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Savings models are the only way to rebuild crypto trust

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Ilya Tarutov

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

The 2021 to 2025 crypto market cycle left a trail of broken trust, with countless scams and rug pulls making everyday users feel like they were just exiting liquidity. But 2026 marks a critical turning point. The arrival of staking rewards through regulated products like ETFs signals a broader shift toward sustainable, verifiable rewards.

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Summary

  • Dormant capital signals distrust: Millions of undelegated SOL wallets show retail isn’t disengaged, it’s cautious. Users prefer inactivity over opaque risk.
  • Trust requires principal protection: Savings models like Premium Bonds and Save to Win prove that transparent rewards + protected capital build long-term participation.
  • Crypto must shift from hype to habit: Verifiable on-chain rewards, native staking by default, and incentives for consistent saving can redefine the next market cycle.

The next great crypto rally won’t come from more speculative hype. Instead, it will be driven by products that redesign incentives to mimic the simple, trusted mechanics of saving: clear rules, steady rewards from transparent sources, and absolute protection of your starting capital.

Idle retail capital highlights a deep trust gap

Previous crypto cycles were structurally optimized for insiders. Advantages in speed, information, and capital created an environment where retail participants consistently arrived late to high-risk trades.

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The result is a deep and persistent trust gap, and the on-chain evidence is impossible to ignore. A massive pool of dormant capital on Solana (SOL) proves that while the industry has captured people’s attention, it has failed to earn their sustained participation.

Currently, more than 2 million Solana wallets holding between 1 and 100 SOL remain undelegated. This means their assets aren’t used to secure the network, and that over 14 million SOL are sitting on the sidelines. Compare this to the less than 560,000 wallets in the same capital bracket that are actively staking.

What we are seeing here isn’t user apathy. It is a rational response to an ecosystem where the safest option, native staking, offers rewards that feel economically meaningless for smaller holdings, while the alternatives are correctly perceived as high-risk ventures. This idle capital is the market’s clearest signal that something fundamental needs to change.

Savings mechanics inspired by regulated markets

To bridge this trust gap, crypto must default to behaviors that feel like saving, not speculating. This means simple, repeatable actions: deposit, hold, and add regularly. Crucially, the rewards for these actions must come from transparent and verifiable network sources, like Solana’s native inflationary rewards.

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As I see it, the era of mysterious, black box DeFi models, where users rightly suspected they were the source of the rewards, has to end. Instead of reinventing the wheel, we can learn from systems that have earned public trust for decades.

Take the UK’s Premium Bonds as an example. This government-backed savings product has been trusted for over 70 years. Its mechanic is simple: your capital is 100% protected. Instead of earning typical interest, savers get a chance to receive periodic reward allocations.

Premium Bonds’ scale is enormous, with over 24 million participants and £134.6 billion in savings. In 2025 alone, £4.95 billion was distributed. It proves that a system built on absolute capital protection can build immense, long-term trust while still offering a chance at a meaningful outcome.

Introducing a similar model in the U.S., Save to Win operates through special savings accounts at credit unions. By depositing a minimum amount, a saver gets entries into periodic reward distributions.

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Again, the saver’s original money is never at risk. A study showed 56% of participants were first-time savers, proving the model effectively builds healthy financial habits. These regulated systems show that adding engaging layers to savings works, but only when built on transparency and capital protection.

The principles for a fairer on-chain economy

For crypto builders looking to define the 2026 to 2028 cycle, these principles should be non-negotiable. Verifiable rewards should come first. Instead of opaque APYs, all rewards must originate from transparent, on-chain sources like native network inflation.

Second, platforms and protocols must protect beginners by default. The safest path, native staking, should always be the easiest and most accessible. New users shouldn’t be pushed toward high-risk activities as their first experience.

Third, good habits should always be rewarded. The system must incentivize behaviors that promote long-term health: regular saving, long-term holding, and consistent participation. It must feel like financial progress is possible, even with small amounts.

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The new mantra for builders should be “slower but clearer.” This is how we prepare for the next phase of sustainable growth, moving away from short-term hype.

From speculation to savings

Crypto’s next wave of adoption won’t be driven by a new token or a flashy new trend. It will be powered by products that feel fundamentally fair, safe, and savings-oriented to everyday people.

This is a call to action for the entire industry. Builders, investors, and even regulators must work to standardize these mechanics. We need to prioritize principal-protected incentives, demand transparent reward sources, and design systems that reward sound financial habits.

If we successfully make this shift, crypto can finally achieve the same level of ingrained trust as traditional savings vehicles. This is how we unlock the vast sea of dormant capital sitting on the sidelines.

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Ilya Tarutov

Ilya Tarutov

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Ilya Tarutov is the founder of Tramplin, a premium staking platform built on Solana with verifiable and random distribution of outsized rewards. Since 2015, he has worked in crypto with a long-term focus on building and investing across Web3 and AI. He also founded iTreasury.io, an investment team backing crypto and AI startups; its publicly listed portfolio includes 54 projects across infrastructure and early-stage companies. Tarutov is also a co-founder of MixBytes, a blockchain security firm specializing in smart contract audits.

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Crypto World

Oil shock and inflation fears drag down bitcoin :Crypto Daybook Americas

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CoinDesk 20 members’ performance

By Francisco Rodrigues (All times ET unless indicated otherwise)

Bitcoin fell more than 3.5% to below $67,000 as escalating tensions in the Middle East drove investors out of risk assets and into the U.S. dollar.

As the conflict escalates, Iran has threatened to close the Strait of Hormuz, a key shipping lane that carries roughly one-fifth of global oil supply.

Shipping rates for crude and liquefied natural gas tankers surged after vessels were targeted in the region and several operators suspended activity. Brent crude climbed more than 13% in the past five days, while freight costs for large oil tankers reached record levels.

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The shock is hitting financial markets. The dollar index (DXY) is up nearly 1% and U.S. Treasury yields moved higher as investors move away from risk assets, including cryptocurrencies, reflecting expectations that central banks may face renewed inflation pressure from rising fuel costs.

Bitcoin had briefly approached $70,000 earlier in the week but reversed course as the conflict erupted. Cryptocurrency prices have nevertheless remained range-bound despite the escalation.

The initial U.S. strike on Iran over the weekend pushed bitcoin and ether lower, triggering about $300 million in long liquidations, but QCP Capital analysts described the deleveraging as orderly compared with previous episodes earlier this year.

The analysts added that options markets showed a brief spike in short-term volatility, though positioning suggests traders were prepared for weekend risk.

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“If we recall the previous U.S. strike on Iran last June (also a weekend), BTC broke below $100,000 as the news broke only to trade back above on Monday, and subsequently rallied to a high of $123k a few weeks later,” QCP Capital analysts wrote. “While the scale of this attack is far greater than last year’s, price action could be hinting at early signs of history repeating itself.”

Options flows show buyers are positioning themselves for a potential rally beyond the $70,000 mark. That suggests investors are looking for a rebound this month after the market’s severe downturn.

The Strait of Hormuz remains central to the standoff, with conflicting statements from Iranian and U.S. officials over whether the waterway is closed. U.S. President Donald Trump has said the war is expected to last “four to five weeks.” Stay alert!

Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today

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What to Watch

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead“.

  • Crypto
    • March 3: SolCex mobile app to launch on Google Play and Apple’s App Store.
  • Macro
    • March 3, 5:00 a.m.: Eurozone inflation rate YoY flash for February (Prev. 1.7%); Core YoY (Prev. 2.2%)
  • Earnings (Estimates based on FactSet data)
    • March 3: Antalpha Platform Holdings (ANTA), pre-market, $0.19

Token Events

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead“.

  • Governance votes & calls
    • ShapeShift DAO is voting to appoint PTT as the Tokenomics Workstream Leader for a 6-month term, compensated entirely in FOX tokens to eliminate stablecoin costs. Voting ends March 3.
    • Decentraland DAO is voting to explore the automatic execution of approved proposals and soft term limits for signer keys while maintaining emergency oversight. Voting ends March 3.
  • Unlocks
  • Token Launches

Conferences

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead“.

Market Movements

  • BTC is down 3% from 4 p.m. ET Monday at $66,918.56 (24hrs: +0.57%)
  • ETH is down 4.04% at $1,959.34 (24hrs: unchanged)
  • CoinDesk 20 is down 3.45% at 1,927.49 (24hrs: +0.59%)
  • Ether CESR Composite Staking Rate is up 1 bps at 2.86%
  • BTC funding rate is at -0.0009% (-1.0162% annualized) on Binance
CoinDesk 20 members’ performance
  • DXY is up 0.89% at 99.25
  • Gold futures are down 0.30% at $5,278.60
  • Silver futures are down 4.65% at $84.18
  • Nikkei 225 closed down 3.06% at 56,279.05
  • Hang Seng closed down 1.12% at 25,768.08
  • FTSE 100 is down 2.76% at 10,478.54
  • Euro Stoxx 50 is down 3.49% at 5,777.18
  • DJIA closed on Monday down 0.15% at 48,904.78
  • S&P 500 closed unchanged at 6,881.62
  • Nasdaq Composite closed up 0.36% at 22,748.86
  • S&P/TSX Composite closed up 0.59% at 34,541.30
  • S&P 40 Latin America closed down 0.82% at 3,741.78
  • U.S. 10-Year Treasury rate is up 9 bps at 4.05%
  • E-mini S&P 500 futures are down 1.83% at 6,762.25
  • E-mini Nasdaq-100 futures are down 2.30% at 24,448.00
  • E-mini Dow Jones Industrial Average futures are down 1.74% at 48,104.00

Bitcoin Stats

  • BTC Dominance: 58.81%
  • Ether to bitcoin ratio: 0.029284
  • Hashrate (seven-day moving average): 977 EH/s
  • Hashprice (spot): $29.14
  • Total Fees: 2.65 BTC / $179,647
  • CME Futures Open Interest: 104,220 BTC
  • BTC priced in gold: 15.8 oz
  • BTC vs gold market cap: 4.46%

Technical Analysis

TA for March 3
  • BTC/USD weekly remains technically constrained below the 200-week EMA, with a weekly relative strength index (RSI) of 27.89 and a lack of bullish divergence confirming a sideways grind between $65,000 and $70,000.

Crypto Equities

  • Coinbase Global (COIN): closed on Monday at $185.24 (+5.34%), –5.64% at $174.80 in pre-market
  • Galaxy Digital (GLXY): closed at $21.73 (+5.54%), –5.66% at $20.50
  • MARA Holdings (MARA): closed at $9.45 (+5.70%), –4.97% at $8.98
  • Riot Platforms (RIOT): closed at $16.43 (+0.86%), –5.11% at $15.59
  • Core Scientific (CORZ): closed at $16.49 (–2.83%), –3.76% at $15.87
  • CleanSpark (CLSK): closed at $10.55 (+6.03%), –4.83% at $10.04
  • Exodus Movement (EXOD): closed at $10.47 (+2.65%)
  • CoinShares Bitcoin Mining ETF (WGMI): closed at $40.43 (+1.38%), –4.23% at $38.72
  • Circle Internet Group (CRCL): closed at $96.14 (+15.22%), –6.57% at $89.82
  • Bullish (BLSH): closed at $33.81 (+7.71%), –2.69% at $32.90

Crypto Treasury Companies

  • Strategy (MSTR): closed at $137.65 (+6.29%), –4.42% at $131.56
  • Strive Asset Management (ASST): closed at $8.73 (+9.95%), –4.24% at $8.36
  • Sharplink (SBET): closed at $7.39 (+8.36%), –5.41% at $6.99
  • Upexi (UPXI): closed at $0.88 (+32.73%)
  • Lite Strategy (LITS): closed at $1.12 (–0.88%)

ETF Flows

Spot BTC ETFs

  • Daily net flow: $458.2 million
  • Cumulative net flows: $55.24 billion
  • Total BTC holdings ~ 1.27 million

Spot ETH ETFs

  • Daily net flow: $38.7 million
  • Cumulative net flows: $11.67 billion
  • Total ETH holdings ~ 5.67 million

Source: Farside Investors

While You Were Sleeping

Japan prime minister Sanae Takaichi disavows Solana meme coin after it crashes by 75% (CoinDesk): Japan’s prime minister says she has no knowledge of or involvement in a Solana-based meme token that briefly reached a $27.7 million market cap before tumbling.

Iran war live: Israel strikes Tehran and Beirut; drones hit US embassy in Riyadh (Reuters): Explosions tore through Tehran and Beirut and financial markets worldwide crumbled at the prospect of prolonged disruption to global energy supplies from U.S.-Israeli attacks on Iran.

U.S. closes 2 Gulf embassies as Iran steps up retaliation (The New York Times): The U.S. closed its embassies in Saudi Arabia and Kuwait after drone attacks and urged Americans to depart immediately from 14 Middle East countries, as Iran expanded its retaliatory strikes.

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Dow futures fall; oil prices rise (The Wall Street Journal): Futures for the three main U.S. indexes dropped at least 1.4%. Stocks in Europe and Asia skidded, and oil prices rose, as the Middle East conflict showed signs of escalating on its fourth day.

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Crypto World

Sanae Token Hits $27M Before Japan PM Denies Links

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Sanae Token Hits $27M Before Japan PM Denies Links

A cryptocurrency using the name of Japanese Prime Minister Sanae Takaichi briefly surged to a market value of about $27.7 million before sliding sharply after Takaichi publicly denied any connection to the token.

In a statement posted on X, Takaichi said she had no knowledge of the “Sanae Token,” adding that neither she nor her office had granted any approval related to it. She said the clarification was issued to prevent public misunderstanding. 

“Due to the name, it seems there are various misunderstandings, but regarding this token, I have absolutely no knowledge of it, nor has my office been informed about what this token entails,” she wrote. 

According to crypto data tracker Gmgn, the Solana-based crypto token briefly reached a market capitalization of $27.7 million on Feb. 25. Following Takaichi’s denial, its price and market cap declined sharply. At the time of writing, the token’s market capitalization stood at about $7 million.

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Sanae Token’s price chart. Source: Gmgn

FSA considers investigating the token

Japan’s Financial Services Agency (FSA) is reportedly considering investigating parties involved in the token’s issuance.

According to Kyodo News on Tuesday, the regulator is weighing a probe into related operators to confirm the relevant facts. The FSA has not publicly announced a formal investigation.

Related: Bank of Japan testing blockchain settlement for bank deposits in new sandbox

The report said the company involved may lack the registration required to issue crypto assets in Japan.

Under Japan’s Payment Services Act, crypto asset exchange service providers must register with the FSA. Operating without proper registration can draw regulatory scrutiny, particularly where consumer protection concerns arise.

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Political-name tokens draw scrutiny globally

Tokens referencing public figures have surfaced in multiple jurisdictions during recent speculative market cycles. 

In the US, tokens referencing President Donald Trump have periodically gained traction before the president announced an official token. 

On Jan. 17, 2025, Trump’s team announced the launch of an official Trump memecoin. The token briefly rose to about $73 before declining sharply. At the time of writing, it trades around $3.40, roughly 95% below its peak.

In Argentina, the Solana-based Libra token sparked an international scandal in February 2025 after President Javier Milei promoted it on X shortly after launch.

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On Feb. 18, 2025, the token surged above $4.50 within minutes before crashing below $0.20 within hours, prompting allegations of a pump-and-dump scheme.