Here’s what happened in crypto today

Today in crypto, Bitcoin’s growing active addresses may signal an incoming turning point for the crypto market after the latest correction, the Ethereum Foundation announced new leadership, and US President Donald Trump will host the first White House Crypto Summit on March 7, bringing together industry leaders to discuss regulations, stablecoins and Bitcoin reserve legislation.

Rising Bitcoin activity hints at market bottom, potential reversal

Bitcoin active addresses are nearing a three-month high, signaling a potential crypto market capitulation that may stage a price reversal from the latest correction.

Active addresses on the Bitcoin network surged to over 912,300 on Feb. 28, a level not seen since Dec. 16, 2024, when Bitcoin (BTC) traded for around $105,000, Glassnode data shows.

The surge in active addresses may signal a “capitulation moment” for the crypto market, according to crypto intelligence platform IntoTheBlock. The firm noted in a Feb. 28 post on X:

“Historically, spikes in on-chain activity have often coincided with market peaks and bottoms—driven by panic sellers exiting and opportunistic buyers.”

“While no single metric guarantees a price reversal, this surge suggests the market could be at a crucial turning point,” the post added.

In financial markets, capitulation refers to investors selling their positions in a panic, leading to a significant price decline and signaling an imminent market bottom before the start of the next uptrend.

Ethereum Foundation selects two individuals to lead organization

The Ethereum Foundation announced new leadership on March 1, appointing longtime Ethereum developer Hsiao-Wei Wang and Nethermind CEO Tomasz Stańczak as co-directors of the organization.

Wang has seven years of experience as a core researcher at the Foundation and Stańczak grew Nethermind from a small project into one of Ethereum’s largest execution clients and a global company.

According to the Ethereum Foundation’s announcement, both individuals will assume their roles as co-directors on March 17.

“This marks an exciting new chapter in the Foundation’s evolution as we continue to support a growing Ethereum ecosystem,” spokespeople for the Foundation added.

The change comes during a challenging time for the Ethereum ecosystem and struggling Ether (ETH) prices as investors and the Ethereum community call for a change in direction.

Trump to host first White House crypto summit on March 7

US President Donald Trump will host the first White House Crypto Summit on March 7, bringing together industry leaders to discuss regulatory policies, stablecoin oversight, and the potential role of Bitcoin in the US financial system.

The attendees will include “prominent founders, CEOs, and investors from the crypto industry,” along with members of the President’s Working Group on Digital Assets, according to an announcement shared by the White House “AI and crypto czar,” David Sacks, in a March 1 X post.

The summit will be chaired by Sacks and administered by Bo Hines, the executive director of the Working Group.

Sacks was appointed White House Crypto and AI and Czar on Dec. 6, 2024, to “work on a legal framework so the Crypto industry has the clarity it has been asking for, and can thrive in the U.S.,” Trump wrote in the announcement.