Odaily Planet Daily News On March 7, according to SoSoValue data, affected by factors such as Trump's signing of an executive order to establish a strategic reserve of Bitcoin that failed to meet expectations, the crypto market sector fell again. Bitcoin (BTC) fell 4.21% in 24 hours, once falling below the $85,000 mark, and Ethereum (ETH) fell 4.72% to below $2,200. In addition, the ETF Candidates sector fell 4.07%, and within the sector, Cardano (ADA) fell 11.77%. In other sectors, the CeFi sector fell 1.35% in 24 hours, and Bitget token (BGB) in the sector was relatively strong, rising 1.20%; the PayFi sector fell 2.11%, the Layer2 sector fell 3.10%, but Movement (MOVE) rose 6.62% against the trend; the Meme sector fell 3.97%, and the Layer1 sector fell 4.01%, among which Sui (SUI) rose 3.11% against the trend; the DeFi sector fell 5.42%, and Ethena (ENA) in the sector rose 6.92% against the trend. In addition, the crypto sector index that reflects the historical market conditions of the sector shows that the ssiRWA, ssiDeFi, and ssiMAG7 indexes fell 6.21%, 5.47%, and 3.79% in 24 hours, respectively. It is worth mentioning that the weekly returns of the ssiMAG7 and ssiPayFi indexes reached 6.20% and 14.17%, respectively.

Odaily Planet Daily News: US Senator Cynthia Lummis, who promotes Bitcoin strategic reserve legislation, said that the Trump administration's executive order is just the beginning, suggesting that more relevant policies may be introduced in the future to promote the role of Bitcoin in national reserves.

Odaily Planet Daily News Coinbase CEO Brian Armstrong said on the X platform that the US government's move on Bitcoin reserves is of historic significance, and said that the Trump administration has excellent execution in this regard. He expects that many G20 countries will pay attention to and eventually follow the US leadership.

Solana co-founder and CEO Anatoly Yakovenko is the first person to say no to the idea of a crypto reserves, expressing the potential dangers of centralisation if a government body were to take control over certain cryptocurrencies.

Odaily Planet Daily News Cardano Foundation announced a partnership with SERPRO, the world's largest state-owned IT company, to promote the application of Cardano blockchain in Brazilian government infrastructure. The cooperation aims to improve the security, transparency and efficiency of digital services in government systems.

Odaily Planet Daily News Bybit officially announced that Pell Network (PELL) will be officially launched for pre-market trading at 9:00 (UTC) on March 7.

Odaily Planet Daily News According to the official announcement, BitMart will launch Elixir (ELX) at 18:00 (Eastern Time Zone 8) on March 7, and the ELX/USDT trading pair will be launched. Elixir is a blockchain project focusing on DeFi and liquidity solutions. It aims to provide efficient liquidity support for DEX, and its protocol has a TVL of more than 300 million US dollars. In addition, the protocol also introduces a synthetic US dollar stablecoin called deUSD, which maintains stability through a "delta neutral strategy" and earns income through financing interest rates.

According to BlockBeats, on March 7, prominent trader Eugene Ng Ah Sio shared insights on Ethereum's market behavior. He noted that he has taken a short position on Ethereum at $2,170, expressing surprise at the market's lack of response to what he described as a 'nuclear drop.' Ng Ah Sio mentioned that while a significant announcement is unlikely later today, he is taking advantage of the current situation. He further explained that the fundamental outlook suggests Ethereum will eventually fall below $2,000. However, he clarified that his current position is a minor profit-taking move.

Odaily Planet Daily News: The SEC official website shows that 21Shares has submitted an updated version of its spot Polkadot ETF S-1 application to the US SEC.

Bitcoin price started a recovery wave from the $85,000 zone. BTC is back above $87,500 and might struggle to clear the $92,000 resistance zone. Bitcoin started a fresh upward move from the $85,000 zone. The price is trading below $90,000 and the 100 hourly Simple moving average. There is a short-term contracting triangle forming with resistance at $89,650 on the hourly chart of the BTC/USD... source: https://www.newsbtc.com/analysis/btc/bitcoin-price-in-limbo-92k/

Odaily Planet Daily News Galaxy Digital Research Director Alex Thorn wrote on X: "We believe that the current balance of Bitcoin available for the US government to use as a strategic reserve is at most 88,000 BTC, which only accounts for 43% of the current government holdings. This is because 112,000 BTC of the approximately 198,000 BTC currently held by the US government will be returned to Bitfinex." Odaily Note: The large amount of BTC held by the US government comes from the investigation of the Bitfinex theft case that year. The original case occurred in August 2016, and about 120,000 BTC were lost during the theft. Bitfinex is trying to recover this part of BTC, and it is expected that a lengthy legal process will still be required in the future.

Trump signed an executive order at 8 a.m. Beijing time on March 7, 2024 to establish a strategic Bitcoin reserve and digital asset reserve, marking the official inclusion of Bitcoin into the national strategic asset system by the United States.

US President Donald Trump has signed an executive order to establish a strategic Bitcoin reserve.

Only when this series of agents are powerful at the same time and a huge system framework is established, a true DeFai revolution will be launched.

Golden Finance launches "Golden Web3.0 Daily" to provide you with the latest and fastest MEME, DeFi, DAO, NFT and Metaverse industry news.

The entry of Ripple, Solana, and Cardano has divided the industry.

In the process of exploring cryptocurrency regulation, the Canadian government has built a governance system that balances risk prevention and control with technological inclusion through progressive legislation and penetrating supervision.

AI Agent, a brief analysis of AMMO White Paper: AI Agent narrative needs to be upgraded Golden Finance, the market is waiting for the birth of an innovative "singularity".

Since the project owner has already planned to stand against the community and kneel to capital, the community's scolding will not wake up a project owner who has no bottom line and no integrity.

Recommended reading for today's evening: 1. a16z: How to distinguish between network tokens and company-supported tokens; 2. From Hong Kong to Denver, Ethereum is entering the "Dunkirk moment"; 3. Monetary policy analysis - from "sound" to "moderately loose";