DeFi

A Solana ETF is coming – can a DeFi summer be near?

Published

7 months ago

24 June, 2024

A Solana ETF is coming – can a DeFi summer be near?

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This week we covered some industry-changing updates. From a groundbreaking ETF launch to potential price reversals to a serious hacking issue between an exchange and a security firm, there’s a lot to digest. Let’s take a look at what happened in crypto this week and explore how these events are shaping our space.

Canadian investment fund manager 3iQ Digital Asset Management has filed an application for North America’s first Solana exchange-traded product (ETP), the Solana Fund (QSOL), to list on the Toronto Stock Exchange. This innovative product aims to provide investors with exposure to Solana’s digital currency, SOL, offering daily price movements, long-term capital appreciation and staking yield. This product could open up more diversified investment options and invite more institutional participation in the crypto space.

On the macro side of the market, Bitcoin’s June downtrend could face a potential reversal according to Rekt Capital. A breakout of the current downtrend could trigger a price reversal, potentially stabilizing the market. However, this reversal would be local, keeping Bitcoin in a range between $60,600 and $71,500. This outlook comes at a crucial time when market sentiment is a mix of cautious optimism and anticipation.

On top of this mix-up, the crypto community has been shaken by what happened between Kraken and CertiK. Both have given their version of the facts, and the allegedly stolen amounts have now been recovered (or returned). The questions remain: is this really resolved now? Has this incident just opened a can of worms that many in the crypto security industry are either unwilling to talk about or conveniently unaware of? While the exploits are numerous, it is important to remember this adage: trust nothing, verify everything.

First Solana ETF in North America set to launch on Toronto Stock Exchange
Bitcoin Downtrend in June Risks Potential Reversal
Kraken claims he was ‘extorted’ as white hat hacker demands reward after $3 million theft

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Bitcoin

– 1.3%

– 3.2%

Ethereum

0.2%

1.4%

– 1.1%

– 2.9%

– 1.6%

– 8.7%

Challenge

– 0.6%

– 2.3%

Fear and Greed Index

Greed (60)

Greed (74)

Data powered by CoinGecko.

First Solana ETF in North America set to launch on Toronto Stock Exchange

The launch of the first Solana ETF in North America represents a significant milestone for the crypto industry, particularly the Solana ecosystem. It provides a regulated investment vehicle for individual and institutional investors to gain exposure to SOL, potentially increasing liquidity and widespread adoption of the cryptocurrency.

This development offers a new way to invest in Solana without the complexities of directly owning and managing the digital asset. It also signals growing institutional interest in Solana, which could lead to increased stability and long-term growth for the network. As more traditional financial products emerge for crypto, this could pave the way for broader acceptance and integration of digital assets into traditional finance. [cryptobriefing]

Bitcoin Downtrend in June Risks Potential Reversal

Despite trending downward throughout June, Bitcoin could be poised for a price reversal. This is crucial for the crypto market, as it could signal a change in market sentiment and potentially lead to a new phase of growth. Even though the reversal would be local, keeping Bitcoin within a specific range, it could bring much-needed stability and confidence to investors.

Onchain data from Bitfinex indicates that Bitcoin is under pressure from various investor groups, including whales and miners. This has led to increased flows of BTC to exchanges, a trend that usually precedes a price decline. Miners sold their reserves, thus increasing the selling pressure. [cryptobriefing]

Kraken claims he was ‘extorted’ as white hat hacker demands reward after $3 million theft

The incident involving Kraken and CertiK reveals the complex relationship between crypto exchanges and security firms that wish to identify themselves as “white hat” hackers. This situation also makes us realize that our industry needs clearer protocols for responsibly disclosing vulnerability reports.

Kraken CSO Nick Percoco criticized the act as extortion rather than ethical hacking. Despite the controversy, Kraken reassured users that no customer funds were affected. CertiK, the security company behind the hack, claimed its actions were part of a white hat operation, but the situation has sparked a heated debate over the ethical limits of crypto security, as well as the associated risks to centralized exchanges. [cryptobriefing]

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Tokens unlocked next week

The ENA release is expected to be worth $9 million, which would result in a supply increase of 0.9%, with a market capitalization of $1 billion.

AGIX plans to raise $6 million, which translates to a supply increase of 0.7%, as well as a market capitalization of $847 million.

ALT has an upcoming release of $20 million, which will result in a 6.9% supply increase. ALT has a market capitalization of $296 million.

YGG’s upcoming release of $11 million will increase supply by 4.5%, with a market cap of $239 million.

ID plans to raise $35 million, which translates to an 18.2% supply increase, as well as a market cap of $195 million.

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DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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