[ad_1] Solana is in red for now, but the coin is one of the top performers. In the last year of trading, SOL, the native currency of the Solana ecosystem, rose by over 15X, quickly moving up the crypto ranking to fifth, flipping XRP, Cardano, and even top meme coins like Dogecoin. GSOL Trading At A 650% Premium There could be more for SOL in the coming few weeks. Data shows that the Grayscale Solana Trust (GSOL) is trading at a 650% Net Asset Value (NAV) premium. According to Jamie Coutts, the Chief Crypto Analyst at Real Vision, the spike…
Author: dfrancis36
[ad_1] Bitcoin’s price has fallen below the critical support level of $60,000, reaching a low of $57,914. Since Tuesday, Bitcoin has experienced a further 7% decline, reinforcing the ongoing downward trend. Currently, market sentiment is shifting markedly towards the bearish side. Is A May 2021-Style Bitcoin Crash Looming? Andrew Kang, co-founder of Mechanism Capital, has raised significant concerns regarding the pattern emerging in the Bitcoin market, reminiscent of the conditions that led to the dramatic crash of May 2021. In a detailed analysis shared via X (formerly Twitter), Kang highlighted the overlooked criticality of the current market dynamics. Kang stated,…
[ad_1] Hong Kong’s financial regulators are taking a measured approach to cryptocurrency regulations, responding with a constant change to market developments. Christopher Hui, the Treasury chief, recently emphasized the government’s strategy of continuously monitoring and adapting crypto-related rules to match the evolving industry. This comes amidst concerns about whether regulatory frameworks could suppress innovation or fail to protect investors adequately. Evolving Policies and Market Responses The regulatory landscape for cryptocurrencies in Hong Kong is under scrutiny as officials reassess their stance on digital asset management. Christopher Hui’s recent statements shed light on the government’s intent to adjust regulations “as appropriate,”…
[ad_1] In a turbulent 24-hour trading session, the cryptocurrency market saw nearly $200 million wiped out in liquidations as Bitcoin price dropped below $61,000. This sharp decline triggered a wave of liquidations, affecting many investors and traders. Market Meltdown And Crypto Liquidation The total market valuation has plunged by approximately 2.7% to around $2.34 trillion, underscoring heightened volatility and market stress. Related Reading Bitcoin, leading the downturn, shed 1.3% over the week, with a steep 2.8% drop recorded in the last day. This downturn has not only decreased the value of many investors’ portfolios but has also led to substantial…
[ad_1] A US Judge has rejected DraftKings’ motion to dismiss the class action lawsuit filed by the company’s Non-Fungible Token (NFT) buyers. The lawsuit accuses DraftKings, its CEO, CFO, and president of allegedly violating federal securities laws with its NFTs. DraftKings Accused Of Selling Unregistered Securities On March 2023, Justin Dufoe filed a putative class action against sports betting and fantasy sports company DraftKings. In the complaint, the Plaintiff asserts that the company’s non-fungible tokens should be considered “investment contracts” under the Howey Test. DraftKings launched the ‘DraftKings Marketplace’ in 2021 using the Polygon Blockchain. The marketplace offered “digital collectibles…
[ad_1] HashKey Group’s airdrop campaign has kicked off. The company will distribute millions of its platform token HSK. HSK is based on the ERC-20 standard. HashKey Group announced Tuesday the launch of a community airdrop for its platform token, HSK. Based on the ERC-20 standard, the HSK token is designed to offer holders various benefits, including transaction fee discounts, community rewards, cross-platform ecosystem collaboration, exclusive token pre-sale rights, and business growth activities on HashKey Global. HashKey said last month that HSK will have a total supply of 1 billion tokens, with 65% allocated for ecosystem growth, 30% to the project’s…
[ad_1] Solana started a fresh decline from the $155 resistance. SOL price is down over 10%, but the bulls are now protecting the $132 support. SOL price started a strong decline from the $155 resistance against the US Dollar. The price is now trading below $145 and the 100-hourly simple moving average. There was a break below a connecting bullish trend line with support at $150 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could correct losses unless the bulls struggle to protect the $132 support. Solana Price Dives 10% Solana price struggled to…
[ad_1] The Basel Committee on Banking Supervision has confirmed the approval of a final disclosure framework, which includes a standardised set of tables and templates for banks to report their crypto asset exposure, the organisation announced yesterday (Wednesday).A Proper Disclosure FrameworkThe decision was finalised as the organisation met virtually on 2 and 3 July to discuss various policy and supervisory incentives. The framework will be published later this month and will be effective from 1 January 2026.At its July meeting, the #BaselCommittee approved a disclosure framework for banks’ cryptoasset exposures and agreed to make targeted amendments to its cryptoasset standard…
[ad_1] The world of cryptocurrency took another blow this week as Bittensor, a prominent AI-focused project, was forced to halt its network after a series of wallet hacks. Investigators suspect a private key leak may be to blame, raising concerns about the security of the entire crypto ecosystem. On July 3rd, Bittensor co-founder Ala Shaabana announced a network shutdown via a social media post. This drastic measure came after attackers siphoned off at least $8 million worth of TAO, Bittensor’s native token. The incident follows a similar theft just a month prior, where another wallet hemorrhage resulted in a loss…
[ad_1] Spot Bitcoin ETFs boosted the industry’s mainstream credibility. The market appears to be pessimistic about Solana ETFs at this time. Short-term price movements cannot be used to gauge ETF approval. The approval of U.S. spot Bitcoin ETFs in January 2024 marked a watershed moment for the crypto industry. Bitcoin surged to a new all-time high within two months of the ETFs going live, with unprecedented net inflows demonstrating pent-up demand and solidifying BTC’s status as a legitimate investment asset. The success of Bitcoin ETFs paved the way for altcoin ETF applications, with Ethereum products next in line for potential…