Monthly archives: June 2024

The recent developments surrounding Ethereum and Solana Exchange-Traded Funds (ETFs) have raised significant concerns about their potential impact on these proof-of-stake (PoS) networks. The removal of staking provisions from ETF applications to appease regulatory requirements creates a paradoxical situation that could potentially harm the very networks these investment vehicles aim to represent. At the core …

Continue reading “If spot ETFs for proof-of-stake chains launch without staking we could go backwards”

Onchain Highlights DEFINITION: Skew is the relative richness of put vs call options, expressed in terms of Implied Volatility (IV). For options with a specific expiry, 25 Delta Skew refers to puts with a delta of -25% and calls with a delta of 25% to demonstrate this difference in the market’s perception of implied volatility. …

Continue reading “Bitcoin’s options 25 delta skew signals ongoing market anxiety near $60,000”

State Street Global Advisors, a subsidiary of the third-largest ETF issuer State Street, has joined the growing trend of traditional financial institutions exploring crypto ETFs. In a June 26 statement, the firm said it was teaming up with crypto investment firm Galaxy Digital to introduce new crypto ETFs extending beyond the flagship digital asset, Bitcoin. …

Continue reading “State Street and Galaxy Digital launch crypto ETFs aimed beyond Bitcoin”

VanEck has filed plans with the US Securities and Exchange Commission to create a spot Solana exchange-traded fund (ETF). If approved, the VanEck Solana Trust will reflect the performance of the price of the blockchain network’s native SOL token. However, the filing stated that the Trust has no plans to stake the SOL tokens for …

Continue reading “VanEck files for spot Solana ETF but will it gain approval?”

Stablecoin payment platform BVNK has introduced Layer1, a self-custody digital asset infrastructure, according to a June 27 statement shared with CryptoSlate. This platform helps businesses launch stablecoin payments quickly and securely, ensuring control and privacy over their digital assets. Layer1 BVNK aims to streamline blockchain payments through its Layer1 solution. This initiative tackles infrastructure challenges, …

Continue reading “BVNK launches Layer1 to simplify stablecoin payments for businesses”

Quick Take Glassnode data shows that the Bitcoin network’s hash rate has plummeted to 555 EH/s, marking a significant 16.5% decline or a 100 EH/s drop from its all-time high on a seven-day moving average. On a 30-day moving average, this is the steepest decline in hash rate since the Chinese mining ban in the …

Continue reading “Luxor COO forecasts further hash rate decline amid rising summer power rates”

Coinbase has taken a bold step in its ongoing struggle with financial regulators. As Fox Business reported, the company has filed lawsuits against both the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) in a Washington, DC district court, seeking access to internal documents related to crypto regulation. According to Fox …

Continue reading “Coinbase sues SEC in ‘reverse UNO’ move on crypto transparency – reports”

Despite a brief dip below $60,000 on June 23, bitcoin has demonstrated formidable resilience by closing above this pivotal level for 118 days in 2024. According to QCP Capital, the cryptocurrency continues to hold strong against various market pressures, including substantial governmental sell-offs. QCP Capital Foresees Bitcoin Holding $60K Line, Despite Recent Market Pressures In …

Continue reading “Steady Above $60K: Bitcoin Weathers Government Sell-Offs, Says QCP Capital”

Following Vaneck’s application with the U.S. Securities and Exchange Commission (SEC) to launch a solana-based exchange-traded fund (ETF), solana has appreciated 8.1% against the U.S. dollar. Apart from bitcoin, ethereum, and stablecoins, solana now boasts the highest daily trade volume among all other crypto assets on market aggregation platforms. Vaneck’s ETF Filing Catalyzes Increase in …

Continue reading “Solana Climbs 8.1% Following Vaneck’s SEC Filing for SOL-Based ETF”

Pepe-themed meme coin Smidge is exploding today with its price up over 150% in the last 24 hours. Meanwhile, a Pepe-focused layer 2 cryptocurrency, Pepe Unchained, is turning heads after raising almost $1M through the first week of its presale. Let’s dive into these two meme coins and see what’s behind their rapid rises. Smidge …

Continue reading “Pepe-Inspired Smidge Token Pumps Over 150% in 24 Hours – Could Pepe Unchained Explode Next?”

U.S. spot bitcoin exchange-traded funds witnessed a second day of inflows as they captured $21.52 million on Thursday. The leader in terms of gains was Fidelity’s FBTC led the pack with a $19 million increase. Modest Inflows for Bitcoin ETFs on Thursday With Fidelity’s FBTC Leading the Pack The 11 spot bitcoin ETFs had a …

Continue reading “US Bitcoin ETF Inflows Reach $21.52M as FBTC and GBTC Lead Gains”