SEC Approval for Solana ETF Will Happen in 2025 – VanEck

Since Donald Trump’s election, the clamour for Solana exchange-traded fund (ETF) approval in the United States has gained traction. According to Mathew Sigel, VanEck’s head of digital asset research, the industry expects the US Securities and Exchange Commission (SEC) to greenlight more crypto-based products before the end of next year.

A New Era for Crypto ETFs

The result of the 2024 US presidential election has rekindled hope in the digital asset space, especially the authorization of crypto-backed ETFs. Accordingly, industry insiders predict that Trump’s election would result in a friendlier regulatory environment for digital assets, which might open the door for the approval of several crypto ETFs that have been waiting for regulatory approval for a long time.

Several asset managers submitted applications to list ETFs for altcoins such as Solana (SOL), Ripple (XRP), and Litecoin (LTC), reflecting heightened interest in diversifying the crypto investment market. These filings also included proposals for crypto index exchange-traded funds (ETFs), which aim to expose investors to a wide range of tokens.

However, the current SEC administration has yet to approve any of them. Instead, it has launched over 100 enforcement proceedings against the sector. As the SEC begins reviewing Grayscale’s request to launch an ETF encompassing diverse cryptocurrencies, observers believe the stage is set for significant changes in the crypto landscape.

Potential Leadership Changes

The prospect of new leadership at vital regulatory agencies has further reinforced industry optimism. According to reports, Trump is considering appointing Republican CFTC commissioner Summer Mersinger as the new SEC chair.

The CFTC chair has a reputation for supporting a more accommodative approach to cryptocurrencies, as the chair of the Commodity Futures Trading Commission (CFTC). The CFTC is also a top regulator of the cryptocurrency markets in the United States, similar to the SEC. However, it has less authority than the US SEC.

A change in leadership may impact how crypto regulation develops, allowing the operations of other crypto ETFs in addition to Bitcoin and Ethereum ETFs.

Solana Dominates the NFT Market

As the regulatory environment changes, Solana has become a significant player in the non-fungible token (NFT) market. On-chain data shows that the market cap of Solana’s NFT ecosystem soared by $1 billion to $5.94 billion in the last week.

With almost 55% of the market, Solana has surpassed rivals like Polygon and Ethereum regarding daily NFT user engagement. Moreover, Solana has 18,000 daily users, establishing itself as a dominant force in the NFT market, unlike Polygon’s 5,100 and Ethereum’s 3,500.

Furthermore, this ecosystem’s rise has been fuelled by top-performing NFT collections like Mad Lads and SMB Gen 2, while newcomers like Luces have quickly garnered popularity. In addition, data from the NFT analytics platform Cryptoslam shows an 11% increase in total transactions and an 85% increase in NFT sales volume on Solana.

SOL Token Faces Market Fluctuations

Solana’s native coin, SOL, has shown volatility despite its success in the NFT space. Following early gains, SOL’s value dropped 4% daily, indicative of the market’s overall mood.

Even though these swings are expected in the cryptocurrency industry, Solana’s sustained leading position in the NFT market offers a solid basis for SOL’s price uptrend in the near term.

Surge in Malicious Activities on the Solana Network

Nevertheless, the Solana network faces rising threats of phishing scams, with the Backpack Wallet being the prime target. The wallet became the focus of attention after more than 71,000 illegal acts were discovered on the Solana network between June and September 2024.

This number indicates that attackers have exploited over 5% of these wallet owners, losing almost $26.6 million worth of digital assets. In addition, this data highlights a broader pattern of vulnerabilities in the Solana ecosystem’s decentralized finance (DeFi) and NFTs, where phishing scams and harmful decentralized applications (dApps) continue to target users.

Moreover, the rapid rise in meme coin trade on the Solana network has made malicious actors target users of this network more than those on other networks. Furthermore, the focus on Solana rather than established networks such as Ethereum demonstrates a deliberate shift by hackers looking to exploit user and platform security vulnerabilities.

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Bitcoin ETFs Inflow End with $400M Outflows: What to Know

Spot Bitcoin ETFs in the United States experienced their first net outflow since Donald Trump’s election as president, marking the end of an inflow streak that began on Nov. 5. According to data from Farside Investors, 11 Bitcoin ETFs collectively posted a $400.7 million outflow on Nov. 14, coinciding with a 2% drop in Bitcoin’s price to $88,200.

Significant Outflows Across Top Bitcoin ETFs

The largest outflow was from Fidelity’s Bitcoin ETF, which recorded $179.2 million in withdrawals. The ARK and 21Shares joint ETF followed with $161.7 million, while Bitwise’s ETF saw $113.9 million in outflows.

Grayscale’s Bitcoin Trust and its mini version reported combined outflows of $74.9 million. Despite the broader decline, BlackRock’s iShares Bitcoin Trust ETF stood out, attracting $126.5 million in net inflows.

Also, VanEck’s Bitcoin ETF posted $2.5 million in inflow. Notably, the crypto market’s performance mirrored political events. Bitcoin rallied nearly 30% from $68,000 to $93,500 between Nov. 5 and Nov. 13, spurred by what crypto market players term “Trump trade.”

The surge came amid optimism surrounding pro-crypto policies and promises to stimulate the economy.

Rally Ends After Record Inflows

These outflows mark a significant shift in market sentiment following sustained inflows during Bitcoin ETFs’ historic growth phase. Previously, Bitcoin ETFs recorded their highest-ever daily inflow of $1.37 billion on Nov. 7.

The last notable outflow from Bitcoin ETFs occurred on election day, Nov. 5, amid market uncertainty surrounding the presidential race. However, once Trump’s victory was confirmed, inflows surged as investors anticipated economic growth and regulatory clarity.

Like Bitcoin ETFs, like Ether ETFs

Like Bitcoin ETFs, spot Ether ETFs also saw outflows for the first time since Trump’s win. A total of $3.2 million exited Ether ETFs on Nov. 14, with Ether’s (ETH) price dropping nearly 5% to trade below $3,100.

Grayscale’s Ethereum Trust ETF led with $21.9 million in outflows. Conversely, BlackRock’s iShares Ethereum Trust attracted $18.9 million in inflows, and Invesco’s Ether ETF saw a $900,000 inflow.

Bitcoin Price Will Not Dip to $60,000 – Saylor

Meanwhile, MicroStrategy founder and Bitcoin advocate Michael Saylor remains optimistic about Bitcoin’s trajectory, asserting that it will not dip to $60,000 as speculated by some analysts. In a recent interview, Saylor said, “I don’t think it is going to $60,000, it is not going to $30,000; I think it is going to go up from here.” 

Saylor expressed no concerns about near-term threats to Bitcoin’s upward movement. He added that Donald Trump’s re-election solidified the regulatory outlook for cryptocurrency in the United States. 

Saylor also revealed plans for a celebration when Bitcoin hits $100,000, suggesting the milestone could occur as early as December. Other market observers echo Saylor’s optimism.

Keith Alan, co-founder of Material Indicators, suggested Bitcoin could reach $100,000 as soon as Nov. 28, coinciding with the Thanksgiving holiday in the United States. 

Mixed Opinions on BTC’s Price Action

However, CryptoQuant CEO Ki Young Ju cautioned that Bitcoin could end the year below $59,000, citing concerns over an overheated futures market. Pseudonymous trader Ash Crypto predicted more liquidations but maintained that Bitcoin would continue setting new highs. 

Saylor also commented on the regulatory changes under the Trump administration. He said that pro-crypto policies could create a “digital assets framework” and end what he described as the “war on crypto.” 

US’ Bitcoin Reserve Strategy

During the Cantor Crypto, Digital Assets & AI Infrastructure Conference, Saylor expressed his support for the proposed US Bitcoin Reserve Bill, calling it the “greatest deal of the 21st century.” The bill aims to accumulate 1 million BTCs, or 5% of the total supply, for the United States over five years. 

The MicroStrategy founder claimed that the legislation could generate up to $30 trillion in economic benefits over 21 years if enacted. Despite Saylor’s enthusiasm, Galaxy Digital founder Mike Novogratz argued there’s a “low probability” that President-elect Trump would implement a Bitcoin strategic reserve.

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Solana Price Retests $220, Eyes All-Time High

The Solana ecosystem is seeing increased activities as the price of SOL retested the $220 level for the first time since 2021. Hence, it’s likely that its native token SOL is about to enter a bullish phase coinciding with the broader market uptrend.

Solana Price Surge and Robinhood Relisting

SOL saw a significant price spike on November 13 and returned to the $200 range. As a result of this upswing, SOL’s price temporarily peaked at $220. Robinhood’s decision to relist SOL on its trading platform boosted market confidence, coinciding with the price rise.

The relisting on Robinhood coincided nicely with the bullish technical signals for SOL. One such signal was the appearance of a “bull flag” formation on the weekly chart.

This pattern usually indicates that a price spike is imminent. According to analysts, if Solana can sustain its current levels, it could experience additional upward momentum, setting it up to rise above its all-time high of $260.

Technical Analysis Hints at Bullish Momentum

Moreover, the Bull Bear Power (BBP) measure suggests a bullish run for SOL. The BBP showed that buyers maintain the cryptocurrency’s price above the 13-period Exponential Moving Average (EMA), indicating strong market sentiment.

The Parabolic Stop and Reverse (SAR) signal supports this positive outlook. The SAR, frequently used to determine the direction of trends and possible reversals, has kept its dots below Solana’s price level.

Given that the SAR usually only indicates a trend reversal when the dots go above the price, its current stance implies that SOL’s price may continue upward. Historical trends further support this bullish trend.

SOL has a history of generating double-digit growth after similar SAR indications. If history repeats and the other signals hold, Solana may hit $260 shortly.

Record-Breaking Trading Volumes

Aside from price trends, Solana’s decentralized exchange (DEX) ecosystem has also shown impressive growth. According to data from DeFiLlama, Solana DEXs have had record-breaking trade volumes in recent days.

Trading volumes started to exceed $5 billion per day on November 11 and reached $7.03 billion by November 13. This spike in volume highlights Solana’s growing popularity in the DeFi market, where it has led other blockchains in DEX trading activity for three weeks in a row.

Raydium and Orca are the leading performers in this ecosystem. Raydium accounts for 62.47% of Solana’s entire DEX trading volume.

It had $4.32 billion in daily trades and a trading volume of $19.56 billion last week, representing a 127% increase. Orca has a 24-hour trading volume of $1.57 billion and a seven-day total of $6.42 billion.

Solana Outpaces Ethereum in DEX Trading Volumes

One of the most remarkable aspects of Solana’s recent achievements is its consistent outperformance of Ethereum in DEX trading volumes. Artemis.xyz data shows that Solana’s DEX activity has outpaced Ethereum’s for four days.

As Ethereum’s volumes declined, the volume difference, which was $0.2 billion on November 1, gradually grew. By November 9, Solana’s DEX trading volume was nearly $4.6 billion, while Ethereum’s was only $2.4 billion.

Then, on November 13, the Ethereum rival’s DEX trade volume reached $6.9 billion, more than doubling Ethereum’s $3.4 billion, setting a new high in volume difference. This supremacy shows Solana’s competitive advantage in transaction speed and scalability.

Even though Ethereum has been around for a while, it has had problems with expensive fees and poor transaction times, which Solana doesn’t. Accordingly, this Ethereum rival attracts traders and investors looking for quick and inexpensive transactions, strengthening its position as the industry leader.

Solana’s Future Outlook

Given its recent price spike, breakout technical signs, and growing DeFi footprint, SOL is in a solid position to continue its upward trajectory. If it succeeds, this network could maintain its position as a significant force in the cryptocurrency and DeFi markets, making it the adequate substitute for more established blockchain choices like Ethereum.

Meanwhile, Ethereum and other altcoins have seen a spike in market capitalization, coinciding with Bitcoin’s all-time high.

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Ethereum ETFs Hit Record $295M Inflow as Market Rallies

Historic Inflows Mark Growing Interest in Ethereum ETFs

Ethereum ETFs in the United States recorded a historic $294.9 million in inflows on Nov. 11, marking their largest single-day inflow since their July launch. This surge highlights the growing interest in Ethereum ETFs as the crypto markets’ rally continues post-election.

Fidelity’s spot Ethereum ETF led the inflows, securing $115.5 million, the highest on that day. In addition, BlackRock’s iShares Ethereum Trust ETF captured $100.5 million, while Grayscale’s Ethereum Mini Trust ETF reported $63.3 million.

The Bitwise Ethereum ETF recorded a smaller, yet notable, $15.6 million inflow. This influx of capital into these funds reflects an increasing appetite among investors looking for exposure to Ethereum without directly holding cryptocurrency.

With spot Ethereum ETFs, traditional investors can tap into Ethereum’s performance, avoiding the complexities of crypto wallets and direct asset ownership. These funds, launched in July, initially garnered $106.6 million on their first day, but this November record signifies an accelerated momentum for Ethereum ETFs.

Post-Election Rally and Increasing Demand for Ethereum ETFs

Donald Trump’s recent election win has contributed to this surge, as market participants anticipate a pro-crypto administration supportive of blockchain adoption. According to CK Zheng, founder at ZX Squared Capital, Ethereum ETFs could benefit from this environment.

He added that a pro-blockchain stance could drive further investments in Ethereum ETFs.

Ethereum Gains Traction Amid Broader Market Surge

Meanwhile, according to CoinGecko, Ether’s price reached a 14-week high of $3,384 on the same day. This price surge aligned with a broader crypto market uptick, as Bitcoin and Solana also experienced notable gains.

While Ethereum staking returns aren’t accessible through US Ethereum ETFs, analysts like Rachael Lucas from BTC Markets expect staking to become a stronger consideration for traditional investors, further enhancing Ethereum’s appeal. The interest in Ethereum ETFs could mark a shift in the investment landscape as more institutional players warm up to ETH’s potential in the coming months.

Since their launch, these Ethereum ETFs have accumulated nearly $3.1 billion in inflows. BlackRock’s Ethereum ETF remains the top performer among them, with inflows surpassing $1.5 billion since July.

Notably, the Grayscale Ethereum Trust ETF (ETHE), launched earlier, has experienced outflows totaling around $3.13 billion.

Ethereum Weekly Transactions Surge to $60B

Moreover, Ethereum’s weekly transaction volume has surged to $60 billion, reflecting heightened network activity. The mainnet has processed a record number of transactions over the past week, its highest weekly volume since July.

Ethereum’s popularity appears to be rising, even as its price fluctuates below its peak levels. Data from IntoTheBlock indicates that this volume had gradually recovered from its mid-2022 lows when activity initially slowed amid market-wide bearish conditions.

The surge in weekly transaction volume suggests growing demand, even as the ETH price experiences minor fluctuations. This aligns with historical trends in which Ethereum’s transaction volume and price have typically moved in parallel, reflecting high market interest during bull runs and downturns.

Key On-Chain Metrics

According to DefiLlama, Ethereum’s Total Value Locked (TVL) across DeFi applications now stands at $59.327 billion. Stablecoins hosted on the Ethereum network have a combined market cap of $89.517 billion, underscoring Ethereum’s role in the broader DeFi ecosystem.

Over the past 24 hours, ETH has processed $2.387 billion in transactions and recorded $72.74 million in inflows, illustrating the network’s substantial daily throughput. Active user participation also remains strong, with 391,248 active addresses and 64,793 new addresses created in the past day.

Furthermore, high-value transfers (transactions exceeding $100,000) accounted for $51 billion in weekly activity, which suggests substantial engagement from large investors and institutions.

Holder Insights and Market Trends

Additionally, large holders control 53% of Ethereum’s total supply, pointing to a high concentration of wealth among top investors. This distribution signals strong confidence in Ether’s future.

Another indicator of Ethereum’s broader market alignment is its correlation with Bitcoin, currently at 0.84. This close relationship with Bitcoin shows that Ether’s price movements often mirror the overall crypto market, providing insights into its volatility and momentum.

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How the Bitcoin Mempool Works: A Beginner’s Guide

The Bitcoin mempool stores and ranks unverified transactions according to fees, enabling miners to select the most profitable ones. Understanding its operation enables you to maximize your payments and prevent delays, guaranteeing more seamless and reasonably priced transactions on the Bitcoin network.

Here is a guide on what it is and how it works.

The Bitcoin Mempool Definition

An acronym for “memory pool,” “mempool” refers to unverified storage for Bitcoin transactions. When you send Bitcoin, it does not immediately appear on the blockchain until a miner puts it into a block.

Before the miner’s action, your transaction resides in the mempool of the Bitcoin nodes. Since every node has a mempool, the entire network has several and not only one.

How Does the Bitcoin Mempool Function?

Once you initiate a Bitcoin transaction by signing and broadcasting it, it is shared over the network with the other nodes. As long as the transaction fulfills the required conditions, each node appends it to its respective mempool.

A mempool works like a waiting area where transactions remain until miners choose them and embed them in a block. The steps below indicate how the transaction procedures are carried out.

• Transaction broadcast: Signing and broadcasting a transaction results in its transmission across the network’s nodes.

• Confirmation: Nodes ensure the transaction is accurate and valid. This entails authenticating the signatures, confirming that the inputs were utilized, and determining whether enough fees were paid.

• Mempool Deposit: As long as the transaction is appropriate, the node will store it in the mempool until a miner can implement it.

• The Miner’s Selection: Seeing more than one transaction in the mempool is possible, and miners choose the most expensive transactions first. Miners’ fees for confirming a transaction depend on the number of transactions they’ve already confirmed.

• Confirmation of a Transaction: After a miner includes a transaction in a new block, it’s considered confirmed, and all mempools erase it.

Why It Matters

The mempool helps the network be efficient and secure. The mempool

• Allows miners to confirm more urgent transactions.
• Captures transactions temporarily and helps prevent network congestion.
• Eliminates concerns like double-spending since only valid transactions exist, having been validated by nodes.

The Impact of Transaction Fees

Fees play a big role in the time for a transaction to be confirmed on the network. A miner will not be motivated to process your transaction if your fee is too low.

Instead, they would wait for optimal conditions. An optimal condition is when there is an abundance of fees in the mempool, and miners select. Suppose Bitcoin’s mempool (usually between 300 MB and a higher limit) has exceeded its maximum limit. In that case, nodes will begin discarding the transactions with the lowest fees to enable the addition of further transactions.

Monitoring Transactions and Handling Congestion

With monitoring tools, you can assess the number of transactions pending in the queue and the average associated cost for every transaction. This can help you determine the fee you must include to confirm your transaction and complete it on time.

Bitcoin Mempool congestion occurs when the volume of transactions exceeds the mempool space in the network. In times of congestion, users can increase the transaction fee to prioritize their transactions.

When you observe congestion in the mempool, you can:

• Raise Your Fee: Paying a higher transaction fee will place your request at the top of the list.

• Use SegWit Addresses: Take advantage of SegWit to lower the cost of transactions since it decreases the transaction’s data size. Thus enabling a faster confirmation of your transaction.

Conclusion

The Bitcoin mempool is important for efficient processing and smooth network running. It also ensures that miners obtain as much reward as possible through fees.

Knowing the workings of the mempool, its relation to fees, and how it impacts your transactions will make it possible for you to use Bitcoin with fewer technical hitches and lower waiting times.

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Ethereum Foundation Allocates $500M to Ecosystem Growth

Ethereum Foundation Deploys $500M to Projects

The Ethereum Foundation disclosed that it deployed nearly $500 million to ecosystem projects between 2022 and 2023. According to its 2024 annual report, $497 million was allocated to support various projects, with the Foundation contributing $240.3 million, equating to 48.3% of the total funding.

Funding came not only from the Ethereum Foundation but also from MakerDAO (now rebranded as Sky), Gitcoin, Optimism, Aragon, Decentraland, Uniswap, MetaMask DAO, Starknet, Protocol Guild and other Ethereum-built ecosystems. This collective effort highlights significant support within the Ethereum community.

$22.2 Billion in Ecosystem Treasury

In addition to deployed funds, the Ethereum Foundation noted that the ecosystem is backed by over $22 billion in Treasury resources. These resources include assets held by various organizations, foundations, and decentralized autonomous organizations (DAOs).

Nevertheless, the Ethereum Foundation retains $970 million in its Treasury. The report clarified that these Treasury funds consist of liquid and vested assets.

The report explained that liquidating a significant portion of a project’s Treasury could drastically affect the token’s market value. Despite this challenge, the Foundation pointed out that these treasuries have a “depth of reserves,” and deploying a fraction would sufficiently support and expand the ecosystem for years.

Ethereum Foundation Incorporates New Conflict of Interest Policy

The Ethereum Foundation also highlighted introducing a conflict-of-interest policy to enhance transparency and maintain integrity. This policy requires Ethereum Foundation members’ disclosure for non-Ether investments exceeding $500,000.

The aim is to prevent any conflicts from influencing decision-making processes. If an investment poses a conflict, members involved will be excluded from related decisions.

Executive Director Aya Miyaguchi noted on X that this measure is intended to “strengthen the integrity” of the Foundation and uphold trust within the ecosystem.

Ethereum Eyes $3200 as ETF Inflows Rise

Meanwhile, the price of Ethereum (ETH) is poised for a breakout above $3,200, fueled by a surge in ETF inflows after Donald Trump’s re-election. Trump’s victory has significantly boosted crypto market sentiment, with analysts predicting strong performance for Bitcoin (BTC) and Ethereum.

On Nov. 6, Trump was declared the presidential election winner, leading to a noticeable shift in crypto market dynamics. Data from Farside Investors indicated that spot Ether ETFs saw net positive inflows of $52.3 million on the day of the election announcement, followed by $79.7 million on Nov. 7.

This influx marks renewed investor interest in Ethereum, causing an uptrend in its value. Notably, these funds have seen a combined $422.63 million outflow since inception, with the trading volume at $446.40 million.

A Potential Ethereum Breakout?

Bitfinex analysts noted that the increased buying pressure and ETF inflows will help Ethereum break its current trading range. Based on BTC’s market cap dominance, analysts anticipate ETH’s price to exceed $3,200 in the near term.

Open interest in Ethereum has also risen, signaling higher volatility. Analysts highlighted that this metric reached $1.3 million, a significant increase from $800k in August.

Current data showed that a substantial portion of this open interest is in short positions.

Staked ETH ETFs Could Drive Future ETH Price Growth

Trump’s re-election is expected to usher in crypto-friendly regulations in the US, which could lead to accelerated approval of staked Ether ETFs. Edward Wilson, an analyst at Nansen, pointed out that such a regulatory environment will speed up the approval process for staked ETH ETFs, enhancing Ethereum’s attractiveness to retail and institutional investors.

If a staked Ethereum ETF gains approval during the incoming administration, it could add significant momentum to Ethereum’s price, possibly pushing it beyond its previous all-time high of $4,800, set in November 2021.

Meanwhile, Bitget Research’s chief analyst Ryan Lee stated that Bitcoin is expected to reach $100,000 before 2024 ends, which would benefit Ether and other top assets. In February, BTC ETFs accounted for 75% of new investments when Bitcoin’s price surpassed $50,000, illustrating the strong influence of ETF inflows on the coin’s performance.

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Trump’s Win: Solana Memecoin Market Surges to $12B

Donald Trump’s presidential election win has sparked numerous spikes in the prices of some cryptocurrencies, with the Solana memecoin market reaching a market capitalization of $12 billion.

The Solana Memecoin Market Surge and Trump’s Win

Solana-based memecoins have seen a significant uptick in gains in the last day, with Peanut the Squirrel, GOAT, and POPCAT at the forefront. This spike highlights Solana’s role in the cryptocurrency ecosystem when political unpredictability has increased in the wake of the 2024 US presidential election results.

Memecoins are attracting the attention of retail investors looking for quick profits as the cryptocurrency environment becomes more entwined with politics. Investor mood has closely followed market trends recently, especially for highly volatile assets like memecoins.

Solana’s rise to the fourth-largest cryptocurrency position, election-related speculation, and the influence of prominent individuals have contributed to a surge in trade volumes for these coins. Moreover, Solana’s market cap has surpassed Binance Coin (BNB) for the first time, a significant milestone for the token.

Political Climate Boosts Memecoin Market

Earlier this week, SOL noted a 17% increase in value, reaching $188 and hitting $85 billion in market cap. Following this spike, Solana became the fourth leading cryptocurrency, behind only Tether USDT, Ethereum (ETH), and Bitcoin (BTC).

Some market analysts link these memecoin rallies to speculation about Trump’s possible regulatory changes in cryptocurrency. Moreover, Trump’s campaign remarks alluded to potential changes in policy that would benefit the cryptocurrency market, including altcoins like Solana.

Anticipation of Solana ETFs

Meanwhile, institutional and individual investors are interested in a Solana exchange-traded fund (ETF). An ETF could attract a sizable amount of institutional funding, increasing Solana’s market capitalization and liquidity.

Regulatory approval is still a significant obstacle, though. A Solana ETF approval under SEC Chair Gary Gensler’s direction could be challenging since the asset has no regulated futures market.

However, expectations for regulatory reform have shot up since Trump’s election triumph. VanEck, one of the first fund managers to submit a Solana ETF proposal, had already acknowledged that a shift in SEC leadership might be necessary to secure approval.

ETFs connected to cryptocurrencies like Solana may benefit from the new government’s change in regulatory heads. If this occurs, Solana’s appeal and long-term growth possibilities could increase as institutional investors view it as a mainstream investment.

Despite the positives, the path to an authorized Solana ETF remains tricky. In contrast to Ethereum, which has already received approval for ETFs, Solana continues to suffer structural challenges, such as a lack of futures markets, which reduces its regulatory appeal.

High Risks, High Rewards

Meanwhile, the vibrant yet unpredictable nature of the network is reflected in the spike of Solana-based memecoins. The leading meme-themed tokens on this network (dogwifhat (WIF) and bonk (BONK)) continue to drive trade volume and attract risk-averse investors.

With a 13.31% increase to $2.38 in the last day, WIF has demonstrated a strong performance, suggesting possible short-term bullish momentum. Similarly, BONK has increased, rising 16.62% as it bounces back from recent lows and is currently trading at $0.0000192.

The price surge of these tokens indicates that retail traders are becoming more risk-tolerant. Although memecoins can yield substantial profits, they also have a high potential to cause fund losses.

Despite the increasing interest in these coins, price swings indicate that cautious optimism is necessary. Investors attracted to the possibility of rapid profits must exercise caution because the memecoin market is prone to abrupt reversals due to its unpredictability.

The convergence of politics and cryptocurrencies appeals to certain traders, and the Trump administration’s possible impact on the regulatory landscape heightens their level of speculative interest. According to on-chain data, the memecoin market cap has risen 11.4% in the last 24 hours, with trading volume exceeding $17 billion within this timeframe.

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Polymarket Hits $3.6 Billion in Election Bet Trading Volume

Polymarket Finalizes Presidential Election Market

Polymarket, the crypto-based prediction platform, has closed its US Presidential election bets market, with the trading volume reaching $3.6 billion. Major news networks, including The Associated Press, Fox, and NBC, confirmed Donald Trump’s victory, so the platform resolved Trump as the winner.

However, a brief dispute window remains for users to challenge the resolution, but with top sources backing the outcome, overturning it seems unlikely. Polymarket has attracted attention for its unique approach, which allows users to bet on various political and societal events through its prediction market platform.

Polymarket’s decentralized approach offers an alternative to traditional polls since financial stakes are tied to these predictions. In this election cycle, the platform saw an influx of interest as people placed bets on who would become the next president.

Stakes for Trump and Harris

Over the campaign period, Trump maintained a strong showing on Polymarket, with peak odds of 71.5%, especially after an assassination attempt in July. His primary competitor, Kamala Harris, held her highest chance of winning in August at 54%.

Before election day, traditional polls showed Harris slightly ahead by a percentage point. A last-minute poll from Iowa predicted Harris’s lead would be three points.

The final tallies for Polymarket’s election bets included $1.5 billion for Trump and $1 billion for Harris. Lesser amounts were also available for other potential candidates, including Joe Biden at $72 million, Michelle Obama at $153 million, and Robert F. Kennedy Jr. at $141 million; even Kanye West attracted $9 million in bets.

Polymarket CEO Shayne Coplan expressed satisfaction with the result, claiming it as a win for prediction markets. “Trust the markets, not the polls,” he stated on social media, adding that the Trump campaign team first learned of their victory from Polymarket’s data.

What’s Next for Polymarket?

While the market currently sees a 95% chance of Trump’s inauguration, a small percentage predicts other outcomes. With the election cycle over, Polymarket must consider ways to sustain its user engagement without high-stakes events.

Despite its popularity, Polymarket charges no fees, relying on previous Series B funding of $70 million.

Whales Earn $81M from Trump Election Bets

Crypto whales betting on Donald Trump’s victory reaped millions through the decentralized prediction market, Polymarket. The largest account, “Theo4,” earned over $20.4 million in profit, as revealed by data analytics platform Lookonchain on November 6.

Another top whale, identified as “Fredi9999,” amassed around $15.6 million in profit, while a third whale, “zxgngl,” secured over $11 million. Throughout October, ten whale accounts collectively wagered $70.6 million in USD Coin (USDC) on a Trump win.

This level of investment spiked Trump’s odds on Polymarket, driving up the “Yes” shares for his victory to over 60% by mid-October. Key transactions included Fredi9999’s October 18 purchase of $20 million in “Yes” shares, which pushed Trump’s odds above 60.2%.

This was followed by zxgngl’s $7.22 million investment on October 28, raising the odds to 66%. With the Associated Press calling the election in Trump’s favor on November 6, the whales’ strategy has paid off.

High Concentration of Trump’s Polymarket ‘Yes’ Shares

According to another political bettor, Domer, over half of Trump’s Polymarket “Yes” shares are held by just five whales. Domer noted that these accounts, including Theo4 and Fredi9999, could secure a collective payout exceeding $81 million if all conditions hold.

In contrast, ‘yes’ shares for Vice President Kamala Harris are more distributed. The five largest shareholders in her “Yes” vote control 18% of the total shares, with the highest single account holding 4.4%.

Trump’s top bettor, by comparison, owns nearly a third of all his “Yes” shares, emphasizing the concentration of bets around Trump’s outcome. Hence, Domer claimed that at least four of the top Trump bettors could belong to a single entity confident in Trump’s win.

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Understanding Cryptojacking and How to Protect Your Devices

While not all mining is moral, Bitcoin mining has become a popular method to obtain digital assets. A rising cybercrime called cryptojacking lets attackers mine cryptos from your devices without permission.

The guide will examine cryptojacking, its techniques, and how to protect your devices against these latent threats.

What is Cryptojacking?

“Cryptojacking” is a type of cybercrime in which malicious actors steal Bitcoins by hacking your computer’s computational capability through malware or other hostile programs. Unlike other kinds of cybercrime, this threat does not aim for your personal or financial data.

Instead, it uses your gadget without authorization, causing it to slow down and overheat. Since the malware operates silently in the background, users frequently are unaware that their gadgets are being mined.

Any device, from PCs and cellphones to cloud-based services, can be attacked, making it a general threat.

How does this Hack operate?

Two main ways that cryptojacking works are through browsers and malware. Both techniques seek to take over your device’s processing capability.

Malware-Based

Malware-based cryptojacking can happen through phishing emails, compromised websites, or risky downloads. After infecting your smartphone, the software secretly uses your device’s CPU to mine cryptos.

Usually, this kind of attack lasts for extended periods until an antivirus software finds and eliminates them.

Browser-Based

This approach does not require software installed on your device. It runs via a hostile script included in a website.

The software starts mining cryptocurrency with your device’s power when you visit a compromised website. The mining operation shuts down as soon as you leave the place.

It can compromise your device’s performance even if it is less dangerous than malware-based attacks.

Types of Cryptojacking Attacks

There are various ways that cryptojacking can occur, and as technology develops, fresh approaches will show up. Currently, the typical forms of attacks are:

File-based

The File-based type occurs when phishing emails or fake software updates install malware on your device. Even if the compromised website is closed, the malware stays on your device.

It keeps mining cryptocurrencies without your knowledge.

Internet of Things

Internet of Things (IoT) devices like smart home appliances are prime targets for cryptojackers since they often lack robust security mechanisms. Since they have been taken over and utilized to mine cryptocurrencies, these devices’ performance will greatly slow down.

Cloud-Based

As cloud services grow in popularity, attackers are discovering means to take advantage of flaws in cloud configurations. Having access to cloud-based systems allows them to mine cryptocurrencies using the computing capability of these platforms without permission from the owners.

How to Identify Cryptojacking?

Since cryptojacking leaves no clear signs, detecting it might be difficult. However, there are a few red indicators to check.

Performance Issues

Your gadget may suddenly run slower than usual or become unresponsive. Since mining BTCs requires resources, this hijack might cause your device’s processing capacity to run ineffectively.

Overheating Devices

Cryptojacking causes your gadget to overheat. It could be the reason your phone gets unusually warm.

Increased Battery Drain

Should your laptop’s or smartphone’s battery begin to deplete faster than usual, cryptojacking could be running in the background.

High CPU Usage

Unaccounted spikes in CPU use can also indicate cryptojacking. If your device is running at high capacity, even if you are not using demanding apps, a cryptojacker could be working.

Proven Prevention Methods

Fortunately, there are several ways you can protect your devices against cryptojacking attacks.

Install and update antivirus software. A good antivirus application will find and stop cryptojacking malware before it compromises your device. Routinely update your antivirus program to guard against the newest threats.

Always exercise caution when opening emails from unidentified senders; they may be phony. Also, steer clear of downloading attachments and clicking on dubious links.

Useful browser extensions—such as MinerBlock or No Coin—are specially designed to block crypto mining scripts. Installing these extensions can help stop browser-based cryptojacking.

Make sure your operating system, web browser, and apps are all current. Many times, hackers use flaws in out-of-date programs to spread malware, including cryptojacking.

Track your device’s CPU consumption and performance often. If you find any odd surges or slowdowns, cryptojacking is a possibility.

Ensure robust security systems are in place for cloud-based services. Detect odd activity by routinely checking your cloud resource use and applying multi-factor authentication (MFA).

Conclusion

Understanding how cryptojacking operates will help you guard your devices against being taken over. Hence, be alert, routinely update your software, and employ preventive measures, including antivirus products and browser extensions.

Though anyone can become a victim, with the correct security measures, you can protect your digital assets and devices.

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Bitcoin Dominates Crypto Investment Products: Here’s Why

Crypto investment products have seen heavy inflows in the past couple of weeks, driven by renewed institutional interest and a friendly political climate. According to a report on Digital Asset Fund Flows, Bitcoin funds accounted for most of the $920 million injected into these crypto products.

If this trend continues, October will be among the strongest months for crypto product inflows thus far and evidence of renewed confidence by investors. For the third consecutive week, Bitcoin funds dominated crypto investment products.

This suggests that individual and institutional investors consider it their favorite virtual asset. Moreover, the forthcoming US presidential election is another reason for this increased fund injection into Bitcoin products.

US Politics and Crypto Market Trends

The US has commanded the lion’s share of crypto investment flows, accounting for around $906 million of total inflows. The expectations surrounding the imminent elections have also added to this momentum.

Based on all indications, the election outcome will further influence crypto regulatory policies. Should former US President Donald Trump win, many analysts predict that there won’t be any adverse regulatory changes to the crypto industry.

With the election odds favoring him already, many crypto market participants are already in a celebratory mood.

Bitcoin’s Dominance Among Crypto Investment Products

Compared to other crypto investment products, especially Ether funds, net flows into Bitcoin products have been positive over the past few weeks. For instance, spot Bitcoin ETFs in the US have recorded a cumulative total net inflow of $22.41B since their launch.

In contrast, spot Ether ETFs in the US have a cumulative total net outflow of $505.58M since launch. This trend proves the continued investor interest in the leading cryptocurrency.

Meanwhile, short-Bitcoin products, typically used by investors to bet against the cryptocurrency, reported minor outflows of $1.3 million versus inflows of $12 million the previous week. This shift reflects the optimism over Bitcoin’s present trajectory and expectation of a higher price over the near term.

Also, Bitcoin’s price action in recent weeks has attracted many financial institutions and retail investors who have added BTC to their investment portfolios for the long term. Thus, Bitcoin’s dominance over other digital assets will continue to soar.

Crypto Investment Products and Regional Dynamics

By regional performance, the US tops inflows into crypto products, possibly due to the increasing political support for Bitcoin and other digital assets. Nevertheless, other countries have also seen notable crypto investment activities, particularly among the youths.

For instance, crypto investments in Indonesia are on the rise. According to a study by Bappebti, a regulator of commodities trading in Indonesia, over 60% of crypto investors are below the age of 30.

This stat is similar to what’s obtainable in other parts of the world — younger generations (particularly the millennials and Gen Z) are displaying greater interest in investing in digital assets over the long term. A study conducted by Bitget in 2023 revealed that roughly 46% of millennials own crypto across major economies, with the data noting that such interest keeps growing.

This strong appetite for digital assets among the young generation indicates a possible turning point in the investment landscape, where crypto assets will be prominent in most diversified investment portfolios.

Indonesia’s Crypto Ecosystem

With the establishment of the crypto market in Indonesia, so are the challenges it faces from a number of different regulatory frameworks across regions. Indonesia views crypto as a commodity.

Despite allowing its crypto market to thrive, many crypto players in Indonesia believe there are still gaps in the nation’s crypto regulatory framework. For instance, the authorities consider crypto a commodity, but the country’s primary regulator (Bappebti) has introduced a dual tax system, which includes a 0.11% value-added tax and 0.1% capital gains tax.

In the US, the regulatory environment for crypto is still uncertain. There are still ongoing discussions about frameworks that could provide more clarity to investors.

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How to Stake Ethereum (ETH): A Beginner’s Guide to Earning Rewards

Ethereum (ETH) staking allows you to earn passive income since all you have to do is lock your coins to help secure the network. Anyone who wishes to help the network and get rewards can stake with Ethereum’s proof-of-stake (PoS) blockchain.

Why Ethereum Staking?

Ethereum staking serves two primary purposes: it helps secure the network and generates incentives. Here are some of the possible rewards that can be earned.

Passive income: Staking Ethereum pays you more ETH to help validate network transactions. Its incentives provide a fantastic passive revenue source on ETH holdings of 3% annually.

Securing the Ethereum network: Staking improves the security of the Ethereum network. Ethereum gets safer and more decentralized, and the more people stake, the harder it is for hostile players to exploit the blockchain.

Basic Terminologies in Ethereum Staking

Are you looking to stake your Ether? Below are some terms you need to know about staking on this blockchain.

Proof-of-Stake (PoS): The blockchain’s design lets users called transaction validators stake or deposit Ethereum to participate in the process. The minimum ETH required to be locked and validated is 32 ETH. Thus, users can suggest new blocks and also authenticate them.

Validators: Validators are those who lock their ETHs to consummate transactions. They are responsible for securing transactions and verifying them.

Epochs: An epoch is a specific period that commences and ends with the approval and executive of transactions by validators when new blocks are suggested. An epoch on Ethereum uses up to around 32 slots of 12 seconds each, or around 6.4 minutes.

Slashing: It is the punishment enacted against validators who occasionally engage in misconduct by violating the network’s laws, either deliberately or due to system faults. Malicious behavior by a validator can result in a loss of a fraction of their staked Ethereum.

Staking Pools: These pools allow small ETH holders to contribute and jointly meet the required 32 ETH to become a validator. With the same method, they can also alleviate the costs and risks that come with individual staking, such as hardware purchase and maintenance.

7 Steps to Start Staking Ethereum

You can stake Ethereum in two ways — through the pool or solo staking. Each approach comprises the steps below.

Step 1: Prepare a Safe Wallet

You need an Ether wallet. Hardware wallets such as Ledger or Trezor are among the safest as they have the best protection mechanism to protect your holdings against malicious actors.

Step 2: Buy Ethereum (ETH)

If necessary, buy ETH from trusted brokers like Coinbase or Binance. Similarly, most hardware wallets have a provision to purchase ETH directly.

Step 3: Choose Your Staking Method

Solo staking: You will set up a node and become a validator. This is easy, but for it to work, you need knowledge of the required hardware in addition to the prerequisite 32 ETH minimum.

Staking Pool: A stake pool collects ETH from several users, thereby enabling lower stakeholders to participate and earn yields actively.

Step 4: Deposit Your ETH for Staking

After you have determined which method suits you best, deposit your ETH. For instance, if you’re using Coinbase, ensure your account is confirmed, then move ETH from your wallet to Coinbase.

Your first step is to check out the “Earn” or “Staking” tab on your platform of choice.

Step 5: Start Staking Ethereum

In the staking section of the platform you chose, input the amount of ETH you would like to stake, and the transaction in staking will be completed. The service you pick should also manage technical activities, like joining the network and launching a validator for you.

Step 6: Track Your Rewards

After you are done staking, you must follow your rewards closely. Most platforms display this information clearly in the “My Earnings” or “Rewards” section.

The terms of rewards for staking depend on the network conditions at that time. At present, if you are staking ETH, the expected return is about 3% every year.

Some validators participate with a tool called MEV-boost to increase the reward. This increase can be up to 5.69%.

Step 7: Withdraw Your Rewards or Reinvest Them

You can either reinvest your rewards to earn more over time or withdraw them so you may cash out all your earnings. Your choice depends on your goal of investing in the first place.

Risks to Consider

It is worth noting that staking has its downsides.

Punitive Measures: Validators must follow all the network rules. Otherwise, they risk having their ETH balance decreased. A simple and effective way to avoid such risks is by thoroughly abiding by the recommendations for monitoring your node.

Token Locking: Staked tokens are usually subject to a lockup period, which impedes portability until the time is up.

Conclusion

Investing in Ethereum through staking provides an opportunity to generate passive income. At the same time, it helps maintain the security of the network.

You will still experience benefits and drawbacks, whether you choose to do it yourself or via a pool. Staking your ETH will be a smart choice if you are a long-term holder hoping to get additional ETH.

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Cardano Taps $1.3 Trillion in Bitcoin Liquidity: What to Know

Cardano plans to integrate BitcoinOS, a Bitcoin-based smart contract platform, to enhance its decentralized finance ecosystem and better cross-chain functionality. Accordingly, Cardano will tap into the $1.3 trillion in liquidity held on Bitcoin.

By using zero-knowledge cryptography, the network claims it can give DeFi users secure and decentralized access to Bitcoin liquidity, free of intermediaries and third-party control. The collaboration underlines this blockchain’s objective to contribute toward a more interoperable blockchain ecosystem.

Moreover, the huge market capitalization of Bitcoin will offer great liquidity for Cardano.

ZK-Powered BTC Liquidity on Cardano

The essential building block of this collaboration is the BOS Grail bridge, which links Bitcoin to Cardano’s blockchain with the power of zero-knowledge technology. In contrast with how integrations have typically been done, this bridge utilizes the ZK BitSNARK verification protocol.

Thus, ZK cryptography enables verified transactions without third-party oversight, making the Cardano DeFi ecosystem more efficient and secure. With this integration, the blockchain allows its users to access the functionality of the Bitcoin network on its decentralized network.

Enhancing Cross-Chain Functionality

The Cardano blockchain infrastructural provider, Emurgo, says this integration is a critical step in the network’s mission of improving cross-chain capability. Emurgo CEO Ken Kodama says the ZK-powered bridge offers a secure route to Bitcoin’s liquidity for Cardano users, projects, and developers.

Cardano’s integration with the BOS Grail bridge will also allow the network to accommodate varied DeFi applications. This move will open ways for increased DeFi adoption and improve the functionality of Cardano to make it stronger in this race of blockchains.

The BitcoinOS Grail Bridge

The BitcoinOS Grail bridge represents an integral part of Cardano’s new cross-chain integration plan in partnership with Merlin Chain, a layer-2 scaling solution. More importantly, the bridge allows for the complete decentralization of cross-chain transactions without the need for centralized security measures such as multisig or multiparty computation.

Merlin Chain founder Jeff Yin described the bridge as one of the big milestones for Bitcoin. He explained that it creates a “trustless, decentralized” method for bridging Bitcoin-native assets onto other networks.

Yin further said such a bridge is typical in the industry since every new development comes without a centralized trust mechanism, which increases security and furthers decentralization.

Hoskinson’s Vision

Reacting to the new integration, the blockchain’s founder, Charles Hoskinson, shared an animated celebratory image online. Hoskinson also pointed out SundaeSwap, an AMM decentralized exchange running on Cardano, as a potential site for Bitcoin assets in the process.

Hoskinson’s reaction is proof that this collaboration can unlock massive liquidity on this network, benefitting DeFi developers and users. Access to the Bitcoin market will provide substantial support for Cardano-based DeFi projects, fostering the growth and liquidity of the network.

Hoskinson’s Move for Cardano Adoption in Argentina

Recently, Hoskinson paid a visit to Buenos Aires, the capital of Argentina, for a Cardano Summit. Besides attending this summit, he met the newly elected libertarian President of the nation, Javier Milei.

The network’s founder shared insights about the future of blockchain technology, especially its possible economic impact in Argentina. Hoskinson envisions Argentina’s emergence as the leader in crypto adoption across South America.

He believes that Argentina can be a stable economic gateway for blockchain adoption in the region, the same way as South Africa in the African continent. Due to decades of economic instability and inflation, Argentina has one of the highest rates of cryptocurrency adoption in the world.

Thus, the country is a hotbed for blockchain innovation. Hence, setting up a relationship with its leadership will help Hoskinson advance Cardano’s position in Latin America and increase the continent’s adoption of ADA, Cardano’s governance token.

ADA’s Price Action

Currently trading for under $0.35, ADA has shed close to 90% in value from highs set in 2021, tracking the wider bear market of 2023 and 2024. However, many analysts are predicting a renewed Bitcoin-led market rally by late 2024, which should impact ADA’s price positively.

Should ADA underperform at that time, it might lose even more investor confidence. This period would also be a measure of the token’s strength compared with other leading digital assets as the crypto market is poised for recovery.

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Bitcoin Will Evolve into A Stable Currency in 6 Years – CryptoQuant CEO

CryptoQuant CEO has predicted that Bitcoin (BTC) will transform into a stable currency by 2030 following a 378% increase in its mining difficulty over the past three years. Ki Young Ju believes that institutional investment in large-scale mining operations will push the value of the token higher while there will also be an influx of new miners.

Ensuring Bitcoin Stability through Institutional Influence

According to Ju’s prediction, a rise in mining difficulty is a sign that Bitcoin will stabilize by 2030. He added that the infamous volatility of the cryptocurrency market will be lessened as institutional investors’ influence increases.

In the past, Bitcoin and other digital assets have been known for their erratic price fluctuations, which have helped to create a perception about them as speculative investments rather than a reliable investment portfolio. However, the growing influence of institutional investors has made mining Bitcoin more challenging, resulting in a more centralized allocation of processing power.

While skeptics contend that centralization could compromise this network’s decentralized structure, Ju noted that this change might stabilize the system. In addition to increasing market capital and resources, institutional players also create a more regulated atmosphere, which could lessen sharp price swings.

Ju also forecasted that within the next three years, big financial technology firms would promote the broad use of stablecoins. If his prediction holds, the wider adoption of digital currencies may facilitate BTC’s price stability.

Additionally, Ju is confident that conversations about Bitcoin’s use as a traditional currency will gain more traction by 2028 after the next halving.

Scalability Challenges

Meanwhile, there have been challenges in making this coin’s network useful for regular transactions. A solution to these constraints is the establishment of Layer-2 (L2) solutions, such as the Lightning Network, to facilitate quicker and less expensive transactions.

However, these solutions are still not widely used. Hence, Ju argued that institutional support is essential for the uptake of Bitcoin L2 solutions.

These organizations can offer the infrastructure and funding required to increase L2 technology’s accessibility to a wider range of users. Nevertheless, there is still a lot of competition, especially from options like Wrapped Bitcoin (wBTC).

WBTC is a popular option for investors looking for more seamless transactions. It enables Bitcoin to be integrated into other blockchain ecosystems without the technical complications that frequently accompany L2 infrastructure.

Therefore, widespread adoption of these L2 solutions is still uncertain unless there’s strong institutional support.

$25 Million Bitcoin Options Trade Signals Optimism

Political unpredictability is fueling increased activity in the cryptocurrency market as the US presidential election approaches. Substantial trading activity, such as a record-breaking $25 million Bitcoin options trade on the decentralized derivatives exchange Derive, is one of the notable activities.

Also, an institutional investor’s large transaction indicates a strong belief in a possible BTC price spike following the announcement of the election results. The trade is especially notable because of its complex, multi-legged Bitcoin options strategy.

It entailed selling 200 call contracts at $80,000 and buying 100 call option contracts with a strike price of $70,000. It also wrote one hundred contracts for a $50,000 put option, all of which were scheduled to expire on November 29.

In the event that the price of Bitcoin hits $80,000 by the end of November, this strategy will maximize profits. The organization used eBTC, or restaked BTC via EtherFi, as collateral to secure the transaction.

Notably, this approach offers a twofold benefit: it facilitates the trade and offers the chance to generate passive returns on the Bitcoin staked.

Institutional Interest and Market Response

Without accounting for any possible gains from the staked eBTC, the institution could profit $1.02 million from this single trade if the BTC reaches the $80,000 target before the options expire. Given the current political climate, this noteworthy activity demonstrates the growing confidence of institutional investors.

 Many of them continue to use Bitcoin derivatives as a strategic investment. The growing capital flow into BTC-backed investment products further supports the trend of institutional involvement in the cryptocurrency market.

Furthermore, the change has been significantly influenced by the recent introduction of spot Bitcoin Exchange-Traded Funds (ETFs). According to data from SoSoValue, these ETFs have received $21.34 billion in inflows since their January launch, including a significant net inflow of $192 million on Wednesday alone.

Despite the short-term market volatility, these numbers demonstrate institutional investors’ ongoing faith in Bitcoin’s long-term prospects. Furthermore, the impact of the upcoming election is already influencing Bitcoin’s market behavior.

The price of the asset fluctuated significantly on Thursday, falling to $65,500 before rising to about $67,000.

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Bitcoin ETFs Halt Two-Week Bull Run With $79M in Outflows

Inflows into US spot Bitcoin exchange-traded funds (ETFs) have turned net negative for the first time in two weeks, indicating that momentum pushing prices upward has cooled off.

According to data from Farside Investors, a UK-based investment firm, net flows from the twelve US Bitcoin ETFs were negative on October 22. While the total outflows were $79.1 million, the lion’s share of that came from one ETF product in the ARK 21Shares Bitcoin ETF, with an outflow of $134 million.

The other ETF products either had no activity or still recorded modest inflows. For instance, BlackRock’s iShares Bitcoin ETF, one of the largest ETFs by assets under management, recorded $43 million in inflows.

Bitcoin ETFs and Institutional Demand

Bitcoin has been stuck in its current price range, less than 10% off its all-time high. Some analysts claim that Bitcoin’s sideways trading cooling inflows from institutional investors.

Despite the recent outflows, Bitcoin ETFs have been one of the hottest topics in the cryptocurrency market over the last few months. Institutional ownership of Bitcoin via ETFs has gone up dramatically this year.

According to data from the on-chain analytics platform CryptoQuant, institutional ownership of Bitcoin through ETFs currently comprises about 20% of its circulating supply. Interest in spot Bitcoin ETFs has grown outside the US, with European investors pumping more than 100 million dollars into these US-based crypto products alone in the last month.

Furthermore, on-chain data showed that the net inflow into the US-based Bitcoin ETFs has surpassed $20 billion this year, which was achieved just last week. Notably, there was over $5 billion in net inflows into these investment products in Q3 2024, underlining the continued demand for direct exposure to Bitcoin among institutional investors.

Japan’s Resistance to Crypto ETFs

While the United States and Hong Kong have made policies to accommodate Bitcoin ETFs, the regulatory framework in Japan is stricter. Tax and regulatory policies in Japan continue to impede the growing demand for crypto ETFs in this jurisdiction.

Japan’s primary regulatory body, the FSA (Financial Services Agency), is still cautious about allowing the launch of cryptocurrency-based ETFs in Japan because of their volatility and risks. Similarly, Japan’s Ministry of Finance noted that gains from crypto investment should be categorized under miscellaneous income and that it is subject to a high tax rate of as much as 55%.

In contrast, traditional Japanese ETFs are subject to a 20% capital gain tax. Hence, many investors and advocacy groups within the country have expressed their displeasure at this huge difference.

If Japan can reduce its tax rate on cryptocurrency investments, it would actually spur more innovation and growth.

Growing Support for Crypto-Friendly Tax Reforms

Following the debate regarding crypto taxes, Yuichiro Tamaki, the leader of Japan’s Democratic Party for the People, has publicly called for changes in these tax reforms to accommodate more crypto investors. Tamaki suggested charging a separate tax for crypto assets like other forms of income at 20%, making them equal to more traditional financial instruments such as ETFs.

He added that there should not be any incidence of tax if crypto assets are exchanged against another crypto asset. While Tamaki’s party has a fairly small number of seats in the parliament of Japan, his proposals are attracting the attention of many from different sectors of the crypto community within Japan.

Japan’s Institutional Investors Stay Long on Bitcoin

Despite Japan’s regulatory obstacle, some of the country’s institutional investors remain adamant about having exposure to Bitcoin. For example, Tokyo-listed investment outfit Metaplanet has made the headlines in recent months with its aggressive accumulation of Bitcoin.

Earlier this month, the investment company added another 108.78 BTC, taking its total number to almost 640 BTC, now worth approximately $40.5 million. That move earned it the unofficial nickname of “Asia’s MicroStrategy” — a US-based business intelligence firm known for its BTC holding strategy.

Continued interest from domestic firms such as Metaplanet shows that Bitcoin remains a key asset of interest for institutional investors in the country.

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Crypto Whale Actions Trigger Market Fluctuations: Here’s How

The cryptocurrency market experienced a significant spike in large transactions following crypto whale actions on leading assets like Bitcoin, Ethereum, Toncoin, and Cardano. Data from IntoTheBlock indicated that Bitcoin had the largest transaction volume of nearly $44 billion on October 21st.

Crypto Whale Transactions Involving Leading Crypto Assets

Despite its price dropping 2.2% to $67,500 at the time of writing, the balance of Bitcoin held by long-term holders increased 0.05%, surpassing $856 billion. This sign of confidence from long-term holders showcases a potential support level as BTC continues to consolidate.

Toncoin (TON) noted a 93% surge in whale transactions, amounting to $8.21 billion. Meanwhile, Cardano (A.D.A.) and Wrapped Ether (W.E.T.H.) also saw significant increases in whale transactions, reaching $7.23 billion and $6.16 billion, respectively.

A.D.A. recorded a 28% increase in whale transactions, while W.E.T.H. saw a 117% jump, indicating uncertainty surrounding these assets amidst the ongoing market-wide sell-off. Similarly, crypto whale transactions on Ethereum (ETH), one of the most widely held assets, doubled, reaching $6 billion.

Similar to Bitcoin, ETH long-term holders increased their balances by 0.04%, bringing the total to $288 billion, indicating cautious optimism following the coin’s price decline. Furthermore, stablecoins like U.S.D.C. and DAI have been swept into this surge of whale activity.

The increase in exchange outflows for stablecoins suggests that large investors may be stepping back from trading to seek out buying opportunities.

Crypto Whale Dumps $10 Million in BTC

Meanwhile, an ancient Bitcoin whale, active since the Satoshi era, surfaced again, unloading nearly $10 million worth of BTC on the Kraken exchange. This unexpected sale triggered concerns among investors as it coincided with Bitcoin’s effort to breach the $70,000 mark.

This whale, who began mining in 2009, transferred over $9.6 million in BTC to Kraken, according to Arkham Intelligence. The whale’s sales came after it previously moved $630,000 in BTC on October 14th, adding to a total of $15.1 million in BTC sold over the last two months.

Despite these sell-offs, the whale still holds around 1,077 BTC, valued at roughly $72 million.

Other Crypto Whale Movements

Apart from the Satoshi-era whale, more crypto whale activity was spotted in other Bitcoin transactions. Whale Alert, a leading large transaction tracker, reported two significant transactions earlier today: 2,500 BTC, worth $170.9 million, and 2,700 BTC, valued at $184.6 million, were moved between anonymous wallets.

These movements indicate potential accumulation rather than sell-offs, potentially easing the pressure on Bitcoin prices. Notably, the actions of the crypto whales have resulted in a 3.1% drop in global crypto market capitalization in the last day.

Also, trading volumes soared from $90 billion to $118 billion in the same period. This correction in the market was a much-needed response to the bullish momentum propelled by greed during “Uptober”.

Usually, crypto whale activity can be a yardstick measurement for price direction. Thus, the next couple of days will depict the direction of the market as it struggles to attain some semblance of stability amidst increased volatility.

Whale Scoops Up 155M DOGE

Meanwhile, a Dogecoin whale has caught the attention of many after accumulating 155 million DOGE valued at approximately $21.65 million. The recent accumulation has ignited investors’ interest in meme cryptocurrency.

Whale Alert reported that a Dogecoin address, recorded as DP1…Wdj received this amount from the crypto trading division of Robinhood Markets. Such a vast accumulation demonstrates increased confidence in DOGE’s potential value.

More importantly, it ramps up optimism among its holders. Currently, Dogecoin is on a price rally following recent developments during the U.S. presidential election campaigns, during which X billionaire owner Elon Musk proposed a D.O.G.E. idea.

Even though the presidential election is in November, the accumulation by the whale has increased the positive sentiment surrounding this cryptocurrency. DOGE currently changes hands at $0.139, up nearly 22% and over 30% in the past week and month, respectively.

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Invepex Review – Is Invepex.com Scam or a Legit Crypto Broker?

Invepex Review

In the past few years, the online trading industry has become massive emerging as a highly promising industry for those willing to take risks. Unfortunately, most of the people who join the industry, think that the more money they spend, the more profits they would generate, which is not the case at all. Online trading is a vast industry where you have to make well-calculated decisions. You need to be in the company of a highly responsible and competent trading service provider if you want to achieve that, and my Invepex review is here to help.

I can say with confidence that this Invepex review will completely change the way you’ve been perceiving online trading. It takes you away from the so-called ‘luck game’ and brings you into the reality of online trading. I request you stay and read this review for your enlightenment.

Eyes on the Global Trades

I thought that before talking about any other aspect of the Invepex trading firm, I should talk about the global trading markets access it has to offer.

The teams have introduced a trading platform exclusively to serve you in the best way possible. Through this vast web-based trading platform, you’re able to access trading markets from around the world. There are over a hundred markets you can enter through the platform including indices, stocks, forex, and commodities. You can also interact with over a hundred assets through the platform inducted from the crypto trading market.

To enhance your analytical approach, the Invepex broker platform has loaded the platform with numerous tools. The advanced reporting system, historical reports, price alerts, market news, trading signals, analysis reports, and trading charts/graphs are the most effective tools you can use. You will find it much easier to monitor trading markets using these tools and make calculated decisions.

Learn from the Gurus

Yes, the Invepex trading firm has so many trading tools and services to aid your trading activities, which can turn out to be quite overwhelming. However, the firm has taken care of that by offering you real-time support from the trading and analytical gurus.

You have multiple opportunities to interact with these experts via live trading rooms, one-on-one coaching sessions, webinars, and even podcasts. These interactions can help you learn a great deal of insights about the trading markets. You can learn numerous tips/tricks, tactics, and strategies to maneuver trades, and difficult scenarios.

Apart from real-time interactions, the Invepex broker platform offers trading courses that offer video tutorials, eBooks, FAQs, and glossaries. You can continue gathering knowledge from the content that is made available regardless of your trading experience and aim for long-term benefits.

Practice Before Trading

If you are someone making your way into the trading world for the first time, then you need to learn trading fundamentals before you start your career.

The teams at the Invepex trading firm know that most of the traders are hesitant to invest real money into trades when it is just their first time. This is why they have introduced the demo account so you can learn the fundamentals and basics of trades before entering actual trades. This account lets you enter the simulated version of any trading market where you can analyze the data and execute trades without using actual funds.

Once you’re ready and are no longer hesitant, you can initiate your first trade. Do not go for a large investment when trading for the first time. Instead, go for the basic account, which requires the lowest minimum deposit, and then advance to the higher trading levels.

Brush Off the Uncertainty

Remember, it is you who is investing funds while trading so you should never have an agonizing experience because of the trading service providers. Unfortunately, most traders do spend their careers in agony because they end up being in the company of inauthentic and non-compliant trading firms. Such firms are always in trouble and are always at risk of being taken down.

If you’re with the Invepex broker platform, then you don’t have to worry about that at all. This firm is authentic and compliant because it adheres to the KYC and AML policies, ensuring that you get to trade professionally. You can pay full attention to trading when you are with this firm and count on its backing.

Is Invepex Scam or Legit?

I’m sure that by now, you know about this firm through the Invepex review that you are willing to give it a try. If that is the case, then it means you have started to trust the legitimacy of this firm. If you still want to know more about it, then you can call, email, or chat with their 24/7 customer support staff and find out more about their services.

Ending Thoughts

Remember, if you enter online trading without the right support, guidance, and tools, you’ll only be moving blindly. There is no doubt that the online trading industry is full of opportunities but it is also very dangerous for those who enter trades aimlessly. I urge you to build up an effective strategy and take many things into consideration before going for trading.

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Staked Ether is a New Benchmark for the Crypto Economy – ARK Invest

Recent findings from ARK Invest indicate that staked Ether is now an important benchmark in the crypto economy owing to its very attractive risk-adjusted returns. ARK Invest emphasized that the unique nature of staked Ether positions it similarly to sovereign bonds.

Lorenzo Valente, a research associate at ARK Invest, remarked that the yield from ETH staking is the primary gauge for smart contract activity and economic trends within the digital asset ecosystem alongside other metrics.

Staked Ether Versus Sovereign Bonds

Ethereum’s design allows users to stake their ether for a yield, currently 3.27% annually, according to on-chain data. This yield makes stETH comparable to government bonds.

However, ARK Invest highlights key distinctions, such as Ethereum’s ability to ensure access to their funds, unlike sovereign bonds that carry default risks. Staked Ether’s yield remains consistent and only fluctuates based on on-chain activity.

While staked Ether offers transparency regarding inflation rates, risks remain. Validators face penalties called “slashing,” when they fail to behave properly. Hence, there is an element of risk, but it can’t be compared with conventional government-issued bonds.

The Rise of Staked Ether in DeFi

Investors have two main avenues for staking ether: becoming their validators or utilizing DeFi protocols like Lido and Rocket Pool. These platforms simplify the staking process and offer liquid staking tokens (LSTs) suitable for various DeFi activities.

The increasing use of stETH has positioned it as a preferred collateral option in DeFi protocols. As of now, about 31% of the total stETH supply is used as collateral, reflecting a trend where staked Ether is surpassing ETH in terms of collateral preference.

Shaping the Future of Crypto Finance

As staked Ether continues to gain traction across major DeFi platforms, it is prompting a recalibration within the crypto financial ecosystem. Competing projects must now demonstrate that their offerings can yield returns superior to stETH.

For instance, if the ETH yield compounds to 4% over the long term, other investment vehicles must significantly outperform that return to attract investors. This competitive landscape has led Layer 1 projects like Solana and Avalanche to offer higher staking rates to entice users.

Furthermore, ARK Invest notes that the demand for staked Ether is influencing lending practices in the DeFi space, as users favor lending stETH over traditional stablecoins.

Blockchain and AI are Catalysts for Economic Revitalization – ARK Invest

Meanwhile, ARK Invest founder, Catherine Wood, has predicted that low interest rates could fuel broader market rallies. She also emphasized the importance of diversified investments in artificial intelligence (AI).

In its Q3 crypto market report, ARK Invest identified the convergence of innovative technologies, particularly AI and blockchain, as crucial for rejuvenating the global economy. As inflation gives way to deflation in various sectors, ARK Invest argued that its five innovation platforms—robotics, energy storage, AI, blockchain, and multi-OMIC sequencing—will impact macroeconomic indicators in the next several years.

ARK Invest Highlights Disruptive Tech’s Role

Wood emphasized that the most compelling investment opportunities are disruptive innovations that may lead to more diverse market leaders. According to ARK Invest, the economy has confronted successive recessions driven by rising interest rates since early 2022.

Therefore, the company stressed that AI and blockchain technologies are great additions to productivity growth and follow-through innovation. Notably, the ARK Next Generation Internet ETF has outperformed global equity indices in recent quarters, mainly because of holdings in stocks like Tesla and Palantir Technologies.

Harnessing Technology for Economic Resilience

ARK Invest further pointed out that the initial inflation triggered by supply shocks is transitioning to disinflation, potentially leading to deflation. The firm believes that advancements in AI and blockchain have contributed to this economic shift.

Companies that aggressively adopt these technologies can enhance productivity and create new solutions to help counteract economic downturns. ARK Invest posits that these innovations could not only stimulate economic recovery but also transform market dynamics by bringing forth new leaders across various sectors.

The post Staked Ether is a New Benchmark for the Crypto Economy – ARK Invest first appeared on CryptocyNews.com.

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