This week in crypto, several major events are in the pipeline

This week in crypto, several major events are in the pipeline, with the potential to affect traders' and investors' portfolios.

This week in the crypto sphere promises a blend of anticipation and potential volatility as several major events come into play. Among the noteworthy events is the highly anticipated crypto summit at the White House, where President Donald Trump will host an assembly of crypto traders and investors.

The gathering follows the President’s executive order commissioning a crypto reserve featuring assets like Solana (SOL), Cardano (ADA), and Ripple’s XRP token.

Among the tokens set to feature in the reserve are Bitcoin (BTC) and Ethereum (ETH), given their heft as the pioneer crypto and the largest 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.

As the crypto summit at the White House approaches on Friday, March 7, analysts at Greeks.live highlight the potential impact 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 Token Unlock to Drive Volume

Also among the events to watch this week is the Ethena (ENA) token unlock, which will see 2.07 billion ENA tokens unlocked on March 5, constituting 66.19% of its circulating supply and currently worth $910.15 million.

The event will likely bring volatility for ENA, given the typical market reaction of such events on asset prices. 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 to Debut on Sepolia Testnet

This week will also see Ethereum’s Pectra Upgrade debut on the Sepolia Testnet on March 5. The upgrade features eight key enhancements, including wallet and staking improvements.

It 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 nearly 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 press time, and Sonic’s S token could see speculative gains. Notably, however, the rumor remains unconfirmed.

MegaETH Testnet Launch in Two Days

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