Big news in the cryptocurrency world
One of the world's largest exchanges: Chicago Board Options Exchange, which hosts multiple Bitcoin and Ethereum spot ETFs, officially submitted Vanda and 21 Shares' Solana ETF application to the China Securities Regulatory Commission, shocking everyone.
There are three things that are very exciting:
Cooperation application: Vanda has been fighting alone before, and now 21 Shares has also joined the ranks of applying for Solana ETF. 21 Shares has a great background. It cooperated with Ark Fund and launched the first batch of Bitcoin ETFs with BlackRock at the beginning of this year.
Institutional participation: Since Vanda took the lead, more and more institutions have participated in the application for Solana ETF, which is a positive signal for Sol price.
Clear time frame: After the ETF application is submitted, its deadline will also be clear, usually 240 days, which means it will end in February next year, just in time for the middle of the bull market, which is very exciting.
What’s even more exciting is that Solana’s transaction data performance is exceptionally strong. Its 24-hour transaction volume has repeatedly exceeded Ethereum, and its 7-day total transaction volume is on par with Ethereum, firmly sitting in the top spot.
Therefore, Sol's potential is actually underestimated by many people. In this bull market, it is very likely to reach 700 or even 1000u.
Dogecoin configuration suggestions
As the leader of Dogecoin on its chain, WIF is worth investing in, but don’t invest heavily. Dogecoin should still be diversified, and buying different types is more stable.
For example, Pepe, which Xiao Miao has been recommending, has a very clear rise and fall cycle. Every time it falls by 50-60%, it is usually the bottom, and after a few weeks of consolidation, it will continue to rise sharply. It is expected that the next wave will rise to 0.025 to 0.03. I also ambushed a lot of Pepe, after all, it is only a few days away from the issuance of the Ethereum ETF. As the new leader of the local dog in this cycle, Pepe is expected to have a lot of hype. For example, a whale increased his position by 80 million US dollars!
Please note that this is not 8 million, but 80 million, which is equivalent to 500 million RMB. This is no joke, it is simply amazing.
Another coin that this whale added to his position is Ondo, which he also bought for $80 million. The coin he chose is exactly the same as mine. You see, he must be smarter than you and me to have made so many billions. So, in addition to Sol, you can also buy some of these two coins, as their prices are now at a big discount.
Two potential positives for the market
First, the German government has sold more than half of its Bitcoin holdings, from 50,000 to 13,000. At this rate, they will finish selling in the next two weeks. By then, the 3 billion selling pressure will disappear, and the cryptocurrency market is expected to usher in a bigger rebound after all the bad news has been exhausted.
Secondly, according to the news, the FTX liquidation team mentioned in the email that the compensation hearing will begin within two months, after which they will return more than 10 billion US dollars to various creditors. Note that this money is returned in the form of US dollars. By then, after receiving the 10 billion, these creditors are expected to return a large part of their funds to the cryptocurrency circle.
Future Prospects of the Cryptocurrency Circle
Xiao Miao thinks that the cryptocurrency market will rise one month before repayment, so there is no need to worry now, the bull market in the cryptocurrency market will definitely come. In addition, there will be the Prague upgrade of Ethereum at the end of the year, which is expected to push it up to $8,000. Bitcoin may also reach $100,000 by the end of the year, and it is more likely to rise to $150,000 or even $200,000 next year.
What we need to do now is to work hard to hoard coins, seize good operating opportunities, and accumulate more capital.
For example, we entered the market when Ethereum hit the bottom of $2,800 three times. On Monday night, I suggested that everyone wait patiently and not rush to enter the market at $3,000. Instead, place buy orders at $2,850 and $2,920 to wait for action. As a result, the transaction was completed soon, and the price rose rapidly afterwards.
These three swing operations, without leverage, have all made a profit of 30%. If the leverage is increased by two or three times, the profit will be very considerable. In addition, PEPE and BNB have also experienced a significant rebound. Therefore, friends who are interested in daily operations can pay attention to it.
Another important thing to watch is the recent speech by the Fed Chairman, which revealed a lot of important information. The focus of participants is gradually shifting from inflation to recession and employment issues, which is obviously a signal of a shift.
Tonight’s CPI data did not save the weekly line from leaving the M top. It seems that this needle has to be inserted.
Analysts at Citigroup predict that the Fed will start cutting interest rates in September, and will continue to cut interest rates at each meeting thereafter, with a total of eight cuts by July next year, bringing interest rates close to halving. This will be a super-large release of money. For the cryptocurrency community, this is the long-awaited arrival of incremental funds!
Therefore, the current market situation is still in a seesaw phase.
You must hold on, because the dawn of light is really just around the corner!
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
