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Top news this week
Bitcoin ETF issuer VanEck has applied for Solana ETF in the United States.
VanEck has filed with the U.S. Securities and Exchange Commission for a Solana (SOL) exchange-traded fund (ETF), making it the first of its kind on Wall Street. The VanEck Solana Trust aims to reflect the performance of SOL tokens, net of operating expenses. If approved, the ETF would be listed on the Cboe BZX exchange. In a social media post, Matthew Sigel, VanEck’s head of digital asset research, noted Solana’s decentralized nature, comparing SOL to other digital commodities like Bitcoin and Ether.
Ethereum supply has been inflated for 73 consecutive days.
Ethereum’s supply has increased for 73 consecutive days, with over 112,000 ETH added since mid-April. This is the longest inflation streak since the 2022 merger. The recent Dencun upgrade, which aims to reduce transaction costs on Ethereum’s layer 2 network, has also significantly reduced the amount of ETH burned on the mainnet. Despite this period of inflation, the total supply of Ethereum has decreased by 345,000 ETH since the merger.
Satoshi-era Bitcoin wallet wakes up after 14 years and sends 50 BTC to Binance
A Satoshi-era Bitcoin wallet that had been dormant since 2010 transferred 50 BTC to Binance. Wallets linked to miners who earned Bitcoin as rewards when BTC was worth $0.05 have now seen their value rise to millions of dollars. Cryptocurrencies moving to centralized exchanges are often seen as a bearish signal. This is because in most cases the use of centralized exchanges is linked to the sale of assets.
Lawyers warned that crypto payments could be banned due to UAE regulations
The Central Bank of the United Arab Emirates is considering new regulations that would require payment tokens to be backed by the UAE dirham and prohibit the use of cryptocurrencies to pay for goods and services. Blockchain lawyer Irina Heber added that these regulations could effectively ban cryptocurrency payments in the country, and that these regulations could mean a shift towards a less favorable stance for cryptocurrencies.
Bitcoin social sentiment decline could signal market bottom
The recent bear market turmoil has dampened previously bullish rhetoric and enthusiasm surrounding the price of Bitcoin, which could signal a potential market bottom. Bullish Bitcoin talk on social media platforms such as X, Reddit, Telegram, 4chan, and BitcoinTalk has decreased significantly over the past few weeks, according to data from cryptocurrency analytics firm Santiment.
Winners and Losers
Bitcoin this weekend (Bitcoin) It’s in $60,994ether (ETH) In ~ $3,419 and XRP In ~ $0.47. Total market capitalization is $2.27 According to CoinMarketCap, it is worth around $1 trillion.
Among the top 100 cryptocurrencies, the top 3 altcoins that rose the most this week are Akash Network. (AKT) 23.04%, Caspar (what) 22.14% and Brett (baseline) (Brett) 14.60%
This week’s top 3 altcoin losers are Ethena. (this) -13.03%, Gnosis (GNO) -11.65% and Pendle (Pendle) -11.45%.
For more information on cryptocurrency prices, read Cointelegraph’s market analysis.
most memorable quotes
“What we’re seeing now is potentially the first presidential debate where cryptocurrencies come up as a question.”
Diogo MonicaCo-founder and President of Anchorage Digital
“When we talk about the open web, one of the biggest concerns we have right now is that without a trustworthy and irreversibly open environment for AI development, the open web may never happen.”
Chris DonovanNear Foundation Chief Operating Officer
“Financial regulators have used a number of tools to cripple the digital asset industry. (…) This is not the way to regulate.”
Paul GrewalChief Legal Officer at Coinbase
“I think the ETH ETP will be a huge success. At least, that’s what the data says.”
Matt HoganBitwise Chief Investment Officer
“We have a pretty clear set of rules. There are no inconsistencies in cryptocurrency securities and securities law.”
Gary GenslerChairman of the U.S. Securities and Exchange Commission
“We are entering an automated world where AI will create enormous amounts of wealth, and Bitcoin will protect that wealth.”
Anthony PomplianoFounder of Pomp Investments
Predictions for this week
Bitcoin Ready to Break Through as BTC Price Targets ‘$90K+’ — New Analysis
Bitcoin is preparing for a new BTC price breakout, two classic indicators suggest. In a recent analysis on X, popular pseudonymous trader Roman said that a bullish case for BTC/USD is being made.
He predicted a further push higher as the next logical step in BTC price action, plotting the Relative Strength Index (RSI) and Bollinger Bands on the weekly chart.
“While many are capitulating and calling for lower prices, we are forming a third bullish divergence between current prices and RSI,” he wrote on June 21. “The Bollinger Bands are also tightening, creating volatility that can be sent without return.”
In a follow-up post, Roman suggested that the target of such an upward move could be entering new all-time high territory. “You all should pay attention to this week’s closing price,” he told X subscribers. “We are forming more bullish signs of continuation for HTF. Once volatility builds, we can finally send it all the way to 90,000+.”
FUD of the week
US State Department Offers $5 Million Reward to OneCoin ‘Cryptoqueen’
The U.S. State Department has increased the reward for information leading to the arrest and conviction of OneCoin founder Ruja Ignatova to $5 million. Ignatova, known as the “Crypto Queen,” was last seen in Athens in 2017 and is wanted on charges of fraud and money laundering. Despite being added to the FBI’s wanted list and a smaller reward previously offered for information leading to her whereabouts, she remains at large.
Mark Cuban claims his Gmail was hacked after receiving a scam call.
Billionaire investor Mark Cuban’s Gmail was hacked after he received a scam call from someone claiming to be from Google. The caller tricked Kuban into revealing personal information, which led to his email being compromised. Cuban warned his followers on social media about the hack. The billionaire lost $870,000 from his cryptocurrency wallet due to his previous hack.
Heavy metal band Metallica’s official The scam, which promised free crypto tokens, targeted Metallica fans by sharing malicious links. The hack occurred while the band is currently on a world tour promoting their 2023 album. Season 72.
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editorial staff
Writers and journalists from Cointelegraph Magazine contributed to this article.