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$SOL 's infrastructure can easily integrate into existing flows of traditional payment institutions, bringing more institutional adoption, according to Ran Goldi, vice president of payments at Fireblocks, who wrote:

"With confidential transfers, a basic payment requirement for high-volume processors, we'll see more names adopting the blockchain into their flows. The key, as I see it, is to ensure your blockchain can support the payment requirements 'under the hood' for compliance, regulation, and privacy."

Adding a confidential transfers feature could further unlock institutional partnerships for Solana, Goldi added:

"Doing that, along with the speed and huge liquidity, [Solana] can become a sharp tool in the hands of payment institutions."

According to DefiLlama data, Solana is currently the fourth-largest blockchain network with over $4.7 billion in TVL, representing 4.49% of the total TVL across all blockchains.

A Solana #ETF next?

Beyond the increase in institutional adoption, #Solana⁩ could be the next cryptocurrency to get an exchange-traded fund #ETFsApproval according to Tristan Frizza, the founder of Zeta Markets.

Frizza wrote in a note:

"$Sol is seen as one of the 'big three' cryptocurrencies alongside $BTC and $ETH , with many analysts expecting a Solana ETF soon. With major partnerships like Visa, Stripe, Shopify Pay, and PayPal, Solana's commercial and institutional adoption is likely to grow."

Hopes for a Solana-based ETF were first sparked in January, after a trillion-dollar asset manager Franklin Templeton praised Solana for its monolithic approach to blockchain scalability, calling it a "powerful use of decentralized blockchains," according to a January 17 X post.

CNBC Fast Money cryptocurrency investor and trader Brian Kelly also speculated that Solana could be the next cryptocurrency to get an ETF in the United States.

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$SOL Solana strengthens as the choice of financial institutions with PayPal USD #PYUSD

Could Solana emerge as a leading blockchain for payments institutions? Is a Solana-based ETF next?
Solana, the fourth-largest blockchain by total value locked (TVL), is becoming a leader in institutional adoption.

More and more financial institutions will integrate with the Solana blockchain to "prepare their offerings for the future," according to Robinson Burkey, the CCO and co-founder of Wormhole Foundation.

Burkey wrote in a research note:

"Solana and institutions make sense. Industry leaders like PayPal, Stripe, and Visa need to prepare their offerings for the future. The best way to do that is to meet their most visionary users on the platforms they are adopting. We'll likely see many more institutional moments for Solana in the coming years."

The integration of PayPal USD into the Solana network marks its first move to a blockchain outside the $ETH ecosystem.

The integration will allow Solana users to conduct economic transactions using PYUSD on the network, with the goal of expanding the stablecoin's utility for everyday purchases.

In September 2023, global payments giant Visa launched its USD Coin on the Solana blockchain, the second network to support the stablecoin besides Ethereum.

Solana will receive more institutional adoption: Fireblocks, Solana is one of the most scalable blockchain networks that can handle large amounts of transactions.

Solana has a theoretical throughput of up to 65,000 transactions per second (TPS) with an average transaction cost of $0.0025, outperforming Ethereum's 15 TPS and significantly higher gas fees starting above $1 but can reach up to $50 during network congestion.

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Uniswap price analysis

Uniswap's recovery gained momentum after buyers propelled the price above the moving averages on May 20. The UNI/USDT pair fell from the overhead resistance at USD 11.81 on May 26, but if buyers do not give up much ground to bears, the probability of a breakout above USD 11.81 will increase. If this happens, the pair could reach USD 13.34 and then USD 15.

On the flip side, if the pair slips below USD 10, bulls would be booking profits. This could plunge the pair to the 20-day EMA (USD 9.05) and delay the start of the next leg of the uptrend.

Arbitrum price analysis

Arbitrum (ARB) has been attempting to clear the USD 1.27 resistance for the past few days, but bears have held their ground. However, a small positive for bulls is that they have not allowed the price to fall below the 20-day EMA (USD 1.11). This increases the possibility of a breakout. If that happens, the ARB/USDT pair is likely to pick up momentum and rise toward USD 1.60 and eventually USD 1.75.

This optimistic view will be negated in the short term if the price sharply reverses direction and plunges below USD 1.10. This could pull the price to the strong support near USD 0.90.

In summary, the technical analysis of the prices of bitcoin, Ether, Chainlink, Uniswap and Arbitrum suggests that markets may follow an uptrend if buyers can sustain higher levels. The approval of Ether ETFs could drive the price of these altcoins higher in the short term.

#uni
#ARB

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Ether price analysis

Eth spiked above USD 3,730 on May 21, and bulls have held the price above the breakout level since then. This demonstrates that bulls are trying to convert the USD 3,730 level into support.

The 20-day EMA (USD 3,452) has started to turn up, and the RSI is in the overbought territory, indicating that the path of least resistance is to the upside. Buyers will try to push the price to the USD 3,950 to 4,100 zone. Sellers are expected to fiercely defend this zone as if bulls prevail, the ETH/USDT pair could skyrocket to USD 4,868.

On the other hand, if bears sink the price below USD 3,730, it will suggest the start of a correction. The pair could drop to the 20-day EMA, which could act as a strong support level. If the price bounces from the 20-day EMA, bulls will make one more attempt to resume the uptrend.

Chainlink price analysis

Chainlink has been trading near the critical resistance level of USD 17.32 for the past three days, indicating a tussle between bulls and bears. The rising 20-day EMA (USD 15.96) and the RSI above 62 suggest that bulls are in command. There is minor resistance at USD 18.68, but if bulls clear this hurdle, the LINK/USDT pair could reach USD 20.74 and subsequently USD 22.

On the contrary, if the pair retreats and sustains below USD 17.32, the market will reject the breakout. The pair could drop to the 20-day EMA and subsequently to the 50-day SMA (USD 14.95).

#eth‬
#Link

"Ether's Impact" The game-changing push for $LINK $UNI and $ARB

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Ether could drive LINK, UNI and ARB prices higher
The U.S. Securities and Exchange Commission's (SEC) approval of Ether spot exchange-traded funds (ETFs) on May 23 failed to extend Ether's rally, which rose approximately 25% last week. However, a positive sign is that regulatory approval did not trigger a massive sell-off, indicating that ETH bulls are not rushing to exit. This suggests that traders seem to be in a wait-and-see mode.

Meanwhile, bitcoin rose to around USD 72,000 this week, but bulls could not sustain higher levels. The price fell and slid below the psychological level of USD 70,000, indicating that sideways price action may continue.

The positive movement for bitcoin and Ether this week has triggered the buying of select altcoins that appear promising in the short term. If markets respect the support levels of bitcoin and Ether, some altcoins could find buying support.

Bitcoin price analysis

Bitcoin bounced off the 20-day exponential moving average (USD 66,814) on May 24, indicating that sentiment has turned positive, and traders are buying on dips. Bulls will try to push the price to the USD 73,777 resistance. This is an important level to watch as bears are expected to defend it aggressively. If the price sharply retreats from USD 73,777 and falls below the moving averages, it will be a sign that the limited range action may continue.

On the other hand, if bulls do not give up much ground from USD 73,777, it will improve the prospects of an upside move. The BTC/USDT pair could attempt to rise to US" 80,000 and then to USD 84,000.

Buyers have pushed the price above the downtrend line, but are struggling to sustain higher levels. This suggests that bears have not given up and are selling on rallies. If the price slips below the downtrend line, it could initiate a decline to USD 66,000 and then to USD 64,600.

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"Trump liquidates profits from his NFTs and sells $2.4 million of ETH"

The former president of the United States made an important turn in the world of cryptocurrencies, especially with the sale of ETH.

Former US President Donal Trump made headlines again this time with his notable moves that created a lot of buzz in the cryptocurrency world, especially in relation to Ethereum (ETH). Trump transferred 1,075 ETH worth about $2.4 million to Coinbase over the past three weeks, according to the on-chain analytics platform.

The move contrasts with its previous ETH raising, which came from profits from non-fungible tokens (NFTs) associated with its brand. It should be noted that Trump has ventured into the NFT space with three collections at the time of writing; The first two were in high demand and sold out quickly, while the third was of less interest to the crypto community.

In this scenario, Trump's NFT collections generated a lot of trading in the market, raising 15,013 ETH (around $35.4 million) on the OpenSea NFT marketplace. Additionally, digital cards generated $119,100 in transaction volume during a given week in December. A few hours ago it was learned that Trump unveiled a second series of digital trading cards that will offer his fans the possibility of receiving exclusive benefits, such as having dinner with the former president or buying clothes related to iconic events from his past.

The truth is that specialized media reported a significant increase in activity on the Ethereum network, especially withdrawals from centralized exchanges during this week. And it is worth saying that this "tremor" indicates a changing dynamic in the cryptocurrency market, where important players such as Donald Trump are actively participating in important transactions in the Ethereum and NFT markets.
$ETH #TrumpNFT #crypto2023 #blockchain #Ethereum #cryptonews

Polygon Gas Fees Soar for Ordinal-Inspired Token:

In The middle of the excitement of minting an Ordinals-inspired token called POLS, gas prices on the Polygon network hit as high as $0.10. They soared more than 1,000% to a high of $0.10 as users flooded the network to mint tokens inspired by Bitcoin's atomic number.

The token is called POLS. A post about Polygon-based (NFTs) published on November 16. The reason for the sudden increase in network activity and the sudden increase in gas prices seems to be mainly due to the great excitement surrounding the minting of new POLS tokens. Data from Dune Analytics shows that active POLS minting activity coincided with the use of over 102 million MATIC tokens (worth approximately $86 million at current prices) to pay gas bills.

The POLS token is based on a protocol called PRC-20 and works similarly to the BRC-20 token standard, which is derived from Bitcoin ordinal. According to virtual machine data provider Ethereum EVM, only 8.7% of the total POLS supply has been minted, with just over 18,100 holders claiming their tokens. At the time of writing, the price of gasoline on Polygon has returned to normal levels and stands at approximately 882 Gwei. Gas price quantifies the amount of computation required to complete a transaction on a particular blockchain, where 1 Gwei is approximately equivalent to 0.000000001 MATIC.

The Bitcoin network saw a similar, albeit longer-term, surge in activity in May of this year following the launch of the Ordinals protocol, which allows users to mint NFTs directly on the Bitcoin blockchain. As a result, the hype surrounding NFT ordinals and BRC-20 tokens has driven Bitcoin fees to levels not seen since April 2021.

#Matic #Polygon #Bitcoin #btc #NFT $MATIC $BTC

"Lawmakers in the US Congress ask the tax administration to repeal the SEC's SAB 121"

The lawmakers said in the memo that federal banks should not require financial institutions that provide custody services for digital assets to hold capital on them. US Congressional Lawmakers Call on Tax Administration to Repeal SECNOTICIAS SAB 121 Several members of the US Congress are taking steps and guidance to direct key financial authorities, including the Chairman of the Federal Tax Board Deposit Insurance and the current Comptroller of the Currency to clarify the safety of U.S. securities and U.S. securities.

I have submitted a memorandum requesting for this. Due to a recent decision by the Government Accountability Office (GAO), the Securities and Exchange Commission's (SEC) Statement of Accountability 121 (SAB 121) is no longer applicable. In the memo, lawmakers said SAB 121 has no legal effect and requires federal banking authorities and the National Credit Union Administration to force banks, credit unions and other financial institutions they serve to comply with escrow. of digital assets. You shouldn't ask for it.

SAB 121 stipulates that crypto assets of bank customers must be listed on the bank's balance sheet, reflecting the value of the assets and requiring capital to be held against them. Industry representatives and several US lawmakers say this threatens the willingness of regulated banks to act as custodians of crypto assets and treats digital currency holdings differently from other assets. Based on the senators' letter, the GAO determined that the SEC's SAB 121 should be subject to congressional review. Cynthia Lummis will become Comptroller General of the United States in August 2022. The evaluation focused on whether the bulletin was enforceable as a rule under the Congressional Review Act. Under the law, agency rules must be reported to the Comptroller General and both houses of Congress, and there is a mechanism for Congress to veto them.

#btc #Ethereum? #CryptoTalks #US #cryptoday

*BlackRock made its Ethereum ETF application official with the SEC*

#BlackRock, the world's largest asset manager, has officially filed for a spot Ether exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC) on November 15.

The ETF, named iShares Ethereum Trust, aims to "reflect generally the performance of the price of Ether". This move comes after BlackRock registered the iShares Ethereum Trust with Delaware's Division of Corporations and filed its spot Bitcoin ETF application six months ago.

The SEC's decision on BlackRock's ETF applications, including the one for Bitcoin, is still pending. The news of BlackRock's officialization of the ETF for Ethereum caused a temporary increase in the price of ETH, rising by 2.3%.

The SEC's acceptance of BlackRock's Bitcoin ETF application was reported in July 2023. Nasdaq also refiled an application with the SEC to list an ETF by BlackRock that reflects the price of Bitcoin. The SEC has delayed making a decision on all spot Bitcoin ETF applications, including those from BlackRock, until October. The SEC's decision on these ETF applications is still pending.

#blackrock #SEC #Ethereum2.0 #ETF #btc $BTC $ETH