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🔥 Analysts Discuss Potential Solana ETF in the US In the United States, discussions continue about which cryptocurrency will have the third exchange-traded fund (ETF) after Bitcoin and ETH. Recently, while XRP was frequently mentioned, attention has suddenly shifted to Solana (SOL). This shift occurs amid growing expectations surrounding the potential approval of a spot ETF for Ethereum (ETH). Industry leaders believe Solana’s strong market presence and increasing popularity position it favorably for an ETF following Ethereum. 🔸 Will a Solana ETF Arrive? Brian Kelly, founder of the digital currency investment firm BKCM, commented on the approval process of Ethereum spot ETFs by the SEC in an interview with CNBC before the SEC’s approval. Shifting his focus to the next option, Kelly highlighted the potential of Solana, often referred to as the Ethereum killer in cryptocurrencies. In the later minutes of the interview, Kelly stated, “Bitcoin, Ethereum, and Solana will likely be the top three cryptocurrencies for this cycle.” James Seyffart, a well-known ETF analyst from Bloomberg Intelligence, also made statements parallel to Kelly’s views. Seyffart added that regulatory hurdles, such as a futures market regulated by the CFTC. Based on this situation, Seyffart indicates that the Solana ETF might not enter the market until 2026 at the earliest. Additionally, he mentions that recently accepted legislation favoring cryptocurrencies could expedite the ETF process faster than expected. 🔸 Is an XRP ETF Possible? Although XRP appears to operate in a clearer regulatory framework compared to Solana, Seyffart emphasized that XRP faces a longer path towards an ETF. One of the biggest obstacles remains the ongoing legal battle between Ripple Labs, the issuer of XRP, and the US Securities and Exchange Commission (SEC). Additionally, the lack of a futures market regulated by the CFTC on the XRP side is cited as another hurdle. Seyffart notes that even if these challenges are overcome, a potential XRP ETF cannot be guaranteed in the near future. $SOL #Sol #Solana

📊 Analyst Predicts Terra Classic Price Surge Cryptocurrency market analyst Javon Marks has recently forecasted a substantial price surge for Terra Classic (LUNC), envisioning a rise to $0.00139, translating to a 1,134% increase. This optimistic prediction stems from the recognition of a robust bullish technical pattern within LUNC’s price trajectory. Marks highlighted that this anticipated price is still far from the all-time high of $0.00005922 achieved in 2022. 🔸 What Fuels LUNC’s Bullish Prediction? Since October 2023, LUNC’s price trend has shown a distinctly bullish behavior, rebounding from a low of $0.00005506, the weakest level since June 2022. This rebound has coincided with a partial rally in the broader crypto market during the fourth quarter of 2023, serving as a catalyst for LUNC’s price uptrend. 🔸 Why Are Technical Indicators Important? A significant technical indicator supporting the bullish forecast is the ascending trend line in LUNC’s chart, characterized by a series of higher lows. This pattern suggests the likelihood of continued upward momentum. Marks emphasized this trend line as a pivotal factor for the projected price movement. 🔸 Important Considerations for Investors – Monitor the trend line closely; maintaining this support is crucial for sustained growth. – Initial target: $0.00058046, representing a 414% increase from current levels. – Historical data indicate a potential surge to $0.00098584 and possibly $0.001391. – Critical support level: $0.00010747; key resistance level: $0.00011498. – Staying above these levels is essential for near-term price continuation. To achieve the bullish projections, LUNC must hold above the $0.00010747 support level. Additionally, overcoming the resistance at $0.00011498 is critical to sustain the upward momentum and approach the predicted targets. $LUNC #LUNC

🚀 Why Are Traders Heading Back to Dogecoin? Is This a Fleeting Drift? Dogecoin is again receiving attention, as the volume has soared by over 35% since the early trading hours. This has caused a marginal rise in the price, which has surged by nearly 5% above $0.16. Besides, the market sentiments have also flipped to bullish ever since the launch of the spot Ethereum ETF. Therefore, now the question arises of why traders have jumped in favour of the DOGE price rally. 🔸Does the price initiate a breakout above the critical resistance or just trap the bulls at the local highs? Ever since the beginning of the 2021 bear market, which kicked off following the SNL event where he termed DOGE as a ‘Hustle’, the traders have lost their interest in the token. Although the price received some bullish push, it remained a short-term rally. However, the trend appears to have changed in recent times as the volume has been surging since the beginning of March, which has raised the volatility of the token. 🔸 Will the bulls hold the DOGE price above the gains? Will it hit $0.2 before the end of the month? After the recent pullback from the yearly highs above $0.22, the DOGE price has been maintaining an ascending trend and could reach the edge of the consolidation soon. This has triggered a rebound from the average levels of the Gaussian channel, which is still under bearish influence. Besides, the RSI is maintaining a decent upswing, which may compel the prices to reach the upper resistance of the channel. The technicals and the chart patterns do not indicate the recent breakout will be short-lived, but the price is expected to hit new yearly highs above $0.25. However, the traders usually remain impatient and squeeze profits following minor jumps. Hence, if the bulls receive the required pressure in the form of volume, then the Dogecoin (DOGE) price may keep up the bullish trend, withstanding all the bearish pressure. Therefore, a rise above $0.3 appears to be imminent in the first few weeks of H2, which may ensure a bullish close for the year 2024. $DOGE #DOGE

⭐️ Lido (LDO) Takes The Lead With 13% Surge Post Ethereum ETF Approval – Key Levels To Watch 🔸 LSD Sector Set To Soar With Ethereum ETF Approval? As reported by our sister website, Bitcoinist, the SEC’s approval of the Ethereum ETFs was detailed in an official filing, highlighting that the proposals meet the provisions of the Exchange Act and relevant regulations governing national securities exchanges. The Commission has determined that proposals from notable entities such as BlackRock, Grayscale, Bitwise, VanEck, Ark Invest/21Shares, Invesco Galaxy, Fidelity, and Franklin Templeton fulfill the requirements to prevent fraud and manipulation, protect investors, and safeguard the public interest. Crypto analyst Daan Crypto Trades, commenting on the Ethereum ETF approval on X (formerly Twitter), pointed out that the new index funds approval has led to two sectors emerging as clear winners. One of these sectors is Liquid Staking Derivatives (LSD) coins, with Lido at the forefront. Lido provides staking support for the Ethereum blockchain without the need to lock tokens or maintain infrastructure, allowing participants to engage in on-chain activities such as lending and farming. 🔸 Key Levels To Watch For Lido During the early hours of Friday, LDO reached a peak of $2.49 but has since retraced to its current trading price of $2.35. Large investors are interested in the token, as Spot On Chain data reveals that six fresh wallets/whales withdrew 4.3 million LDO ($9.59 million) from crypto exchange Binance over the past 24 hours. This indicates a growing interest in holding the token, as sentiment suggests a potential increase in price parallel to Ethereum once the newly approved index funds for the second-largest cryptocurrency enter the market in the coming months. Moreover, CoinGecko data shows that Lido has experienced a trading volume of $350 million within the last 24 hours, marking a 78.60% increase compared to Thursday’s. However, the token remains 68% below its all-time high (ATH) of $7.30, achieved during the 2021 bull market. $LDO #LDO #LidoDAO

💥 BlackRock's Bitcoin ETF nears top spot after $380 million buy IBIT's rapid growth highlights institutional confidence in regulated Bitcoin investments. BlackRock’s iShares Bitcoin Trust (IBIT) is on track to become the largest Bitcoin fund after purchasing over $380 million worth of the BTC this week, according to blockchain analytics platform Arkham Intelligence. The biggest purchase occurred on May 21, with IBIT buying over $290 million in Bitcoin. Launched in January 2024 after the SEC approved spot Bitcoin ETFs, IBIT has quickly become the second-largest Bitcoin fund. IBIT now holds more than 284,525 BTC, worth over $19.1 billion, putting it just $300 million away from surpassing the Grayscale Bitcoin ETF, which currently holds 289,256 BTC, valued at $19.4 billion. The recent inflows follow notable investments in IBIT, including the State of Wisconsin’s Investment Board purchasing nearly $100 million worth of shares in the first quarter of 2024, highlighting the growing institutional adoption of Bitcoin through regulated investment vehicles. $BTC #ETF #BTC

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