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🔥Hot off the press! Solana's native token, SOL, is on a roll, folks! 🚀 It's seen a whopping double-digit surge in just 24 hours. At the time of writing, SOL is sitting pretty at $161, after touching $165 earlier. Its 24-hour trading volume? A cool $3.7 billion, marking a 56.6% increase. Talk about a hot streak! 😎 According to CoinGecko data, SOL is now the fifth largest cryptocurrency, boasting a market cap of $73.1 billion. 💪 So, what's behind this meteoric rise? Well, a few recent developments in the crypto space have played a part. Robinhood Crypto, the digital asset trading platform, announced it will launch a Solana-staking feature in Europe. 🎉 This means customers can now stake their Solana (SOL) holdings, earning rewards while maintaining the flexibility to unstake as they wish. In addition, Robinhood is offering a bonus program for new customers, where they can receive a 10% bonus on their net purchases during their first 30 days on the platform, with bonuses paid out in USDC stablecoins. 💰 Meanwhile, Infinex, a decentralized perpetual contract trading platform, has also thrown its support behind Solana. The integration of Solana into the Infinex platform opens up new opportunities for users, with the Total Value Locked (TVL) on the platform reaching over 71 million USDC since its launch. Last but not least, Marginfi, a decentralized portfolio margining protocol for trading on Solana, revealed the L1 blockchain’s first Liquidity Layer. This new layer offers a range of integrated, native yields, further boosting Solana's appeal. 🌟 As we wrap up, let's not forget the broader crypto market, which has risen by 4.7% in the last day to reach a total market cap of $2.5 trillion. Bitcoin (BTC) is currently trading at $66,000, marking a 5.7% increase in the last 24 hours, while Ethereum (ETH) has seen a 3.3% increase and is now trading at around $3,000. Stay tuned for more updates! 🚀

🔥Hot off the press! Solana's native token, SOL, is on a roll, folks! 🚀 It's seen a whopping double-digit surge in just 24 hours. At the time of writing, SOL is sitting pretty at $161, after touching $165 earlier. Its 24-hour trading volume? A cool $3.7 billion, marking a 56.6% increase. Talk about a hot streak! 😎

According to CoinGecko data, SOL is now the fifth largest cryptocurrency, boasting a market cap of $73.1 billion. 💪

So, what's behind this meteoric rise? Well, a few recent developments in the crypto space have played a part. Robinhood Crypto, the digital asset trading platform, announced it will launch a Solana-staking feature in Europe. 🎉 This means customers can now stake their Solana (SOL) holdings, earning rewards while maintaining the flexibility to unstake as they wish.

In addition, Robinhood is offering a bonus program for new customers, where they can receive a 10% bonus on their net purchases during their first 30 days on the platform, with bonuses paid out in USDC stablecoins. 💰

Meanwhile, Infinex, a decentralized perpetual contract trading platform, has also thrown its support behind Solana. The integration of Solana into the Infinex platform opens up new opportunities for users, with the Total Value Locked (TVL) on the platform reaching over 71 million USDC since its launch.

Last but not least, Marginfi, a decentralized portfolio margining protocol for trading on Solana, revealed the L1 blockchain’s first Liquidity Layer. This new layer offers a range of integrated, native yields, further boosting Solana's appeal. 🌟

As we wrap up, let's not forget the broader crypto market, which has risen by 4.7% in the last day to reach a total market cap of $2.5 trillion. Bitcoin (BTC) is currently trading at $66,000, marking a 5.7% increase in the last 24 hours, while Ethereum (ETH) has seen a 3.3% increase and is now trading at around $3,000.

Stay tuned for more updates! 🚀

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🎉Whoop! Whoop! Bitcoin (BTC) is on the move again, folks! 🚀 It's soared past the $60,000 mark and is now chilling in the $67,000 zone, thanks to the lower-than-expected inflation rate in the US. 🇺🇸 CryptoQuant's latest report suggests that the decline in BTC selling pressure is helping to sustain this rally. 📉 However, the demand for the cryptocurrency is yet to pick up. 🧐 The decrease in selling pressure is evident in the on-chain activity of short-term holders and the balances on over-the-counter (OTC) desks. 📊 The BTC balance on OTC desks has been steady since late April, indicating less bitcoin supply from market participants. 📈 Short-term BTC holders are currently at low or negative profit margins, which historically coincides with a local bottom in prices. 😲 Miners' low profitability further supports the possibility of a market bottom. They're extremely underpaid right now, with profitability levels last seen in March 2020, right after the COVID market crash. 😷 Historically, extremely low miner profitability has been associated with price bottoms. 📉 On the flip side, Bitcoin demand growth seems to be stabilizing after a month of deceleration. 📊 The rise in BTC balances of permanent holders and large investors indicates higher demand from these market participants. 📈 However, BTC demand needs to surge further to sustain the latest price rally. This could come from the spot Bitcoin exchange-traded fund (ETF) market and other Bitcoin investment funds. 💰 CryptoQuant analysts suggest that the crypto market needs a new wave of spot Bitcoin ETF purchases to refresh demand growth. 🌊 Stablecoin liquidity growth is also surging, signaling potential movement to the upside for BTC. 🚀 So, keep your eyes on the prize, Bitcoin enthusiasts! The game is on! 🎉🎉🎉
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Hey there, BTC enthusiasts! 🚀 The Bitcoin adoption wave is hitting new highs, with traditional finance (TradFi) firms jumping on the bandwagon at an impressive speed. The growing investments in spot Bitcoin ETFs are a clear sign of increasing institutional interest in crypto assets. 💼💰 Last quarter, a whopping number of U.S. banks, investment managers, hedge funds, and professional firms bought spot Bitcoin ETFs, according to their 13F filings with the SEC. A tweet from K33 Research revealed that 937 professional firms in the U.S. were invested in the Bitcoin ETF market as of March 31. 📈 Among the big players, Millennium Management and Susquehanna International Group (SIG) led the charge with investments of $2 billion and $1 billion in Bitcoin products, respectively. Following them were Bracebridge Capital and Boothbay Fund, with ETF purchases worth $434 million and $377 million. 💪 Even banking giant Morgan Stanley and advisory company Pine Ridge Advisers made significant moves with investments totaling $269 million and $205.8 million. Other firms like Aristeia Capital, Graham Capital, and Crcm LP also reported substantial exposures to Bitcoin ETFs. 🏦 Interestingly, many other professional firms disclosed smaller investments in the Bitcoin ETF market. Even major banks like JPMorgan Chase and Wells Fargo dipped their toes in, with investments totaling $760,000 and $143,000, respectively. 🏢 Most of these firms spread their investments across several ETFs, with Grayscale’s GBTC, BlackRock’s IBIT, Fidelity’s FBTC, and Ark Invest’s ARKB seeing the largest allocations. 🌐 And guess what? The digital asset market may soon see an influx of investments from state-owned professional firms. The State of Wisconsin Investment Board has already set the pace with a $163 million exposure to Bitcoin ETFs. 🌎 So, keep your eyes peeled, folks! The Bitcoin train is picking up speed! 🚂💨
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