A massive $2.31 billion worth of crypto assets is set to hit the market in the next 30 days.

Solana leads the pack with a daily unlock of 74,860 SOL tokens worth over $13.3 million.

Worldcoin, Avalanche, and Wormhole also release tokens daily.

According to a recent update from Token Unlocks, a leading crypto tracker, a massive influx of crypto assets worth a staggering $2.31 billion is scheduled to hit the market within the next 30 days.

These significant token unlocks and issuances are expected to come from several high-profile projects, including Solana (SOL), Avalanche (AVAX), Wormhole (W), Worldcoin (WLD), and The Sandbox (SAND).

Curious about the current market conditions compared to upcoming token unlocks in the next 30 days 🚧$2.31 billion worth of tokens, including $SOL, $AVAX, $W, $WLD, and $SAND, will be released into the market Which tokens have low float unlocks, and which have high float… pic.twitter.com/TNqFoe9CtL

— Token Unlocks (@Token_Unlocks) July 26, 2024

Solana is currently following a linear unlock schedule, with 74,860 SOL tokens valued at over $13.3 million entering the market daily. Consequently, SOL tokens worth nearly $100 million have been released into circulation within the past seven days.

Notably, this unlock schedule began in December 2023. A new model, in which 66,540 SOL tokens will be released daily, will take effect on December 26 of this year. Based on its daily unlocks, Solana has the most substantial unlock schedule for the next 30 days.

Worldcoin follows closely behind, with a daily unlock of 5.32 million WLD tokens valued at over $11.64 million. This schedule commenced just two days ago and will continue for the next two years. The released assets are allocated to the initial development teams and TFH investors, who receive $1.21 million and $1.66 million daily, respectively. Notably, the new unlock schedule has replaced the previous Worldcoin community allocation and TFH reserve.

Avalanche is also releasing tokens daily, with 700,000 AVAX tokens worth $19.54 million entering the market over the past week. Meanwhile, the newly launched Wormhole project is following a similar pattern, releasing $3.49 million worth of W tokens to community members and the ecosystem treasury over the past week.

The post Token Unlocks Alert: $2.31B in Crypto Assets Set to Hit Market appeared first on Coin Edition.

Marc Fagel warns against excessive optimism over a potential Ripple settlement.

Ripple CEO and CLO remain optimistic about a swift resolution.

XRP trades at $0.598, reflecting a 7.53% weekly increase despite uncertainties.

Former Securities and Exchange Commission (SEC) lawyer Marc Fagel has urged caution among market participants regarding excessive optimism surrounding a potential settlement in the ongoing legal battle between the SEC and Ripple Labs.

The SEC recently rescheduled a closed meeting, sparking renewed hope within the XRP community for a potential settlement. However, Fagel has tempered expectations, citing a lack of concrete evidence to support such an outlook. 

The lawyer explained that resolving a complex case like Ripple’s is unlikely at this stage, especially during a closed meeting. He noted: 

“If the enforcement staff had negotiated a settlement with Ripple, they would have notified the court to prevent the issuance of the remedies ruling while awaiting SEC approval,”

The SEC’s case against Ripple, which began in 2020, entered the trial phase in April 2024. The XRP community eagerly anticipates the conclusion of this closely watched legal saga. In its filing, the agency alleges that XRP is an unregistered security, an assertion Ripple has consistently refuted.

Although the initial cancellation of the closed meeting was disappointing, anticipation has grown since it was rescheduled for July 25. Some X (formerly Twitter) users speculate that a settlement may be reached. The SEC is expected to discuss matters including “Institution and settlement of administrative proceedings” and “Resolution of litigation claims.”

Market experts and commentators had previously suggested a potential settlement, particularly after the SEC’s decision to hold a closed meeting. Ripple CEO Brad Garlinghouse, in a recent Bloomberg interview, expressed optimism about a swift resolution. Ripple CLO Stuart Alderoty echoed this sentiment while commemorating the anniversary of Judge Analisa Torres’s significant ruling.

At press time, XRP trades at $0.598 during press time, reflecting a 7.53% weekly increase per data.

Despite these hopeful signals, Fagel’s comments cast doubt on the likelihood of a settlement stemming from the SEC’s closed meeting. He emphasized that the next few weeks will be crucial in determining the final judgment in the remedies phase.

The post Ripple Lawsuit: Former SEC Lawyer Warns Against Overly Optimistic Settlement Expectations appeared first on Coin Edition.

Changpeng Zhao’s release date from FCI Lompoc II has been extended to September 29.

CZ’s delayed entry into custody shifted his prison term timeline, initially set for Seatac.

Legal adjustments and protections, including due process rights, influenced CZ’s sentencing and facility placement.

Changpeng Zhao (CZ), the founder of Binance, will not be released from prison on August 30 as some had anticipated. His release from Federal Correctional Institution Lompoc II, a low-security federal prison three hours north of Los Angeles, is now scheduled for September 29, assuming no changes to his situation occur.

Earlier this year, U.S. District Judge Richard Jones sentenced CZ to a four-month term, initially recommending his detention at the Federal Detention Center (FDC) in SeaTac, Washington.

The sentence was handed down on April 30, leading many to believe that CZ’s release date would be August 30, assuming immediate imprisonment. However, CZ’s actual entry into the Bureau of Prisons (BOP) system occurred much later.

@cz_binance was sentenced to four months in prison on Tuesday, April 30, 2024.If he had started his jail time right away, his due date to be a free man would be August 30, 2024.#facts https://t.co/kk9tVKabkG

— Pahueg 🌐 (@pahueg) July 23, 2024

CZ’s legal team, which includes Quinn Emanuel Urquhart & Sullivan, Davis Wright Tremaine, and Latham & Watkins, worked to secure additional weeks of freedom for him. Their efforts resulted in a delayed entry into custody, with CZ remaining out of prison until mid-May. Coordination between his lawyers, probation, and pretrial services offices led to his imprisonment starting in late May, nearly a month after his sentencing.

A recent check of the BOP database confirmed that CZ is not at FDC SeaTac but at FCI Lompoc II. This facility is known for its lower security and different administrative structure. The shift to FCI Lompoc II was part of the unique arrangements surrounding CZ’s prison sentence, which included delayed entry and the choice of a less secure facility.

The Fifth Amendment of the U.S. Constitution, which guarantees due process to all individuals in the United States, including non-citizens like CZ, has been a pivotal factor in the handling of his case. This constitutional protection ensured that CZ received all the legal accommodations and adjustments that have characterized his prison term thus far.

The post Why Binance Founder CZ Won’t Be Leaving Prison Until September appeared first on Coin Edition.

FTX Japan has been acquired by bitFlyer, a Japanese crypto exchange.

The firm will be rebranded to New Custody Company until a new name is decided.

FTX Japan will now focus on providing institutional-grade crypto custody services.

bitFlyer, a Japanese crypto exchange, has acquired the Japanese branch of the now-bankrupt exchange FTX. FTX Japan will be rebranded after the purchase, initially operating under the temporary name New Custody Company until a new name is chosen.

Operating a crypto exchange will become less of a primary focus for New Custody Company; instead, the company will prioritize institutional-grade crypto custody services. According to bitFlyer, the newly acquired platform will also offer services related to crypto exchange-traded funds (ETFs), a market not yet established in Japan. bitFlyer anticipates that spot BTC ETFs will soon be permitted in Japan, stating:

“Although the situation is not necessarily the same in the U.S. and Japan, this trend is expected to increase the need for institutional investors to enter the crypto asset market in Japan, and crypto asset custody services are expected to become more important.”

Based on bitFlyer’s observations, crypto asset spot ETFs could emerge in Japan even before a formal framework incorporating tax rules is developed. Notably, New Custody Company intends to provide services tailored to financial institutions, including trust banks. Subject to customer permission, New Custody Company will also allow FTX Japan client accounts to be transferred to bitFlyer.

bitFlyer believes that its expertise in blockchain and crypto will enable New Custody Company’s clients to benefit from secure crypto asset trading. The company also aims to expand its custody business to meet the growing demand from institutional investors seeking robust security solutions for their entry into the crypto asset market.

According to local news site Nikkei, bitFlyer spent billions of yen, or tens of millions of dollars, to acquire FTX Japan, formerly known as Liquid, which was purchased by Sam Bankman-Fried’s FTX exchange in early 2022.The exchange was renamed FTX Japan just months before the FTX empire collapsed in November 2022. Following the collapse, FTX Japan asserted that its clients’ assets were not included in the bankruptcy proceedings and subsequently began the process of withdrawing and reimbursing customer funds in February 2023.

The post bitFlyer Acquires FTX Japan, Rebrands as New Custody Company appeared first on Coin Edition.

Tokens worth $347M set to unlock between July 29 – August 4, 2024.

Top unlocks are W ($171.72M), OP ($54.53M), SUI ($48.98M).

Market brace for potential liquidity shifts and price volatility.

The crypto market is bracing for a potential shakeup as over $347 million worth of tokens are scheduled to enter circulation between July 29 and August 4, 2024.

According to data from Token Unlocks, a substantial amount of tokens are set to be released, including W ($171.72 million), OP ($54.53 million), and SUI ($48.98 million), which represent the largest portions of the upcoming supply.

🔓 Weekly Cliff Unlocks : 29-4 August 24 🔓🔥 $ 347.28m 🔥🌟 Unlock Highlights 🌟$W (33.33%) – $171.72m$OP (2.79%) – $54.53m$SUI (2.56%) – $48.98m$ZETA (18.92%) – $33.69m$GAL (3.52%) – 14.81m$DYDX (3.65%) – $10.58m$ENA (0.87%) – $6.58m..( % of cir. supply) pic.twitter.com/IZe9lOUYaN

— Token Unlocks (@Token_Unlocks) July 26, 2024

Specifically, the VC-backed project W plans to release $171.72 million, accounting for 33.33% of its circulating supply. Similarly, the OP token will unlock $54.53 million, representing 2.79% of its circulating supply. The SUI token is slated to unlock $48.98 million, or 2.56% of its circulating supply.

Other significant unlocks include ZETA, with $33.69 million (18.92% of its circulating supply) being released, GAL with $14.81 million (3.52%), DYDX with $10.58 million (nearly 3.6%), and ENA with $6.58 million (0.87%).

The percentage of the total supply being unlocked varies significantly across tokens. TOKE will have 84.42% of its supply unlocked, TECH 85.71%, IMNC 36.69%, OP 27.37%, ZETA 13.47%, SUI 25.13%, DYDX 56.77%, 1INCH 85.71%, W 19.97%, ENA 8.75%, FORT 46.1%, and LOTT 91.53%.Overall, the impact of these unlocks could be substantial, affecting liquidity and market supply, and potentially leading to price fluctuations. Market participants are advised to closely monitor these events as they unfold, considering their potential to significantly influence market dynamics and investor sentiment.

The post Upcoming Token Unlocks: A Closer Look at W, OP, SUI, and More appeared first on Coin Edition.

Bitcoin has served as an ideal treasury asset for Nayib Bukele and Michael Saylor.

El Salvador holds 5,750 BTC, while MicroStrategy holds 226,331 Bitcoins.

James Murphy thinks Bitcoin’s potential to increase in value makes it an ideal reserve asset.

James Murphy, the crypto lawyer known as MetaLawMan on X, argues that Bitcoin has served as an ideal treasury asset for Nayib Bukele, El Salvador’s President, and Michael Saylor of MicroStrategy. Murphy made this statement to reinforce his earlier post on the potential role of Bitcoin in the ongoing U.S. presidential campaign.

Looking at this objectively, #Bitcoin as a treasury reserve asset has been working out pretty well for @nayibbukele and Michael @saylor so far.👇 https://t.co/Uvt7MRRXVo

— MetaLawMan (@MetaLawMan) July 24, 2024

Last month, Murphy posited that the most logical step for a pro-Bitcoin presidential candidate would be to declare that the U.S. Treasury would purchase Bitcoin to hold as permanent reserves. That statement followed comments made by Donald Trump during one of his campaign rallies where he said:

 “All Bitcoin mining should be in the U.S.” 

Under Bukele’s leadership, El Salvador became a fully pro-Bitcoin nation, declaring the flagship crypto a legal tender, establishing Bitcoin mining operations, and undertaking other pro-Bitcoin activities, such as embarking on the construction of a “Bitcoin City.”

Meanwhile, as of last May, reports indicated that El Salvador had mined 474 BTC since 2021, bringing the nation’s Bitcoin holdings to 5,750 BTC. El Salvador transferred the bulk of its Bitcoin holdings to cold storage earlier this year, with Bukele describing it as their first Bitcoin piggy bank and saying it was “honest work.”

According to reports, MicroStrategy owns 226,331 bitcoins, ranking it as the highest-ranked institutional Bitcoin holder in terms of assets held. The company’s Q1 2024 report showed it purchased the Bitcoins for $7.54 billion, averaging $35,180 per Bitcoin. Therefore, the value of the investment has nearly doubled at the current price.

Bitcoin’s potential for price appreciation is one reason Murphy believes it would serve as an ideal treasury reserve asset. He compared it to the gold held at the U.S. bullion depository, often called Fort Knox.

The post Bitcoin as a Treasury Reserve: El Salvador and MicroStrategy Lead the Way appeared first on Coin Edition.

Turkey’s parliament passed new crypto legislation.

New regulation increases operational costs for exchanges.

Despite economic challenges, the Turkish Lira’s crypto trading volume remains strong.

Turkish regulators have introduced the country’s first comprehensive crypto legislation to regulate its burgeoning cryptocurrency market, outlining licensing and compliance requirements for crypto-asset service providers (CASPs).

On July 2, Turkey’s parliament approved legislation aimed at helping the country exit the Financial Action Task Force’s (FATF) “gray list” of countries with insufficient anti-money laundering measures. The new law introduces licensing, compliance, and transaction requirements for CASPs, and imposes an annual fee of 2% of trading income on platforms and custody services.

While the new regulation provides greater clarity, it also increases operational costs and hurdles for exchanges. The full impact on local and foreign market participants is expected to become clearer with the introduction of secondary legislation.

Turkey’s cryptocurrency market has experienced significant growth, fueled by economic factors such as high inflation, currency devaluation, and a burgeoning population of crypto enthusiasts. The Turkish Lira (TRY) has been a key driver of this growth, with its trading volume surging from a few million dollars to over $10 billion in the past four years.

Although TRY’s trading volume in 2024 has remained below the 2021/2022 peak of $37 billion, it has demonstrated resilience, maintaining over $10 billion in monthly volume for eight consecutive months.

Year-to-date, the Lira’s cumulative volume has reached approximately $95 billion, nearly matching the total for 2023. In the past two years, it has consistently ranked fourth in trade volume behind the U.S. Dollar, Korean Won, and Euro.

Furthermore, the Lira is closing the gap with the euro, with its market share rising from 10% in early 2022 to approximately 40-50% today. In early June, the TRY even briefly surpassed the euro in total volume.

Turkey’s ongoing struggles with double-digit inflation and currency devaluation have also spurred crypto adoption. The average inflation rate over the past five years has exceeded 40%. Despite efforts to normalize monetary policy after the 2023 elections, the Lira has continued to gradually lose value in 2024.Meanwhile, Bitcoin (BTC) has appreciated significantly since 2021, becoming an attractive store of value despite its volatility. The BTC-TRY trading pair has surged by over 800% since 2021, outperforming other fiat-denominated BTC pairs.

The post Turkey Adopts Landmark Crypto Law, Aims to Exit FATF Gray List appeared first on Coin Edition.

Mags has predicted impending rallies for altcoins and Bitcoin soon.

There is residual upside momentum for the altcoin market in the current bull cycle.

Mags spotted a new Hash Ribbon indicator on the Bitcoin chart.

Crypto analyst Mags, who goes by the handle @thescalpingpro on X (formerly Twitter), has predicted upcoming rallies for altcoins and Bitcoin. Contrary to the views of perennial bears, Mags believes the recent altcoin pullback signals a period of reaccumulation in preparation for another upward movement.

#Altcoins Perma bears will tell you altcoins are done and are in a distribution phase. But if you look at the chart, altcoins are only up 58% since they broke out after 525 days of accumulation.Do you really think a breakout after 525 days of consolidation will end after… pic.twitter.com/20WY9HGLix

— Mags (@thescalpingpro) July 25, 2024

Mags explained his position using the altcoin market cap chart, which shows that this category of cryptocurrencies is only up 58% since breaking out after 525 days of accumulation. He argues that it would be unusual for such a lengthy accumulation period to end with only a 58% rally, and therefore believes the altcoin market retains significant upside potential in the current bull cycle.

TradingView data supports this view, showing a developing upside reversal in the altcoin market cap. The metric has bounced off the 0.382 Fibonacci retracement level and is attempting to break above the next resistance at the 0.5 Fibonacci retracement level. A close above this level could confirm the end of the pullback and pave the way for an altcoin market rally.

Total2 Daily Chart on TradingView

Meanwhile, Mags has identified a new Hash Ribbon indicator for Bitcoin at the current price level. In a separate X post, he noted that this is the third time the flagship cryptocurrency has printed this bullish indicator since bottoming out at $15,500.

According to Mags, Bitcoin has experienced a “nice jump in price” each time the Hash Ribbon indicator has appeared since the beginning of the current bull run. He suggests that the recent signal indicates the early stages of another leg in Bitcoin’s upward trajectory after recovering from a recent pullback.Bitcoin recently bounced off support at $63,424 following a 7.35% pullback over the past four days. According to TradingView data, the cryptocurrency was trading at $67,096 at the time of writing.

The post Crypto Analyst Sees Bitcoin and Altcoins Poised for Significant Gains appeared first on Coin Edition.

Bitcoin’s steady rise persists, facing Fibonacci resistance but maintaining stability amid typical market adjustments.

Cardano’s volatility contrasts Bitcoin’s stability, with recent dips below key moving averages highlighting market fluctuations.

Despite recent drops, Cardano may rebound significantly, similar to Bitcoin’s past cycles, based on historical patterns.

Bitcoin and Cardano, two prominent cryptocurrencies, are exhibiting distinct trajectories. Bitcoin demonstrates a resilient upward trend, while Cardano, despite its potential, faces challenges that require attention for a more stable future.

According to Dan Gambardello, founder of Crypto Capital Venture, Bitcoin’s recent chart patterns reveal a persistent upward trajectory, even amid occasional pullbacks. Currently, Bitcoin is facing resistance at a key Fibonacci level, reflecting the cryptocurrency’s ongoing consolidation phase.

BITCOIN Path Forward…CARDANO Has Some Work To Do!Intro 00:00Zoom out 00:25Bitcoin price resistance 1:00Here is BTC price support 2:40iTrustCapital 4:25Cardano zoomed out 5:40Crucial ADA daily price move 8:00 pic.twitter.com/ctIZgqsGRd

— Dan Gambardello (@cryptorecruitr) July 25, 2024

This consolidation is a normal part of Bitcoin’s trend, particularly after its recent high of $68,000 in late July. The price has naturally retraced, a typical market adjustment.

Despite Cardano’s promising potential, the cryptocurrency has struggled to maintain consistent momentum. Recent analyses indicate that Cardano’s price has dipped below crucial moving averages, specifically the 50-day and 20-day averages.

This drop underscores a period of volatility, contrasting sharply with Bitcoin’s steadier performance. Cardano’s MACD on the monthly chart mirrors patterns seen in Bitcoin’s previous cycles, raising questions about its future performance.

Cardano’s recent price movements show heightened volatility, with sharper rises and falls compared to Bitcoin. This increased volatility reflects both greater speculative interest and market fluctuations. Historical patterns suggest that, like Bitcoin, Cardano could experience a significant rebound after this volatile phase. The 96-day post-Bitcoin halving mark has historically been a period of significant price adjustments, and Cardano’s trajectory during this period will be crucial.

Comparatively, Bitcoin’s price trend demonstrates stability with fewer dramatic shifts, suggesting steadier investor confidence. In contrast, Cardano’s movements are characterized by more pronounced fluctuations, pointing to a more speculative market behavior. Bitcoin’s ability to maintain a positive trend with fewer interruptions underscores its established position in the market.

BTC V.s ADA 1-day price chart, Source: Coinmarketcap

As at press time, Bitcoin is trading at  $67,138.17 with a trading volume of $34.6 billion, which is a 4.33% increase over the last 24 hours. Cardano is currently trading at $0.4129 with a trading volume of $325.9 million, representing a 4.06% rise in the same timeframe.

The post Bitcoin Resilient, Cardano Volatile: Analyzing the Latest Crypto Market Trends appeared first on Coin Edition.

Ethereum’s founder suggests exploring non-USD-connected indices for RAI V2 to enhance stability and neutrality.

Vitalik Buterin proposes index ideas, including World GDP and a weighted basket of world currencies.

The crypto community responds with widespread approval and additional suggestions.

Reflexer Finance, the team behind RAI, the first non-pegged stable asset backed solely by Ethereum (ETH), recently solicited suggestions from the community on desired changes for a second version of RAI.

The inquiry piqued the interest of Ethereum’s founder, Vitalik Buterin, who offered his insights. Buterin suggested exploring non-USD-connected indices to enhance RAI V2’s stability and neutrality. He outlined four key criteria for a good index: easily measurable, not too manipulable, credibly neutral, and reasonably stable.

Explore non-USD-connected indices.A good index should be (i) easily measurable, (ii) not too manipulable, (iii) credibly neutral, (iv) reasonably stable.Random ideas:* World GDP* Weighted basket of world currencies* DAO manages a CPI-like basket

— vitalik.eth (@VitalikButerin) July 26, 2024

Essentially, Buterin proposed diversifying away from the U.S. dollar to provide greater stability. He also offered three potential index ideas:

World GDP: An index tied to global economic output, providing a broad measure of economic activity.

Weighted Basket of World Currencies: A diversified index comprising a range of currencies. This approach would balance the influence of multiple economies, reducing exposure to the volatility of any single currency.

DAO-Managed CPI-like Basket: A decentralized autonomous organization (DAO) overseeing a consumer price index (CPI)-style basket of goods and services, ensuring a stable and neutral measure of value.

The Ethereum founder’s suggestions resonated with the crypto community, garnering widespread approval. Rafa Simon, manager of Dojo Chimpers, praised Buterin’s insights and suggested that exploring a basket of commodity indices could further enhance stability.

Great insights, Vitalik! What do you think about exploring a basket of commodity indices? It could offer another layer of stability

— RafaSimon (@rafalors) July 26, 2024

Another community member echoed the same sentiment, noting that a Consumer Price Index (CPI) would be a valuable addition, illustrating the relationship between crypto prices and the real-world economy.

Other community members responded to Reflexer Finance’s original question with alternative ideas. One suggestion involved utilizing liquid staking collateral to address bootstrapping and capital inefficiency issues, with the resulting yield directed towards incentives or reinforcing the peg.

The post Reflexer Finance Crowdsources Ideas for RAI V2, Buterin Suggests Non-USD Backing appeared first on Coin Edition.

TEA has captured significant attention with its recently concluded presale. Raising an impressive 38,888 SOL and securing $3.4 million in just the first ten minutes, $TEA’s rapid success underscores the project’s broad appeal. This meteoric rise reflects a growing interest in combining cultural relevance with blockchain technology, as $TEA aims to unite tea lovers and crypto enthusiasts under a shared vision of sustainability and education.

Investors can engage in staking and farming activities, with opportunities to earn rewards through various strategies. Staking options range from 5% for a two-week lock-up to 55% for three months. The project has also introduced a SWAP feature for its community. Holders who keep their $TEA for two weeks after swapping will receive a 3% cashback reward, providing extra motivation to hold and participate in the $TEA ecosystem.

Additionally, farming allows users to provide liquidity to $TEA pairs on decentralized exchanges (DEXes), offering substantial rewards. The project also incorporates a strategic burning mechanism to manage token supply, potentially increasing the value of remaining tokens. A portion of burned tokens is allocated to monthly charitable raffles, integrating community support into the tokenomics.

Known as Communi-TEA, the community has quickly grown to over 3 million members on Telegram. This rapid expansion highlights the project’s ability to connect with a diverse audience. The team’s dedication to keeping the community informed with regular updates has fostered a loyal and engaged user base.

Moreover, $TEA has forged important partnerships with established entities such as MemeFi and WormFare. These collaborations have boosted the project’s visibility and market reach, setting the stage for upcoming milestones, including exchange listings. 

The recently updated project roadmap unveils upcoming listings on centralized exchanges that are anticipated to boost the token’s liquidity and accessibility, drawing in even more backers and investors. A lot more is on the horizon: a tap-to-earn clicker game is set to launch soon, and a future partnership with an RWAs tokenization project is in progress.

TEA also emphasizes global initiatives through its focus on sustainable tea farming and education. By partnering with local organizations, the project supports environmental and educational efforts worldwide. Interactive products like the Tap-Tea Game and lifetime subscriptions to rare teas further engage users while providing tangible value.

Charity is a cornerstone of the $TEA project. The initiative supports ecological and educational programs in tea-growing regions, aiming to improve living standards and advance sustainable practices. Led by renowned international speaker and tea enthusiast Gil Petersil, these efforts contribute to the project’s positive impact.

The post $TEA Raises $3.4M in 10 Minutes: What’s Behind the Historic Presale? appeared first on Coin Edition.

Ali Martinez predicts Solana will rally above $1,000 soon.

The analyst spotted a bullish wedge flag breakout on the Solana chart.

A similar breakout triggered a 717.17% SOL rally in 2021

With the crypto market rebound, Solana’s native token, SOL, is gaining attention for its price surge. Crypto analyst Ali Martinez has added fuel to this optimism, predicting a significant rally based on technical patterns and historical data.

The analyst predicts SOL could soon rally above $1,000. Martinez based his prediction on SOL’s historical price behavior, citing similarities between the altcoin’s recent trend and the 2021 pattern that led to an impressive surge.

#Solana is looking a lot like July 2021… $1,000 $SOL coming soon! pic.twitter.com/J0Yx5npfiS

— Ali (@ali_charts) July 26, 2024

In 2021, SOL experienced a remarkable rally shortly after the protocol’s launch, surging from a low of $22.14 to an all-time high of $260, representing a 1,100% increase over four months.

Martinez’s analysis highlights that Solana appears to be repeating its pre-2021 rally behavior by breaking out of a bullish wedge flag pattern. In 2021, SOL broke out of a similar pattern after bouncing off the $22.14 bottom to rally 717.17%. Martinez juxtaposed the 2021 chart with SOL’s recent formation, suggesting the altcoin’s price is mirroring the earlier pattern at the breakout point.

Notably, Martinez’s current chart analysis shows SOL has recently broken out of another bullish wedge flag and is exhibiting accumulation, suggesting an impending rally. Based on this projection, Martinez anticipates SOL’s next target to be above $1,300, representing a 717.28% increase from its current price.

SOL has been one of the top-performing cryptocurrencies since the start of the current bull run. The layer-1 altcoin rebounded from a low of $17.34 last September, surging 1,184% to reach a high of $209.90 in March 2024.

While SOL has traded sideways amid a broader crypto market consolidation, ranging between $188.90 and $118.68 since May, recent trends suggest the altcoin is regaining its bullish momentum. This has led many analysts, including Martinez, to predict a potential breakout to the upside.

According to TradingView data, Solana was trading at $179.07 at the time of writing, having recovered from a recent pullback to $121.01.

The post Could Solana Reach $1,000? Crypto Analyst Sees Parallels to 2021 Rally appeared first on Coin Edition.

Mitchnick says Solana, XRP ETFs face liquidity and regulatory issues.

Ethereum’s dip post ETF launch triggers market caution.

VanEck, 21Shares push forward with Solana ETF filings.

BlackRock’s Robert Mitchnick, Head of Digital Assets, dampened expectations for Solana and XRP ETFs, citing a lack of maturity and liquidity, along with regulatory uncertainties.

This follows Ethereum’s recent price drop after its ETF launch. However, others pointed to VanEck and 21Shares’ SOL ETF filings, highlighting institutional interest.

The analyst also expressed the view that the SEC was not particularly comfortable with spot Ether ETFs offering staking facilities. He used this reasoning to suggest that an ETF for altcoins such as Solana and XRP might be far off.

The speculation surrounding a Solana ETF was initially sparked by Franklin Templeton (FTI), which praised the blockchain’s vision and accomplishments in an X post. Notably, FTI lauded the diverse activities on the SOL blockchain during Q4 2023, including developments in decentralized finance (DeFi), meme coins, and NFT innovation.

On Solana, we see Anatoly’s vision of a single atomic state machine as a powerful use case of decentralized blockchains, lowering information asymmetry. And we are impressed by all the activity seen on Solana in Q4 2023-DePIN-DeFi-Meme coins-NFT innovation-Firedancer

— Franklin Templeton (@FTI_US) January 17, 2024

Additionally, the smart contract blockchain hosted its first-ever institutional fund from Hamilton Lane (HL), one of the world’s largest firms investing in alternative assets, with over $900 billion in assets under management. The firm’s CEO commended Solana’s “low latency and throughput capability,” calling it an ideal network for tokenization.

That being said, the altcoin market is witnessing significant activity as the two most dominant tokens remain stagnant. In particular, Sol-based meme coin sectors have posted impressive gains, underscoring the diverse opportunities within the cryptocurrency space.

Even though skeptics have deemed Solana an unregistered security that might impede the SEC from approving any spot fund until legal matters are resolved, VanEck and 21Shares have nonetheless filed applications to list SOL-based exchange-traded funds.

As of now, the future of altcoin ETFs remains uncertain. Despite Mitchnick’s remarks, institutional interest, as shown by VanEck and 21Shares, and Franklin Templeton’s praise for Solana, underscore a belief in the potential of these assets. As the market evolves, the clash between regulatory caution and innovative optimism will shape the trajectory of Solana and XRP ETFs.

The post Why BlackRock Doesn’t See Solana, XRP ETFs in the Near Future appeared first on Coin Edition.

Shiba Inu orders surged by 76% in Q1 2024, indicating a significant increase in its adoption and utility.

SHIB is now supported on Binance Smart Chain and Polygon, enhancing its accessibility and integration into daily transactions.

A recent market trend shows SHIB breaking a bearish pattern, suggesting a potential reversal to bullish sentiment.

The first quarter of 2024 has marked a pivotal season for Shiba Inu (SHIB), witnessing a 76% surge in merchant orders, signaling broader acceptance and integration of the cryptocurrency into various transactional processes.

CoinGate’s recently published “Crypto Payments Report & Industry Insights (H1 2024)” highlighted that Shiba Inu is not only gaining traction but also setting a pattern for memecoins by being included in blockchain payment surveys alongside established cryptocurrencies like Ethereum (ETH) and Binance Coin (BNB).

The support from the ShibArmy has been crucial, driving demand and encouraging platforms like CoinGate to adopt SHIB, which is currently trading at $0.00001678, for transactions.

Earlier this year, the expansion of SHIB’s support to the Binance Smart Chain (BSC) and Polygon networks greatly enhanced the cryptocurrency’s accessibility, contributing to its growing adoption.

The adoption of Shiba Inu is extending beyond digital transactions into tangible real-world uses. SHIB holders are increasingly using their tokens for a variety of purposes, ranging from travel bookings to purchasing games and clothing from well-known brands, demonstrating its practicality as a versatile payment method.

Similarly, SHIB KNIGHT, a crypto analyst, pointed to a potential shift in market sentiment on his X (formerly Twitter) account. He shared a trading chart showing a breakout from a descending triangle pattern, typically a bearish indicator, to a more bullish trajectory.

Can we break this downtrend $SHIB 👀 pic.twitter.com/Pza6jn5qe3

— $SHIB KNIGHT (@army_shiba) July 26, 2024

This breakout, evidenced by a price rise to 0.00001680 USDT, suggests a reversal in the downward trend, potentially leading to increased investor interest and a further price increase if the trend holds.

The combination of increased trading volume and the positive response to this breakout could be critical for confirming the trend reversal, potentially establishing a new course for SHIB’s role in the cryptocurrency market. Shiba Inu’s significant adoption growth, backed by strategic network expansions and robust community support, is positioning it as a more versatile and widely accepted digital asset.

The post Shiba Inu Adoption Soars in Q1 2024, Merchant Orders Up 76% appeared first on Coin Edition.

ETF Store President Nate Geraci called out Bitcoin maxis in a recent X post. 

Geraci said that the adoption of altcoins will only benefit Bitcoin in the long term.

Community members said that other blockchains have failed to achieve their goals.

Nate Geraci, President of the ETF Store, recently sparked a debate on X (formerly Twitter) by challenging the defensive stance of Bitcoin maximalists (maxis). Geraci argued that the growing adoption of altcoins, rather than undermining Bitcoin, could actually bolster its position as the premier “store of value” in the crypto world.

Strange to me how defensive btc maxis are…You’ve clearly won the “store of value” play at this point.Mainstream adopting other crypto assets only helps your case.Otherwise, your value prop is “we’re the only legit chain & nobody uses chains for literally any other reason”.

— Nate Geraci (@NateGeraci) July 26, 2024

In a series of tweets, Geraci acknowledged that Bitcoin maxis have successfully established Bitcoin as a store of value. However, he questioned their reluctance to embrace other digital assets, suggesting that this narrow focus could limit Bitcoin’s potential.

“If Bitcoin is the only legitimate blockchain, and its sole use case is as a store of value,” Geraci tweeted, “then the mainstream financial world might ask, ‘Why use blockchain at all?'”

Geraci contended that the adoption of altcoins for legitimate use cases, such as in DeFi, NFTs, and supply chain management, helps to validate the broader potential of blockchain technology. This, in turn, could enhance Bitcoin’s appeal to mainstream investors.

The reaction to Geraci’s comments was mixed, with some in the crypto community questioning the actual utility of altcoins. X user Matt Devin countered that Bitcoin maxis are often skeptical of other blockchains because their proposed use cases are “poorly thought out” or merely “clever wrappers of Ponzi schemes.”

Equating "buying other crypto assets" as "using the blockchain" is where the argument heats up. Not a BTC maxi but I can appreciate why they are heavily skeptical of alts. Many "use cases" fail to achieve anything close to what they promise because they are poorly thought out.

— Matt Devin (@MattDevin6) July 26, 2024

The debate comes amidst a broader resurgence in the cryptocurrency market. As of this writing, Bitcoin was trading at $66,900, with bulls attempting to push the price above the $67,000 level. In the last seven days, the leading digital asset rose 4.82%, with an increase of 8.81% in the past 30 days.

Whether the growing adoption of altcoins will ultimately benefit or hinder Bitcoin remains to be seen. However, Geraci’s comments highlight the ongoing discussion about the role of different cryptos in the evolving digital asset landscape and the potential impact on broader acceptance of blockchain technology.

The post ETF Store President Questions Bitcoin Maximalism, Advocates for Altcoin Adoption appeared first on Coin Edition.

Bitcoin rebounds to $67K, sparking a broader crypto market recovery.

Santiment identifies UNI, SHIB, MATIC, LINK, ADA, and XRP as top assets for potentially high returns.

However, top performers like Toncoin, Bitcoin, Ethereum, and Dogecoin may carry higher risks for investors

The cryptocurrency market is staging a significant comeback on Friday, with many assets showing promising growth after a brief retracement when Bitcoin dipped back to the $63,000 range the previous day. However, Bitcoin has rebounded strongly, reaching $67,445 before settling slightly lower.

Market intelligence platform Santiment noted now may be the perfect time for crypto enthusiasts to rebalance portfolios and make informed investment decisions.

📊 As crypto markets are showing serious bounce action on a bullish Friday, keep in mind where various assets stand in terms of average trading returns.If you believe markets are about to surge, history says that buying into assets that traders have experienced the most pain in… pic.twitter.com/ReNHwEWb84

— Santiment (@santimentfeed) July 26, 2024

Santiment noted that buying assets that have caused traders the most pain in the past may offer the greatest potential for substantial returns. This assessment is based on the platform’s MVRV Z-Score, which measures the average trading returns of various coins.

According to the analysis, the top coins that have caused traders the most pain and may, therefore, be due for a comeback are Uniswap (UNI), Shiba Inu (SHIB), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and XRP.

Indeed, these categories of crypto assets have ranked among the underperformers in recent months. For instance, with ADA trading at $0.413, it has lost over 11% in the price it sold for sixty days ago. Zooming out further, Cardano is nursing a substantial year-to-date loss of over 30%. Notably, these percentages have only recently been propped up amid ADA’s recapture of the $0.4 threshold.

Similarly, Shiba Inu has fallen over 31% from its two-month high. XRP had been leading the list of underperformers until ten days ago when it broke through its three-month high of $0.6366.

As the crypto market gradually turns bullish, Santiment’s data highlights XRP, Shiba Inu, ADA, UNI, MATIC, and LINK as potentially favorable buys.

On the other hand, coins that have seen significant gains and may have less potential for explosive growth include Toncoin, Bitcoin, Ethereum, and Dogecoin. These coins have generated profits for the average trader but may now carry higher risks. Santiment’s data suggests that investors should exercise caution when investing in these assets, as they may be due for a pullback.

The post Data-Driven Crypto Picks: Santiment Reveals Potential Winners in the Market appeared first on Coin Edition.

Jito Foundation launches innovative restaking program on Solana.

JTO price surges 9% following the announcement, defying market trends.

Program aims to enhance Solana network security and token utility.

Jito Foundation’s innovative re-staking program on the Solana blockchain is turning heads, with its meme coin, JTO, surging 9% following the announcement despite a wider market dip.

The platform aims to enhance both network security and token utility through a dual-pronged approach, offering a compelling solution in the evolving landscape of DeFi.

The Jito Restaking platform offers a suite of features designed to maximize the efficiency of staked assets. It consists of two distinct programs: the Vault Program and the Restaking Program, which together create a scalable infrastructure for asset management.

The Vault Program facilitates the creation of Liquid Restaking Tokens (LRTs) and manages asset delegation strategies. By accommodating SPL as the underlying asset and implementing strategies that include cap and slashing conditions, the program aims to mitigate risks traditionally associated with staking.

Conversely, the Restaking Program centers on managing Actively Validated Services (AVS) and coordinating between AVS operators and vaults. This integration streamlines reward distribution and contributes to overall network stability. The dual-program structure of the Jito Restaking platform could significantly influence future staking practices on Solana.

As of the press time, the price of Jito (JTO) was valued at $2.91, with a 24-hour trading volume of $156.4 million. This represented an 8.20% increase over the last 24 hours and a 14.29% increase over the past week. With a circulating supply of 120 million JTO, Jito’s market capitalization stood at $36.9 million.

Meanwhile, Solana (SOL) was trading at $177.37, with a trading volume of $4.4 billion, reflecting a 4.37% price increase in the last 24 hours and a 9.64% increase over the past week.

The post Jito’s Restaking Platform: A New Way to Earn Rewards on Solana appeared first on Coin Edition.

XRP has once again surged above the $0.6 price level. 

The altcoin is up almost 28.5% in the past 30 days. 

The upcoming RLUSD and possibilities of an XRP ETF can push XRP to $1.

XRP, the seventh-largest cryptocurrency by market capitalization, has rebounded to the $0.60 price level after dipping as low as $0.58 in the past 24 hours. Analysts suggest that if the altcoin can maintain this level, investors could witness a bullish move towards higher prices in the near future.

As of this writing, CoinMarketCap data shows XRP trading at $0.6081, up around 1% in the past 24 hours. However, the trading volume of the digital asset has decreased 6.45%, currently standing at $2 billion with a market cap of $34 billion. Notably, XRP has shown substantial gains recently, up 9.15% in the past week and 28.49% in the past 30 days.

According to the daily chart from TradingView, the altcoin experienced a significant surge with six consecutive bullish daily candles followed by three consecutive green candles. The bulls remain in control of the XRP price action.

The Relative Strength Index (RSI) is valued at 64.17, indicating that buying pressure remains strong and traders may enjoy higher prices in the short term. The token was overbought a few days ago, but RSI levels are gradually declining, suggesting a slight decrease in buying pressure. However, the gradient of the RSI suggests that XRP may maintain the $0.60 price level.

Importantly, XRP’s price action has also benefited from speculation about a potential settlement between Ripple and the U.S. Securities and Exchange Commission (SEC). While CEO Brad Garlinghouse has not commented on the chances of a settlement, a closed-door meeting is expected to take place between the two entities to discuss the accusations.

The launch of Ripple’s stablecoin is also anticipated to boost XRP’s price. The U.S. dollar-backed stablecoin, termed RLUSD, will launch on both the XRPLedger and the Ethereum blockchain, aiming to disrupt the stablecoin sector currently dominated by Tether’s USDT and Circle’s USDC. Additionally, speculation about a potential XRP exchange-traded fund (ETF) further contributes to a bullish outlook for the digital asset.

The post Ripple’s XRP Surges Past $0.60, Fueled by Settlement Rumors and Stablecoin Launch appeared first on Coin Edition.

Ether fell 5% on July 25 and is up 2.3% at the time of writing, trading at $3,252.

The spot ETH ETFs recorded net outflows worth $152 million on Thursday.

Grayscale’s ETHE has recorded net outflows worth $1.16 billion since July 23.

Despite the recent approval of spot Ethereum exchange-traded funds (ETFs) by U.S. regulators, Ether (ETH), the native cryptocurrency of the Ethereum blockchain, has continued its downward trajectory, raising concerns among investors.

CoinMarketCap data showed ETH trading at $3,252 at the time of writing, up 2.3% in the past 24 hours. However, ETH had dropped from the highs of $3,500 to the $3,100 price level in the past few days, leaving market participants anxious on the token’s price trajectory.

Notably, ETH is down almost 5% in the last seven days, 4% in the past month, but remains up 75% since July 2023. On the other hand, Bitcoin (BTC) posted a massive 4.4% gain in the past 24 hours and is currently trading around the $67,000 price region with a 5.63% surge in the trading volume of the digital asset.

A major reason for the decline in Ether’s price is the outflows from the spot Ethereum ETFs, majorly from the Grayscale Ethereum Trust (ETHE). According to the data from SoSoValue, the spot ETH ETFs witnessed new outflows worth $152 million while $346 million left ETHE alone. Since July 23, a whopping $1.16 billion has flowed out of ETHE.

On the other hand, BlackRock’s ETHA saw inflows worth $70 million and Bitwise’s ETHW recorded $16.34 million in inflows. ETHA’s cumulative net inflow stands at $354 million, which is a fraction of its spot Bitcoin ETF inflows, which stand at $19.7 billion. This disparity highlights a much higher demand for BTC compared to ETH.

As per the chart provided by TradingView, Ether fell almost 5% on July 25 amid a broader lackluster performance in the U.S. stock market on Wednesday while the volumes remained low.

The Relative Strength Index (RSI) has a value of 45.33 which confirms that the sellers are currently in control of the ETH price action. However, the gradient of the line suggests a possible sudden spike in the buying pressure as investors take advantage of lower prices.

The post Ethereum’s Paradox: ETF Greenlight Fails to Lift Ether Prices appeared first on Coin Edition.

Cardano entered the Voltaire era with node 9.1.0 release.

On-chain governance activated, empowering ADA holders.

Chang hard fork imminent, advancing decentralization goals.

Cardano has officially entered its “Voltaire” era, a significant step towards achieving full decentralization and community governance.

Founder Charles Hoskinson announced the milestone on X (formerly Twitter), marking the completion of the network’s node 9.1.0 upgrade, which paves the way for the “Chang” hard fork and the implementation of key governance components.

This is it. End of the line, node 9.1 is Voltaire. Happy upgrading SPOs. Welcome to Chang https://t.co/Z3Fy3uHXER

— Charles Hoskinson (@IOHK_Charles) July 25, 2024

The node 9.1.0 release was initially announced by Intersect, a member-based organization for Cardano. While Intersect acknowledged the release as a pivotal step toward bringing on-chain decision-making to Cardano, Hoskinson heralded it as the transition to the Voltaire era.

Earlier this month, Cardano released node 9.0.0, setting the stage for the Conway Ledger era. Key features of that upgrade included on-chain governance through SOP 1694, support for Plutus V1, support for Plutus script signature through SIP 69, and more.

During the upgrade announcement, Hoskinson stated that Stake Pool Operators (SPOs) would be responsible for independently testing the node and setting the upgrade date. He added that Cardano would move to the Chang era when a minimum of 70% of SPOs had upgraded. Commenting on the Chang hard fork’s potential to significantly impact the entire Cardano ecosystem, Intersect previously wrote:

“The Chang Upgrade affects the entire Cardano ecosystem, particularly Stake Pool Operators (SPOs), Exchanges, and Decentralized Applications (DApps). For the upgrade to proceed, the community must reach 70% of the SPOs upgraded and 85% of Exchange liquidity on the Chang mainnet candidate. This ensures a robust and coordinated transition to the new governance model.”

Notably, Cardano 9.1.0 boasts features that will enable the blockchain to undergo the imminent Chang hard fork. The new node includes multiple bug fixes and enhancements to the CLI and API. It also includes a “query treasury” command and the changes necessary to ensure compatibility with CIP69 and CIP119. One of the main changes in node 9.1.0 from the previous phase is the requirement of a Conway genesis file at startup.

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