Here’s a quick recap of the crypto landscape for Monday (February 24) as of 9:00 p.m. UTC.
Bitcoin and Ethereum price update
Bitcoin (BTC) is currently trading at US$87,548, reflecting a decrease of 1.9 percent over the past 24 hours. The day’s trading range has seen a high of US$89,409 and a low of US$86,015.
Ethereum (ETH) is priced at US$2,425.05, marking a decline of 0.17 percent over the same period. The cryptocurrency reached an intraday high of US$2,530.78 and a low of US$2,362.64.
Altcoin price update
- Solana (SOL) is currently valued at US$151.06, down 9.8 percent over the past 24 hours.
- XRP is trading at US$2.24, reflecting a 0.89 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.36 and a low of US$2.17.
- Sui (SUI) is priced at US$2.94, showing a 3.52 percent increase over the past 24 hours. It achieved a daily high of US$3.08 and a low of US$2.72.
- Cardano (ADA) is trading at US$0.664952, reflecting a 0.46 percent increase over the past 24 hours. Its highest price today was US$0.693333, with a low of US$0.636214.
Crypto news to know
South Dakota Lawmakers Reject Bitcoin Reserve Proposal
A proposal to add Bitcoin (BTC) to South Dakota’s state reserves has failed to gain traction, as lawmakers voted to postpone the bill indefinitely during a legislative session on Monday.
The bill, which sought to make South Dakota the first U.S. state to hold Bitcoin as a treasury asset, was seen as a potential breakthrough for state-level Bitcoin adoption. However, after deliberation, the state’s House Commerce and Energy Committee voted to delay the bill indefinitely, signaling that it will not be revisited this session.
Supporters of the bill had argued that Bitcoin could serve as a hedge against inflation and offer a decentralized alternative to traditional reserve assets.
Critics, however, raised concerns over Bitcoin’s price volatility and regulatory uncertainty, questioning whether it was a suitable asset for state reserves. Some lawmakers also suggested that South Dakota should wait for more regulatory clarity before making such a move.
Despite the setback, analysts believe other states may still move forward with Bitcoin reserve proposals this year. According to the Bitcoin Reserve Monitor, at least 18 states are currently exploring the idea. Among them, Florida, Utah, Arizona, and Texas remain the most likely to push for Bitcoin reserves in 2025.
While South Dakota’s decision represents a short-term roadblock for Bitcoin adoption, many believe that state-level interest in BTC as a reserve asset will only continue to grow.
Dogecoin Falls Below $0.20 as Meme Coins Face Steep Losses
Dogecoin (DOGE) has dropped below US$0.20, marking a significant decline of over 11 percent in the past 24 hours. The meme coin has now lost 43 percent of its value over the past month and is down 72 percent from its all-time high of US$0.73 in 2021.
This downturn comes as the crypto market faces heavy selling pressure, with Bitcoin (BTC) down 8.3 percent and Ethereum (ETH) down 10.1 percent over the same period.
The meme coin sector as a whole has struggled, with Solana-based tokens like Bonk (BONK) and Trump (TRUMP) each falling over 14 percent this past week. Ethereum-based Pepe (PEPE) has also taken a hit, extending its recent downward trend.
One of the biggest losers is Fartcoin (FART), which has plunged nearly 90 percent from its peak market cap of US$2.4 billion, now trading at just US$0.29.
Beyond meme coins, the broader crypto market is also suffering, with Bitcoin dipping to US$87,115 at its lowest point and Ethereum seeing a similar trajectory. The total crypto market capitalization has dropped below US$3 trillion, reflecting an 8.8 percent loss in a single day.
Analysts point to uncertainty around U.S. regulatory discussions—including speculation about a potential Bitcoin reserve policy—as contributing factors.
SEC Ends Uniswap Investigation, Boosting DeFi Confidence
The SEC (U.S. Securities and Exchange Commission) has officially closed its investigation into Uniswap Labs, marking a significant moment for the decentralized finance (DeFi) sector.
Uniswap, the leading decentralized exchange (DEX), had been under scrutiny since April 2024, when the SEC issued a Wells notice suggesting the platform may have been operating as an unregistered securities exchange.
However, the regulator has now decided against further enforcement actions, effectively clearing Uniswap of wrongdoing.
Following the news, Uniswap’s governance token (UNI) jumped 5 percent, as investors welcomed the regulatory clarity. In a statement, Uniswap Labs called the decision a “win for DeFi and decentralized technology”, emphasizing that DeFi platforms operate differently from centralized financial entities and should not be subject to the same regulations.
This development comes amid major shifts at the SEC, following Gary Gensler’s departure in early 2025.
Under Acting Chairman Mark Uyeda and Commissioner Hester Peirce, the agency has been reevaluating its approach to crypto regulation, leading to the closure of multiple investigations, including those into Robinhood Crypto and OpenSea.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
