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Ethena stablecoin USDe experienced the largest single-day redemption in history on March 1, reaching about 268 million, causing the total USDe to drop by about 4.7%. The largest redeemers on that day came from 0x59...705d (180 million) and Sky (70 million).

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CRO crypto broke out of its 3-month downtrend after Cronos launched a proposal aimed at establishing a Cronos Strategic Reserve. According to a March 3 X post , Cronos, the Layer 1 blockchain associated with crypto exchange Crypto.com, is considering a proposal to establish a Cronos Strategic Reserve wallet that will be made by reissuing the 70 billion CRO tokens that were burned in 2021. The burning event hailed as one of the largest in crypto history, reduced the supply from 100 billion to 30 billion CRO tokens to support decentralization efforts ahead of Cronos’ mainnet launch. Through the Cronos reserve, which will be subject to a new 5-year vesting period, the project will fund its roadmap, which includes plans to pursue a spot ETF launch by the end of 2025. While voting for the proposal will end on March 17, it has already garnered over 99.76% of votes favouring the move that would restore the total token supply to its original 100 billion CRO. Cronos ( CRO ) rallied to an intraday high of $0.101 today, marking a 46% surge from its weekly low, while its market cap was seated at $2.5 billion as of press time. Its daily trading volume also skyrocketed 773% over the period to over $164 million. Another key reason for the hype around the token was Cronos’ announcement that the Cronos Strategic Reserve would support “America’s ambition to become the World Capital of Crypto.” The statement likely caught traders’ attention, especially as the overall crypto market was already surging, fueled by U.S. President Donald Trump’s recent announcement of a strategic crypto reserve for the nation, which would include a basket of cryptocurrencies like Bitcoin and Ethereum. However, the proposal has also sparked criticism from several community members on X, who believe the increased supply could lead to a price dilution. Technical indicators suggest a bearish outlook for CRO in the short term. On the 1-day CRO/USDT price chart, CRO has broken up above the descending trendline that has been formed since Dec. 17 after it formed a head and shoulders pattern, leading to a bearish momentum. Despite this, the 200-day moving average remains above the 50-day MA, signalling that recent price action has been weak and that bearish pressure is still strong, with buyers showing little interest. Meanwhile, the Supertrend Indicator is in the red, and the Relative Strength Index sits at a neutral 42, putting CRO in a tough position. These indicators suggest that momentum is not strong enough to reverse the prevailing bearish trend. At press time, CRO was exchanging hands at $0.084 per coin, while its social sentiment was positive per Santiment data. However, the price action could switch back to its bearish trend in the coming days if the current hype fades. Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Ripple CEO Brad Garlinghouse has welcomed President Donald Trump’s announcement of a Crypto Strategic Reserve, which will include XRP and other leading cryptocurrencies. He emphasized that the crypto industry can only advance if it chooses collaboration over infighting. He also urged the community to move beyond a maximalist outlook. “I’ve said this before—the crypto industry will achieve our goals (and beyond) if we work together,” Garlinghouse stated. He praised Trump’s inclusive plan, noting that it recognizes multiple blockchains, unlike earlier SEC policies under the Biden administration. Trump’s Crypto Strategic Reserve aligns with Executive Order 14178. He issued this directive in his first week to solidify the United States’ position as the “Crypto Capital of the World.” Posting on X yesterday through Truth Social, Trump claimed that forming a U.S. Crypto Reserve will fortify the industry after what he called “corrupt attacks” under the prior Biden administration. He explained that his Executive Order on Digital Assets directed the Presidential Working Group to advance plans for a Crypto Strategic Reserve. This will include XRP, Solana, and Cardano (ADA). Trump later mentioned that BTC and ETH would be key to the reserve. Related: Differing Paths: Georgia Advances Bitcoin Reserve Bill — SB 228, Montana Rejects Trump’s Crypto Strategic Reserve plan sparked debate. Some prefer a Bitcoin-exclusive approach, while others endorse a multi-asset reserve. Coinbase CEO Brian Armstrong proposed a market cap-weighted index if not a BTC-only scheme. Meanwhile, Eric Trump praised the Sunday timing when traditional markets are closed. He argued that it gives retail investors an edge over Wall Street. Crypto trader Bluntz dismissed the idea of a multi-asset reserve, saying a reserve should be BTC-only, calling the inclusion of other cryptocurrencies “hilarious.” However, Altcoin Daily countered , insisting the move proves crypto’s long-term presence. Related: Expert Says Bitcoin Strategic Reserve Will Happen, Sets BTC Price Target at $180K Hours into the news, Bitcoin rose by 10% to trade above $95,000. XRP price also witnessed a 30% uptick to trade at $2.90. Solana also recorded a 24% surge to $174. Meanwhile, ADA saw the biggest price action, jumping by 61% to trade above $1. Ethereum’s price also skyrocketed by 11% to reach $2,456. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Ripple CTO David Schwartz and Cardano founder Charles Hoskinson exchanged pleasantries on X for the first time in many years after President Donald Trump’s latest announcement on the US crypto stockpile. Both suggested that the long-running rift between the XRP community and Hoskinson may have ended. Hoskinson’s recent appreciation of XRP’s authenticity surprised Schwartz, who replied to the Cardano founder’s post asking if he was dreaming. Hoskinson applauded the XRP technology in the post, describing it as a global standard that has survived many harsh cycles for a decade. Related: Donald Trump’s Shift from Bitcoin Reserve to a ‘Broader’ Crypto Plan Sparks Debate Hoskinson argued that XRP’s solid community and other merits backed President Trump’s plan to include it in the US crypto reserve. His comment challenged Peter Schiff, a prominent crypto critic, who questioned the wisdom of an XRP reserve. Besides Hoskinson’s response to Schiff, renowned crypto lawyer Bill Morgan added that the court’s decision that XRP is not a security provided legal clarity about the cryptocurrency and boosted its status in the crypto world. It is worth noting that Morgan has been one of the frontline XRP supporters since Ripple’s legal challenges with the SEC. Schwartz and Hoskinson extended their goodwill by complementing each other’s projects. Hoskinson applauded Schwartz’s effort on the XRP project after spending time with the code and protocol for the Glacier Drop. Meanwhile, Schwartz commended Hoskinson’s achievements on new tech, with a focus on privacy. The Ripple CTO highlighted the complexities of that sector of the decentralized technology ecosystem and the challenges regulators pose. Related: US Crypto Reserve Debate: Bitcoin or Altcoin Inclusion? On Sunday, President Trump revealed that his Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. Trump’s revelation triggered a surge in the prices of cryptocurrencies, with XRP surging nearly 40% over a short period. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.