Solana Co-founder Raj Gokal recently took a firm stance against the skepticism surrounding meme coins. Moreover, slyly targeted Ethereum founder Vitalik Buterin while defending meme coin projects. Also, he attached Buterin’s picture to the post to make his stance bold and clear.
Solana Co-Founder Takes Aim At Vitalik Buterin
In a post on X, Gokal emphasized the importance of embracing the diverse usage of permissionless systems, despite concerns from traditionalists. “Meme coins are scaring away serious builders,” Gokal wrote, highlighting the community sentiment amid the growth of such projects. However, he swiftly followed up with a pointed reminder targeted at Buterin.
He stated, “May I remind you about the ‘serious builder’ who set all of this work in motion?” In addition, the attached blurry picture of Vitalik Buterin served as a not-so-subtle nod to Ethereum’s co-founder.
Meanwhile, Gokal’s statement appeared to defend the enthusiasm surrounding meme coins. The Solana founder also suggested that those who dismiss such trends may struggle to thrive in the fast-paced world of cryptocurrency innovation. “If you’re fragile enough to get spooked by how young people choose to use permissionless systems to have fun, you will quite simply not make it here,” he remarked.
The post is indicative of the ongoing rivalry between Solana and Ethereum, two prominent blockchain networks competing for dominance in the decentralized finance (DeFi) space. However, Buterin hasn’t responded to Gokal yet, leaving room for further discussions around the topic.
Also Read: Crypto Market Selloff: $70B Liquidated As Bitcoin, SOL, XRP, SHIB Prices Fell
Meme Coin Builders Are Seriously Competent
In a recent statement, Lily Liu, President at the Solana Foundation, has come forward to support meme coin founders, echoing sentiments expressed by Gokal. Liu emphasized the competence of many meme coin founders, stating that they are “seriously competent builders.”
Addressing the skepticism surrounding meme coins, Liu pointed out that these builders may not be creating “fundamental value” in the traditional sense of price/earnings ratios. Instead, the Solana President highlighted the importance of community value in the crypto space. In addition, she asserted that meme coin founders are actively constructing primitives for the economy centered around “financialized” communities.
However, Gokal and co-founder Anatoly Yakovenko have always tried to safeguarded the Solana community from potential scams. They advised to not trust random Solana meme coin presales on X. Despite promoting meme coins, they advise to research about the project thoroughly before investing.
Also Read: Solflare Campaign Attracts 500K MetaMask Users to Solana

Shiba Inu (SHIB) has demonstrated resilience despite recent market downturns. Data reveals that roughly over 700 trillion SHIB tokens held by more than 650,000 wallet addresses remain profitable, reflecting steadfast confidence among holders in the token’s long-term value.
Shiba Inu Market Resilience Amid Volatility
Recent on-chain analytics have uncovered an interesting trend among Shiba Inu investors. Despite a general dip in SHIB’s market price, investors continue to hold a substantial volume of tokens—totaling 733 trillion—showing unrealized gains.
These holdings, maintained by approximately 653,530 individual wallets, were acquired at prices ranging from $0.000002 to $0.000022, averaging out at $0.000011.
This indicates not only a significant level of acquisition but also a broad base of investors who entered the market at lower valuations, positioning themselves in profit despite the coin’s fluctuating fortunes.
The “Break Even Price” indicator, a crucial tool derived from on-chain data, suggests that many SHIB holders are still in the green financially. This could point to a collective strategy among holders to weather short-term price movements, with an eye on potential long-term returns.

Such data reinforces the notion of SHIB as more than just a speculative asset, hinting at a deeper conviction among its community regarding the token’s future potential.
Long-Term Outlook And Ecosystem Developments
Despite a decline of 5.2% over the past week and 11.9% over the past month, Shiba Inu has seen a recent uptick of 3.3% in its price in the last 24 hours, trading at $0.00002389. BINANCE:SHIBUSDT Chart Image by Edyme">
The SHIB price is moving sideways on the 4-hour chart. Source: SHIB/USDT on TradingView
Notably, this upward trajectory in value mirrors the asset’s trading volume, which has also surged from below $400 million last week to above $600 million as of today.
This recovery aligns with significant developmental strides within the Shiba Inu ecosystem, particularly the completion of a hard fork in its Layer-2 blockchain solution, Shibarium.
The Shibarium hard fork, executed at block height 4504576, introduced enhancements aimed at improving usability and transaction efficiency. This was a response to community feedback advocating better performance and lower costs.
This upgrade is expected to boost transaction speeds and stabilize transaction fees on Shibarium, making costs more predictable for users.
Moreover, the recent hard fork’s dual focus—enhancing the Bor and Heimdall components of Shibarium—aims to refine the platform’s technical infrastructure.
1/ #Shibarium has successfully completed its hard fork at block height 4504576!Get ready for:
•Blazing-fast transactions! ⚡
•Predictable gas fees! ⛽️ pic.twitter.com/oQrtF3OMTe— Shibarium Network (@ShibariumNet) May 2, 2024
By improving the calculation of state sync confirmation and ensuring deterministic finality, the Shiba Inu team appears keen on improving the network’s reliability and scalability.
Featured image from Unsplash, Chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
#BitcoinETFs
#BlackRock
#shibabullbear $SOL

Hong Kong-based Yong Rong HK Asset Management Ltd has become the largest holder in BlackRock iShares Bitcoin ETF (IBIT), as per new data revealed by Bloomberg Intelligence analyst on Friday.
Yong Rong Asset Management Bought $38M BlackRock Bitcoin ETF
Bloomberg senior ETF analyst Eric Balchunas revealed Yong Rong Asset Management based in Hong Kong purchased $38 million of BlackRock iShares Bitcoin ETF (IBIT). The investment advisor became the largest holder of IBIT, accounting for more than 12% of reported holdings.
“Interesting given HK has own ETFs now. But US ETFs have that irresistable combo of low fee and high volume,” said Eric Balchunas.
Yong Rong Asset Management’s top four holdings are Nvidia, Meta, Tesla, and iShares Bitcoin ETF. Meanwhile, other data sources indicate the company has invested over $45 million to buy 1,127,561 IBIT units.

Bloomberg analyst also pointed out that while Yong Rong has the highest single ETF investment another Hong Kong firm Ovata bagged holdings in four spot bitcoin ETFs with total investment of $74 million. This makes the firm biggest buyer of Bitcoin ETF yet. The top three holdings of the firm are Fidelity Wise Bitcoin ETF (FBTC), GBTC, and Bitwise Bitcoin ETF (BITB).
The U.S. Spot Bitcoin ETF outflows narrowed to $34 million after Wednesday’s massive negative flows of over $550 million. Ark 21Shares Bitcoin ETF saw the largest buying on Thursday.
Also Read: Pro-XRP Lawyers Say Ripple Will Lose Motion Against US SEC
Warning From Bloomberg Analyst
In an interesting theory by James Seyffart, ETF analyst at Bloomberg, a selloff by the same Hong Kong-based investment management firm could cause major outflow from IBIT.
In addition, he speculated that Yong Rong Asset Management could migrate from BlackRock iShares Bitcoin ETF to a Hong Kong-based spot Bitcoin ETF can also cause outflow. “Potential gains taxes make this strange if true though,” he added.
BTC price recovered over $61,000 after cooling labor market and an increase in unemployment to 3.9%, higher than expected 3.8%. This indicates the Fed can still have more rate cuts this year, with FED Swaps indicating 2 rate cuts of 25 bps each.
Also Read:
Bitcoin Soars Past 61K As Job Data Indicates Dovish Stance From FedTop 5 Reasons Why Bitcoin Price Recovery Is ConfirmedKraken Subsidiary Is Major A Beneficiary Of Bitcoin ETFs In US & HK#BTC #BinanceProfitPotential

The Solana-based meme coin, Dogwifhat has caught the eyes of the investors, as the WIF price witnessed a slight recovery after witnessing a sharp decline recently. Moreover, the Dogwifhat price surged over $41 on the Bybit app shortly after the spot listing.
Meanwhile, the price of the meme coin has rebounded following a major listing announcement from a prominent crypto exchange, which seems to have sparked optimism among investors. So, let’s explore the key listing details and the recent price performance of the WIF price.
Price Regains Momentum Amid Major Listing Announcement
The meme coin sector has gained notable traction lately, attracting attention from market participants globally. Notably, the surge in interest towards the segment is evidenced by the rally in meme coin prices like WIF, MEW, BOME, and others.
Meanwhile, the surge in the prices of these cryptos suggests that the investors are diversifying their focus on other meme coins as wellapart from the major cryptos like Dogecoin, Shiba Inu, and others. Amid this, a recent major listing announcement of WIF has sparked optimism among investors, especially during the recent selloff in the broader crypto market.
Bybit, a prominent crypto exchange, has revealed plans to introduce the meme coin Dogwifhat (WIF) on its platform. According to the announcement, Bybit will list WIF on its Spot trading platform, and the deposit options commenced on April 29, at 8 AM UTC.
Meanwhile, Bybit said that it is listing the meme coin as it meets the liquidity requirements of the platform, and the withdrawals will start a day after on April 30, at 10 AM UTC. In addition, the announcement notes that the users can avail of the deposit and withdrawal options through the Solana network.
Also Read: Binance Extends Support For SOL, SHIB, XRP, ADA, Price Recovery Ahead?
WIF Price Recovery Ahead?
Usually, the announcement from these major crypto exchanges tends to bolster the market confidence, resulting in a rally for the cryptos. However, considering the recent volatility in the broader cryptocurrency market, as well as the meme coin segment, investors should exercise caution before putting their bets.
Meanwhile, despite a sharp decline in the broader crypto market, the Dogwifhat (WIF) price soared 0.93% and exchanged hands at $2.73 during writing. However, its trading volume plunged 15.17% to $243.09 million from yesterday.

WIF Price
Notably, the meme coin has witnessed a high of $2.79 and a low of $2.60 in the last 24 hours, suggesting the heightened volatile condition of the crypto.
Also Read: BONE Price Primed To Rally? Shiba Inu Executive Hints As ShibaSwap Goes Multi-Chain
#Memecoins
#Write2Earns

The crypto market has gone through volatile trading lately, with the major cryptos including the Bitcoin price witnessing a sharp decline. Notably, the investors seemed to be trading cautiously amid the macroeconomic concerns while eagerly waiting for the key economic data releases this week before putting further bets into the digital asset space.
Meanwhile, as the market participants are looking for potential reasons behind the recent crypto market selloff and Bitcoin price dip, let’s look at some potential factors triggering the event.
Reasons Behind The Recent Bitcoin Price Dip
Although there could be a flurry of reasons that might be impacting the recent dip in the Bitcoin price, the market pundits have attributed some key factors behind it. Here we explore the potential factors that might have contributed to the recent decline in the Bitcoin price.
Recent DTCC Update Dampens Market Sentiment
A recent statement from the Depository Trust & Clearing Corporation (DTCC) has rattled investors, contributing to a downturn in the Bitcoin price today. Notably, the DTCC announced its decision not to allocate collateral to exchange-traded funds (ETFs) with exposure to Bitcoin or other cryptocurrencies, signaling a cautious stance towards digital assets.
Effective April 30, 2024, the DTCC will implement changes to collateral values for certain securities, potentially impacting position values within the Collateral Monitor. It’s worth noting that ETFs or similar investment instruments featuring cryptocurrencies as underlying assets will face a 100% haircut, exacerbating concerns among cryptocurrency investors.
Meanwhile, the DTCC’s move underscores the lingering regulatory uncertainty surrounding digital assets and highlights the challenges faced by institutional players in embracing cryptocurrencies. As investors grapple with the implications of DTCC’s decision, Bitcoin prices have experienced downward pressure, reflecting the broader market sentiment influenced by regulatory developments and institutional actions.
Rate Cut Concerns Amid Gloomy Economic Data
The crypto market experienced a downturn today as investors took a cautious stance ahead of key economic data releases. Concerns mounted following dismal figures from the Bureau of Economic Analysis, with first-quarter GDP growth falling short of expectations at 1.6%.This underperformance raised fears of inflationary pressures, exacerbated by an unexpected surge in the March PCE inflation surge to 2.7%, as compared to a 2.5% jump in the prior month.
Meanwhile, investors are now anxiously awaiting the Federal Open Market Committee’s (FOMC) decision on interest rates this week, seeking clarity on the Federal Reserve’s policy intentions. Notably, the possibility of a delay in rate cuts has contributed to market instability.
Considering that all eyes are on Federal Reserve Chair Jerome Powell’s subsequent press conference for insights into the central bank’s future policy trajectory amid the current economic uncertainty.
Also Read: Cardano Whales Dominate As ADA Surpasses Dogecoin & Litecoin Volume
Bitcoin Halving Volatility
The Bitcoin price experienced a notable dip, attributed to the expected post-halving volatility. Analysts, including Rekt Capital, noted that such fluctuations are common after a Bitcoin Halving event. This volatility, which impacts investor sentiment, is a key factor influencing the current market dynamics.
However, despite short-term concerns, market experts remain optimistic about the long-term outlook following the halving. They emphasize the potential for Bitcoin’s value to appreciate over time, driven by factors such as scarcity and increasing institutional adoption.
While fluctuations may continue in the near term, many investors maintain a bullish perspective on Bitcoin’s trajectory, underscoring confidence in its resilience and future growth potential.
Bitcoin ETF Outflow Sparks Concerns
Investor sentiment took a hit recently as the U.S. Spot Bitcoin ETF experienced continued outflows over the past week. Notably, the ETF recorded outflows for three consecutive days leading up to April 26.
Meanwhile, Farside Investors reported a combined Spot BTC ETF outflux of approximately $422 million during this period, raising concerns among investors. The significant outflow signals a potential waning interest from Wall Street players in the flagship cryptocurrency.
MicroStrategy Earnings Anticipation
Investors in the cryptocurrency market are eagerly waiting for MicroStrategy’s earnings report, set to be released today after the closing bell on Wall Street. This anticipation comes amid heightened interest in the company’s financial performance, particularly due to its significant holdings in Bitcoin.
MicroStrategy, led by co-founder Michael Saylor, has been vocal about its bullish stance on Bitcoin, which has garnered attention from both crypto enthusiasts and traditional investors. The outcome of MicroStrategy’s earnings announcement is expected to provide valuable insights into the company’s financial health and its continued investment strategy in Bitcoin.
Bottom line:
Amid the declining Bitcoin price, renowned crypto trader Peter Brandt has sparked concern among investors by suggesting that Bitcoin may have peaked after reaching an all-time high of over $73,000. Brandt warns of a potential downturn, with Bitcoin’s price possibly plummeting to the mid-$30s or lower.
Notably, he bases this projection on the concept of exponential decay, indicating a significant shift in sentiment within the crypto community. This outlook has contributed to the downward pressure on Bitcoin’s price today.
Meanwhile, as of writing, the Bitcoin price traded at $62,646.53, with its one-day trading volume soaring 23.28% to $21.83 billion. Notably, the crypto has touched a high of $63,935 and a low of $61955 in the last 24 hours, reflecting the highly volatile scenario in the market.
Also Read: 10 Catalysts Traders Are Watching as Bitcoin Price and Crypto Market Falls Lower