SEC, AAVE, and Ethereum Upgrades

This week, several significant events are poised to impact the crypto market. The new SEC chair ascension, developments in Ethereum’s Pectra Upgrade, and new ecosystem developments have the crypto space buzzing with anticipation.

Investors and market watchers closely monitor these events to gauge their potential influence on the market and asset prices. Here is a detailed look at what’s on the horizon.

SEC Chair’s Confirmation Hearing

This week in crypto, market participants will watch for the confirmation hearing of Paul Atkins, a pro-crypto nominee for SEC Chair, scheduled for March 27.

“Paul Atkins leveling up to SEC boss fight on March 27! Senate hearing confirmed by Semafor’s Mueller. Crypto regulation about to get the Trump treatment – expect fewer handcuffs and more innovation. Gensler’s reign of terror ending faster than a rug pull,” one user quipped.

Atkins, known for his free-market stance and regulatory expertise, is expected to shift the SEC’s approach from stringent enforcement to fostering innovation. His confirmation might expedite institutional adoption, potentially unlocking products like Ethereum staking ETFs (exchange-traded funds).

The hearing’s outcome hinges on Senate approval, introducing political uncertainty. A favorable result could boost market confidence, while delays or rejection might sustain regulatory ambiguity.

Season 3 of Ethena’s Airdrop Campaign

Ethena’s Season 3 airdrop campaign concluded on Sunday, March 23, marking the end of another reward phase for its community. With this conclusion, the claiming portal for these rewards could open soon, alongside hints of a new season.

Since the recent launch of USDtb, Ethena’s airdrops have fueled interest in its stablecoin ecosystem. Notably, past Ethena airdrops drove price volatility, a pattern that suggests anticipation will build as the portal launch nears.

Users should prepare wallets for claiming and watch Ethena’s official channels for timelines. New seasons often bring fresh incentives, potentially impacting token supply and market valuation.

AAVE Buybacks Rumors

Another top crypto news this week concerns the Aave ecosystem. Rumors suggest AAVE buybacks are expected by March 31. The speculation stems from the recently passed tokenomics proposal. This could reduce circulating supply, potentially driving price appreciation if demand holds.

Buybacks signal confidence in AAVE’s DeFi ecosystem, appealing to long-term holders. Nevertheless, chatter on X (Twitter) remains speculative, with no specific posts dominating. Still, the rumor aligns with AAVE’s governance momentum.

Crypto market participants should verify updates via AAVE’s official announcements, as timing and scale remain unconfirmed. This could counter bearish pressure if executed, but the AAVE price reaction will depend on broader conditions.

Berachain’s Proof of Liquidity

Another top crypto news item this week is Berachain’s Proof of Liquidity (PoL) consensus mechanism, which launches today, March 24. It introduces a novel staking and emissions model.

With this launch, ecosystem dApps will now “bribe” validators for token rewards, incentivizing liquidity provision. This could reshape DeFi dynamics on Berachain, a bear-themed blockchain, attracting yield farmers and developers.

Such an outcome would attract institutional capital, translating to a broader bullish sentiment. Participants should explore early dApps and monitor validator activity, as PoL’s success hinges on adoption. For now, traders and investors should look for BERA price volatility as the market tests this uncharted mechanism.

Data on CoinGecko shows BERA was trading for $6.74 as of this writing, up only by a modest 0.7% in the last 24 hours.

Ethereum’s Pectra Upgrade Activation on Hoodi

Ethereum’s Pectra Upgrade activates on the Hoodi testnet on Wednesday, March 26, making another top crypto news this week. The mainnet will deploy in late April following the recent delay.

Pectra enhances scalability and staking efficiency, potentially boosting ETH’s appeal. As BeInCrypto reported, testnet success is critical—any hiccups could delay the mainnet rollout, impacting market sentiment.

Ethereum’s Pectra Upgrade notably bears significant implications for stakers and dApp developers. A smooth upgrade could reinforce ETH’s dominance, while issues might temper optimism.