Category: News

According to The DeFi Report, over the past month, only 1.26% of Solana’s (SOL) wallet addresses have generated 95% of its total fees. 

This concentration has raised significant concerns about the blockchain’s fee model and its implications for decentralization. 

Solana’s Fee Structure Faces Criticism 

Data from DefiLlama, shows that Solana generated 89.73 million in fees in February. As of March 7, it had generated 8.21 million.

In comparison, Ethereum (ETH) generated 46.28 million in fees in February, with 7.49 million as of March 7.  While these numbers suggest Solana is ahead, Michael Nadeau, the founder of The DeFi Report, claims this comparison may be misleading. 

Although Nadeau acknowledges Solana’s impressive growth, he cautions that it might be less organic than it seems.

“But if you look under the hood, it looks like a house of cards,” he wrote.

According to Nadeau, over the past 30 days, 17.31% of addresses have contributed to 95% of the total fees generated on Ethereum. For Solana, the figure is strikingly small, only 1.26%. 

Nadeau added that Wintermute, a prominent market-making firm, is the primary driver behind this fee generation. The rest of the fee is attributed to bots.

He claimed that these wallets drive the network’s activity through practices such as sandwich attacks and pumping meme coins. This often comes at the expense of retail investors. 

For context, a sandwich attack is a front-running strategy in which an attacker exploits large trades. The attacker buys the asset before the large trade, anticipating a price increase, and sells afterward, profiting from the price movement while negatively impacting the original trader.

Nadeau cautioned that the reliance on a small subset of users for fee generation creates vulnerabilities. If retail traders become aware of the extent of bot-driven manipulation, they may withdraw from the ecosystem. This, in turn, could significantly impact Solana’s revenue projections.

“Nothing against Solana. Massive comeback story. But my sense tells me another period of “chewing glass” is yet to come,” he concluded.

Solana’s speed and cost efficiency have made it a favorite among developers and traders. However, this concentration of fees has raised concerns among market analysts.

“When 95% of fees come from 1.26% of users, it’s less “decentralized finance” and more “exclusive finance,” Superchargd co-founder wrote on X.

Another user also warned that Solana may not thrive well as the industry matures and free market forces fully take effect.

“Solana doesn’t have a future; it’s a Ponzi scheme designed for grifting,” he said.

Meanwhile, some questioned SOL’s inclusion in President Trump’s US crypto strategic reserve. 

“Solana is a complete house of cards built on wash trading bots and centralized control,” a user remarked.

He also emphasized that validators profiting from failed transactions and the rise of Solana meme coins have harmed the space.

The criticism comes just after financial giant Franklin Templeton predicted in a report that Solana’s DeFi ecosystem could rival—and even surpass—Ethereum’s market valuation. The firm highlighted Solana’s scalability, low fees, and surging user activity as key factors driving its potential.

Amid the mounting criticism, Solana faces a pivotal moment. While its technological advancements and cost-efficiency have earned it a loyal following, its centralized fee-generation model and reliance on market manipulation tactics could pose significant risks to its future. How Solana adapts to these concerns will determine whether it can sustain its growth or struggle to maintain relevance.

The post Solana’s Fee Structure Sparks Decentralization Concerns as 1.26% of Users Drive Majority Fees appeared first on BeInCrypto.

Layer-1 (L1) coin SUI has defied the broader market downturn, surging 4% in the past 24 hours to become the top-performing cryptocurrency.

The price surge follows news that World Liberty Financial (WLFI), a decentralized finance (DeFi) protocol affiliated with US President Donald Trump, has entered a “strategic reserve deal” with the blockchain network.

SUI’s Uptrend Gains Momentum

According to a March 6 blog post by the Sui Foundation, the developer team behind Layer-1 blockchain Sui has entered into a partnership with WLFI. The collaboration explores product development opportunities by leveraging Sui’s technology and includes integrating Sui-based assets into WLFI’s “Macro Strategy” reserve.

Following the news, SUI’s price jumped by double digits and reached a high of $3.11 on Thursday. This price hike was also fueled by news that Canary Capital filed to establish a trust entity in Delaware for its proposed Canary SUI ETF.

While it has since experienced a slight correction, Sui has continued to experience steady demand over the past 24 hours, increasing the likelihood of a sustained rally in the short term.

SUI’s Balance of Power (BoP) on the daily chart confirms this buying pressure. At press time, this indicator, which compares the strength of the bulls against the bears, is above zero at 0.18.

When an asset’s BoP climbs during a price rally, buying pressure strengthens, with bulls exerting significant control over price action. This suggests that SUI’s current uptrend has strong momentum and could potentially continue if demand remains high.

Furthermore, its rising Chaikin Money Flow (CMF) supports this bullish outlook. At press time, this indicator, which tracks how money flows into and out of an asset, posts a positive value of 0.02.

SUI’s CMF setup indicates ​more capital flows into its spot markets than out. This suggests strong accumulation and is a bullish signal, reinforcing the likelihood of continued price appreciation.

SUI Faces Key Decision Point

SUI trades at $2.79 at press time, exchanging hands slightly below the resistance formed at $3. If demand strengthens, SUI could break above this resistance and flip it into a support floor. 

A successful breach of this level could propel the coin’s price to revisit its all-time high of $5.35, last reached on January 6.

However, if this fails, it will trigger a downturn, which could cause SUI to shed its recent gains and drop to $2.10.

The post SUI Defies Market Slump with Surge Driven by Trump-Linked DeFi Deal appeared first on BeInCrypto.

The total crypto market cap (TOTAL) and Bitcoin (BTC) have struggled to recover recent losses, with global political tensions continuing to escalate. This has kept volatility high, impacting the crypto market. Ondo (ONDO) is leading the decline among altcoins, experiencing an 8% drop in the last 24 hours.

In the news today:-

• The Texas Bitcoin Reserve proposal passed the Senate with 25 out of 30 votes in favor, moving closer to becoming law. Despite some Republican defections, the bill, which does not mandate Bitcoin purchases, has garnered bipartisan support and will now proceed to the House for further approval.
• Sam Bankman-Fried, in an interview with Tucker Carlson from prison, reiterated his belief that declaring bankruptcy was a mistake and claimed FTX would have $93 billion in assets. However, his responses reflect biases, and it’s essential to consider his perspective with caution.

The Crypto Market Dips Again

The total crypto market cap lost $99 billion over the past 24 hours, currently sitting at $2.82 trillion. This decline followed a failed attempt to breach the $2.93 trillion resistance, further pressured by escalating global tensions, particularly surrounding Trump’s tariff war, which dampened market sentiment.

At present, the total crypto market cap is holding above the $2.75 trillion support level. However, the bearish sentiment persists, and if global tensions continue to rise, it could trigger further declines, potentially dropping to the $2.63 trillion support level. This would extend recent losses and further dampen investor confidence.

Despite the current downturn, a shift in broader market conditions could signal recovery for the crypto market. If TOTAL manages to breach the $2.93 trillion resistance, it could reverse the bearish trend and attempt to rise above $3.00 trillion. This would invalidate the current bearish outlook and mark the beginning of a potential rally.

Bitcoin Fails Securing Support

Bitcoin’s price is down by 4% today, trading at $87,004, just below its support level of $87,041. The broader market’s bearishness has been intense, as seen in the intra-day low of $84,667. Bitcoin’s price movement is largely influenced by this ongoing market volatility, which is hindering recovery.

If the support level of $87,041 is regained, Bitcoin may find stability and a shot at recovery. However, if Bitcoin slides further below this critical support, it could experience a decline towards $85,000 or even slide further to $82,761. This would reinforce the bearish sentiment and extend the current downtrend.

To invalidate the bearish outlook, Bitcoin must reclaim the $89,800 support level, something it was unable to achieve today. Successfully flipping this level into support could push Bitcoin’s price toward $93,625. A recovery beyond this point would indicate a shift in momentum toward the upside.

Ondo Takes A Big Hit

Ondo price has dropped by 8.6% over the last 24 hours, falling below the support level of $1.10 and currently trading at $1.02. This downturn has made ONDO the worst-performing asset of the day. The market sentiment suggests that further declines are unlikely in the near future.

Given the current market conditions, ONDO is expected to consolidate between the $1.10 and $0.96 levels. This price range has proven reliable in the past. While a major price drop seems unlikely, ONDO’s performance will largely depend on market sentiment and investor action in the coming days.

If the $1.10 support is successfully reclaimed, ONDO has the potential to rise toward $1.27. Breaching this resistance, alongside overcoming the 50-day and 200-day EMAs, could signal a shift in momentum and invalidate the current bearish outlook, paving the way for further upside potential.

The post Why Is the Crypto Market Down Today? appeared first on BeInCrypto.

Donald Trump has followed through on his promises and signed an executive order to establish a Strategic Bitcoin Reserve and a separate US Digital Asset Stockpile. 

While some industry figures have lauded the order, others remain skeptical. They argue that the initiative is little more than a rebranding of existing government holdings with no substantive new strategy.

Donald Trump Signs Order for Strategic Bitcoin Reserve

The order directs the US Department of Treasury to initially fund the Strategic Bitcoin Reserve with BTC seized through criminal and civil asset forfeiture. The administration has vowed not to sell these assets. 

“Bitcoin, the original cryptocurrency, is referred to as “digital gold” because of its scarcity and security, having never been hacked. With a fixed supply of 21 million coins, there is a strategic advantage to being among the first nations to create a Strategic Bitcoin Reserve,” the order read.

Arkham Intelligence data shows that the US government holds 198,109 BTC in its public wallets, valued at $17.5 billion at current market prices. 

Despite this substantial holding, David Sacks, the White House’s AI and Crypto Czar, noted that a comprehensive audit of the government’s digital assets has never been conducted. The new executive order mandates this accounting.

“Premature sales of Bitcoin have already cost US taxpayers over $17 billion in lost value. Now the federal government will have a strategy to maximize the value of its holdings,” he wrote.

It also authorizes budget-neutral strategies for potentially acquiring more Bitcoin. Yet, critics argue that the reserve lacks substantive impact.

Industry Experts Divided on Strategic Bitcoin Reserve

Jacob King, founder of WhaleWire, dismissed the recent attention around the reserve. 

“In reality, this has existed for over a decade—they’re just slapping a fancy title on it to appease Bitcoiners,” he remarked. 

King also pointed out that the reserve would not involve any new Bitcoin purchases. Therefore, he believes, this makes the move largely insignificant in the grand scheme of the market.

Peter Schiff, an outspoken critic of Bitcoin, also weighed in on the order. According to Schiff, the move was made under pressure from donors and conflicted cabinet members. 

He described the order as a “bogus” attempt to capitalize on the Bitcoin the government already holds.

“If they seize any more Bitcoin they can keep that too. But they can’t buy any more, as buying by definition requires a payment,” Schiff posted.

Despite the criticisms, some industry leaders see the order as a significant step toward legitimizing Bitcoin on the world stage. 

“The end game was never the US government buys all of the world’s Bitcoin,” Ryan Rasmussen, Head of Research at Bitwise, said.

Rasmussen explained that the move will likely prompt other countries to buy Bitcoin. He also expects it to pressure wealth managers, financial institutions, pensions, and endowments to adopt the cryptocurrency. 

The reserve, Rasmussen said, will alleviate concerns about the US selling its holdings and may pave the way for future acquisitions. He added that the move increases the likelihood of US states adopting Bitcoin.

Matt Hougan, CIO at Bitwise, also concurred. He pointed out that the order could significantly reduce the likelihood of future Bitcoin bans. Hougan added that the reserve,

“Accelerates the speed at which other nations will consider establishing strategic bitcoin reserves, because it creates a short-term window for nations to front-run potential additional buying by the US.”

Analyst Nic Carter also praised the decision, calling it a successful fulfillment of a key campaign promise. He highlighted that Bitcoin had received official US government approval, a distinction not granted to other cryptocurrencies. Carter emphasized that using no taxpayer funds helped shield the initiative from backlash.

“Announcement couldn’t have gone better,” he claimed.

The signing of the executive order took place just one day before the White House Crypto Summit. Initially, it was anticipated that Trump would sign the Bitcoin reserve order at the summit, which had driven Bitcoin prices up. Nonetheless, the actual signing led to a dip in the cryptocurrency’s value. 

After briefly regaining that level on March 5, Bitcoin dropped below $90,000 again. At press time, Bitcoin was trading at $87,469, marking a 4.5% decrease over the past 24 hours.

The post Bitcoin Reserve or Rebranding? The Debate Over Trump’s Latest Executive Order appeared first on BeInCrypto.

Today, over $3 billion worth of Bitcoin and Ethereum options expire. It will see over $2.5 billion worth of BTC and nearly $500 million worth of ETH contracts settled. How will the prices of both assets react?

These options’ expiry will take place at 8:00 UTC on Deribit, potentially inspiring volatility across the crypto market.

Bitcoin Faces $89,000 Max Pain in Today’s Options Expiry

Today, March 7, 29,005 Bitcoin contracts with a notional value of $2.54 billion are set to expire. According to Deribit data, Bitcoin’s put-to-call ratio is 0.67. The maximum pain point—the price at which the asset will cause financial losses to the greatest number of holders—is $89,000.

Additionally, Ethereum sees the expiration of 223,395 contracts with a notional value of $481.9 million. The maximum pain point for these contracts is $2,300, with a put-to-call ratio of 0.72. 

The maximum pain point in the crypto options market represents the price level that inflicts the most financial discomfort on option holders. At the same time, the put-to-call ratios, below 1 for both Bitcoin and Ethereum, indicate a higher prevalence of purchase options (calls) over sales options (puts).

Crypto options trading tool Greeks.live provided insights into the current market sentiment. They cited an overall bearish market sentiment, with traders expressing frustration over extreme volatility and choppy price action.

Bitcoin’s sharp intraday swings, such as recent moves of $6,000, have led to what traders describe as “scam both ways” conditions. According to analysts at Greeks.live, this makes it difficult to establish a clear directional trend.

“Most traders are watching the 87,000-89,000 range as key resistance, with 82,000 noted as a recent bottom, though there is significant disagreement on whether a sustainable bottom has been found,” wrote Greeks.live.

Further, the pronounced put skew reflects the broader pessimism, as traders continue to favor downside protection despite occasional upward moves. The analysts also observe that traders are adjusting their strategies amidst the high volatility.

“Several traders are selling calls at 89,000-90,000 range as a preferred strategy in this environment, with one trader reporting they’re at -260% on calls bought at lower levels,” Grreeks.live added.

The belief that the market is currently in a liquidity-driven phase has led to a focus on quick entries and exits. This level of caution comes as longer-term positions remain vulnerable to abrupt swings. External macro factors, such as shifting trade policies and tariff announcements, add to the uncertainty.

As a result, many traders are choosing to stay on the sidelines, waiting for clearer signals before committing to new positions.

“With markets on edge, where do you think price action will land? Above or below max pain?” Deribit posed in a post on X (Twitter).

Nonetheless, traders must remember that option expiration has a short-term impact on the underlying asset’s price. Generally, the market will return to its normal state shortly after and possibly even compensate for strong price deviations.

Traders should stay vigilant, analyzing technical indicators and market sentiment to navigate potential volatility effectively. Meanwhile, these developments come after US President Donald Trump signed the strategic Bitcoin reserve order.

Notably, the order was short of specific details, with many questions likely to be answered later during the White House Crypto Summit.

The post Over $3 Billion in Bitcoin and Ethereum Options Expire Ahead of Trump’s White House Crypto Summit appeared first on BeInCrypto.

Notable Solana meme coins to watch in March include DOGEai (DOGEAI), Official Trump (TRUMP), BONK, AI16Z, and Official Melania (MELANIA). DOGEai has surged nearly 20% in a week, capitalizing on AI and government transparency narratives.

TRUMP could see renewed interest from the White House Crypto Summit, while BONK remains the second-largest Solana meme coin despite a sharp decline. AI16Z is struggling along with the broader AI crypto sector, and MELANIA has faced heavy losses but could benefit from the upcoming political events.

DOGEai (DOGEAI)

DOGEai, an artificial intelligence meme coin, has a market cap of nearly $35 million after rising over 50% in the past two weeks. The project capitalizes on Dogecoin’s popularity, the growing interest in DOGE (Department of Government Efficiency), and the AI crypto trend.

It functions as an autonomous AI agent designed to analyze government spending and policy decisions, providing bill summaries and insights into public expenditures.

If the uptrend continues, DOGEai could challenge resistance at $0.0573, with upside targets at $0.0683 and potentially $0.098 in a strong bullish move.

On the downside, support sits at $0.048, and a breakdown below that level could send the price to $0.029 or even $0.0119.

Official Trump (TRUMP)

The upcoming Trump Crypto Summit, set for tomorrow, could significantly impact Official Trump (TRUMP), a meme coin that has been struggling below $20 for over two weeks. The event could reignite interest in the coin, which has been in a downtrend for several weeks now.

TRUMP was one of the most hyped meme coins at launch, briefly reaching a $15 billion market cap. However, it has since lost over 80% of its value and is now worth $2.7 billion.

If momentum returns, TRUMP could test resistance at $14.4, $17.4, and $20.7, with a strong rally pushing it toward $24.5 for the first time since January 31.

On the downside, continued selling pressure could bring the price to support levels at $12.17 or $11, with a break below $11, making new all-time lows.

BONK

BONK, once the largest Solana meme coin, now holds the second spot after being surpassed by TRUMP, with a market cap of around $983 million.

Despite remaining one of the most relevant Solana meme coins, its valuation has dropped significantly from its $4 billion peak in November 2024. The broader Solana ecosystem has been in a sharp correction over the past 30 days, weighing on BONK’s price action.

If Solana and its meme coins regain momentum, BONK could test resistance at $0.000014 and $0.0000156. A breakout above these levels could push the price to $0.0000197, with a strong rally potentially sending it as high as $0.0000265.

However, if the correction continues, BONK could drop below $0.000012, test $0.0000109, and possibly fall under $0.00001 for the first time since December 2023.

AI16Z

AI16Z, a Solana-based crypto AI agent meme coin, has a market cap of around $315 million. Like the broader AI agent crypto sector, it has been in a sharp correction over the past 30 days, with its price dropping nearly 30%.

Despite this downturn, some AI-related coins have shown signs of recovery in the past week, creating uncertainty around the sector’s next move.

If momentum returns to the crypto AI agents narrative, AI16Z could test resistance at $0.419, with a breakout potentially sending it to $0.627.

On the downside, if the correction continues, the price could drop to test support around $0.25, and a break below that level would push AI16Z to its lowest price since November 2024.

Official Melania (MELANIA)

MELANIA, like TRUMP, could benefit from Trump’s Crypto Summit as investors look for catalysts in political-themed meme coins. Launched on January 19, MELANIA quickly surged to a $2 billion market cap but has been in a steep decline since, dropping 50% in the last 30 days.

The coin has struggled to find support, trading below $1 for more than a week and hovering near its all-time lows.

A strong rebound could push MELANIA to $0.94 and $1.296, with further momentum driving it to $1.39 and potentially $1.61 for the first time since February 6.

On the downside, if the selloff continues, MELANIA could break below $0.795 and $0.763, with a drop under $0.7 setting new record lows.

The post Top 5 Solana Meme Coins to Watch in March appeared first on BeInCrypto.

Sam Bankman-Fried interviewed Tucker Carlson from prison. The former FTX CEO still thinks declaring bankruptcy was a bad decision, and the exchange would have $93 billion in assets from his investments.

Bankman-Fried’s answers showed that many of his beliefs have remained the same since 2022, but it’s important to remember his biases.

Sam Bankman-Fried’s First Video Interview From Prison

Sam Bankman-Fried, the infamous FTX co-founder, is reappearing in the media despite his 25-year incarceration. Last month, he conducted his first interview from prison, angling for a pardon from President Trump.

Today, Bankman-Fried sat down with Tucker Carlson for a new video interview covering a wide range of topics.

This time, however, he didn’t mention the pardon. When Carlson asked Bankman-Fried why his extensive political contributions didn’t help him avoid prison in 2022, he responded by talking about his disillusionment with the Democratic Party.

This aligns with statements made in his previous interview.

“One factor that might be relevant is, in 2020, I was center-left, and I gave a lot to Biden’s campaign. I was optimistic. By 2022, I was giving to Republicans, privately, as much as Democrats. That started becoming known right around FTX’s collapse. That probably played a role,” he claimed.

Other than that change, however, many of his crypto-related beliefs appear unchanged since the FTX collapse in 2022. For example, Carlson asked Bankman-Fried whether crypto crimes were bigger 10 years ago, and he replied that they were smaller, citing the Silk Road.

When asked if he had any liquid assets, Bankman-Fried talked about roads not taken.

“The company I used to own, had nothing intervened, today would have about $15 billion of liabilities and about $93 billion of assets. There was enough money to pay everyone back in kind at the time. Plenty of interest left over, and tens of billions left for investors. But that’s not how it worked out. It’s been a colossal disaster,” Bankman-Fried stated.

In other words, he doesn’t seem to think that his actions at FTX were wrong or fraudulent. Similarly, the Silk Road achieved widespread notoriety, but its transactions amounted to less than $200 million.

Meanwhile, crypto scams in 2025 can steal that much in one day. In other words, it’s important to remember his biases, especially since he is removed from the scene.

Carlson grilled Bankman-Fried on a few other topics, like whether crypto scams were tarnishing the industry’s reputation. For the most part, they talked about other topics, such as celebrities incarcerated with him, using muffins as “prison money,” Bankman-Fried’s upcoming birthday, etc.

The FTX founder is still trying to appeal his conviction but acknowledged that it’s a long shot.

The post Sam Bankman-Fried Claims FTX Would Have $93 Billion if Bankruptcy Was Avoided appeared first on BeInCrypto.

Cardano (ADA) is down more than 6% on Thursday but remains up nearly 40% over the past seven days. After surging to $1.15 following its inclusion in the US crypto strategic reserve, ADA has struggled to stay above $1 in recent days.

Some users are now questioning its inclusion in the reserve, raising concerns about its price. With whale accumulation slowing and resistance at $1 proving difficult to break, ADA’s next move will depend on whether bullish momentum can return or if selling pressure pushes it lower.

ADA ADX Shows The Uptrend Is Still Strong, But It’s Not As Strong As Before

Cardano has an ADX of 32.5, down from 43.7 three days ago, following a price surge driven by ADA’s inclusion in the US crypto strategic reserve.

Despite the decline in ADX, it remains above the 25 threshold, indicating that the ongoing uptrend still has strength, though momentum has slightly weakened.

The Average Directional Index (ADX) measures trend strength on a scale from 0 to 100, with readings above 25 signaling a strong trend and values below 20 suggesting weak or nonexistent momentum.

With ADA in an uptrend and ADX at 32.5, the trend remains intact but may not be as strong as it was three days ago.

If ADX continues to decline, the trend could lose momentum, leading to a potential slowdown or consolidation. However, if ADX stabilizes or rises again, ADA could maintain its upward trajectory and push toward new resistance levels.

Cardano Whales Are Not Accumulating

The number of Cardano whales – addresses holding between 1 million and 10 million ADA – has declined slightly in the past few days after a strong increase between March 1 and March 4, when it rose from 2,442 to 2,471.

The count now stands at 2,463, indicating that some large holders have reduced their positions following the recent surge. This may have been influenced by the crypto community questioning the inclusion of ADA and XRP in the US crypto strategic reserve.

Tracking these whales is important because large holders can influence market liquidity, volatility, and price trends. A rising number of whales often signals accumulation, which can drive prices higher, while a decline suggests potential profit-taking or reduced confidence.

With the current whale count slightly below its recent surge, ADA’s recent uptrend could slow if more large holders begin selling. However, if accumulation resumes, it could support continued price gains.

Will Cardano Test $1 Soon?

Cardano’s EMA lines indicate a bullish trend, with short-term EMAs positioned above long-term ones.

However, despite this positive setup, Cardano price has struggled to break above $1 in recent days after a sharp correction following its 71% surge on March 2. This suggests that while momentum remains intact, resistance at $1 is proving difficult to overcome.

If the current uptrend reverses into a downtrend, ADA could test support at $0.818, with a break below that level potentially leading to $0.75. A stronger selloff could push the price as low as $0.63 or even $0.58.

On the other hand, if ADA regains momentum, it could test $1 again, and a breakout above this key resistance could send the price toward $1.17, a level it nearly reached during the March 2 surge.

The post Cardano (ADA) Might Struggle to Retain $1 Amid US Reserve Debate appeared first on BeInCrypto.

Texas Bitcoin Reserve proposal passed a Senate vote with 25 out of 30 votes in favor. It will require another vote in the House of Representatives to reach the Governor and become law, but the progress is very encouraging.

Several other state-level reserve proposals failed due to Republican Party defections. In Texas, however, most Democrats voted in favor. This bill does not trigger mandatory Bitcoin purchases yet, which was a major sticking point with fiscal conservatives.

Texas Could Get a Bitcoin Reserve Soon

Throughout several states in the US, pro-crypto lawmakers are trying to pass small-scale Bitcoin Reserves. Texas’ effort has been a particular point of interest, and the state’s Lieutenant Governor has enthusiastically supported the proposal.

Last week, the Bitcoin Reserve bill in Texas passed through Committee, and today, it succeeded a Senate vote 25-5.

“The Texas Bitcoin Reserve Bill passed the Senate with some Democrat support. (The final vote was 25 – 5, and there are 11 Democrat Senators). If there is similar cross-aisle support in the House, then the bill’s prospects for success are good,” a legislative watchdog claimed on social media.

The effort to pass a Bitcoin Reserve in Texas has been an important piece of crypto regulation for several reasons. Obviously, Texas is a large and economically vital area, with the second-largest GDP of all US states.

Additionally, this effort represents a crucial chance to defeat a losing streak in state-level Reserve bills.

Essentially, these bills would trigger up to $23 billion in Bitcoin purchases nationwide, which thrilled the crypto community. There’s just one problem: the Republican Party values fiscal conservatism.

Montana lawmakers rejected spending tax dollars on Bitcoin, and a wave of other red states followed soon after.

Crucially, however, Texas’ Bitcoin Reserve proposal did not mandate this spending. If the state government wishes to purchase Bitcoin, ideally from the large local mining industry, it can do so.

However, approval at this stage does not inevitably trigger this sort of spending, and now Texas can join states like Utah and Arizona as the leaders in this race.

What’s Next for the BTC Reserve Bill in Texas?

Despite today’s win, the fight for a Texas Bitcoin Reserve is far from over. The bill will now move to the state’s House of Representatives, which has more than five times as many members.

More specifically, the Texas House of Representatives has 89 Republican members and 62 Democrats. In theory, this should be a clear win, as Republicans are largely pro-crypto.

However, this wasn’t the case in Montana, North Dakota, South Dakota, Pennsylvania, and Wyoming, where several Republican members voted against the respective BTC reserve bills.

The Texas bill passed the Senate with near-unanimous support, but it might be more contentious before a larger body. In any event, it’s a win, and the Bitcoin Reserve efforts could use a victory right now.

The post Texas Senate Passes Bitcoin Reserve Bill With 80% Votes in Favor appeared first on BeInCrypto.

AI coins remain a key narrative in the market, with several projects showing strong momentum despite broader sector correction. Internet Computer (ICP) has struggled over the past month, but its decentralized infrastructure could become very relevant in the AI space.

Alchemist AI (ALCH) has surged recently, benefiting from growing interest in no-code AI solutions. Story (IP) is one of the most trending AI coins, up 79% in the last 30 days, and it has the potential to reach new all-time highs if market sentiment continues to favor AI-driven projects.

Internet Computer (ICP)

The Internet Computer (ICP) is a decentralized platform that hosts secure, network-resident code and data, allowing developers to build web applications without relying on Big Tech or traditional IT infrastructure.

The platform supports a wide range of use cases, including web3 social media, games, DeFi, multi-chain applications, secure front-ends, ledgers, enterprise solutions, and AI models.

ICP is down more than 13% in the last 30 days, with its market cap now below $3 billion. If the current downtrend continues, ICP could test support at $6, and a break below that level could push it to $5.88, with a stronger selloff leading to $5.62.

On the upside, if momentum shifts and the trend reverses, ICP could test resistance at $6.82, with a breakout potentially sending it to $7.27 and $7.45.

Alchemist AI (ALCH)

Alchemist AI is a no-code development platform that allows users to create software applications using simple descriptions.

Its native coin, ALCH, runs on the Solana blockchain.

ALCH has surged more than 34% in the last 24 hours and over 54% in the past seven days, bringing its market cap to $60 million – its highest level since the end of January. If the uptrend continues, ALCH could test resistance at $0.0748, with a breakout potentially pushing it to $0.116 or even $0.18, its highest level since mid-January.

However, if momentum fades and a downtrend forms, the AI coin could test support at $0.059, with a break below that level potentially leading to $0.045. A stronger selloff could send the price as low as $0.021, marking a possible 70% correction.

Story (IP)

Story has been one of the most trending artificial intelligence coins in recent weeks, gaining 79% in the last 30 days despite the broader crypto market correction and AI coins such as VIRTUAL correcting by 50% in the same period.

Its market cap is now close to $1.3 billion, with daily trading volume around $150 million.

If AI coins regain momentum as they did a few months ago, Story could benefit and test resistance at $6.96 and $7.99, potentially surpassing $8 for the first time and reaching new all-time highs.

However, if momentum fades, Story could lose support at $5.00, with a drop to $3.60 as the next key level. A deeper correction could send the price as low as $2.12, marking a significant retracement from its recent surge.

The post Top 3 AI Coins For The Second Week Of March 2025 appeared first on BeInCrypto.