ElSalvadorCryptoWealth
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MARKET MOVING NEWS (29/12/24)
đ MARKET MOVING NEWS! (29/12/24)
1ď¸âŁ Volatility Shares Files For Solana Futures ETF, Despite Lack Of Sol Futures Products âźď¸
#SolanaETF
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 âwild," but added it is a "...good sign Solana futures [are on the] way which arguably bodes well for spot [ETF approval] odds."
2ď¸âŁ El Salvador's Bitcoin Stash Hits 6,000 BTC, Worth $569M đ¸
#ElSalvadorCryptoWealth
El Salvador has reportedly become the sixth country to currently hold more than 6,000 BTC. According to The National Bitcoin Office of El Salvadorâs portfolio tracker, the country acquired 1 BTC on Dec. 29th, pushing its holdings to 6000.77 BTC (worth $569.3 million). Notably, El Salvadorâs 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 BitBoâs 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.
3ď¸âŁ Memecoins Lose Momentum As $40B Lost In December đ˝
#MemeCoinMarket
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.
4ď¸âŁ Squid Game Token Scams Flood The Market â
#Squidgame
According to media reports, the recent release of the popular Korean dystopian thriller Squid Gameâs 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.
#Crypto2025Trends
1ď¸âŁ Volatility Shares Files For Solana Futures ETF, Despite Lack Of Sol Futures Products âźď¸
#SolanaETF
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 âwild," but added it is a "...good sign Solana futures [are on the] way which arguably bodes well for spot [ETF approval] odds."
2ď¸âŁ El Salvador's Bitcoin Stash Hits 6,000 BTC, Worth $569M đ¸
#ElSalvadorCryptoWealth
El Salvador has reportedly become the sixth country to currently hold more than 6,000 BTC. According to The National Bitcoin Office of El Salvadorâs portfolio tracker, the country acquired 1 BTC on Dec. 29th, pushing its holdings to 6000.77 BTC (worth $569.3 million). Notably, El Salvadorâs 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 BitBoâs 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.
3ď¸âŁ Memecoins Lose Momentum As $40B Lost In December đ˝
#MemeCoinMarket
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.
4ď¸âŁ Squid Game Token Scams Flood The Market â
#Squidgame
According to media reports, the recent release of the popular Korean dystopian thriller Squid Gameâs 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.
#Crypto2025Trends
El Salvador may buy $3 Trillion worth of Bitcoin.đ
$BTC
#ElSalvadors #ElSalvadorCrypto #ElSalvadorCryptoWealth
$BTC
#ElSalvadors #ElSalvadorCrypto #ElSalvadorCryptoWealth
El Salvadorâs Bitcoin Gain Passed $333 million
Salvadoran President Nayib Bukele took to social media to draw attention to the nationâs unrealized profits from its Bitcoin following the cryptocurrencyâs first-ever $100,000 surge.
The cryptocurrency community celebrated when Bitcoin hit $100,000 for the first time this month. Bukele was asked to share El Salvadorâs Bitcoin portfolio.
In response, Bukele posted on X the amount of Bitcoin held by the nation. His most recent report showed the nation has spent almost $270 million on Bitcoin since it first adopted the cryptocurrency.
The unrealized gains totaled over $333 million, and no Bitcoin has been sold. Bitcoin was first accepted as legal tender in El Salvador.
El Salvador had been on a Bitcoin buying spree ever since Bukele committed to purchasing one Bitcoin every day on the 17th of 2022, announcing a dollar-cost averaging (DCA) strategy.
According to the website Nayib Tracker, which tracks the nationâs Bitcoin holdings, El Salvador has 6,180 BTC.
The average price to buy Bitcoin is $44,740, which indicates that the nation has experienced a 122 percent increase in market prices.
El Salvador has reported additional advantages since embracing Bitcoin in addition to BTC profit. The nationâs adoption of Bitcoin increased travel as well.
The International Monetary Fund (IMF) has continuously urged El Salvador to reevaluate its Bitcoin policies, notwithstanding the nationâs alleged success.
The IMF acknowledged the potential for greater financial inclusion but requested that El Salvador cease accepting Bitcoin as legal tender on May 25, 2022, citing threats to financial stability.
El Salvador was once again urged by the IMF to relax its Bitcoin regulations.
Julie Kozack, IMFâs director of communications, suggested reducing the countryâs Bitcoin Lawâs reach and limiting the public sectorâs exposure to the cryptocurrency.
#ElSalvadorCryptoWealth #bitcoin100k #cryptomarket #ElSalvadorBTC #CryptoNews
Salvadoran President Nayib Bukele took to social media to draw attention to the nationâs unrealized profits from its Bitcoin following the cryptocurrencyâs first-ever $100,000 surge.
The cryptocurrency community celebrated when Bitcoin hit $100,000 for the first time this month. Bukele was asked to share El Salvadorâs Bitcoin portfolio.
In response, Bukele posted on X the amount of Bitcoin held by the nation. His most recent report showed the nation has spent almost $270 million on Bitcoin since it first adopted the cryptocurrency.
The unrealized gains totaled over $333 million, and no Bitcoin has been sold. Bitcoin was first accepted as legal tender in El Salvador.
El Salvador had been on a Bitcoin buying spree ever since Bukele committed to purchasing one Bitcoin every day on the 17th of 2022, announcing a dollar-cost averaging (DCA) strategy.
According to the website Nayib Tracker, which tracks the nationâs Bitcoin holdings, El Salvador has 6,180 BTC.
The average price to buy Bitcoin is $44,740, which indicates that the nation has experienced a 122 percent increase in market prices.
El Salvador has reported additional advantages since embracing Bitcoin in addition to BTC profit. The nationâs adoption of Bitcoin increased travel as well.
The International Monetary Fund (IMF) has continuously urged El Salvador to reevaluate its Bitcoin policies, notwithstanding the nationâs alleged success.
The IMF acknowledged the potential for greater financial inclusion but requested that El Salvador cease accepting Bitcoin as legal tender on May 25, 2022, citing threats to financial stability.
El Salvador was once again urged by the IMF to relax its Bitcoin regulations.
Julie Kozack, IMFâs director of communications, suggested reducing the countryâs Bitcoin Lawâs reach and limiting the public sectorâs exposure to the cryptocurrency.
#ElSalvadorCryptoWealth #bitcoin100k #cryptomarket #ElSalvadorBTC #CryptoNews