Trump’s Summit, ENA Unlock, and More

This week in crypto, several major events are in the pipeline, with the potential to affect traders’ and investors’ portfolios. Among the top stories include the White House crypto summit, massive ecosystem-specific token unlocks, and Tron blockchain moving forward with its recent commitments.

With the following headlines primed to influence investor sentiment, traders should adjust their strategies to capitalize on the volatility.

White House Crypto Summit

Slated for Friday, March 7, US President Donald Trump’s crypto summit at the White House is the highlight of crypto news this week. The hype comes after the President’s executive order commissioning a crypto reserve featuring assets like Solana (SOL), Cardano (ADA), and Ripple’s XRP token.

The reserve also contains Bitcoin (BTC) and Ethereum (ETH), given their heft as the pioneer crypto and altcoin, respectively.

“…And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum,” read a post on Trump’s Truth Social.

Analysts at Greeks.live note the potential impact of the crypto summit on Bitcoin, given its growing reaction to macroeconomic data. Beyond this, they also cite the potential of Trump’s tariffs on Mexico and Canada, which are due for execution on Tuesday, March 4. Amidst the expected volatility, the analysts see opportunities for investors.

“The most notable event this week is the cryptocurrency summit coming up in the US on the 7th of March…Trump’s every move greatly affects the cryptocurrency market…With Trump’s tariff policy on Mexico and Canada coming into effect on Tuesday and important economic events on other days, events drive rare trading opportunities,” they wrote.

Ethena (ENA) Unlock

Also among the top crypto news items this week is the Ethena token unlock, due on March 5. On Wednesday, the Ethena network will unlock 2.07 billion ENA tokens, constituting 66.19% of its circulating supply and worth $910.15 million at current rates.

Given the typical market reaction of such events on asset prices, this event could inspire volatility for ENA. BeInCrypto recently reported that 90% of token unlocks drive prices down. Citing Keyrock Research, the report articulated how larger events cause sharper declines.

This means the Ethena token unlocks could see the ENA price drop significantly, especially if recipients quickly cash in for early gains. Other token unlocks to watch include Portal (PORTAL), AltLayer (ALT), and NFPrompt (NFP).

Pectra Upgrade Debut on Sepolia Testnet

Ethereum’s Pectra Upgrade will debut on the Sepolia Testnet on March 5. It features eight key enhancements, including wallet and staking improvements. The upgrade follows testing on the Holesky testnet on February 24.

These testnet deployments ensure stability before the mainnet implementation in April. Notably, the April launch marks a postponement after initial reports indicated a March launch. The delay comes amid a broader push for rigorous testing and coordination necessary for a smooth transition.

“EF Developer Operations Engineer Parithosh Jayanthi shared an update on the status of Pectra Devnet 6. He affirmed that the devnet is “doing well” and the validator participation rate is near perfect,” read a recent report, citing Parithosh Jayanthi, Ethereum Foundation’s Developer Operations Engineer.

Beyond the Pectra Upgrade, the Ethereum Foundation is also planning for Fusaka, which is expected to bring many enhancements to the Ethereum Virtual Machine (EVM) and increase block capacity. 

GMX Perpetual DEX Debut on Sonic

Further, crypto markets anticipate the launch of the GMX perpetual DEX (decentralized exchange) on Sonic. GMX, which boasts over $243 billion in historical volume, could launch a new Layer-1 (L1) blockchain from Fantom’s lineage, boasting 10,000 TPS on Sonic.

Currently on Arbitrum (ARB) and Avalanche (AVAX), GMX could leverage Sonic’s speed for faster, cheaper trades, tapping into a fresh ecosystem after its $1 million Hackathon. This could potentially boost GMX’s $456 million TVL (total value locked) towards rivaling peers like Hyperliquid at $642 million.

The GMX token, trading for $18.03 as of this writing, and Sonic’s S token could see speculative gains. Notably, however, the rumor remains unconfirmed.

MegaETH Testnet Launch

Additionally, MegaETH, an Ethereum Layer-2 network, aims to redefine blockchain performance with 100,000 TPS and sub-10ms block times. It targets real-time use cases like blockchain gaming and high-frequency trading.

Backed by $30 million from Vitalik Buterin, Dragonfly Capital, and others, MegaETH’s EVM-compatible platform promises seamless app integration. The testnet, kicking off in two days, will not be incentivized per X posts, but it is a chance to preview its tech—think Netflix-like speed on-chain.

“MegaETH has made know that their testnet would not be Incentivized,” a user on X indicated.

The mainnet is slated for late 2025, and no confirmed token launch has yet been announced, though speculation swirls about crypto airdrops. MegaETH could juice Ethereum’s ecosystem for markets, boosting ETH if adoption spikes, but its centralized sequencer raises decentralization concerns.

Tron Gas-Free Transactions for USDT

Another highlight this week is Tron blockchain’s planned gas-free transactions for USDT stablecoin. Once praised for cheap USDT transfers, Tron has seen fees soar to $3.20-$6.50 per TRC-20 USDT transaction, outpacing Ethereum’s $0.40 ERC-20 fees.

This shift eroded its cost edge, prompting founder Justin Sun to announce a “Gas Free” feature that would roll out within a week of February 25.

“Tron’s Gas Free feature supporting USDT gas payments without the need for TRX will launch within the next week,” Sun shared on X.

This means users can send USDT without needing TRX for fees, simplifying the process. Tron handles over $60 billion in USDT—51% of its supply—making this significant. It aims to reclaim affordability, boost adoption, and ease stablecoin use for big firms. Fees spiked to $9 in late 2024, so this could revive Tron’s appeal.