📊 Grayscale Seeks to Convert Fund With Solana, XRP and Avalanche Into ETF
Grayscale Investments wants to convert its current Digital Large Cap Fund—which includes Bitcoin (#BTC ), Ethereum (#ETH ), Solana (#SOL ), XRP, and Avalanche (#AVAX )—into an exchange-traded fund (#ETF ).
The New York Stock Exchange made the request to the U.S. Securities and Exchange Commission (SEC) on behalf of Grayscale, The Wall Street Journal reported, filing the 19b-4 form requesting permission to convert the fund.
Grayscale previously converted its Bitcoin Trust and Ethereum Trust into spot ETFs earlier this year following SEC approval of each respective product in the U.S.
**News Flash: Trump Family's Crypto Project Faces Rocky Start**
The Trump family's new crypto venture, World Liberty Financial (WLFI), has had a bumpy debut. Launched on October 15, the token sale aimed to raise $300 million but has only sold 3.4% of its goal, totaling around $10.3 million.
- **Website Woes**: The platform's website crashed shortly after the sale began, causing significant downtime.
- **Low Participation**: Only 6,832 unique wallets hold WLFI, far below the 100,000 signups touted pre-launch.
- **Token Details**: WLFI tokens are priced at 1.5 cents each, with a total supply of 100 billion tokens. 35% are designated for public sale.
- **Leadership**: Donald Trump and his sons are heavily involved, with Trump himself promoting the project on social media.
- **Investor Restrictions**: In the U.S., only accredited investors can purchase WLFI tokens.
- **Future Plans**: The platform aims to operate as a DeFi protocol on Ethereum, similar to Aave.
Stay tuned for updates as this high-profile project unfolds.
📈💵 Ministry of Finance: Reducing Debt Through Market Strategies and Economic Growth 💹 📈
In a recent press conference, the Ministry of Finance emphasized its commitment to reducing national debt through a series of fiscal measures. The approach outlined goes beyond issuing 50-year treasury bonds—the ministry highlighted that a comprehensive strategy is necessary to address the mounting financial pressures faced by local governments.
A Fine Line Between Debt Reduction and Inflation
One of the most direct, albeit risky, tools for reducing debt would be printing money. However, the potential for hyperinflation raises concerns about social stability. To avoid such risks, the ministry proposed leveraging the stock market as a capital reservoir. A booming stock market can absorb more capital, creating greater room for liquidity and debt repayment while allowing for a more controlled issuance of currency.
Local Government Debt: An Urgent Challenge
Many local governments are struggling under mounting debt, exacerbated by shrinking fiscal revenues and slower economic growth. As these governments face increasing financial pressure, the Ministry of Finance’s efforts to inject liquidity into the stock market become critical.
The Stock Market: A Strategic Buffer
This strategy is not just about pushing the stock market to surge. Instead, the aim is to channel idle funds from off-market sources into the stock market, creating a capital buffer. A robust stock market will not only attract more investors but also boost investor confidence, accelerating capital inflows and providing much-needed liquidity.
Long-Term Impact: Broader Financing Channels and Economic Growth
A strong stock market offers more than just a short-term boost—it also provides new financing channels for local governments. By issuing stocks and securitizing assets, governments can diversify their sources of fiscal revenue, promoting sustainable economic growth and addressing their debt burdens more effectively.
#MemeCoinTrending
#BTCBreaks66K #GrayscaleConsiders35Cryptos #BNSOL
💸 $DOT Polkadot has cut its marketing expenses following negative community feedback and reported an increase in profit.
In Q2, Polkadot earned only $250,000 while spending $80,000,000. In Q3, their expenses dropped threefold to $27,300,000.
{future}(DOTUSDT)
📊 Technical Analysis Update: $SUI
{spot}(SUIUSDT)
/USDT
Current Price: $2.0124
24-Hr Change: -9.63%
SUI is currently trading in a tight range, showing a potential for volatility ahead. Here’s what to watch:
Key Targets 🎯:
1️⃣ Target 1: $2.11
This aligns with the MA(7), a potential resistance level. Breaking this may signal short-term bullish momentum.
2️⃣ Target 2: $2.27
Close to the 24h High, this is a key area for traders watching a stronger trend. A push past this level could open up a pathway to higher gains.
3️⃣ Target 3: $2.39
This is a notable level, marking the upper end of recent price action. Breaking this may confirm a trend reversal with increased momentum for SUI.
With volumes around 384.07M USDT and volatility at play, traders should keep an eye on these levels. Are we in for a breakout? Let's see how the day unfolds!
Crypto: The Wild West of Investing 🤠
Investing in crypto is like riding a rollercoaster. 🎢 It's exciting, but it can also be scary and unpredictable.
Here are some reasons why crypto is harder than other investments: 💻😤
⛔ No regulations: There are fewer rules and regulations in the crypto market, which can make it more vulnerable to manipulation. 🤡
⛔ Whales and #FUD : Big players can easily move the market with their actions, and fake news can spread like wildfire. 💦
⛔ Mixed crowd: There are a lot of inexperienced investors in the crypto market, which can lead to irrational behavior. 🤖
So, what should you do? 😎💪
✅ Do your research. Don't invest in something you don't understand. 📚
✅ Diversify your portfolio. Don't put all your eggs in one basket. 🌈
✅ Manage your risk. Don't invest more than you can afford to lose. ⚠️
And most importantly, have fun! 😅 Crypto investing can be exciting, but it's also important to stay calm and level-headed. 🙏#Bitcoin #BTC $BTC $ETH
$CTC has demonstrated impressive resilience amid Bitcoin's volatility, holding steady at $0.30. If the upward momentum persists, the next target could be $0.81. However, it's crucial to keep an eye on critical support at $0.24, especially with $QNT expected to lead the charge.
In earlier instances, we've recorded a 520% gain.
$REEF/USDT Perpetual Contract: Technical Analysis 🎯
REEF/USDT has shown notable price movement recently, catching the attention of traders. With a current price of $0.002553, down by 68.02%, let’s dive into key levels to watch.
Target Levels 🎯
1. First Target: $0.004906
This is a significant level as it aligns closely with MA(7) at 0.004531. Breaking past this could indicate short-term bullish momentum. Look for a potential push to this target if buying volume increases.
2. Second Target: $0.006924
This is near MA(25), serving as a crucial mid-term resistance. Hitting this target could suggest a shift toward a more stable uptrend, with this level acting as a critical test for sustained upward movement.
3. Third Target: $0.008245
As the 24h high, this target represents a strong resistance level. Reaching here would signal a solid recovery for REEF. However, a breakout above this could indicate an entry into bullish territory, making it a key point for those looking at longer-term gains.
Indicators in Focus 🔍
REEF’s current performance shows high trading volume, with 24h Volume at 502.87B REEF and 2.09B USDT. Indicators such as the EMA, Bollinger Bands, and MACD are signaling potential volatility ahead. Watch for a bullish cross in MACD and SAR positioning for more confirmation on potential upward momentum.
Stay tuned for updates on these levels and adjust your strategy as REEF approaches each target! 📉📈
When top players in crypto showcase their portfolios, many wonder, "What are they doing that I'm not?"
It's all about seizing opportunities in emerging projects!
We're witnessing a pivotal moment in DeFi for @suinetwork.
Sui has recently crossed $1B in TVL, native USDC is now available on Sui, and DEEP is the liquidity layer.
The DEEP token is up 75% since it launched yesterday! This surge highlights the success @suinetwork has had had to date.
Diversifying your portfolio to include DEEP can enhance your risk-adjusted returns while providing exposure to a revolutionary platform:
> Seamless trading experiences powered by $DEEP converting user input tokens for fees.
> Staking $DEEP grants market makers fee discounts and potential price appreciation through its unique burning mechanism.
> With over $2B in capital already flowing through the Sui ecosystem, DeepBook is positioned to capture the next wave of DeFi innovation.
The crypto landscape is vast, and missing out on emerging technologies like DeepBook could mean missing the next big breakout.
✍️ Conclusion
Think of integrating $DEEP into your strategy not as an added risk, but as a way to bolster your portfolio with cutting-edge technology.
Embrace the opportunities that decentralized finance offers and elevate your investment game!
Join the movement with DeepBook at deepbook[.]tech and follow @DeepBookonSui for all the latest updates!