Mar 7, 2025

BTC dipped to 84K, market eyes jobs data for direction

Market overview

Donald Trump signed an executive order to establish a Bitcoin (BTC) reserve on March 7th. The US government stated that it will not sell any BTC stored in the reserve and does not plan to purchase additional BTC for now. Following this announcement, BTC immediately dropped sharply to $84,600, triggering a rapid risk release. The government’s existing 200,000 BTC holdings effectively lock up these assets, which helps reduce potential market selling pressure by $18 billion.
Meanwhile, US Federal Reserve Governor Christopher Waller stated that he strongly opposes an interest rate cut at this month’s upcoming policy meeting. However, he noted that the monetary policy outlook from the Fed’s December meeting— which projected two rate cuts this year and two next year—still seems reasonable, even if the actual outcome differs slightly. Recently, Trump’s escalation of trade tensions has increased volatility in US equities and the dollar index, which could impact inflation expectations. The market is eyeing the US February unemployment rate data for price directions.
Overall, BTC’s volatility continues to rise. Despite a sharp sell-off in US equities yesterday, BTC did not follow suit. After the conclusion of the crypto summit, BTC price trends are expected to realign with US stock market movements and interest rate expectations.
According to Elliott Wave Theory, if BTC fails to break through the critical resistance zone between $93,000 and $97,000 by March 20, the longer it remains within this range, the more likely it is to break lower. This could lead to a continued decline as it seeks a final bottom for this correction phase.

Key events

Ethereum L2 network Mint has launched the airdrop claim portal and announced the token unlock schedule.
Ethereum L2 network Movement will launch its mainnet on March 10.
DeFi oracle RedStone has announced the opening of RED token airdrop claims and staking, while also adjusting its airdrop plan to allocate an additional 2% of the total RED supply to users who were previously missed.
Layer 1 blockchain platform Sui has partnered with World Liberty Financial (WLFI), a DeFi protocol partly owned by Donald Trump, which will include SUI in its strategic token reserves. Meanwhile, WLFI co-founder Zach Witkoff tweeted that WLFI is one of Ethereum's biggest supporters and can serve as ETH’s representative at the White House crypto summit.
RWA stablecoin issuer Usual has partnered with an innovative stablecoin protocol developer, Resolv Labs, to deepen the integration of USD0 and USR, launching two new lending markets, USR/USD0 and wstUSR/USD0++, on Morpho.
According to Whale Alert, the USDC Treasury has minted 66,499,000 USDC on the Ethereum network.
Solana ecosystem's multi-signature management tool Squads has launched a Smart Accounts program, aiming to provide developers with high-performance, low-cost programmable accounts.
According to data from Defillama, the top blockchain networks with the highest net inflows in the past week were Berachain, Arbitrum, and Solana.
Asset manager Canary Capital has filed an S-1 registration with the US SEC to launch an Axelar (AXL) ETF.

Hot projects

Token		Description	Market Cap（$)
	DAKU Meme project	Der Daku is a meme project built on Solana, aiming to track down scammers through DAKU. The total token supply is close to 1 billion, with 1%-2% of tokens burned per transaction. It was fairly launched on pump.fun.	36.45 million
	A47 News Ai agent	A47 claims to be the world's first AI-powered newsagent network, using 47 AI agents to provide humorous interpretations of global political and economic events. It aims to redefine political satire and digital engagement, making A47 a leading hub for political humor, community-driven content, and decentralized media. The $A47 token unlocks premium content, voting rights, and gamified interactions.	25 million
	Avalon Stablecoin project	Avalon Labs is a leading Bitcoin stablecoin issuance platform. Its stablecoin, USDa, offers a fixed lending rate of 8%. The platform’s services extend beyond USDa, encompassing a BTC-focused collateralized lending platform, high-yield savings accounts, credit cards, and other diversified financial products.	79.42 million
	MINIDOGE Recently trending meme	Minidoge is defined as the internet’s most beloved child and is associated with Musk’s son. Users can create their own Mini Doge memes on the official website. The project has received a recommendation from KOL @Z_Humphries, who has 124,000 followers on X.	14.9 million

BTC ecosystem overview

BTC Mainnet & Fractal Bitcoin Gas Fees remain at 2 sat/byte (due to low activity) ⚡.
Inscription, Rune, and Fractal Bitcoin Leading Token Tracking:

ORDI: $10.28 (-2.73%)
DOG: $0.0018 (-8.21%)
FB: $0.84 (-4.13%)

Exchange updates

Coinbase International Exchange announced that it will launch VVV/USDT, COOKIE/USDT, and BIO/USDT perpetual contracts on or after March 13, while Coinbase Advanced has listed AI16Z/USDT, CAKE/USDT, and BRETT/USDT perpetual contracts; additionally, according to Base developer Jesse Pollak, Coinbase is exploring the possibility of offering tokenized shares of its stock, COIN, to US users.
Binance has listed RED/USDT perpetual contracts with up to 75x leverage.
Bitget has listed RED/USDT perpetual contracts with up to 50x leverage and the Launchpool project Elixir (ELX), while Bitget Wallet has integrated with the Sonic ecosystem, enabling market inquiry and trading.
Bybit has listed CPOOL/USDT and XTER/USDT perpetual contracts with up to 20x leverage and Elixir (ELX) Spot Trading.
Avalon Labs co-founder Ve has released the "Avalon Labs 2025 Roadmap – Breaking Through with Bitcoin," outlining a core strategy to integrate on-chain Bitcoin yields into traditional finance and accelerate compliance efforts.

Industry landscape

Decentralized AI network Fortytwo has completed a $2.3 million Pre-Seed funding round, led by Big Brain Holdings.
Crypto brokerage August has raised $10 million in funding, led by Dragonfly Ventures.
According to Reuters, on March 6, Donald Trump signed an executive order establishing a crypto strategic reserve that will contain only BTC, along with an inventory that includes assets other than Bitcoin.
US Texas Senate has passed SB 21, a bill aimed at creating a strategic Bitcoin reserve for the state.
YZi Labsa, a social impact fund established by Binance, has invested in the decentralized AI lab Tensorplex Labs, aiming to accelerate the combination of AI development and decentralized technology.
Crypto blockchain Seismic has raised $7 million in funding, led by a16z Crypto.
According to The Block, Japan's Liberal Democratic Party (LDP) has drafted a crypto tax reform proposal, which plans to reduce the cryptocurrency tax rate from a maximum of 55% to 20%
According to The Defiant, the Indian Income Tax Department will be granted the power to monitor personal digital activities including cryptocurrency holdings, starting in April 2026.
According to Bloomberg, fintech company Klarna is seeking to raise at least $1 billion in a US initial public offering and is set to file publicly as soon as next week.

Emerging projects

Token	Bread	COLLAT	MAG
Description	A memecoin on Solana, featuring bread crushed by life, has recently gone viral on TikTok, amassing 56.2 million likes.	Collaterize is an RWA platform designed for tokenization, trading, and transfers. It aims to connect real-world assets (RWA) while maintaining interoperability with core banking systems, permissioned networks, and decentralized applications. On February 20, its mainnet officially launched, featuring gas-free transactions, multi-asset categories, and peer-to-peer RWA transfers. A major product update is scheduled for tomorrow.	A memecoin on Solana, based on the Law of Attraction, carries a religious and cult-like theme.
Price	$0.002696	$0.03409	$0.01445
Market Cap（$）	2.3 million	34.09 million	14.45 million
Token Holders	5,037	8,616	3,518

Token	MINIDOGE	titcoin	OIL
Description	A memecoin on Solana, a fork of Dogecoin, has gained attention due to heavy promotion by KOL Zach Humphries. Additionally, its previous team had successfully driven the market cap of a past meme coin to $250 million.	A memecoin on Solana, designed as a parody of Bitcoin, frequently uses attractive women as a visual theme for its X posts.	A gaming token on Sonic, powering the first 3D game on Sonic, where players can buy land, dig wells, and earn oil rewards.
Price	$0.01411	$0.001606	$1.77
Market Cap（$）	14.11 million	1.6 million	1.4 million
Token Holders	7,275	2,762	852

Other opportunities

On-chain DeFi mining yield products:

Project Name	Mropho（Blockchain：Ethereum） ←→ Token： USDC
Project Details	Relend USDC: The Relend Boosted USDC Vault is a pre-deposit vault of the Relend Network. Users who provide USDC will receive RELEND and will have the option to access the Relend Network after its launch.
Participation Method	Participate in Relend USDC from the Mropho official website
Project Information	Mropho: A lending protocol. Morpho-Compound improves Compound by offering the same user experience, liquidity, and liquidation parameters, while its peer-to-peer matching mechanism enhances APY. Relend Network: Addresses the shortage of stablecoin liquidity in L2 by providing rUSDC to its DeFi ecosystem.
Earnings Details	Staking currency: USDC Withdrawal cycle: T+1 Annualized interest rate: 8.95% (Fluctuates; returns consist of USDC + MORPHO + Units (Relend) x10) Algorithm: USDC 7.59% + MORPHO 1.25% + Units (Relend) x10 (specific use not yet disclosed)
Product Data	Token: USDC Total deposits: $40.03M Liquidity: $39.07M 7-day yield: 10.41%

Risk: Investors should proceed with caution and conduct their own research.

Disclaimer

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