Bitcoin and Ethereum price update

Bitcoin (BTC) is currently trading at US$88,171.35, reflecting a 3.73 percent decrease over the past 24 hours. The day’s trading range has seen a high of US$91,500 and a low of US$87,900.

Ethereum (ETH) is priced at US$2,175.82, marking a slump of 4.35 percent over the same period. The cryptocurrency reached an intraday high of US$2,300 and a low of US$2,150.

Altcoin price update

• Solana (SOL) is currently valued at US$140.37, down 4.93 percent over the past 24 hours. SOL experienced a high of US$145 and a low of US$138 during Monday’s trading session.

• XRP is trading at US$2.48, reflecting a 1.42 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.55 and a low of US$2.45.

• Sui (SUI) is priced at US$2.70, showing a 1.48 percent decrease over the past 24 hours. It achieved a daily high of US$2.75 and a low of US$2.68.

• Cardano (ADA) is trading at US$0.8574, reflecting an 11.92 percent decrease over the past 24 hours. Its highest price on Monday was US$0.9000, with a low of US$0.8500.

Crypto news to know

Trump signs order to establish US Strategic Bitcoin Reserve

President Donald Trump has officially signed an executive order establishing a Strategic Bitcoin Reserve, marking the first time the U.S. government has formally recognized Bitcoin as a national reserve asset.

The reserve will consist of Bitcoin already held by the government, primarily from criminal seizures, rather than new purchases—a move that disappointed many in the crypto industry who had hoped for direct market acquisitions.

The announcement triggered significant market volatility, with Bitcoin initially dropping 5 percent to US$85,000 before rebounding to US$89,200 in early European trading.

White House Crypto Advisor David Sacks stated that while no immediate purchases are planned, the Commerce and Treasury Departments will explore “budget-neutral” strategies to acquire more Bitcoin in the future without burdening taxpayers.

While some view the move as a major step toward crypto legitimacy in the US, critics argue it’s largely symbolic. Andrew O’Neill of S&P Global Ratings noted that the reserve ‘only formalizes existing holdings’ and lacks a clear strategy for future acquisitions.

Beyond Bitcoin, the White House also announced the creation of a US Digital Asset Stockpile, which will include Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA)—but, like the Bitcoin reserve, it will only consist of tokens seized by the government. The White House has yet to clarify how these assets will be managed or utilized in the long term.

Solana co-founder slams US crypto reserve, citing decentralization risks

Solana co-founder Anatoly Yakovenko has publicly criticized the US Strategic Bitcoin Reserve, warning that a government-controlled crypto reserve could undermine decentralization and give regulators disproportionate control over digital assets.

In a post on X (formerly Twitter), Yakovenko suggested that individual state-level reserves could be a better alternative, allowing for greater decentralization and preventing a single federal authority from dominating the space.

He also called for any reserve to be based on ‘objectively measurable requirements’ rather than political or arbitrary decisions, hinting that such criteria could favor Bitcoin while excluding other assets.

His remarks come after President Trump announced that five cryptocurrencies—Bitcoin, Ethereum, XRP, Solana, and Cardano—would be part of the U.S. Digital Asset Stockpile.

Nebraska passes landmark crypto fraud prevention bill amid rising scams

Nebraska lawmakers have overwhelmingly approved the Controllable Electronic Record Fraud Prevention Act (LB609), a groundbreaking bill aimed at regulating cryptocurrency kiosks and curbing digital asset scams.

The legislation, which passed its final reading on March 6 and now awaits Governor Jim Pillen’s signature, introduces several consumer protection measures, including:

• Mandatory licensing for crypto kiosk operators to prevent fraudulent companies from entering the market.
• Daily transaction limits to reduce financial losses from scams.
• Fraud warning notices displayed on crypto kiosks, informing users about potential risks.
• Transparent transaction receipts to improve traceability and help law enforcement track illicit activity.
• Fee caps to prevent excessive charges on transactions.
• Refund requirements for fraudulent transactions, ensuring victims have some level of financial protection.

State officials say Nebraska residents lost US$14.6 million to crypto scams last year, though the actual figure is likely higher due to underreporting.

Governor Pillen has five days to sign or veto the bill, though insiders expect it to pass without opposition.

If enacted, Nebraska will become one of the first U.S. states to implement comprehensive regulations for cryptocurrency kiosks, setting a precedent that other states may follow.

Crypto kiosks—often found in gas stations and convenience stores—allow users to buy and send digital assets, but they’ve become a major tool for scammers who coerce victims into sending funds under false pretenses. In 2023 alone, the FBI received over 5,500 complaints related to crypto kiosk fraud, totaling US$189 million in losses, with 65 percent of victims aged 60 or older.

1. Chile

Lithium reserves: 9.3 million metric tons

Chile holds the largest lithium reserves in the world at 9.3 million metric tons. The country reportedly hosts most of the world’s “economically extractable” lithium reserves, and its Salar de Atacama region houses approximately 33 percent of the world’s lithium reserve base.

Chile was the second biggest producer of lithium in 2024 at 44,000 metric tons (MT). SQM (NYSE:SQM) and Albemarle (NYSE:ALB) are the key lithium producers in Chile, with operations in the Salar de Atacama.

In late April 2023, Chilean President Gabriel Boric announced plans to partially nationalize the country’s lithium industry in a bid to bolster the economy and protect the environment. “This is the best chance we have at transitioning to a sustainable and developed economy,” he said at the time.

Chile’s state-owned mining company Codelco has negotiated for much larger stakes in both SQM and Albemarle’s lithium assets in the country, and will have controlling interests in all operations in that salar going forward.

According to the Baker Institute, Chile’s strict legal framework surrounding mining concessions has hamstrung the lithium powerhouse from gaining a bigger share of the global lithium market comparable with this mineral largess.

In early 2025, Chile received seven bids for lithium operation contracts across six salt flats, with a key contender beign a consortium of Eramet (EPA:ERA), Chilean miner Quiborax and state-owned Codelco. The government will announce winners in March 2025, while a second bidding phase has been extended to boost participation.

2. Australia

Lithium reserves: 7 million metric tons

Australia’s lithium reserves stand at 7 million metric tons, the majority of which are found in Western Australia. Unlike those found in Chile and Argentina, Australia’s lithium reserves are in the form of hard-rock spodumene deposits.

Although it is second to Chile in reserves, Australia was the largest lithium-producing country in the world in 2024, with many operational lithium mines in the country.

The country is home to the Greenbushes lithium mine, which is operated by Talison Lithium, a joint venture comprised of lithium producers Tianqi Lithium (OTC Pink:TQLCF,SZSE:002466), Australian miner IGO (ASX:IGO,OTC Pink:IPGDF) and Albemarle. Greenbushes has been producing lithium since 1985.

A sharp decline in lithium prices has led some of the country’s lithium companies to curtail or outright halt their lithium operations and development projects until market conditions improve.

While Western Australia dominates lithium exploration, new research highlights untapped potential in Queensland, New South Wales and Victoria. Published in ‘Earth System Science Data,’ the 2023 study — led by University of Sydney researchers with Geoscience Australia — maps regions with high lithium density, signaling broader opportunities for the growing battery metal market.

“We’ve developed the first map of lithium in Australian soils which identifies areas with elevated concentrations,” said Professor Budiman Minasny. “The map agrees with existing mines and highlights areas that can be potential future lithium sources.”

3. Argentina

Lithium reserves: 4 million metric tons

Argentina ranks third in terms of global lithium reserves at 4 million metric tons. It’s worth noting that Argentina, Chile and Bolivia comprise the “Lithium Triangle,” which hosts more than half of the world’s lithium reserves. The country is also the fourth largest lithium producer in the world, and last year it put out 18,000 MT of the metal.

In May 2022, the Argentine government committed to investing up to US$4.2 billion in its lithium industry over the next three years with the goal of increasing lithium output.

More recently, in April 2024, the government greenlit Argosy Minerals’ (ASX:AGY,OTC Pink:ARYMF) expansion of its operations at the Rincon salar to raise annual lithium carbonate production from 2,000 MT to 12,000 MT.

Argentina hosts around 50 advanced lithium mining projects, reports Fastmarkets. “Argentina’s lithium production remains cost-competitive even in a low-price environment,” said Ignacio Celorrio, executive VP of legal and government affairs at Lithium Argentina.

In late 2024 mining major Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) announced plans to invest US$2.5 billion to expand lithium extraction at its operations on Argentina’s Rincon salar, increasing capacity from 3,000 to 60,000 MT, with full capacity reached following a three-year ramp up period beginning in 2028.

4. China

Lithium reserves: 3 million metric tons

China holds lithium reserves of 3 million metric tons. The country has a mix of deposit types; lithium brines make up the majority of its reserves, but it has spodumene and lepidolite hard-rock reserves as well.

Last year it produced 41,000 MT of the mineral, a 5,300 MT increase from the previous year. While it does have significant production and is working to increase it, the Asian nation currently still imports most of the lithium it needs for its battery cells from Australia.

China’s lithium usage is high due to its electronics manufacturing and electric vehicle industries. It also produces the majority of the world’s lithium-ion batteries and hosts most of the world’s lithium-processing facilities.

In October 2024, the US State Department accused China of flooding the market with lithium to create a low price environment to kill off ex-China competition.

“They engage in predatory pricing… (they) lower the price until competition disappears. That is what is happening,” stated Jose W. Fernandez, the US Under Secretary of State for Economic Growth, Energy and the Environment.

In early 2025, Chinese media reported that the country has significantly bolstered its lithium ore reserves, claiming national deposits now account for 16.5 percent of global resources, up from 6 percent.

The surge is attributed in part to the discovery of a 2,800 kilometer lithium belt in the western regions, with proven reserves exceeding 6.5 million tons of lithium ore and potential resources surpassing 30 million tons. Additionally, advancements in extracting lithium from salt lakes and mica have further expanded China’s reserves.

Other lithium reserves by country

While Chile, Australia, Argentina and China are home to the world’s highest lithium reserves, other countries also hold significant amounts of the metal. Here’s a quick look at these other nations:

• United States — 1,800,000 MT
• Canada — 1,200,000 MT
• Brazil — 390,000 MT
• Zimbabwe — 480,000 MT
• Portugal — 60,000 MT

As the lithium industry continues to grow, production has followed, and many of these countries with high reserves are becoming significant producers as well.

FAQs for lithium reserves

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Ukraine welcomes Australian mining investment

According to the Nightly, Myroshnychenko said Russia is looking to break the bond between the US and Europe.

“If Russia achieves what they want, that would be a world of chaos … where might is right, where the stronger one will have the power and in this world, Australia has no chance of surviving,’ he said.

“There is a moral argument in terms of security, democracy and helping Ukraine, helping the underdog who’s been bullied; it’s all valid but I think we have to talk about money,” Myroshnychenko continued.

He opened the invitation to non-mining companies as well, noting, “This is an opportunity for Australian companies, for mining companies, to come and invest in Ukraine together with American companies.”

Australia’s support of Ukraine

Australia and Ukraine have a long history of cooperation and allyship.

The country supplied uranium to Ukraine in 2016 via an agreement where Ukraine joined other countries in a pact with Australia, ensuring that uranium obtained from Australia is designated strictly for peaceful uses.

A Nuclear Cooperation Agreement with Ukraine was announced in 2017 by Julie Bishop, then the country’s foreign affairs minister, enabling Australia to export uranium to Ukraine and enhance cooperation between the countries on activities such as nuclear safeguards, security, safety and science.

During Ukraine’s defense against Russia, Australia has assisted Ukraine by offering cash and resource support.

In 2022, the Australian mining sector and the federal government joined hands in offering donations.

Australian Resources & Investment notes said that Whitehaven Coal (ASX:WHC,OTC Pink:WHITF) produced 70,000 tonnes of thermal coal to be donated to Ukraine to support its energy security.

Major miners BHP (ASX:BHP,NYSE:BHP,LSE:BHP), Newmont (TSX:NGT,NYSE:NEM) and Anglo American (LSE:AAL,OTCQX:AAUKF), each donated US$5 million at the time for humanitarian relief.

Last October, the Australian government gifted 49 M1A1 Abrams tanks to Ukraine to assist in its fight against Russia’s invasion. This donation was valued approximately AU$245 million.

On the third anniversary of Russia’s full-scale invasion of Ukraine, an announcement by Senator Penny Wong said Australia’s military assistance to Ukraine during that time amounts to over AU$1.3 billion.

In total, the support is valued at over AU$1.5 billion.

“Australia has now imposed a total of more than 1,400 sanctions in response to Russia’s full-scale invasion of Ukraine,” Wong said. “Working with Ukraine and our partners, Australia supports a just and lasting peace for Ukraine.”

Australia seeking rare earths independence

While Myroshnychenko invited broad investment in Ukraine’s resource sector, rare earths may be of special interest to Aussie miners as the country makes moves toward rare earths supply independence.

These include strategies from both the government and mining companies such as Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF), a leading producer of rare earth materials outside of China.

Lynas owns the recently opened Kalgoorlie rare earths processing facility in Western Australia, the country’s first rare earths processing facility and the largest facility outside China.

On February 12, the Australian government passed the Critical Minerals Production Tax Incentive, which will provide a refundable tax credit on 10 percent of eligible costs associated with the production of critical minerals and rare earths.

Federal Resources Minister Madeleine King said the incentives are valued at AU$7 billion over the decade.

“The passing of this legislation is a historic moment for the resources industry and a big deal for resource states like Western Australia and Queensland,” she explained. “By processing more of these minerals here in Australia we will create jobs and diversify global supply chains.”