At 9 o'clock this morning, the current US President Biden and former US President Trump began the debate on CNN about the US presidential election. The debate between the two sides was still very intense. So far, there has not been much mention of the crypto industry. The support of both sides for the crypto industry is actually mainly to win the votes of young people. At present, Trump's voice is relatively high, and the crypto industry is still continuously donating to Trump, so Trump's coming to power will definitely be a big boon to the crypto circle.
Matthew Sigel, head of digital asset research at VanEck, said that he had applied to the U.S. Securities and Exchange Commission (SEC) for a Solana ETF. The new fund, named VanEck Solana Trust, is the first Solana ETF to be applied for in the United States. This news directly ignited yesterday's SOL and related ecosystems, and a general rise in the market appeared. This application is just a stepping stone. The SEC's current attitude towards SOL is still relatively tough, identifying it as a security. It should be a long way to go before it can be implemented. If this year is called the ETF bull market, then the coins joining the ETF are independent bull markets.
PENDLE, the recent DEFI project in the re-staking sector and the current unicorn in this sector, has been affected by EIGENLAYER's upcoming points airdrop. Its TVL and revenue have plummeted, with TVL falling by 30%. The PT (cost) and YT (future revenue) of almost all pools have dropped significantly, which has also affected the price of PENDLE in the short term. It can be said that the listing of eigenlayer should have almost fulfilled all the current positive expectations for Ethereum re-staking, and the rest is left to the market.
On-chain data shows that once LTH begins to enter the accumulation phase and STH decreases, the market will enter a certain degree of garbage time until STH (short-term holders) resume buying again to drive the next wave of price increases. In fact, it is a swap of demand and supply, so please wait patiently for the handover to be completed.
The delivery of quarterly options will be completed at 16:00 today, and the exchange's quarterly contracts will also be delivered. This option delivery is the largest in history. A total of more than 9 billion US dollars of options will be delivered for both the big cake and the second cake. A big stone is about to fall to the ground.
Bitcoin is still in a volatile trend. Driven by SOL yesterday, it was still suppressed near 62,500. Therefore, there is definitely no reversal. It is still in a downward trend if it cannot stand above 64,000. On the contrary, sideways trading is a good thing, which shows that the panic caused by Mentougou has not spread. After the supply of Mentougou is released, all the mountains will be removed, and then it will be the time for the bulls to counterattack.
Second, just wait for the ETF to be launched and see how Grayscale will come up with it. Maybe we will know the result next week.
The copycats are also affected by SOL, and the SOL ecosystem has the highest growth rate. However, because the rise is driven by news, it is likely to go back the same way. In the case of a sluggish market, it is reasonable to buy low and build positions in the leaders of the previous strong sectors, such as RWA, AI, and SOL ecosystem. I think it is enough to keep 30% of the position now. The premise is that the cost of holding the position should not be too high.
Bitcoin Fear and Greed Index: 47 (Neutral)
More latest information, market trends, spot, contracts, main business#VanEck提交首个SolanaETF #以太坊ETF批准预期 #PEOPLEUSDT $SOL $PEOPLE
