Weekly preview | The White House will host the first cryptocurrency summit; Ethena (ENA), Sui (SUI), etc. will unlock tokens worth more than $1 billion

News preview:

• HashKey Chain’s official staking function will be launched on March 3;
• Sui (SUI) will unlock approximately 40.63 million tokens at 8:00 am Beijing time on March 3, accounting for 1.28% of the current circulation, with a value of approximately US$117 million;
• Story will launch token issuance and staking rewards on March 4;
• Ethereum Foundation: Pectra network upgrade is scheduled to go live on Sepolia on March 5;
• The White House will host its first cryptocurrency summit on March 7;
• Ethena (ENA) will unlock approximately 2.07 billion tokens at 3:00 pm Beijing time on March 5, accounting for 66.19% of the current circulation, with a value of approximately US$835 million;

March 3

Project dynamics:

HashKey Chain official staking function will be launched on March 3

HashKey Chain will officially launch the Staking function at 20:00 (UTC+8) on March 3, 2025, to provide users with flexible on-chain asset value-added services. It is understood that HashKey Chain Staking currently supports HSK pledge. Users can choose different lock-up periods according to their own needs and enjoy corresponding annualized yields and additional rewards, with an annualized rate of return of up to 12%. The launch of the Staking function aims to provide users with an asset value-added channel, while further enriching the application scenarios of the HashKey Chain ecosystem.

Token unlocking:

Sui (SUI) will unlock approximately 40.63 million tokens at 8:00 am Beijing time on March 3, accounting for 1.28% of the current circulation and worth approximately US$117 million.

March 4

Macroeconomics:

U.S. tariffs on Mexico and Canada were implemented on March 4

U.S. President Trump said the tariffs on Mexico and Canada would take effect on March 4.

Project dynamics:

Solayer plans to open LAYER token airdrop applications until March 4

Solana's re-staking platform Solayer announced that it has officially opened the airdrop application for its native token LAYER, but PANews' actual application is not yet open. Solayer stated in a blog that for early and eligible community members, the LAYER tokens in the Genesis Drop will be unlocked immediately upon release, and additional LAYER can be claimed through Epoch in the next 6 months. The inspection window opens at 20:00 Beijing time on February 11, 2025, and will remain open for 30 days until 20:00 Beijing time on March 4, 2025. Users who fail to initiate a claim during this period will lose their tokens. Unclaimed LAYER will be reallocated for future airdrops. LAYER tokens attributed after the initial claim period will not be affected.

Story will launch token issuance and staking rewards on March 4, releasing 55,555 IPs per day

Story will officially launch IP token issuance on March 4, 2025 (block 1,580,851), releasing 55,555 IPs per day and simultaneously launching staking rewards. Currently in the singularity period, users can stake but no rewards will be given, which will take effect after the Big Bang Block. The staking reward mechanism adopts a time-weighted model, with flexible staking of 1x, 1.1x for 90 days, 1.5x for 360 days, and 2x for 540 days, while locked staking only enjoys 0.5x rewards (locked for 6 months). Story encourages long-term staking to enhance the security and stability of decentralized AI native IP infrastructure.

Token unlocking:

Staika (STIK) will unlock approximately 1.57 million tokens at 8:00 am Beijing time on March 4, worth approximately US$8 million

March 5

Project dynamics:

Ethereum Foundation: Pectra network upgrade is scheduled to go live on Sepolia on March 5

The Pectra network upgrade is scheduled to be launched on the Ethereum testnet. It went live on Holesky at epoch 115968 (05:55 Beijing time on February 25), and then went live on Sepolia at epoch 222464 (15:29 Beijing time on March 5). The Pectra testnet client versions are listed below. After the two testnets are successfully upgraded, a mainnet activation epoch will be selected. Pectra follows last year's Dencun upgrade. It introduces more features such as enhanced Ethereum accounts, improved validator experience, support for L2 expansion, etc.

Token unlocking:

Ethena (ENA) will unlock approximately 2.07 billion tokens at 3:00 pm Beijing time on March 5, accounting for 66.19% of the current circulation, with a value of approximately US$835 million.

March 6

Macroeconomics:

Federal Reserve releases Beige Book on economic conditions

March 7

Macroeconomics:

US Nonfarm Payrolls Report

Policy supervision:

White House to host first cryptocurrency summit on March 7

The White House will host the first-ever cryptocurrency summit on March 7. President Trump will attend and speak at the first-ever White House cryptocurrency summit on March 7. Attendees will include prominent founders, CEOs, and investors in the cryptocurrency industry, as well as members of the President’s Digital Asset Task Force. The summit will be hosted by White House A.1. and cryptocurrency czar David Sacks, and managed by the task force’s executive director, Bo Hines.

Token unlocking:

Kaspa (KAS) will unlock approximately 162 million tokens at 8:00 am Beijing time on March 7, accounting for 0.63% of the current circulation, with a value of approximately US$12.8 million.

Neon (NEON) will unlock approximately 53.91 million tokens at 8:00 am Beijing time on March 7, accounting for 22.51% of the current circulation, with a value of approximately US$8.4 million.

March 8

Macroeconomics:

Federal Reserve Chairman Powell speaks at the University of Chicago Booth School of Business

Project dynamics:

Japan’s SBI Group will complete the integration of DMM Bitcoin customer accounts and assets by March 8

Japanese securities giant SBI Group announced that its crypto business has achieved a record quarterly profit. SBI also cooperated with USDC operator Circle to promote the launch of USDC trading pairs in Japan. In addition, the company has reached an agreement with DMM Bitcoin to complete the integration of DMM Bitcoin customer accounts and assets on March 8, 2025. This integration covers the yen and spot crypto assets of all DMM Bitcoin customers, and no additional operations are required by customers, which will be handled uniformly by SBI VC Trade. This integration will add 14 new spot trading assets, including NIDT, MONA, SAND, TRX, BAT, ALGO, APE, AXS, ETC, ENJ, CHZ, MKR, OMG, and FCR. After the integration, the total number of crypto assets supported by SBI VC Trade will increase to 38.

March 9

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