Crypto Pulse——3/3 Market Trends and Hot Project Analysis

Preface
Bitcoin and Ethereum have risen by 8.79% and 10.23% respectively in the past 24 hours, with current prices at $93,012 and $2,460, and the ETH/BTC exchange rate at 0.026. The Crypto Fear & Greed Index stands at 33, indicating fear.

Market Trending

The market experienced a significant rebound yesterday after Trump announced the inclusion of ADA, SOL, and XRP in the U.S. strategic reserve. Bitcoin surged from a low of $85,000, breaking through $95,000 at its peak, with a daily increase of over 10%. The total crypto market capitalization rose by 9% to $3.25 trillion, with altcoins experiencing a 15% increase.

After Bitcoin dipped below $80,000 last Friday, the market seemed to have entered a bear phase. However, this changed yesterday. In a post on Truth Social, Trump announced the establishment of a strategic digital asset reserve, indicating that SOL, XRP, and ADA could be part of it. He later reiterated that “Bitcoin and Ethereum will be the core of the reserve.” Trump’s statements once again highlighted his influence on the crypto market, reigniting enthusiasm. The three tokens he mentioned led the market rally, with SOL breaking its recent slump, soaring from $140 to $179, XRP surpassing USDT to become the third-largest cryptocurrency by market cap, and ADA rising over 70% to become the eighth-largest cryptocurrency.

Among altcoins, the meme market has reignited, with DOGE reaching $0.23, and Solana-based memes like TRUMP and WIF seeing increases of over 30%. The DeFi sector also saw gains of over 10%, with American concept tokens like AAVE, ENA, LINK, and ONDO performing well.

Although the market is warming up, important economic activities such as ADP employment numbers, FOMC permanent voting members, and non-farm payrolls in the coming week may lead to broader market fluctuations. Additionally, Friday’s White House cryptocurrency summit, hosted by Trump, is undoubtedly the hottest event of the week and worth close attention from investors.

Daily Spotlight

Today’s spotlight is ADA, which has risen 70.27% in the last 24 hours.
Cardano (ADA) is an open-source, decentralized public blockchain platform that achieves consensus through a PoS mechanism. It aims to build a multi-chain ecosystem for seamless interaction between different blockchains and provide financial services to the unbanked. Cardano separates its blockchain into two layers: the Cardano Settlement Layer (CSL) for processing transactions involving ADA, and the Cardano Computation Layer (CCL) for hosting smart contracts and decentralized applications. This separation allows for more flexible and efficient processing of transactions and information on the Cardano network. ADA is the native token of Cardano, used for paying transaction fees related to various services on the Cardano blockchain, and holders can stake ADA to help ensure accurate information is recorded on the blockchain network.

Due to Trump’s mention of the cryptocurrency strategic reserve, ADA has surged 70.27% in the last 24 hours, currently priced at $1.0577.

Check Out the Latest Prices, Charts, and Data of ADA/USDT Spot and ADA/USDT Perp!

The Word on the Street

Trump: Directs the Presidential Task Force to Advance Cryptocurrency Strategic Reserves Including XRP, SOL, and ADA
Trump stated on social media, “After years of suppression by the Biden administration, the U.S. cryptocurrency reserve will elevate this critical industry. That’s why my digital asset executive order directs the Presidential Task Force to advance cryptocurrency strategic reserves including XRP, SOL, and ADA. I will ensure that America becomes the world’s cryptocurrency capital.”
Subsequently, Trump reiterated on social media: “Clearly, BTC and ETH, along with other valuable cryptocurrencies, will also be at the core of the reserves. I also like Bitcoin and Ethereum.”

Project Funding

Reports indicate that global investment firm Sixth Street has invested $200 million in Figure Technology Solutions, a U.S.-based lending company that utilizes blockchain technology to enhance efficiency and reduce costs in the lending market. This investment will enable Figure to issue up to $2 billion in new loans and help the company expand into other lending markets.

Figure Technology primarily offers home improvement loans but also provides commercial loans and debt consolidation services. It also operates a personal loan business that allows cryptocurrency investors to borrow against their holdings.