Streetbeat News

SOLUSD

Solana / US Dollar

https://solana.com/

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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European stocks and the British pound surged ahead of the UK election results, with the Labour Party expected to win a landslide victory. The FTSE 100 Index rose over 1%, led by Smith & Nephew, Bunzl, Melrose, and Barclays. The Invesco CurrencyShares British Pound Sterling ETF (FXB) edged 0.2% higher. The broader Euro STOXX 50 Index, tracked by the SPDR DJ Euro STOXX 50 ETF (FEZ), closed 0.4% higher. Cryptocurrencies, including Bitcoin, Ethereum, Solana, Ripple, and Cardano, saw significant declines.

Portfolio Pulse from Piero Cingari

July 05, 2024 | 3:00 pm

Cryptocurrency markets are trading lower with Bitcoin, Ethereum, and Dogecoin all in the red. Bitcoin is struggling to maintain its $60,000 support level. Notable statistics include a drop in Bitcoin's large transaction volume and daily active addresses. Significant liquidations and open interest levels are also observed. CoinDCX has acquired BitOasis, marking its entry into the MENA market. Analysts predict potential further declines if Bitcoin breaks key support levels.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 2:59 pm

Experts discuss the decoupling of Bitcoin and Ethereum from tech stocks, suggesting a maturing market. While the Nasdaq, led by Nvidia, continues to rally, Bitcoin and Ethereum remain range-bound. Rising expectations for Fed rate cuts could be bullish for crypto, but the upcoming U.S. election adds uncertainty.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 2:59 pm

Capriole Fund founder Charles Edwards expressed skepticism about the practical uses of cryptocurrencies in 2024, highlighting Bitcoin hodling and meme coin gambling as the only active use cases. He criticized the current state of DeFi, NFTs, and other crypto applications, suggesting that Bitcoin, stablecoins, and futures arbitrage are the only high-value products.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 2:58 pm

Matthew Sigel, VanEck’s Head of Digital Assets Research, stated that cryptocurrency voters could influence the upcoming U.S. presidential election. He noted a shift in the regulatory environment with more Democrats supporting pro-crypto legislation. Sigel emphasized the importance of regulatory treatment of Ethereum and Solana, and criticized SEC Chair Gary Gensler's approach. He expressed optimism for the approval of digital asset ETFs with a slight regulatory shift.

Portfolio Pulse from Murtuza Merchant

July 03, 2024 | 1:57 pm

The Joe Biden-inspired meme coin, Jeo Boden (CRYPTO: BODEN), has seen a significant drop of 95% from its highs, raising questions about its survival. Prominent crypto traders have highlighted the coin's poor performance, attributing it to Biden's age-related issues and the aftermath of the first presidential debate. The coin's current valuation stands at $30 million, with some traders planning to double down at a $24 million valuation.

Portfolio Pulse from Khyathi Dalal

July 03, 2024 | 1:26 pm

Bitcoin has dropped to $60K, influenced by the first net outflow from Bitcoin spot ETFs in nearly a week. Grayscale Bitcoin Trust led the outflow, while BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund saw inflows. The decline also affected other major cryptocurrencies like Ethereum, Solana, and Dogecoin. Market analysts attribute the downturn to the anticipated distribution of Bitcoin from the defunct Mt. Gox exchange. Despite the current bearish sentiment, some analysts remain cautiously optimistic about Bitcoin's future price targets.

Portfolio Pulse from Murtuza Merchant

July 03, 2024 | 11:15 am

Cryptocurrency markets are trading lower despite positive indicators such as increased Bitcoin ETF flows, exchange netflows, and whale transactions. Bitcoin, Ethereum, and Dogecoin have all seen declines, while Solana has gained. Notable developments include Standard Chartered's prediction of Bitcoin reaching $100K by the US election and Robinhood's potential expansion into cryptocurrency futures markets.

Portfolio Pulse from Khyathi Dalal

July 02, 2024 | 9:26 pm

Solana's (CRYPTO: SOL) price increased by 3.38% in the past 24 hours to $152.64, continuing a positive trend with a 7.0% gain over the past week. Despite a 39.0% decrease in trading volume, Solana's market cap stands at $70.64 billion, ranking it #5.

Portfolio Pulse from Benzinga Insights

July 02, 2024 | 7:00 pm

Bonk (CRYPTO: BONK), a Solana-based meme token, surged over 13% in the last 24 hours, outperforming major cryptocurrencies like Bitcoin and Ethereum. The trading volume for BONK increased by 132% to $329.16 million. Influencer Jakey's support and the coin's role in reviving Solana post-FTX collapse contributed to the bullish sentiment.

Portfolio Pulse from Aniket Verma

July 02, 2024 | 3:17 am

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