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10. März 2025

Utah lawmakers approve amended Bitcoin bill

The state of Utah has passed its Bitcoin bill, but has dropped the Bitcoin reserve plan
The approved bill protects mining, staking, and self-custody rights
The bill now awaits Governor Cox’s signature, after which it will become effective starting May 2025

On March 7, 2025, Utah lawmakers took a significant step toward integrating cryptocurrency into the state’s legal framework by passing its amended Bitcoin bill.

Notably, though, HB230, the “Blockchain and Digital Innovation Amendments” bill, no longer includes its original groundbreaking provision to establish a state Bitcoin reserve. Approved by the Senate in a 19-7-3 vote, it focuses on fostering a supportive environment for blockchain technology and protecting residents’ rights to engage with digital assets.

The bill now awaits the signature of Governor Spencer Cox, who has not yet indicated his stance. If signed into law, it will take effect on May 7, 2025. This will make Utah a progressive player in the US cryptocurrency landscape, even without the reserve clause that once promised to make it a pioneer.

The Bitcoin reserve contention

Initially introduced by Representative Jordan Teuscher and sponsored in the Senate by Senator Kirk A. Cullimore, HB230 aimed to position Utah as the first US state to hold Bitcoin in its treasury.

The original proposal allowed the state treasurer to invest up to 10% of certain public funds in Bitcoin (BTC), a move that could have involved millions from accounts like the General Fund and Budget Stabilization Fund. This clause survived earlier votes, raising hopes among crypto advocates, but it failed to pass the third reading.

During the third and final Senate reading, lawmakers stripped the reserve provision from the bill, and Senator Cullimore acknowledged the change on the Senate floor, citing concerns over Utah being an early adopter of such a bold financial policy.

The House later concurred with the amendment in a 52-19-4 vote, reflecting a cautious retreat from the state-managed Bitcoin investment idea.

Approved bill protects Utah crypto holders

Despite removing the reserve clause, HB230 retains significant provisions that bolster Utah’s blockchain ecosystem.

The approved legislation ensures residents can self-custody their digital assets without state interference, a key win for individual freedom in the crypto space. It also safeguards the right to mine Bitcoin, operate blockchain nodes, and participate in staking—activities central to the decentralized nature of cryptocurrencies.

These measures aim to empower Utahns and attract blockchain innovators to the state. By clarifying legal terms related to digital assets and prohibiting restrictive regulations, the bill lays a foundation for growth in this emerging sector.

Supporters argue that the bill balances innovation with safety, positioning Utah as a potential hub for crypto-related businesses.

25 out of 31 Bitcoin reserve bills remain active in the US

Utah’s legislative journey mirrors a nationwide push toward Bitcoin integration. While the state stepped back from its reserve ambitions, Arizona and Texas are advancing similar bills, having passed Senate committee votes.

According to Bitcoin Laws data, 25 of 31 introduced Bitcoin reserve bills across the US remain active, with states like Illinois and New Hampshire also in the race.

On the federal level, President Donald Trump signed an executive order on March 7, 2025, creating a Strategic Bitcoin Reserve using seized assets. This move, paired with plans for budget-neutral acquisitions, underscores a growing acceptance of Bitcoin (BTC) at both the state and national levels.

Utah’s amended bill, while less ambitious, aligns with this trend by prioritizing citizen participation over direct state investment.

The post Utah lawmakers approve amended Bitcoin bill appeared first on CoinJournal.

7. März 2025

Bitcoin Pepe raises $4M as Trump-linked memecoin rakes in $350M for creators

Bitcoin Pepe aims for Meme Layer-2 on Bitcoin with PEP-20.
TRUMP memecoin earned $350M for its creators, with 80% owned by Trump affiliates.
Regulatory push grows as memecoins spark profit and manipulation concerns.

The cryptocurrency world is buzzing with the rise of memecoins tied to high-profile figures and innovative concepts. Among the currently trending memecoins are Official Trump (TRUMP), themed after President Donald Trump, and Bitcoin Pepe (BPEP), which brings memecoins to Bitcoin blockchain.

Bitcoin Pepe has raised over $4 million in its ongoing presale, the “World’s Only Bitcoin Meme ICO,” while a Financial Times report shows that the Official Trump (TRUMP) memecoin, has reportedly generated a staggering $350 million for its creators.

Bitcoin Pepe seeks to build a meme empire on Bitcoin

Amid the memecoin frenzy, Bitcoin Pepe is carving its own niche, raising $4,029,822 in its ongoing presale. Dubbed a “Solana on Bitcoin,” this project aims to create a Meme Layer-2 for Bitcoin, boasting instant transactions and ultra-low fees via its PEP-20 token standard.

Currently in its sixth presale stage out of thirty presale stages, the Bitcoin Pepe (BPEP) token is its going for $0.0268 and it is set to rise to $0.0281 in the next phase.

Post-presale Bitcoin Pepe’s vision is ambitious: enabling memecoin creation on Bitcoin, which it calls “the only chain that will live forever.” Its whitepaper, roadmap, and team details are accessible on its site, alongside a SolidProof audit for credibility.

Bitcoin Pepe’s appeal lies in its simplicity and promise. The project’s branding—replete with giveaways and a “Watch Bitcoin Pepe’s Birth” video—taps into meme culture while leveraging Bitcoin’s enduring reputation, setting it apart from flash-in-the-pan tokens.

As Trump’s memecoin saga unfolds with regulatory clouds looming, Bitcoin Pepe offers a grassroots counterpoint.

Official Trump (TRUMP) has raked in millions

The TRUMP memecoin, launched just days before Donald Trump’s White House return on January 20, 2025, has become a financial juggernaut.

According to the Financial Times report dated March 7, entities behind the token—tied to The Trump Organization’s CIC Digital and Fight Fight Fight LLC—earned at least $314 million from token sales and $36 million in fees on the Solana blockchain. Together, these groups hold 80% of the 1 billion minted TRUMP tokens, though Trump’s personal profit remains undisclosed.

The project kicked off with 200 million tokens released initially, with the remaining 800 million slated for distribution over three years. Early sales saw 100 million tokens offloaded for under $1.05 each, but prices soared to a peak of $75 by January 19.

However, the launch of Melania Trump’s MELANIA memecoin triggered an 82% price drop, prompting Trump-linked accounts to spend $1 million stabilizing the market by buying tokens at $33.20.

Analysts suggest that market manipulation may be at play. The Financial Times tracked $291 million in USDC reinvested into liquidity pools to prop up TRUMP’s value, alongside 14.7 million tokens sent to exchanges like Binance and Coinbase.

Despite the crash, the 831 million tokens still held by Trump affiliates carry a notional value of $10.8 billion, underscoring the memecoin’s outsized impact.

The phenomenon has sparked regulatory scrutiny with Representative Sam Liccardo proposing banning officials from such ventures, while New York Assembly member Clyde Vanel introduced a bill on March 5 to penalize memecoin rug pulls.

Yet, with the SEC deeming memecoins outside securities laws, oversight remains murky, leaving investors vulnerable amid the hype of 700 copycat tokens.

The post Bitcoin Pepe raises $4M as Trump-linked memecoin rakes in $350M for creators appeared first on CoinJournal.

4. März 2025

Bitcoin Pepe emerges as a possible go to altcoin as crypto market bleeds

The crypto market has crashed, losing $1.01 billion in liquidations.
Bitcoin (BTC) has plunged below $84k while altcoins like ETH and SOL have slumped 15-20%
Bitcoin Pepe’s presale offers a compelling alternative with the price set to rise from $0.0255 to $0.0268 in next presale stage.

The crypto market is reeling from a brutal wave of liquidations. Over $1 billion in leveraged positions have vanished in the last 24 hours, according to Coinglass data.

The liquidations have hit traders hard across major exchanges. Bitcoin alone accounted for $396.16 million in wiped-out positions. Ethereum saw $209.58 million evaporate, and Solana’s liquidations reached $70.55 million. Even meme coins weren’t spared—Dogecoin saw over $20 million in liquidations.

The crypto market erased gains made earlier this week

Bitcoin (BTC) has plummeted below $84,000 gain, shedding nearly 10% of its value in a single day. The tumble has reversed its rally past $95,000 earlier this week. It has hit an intraday low of $82,467.24 before stabilizing slightly above $83k.

Ethereum (ETH) followed suit, diving 15% to $2,089, while altcoins like Solana (SOL) and XRP cratered by 20% and 18%, respectively. Cardano (ADA) also plunged 25% to $0.7998 as a majority of the other altcoins bore the blunt of the bloodbath.

Meme coins were not spared either. Shiba Inu (SHIB) and Pepe Coin (PEPE) have dropped 13% and 18%, respectively, while Sonic (S) and Trump-backed tokens have shed 23% to 25,% respectively. It seems the high-risk corner of the market faced unrelenting exits as fear gripped traders.

Notably, the crypto market carnage mirrors a broader market slump, with the global crypto market cap tumbling 10% to $2.76 trillion.

What is causing the crypto market to drop?

Investors blame CME futures gaps and thinning liquidity for the sudden crypto market drop. Analysts point to liquidity gaps and leveraged bets gone wrong as the culprits.

Trump’s talk of a strategic crypto reserve couldn’t shield the market from broader economic tremors; the selloff has erased gains sparked by optimism over President Donald Trump’s pro-crypto moves.

Besides the liquidity gaps, economic factors are also to blame for the crypto crash. Trump’s new 25% tariffs on imports from Canada and Mexico have sparked trade tensions.

Canada and Mexico supply a third of US goods, and the tariffs threaten growth and stoke inflation fears.

Following the introduction of the tariffs, American stocks also tanked alongside crypto, with the Dow Jones falling 650 points. The VIX index also jumped to 22, signaling rising market panic.

Historically, cryptocurrencies falter when fear dominates, pushing investors to the sidelines.

Bitcoin Pepe emerges as a haven for crypto investors

Amid this chaos, Bitcoin Pepe stands out as a bold contender. Pitched as the “World’s Only Bitcoin Meme ICO,” blending Bitcoin’s durability with meme coin flair, the project aims to build a Meme Layer-2 for Bitcoin, promising instant transactions and ultra-low fees. Its PEP-20 standard lets users launch memecoins on Bitcoin’s blockchain.

Unlike the currently bleeding altcoins and memecoins, Bitcoin Pepe is currently in its presale stages, which are structured to ensure the price rises with each presale stage progression.

The presale is gaining traction despite the market rout. Currently in stage 5 of 30, the presale has raised $3,690,133. The current price sits at $0.0255 and is set to rise to $0.0268 in the next stage.

The project’s smart contract has already been audited by SolidProof, offering a glimmer of credibility in a sea of uncertainty.

Interested investors can connect wallets and buy in, betting on its vision of “Solana on Bitcoin” as a lifeline. The project’s whitepaper and roadmap pitch a future where meme coins thrive on the “only chain that will live forever.”

The post Bitcoin Pepe emerges as a possible go to altcoin as crypto market bleeds appeared first on CoinJournal.

27. Februar 2025

iDEGEN hits public shelves with momentum as crypto prices crash

AI meme crypto market has grown to a market cap of $2.4 billion, and iDEGEN is set to take its rightful position on the table. After three months in the presale stage, it has hit the public shelves with the same viral momentum.

Its early adopters are set to continue reaping big from the project as the uncensored AI agent revolutionizes the crypto space. In addition to the 300,000% gains already locked in, its value may surge by at least 10X in coming months. This is despite the selling pressure current felt across the crypto majors.

Ripple price chart pattern hints at further selling pressure in the short term

After trading steadily above the support zone of $2.5000 in the past one week, Ripple price has plunged by about 16% since Monday. Similar to other crypto majors, the altcoin is under pressure as extreme fear grips the broader market.

A look at its daily chart points to the formation of a bearish death cross pattern as the short-term 25-day EMA crosses the 50-day EMA to the downside. In the near term, the range between $2.0000 and $2.3357 is worth watching. For a firm trend reversal, the bulls will need to gather enough momentum to rebreak the resistance at $2.5500.

iDEGEN debuts on Raydium with the same viral momentum

iDEGEN has hit the public shelves as promised; ending the three-month-long presale. It has debuted on Raydium, a Solana-based DEX and is set to also list on BitMart on 4th March.

What started on a blank slate ready to learn from the crypto degens on X has grown into an ultra-popular AI crypto with the potential to compete with other AI meme coins like AI16Z, Hamster Kombat, and Fartcoin.

In three months, it has managed to raise $25 million. This has been made possible by its aggressive community, apt timing, and booming AI crypto market. If the presale is anything to go by, its viral momentum is set to yield growth of atleast 10X in the coming months. At its last stage price of $0.038, its early adopters are already enjoying returns of upto 300,000%.

Bitcoin spot ETF records streak of outflows as tariff jitters persist

Bitcoin price

Concerns over the impact that Trump’s trade policies will have on the US economy have triggered a shift in the market sentiment. Compared to last week’s neutral level of 49, the crypto fear & greed index is now at an extreme fear level of 10.

With the resultant plunge in Bitcoin price, Bitcoin spot ETFs have seen persistent outflows as its institutional demand falls. According to SoSoValue, Bitcoin spot ETFs recorded daily total outflows of $754.53 million on Wednesday. Notably, the trend has been on for 7 sessions in a row.

On its daily chart, the bearish death cross pattern points to continued selling pressure in the short term. At its current level, the bulls will be keen on defending the support at $81,600. A subsequent correction may have it rebound past $85,000 to find resistance at $90,000.

The post iDEGEN hits public shelves with momentum as crypto prices crash appeared first on CoinJournal.

25. Februar 2025

Weekly price analysis: prices range on uncertain economic outlook

Crypto prices traded within a range last week as crypto takes is relegated to the back burner in the wake of economic uncertainties
Exchange-traded fund (ETF) inflows were negative as Bitcoin ETFs logged net outflows of $62.9 million while Ethereum ETFs logged $8.9 million in outflows

Bitcoin

Bitcoin’s price action continued trading rangebound, with weekly highs and lows of $99,509 and $93,331, as uncertainty looms around inflation, US President Donald Trump’s policies, and geopolitical events.

Zooming out, we see that price action has ranged at the daily support level for the last three weeks as current market conditions lack sufficient catalyst to push prices to new highs.

Open interest mimics price action as the week began with a reduction in the volume of open contracts which picked up on Wednesday, February 19, congruent with price action.

CME BTC Futures Open Interest (USD) chart by Coinglass

Outlook

Bitcoin must remain above the daily support of $90,673 to remain in bullish territory. A close below this level on the daily time frame could trigger a fall to the $84,000 level.

Meanwhile, market sentiment has cooled significantly over the last month and is in neutral territory.

Bitcoin trades at $87,900 as of publishing.

Ethereum

Ethereum’s price action ranged last week logging a weekly high and low of $2,848 and $2,604 despite last week’s news of the Bybit hack.

Zooming out, we see a bleaker picture as ETH has been trending lower since December 09 after failing to break above its March 2024 high.

Open interest data shows a steady rise in contract volume throughout the week though price traded rangebound.

Binance ETH Futures Open Interest (USD) chart by Coinglass

Outlook

We reckon the next major support zone for ETH is the $2,500 level which has proven to be a strong liquidity level in the past.

ETH trades at $2,384 as of publishing.

Solana

Like Ethereum, Solana’s price has been declining since it failed to swing higher and form new candles above the last all-time high on the daily time frame.