This week in Solana - Feb 24th - March 2nd 2025
This week was a real roller coaster in the markets. It felt like watching a glacier break off into the ocean and then the second you thought it might be over, another piece would break off and we'd fall off a cliff again.
Price movements on the week
Sol - Started $167 - dropped down to $125 - current $173
Eth - Started $2814 - dropped down to $2098 - current $2459
BTC - Started $95,426 - dropped down to $78,191 - current $91,345
Sunday Savior:
Trump/White House announce an executive action for a crypto reserve on Sunday morning and the markets are going nuts.
After a week of brutality, it's some much needed relief to price action.
Big moves in the US Government this week
The White House is having a crypto summit March 7th! We will see what comes out of it.
SEC (@SECGov) declares that most memecoins are collectibles and not securities, but the meme war is on. Democrats introduced the MEME Act this week, in an attempt to stop public officials from launching memecoins, which is an obvious hit towards Trump and co.
SEC (@SECGov) drops cases against Coinbase (@coinbase), Robinhood (@RobinhoodApp), Uiniswap (@Uniswap), and @Consensys/ @MetaMask
Are spot $SOL ETFs in the pipeline with futures ETFs prepping to go live?
Two @solana futures ETFs (SOLT, SOLZ) popped up on the DTCC (Depository Trust and Clearing Corporation). Coinbase is also planning a regulated Solana futures derivative this month. In the past, futures ETFs eventually led to spot ETFs as it did with Bitcoin and Ethereum, so there is hope that we are going down the same path.
CME Group (@CMEGroup) has their SOL futures and Micro ETS launching on March 17th (pending regulatory review).
Grayscale (@Grayscale) has weighted their fund slightly higher in $SOL than $ETH. Why they have so much $ADA is a bit confusing, but it’s interesting to see them taking a bigger position in Solana over Ethereum.
Pump.fun (@pumpdotfun) has had an interesting week. Their X account got hacked and posted a CA...surprise!. They got control back pretty quickly, but always be weary of protocols that magically post a CA out of nowhere. They also have seen activity plummet and revenues drop as the amount of coins graduating is at levels not seen in a year.
Jessie (@jessepollak) from @base announced FlashBlocks would bring block times down to 200 ms (2x faster than @Solana — but negated to mention that FlashBlocks are “sub-blocks” allowing early confirmation times, but Base’s full block times remain unchanged at 2 seconds. Solana has “shreds” that do similar functions with full block times of 400 ms.
AKA, it’s just marketing, but doesn’t change the actual full block times. Mert (@0xMert_) breaks it all down here https://x.com/0xMert_/status/1895489601260703840
Moonpay (@moonpay), who recently bought Helios/Solana Pay have integrated an on/off ramp to bank accounts with both Uniswap (@uniswap) and Metamask (@MetaMask) who also recently announced that the UI/UX is getting a massive overhaul and will support both Solana and Bitcoin. Coincidence?
Orca (@orca_so) added more features into positions to get a clearer view of where your allocation sits in the pool. Percentage-based distance from current price, clear min/max price boundaries and color-coded indicators for quick assessment
Jupiter (@JupiterExchange) - (@jup_dao) put up a new vote to decide if they should change their logo (https://vote.jup.ag/). More votes to come soon, so if you are staking $JUP it’s time to pay attention. You can sign up to be emailed when votes go live to make sure you don’t miss any. This vote ended and the circle logo is staying. The cat lost.
Squads (@SquadsProtocol) Is allowing businesses to make global payouts to vendors and employees from a Squads treasury account. USDC transfers are automatically converted to USD/EUR and sent to the recipient's bank account. You can off-ramp USD/EUR to your business bank account, create single, batch and recurring onchain payments!
Drift (@DriftProtocol) announced Community Quests. FUEL is Drift's rewards program for all users. Activities on Drift earn FUEL, with some boosted actions! More milestones = a bigger drop.