The Solana-based memecoin generator has hit the brakes on its livestream feature due to a wave of inappropriate content that has caused quite the uproar.
Peter Schiff criticizing U.S. Bitcoin superpower plans
Economist and maybe the world’s biggest Bitcoin critic Peter Schiff kicked the can again, this time by arguing that if the U.S. becomes a Bitcoin superpower, it would actually weaken the nation.
Bitcoin is dipping, but alts got some confident supporters
Data from Santiment reveals that cryptocurrencies like Sand, XLM, and Ether are stealing the spotlight in recent discussions. What Bitcoin dip?
Phantom Wallet’s newest chain is the Base Network
Phantom Wallet is stepping up its game by adding support for the Base Network, which means you can now swap tokens across Ethereum, Solana, Polygon, and Base.
$438 million outflows from Bitcoin ETFs, rough days ahead?
Well, it looks like the music is slowing down a bit for spot Bitcoin ETFs in the U.S.
Solana ETF – What factors impact its approval?
The potential approval of a Solana ETF (Exchange-Traded Fund) has been a topic of significant interest within the cryptocurrency community.
Current Status and Optimism:
There’s growing optimism around the possibility of a Solana ETF following the approvals of Bitcoin and Ethereum spot ETFs. Several firms, including VanEck, 21Shares, and Canary Capital, have filed applications for a Solana ETF, indicating a strong interest from the financial sector.
The SEC’s engagement with these issuers on S-1 applications suggests some level of progression, although final approval is not guaranteed.
Factors Impacting Approval:
Regulatory Classification:
A primary hurdle for Solana is its classification by the SEC. Unlike Bitcoin and Ethereum, Solana has been named as a security in previous SEC legal actions against major exchanges. This classification could impede ETF approval unless clarified or changed.
Market Surveillance and Manipulation Concerns:
The SEC has concerns about market manipulation and the need for robust market surveillance mechanisms. For a Solana ETF, this means demonstrating sufficient liquidity and trading infrastructure, akin to what was required for Bitcoin and Ethereum ETFs.
Lack of Regulated Futures Market:
Solana does not currently have a regulated futures market in the U.S., which has been a prerequisite for previous crypto ETF approvals. The absence of such a market complicates the approval process.
Political and Regulatory Climate:
Changes in U.S. administration, particularly with a pro-crypto stance, could influence the SEC’s decisions regarding crypto ETFs. The upcoming shift to the Trump administration has been discussed as potentially more favorable for crypto regulatory approvals.
Global Precedents and Institutional Support:
Solana ETFs have been approved in markets like Brazil and Canada, which might indicate a growing acceptance of Solana as an investment vehicle. This global trend could indirectly pressure or encourage U.S. regulators.
Ryan Lee, Chief Analyst at Bitget Research
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Today’s Bitcoin price drop – Is it a bear trap?
Bitcoin (BTC) experienced a significant decline today, falling below the $93,000 mark.
As of now, the trading price of BTC is about $92,579, a decrease of about 5.87% compared to the previous closing price.
The drop came just days after Bitcoin approached the $100,000 mark and hit a new all-time high of $99,547.
After the recent rapid rise, the market may be correcting, and investors’ profit-taking behavior may also be one of the reasons for the price drop.
In addition, long leveraged positions above $3.40 billion face liquidation risks, which may further exacerbate price volatility.
Regarding whether this decline is a “bear trap” – that is, a short-term price drop induces bearish investors to enter the market, and then the price rebounds rapidly.
This decline is mainly due to the profit-taking behavior of major US institutions in the face of the upcoming holiday.
In addition, the market has not broken through the 100,000 dollar integer psychological barrier after digesting the 5.40 billion dollar purchase volume of MicroStrategy, which will also become a short-term rest and adjustment signal for the market.
However, such an adjustment does not affect the overall bull market of Bitcoin, so such a decline will become a bear trap.
Ryan Lee, Chief Analyst at Bitget Research
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Pump.fun faces serious backlash over livestream feature
The memecoin platform is now facing some serious heat over its livestream feature.
Bitcoin is dipping, but alts got some confident supporters
Data from Santiment reveals that cryptocurrencies like Sand, XLM, and Ether are stealing the spotlight in recent discussions. What Bitcoin dip?
