The First White House Cryptocurrency Summit Explores Divisions and Consensus Amid Market Panic | Market Insights by Hotcoin Research: March 3 — March 7, 2025

Cryptocurrency Market Performance

Currently, the total cryptocurrency market capitalization stands at $2.85 trillion, with BTC accounting for 60.4% ($1.72 trillion). The stablecoin market capitalization is $227.3 billion, reflecting a 1.02% increase over the past seven days, with USDT holding a 62.98% dominance.

This week, BTC traded within a range, currently priced at $85,772, while ETH also remained range-bound at $2,134.

Among the top 200 projects on CoinMarketCap, most experienced declines while a few saw gains:

• S: -28.94% (7-day drop)
• BERA: -25.49% (7-day drop)
• AI16Z: -41.04% (7-day drop)
• ADA: +26.88% (7-day increase)
• BCH: +18.46% (7-day increase)

This week, U.S. spot Bitcoin ETFs saw a net outflow of $699.1 million, while U.S. spot Ethereum ETFs recorded a net outflow of $82.7 million.

On March 8, the Fear & Greed Index stood at 28, reflecting an increase from last week. Market sentiment over the past week included: 2 days of extreme fear, 5 days of fear.

Market Forecast: This week’s market remained range-bound, with price movements influenced by macroeconomic fundamentals. Stablecoins recorded slight growth, and outflows from U.S. spot Bitcoin and Ethereum ETFs were lower than last week. Although market sentiment showed slight improvement, fear still dominates overall market conditions.

On a more positive note, the first-ever cryptocurrency summit was held at the White House, bringing together industry leaders to discuss key issues such as SEC regulatory frameworks, stablecoin compliance, and insurance funds for centralized exchanges (CEXs). The discussions were highly formal, indicating that while the path to regulatory clarity remains long, optimism persists. In the short term, the market is expected to continue trading within a range until a clear signal of interest rate cuts enables liquidity to flow back into the crypto sector.

Weekly Key Events

1. March 2: According to F2pool data, based on the current Bitcoin mining difficulty, a BTC price of $85,580, and an electricity cost of $0.06/kWh, mining rigs such as Antminer S19, WhatsMiner M33S+, and WhatsMiner M30S+ have reached breakeven price levels.
2. March 2: Bitrace monitoring revealed that as of 5:00 PM on March 2, USDT issuer Tether and USDC issuer Circle had frozen at least five Ethereum and Tron addresses linked to the Bybit hacker, successfully intercepting over 760,000 USDT and USDC.
3. March 2: Donald Trump posted on social media, stating: After years of suppression under the Biden administration, the U.S. will boost its cryptocurrency reserves to elevate this crucial industry. My executive order directs the presidential task force to advance a strategic reserve including XRP, SOL, and ADA. I will ensure the U.S. becomes the global cryptocurrency capital. We are making America great again!”
4. March 3: Coinbase co-founder and CEO Brian Armstrong commented on Trump’s cryptocurrency reserve initiative, arguing that Bitcoin might be the best choice as a successor to gold. If diversification is necessary, a market-cap-weighted index could maintain neutrality, but choosing Bitcoin alone would be the simplest and most effective option.
5. March 4: Trump announced that he would impose tariffs on countries engaging in currency devaluation, a move expected to impact global trade dynamics.
6. March 4: The SEC announced a series of roundtable discussions under the initiative “Spring Sprint: Towards Crypto Regulatory Clarity.” The first discussion, titled “How We Got Here and How to Move Forward — Defining Securities Attributes,” is scheduled for March 21.
7. March 5: The U.S. Senate passed the Congressional Review Act (CRA) by a vote of 70–27, repealing the so-called “DeFi Broker Rule,” a last-minute regulatory measure targeting the crypto community.
8. March 4: Aave DAO service provider Marc Zeller proposed governance updates to Aavenomics, including changes to AAVE tokenomics, redistribution of protocol surplus income, deprecation of LEND tokens, and updates to AAVE secondary liquidity management.
9. March 5: Asset management firm VanEck emphasized that Solana’s planned protocol upgrades are crucial for long-term network health but may negatively impact validator income. Solana validators will vote on two SIMD proposals in March regarding staking rewards and SOL inflation adjustments.
10. March 6: Trump’s crypto initiative WLFI transferred $25 million in USDC to a single contract, which subsequently purchased $10 million in ETH, $10 million in WBTC, and $1.5 million in MOVE.
11. March 6: Mt. Gox executed a test transaction of 166.5 BTC to BitGo, followed by a transfer of 12,000 BTC (valued at approximately $1.09 billion) to an unknown address.
12. March 8: The first White House Cryptocurrency Summit was held at 2:30 AM, attended by executives from Coinbase, Chainlink, Exodus, and Strategy, among others.

Macro Economy

• March 4: Yuga Labs announced that the SEC has officially ended its three-year investigation, marking a significant victory for the NFT industry and its creators.
• March 7: The SEC has dismissed or suspended lawsuits against 11 crypto firms and individuals, including Binance, Coinbase, OpenSea, and Kraken.
• March 7: CME’s “FedWatch” tool showed a 9% probability of a 25-basis-point rate cut in March, with a 91% probability of maintaining current rates. By May, the probability of a total 50-bps rate cut is 4%, a 25-bps cut is 45.3%, and no change is 50.7%.
• March 3: European stock markets rallied, with Germany’s DAX index up 3% and other major indices gaining over 1%.
• March 4: Japan’s 30-year government bond yield rose to 2.37%, the highest level since October 2008.

ETF Movements

From March 3 to March 7:

• U.S. spot Bitcoin ETF net outflow: $699.1 million
• GBTC (Grayscale) total outflow: $22.375 billion, with current holdings of $17.02 billion
• IBIT (BlackRock) current holdings: $49.792 billion
• U.S. spot Bitcoin ETF total market value: $100.76 billion
• U.S. spot Ethereum ETF net outflow: $82.7 million

Future Outlook

Upcoming Events

• Digital Asset Summit 2025: March 18–20, New York, USA
• Southeast Asia Blockchain Week 2025: March 30 — April 5, Bangkok, Thailand
• 2025 Hong Kong Web3 Carnival: April 6–9, Hong Kong Convention and Exhibition Centre

Key Token Unlocks

• GMT (GMT): Unlocking 85.97 million tokens on March 9 ($4.51 million, 1.43% of circulation)
• Cheelee (CHEEL): Unlocking 11.85 million tokens on March 10 ($93.82 million, 1.18% of circulation)
• Sei (SEI): Unlocking 224 million tokens on March 15 ($50.37 million, 2.25% of circulation)

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Risk Disclaimer

The cryptocurrency market is highly volatile, and all investments carry inherent risks. We strongly advise investors to thoroughly assess these risks and adhere to a strict risk management framework to safeguard their funds.

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