As of today, March 4, 2025, the cryptocurrency market is experiencing significant volatility. Bitcoin's price has fallen to approximately $83,000, marking a nearly 10% decline over the past 24 hours. Other major cryptocurrencies, including Ethereum (ETH), XRP, and Solana (SOL), have also seen substantial drops, ranging from 14% to 20%. This downturn is accompanied by over $1 billion in liquidations across the market.
This recent market turbulence follows President Donald Trump's announcement on March 3, 2025, of the creation of a U.S. strategic crypto reserve. The reserve will initially include five digital tokens: XRP, Cardano (ADA), Solana (SOL), Bitcoin, and Ethereum. The announcement initially boosted cryptocurrency values, with Bitcoin's price increasing by 9% to $93,000. However, these gains have since been reversed amid broader market volatility.
In terms of technological developments, Ethereum developers are preparing for the Pectra upgrade, scheduled for March 2025. This upgrade aims to enhance the network's performance and user experience by introducing features such as programmable wallets (EIP-7702) and increasing the staking cap for validators from 32 to 2,048 ETH (EIP-725
