The Missouri House of Representatives has taken a significant step toward treating digital assets as sovereign wealth by advancing a revived Bitcoin strategic reserve bill. House Bill 2080 was formally referred to the House Commerce Committee on February 19 for an extensive review, which will include a public hearing and committee vote. The legislation, introduced by Missouri Representative Ben Keathley in January, proposes allowing the state treasurer to purchase cryptocurrency with official state funds.
This legislative move coincides with a challenging market environment for major cryptocurrencies. Technical analysis indicates that Dogecoin (DOGE) is trapped in a bearish cycle, with its 50-day moving average actively falling and market sentiment overwhelmed by extreme fear, despite maintaining a 24-hour trading volume of $828,410,694 as of February 23. Similarly, Ethereum (ETH) shows bearish momentum, declining 2% over the past week and underperforming the global cryptocurrency market.
Institutional attention has shifted toward XRP, which saw a 67% surge in trading volume to $2,314,002,199, driven by regulatory optimism. Ripple CEO Brad Garlinghouse recently predicted a 90% chance that the anticipated Clarity Act will pass by the end of April, signaling potential momentum for U.S. crypto regulatory clarity.
Amid this landscape, a broader market trend is emerging. Research from DWF Labs, drawing on Memento Research data, reveals that more than 80% of new token launches have fallen below their token generation event (TGE) price, with typical drawdowns of 50-70% within 90 days of listing. This has prompted a shift in investor capital from tokens to publicly listed crypto companies.
Positioning itself as an alternative is DeepSnitch AI (DSNT), an AI-driven security platform that has raised over $1,690,000 in its presale at a price of $0.04146. The project aims to monetize the demand for reliable risk analysis tools in a market filled with smart contract risks and rug pulls. The platform has seen more than 37 million tokens staked by its community. Promotional offers include a 30% token bonus for purchases using the code DSNTVIP30 and a 150% bonus for larger investments using DSNTVIP150.
Analysts project a long-term recovery for Bitcoin, with an average expected trading price of $411,466 by 2029, offering a potential ROI of 277.2%. However, the narrative promoted within the article suggests a pivot away from reliance on major asset recoveries and toward utility-driven infrastructure projects like DeepSnitch AI, which is touted as offering potential returns of up to 200x.
