Cryptonewss

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Investors Fear Further Declines
Solana's (SOL) price has been under heavy selling pressure in recent weeks. Investor fear is growing as the broader crypto market declines and Solana struggles with ecosystem issues. Despite surviving previous bear markets, the recent price action raises serious concerns.
SOL has dropped nearly 50% from its 2024 peak of $264, with a 40% decline in the past month and an additional 15% loss in the past week. While the overall market crash played a role, internal factors within the Solana ecosystem have also contributed. So, what’s next?
Solana Recovers Slightly, But Investor Sentiment Remains Bearish
After hitting a four-month low of $134.69, Solana’s price has slightly recovered, now trading at $142.39, gaining 1.5% in the past 24 hours. However, investor sentiment remains overwhelmingly bearish.
According to crypto analyst Ali Martinez, Glassnode’s Net Unrealized Profit/Loss data shows that SOL investors have shifted into a phase of fear, following months of greed and optimism. This negative shift is also reflected in trading volume, which has dropped 18% to $13 billion.
Several analysts confirm the bearish outlook, with one stating:
"You can scalp a quick 1-2% profit at this price, but if this support breaks, SOL could drop to $80."

Why Did Solana's Price Drop?
The broader crypto market crash is a significant factor, but multiple Solana-specific issues have worsened the decline:
🔹 LIBRA Memecoin Fraud – The launch of Pump.Fun led to a surge in Solana-based memecoins, fueling pump-and-dump scams. The LIBRA token scam was one of the most notable cases, damaging investor confidence.
🔹 Plummeting Market Cap of Solana-Based Projects – The total market cap of Solana-related cryptos dropped from $25 billion in January to just $8.6 billion.
🔹 Declining Gas Fees and DEX Volume – Lower on-chain activity signals weakening investor engagement in the Solana ecosystem.
🔹 Falling Number of Active Addresses – A declining user base reflects a loss of trust in the network.
🔹 Upcoming Token Unlocks – On March 1, 11.2 million SOL tokens will be unlocked, adding selling pressure. These tokens come from FTX’s distribution plan and could increase market volatility.

What’s Next for Solana (SOL)?
Analysts agree that SOL is now trading in a critical support zone between $120 and $140.
📌 Crypto analyst Ansem warns:
"The $120–140 range is crucial. Shorting after a 50% drop in a month isn’t a great trade, but overall, I remain bearish on most crypto assets in the higher time frame."
If SOL maintains support in this range, it could rebound toward the $170 resistance level. However, if it falls below $120, it may test psychological support at $100.

Conclusion: Solana at a Crossroads
The current state of Solana is concerning for investors. The bearish trend continues, driven by the overall market decline, ecosystem challenges, and upcoming token unlocks.
🔹 Support: $120–140
🔹 Potential Upside: $170
🔹 Potential Downside: $100
Solana’s future will depend on market sentiment, ecosystem recovery, and the impact of upcoming unlocks. Investors should closely monitor SOL and plan strategically.

#solana , #CryptoNewss , #CryptoMarket , #BEARISH📉 , #Investing

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Mass Resignation Shakes Government Agency
In an unexpected and ironic turn of events, the Department of Government Efficiency (DOGE) was rocked on Tuesday by the mass departure of all its employees. A total of 21 government officials submitted their joint resignation, citing political interference, mass layoffs, and threats to federal integrity.
A team of engineers, product managers, and designers published an open resignation letter on WetheBuilders.org, stating that they refuse to participate in the dismantling of essential public services.
In the letter addressed to White House Chief of Staff Susie Wiles, the employees accused DOGE leadership of compromising key government systems, firing technical experts without warning, and creating a hostile work environment under Elon Musk’s leadership.
"We swore an oath to serve the American people and uphold the Constitution regardless of political administrations," the letter states. "However, it has become clear that we can no longer honor these commitments within the DOGE Service of the United States."
NBC News confirmed the authenticity of the letter, although the employees who wrote it remained anonymous. Instead of signing their names, they listed their job titles, signaling that the technical and operational backbone of DOGE had just walked away.
Musk’s Takeover Sparks Resistance Within Federal Agencies
This resignation comes in the wake of Elon Musk’s controversial takeover of the U.S. Digital Service (USDS). Originally created under Barack Obama, the USDS was tasked with modernizing government technology. Following a Donald Trump executive order, it was rebranded as DOGE, with Musk granted free rein to “streamline” government operations.
Signs of internal turmoil first surfaced on January 21, just one day after Trump’s inauguration, when DOGE employees reported being questioned by unidentified White House officials in brief 15-minute interviews. These officials refused to identify themselves, grilled employees about their political views, and tried to pit them against each other.
Less than a month later, on February 14, an anonymous email abruptly fired one-third of the agency overnight. According to the resignation letter, these layoffs targeted experts working on Social Security, disaster relief, and tax systems, endangering millions of Americans.
"DOGE seems to think ‘efficiency’ means doing less, no matter the consequences," said a former employee who worked under both Obama and Trump. In an interview with NBC News, they described Musk’s leadership transition as "scorched earth", driving out people who actually knew how to fix government inefficiencies.
Musk Responds: “They Would Have Been Fired Anyway”
Elon Musk took to X (formerly Twitter) to downplay the resignations, dismissing the employees as “political holdovers”.
"They were fully remote workers who hung Trans flags in their offices," posted DOGE employee Katie Miller on X, appearing to mock the departing staff.
While Musk tried to brush off their resignations, the Trump administration remained notably vague about who was actually in charge of DOGE.
After days of speculation, CNBC confirmed that the acting director of DOGE is Amy Gleason, a former USDS official who previously worked in Trump’s first administration.
Republicans Divided: Musk’s Purge Too Aggressive?
Even within Republican circles, concerns are growing that Musk is recklessly gutting the federal workforce.
📌 Republican Nicole Malliotakis to CNN: "We need to do this with a scalpel, not a sledgehammer."
📌 Senate Majority Leader John Thune warned that haphazard purges could damage essential services.
📌 Rep. Rich McCormick: "I support shrinking government, but we need to give people time to adjust."
Meanwhile, Trump’s campaign made it clear that they have no intention of slowing down. A fundraising email sent Tuesday highlighted Musk’s new employee policy, requiring all federal workers to submit five “successes” per week. The email then posed a poll question to supporters:
"Should we let Elon Musk FIRE anyone who fails to respond?"
✅ YES
❌ NO
Musk Faces Legal Challenges Over DOGE Role
While Trump publicly credits Musk with leading DOGE, legal filings tell a different story.
According to a February 17 sworn affidavit, Joshua Fisher, director of the Office of Administration, stated that Musk "is not an employee of any government entity under DOGE" and "has no actual or formal authority to make government decisions."
This contradiction has become a central issue in a federal lawsuit challenging the legality of Musk’s involvement.
Democrats Sound Alarm: Musk May Exploit Confidential Data
Senator Elizabeth Warren has warned that Musk has a personal interest in dismantling the Consumer Financial Protection Bureau (CFPB).
"By seizing control of the agency, Musk gains access to CFPB’s sensitive data on major financial competitors like PayPal, CashApp, and Zelle," Warren stated.
Former CFPB oversight director Lorelei Salas revealed that the agency monitors AI-driven credit approval models, which Musk could exploit for his own business ventures.
A federal judge has temporarily blocked Musk’s plan to purge CFPB employees or erase its data.
Conclusion: Efficiency or Destruction?
The resigning DOGE employees insist that they had no choice but to leave.
"We signed up to make the government more efficient," their letter states. "Instead, we are watching it be dismantled."
As Trump and Musk continue their fight against “bureaucracy”, more government officials are speaking out against their methods.

#ElonMusk , #DOGE , #DonaldTrump , #Fed , #CryptoNewss

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

State-Level Bitcoin Reserves Face Major Roadblocks
The push for U.S. state-backed Bitcoin reserves is hitting significant resistance, as multiple states reject legislative proposals to allocate public funds to BTC. While over 20 U.S. states have introduced or are considering bills related to Bitcoin reserves, several recent setbacks indicate that state-level crypto investments remain highly controversial.
In the past few weeks, Montana, South Dakota, North Dakota, Pennsylvania, and Wyoming have all rejected or stalled Bitcoin reserve proposals, highlighting concerns about volatility, regulatory uncertainties, and economic risks.
Montana and South Dakota Reject Bitcoin Reserve Bills
In Montana, House Bill 429—which proposed allocating up to $50 million in public funds to Bitcoin, stablecoins, and precious metals—failed in the House on February 21 with a vote of 59-41. Representative Curtis Schomer, who championed the bill, argued that investing in BTC could diversify state assets and potentially generate higher returns, but the proposal failed to gain enough support.
Similarly, South Dakota’s HB 1202, which sought to invest 10% of state funds into Bitcoin, was rejected by the House Commerce and Energy Committee on February 24 with a 9-3 vote. While Representative Logan Manhart, the bill’s sponsor, defended Bitcoin as a hedge against inflation, state investment officer Matt Clark warned about the asset’s extreme volatility.
More States Join the Opposition
North Dakota, Pennsylvania, and Wyoming also blocked or shelved Bitcoin reserve proposals:
North Dakota’s HB 1184, which aimed to explore the feasibility of a Bitcoin reserve, failed in the House with a 57-32 vote.Pennsylvania’s HB 2664, which proposed investing up to 10% of state funds into Bitcoin, was effectively killed early in the legislative process.Wyoming, a state known for its crypto-friendly stance, saw its Bitcoin reserve proposal rejected by a state committee on February 6.
Trump’s Bitcoin Support Sparks State-Level Interest
The growing push for state Bitcoin reserves stems from former President Donald Trump’s calls for a U.S. strategic Bitcoin reserve during his 2024 election campaign.
In July 2024, Wyoming Senator Cynthia Lummis, a strong advocate for digital assets, introduced a national Bitcoin reserve bill that aimed to have the U.S. government acquire 1 million BTC over five years. However, even Lummis’ home state struggled to advance its own Bitcoin reserve proposal.
Where Bitcoin Reserve Bills Are Making Progress
Despite resistance in some states, Bitcoin reserve proposals are moving forward elsewhere.
Utah is leading the charge, as HB 230—which allows the state treasurer to allocate up to 5% of public funds to digital assets—passed the Revenue and Taxation Subcommittee on February 20. With Bitcoin being the only asset meeting the $500 billion market cap requirement, it’s the primary candidate for Utah’s digital reserve fund.Texas, a well-known crypto hub, is considering two separate Bitcoin-related bills—one proposing that the state allocate 1% of its general revenue to BTC, while the other focuses on Bitcoin donations and crypto payments.Oklahoma made significant progress on February 25, when the House Oversight Committee approved HB 1203, a bill for a strategic Bitcoin reserve, by a 12-2 vote.Arizona’s Senate Finance Committee advanced SB 1025, a bill proposing investing up to 10% of public funds—including pensions—into Bitcoin and other cryptocurrencies. The proposal is now awaiting a House vote.
The Future of State Bitcoin Reserves: A Divided Landscape
While some states firmly reject Bitcoin reserve proposals, others are moving forward, seeing Bitcoin as a potential long-term hedge against inflation. Currently, 18 Bitcoin reserve bills remain active across various U.S. states, meaning the debate is far from over.
As lawmakers weigh the risks and rewards of integrating Bitcoin into public finances, the key question remains: Will Bitcoin reserves become a mainstream financial strategy, or will states continue to reject crypto as too volatile for public investment?
#bitcoin , #CryptoRegulation , #CryptoNewss , #CryptoInvestment , #BitcoinReserve

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“