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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.
- 16:07Data: $1.378 billion in liquidations across the network in the past 24 hours, with $214 million in long positions and $1.164 billion in short positions liquidatedAccording to ChainCatcher, citing data from Coinglass, liquidations across the entire network reached $1.378 billion in the past 24 hours, with $214 million in long positions and $1.164 billion in short positions liquidated. Among these, Bitcoin long positions saw $31.8782 million liquidated, while Bitcoin short positions accounted for $657 million. For Ethereum, $63.8634 million in long positions and $216 million in short positions were liquidated. In addition, over the past 24 hours, a total of 289,202 traders worldwide were liquidated, with the largest single liquidation occurring on a certain exchange's BTCUSDT pair, valued at $88.5465 million.
- 16:07Publicly Listed DDC Enterprise Announces $100 Million Bitcoin Strategic Partnership Intent with Animoca BrandsAccording to ChainCatcher, DDC Enterprise has announced that it has signed a non-binding memorandum of understanding with Animoca Brands to develop and implement strategies aimed at maximizing the returns on Web3 leaders' Bitcoin assets while managing associated risks. Animoca Brands will entrust up to $100 million worth of Bitcoin to DDC for yield enhancement strategies. In addition, Yat Siu, co-founder of Animoca Brands, will join the Bitcoin Vision Committee established by DDC. Last month, DDC announced a $528 million financing agreement.
- 16:07Data: M briefly surpasses $1, up over 140% in 24 hoursAccording to ChainCatcher, Bitget market data shows that M briefly surpassed $1, with a 24-hour increase of over 140% and a circulating market capitalization exceeding $1.3 billion.