SafeMoon CEO asks to push trial based on Trump SEC’s ‘policy changes’

New artificial intelligence agent launches on the Virtuals Protocol plummeted in February amid sharp drawdowns in AI token prices, according to data from Dune Analytics.

Fewer than 100 new AI agent tokens have launched on the Virtuals platform so far in February, sharply down from November highs that saw as many as 1,300 new pairs debut in a single day, according to Dune.

Virtuals is an engine for launching AI agents and associated tokens. Originally deployed on the Ethereum layer-2 network Base, Virtuals is preparing to expand to Solana, which is considered a hub for AI token activity.

The protocol is best known for hosting AI agents such as Aixbt, which monitors social media sentiment to identify promising cryptocurrency trades and operates its own X account. As of Feb. 7, the AIXBT token trades at a market capitalization of more than $200 million, according to Virtuals’ website.

In total, developers have launched more than 17,000 AI agent tokens on Virtuals, data shows. Fewer than 100 trade at market capitalizations of over $1 million, according to Virtuals’ website.

As Utah became the first state to get a bill through a legislative chamber that would allow the investment of public money into crypto assets, lawmakers in two other states joined the hunt this week: Kentucky and Maryland.

Though broadly identified with the Republican-led charge toward a so-called "bitcoin strategic reserve" at the federal level, the states have moved their own measures, widely varied as to how each might invest state money into digital assets.

Utah's bill to allow the state treasurer to put money into digital assets survived a tight vote in the Utah House of Representatives — advancing with just a three-vote margin — to head on Friday to the state senate. If it clears both chambers and is signed into law by the governor, the legislation would permit investing public money into stablecoins or cryptocurrency with a market cap of more than $500 billion, which is currently a single-name list: bitcoin.

The new bill in Maryland this week, introduced by Democrat Delegate Caylin Young, pushes for a bitcoin strategic reserve, much like the one contemplated by U.S. Senator Cynthia Lummis. In Maryland, the reserve would be funded through revenue from the enforcement of gambling violations.

The legislation in Kentucky also landed this week, with two bills — so far — that would open state retirement funds for investment in digital assets exchange-traded funds. The bills would also throw up roadblocks for the use of central bank digital currencies (CBDCs).

Most of the state bills have steered clear of calling for new taxpayer money to be channeled into crypto.

Read More: U.S. Bitcoin Reserve May Be Coming, But States Are Winning the Race

Fifteen other states are weighing legislation in their current sessions, with others expected to follow, and another two states — Michigan and Wisconsin — already have portions of their retirement funds in crypto ETFs. The surge in state interest mostly developed after the election of President Donald Trump and his stated interest in a strategic stockpile of digital assets.

Trump issued an executive order calling for his administration's crypto working group to examine the possibilities of a crypto stockpile for the U.S., though he's stopped short of calling for a strategic bitcoin reserve.

PEPE has suffered a sharp downturn, dropping nearly 50% over the past month and reaching its lowest price in three months. Investors have faced significant losses as bearish sentiment grips the meme coin market.

While the possibility of further correction remains, an emerging technical pattern could also signal a buying opportunity for long-term holders.

PEPE Is Facing a Bearish Cycle

The exponential moving averages (EMAs) indicate growing bearish pressure, with the 200-day EMA approaching a crossover above the 50-day EMA. This event, known as a Death Cross, is typically a strong bearish signal.

If the crossover occurs, selling momentum could intensify, further dragging PEPE’s price lower.

Currently, the 200-day EMA is just 8% away from completing the Death Cross formation. If bearish conditions persist, PEPE could struggle to recover in the short term. This technical pattern often leads to extended downtrends across various assets.

Despite bearish signals, PEPE’s Market Value to Realized Value (MVRV) ratio suggests a possible shift in momentum. The MVRV ratio has reached -29%, placing PEPE within the “Opportunity Zone.”

Historically, when this metric drops between -17% and -30%, it indicates that selling pressure is nearing exhaustion.

A negative MVRV ratio suggests investors are holding unrealized losses, making them less likely to sell further. This can create an accumulation period where long-term holders start buying at discounted prices.

If this trend follows previous patterns, PEPE price could be setting up for a potential recovery.

PEPE Price Prediction: Recovering The Losses

PEPE is currently trading at $0.00000941, slipping below the critical support level of $0.00001000. This marks a three-month low for the meme coin, making it one of the worst-performing assets of the month. The sustained selling pressure has made it difficult for PEPE to regain upward momentum.

The looming Death Cross raises concerns about further declines, potentially pushing PEPE below the $0.00000839 support level. A drop below this threshold would likely trigger additional selling, worsening investor losses.

If bearish momentum remains dominant, PEPE could see prolonged consolidation at lower price levels.

However, a reversal remains possible if PEPE can reclaim $0.00001000 as support. If the meme coin flips $0.00001146 into support, it would invalidate the bearish outlook and shift momentum toward recovery.

Popular meme-based cryptocurrency Dogecoin (DOGE) has just seen a dramatic downturn that makes investors wonder about its future course.

Driven by market volatility of Bitcoin (BTC), DOGE’s value dropped by around 20% over the past week. DOGE currently trades at $0.2551; its market value is $38.09 billion and its trading volume is $3.42 billion.

Whale Accumulation Signals Investor Trust

On-chain data shows that despite the current downturn, big investors—often referred to as “whales”—have grabbed the chance to amass significant amounts of DOGE.

Whales have specifically accumulated 750 million units of the meme coin during this downturn. Usually preceding big price swings, this large accumulation shows a strong conviction in the long-term possibilities of Dogecoin.

The current price of $0.25 is an ideal opportunity for investors who are ready to ride the wave of a possible recovery, according to some analysts, while others think DOGE may drop to about $0.17.

While markets waited on White House Crypto Czar David Sacks to pump their bags, the week’s biggest story slipped beneath the radar. Rather than announce plans for a Strategic Bitcoin Reserve, the Republicans simply reiterated plans to convene more committees to evaluate crypto legislation.

The highly anticipated news conference was a nothing-burger, and crypto prices tanked in the aftermath.

Still, just before the news conference, Securities and Exchange Commission (SEC) Commissioner Hester Peirce issued a statement promising a new journey for crypto regulation. According to Peirce, the White House’s newly formed Crypto Task Force would provide regulatory clarity for digital assets and reverse the mistakes made under ex-SEC chair Gary Gensler.

Crucially, the task force is recommending “retroactive relief” for cryptocurrency projects that were crushed by the hand of SEC overreach.

This week’s Crypto Biz newsletter explores the latest statement from the SEC’s “Crypto Mom.” It also looks at Bitwise’s 2025 expectations for Bitcoin exchange-traded funds (ETFs), MicroStrategy’s hodl strategy and the continued growth of real-world assets (RWAs).

SEC is evaluating “retroactive relief” for past crypto offerings

On Feb. 4, Commissioner Peirce issued a statement saying that the SEC is carving out a new path for the digital asset sector, which includes evaluating the security status of certain assets and potentially providing “retroactive relief” for some token offerings that drew the ire of the previous SEC administration.

“It took us a long time to get into this mess, and it is going to take us some time to get out of it,” said Peirce.

Specifically, President Donald Trump’s newly created Crypto Task Force is “recommending Commission action to provide temporary prospective and retroactive relief for coin or token offerings” under certain conditions, said Perice.

Peirce, often referred to as Crypto Mom by the blockchain industry, said, “The status of crypto assets under the securities laws is fundamental to resolving many other questions. The Task Force is working hard to examine different types of crypto assets.”

US regulators said they need more time to decide whether to permit the trading of options tied to Ether exchange-traded funds (ETFs), according to a Feb. 7 regulatory filing.

The filing was a response to Nasdaq ISE’s July request for permission to list options contracts for BlackRock’s iShares Ethereum Trust (ETHA). The US Securities and Exchange Commission now has until April 2025 to reach a decision, per the filing.

Nasdaq’s proposed rule change would apply exclusively to options on ETHA, which is the only Ether ETF listed on Nasdaq’s electronic exchange. Others are listed on the New York Stock Exchange’s Arca or Cboe.

Creating an options market for ETH ETFs is an important step toward widespread adoption. Spot Ether ETFs were listed in July 2024 and have proceeded to attract approximately $9 billion in net assets, according to data from The Block.

Options are contracts granting the right to buy or sell — “call” or “put,” in trader parlance — an underlying asset at a certain price.