The rating agency will provide its perspective on risk mitigation in tokenized fixed income transactions.
The cryptocurrency market has taken another step towards regulated and mass investment in cryptocurrencies with the first-ever application for a Solana ETF in the US by asset manager and Bitcoin ETF issuer VanEck. Following the approval of spot Bitcoin ETFs in January and the anticipated launch of Ethereum ETFs in July, this development marks another milestone in expanding cryptocurrency investment options for retail and institutional investors. The news of VanEck’s Solana ETF filing with the US Securities and Exchange Commission (SEC) caused a surge in the native token SOL, with its price rising nearly 8% upon disclosure by Matthew Sigel, VanEck’s head of digital asset research. VanEck’s Confidence In Its Solana ETF Filing In a social media post, Sigel highlighted VanEck’s reasons behind the filing, emphasizing Solana’s potential as a competitor to Ethereum and its ability to support various applications such as payments, trading, gaming, and social interactions. Describing Solana as open-source blockchain software designed for scalability, speed, and low costs, Sigel explained that the platform offers an enhanced user experience across multiple use cases. Related Reading: Fears Of Bitcoin Sales By US And German Govts Are FUD, Even Bullish: Experts Sigel also cited Solana’s ability to process thousands of transactions per second at low fees and use a secure mechanism based on proof-of-history and proof-of-stake as reasons for the bold move to file the Solana ETF with the SEC on Thursday. VanEck believes that Solana’s high throughput, low fees, strong security, and vibrant community make it an attractive option for an ETF, providing investors with exposure to an innovative open-source ecosystem. In addition, Sigel believes that the native token SOL serves as a means of payment for transaction fees and computing services on the Solana blockchain, similar to Bitcoin and Ethereum in their respective networks, suggesting that it should be classified as a commodity rather than a crypto security, thus having a strong argument for SEC approval of the Solana ETF. Analysts Anticipate Bullish Sentiment While the news of a Solana ETF filing has generated excitement, some experts express caution. For instance, Bloomberg ETF expert James Seyffart suggests that the Solana ETF might only launch in 2025 under a new administration in the White House and SEC as the anticipated election date in the US nears, with crypto regulation as one of the main topics in the race for the White House. In addition, market analyst Adam Cochran highlights unresolved SEC claims and Chicago Mercantile Exchange (CME) futures volume requirements in the US as potential challenges to ETF approval. Cochran further said: If this does get approved though, floodgates opened, we’re getting ETFs for everything and it would be a wildly bullish market for every single coin. Related Reading: Why Is The Bitcoin Price Down Today? Ultimately, the filing of a Solana ETF by VanEck sets an important precedent for the cryptocurrency market. If successful, it could pave the way for broader adoption and recognition of Solana as a valuable digital commodity, offering investors, builders, and entrepreneurs alternative opportunities. At the time of writing, SOL was trading at $147 and even reached the $150 resistance line, which would be a near-term obstacle for the token in its intentions to regain previously lost levels. Featured image from DALL-E, chart from TradingView.com
Paradigm has raised alarms over the European Securities and Markets Authority’s (ESMA) proposed regulations under the Markets in Crypto Assets Regulation (MiCA), focusing on the misinterpretation of Maximum Extractable Value (MEV) and the potential overreach of regulatory measures. In a detailed response to ESMA’s third consultation package, the firm outlined potential negative impacts on both […]
The post Paradigm urges ESMA to reconsider stance toward MEV appeared first on CryptoSlate.
The nonprofit suing OpenAI produces the Mother Jones and Reveal news websites.
Bitcoin is in focus, especially now that the broader market is in the red and some sectors, mostly meme coins, are sliding. Even as BTC comes under immense selling pressure, on-chain data points to strength. Over 1 Million Bitcoin Wholecoiners While the price struggles for traction, the number of wholecoiners, or addresses with at least […]
Two Bitcoin ETFs launched in Australia in June — after six Bitcoin and Ethereum ETFs launched in Hong Kong in April. We'll see soon if more enter the market.
The Worldcoin Foundation announced a $70,000 grant to Wormhole to support WorldID verification on the Solana blockchain. In a June 27 statement, Worldcoin said the ID integration effort will “equip the Solana ecosystem with a much-needed tool” for proving humanness. The grant awards 25,000 WLD to Wormhole. Wormhole described the grant in greater detail, stating […]
The post Worldcoin’s WorldID to arrive on Solana via Wormhole grant appeared first on CryptoSlate.
It’s unclear whether Keisha Lance Bottoms will advise the campaign on crypto, but she spoke about digital assets in Atlanta the day before the presidential debate.
Discover all crypto token unlocks in July, with Xai, AltLayer, Arbitrum, and Aptos leading over $350 million in releases.
The post Crypto market faces $860M token unlocks in July appeared first on Crypto Briefing.
Onchain Highlights DEFINITION: The Estimated Leverage Ratio is the ratio of the open interest in futures contracts to the balance of the corresponding exchange. Bitcoin’s futures estimated leverage ratio indicates shifts in market sentiment. Since January 2024, the ratio exhibited volatility, initially fluctuating around 0.17 before rising to 0.216 in early June. This increase coincided […]
The post Bitcoin futures leverage ratio’s sharp June fluctuation hints at market deleverage phase appeared first on CryptoSlate.
Thursday’s presidential debate, hosted by CNN, could thrust Bitcoin and crypto into the political limelight.
Telegram-based Notcoin (NOT) recently carried out a token burn that paints a bullish outlook for the crypto token’s ecosystem. This comes amid a recent price recovery for the NOT token, with fundamentals suggesting that more price surges may be imminent. Notcoin Burns 210 Million NOT Tokens Notcoin revealed in an X (formerly Twitter) post that they had just burned 210 million NOT tokens ($3 million). They noted that the crypto token’s tokenomics is now “extremely community-oriented” thanks to this. They further revealed that 94.18% of Notcoins are held by 11.5 million people, including traders, miners, and stakers, among others. Meanwhile, 5.82% of Notcoin’s total supply is in the treasury, which will be used for development. Related Reading: Dogecoin Sees Rapid Accumulation Amid Price Crash, Whale Transactions Soar The token burn carried out by the team is undoubtedly bullish for Notcoin’s ecosystem, especially if the demand for the crypto token continues to increase. Moreover, the 210 million tokens burned represent a significant supply given that Notcoin boasts a circulating supply of just over 102 billion, according to data from CoinMarketCap. Meanwhile, as highlighted by the team, NOT is now more community-driven based on how the crypto token is evenly distributed among community members. This could further boost investors’ confidence in Notcoin and its ecosystem since the team isn’t greatly armed with a large percentage of the token’s supply, which could cause the market to crash. Meanwhile, Notcoin revealed that $4.2 million worth of Notcoin will be awarded as an incentive for Gold and Platinum users of Notcoin Explore. The ‘Explore’ initiative lets users earn NOT and other bonuses from projects by completing various tasks. Crypto projects can add Notcoins to the Explore pool and create a campaign involving users completing multiple tasks. On the one hand, this is an excellent way for teams to promote their projects since NOT boasts an active player base of 40 million users. On the other hand, this initiative is another bullish fundamental for the crypto token’s ecosystem as it could help increase the demand for Notcoin and ultimately drive up its value. NOT Also Bullish From A Technical Analysis Perspective Several crypto analysts have also analysed Notcoin, presenting a bullish outlook for the crypto token. Crypto analyst Captain Faibik recently mentioned that Notcoin is on the verge of a “massive wedge upside breakout.” From the chart he shared, Notcoin could rise to as high as $0.03 when it successfully breaks out from its current price levels. Related Reading: Bitcoin Crash Not Done: CoinShares Analyst Predicts ‘True Correction’ Amid Outflows Crypto analyst Planfomo also shared a similar sentient. He stated he is getting more confirmation that the bullish falling wedge pattern on Notcoin’s chart could play out. His chart showed that Notcoin could eventually rise to as high as 0.038 when this breakout finally occurs. This will represent a new all-time high (ATH) for Notcoin, with its current ATH at $0.028. Featured image created with Dall.E, chart from Tradingview.com
Roaring Kitty (aka Keith Gill) can influence more than just GameStop's stock price, as seen with Chewy and other pet-care companies Thursday.
Quick Take Bitcoin transaction fees have significantly dropped from their previous highs since the halving, based on Dune Analytics data. Currently, fees are considerably lower, driven partly by the activity around Runes. Shortly after the halving, Runes number of transactions surged to over 750,000, but they have now settled to around 30,000. In early June, […]
The post Who reigns supreme? – Runes vs. BRC-20 tokens appeared first on CryptoSlate.
The venture capitalist firm said ESMA’s approach to crypto market abuse could be a disaster for the industry without suggesting any better ideas.
In a scathing public statement today, Ripple Chief Legal Officer (CLO) Stuart Alderoty criticized SEC Chairman Gary Gensler following a recent court decision, which Alderoty highlighted as indicative of regulatory overreach. As highlighted by Alderoty, the US Securities and Exchange Commission (SEC) unlawfully rescinded a rule concerning proxy advisory firms, an action directed by Gensler […]
The post Solana ETF To Get Launch In 2025 Says Senior Bloomberg Analyst appeared first on Coinpedia Fintech News
After Bitcoin & Ethereum ETF, now VanEck, a prominent investment management firm based in New York City, has filed for a Solana ETF. However, doubts hover over whether the current administration will approve it. Notably, Senior Bloomberg ETF Analyst James Seyffart predicts that a Solana ETF could hit the market by 2025. Solana ETF To …
The crypto ecosystem experienced significant losses in the second quarter of 2024, with a total of $572.7 million lost due to hacks and frauds — up 112% compared to the same period a year ago, according to Immunefi’s latest quarterly breakdown report. Meanwhile, year-to-date (YTD) losses due to hacks and frauds have reached $920.9 million, […]
The post Crypto losses stemming from hacks, rug pulls up 112% YoY – Immunefi appeared first on CryptoSlate.
Tron’s total value locked (TVL) plummeted to a six-month low of $7.6 billion as TRX price rallied. Cointelegraph investigates.
Compliance platform Au10tix said that although a credential was leaked, there is no evidence that it was used to obtain customer data, and Coinbase said it is unaware of any breach.
The post Ethereum Holding Crucial Support Level, Top Analyst Predicts Potential Breakout appeared first on Coinpedia Fintech News
The crypto market’s attention has turned to the upcoming spot Ethereum ETFs, which is likely to be approved by July 4, and expected to attract up to $15 billion in initial investments. Ethereum has recently faced a sell-off after Bitcoin’s drop, but today it quickly bounced back today with Ethereum surging by 3% and trading …
Chainlink (LINK) , the oracle network powering the decentralized world, has been stirring up excitement after a recent surge past a critical resistance level. Analysts are now predicting a potential price explosion, with some even charting a course for the moon. However, lurking beneath the bullish sentiment are shadowy movements by large investors, injecting a dose of uncertainty into the mix. Related Reading: Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase Chainlink Escapes The Triangle, Eyes Set On The Sky After a period of decline, LINK has shown signs of life, decisively breaking above the $13 resistance level. This bullish move has sparked a wave of optimism, with many analysts predicting a sustained uptrend. Morecryptoonl, a renowned crypto analyst, identified a significant Elliott Wave pattern in LINK’s price action. According to this analysis, LINK is currently undergoing a consolidation phase within a triangle pattern. While this pattern can indicate a period of sideways movement, a breakout above a key resistance level of $14.85 could signal a significant shift in momentum. $LINK: Wave (B) in white could unfold as triangle pattern but the price, in this case, has to stay below the yellow line at $14.85. A break above this line will indicate that a larger corrective rally in yellow wave (B) is unfolding.#chainlink #LINK #altcoins pic.twitter.com/eGngNm0eEH — More Crypto Online (@Morecryptoonl) June 25, 2024 Bullish forces are further emboldened by the current Relative Strength Index (RSI) sitting at a neutral 43. This suggests that LINK is neither overbought nor oversold, leaving plenty of room for potential growth. Technical indicators aside, World of Charts is predicting a “sustained bullish trend” if LINK can definitively break free from its current consolidation pattern. Their optimistic forecast paints a picture of LINK reaching lofty heights between $22 and $25. Whales Stir The Waters: Selling Spree Or Strategic Shuffle? A recent wrinkle in the bullish narrative has been the movement of large amounts of LINK by whales, entities holding significant crypto holdings. Over 18 million LINK tokens were recently transferred to exchanges, raising concerns about potential selling pressure that could dampen the current rally. Related Reading: Solana Trading Plunges 93% In 24 Hours: Where Did The $100 Billion Go? However, some analysts caution against jumping to conclusions. They argue that such movements are not uncommon and could be part of a larger investment strategy, not necessarily a prelude to a selloff. A Bumpy Ride Ahead? While the future looks bright for LINK, investors should be prepared for a rollercoaster ride. The cryptocurrency market is notoriously volatile, and LINK is no exception. While the current technical analysis paints a bullish picture, unforeseen events or market fluctuations could quickly derail the positive momentum. Featured image from Pexels, chart from TradingView
Wormhole will tap Solana-based protocols to verify user’s Worldcoin World IDs that were originally verified on Ethereum.
Ethereum's Vitalik Buterin joins as an investor in MegaETH, which has raised $20 million to enhance blockchain technology.
The post Vitalik backs new Ethereum-compatible chain MegaETH in $20M round appeared first on Crypto Briefing.
BlackRock's BUIDL fund now supports Mountain Protocol's wUSDM, increasing its security and utility for DeFi applications.
The post BlackRock’s BUIDL fund backs Mountain Protocol’s wUSDM stablecoin appeared first on Crypto Briefing.
World’s largest cryptocurrency exchange, Binance, is executing another crypto delisting spree, with popular doggy-themed meme coin, Shiba Inu (SHIB), among the list of casualties. The listing will see several trading pairs including Shiba Inu effectively terminated from the exchange this month. Binance Delist SHIB/TUSD Trading Pair In a blog post on June 26, Binance announced its plans to […]
The change came after some Binance Link clients reportedly took advantage of the program's multi-tiered fee structure through arbitrage.
Solana's CHWY token jumps 11,000% after a dog picture by Roaring Kitty goes viral. DEXTools confirms the spike.
The post Solana meme coin CHWY jumps 11,000% on Roaring Kitty’s dog post appeared first on Crypto Briefing.
The post Top Gainer Crypto Solana and Avalanche See Major Gains Amid Market Recovery appeared first on Coinpedia Fintech News
With the crypto market recovering from its recent fall, most cryptocurrencies are trading in the green, with Bitcoin showing a 1.8% increase. This comes after several negative trading days that significantly impacted the market. Among the top gainers are Solana and Avalanche, with Solana surging by 9.3% and Avalanche by 8% seen in the last …
The Federal Reserve’s leadership seemingly views generative AI as a “super analyst” capable of turbocharging the agency’s work process.