Solana ETF 'inevitable' 🤔

Meanwhile, Bitcoin sees a surge and regains strength in the wake of Mondays dip below $50,000.

Author

Ryan Ozawa
August 09, 2024

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📝 What you need to know

After starting the week with a precipitous plunge below $50,000, Bitcoin is hovering above $60,000 on Friday—even tapping $62,000 as additional U.S. economic data cooled concerns over an imminent recession. BTC is now up over 4% over an especially volatile seven days.

The price of Ethereum is still down 13% over the same span, although it spiked late yesterday over $2,700 amid some encouraging signs, from increased volume to growing open interest among investors.

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Solana ETFs 'Inevitable' in US After Brazil Approval, Says VanEck Exec

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WazirX Restoring Account Balances to What They Were Before the $230 Million Hack

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🎓 LEARN: Getting Started with Institutional Staking

Earn a free NFT by taking our course, “Getting Started with Institutional Staking,” in partnership with Figment. Learn all about how proof of stake blockchains work, how to earn rewards through staking, and the various staking solutions available to retail and institutional investors.

💬 Quote of the Day

❝

“Brazil's approval of a SOL ETF signals that a U.S. counterpart isn't just a possibility—
it's as inevitable as the next block in the chain.”

—Matthew Siegel, VanEck

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From Our Partner

DeFi network Radix has created RadQuest, a gamified onboarding platform, to make getting started with the Radix ecosystem fun and simple. Join RadQuest mascot Jetty on a series of quests that showcase Radix’s user-friendly interface and unique features, collecting Elements and Morph Energy Cards to build your own unique RadMorph NFT.

📚 Dive Deeper

📹 WATCH: FOMO Hour 175 - The FTX Saga Continues

BTC ETFs grow $45 million, ETH ETFs down $24 million. XRP settles with the SEC for $125 million, rises 20%. FTX ordered to repay $12.7 billion.

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