Crypto Will Strengthen US Dollar Dominance
US President Donald Trump emphasized that crypto will be a dominant force in the financial world, speaking in a pre-recorded video message at the Digital Asset Summit in New York. He stated that the crypto ecosystem will improve the banking system and accelerate growth in the US economy.
Trump said that his administration has lifted regulatory pressure on crypto and ended practices similar to “Operation Choke Point” carried out by the previous administration. However, he only outlined the current regulations, without announcing the expected new executive orders. Trump stated that the US will be a leader in crypto and new financial technologies and that this process will not be easy, but that the US is already ahead.
SEC Gives Clear Approval to PoW Mining
The US Securities and Exchange Commission (SEC) has announced that proof-of-work (PoW) mining is not subject to securities laws. This statement, which covers assets such as Bitcoin (BTC) and Litecoin (LTC), states that miners’ activities to ensure network security and verify transactions are not considered an offer or sale of securities.
According to the SEC, PoW mining is considered an administrative activity rather than an investment contract. Mining pools are also excluded from the scope of securities, and it has been clarified that these activities are exempt from additional regulatory obligations.
Senate Hearing for Paul Atkins’ SEC Chairmanship on March 27
Crypto-friendly Paul Atkins, nominated by US President Donald Trump for SEC chairman, will be questioned in the Senate on March 27. Atkins served as SEC commissioner between 2002 and 2008 and is known for his pro-crypto stance.
Atkins’ appointment process was delayed due to delays in the financial disclosure process. The SEC has recently dropped cases such as Coinbase, OpenSea, and XRP, while more than 60 spot crypto ETF applications are reportedly pending.
Canary Capital Takes First Step for Crypto ETF Including NFTs
Canary Capital has filed its first crypto ETF application with the SEC, which includes the Pudgy Penguins NFT collection. This ETF will be the first fund to directly invest in PENGU tokens and Pudgy Penguins NFTs.
The fund will also include assets such as Solana (SOL) and Ethereum (ETH), which will facilitate NFT transactions. Following the news, the PENGU token increased by 7%, while the Pudgy Penguins base price increased by 0.5 ETH. Canary Capital had previously attracted attention with its HBAR and SUI ETF applications.
Eric Trump Joins Metaplanet’s Advisory Board
Eric Trump, the son of US President Donald Trump, has joined the strategic advisory board of Bitcoin investment firm Metaplanet. The company stated that with this step, it aims to become a leader in the global Bitcoin economy.
Metaplanet CEO emphasized that Eric Trump’s experience in the business world and his interest in the Bitcoin community will contribute to the company’s growth. Following the news, Metaplanet shares rose by 17.8%, with the company reportedly holding 3,050 BTC.
OCC Ends Reputation Risk Investigations After Crypto Industry Backlash
The U.S. Office of the Comptroller of the Currency (OCC) has ended its reputation risk investigations following criticism over the exclusion of crypto firms from the banking system.
OCC Chairman Rodney E. Hood stated that the oversight processes are focused on “appropriate risk management processes.” He also announced that references to reputation risk will be removed from regulatory guidance.
The move aligns with the Trump administration’s promise to end “Operation Choke Point 2.0.” Caitlin Long, CEO of crypto-friendly Custodia Bank, emphasized that the decision was a “positive step.”
New Crypto Regulations and Debanking Measures from Australia
The Australian government has announced new regulations for crypto platforms and stablecoin providers. Large platforms will have to obtain a finance license, but small firms will be exempt.
The government is also taking steps to prevent crypto companies from being debanked by banks. It is stated that the new framework is in line with regulations in the EU and Singapore, and is expected to be presented to public opinion within the year.
TON Foundation Receives $400 Million Investment
TON blockchain, which supports the Telegram ecosystem; received $400 million investment from venture capital firms such as Sequoia Capital, Ribbit and Benchmark. Investors joined the ecosystem by purchasing Toncoin directly, instead of traditional capital.
The TON blockchain has reached over 40 million active users and 121 million Toncoin holders. Investors believe that TON will have a big impact in the crypto world thanks to its integration with Telegram.
Russia Proposes Fund for Confiscated Crypto Assets
Russian Civil Council member Evgeny Masharov has proposed using crypto assets confiscated from criminal proceeds for state benefit. The planned fund will be created to finance social, environmental and educational projects.
While Russian authorities are working on laws defining cryptocurrencies as official property, millions of dollars worth of crypto assets are being confiscated across the country. However, central bank governor Elvira Nabiullina opposes government investments in crypto.
ATAI Life Sciences to Invest in Bitcoin
Germany-based biopharmaceutical company ATAI Life Sciences announced that it will create its own Bitcoin treasury by investing $5 million in Bitcoin. The company’s chairman, Christian Angermayer, said the move is aimed at protecting against inflation and optimizing capital.
ATAI plans to expand its Bitcoin strategy in the long term, while continuing to hold sufficient cash and short-term securities for operational expenses. Although the share price rose briefly after the announcement, it fell 2.8% during the day.
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BITCOIN (BTC)
BTC is trading at $84,447 as of the morning hours with a 0.21% gain. BTC is trading at $84,402, having retreated due to selling pressure from the $86,849 resistance.
In order for the upward movement to continue, BTC needs to overcome the $84,757 resistance. If this level is broken, the $86,849 and $89,822 levels can be targeted.
In possible pullbacks, the $81,237 level is an important support. If this support is broken, a drop to $ 78,492 may be possible.
ETHEREUM (ETH)
As of the morning hours, ETH is priced at $ 1,974 with a 0.50% loss in value. ETH is trading at $ 1,974, retreating due to selling pressure from the $ 2,073 resistance.
In order for the upward movement to continue, ETH needs to maintain the $ 1,960 support and head towards the $ 2,073 level again. If this level is broken, $ 2,233 can be targeted.
In possible pullbacks, $ 1,960 stands out as an important support level. If this level is broken, ETH risks falling to $ 1,842.
RIPPLE (XRP)
XRP is trading at $ 2.42 as of the morning hours with a 0.70% loss in value. In order for the upward movement to continue, XRP needs to maintain the $ 2.4299 level as support and test the $ 2.5706 resistance again. If this level is broken, $ 2.6418 can be targeted.
In possible pullbacks, $ 2.2250 stands out as a strong support level. If this level is broken, XRP is likely to decline to $2.1243.
AVALANCHE (AVAX)
AVAX is trading at $ 18.87 levels with a 0.64% increase in value as of the morning hours. In order for AVAX to rise again, it must first maintain the $ 18.18 support and test the $ 19.89 resistance. If it remains above this level, a movement towards the $21.23 level can be expected.
If AVAX loses the $18.18 support, the $17.01 and $16.25 levels can be followed as support. In a deeper pullback, the $14 area may be critical.
SOLANA(SOL)
SOL is traded at $127 levels with a 0.12% increase in value as of the morning hours. It is trading in the $127.75 region, just below the $128.21 support level, having broken through. If the price cannot rise above the $128.21 level, the $121.77 support may be tested if the decline continues.
In the unlikely event that SOL recovers the $128.21 level with a rapid recovery, an increase towards the $136.46 – $141.07 resistance levels can be expected. If there is a strong buying reaction, the price may accelerate to $ 146.54.
