Day Trading Reports
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Day Trading Reports

Investing

Crypto Market Recap: Bitcoin to Hold “Special Status” in US Reserve, Pectra Test Launch Hits Snag

by admin March 6, 2025
March 6, 2025
Crypto Market Recap: Bitcoin to Hold “Special Status” in US Reserve, Pectra Test Launch Hits Snag

Here’s a quick recap of the crypto landscape for Wednesday (March 5) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

Bitcoin (BTC) is currently trading at US$90,372.22, reflecting a 4 percent increase over the past 24 hours. The day’s trading range has seen a high of US$90,468.07 and a low of US$87,736.82.

Ethereum (ETH) is priced at US$2,231.25, marking an increase of 4.3 percent over the same period. The cryptocurrency reached an intraday high of US$2,232.93 and a low of US$2,168.29.

Altcoin price update

  • Solana (SOL) is currently valued at US$145, up 2.7 percent over the past 24 hours. SOL experienced a high of US$145.84 and a low of US$140.61 during Wednesday’s trading session.
  • XRP is trading at US$2.50, reflecting a 2.1 percent increase over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.51 and a low of US$2.43.
  • Sui (SUI) is priced at US$2.67, showing a 7.2 percent increase over the past 24 hours. It achieved a daily high of US$2.68 and a low of US$2.46.
  • Cardano (ADA) is trading at US$0.9882, reflecting a 9 percent increase over the past 24 hours. Its highest price on Wednesday was US$0.9956, with a low of US$0.937.

Crypto news to know

Bitcoin’s ‘special status’ in US crypto reserve

In a Wednesday interview with the Pavlovic Today, US Commerce Secretary Howard Lutnick clarified that Bitcoin will have “special status” in a planned national cryptocurrency reserve.

The reserve will hold a basket of cryptocurrencies, including ETH, SOL, ADA and XRP. Lutnick said the Trump administration will likely reveal more details at the upcoming White House Crypto Summit.

The Trump administration has faced criticism since it announced its intention to create a reserve that includes cryptocurrencies other than Bitcoin. Industry insiders, including Coinbase and Gemini CEOs Brian Armstrong and Tyler Winklevoss, have argued that Bitcoin is the only cryptocurrency that meets the criteria of a reserve asset.

Ethereum’s Pectra upgrade faces second setback

After initially announcing the successful deployment of Ethereum’s Pectra upgrade on its final testnet, Sepolia, Ethereum blockchain developer Tim Beiko reported a technical issue that caused transaction processing software to malfunction, leading to the creation of blocks without any transactions.

The Wednesday issue marks the second setback in the process of the Pectra upgrade, which is anticipated to improve Ether staking, layer-2 network scalability and overall network capacity.

During a test run of the Pectra upgrade on the Holesky test network on February 24, a mistake in how the computers that validate transactions were set up caused the network to split into two separate, conflicting versions.

The estimated time to resolve the issue and successfully implement the upgrade on the test network is approximately 18 days. More information, including a possible final date of the Pectra mainnet implementation, is expected during Ethereum’s All Core Developers call on Thursday (March 6).

Senate passes IRS resolution

The US Senate voted 70 to 27 to pass a resolution to repeal a Biden-era rule requiring decentralized finance protocols to report to the Internal Revenue Service (IRS) and brokers to disclose gross proceeds from crypto sales.

The issue was brought forward by Senator Ted Cruz (R-TX) on January 21.

The resolution will now move to the House of Representatives. If it passes a vote there, it will be sent to President Donald Trump for his signature. David Sacks, the Trump administration’s artificial intelligence and crypto czar, has already said the White House supports the resolution.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Trump could scale back Canada, Mexico tariffs Wednesday, Lutnick says
next post
Lac Carheil Graphite Project Awarded Grant Funding

Related Posts

Copper and Consequences: US Tariffs Stir Uncertainty in...

April 15, 2025

Crypto Market Recap: Loopscale Faces US$5.8 Million Hack,...

April 30, 2025

Tech 5: OpenAI Restructures, Apple Pursues AI Search,...

May 11, 2025

Drilling Underway at Lac Carheil

February 28, 2025

CNN Fear and Greed Index Plunges to Lowest...

April 12, 2025

Charbone Hydrogene signe une entente de conditions pour...

May 2, 2025

First Helium Completes Drilling 7-30 Well & Cases...

January 31, 2025

Metals Focus: PGMs Deficits Deepen as Supply Tightens...

May 21, 2025

Lodgement of CONNEQT Pulse Device with the TGA

May 6, 2025

Inca Declares Takeover Offer for Stunalara Unconditional

March 27, 2025

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Forum Energy Metals and Global Uranium Announce Exploration Update on Drill Targeting, Northwest Athabasca Project, Saskatchewan

      January 31, 2025
    • 2

      Mega M&A: Rio Tinto-Glencore Merger Sparks Chatter

      January 28, 2025
    • 3

      Excellent 90% recoveries at Cork Tree Well & Board Update

      February 17, 2025
    • 4

      Financial Agreement signed releasing $2M grant

      January 23, 2025
    • 5

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 6

      Cyclopharm Signs US Agreement with HCA Healthcare for Technegas®

      January 23, 2025
    • 7

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: daytradingreports.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 daytradingreports.com | All Rights Reserved