Following the approval of Bitcoin and Ethereum exchange-traded funds (ETFs), attention has shifted towards the potential for Solana ETFs.
Indeed, the US Securities and Exchange Commission’s (SEC) progress in approving these financial products has fueled interest in other altcoins, with Solana now under the spotlight.
The idea of a Solana ETF is generating considerable discussion among industry leaders and investors. Given the popularity of altcoin ETFs as a means to diversify crypto investments, an approved Solana ETF could provide substantial benefits and increased exposure to its ecosystem.
$SOL price today has break USD$ 140 resistance. Wait for next breaking USD$ 145
Crypto funds witnessed outflows last week after recording five weeks of consecutive inflows. According to CoinShares data, digital asset funds saw $600 million in net outflows for the week ending June 14.
The outflows were concentrated in Bitcoin and Solana funds, which saw $621 million and $0.2 million exits, respectively. These outflows come amidst a corresponding drop in the price of Bitcoin throughout the week and a more hawkish-than-expected Federal Open Market Committee (FOMC) meeting held during the week.
Based on data from CoinShares International Ltd, last week around US$600 million was withdrawn from digital asset products. The largest since March 2024. Inflation that is difficult to reduce has caused traders to reduce their expectations for the Fed's interest rate cut in 2024, this is a challenge for crypto. Stocks and bonds gave better results than Bitcoin in the second quarter of 2024, so there was a turnaround from the first quarter of 2024, precisely when digital assets were significantly ahead of traditional markets.
Bitcoin prices experienced a decline or plunge of 2.7% in the crypto market. Meanwhile, the prices of second-tier crypto tokens, such as Ether, Solana and Dogecoin, also experienced bigger losses. Reporting from Bloomberg, the decline in these digital assets occurred on Tuesday (18/6/2024). The price of the Bitcoin Cs token touched its lowest level in a month, at 1:20 pm Bitcoin was trading at around US$65,740 in Singapore. This decline was caused by outflows from digital asset investment products and the prospect of higher United States (US) interest rates in the long term, weakening the crypto market.
Solana's price today is US$171.27, with a 24-hour trading volume of $4.55 B. SOL is -4.78% in the last 24 hours. It is currently -9.01% from its 7-day all-time high of $188.24, and 9.15% from its 7-day all-time low of $156.91. SOL has a circulating supply of 449.3 M SOL.
Bitcoin's market cap is close to 10% of gold, currently 8.4%. Bitcoin is currently worth $1.4 trillion compared to gold's $16 trillion market cap Bitcoin is currently worth $1.4 trillion compared to gold's $16 trillion
$RNDR The Render token price has successfully achieved a new all-time high this year, indicating a massive rise in the adoption of AI-based cryptocurrencies in the market. Moreover, this category has witnessed significant growth over the past year, highlighting a positive outlook for these altcoins in the coming time.
The Moving Average Convergence Divergence (MACD) displays a constant decline in the histogram, highlighting an increased selling pressure in the crypto industry. Moreover, the averages show a high possibility of a negative price action during the upcoming weeks.
Blockchain technology has provided a way to maintain consensus across all nodes with no central authority. However the technology faces fundamental issues like a lack of real-time transaction settlement and scalability. Despite improved consensus algorithms, Some blockchain implementations such Bitcoin or Ethereum synchronize one block at a time. This results in slow confirmation times, one of the biggest factors stopping blockchain technology from being widely used across many industries. Although Smart Contract platforms such as Cardano and EOS have started to emerge, public Distributed Ledgers are still not widely used.
To address these persistent issues, a new model based on the Directed Acyclic Graph (DAG) was developed. FANTOM is a new DAG based Smart Contract platform that intends to solve the scalability issues of existing public distributed ledger technologies. The platform intends to distinguish itself from the traditional block ledger-based storage infrastructure by attempting to employ an improved version of existing DAG-based pro-tocols. The FANTOM platform adopts a new protocol known as the “Lachesis Protocol” to maintain consensus. This protocol is intended to be integrated into the Fantom OPERA Chain. The aim is to allow applications built on top of the FANTOM OPERA Chain to enjoy instant transactions and near zero transaction costs for all users.
The mission of FANTOM is to provide compatibility between all transaction bodies around the world, and create an ecosystem which allows real-time transactions and data sharing with low cost.
According to our Fantom price prediction, FTM is forecasted to trade within a price range of $ 0.914036 and $ 3.90 next year. Fantom will increase by 244.26% and reach $ 3.90 if it reaches the higher value target for 2025.
The Fantom Foundation announced Fantom Sonic, which will be used to create a new co-sequencer for the L1 and L2 chains and the sonic's ability to process 2,000 TPS at sub-second completion represents an evolution of Opera's 200 TPS. The new network will launch in late summer/early fall this year.