🔥 The Best Time for A Solana ETF is NOW!
Let’s Dive Into It!
Happy Monday dear subscribers! In today’s Newsletter, Solana goes on an ETF trip!
In today’s bulletin, we are covering:
- Surfing the Market, with analysis about Big Caps Index and SOL
- Don’t miss the News about Germany mass selling BTC and Solana getting its ETF
- LINGO is under the spotlight.
- A short article about The Mt. Gox Affaire
- Our selection of the best Gems on X
Quite indecisive weekend, after the Saturday bounce we had another correction. But the week is starting with renewed energy. If we check into the Big Caps Index we can appreciate how the key $950 level is taking action again and pushing for a bounce from there.
Even if positive to count on such relevant support, the more times it’s tested with weaker bounces…the more dangerous it gets. This week we need to see a new higher low in order to recover the reversal structure.
SOL not giving up, continues consolidating. $160 is the level to conquer for the reversal:
German Government Continues Bitcoin Sell-Off, Draws Criticism from Officials
The German government is transferring large amounts of Bitcoin to centralized exchanges with the intent to sell, totaling nearly $28 million.
- The German government is transferring 250 bitcoins each to Bitstamp and Coinbase, totaling nearly $28 million.
- An additional 500 bitcoins were transferred to an unlabelled address.
- The government holds 38,826 bitcoins worth $2.17 billion.
- Member of the German Bundestag Joana Cotar criticized the decision to sell the bitcoins without a strategic plan.
- The price of bitcoin has dropped 3.34% following these actions, continuing a recent decline.
This move has been criticized by some officials as lacking a strategic approach.
VanEck’s Bold Move: Filing for a Solana ETF Amid Regulatory Shifts
Investment firm VanEck has filed for a Solana-based exchange-traded fund (ETF) despite skepticism about regulatory approval from the U.S. Securities and Exchange Commission (SEC), which has labeled Solana’s native token as a security in previous lawsuits.
- VanEck filed for a Solana-based ETF despite regulatory challenges.
- The SEC previously declared Solana’s token a security.
- VanEck Head of Digital Assets Research Matt Sigel cites a shifting regulatory landscape.
- Recent legislative advancements and potential SEC leadership changes support VanEck’s optimism.
- Skepticism exists due to Solana not being listed on futures ETFs.
- VanEck aims to be first in line for ETF approval, leveraging strategic positioning.
- VanEck sees Solana as roughly as decentralized as Ethereum.
- Growing demand for Solana due to its recent meteoric growth and developer interest.
VanEck believes the timing is right due to a shifting regulatory landscape and potential changes in SEC leadership.
LINGO
This week under the spotlight we have LINGO, “world’s most rewarding token”.
The project has a powerful motto to back up with facts and falls into the GameFi narrative for its system with some reaction to RWA regarding the rewards. For now it has been built in Solana, Base and Manta blockchains.
The goal of Lingo is to create an ever-growing reward ecosystem that generates real-world rewards for its community, regardless of token and market volatility. Wants to amplify value for end-users, offering a more exponential, user-friendly and rewarding experience in Web3 space.
Lingo has partnered with some Web3 projects such as Magic Eden, Travala, Sweat, Aethir or Fizen, and also with over 3000 brands including Netflix, Spotify, PlayStation, Starbucks, Nike, … for tangible redeemable rewards for active and passive participants in the ecosystem.
Users can stake or quest $LINGO tokens to potentially win the associated real-life rewards. The 2.5% platform fee on on-chain token trades, transfers and redemptions adds value to a real estate pool for yield generation where Lingo’s DAO votes for which property to acquire as company holding.
With those real estate investments the project wants to sustain the token ecosystem leveraging the yields from real estate investments to support the value of the $LINGO tokens.
Lingo raised $20M in its presale and is backed by a team of VCs, Web3 founders, and creators.
The Mt. Gox Affaire
Ten years ago, with BTC trading around $600 (incredible, right?), the largest exchange of the moment was shut down overnight. What happened, and how does it affect us today?
Let’s go back to 2010, when Jed McCaleb created Mt. Gox (Magic: The Gathering Online Exchange), a Bitcoin exchange that he later sold to Mark Karpelès.
Mt. Gox became the world’s leading exchange of that time, concentrating 70% of total BTC transactions; everything revolved around this platform.
Despite its visible success, Mt. Gox concealed security and management issues, which are crucial pillars for any exchange.
The first warning came in 2011 when a hack on the site caused a significant drop in the BTC price. But it was in February 2014 that the situation became critical and unsustainable, leading to the suspension of withdrawals.
More precisely, on February 24, 2014, the website simply disappeared, and on February 28, the crypto exchange declared bankruptcy, revealing the loss of 850,000 BTC (approx. $450M at that time) due to years of undetected irregularities.
Since then, creditors have been demanding the return of their crypto assets, but it wasn’t until 2023 that they began to see some success.
Recently, it was announced that on July 5, nearly $9B worth of bitcoin will begin to be distributed to the victims, creating selling pressure and driving the price down.
This event is a historic reparation and, on one hand, closes one of the most scandalous episodes in the ecosystem, while on the other, sets a precedent for a recovery rarely seen in other financial industries.
But, which lessons can we learn from this whole saga?
- Digital Security: success does not guarantee survival if the necessary security measures are not taken.
- Excessive Centralization: if a large part of the market is concentrated in a single platform, any problem with it will have a systemic impact on the entire ecosystem, increasing the risk of a collapse.
- Self-Custody: as everyone knows, “not your keys, not your coins.” This phrase seems like a cliché until events like the one described occur, and everyone realizes it’s true.
- Too Big to Fail: this phrase does not apply in crypto as it might in Wall Street, where in any situation, there are banks that can come to the rescue or even the Federal Reserve, as happened in 2009.
As a final reflection, I would like to highlight that the crypto world may have many flaws as it is an emerging industry (it is less than 20 years old), but there is a constant effort to improve and clean the system of harmful players, which will inevitably make it one of the largest industries in the world.
Is This Token Worth it?
How to Figure Out Whether a Crypto Token Is Worth Its Trading Price
In this episode, @ZeMariaMacedo and @AriDavidPaul discuss:
😱 How upcoming token unlocks are about to flood the market with higher supply than demand for a long while
👍👎 Whether VCs are extractive to token… x.com/i/web/status/1…
A Cycle Scheme
BTCUSD/DXY CYCLE SCHEME 🌌🌅🗝
Level 4 🕯
#Bitcoin
The Restaking Ecosystem continues to grow
The #Restaking Ecosystem continues to grow.
I will continue to research & invest in promising Restaking projects.
Drop yours here for me to research. 👇
