Weekly Review: Memecoins' classification as non-security, Trump's expectation of crypto reserve, and first crypto roundtable in Whitehouse...
NFT Weekly News #86 27th February - 3rd March
NFT News Weekly Update #86
(27/02/2025-03/03/2025)
GM
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Top News ๐
๐ US regulation | SEC Announces that Meme Coins Are Not Securities (18 Feb)
The SEC posted new guidelines, claiming that meme coins are no longer bound by securities regulations. SEC will be stopping enforcement, but other agencies, like CFTC, may pick up the slack.
๐ Macro | Donald Trump would like to name XRP, SOL, ADA, BTC and ETH as Part of U.S. Crypto Reserve (2 Mar)
U.S. President Donald Trump announced that XRP, Solana, and Cardano would be included in a U.S. strategic crypto reserve. He later added Bitcoin and Ethereum to the list of assets composing the reserve. XRP, SOL, and ADA experienced significant price surges on the news, while BTC and ETH fans expressed disappointment and surprise as they weren't added in the first announcement.
๐ Macro | Trump to Host First Crypto Roundtable at White House the 7th of March (1 Mar)
U.S. President Donald Trump is set to host a crypto summit on March 7, with key figures from the crypto industry and the President's Working Group on Digital Assets in attendance. "Attendees will include prominent founders, CEOs, and investors from the crypto industry, as well as members of the President's Working Group on Digital Assets," the release said.
Market Update ๐ฃ
Last week, the primary NFT PFP projects that saw significant sales included Crypto Punks.
Crypto Punks #4464 was sold on March 1, 2025, for 1,011 ETH, approximately $2.18 million. This NFT belongs to the rare โApeโ category, with only 24 out of 10,000 CryptoPunks falling into this classification. Notably, CryptoPunk 4464 was previously sold for 2,500 ETH on July 12, 2022.
In the realm of Art NFTs Fidenza, Ringers and Incomplete Control have made the list. Notably, Fidenza has reached a selling price of 38 ETH.
Source: NFT Price Floor
Other News ๐
๐ Art | Botto piece sells for 54ETH ๏ผ28 Feb๏ผ
The 1/1 generative artwork โThe Giraffeโ by AI artist Botto was sold today for 54 ETH ($127,575) at Verse Works. Created using a generative algorithm, the piece is considered a potential iconic or memetic work of this era. The sale highlights the growing influence of AI-generated art in the NFT market.
๐ ETH | Ethereum Foundation Picks New Co-Executive Directors, Following Leadership Reshuffle (1 Mar)
The Ethereum Foundation shared in a blog post that they have selected Hsiao-Wei Wang and Tomasz Staลczak as their new co-executive directors.
The news follows an earlier announcement of Aya Miyaguchi leaving the executive director role to become the EFโs new president.
Also, ex-EF researcher Danny Ryan shared that he would be joining Etherealize, the new project aimed at bringing ETH to Wall Street.
๐ NFT | Donald Trump-Linked Firm May be Looking to Start NFT and Metaverse Platform (28 Feb)
DTTM Operations, a company that manages U.S. President Donald Trump's IP rights, filed a trademark with the U.S. Patent and Trademark Office (USPTO) which might hint at potential non-fungible tokens (NFTs) and metaverse platforms.
NFT Chain Volume ๐
Over the past week, NFT marketplace volume went down to $70.9M from $73.6M one week ago. Ethereum claimed the top spot with a 65.7% market share while with $46.6M chain volume. Polygon and Solana are ranked 2nd and 3rd, with $8.7M and $7.4M chain volume respectively.
The Weekly Top 3 NFT PFP projects by trading volume are Pudgy Penguins, Courtyard.io, and Ordinal Maxi Biz, with 7-day trading volumes of 3.2K ETH, 22.9M POL, 61.16 BTC respectively.
Credit to : @NFTpulse
Memecoin Market Cap and Volume ๐
Over the past week, the market cap for memecoins reached $62.66B on March 3rd, marking a 3.57% decrease from the previous week.
Meanwhile, daily trading volume came back to $13.5B on March 3rd, reflecting a 200.26% increase compared to last week.
Credit to : @CoinMarketCap