š MARKET MOVING NEWS! (29/12/24)
1ļøā£ Volatility Shares Files For Solana Futures ETF, Despite Lack Of Sol Futures Products ā¼ļø
Asset manager Volatility Shares has reportedly filed an application for three new ETFs that would invest in Solana futures contracts offered on CFTC-regulated exchanges. Interestingly, the filing comes despite the absence of such Solana futures products in the market. Bloomberg ETF analyst Eric Balchunas commented on the filing stating that it was āwild," but added it is a "...good sign Solana futures [are on the] way which arguably bodes well for spot [ETF approval] odds."
2ļøā£ El Salvador's Bitcoin Stash Hits 6,000 BTC, Worth $569M šø
El Salvador has reportedly become the sixth country to currently hold more than 6,000 BTC. According to The National Bitcoin Office of El Salvadorās portfolio tracker, the country acquired 1 BTC on Dec. 29th, pushing its holdings to 6000.77 BTC (worth $569.3 million). Notably, El Salvadorās BTC holdings were acquired at an average purchase price of $45,450 per BTC, putting it up 108.02% on its Bitcoin investment at current prices. Data from BitBoās Bitcoin Treasuries shows that the only countries ahead of El Salvador in terms of BTC holdings are the United States, China, the United Kingdom, Ukraine and Bhutan.
3ļøā£ Memecoins Lose Momentum As $40B Lost In December š½
According to a Cointelegraph report, the overall market capitalisation of memecoins dropped by about 30% in December, hinting there may be a slowdown in momentum and demand for meme-based tokens. The report cited data from CoinMarketCap which shows that the total market cap for memecoins went up to as high as $137.06 billion on Dec. 9 before plummeting to a low of $92.67 billion on Dec. 23, marking a 32.38% decrease in market capitalisation within the month.
4ļøā£ Squid Game Token Scams Flood The Market ā
According to media reports, the recent release of the popular Korean dystopian thriller Squid Gameās second season on Netflix has seen a significant number of similarly named crypto tokens flooding the market. However, community members warn these tokens may be scams or rug pulls. Blockchain security firm PeckShield has alerted community members of Squid Game tokens that they deemed fraudulent.
