- White House Crypto Czar David Sachs… Bitcoin Strategic Asset Reserve Stablecoin Activation
Ahead of the White House Crypto Summit, “Ripple, Solana, Cardano, Bitcoin” and others are being mentioned as cryptocurrencies recommended by Trump.
According to the New York Stock Exchange and the cryptocurrency industry on the 2nd, altcoins that must be bought ahead of the White House Crypto Summit include ‘XRP, SOL, DOGE, and ADA’. Bitcoin is drawing attention in relation to stockpiling strategic assets. Ethereum has not been mentioned yet. Cryptocurrency media outlet CoinGape reported that XRP, SOL (Solana), DOGE (Dogecoin), and ADA (Cardano) are attracting attention as major US altcoins with the potential for a 100-fold increase, as the White House holds its first Crypto Summit on March 7. Former President Trump and major cryptocurrency industry figures are expected to attend the summit.
CoinGape analyzed that if XRP maintains the $2 support level, it is likely to soon break through $2.45 to $3.40. Ripple CEO Brad Garlinghouse is likely to attend the summit. Expectations are growing that XRP can play an important role in the US government’s digital asset strategy. Solana (SOL) has recently shown strong signs of a rebound, rising 10%. The $180 million SOL unlock is a variable. If it overcomes selling pressure, it is likely to rise toward the $206 resistance line. It predicted that a strong upward momentum will be formed if Lana breaks through the upper part of the descending channel. Dogecoin (DOGE) is likely to see its regulatory risk eased as the US Securities and Exchange Commission (SEC) recently classified meme coins as collectibles rather than securities.
Cardano (ADA) founder Charles Hoskinson is likely to attend this summit. Solana is seeing an influx of buying as its RSI (Relative Strength Index) rises. There is an analysis that if ADA breaks through its major resistance line, it is highly likely that it will continue its strong upward trend. CoinGape analyzed that this White House Crypto Summit will increase the possibility of easing cryptocurrency regulations and approving ETFs in the United States, and will lead to the strength of major US altcoins such as XRP, SOL, DOGE, and ADA.
The White House will host its first ‘Virtual Currency Summit’ on March 7 (local time), attended by founders, CEOs, and investors in the cryptocurrency industry. President Donald Trump is scheduled to speak at the meeting, which will be moderated by David Sacks, the White House’s chief cryptocurrency officer. The White House added that “while the previous administration unfairly prosecuted the digital asset sector, President Trump’s policy vision reflects a new era of digital financial technology,” and “the Trump administration is committed to providing a clear regulatory framework, enabling innovation, and protecting economic freedom.” President Trump, who has expressed a pro-virtual currency stance, is expected to reveal measures to promote virtual currency in his summit speech.
President Trump signed an executive order establishing a virtual currency working group shortly after taking office in January. The working group, led by White House Czar David Sachs, will draft a regulatory framework for virtual currency and submit a report containing legislative proposals, including an evaluation of how to stockpile digital assets at the national level. The cryptocurrency industry has been lobbying for President Trump to implement strategic stockpiling of Bitcoin and the establishment of a virtual currency advisory committee since he won the presidential election in November last year. This week, the New York stock market is expected to focus on the February employment report. With indicators that raise concerns about a recent U.S. economic slowdown coming out one after another, the size of new non-farm payrolls and the unemployment rate are expected to draw keen attention. The key point is
how much of an impact the large-scale federal workforce reduction led by the Department of Government Efficiency (DOGE) has had. The U.S. non-farm payrolls in February are expected to have increased by 133,000 compared to the previous month. The unemployment rate is estimated at 4.0%. In addition to the employment report, there are several other major indicators that could shake up the market. On the 3rd, the Institute for Supply Management (ISM) will release the February manufacturing purchasing managers’ index (PMI). The final February manufacturing PMI from Standard & Poor’s (S&P) Global is also scheduled to be released. Both are indicators that can gauge the state of the US manufacturing industry. The 4th is also the day the US President will address Congress. Mike Johnson, the Speaker of the US House of Representatives, invited President Trump in January, but did not say whether he would accept.
On the 5th, the ADP’s February National Employment Report will be released, followed by the S&P Global’s February service industry PMI final, and the ISM’s February service industry PMI. After the state of the service industry is determined, the Federal Reserve’s Beige Book will be released. The Beige Book is a report that Federal Reserve Chairman Jerome Powell takes seriously. On the 6th, the weekly new unemployment claims, the US January trade balance, and the fourth quarter labor productivity are scheduled to be released. On the 7th, the aforementioned February employment report is expected to be the finale. On the 6th, the European Central Bank (ECB) holds its monetary policy meeting.