcoin traded around $100 in 2013, and today, it sits at $96,281, delivering steadfast holders a 962X return.

Meanwhile, XRP has also been part of the market through Bitcoin’s 12-year rise. Currently, at around $2.60, XRP has offered holders a 44X return.

While the return on XRP may seem small compared to Bitcoin’s astronomical rise, experts like Farina remain bullish on its future. In previous commentaries, Farina suggested that XRP could reach lofty heights—up to $10,000 per coin.

Essentially, Farina’s tweet encourages investors to avoid panicking over short-term price dips. He suggests that, in hindsight, buying XRP at a “higher” price like $3 may seem irrelevant, especially if XRP reaches some of the widely projected future values.

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