Hodler’s Digest, June 23-29 – Cointelegraph Magazine

High Tales This Week

Bitcoin ETF issuer VanEck recordsdata for Solana ETF within the US

VanEck has filed for a Solana (SOL) exchange-traded fund (ETF) with the U.S. Securities and Change Fee, marking the primary such submitting on Wall Avenue. The VanEck Solana Belief goals to mirror the efficiency of the SOL token, excluding operational bills. If authorized, the ETF will likely be listed on the Cboe BZX Change. VanEck’s head of digital belongings analysis, Matthew Sigel, cited Solana’s decentralized nature in a social media submit, evaluating SOL to different digital commodities like Bitcoin and Ether.

Ethereum’s provide has been inflating for 73 days straight

Ether’s provide has been growing for 73 days in a row, with over 112,000 ETH added since mid-April. That is the longest inflationary streak because the Merge in 2022. The current Dencun improve, which aimed to cut back transaction prices on Ethereum’s layer-2 networks, additionally considerably decreased the quantity of ETH burned on the mainnet. Regardless of this inflationary interval, Ether’s general provide has decreased by 345,000 ETH because the Merge.

Satoshi period Bitcoin pockets wakes up after 14 years, sends 50 BTC to Binance

A Bitcoin pockets from the Satoshi period, dormant since 2010, has transferred 50 BTC to Binance. The pockets, linked to a miner who earned the Bitcoin as a reward when BTC was value $0.05, has now seen its worth rise to thousands and thousands. The motion of crypto to centralized exchanges is commonly seen as a bearish signal, as more often than not, using centralized exchanges is linked with promoting belongings.

UAE rules could result in crypto fee ban, warns lawyer

The United Arab Emirates central financial institution is contemplating new rules that might require fee tokens to be backed by UAE dirhams and prohibit utilizing cryptocurrencies for items and providers funds. These guidelines might successfully ban crypto funds inside the nation, blockchain lawyer Irina Heaver warned, including that such rules could sign a shift towards a much less favorable stance on crypto.

Bitcoin social sentiment decline could sign market backside

The current bearish market turmoil has dampened the beforehand excessive ranges of bullish remarks and euphoria surrounding Bitcoin’s value, which might point out a possible market backside. Information from crypto analytics agency Santiment reveals that bullish Bitcoin remarks throughout social media platforms corresponding to X, Reddit, Telegram, 4chan and BitcoinTalk have dropped considerably over the previous few weeks.

Winners and Losers

On the finish of the week, Bitcoin (BTC) is at $60,994, Ether (ETH) at $3,419 and XRP at $0.47. The whole market cap is at $2.27 trillion, in accordance with CoinMarketCap.

Among the many largest 100 cryptocurrencies, the highest three altcoin gainers of the week are Akash Community (AKT) at 23.04%, Kaspa (KAS) at 22.14% and Brett (Based mostly) (BRETT) at 14.60%. 

The highest three altcoin losers of the week are Ethena (ENA) at -13.03%, Gnosis (GNO) at -11.65% and Pendle (PENDLE) at -11.45%.

For more information on crypto costs, ensure that to learn Cointelegraph’s market evaluation.

Most Memorable Quotations

“What we’re seeing proper now could be, doubtlessly, the primary presidential debate the place crypto comes up as a query.”

Diogo Mónica, co-founder and president of Anchorage Digital

“Our nice concern proper now when speaking in regards to the open net is that if we don’t have a reputable, irrevocably open setting for AI growth, then the open net could by no means come to fruition.”

Chris Donovan, chief working officer of Close to Basis

“Monetary regulators have used a number of instruments at their disposal to attempt to cripple the digital-asset trade. […] That is no strategy to regulate.”

Paul Grewal, chief authorized officer at Coinbase

“I believe ETH ETPs are going to be an enormous success. A minimum of, that’s what the info tells me.”

Matt Hougan, chief funding officer at Bitwise

“Now we have a algorithm which can be fairly clear. There’s nothing inconsistent about crypto securities and the securities legal guidelines.”

Gary Gensler, chairman of the U.S. Securities and Change Fee

“We’re going into this automated world the place AI goes to create monumental quantities of wealth, and Bitcoin goes to guard that wealth.”

Anthony Pompliano, founding father of Pomp Investments

Prediction of the week

Bitcoin prepping breakout with ‘$90K+’ BTC value goal — New evaluation

Bitcoin is getting ready excellent situations for a contemporary BTC value breakout, two traditional indicators counsel. In a current evaluation on X, fashionable pseudonymous dealer Roman revealed a bullish continuation case within the making for BTC/USD.

Flagging the relative energy index (RSI) and Bollinger Bands on the weekly chart, he foresaw a squeeze greater as the subsequent logical step for BTC value motion.

“We are actually forming a third bullish divergence between Value and RSI whereas many are capitulating & calling for decrease,” he wrote on June 21. “Bollinger Bands are additionally squeezing tighter – creating that volatility to ship with out returning.”

In a subsequent submit, Roman urged that the goal of such an upside transfer could possibly be nicely into new all-time excessive territory. “You all must be taking note of this 1W shut,” he informed X subscribers. “We’re forming extra bullish continuation indications on HTF. As soon as volatility is constructed we will lastly full ship to 90k+.”

FUD of the Week

US State Dept provides $5M reward for OneCoin ’Cryptoqueen’

The U.S. Division of State has elevated the reward for info resulting in the arrest and conviction of OneCoin founder Ruja Ignatova to $5 million. Ignatova, generally known as the “Cryptoqueen,” was final seen in Athens in 2017 and is needed for fraud and cash laundering. Regardless of being added to the FBI’s most-wanted record and former smaller rewards being supplied for info pertaining to her whereabouts, she stays at massive.

Mark Cuban claims his Gmail was hacked after receiving hoax name

Billionaire investor Mark Cuban’s Gmail was hacked after he acquired a hoax name from somebody claiming to be from Google. The caller tricked Cuban into revealing private info, resulting in the compromise of his electronic mail. Cuban warned his followers on social media in regards to the hack. The billionaire misplaced $870,000 from his crypto pockets in a earlier hack.

The official X account for heavy steel band Metallica was hacked, with the exploiters utilizing the breach to advertise a Solana token with the ticker METAL. The rip-off, promising free crypto tokens, focused Metallica followers by sharing malicious hyperlinks. The hack occurred whereas the band is presently out on a world tour selling their 2023 album, 72 Seasons.

High Journal Items of the Week

As Ethereum phishing will get tougher, drainers transfer to TON and Bitcoin

Telegram’s TON is rising as the most well liked blockchain of the summer season and cryptocurrency drainers are taking discover.

El Salvador’s nationwide Bitcoin chief has been orange-pilling Argentina

The pinnacle of El Salvador’s new crypto fee began his Bitcoin journey in 2013 and is continuous it to today.

Crypto sport rewards not ‘essential,’ Farmville creator makes case for beta releases: Web3 Gamer

Farmville creator Amitt Mahajan is an enormous fan of constructing video games in public. In the meantime gaming advertising and marketing guru Sam Saliba argues that crypto rewards aren’t important to blockchain gaming.

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Cointelegraph Journal writers and reporters contributed to this text.