Streetbeat News

SOLUSD

Solana / US Dollar

Industry

Digital Currency

Solana is a public, open-source blockchain that supports smart contracts, including non-fungible tokens (NFTs) and a variety of decentralized applications (dApps). Native to Solana's blockchain is the SOL token which provides network security through staking as well as a means of transferring value.

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The likelihood of a Solana-based ETF being approved in 2024 is very low, with only a 6% chance according to Bloomberg's Eric Balchunas. The SEC's rejection of Cboe BZX's filings for Solana ETFs and regulatory concerns about classifying Solana as a security contribute to this pessimistic outlook.

Portfolio Pulse from Murtuza Merchant

August 20, 2024 | 6:03 pm

Technical analyst Crypto Cred analyzed Bitcoin's recent price action, noting a rally driven by spot buying rather than futures. He identified $62,000 as a key level for Bitcoin and suggested waiting for a higher low in Ethereum before entry. Solana is seen as uninteresting, while Tron shows strength due to meme coin activity.

Portfolio Pulse from Khyathi Dalal

August 20, 2024 | 4:40 pm

The SEC has raised concerns about Solana's classification as a security, leading to a pause in ETF filings related to Solana. Cboe Global Markets and the SEC decided not to submit necessary forms for ETF approval, halting the process. Despite this, Solana's price rose by 2.72%.

Portfolio Pulse from Aniket Verma

August 20, 2024 | 5:14 am

Cryptocurrency markets, including Bitcoin, Ethereum, and Dogecoin, are down but holding crucial trend lines, suggesting potential for a reversal. Bitcoin's large transaction volume increased, while daily active addresses decreased. Analysts predict Bitcoin could reach $116,000, despite current bearish trends.

Portfolio Pulse from Khyathi Dalal

August 19, 2024 | 8:28 pm

The cryptocurrency market is experiencing volatility with Bitcoin and Ethereum prices down. Despite this, Bitcoin saw significant inflows, while Ethereum had modest inflows. Grayscale experienced outflows, indicating a shift in investor trust. Solana faced record outflows due to declining meme coin trading volumes.

Portfolio Pulse from Murtuza Merchant

August 19, 2024 | 12:35 pm

Cryptocurrency markets are rallying despite challenging conditions, with Bitcoin, Ethereum, and Dogecoin seeing notable gains. Analysts have mixed feelings about the market's direction, but some believe Bitcoin will thrive regardless of political outcomes. Notable developments include the launch of 5ire's mainnet and the introduction of MSTX, a leveraged ETF for MicroStrategy stock.

Portfolio Pulse from Ivan Crnogatić

August 16, 2024 | 8:00 pm

Crypto experts Raoul Pal and Anthony Scaramucci discussed the future of digital assets, predicting significant growth despite current market volatility. Pal emphasized that economic conditions favor crypto, while Scaramucci highlighted regulatory acceptance. They also discussed Solana's potential and the transformative power of NFTs.

Portfolio Pulse from Ivan Crnogatić

August 16, 2024 | 6:26 pm

Sun.io, affiliated with Tron founder Justin Sun, has launched SunPump, a platform for creating meme coins on the Tron blockchain. This positions SunPump as a competitor to Solana's pump.fun platform. SunPump emphasizes security and transparency, with a rigorous vetting process and a partnership with Poloniex for listing successful projects. Tron and SunPump are also investing $10 million into the Meme Ecosystem Boost Incentive Program.

Portfolio Pulse from Murtuza Merchant

August 16, 2024 | 2:27 pm

Cryptocurrency markets are experiencing significant volatility, with major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin seeing notable declines. Bitcoin miners' profits have dipped, and long liquidations have spiked. Despite the downturn, some traders believe the market is nearing the end of its 'final weeks of pain.' Additionally, MSTX has launched as the first single-stock leveraged ETF for MicroStrategy stock, offering 175% exposure.

Portfolio Pulse from Khyathi Dalal

August 15, 2024 | 8:06 pm

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