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 U.S. Treasury Department has raised concerns about the vulnerability of NFTs to fraud and scams, calling for tighter regulations. The report highlights issues such as inadequate cybersecurity, money laundering risks, and fluctuating prices. GameStop and Impact Theory have faced regulatory actions related to NFTs.

Portfolio Pulse from Aniket Verma

May 30, 2024 | 6:08 am

Cathie Wood of ARK Invest believes the approval of Ethereum ETFs is linked to U.S. politics and sees potential for a Solana ETF. She attributes the approval to the growing importance of cryptocurrency in U.S. elections and mentions former President Donald Trump's increasing comfort with crypto. Wood remains bullish on Bitcoin and highlights significant inflows into the ARK 21Shares Bitcoin ETF.

Portfolio Pulse from Aniket Verma

May 30, 2024 | 4:13 am

Cryptocurrency markets experienced a downward trend on Wednesday, with Bitcoin, Ethereum, and Solana seeing declines, while Shiba Inu outperformed with a 3.8% gain. Notable developments include PayPal launching a stablecoin on Solana and discussions around Ethereum ETFs. Historical data suggests Bitcoin prices rally post-election.

Portfolio Pulse from Ivan Crnogatić

May 29, 2024 | 8:36 pm

BRETT, a meme coin inspired by the 'Boys Club' comic series, aims to become the leading meme coin on the Base blockchain. Crash, a representative of the BRETT community, expressed high expectations for its market performance, drawing parallels to the success of Shiba Inu and WIF on their respective blockchains. The decentralized nature of BRETT and its strong community support are highlighted as key factors for its potential growth.

Portfolio Pulse from Murtuza Merchant

May 29, 2024 | 7:20 pm

PayPal (NYSE:PYPL) has launched its PYUSD stablecoin on the Solana blockchain, known for its high transaction speed and low fees. Initially launched on Ethereum, PYUSD aims to expand its usage to retail payments and emerging markets. Despite regulatory scrutiny and technical challenges, PayPal remains confident in Solana's stability and plans to add PYUSD to more blockchains in the future.

Portfolio Pulse from Murtuza Merchant

May 29, 2024 | 4:24 pm

A trader has netted a 1,197x gain from the meme coin Dogwifhat (WIF), cashing out $1.57 million while still holding $5.47 million worth of WIF. The coin has surged 34% in the past week, reflecting a broader trend of meme coins gaining despite dips in major cryptocurrencies.

Portfolio Pulse from Ivan Crnogatić

May 29, 2024 | 1:23 pm

PayPal Holdings, Inc. (NASDAQ:PYPL) has announced that its stablecoin, PayPal USD (PYUSD), is now available on the Solana blockchain. This move aims to make PYUSD faster and cheaper to use, providing users with increased flexibility and control.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 1:15 pm

Caitlyn Jenner reaffirmed her support for the JENNER cryptocurrency, emphasizing it as a long-term project despite initial market volatility. The coin, launched on the Solana-based memecoin launchpad pump.fun, has seen a 7% decline since its debut but has amassed a market cap of $18.36 million. Jenner hinted at major news coming soon, although skepticism arose after she claimed being scammed by a middleman.

Portfolio Pulse from Aniket Verma

May 29, 2024 | 7:30 am

Cryptocurrency markets are experiencing a slight downturn, with Bitcoin, Ethereum, and Dogecoin all showing losses. Despite this, analysts predict a market bounce. Notable developments include Dogecoin's potential rise and Shiba Inu's strong performance. Futures open interest and liquidations indicate increased leverage and long positions.

Portfolio Pulse from Ivan Crnogatić

May 28, 2024 | 7:51 pm

The Solana-based CAT memecoin has crashed after its creators were accused of hacking a crypto influencer's account and manipulating the coin's price. The coin's value dropped by 70% in the last 24 hours.

Portfolio Pulse from Aniket Verma

May 28, 2024 | 8:18 am

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