“We believe the native token, SOL, functions similarly to other digital commodities such as bitcoin and ETH,” VanEck’s head of digital assets research, Matthew Sigel, wrote in a post on X arguing that SOL is a commodity, not a security. “It is utilized to pay for transaction fees and computational services on the blockchain,” he wrote. Source
Bitcoin transaction fees have stayed below $7 since Jun. 9, 2024, and have fallen under $3 in the last five days. Even with this decrease in fees, over 200,000 unconfirmed transactions have persisted in the backlog, as the queue has not come close to clearing since October 2023. Bitcoin’s Fee Market Struggles to Match Network’s […] Original
Amidst waves of concern surrounding the sale of Bitcoin by the US and German governments, industry experts have come forward to dispel fears, suggesting that these moves could be bullish for the market. Yesterday, the Bitcoin sector experienced heightened volatility following actions by two major governments. The German Federal Criminal Police (BKA) continued with its sales of Bitcoin, reducing its holdings from 50,000 BTC to 45,264 BTC. Concurrently, the US government transferred 4,000 BTC to Coinbase, likely aiming for liquidation, retaining a substantial 213,546 BTC in its reserves. Why This…
The U.S. presidential election could provide a breakthrough for additional crypto ETFs like SOL, per the research note shared with CoinDesk. If Trump becomes president again, he could shake up the established playbook for launching crypto ETFs, which usually takes years and starts with the introduction of federally regulated futures contracts – something solana lacks. Source
The bank said by looking at the negative price action in crypto markets since May 29th, it is “fair to assume that some of Gemini creditors, which are mostly retail customers, have taken at least partial profit in recent weeks.” Gemini announced on May 29 that its Gemini Earn users had received all their digital assets back in-kind, following its settlement with Genesis. Source
Santander, the multinational banking giant, has recently announced that it will start offering cryptocurrency trading services in Brazil. The bank will roll out this functionality to selected customers of Toro, its investment unit, this week and will gradually extend it to more users in the future. With this move, Santander joins Nubank and Itau Unibanco, […] Source
Bitcoin’s recovery from Monday’s low under $59,000 stalled as buyers struggled to keep momentum above $61,000. Ether and the wider crypto market, represented by the CoinDesk 20 (CD20) Index, also faced lackluster trading during European hours. The pause coincides with the dollar index (DXY) topping 106, the highest since May 2, keeping investor risk appetite under check ahead of U.S. first-quarter GDP data, durable goods for May and a weekly jobless report scheduled for 12:30 UTC (08:30 EST). “The market may be most sensitive to the weekly jobless claims, given…
The BLUE token will have a maximum supply of 1 billion and an initial circulating supply of 116 million, according to a tokenomics document seen by CoinDesk. Investors and Bluefin’s team will have a three-year vesting period with a lockup that will expire one year after the initial roll-out next month. It also plans to allocate 32.5% of the token for user incentives that will include airdrops, trading rewards, liquidity provisions and future growth initiatives, according to the document. Source
A court in China has ruled in favor of Justin Sun in his defamation lawsuit against the Chongqing Business Media Group. In its verdict, the court stated that claims of Sun’s involvement in insider trading, fraud, and money laundering were “entirely unsubstantiated.” The Chongqing Business Media Group subsequently removed all of its false content and […] Source CryptoX Portal
My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for…