Author: MEAOWS

Grayscale has taken a significant step toward expanding its offerings by filing to convert its existing Solana Trust (GSOL) into an exchange-traded fund (ETF). This marks Grayscale’s continued ambition to meet growing investor demand for Solana exposure in a traditional financial product format. Transition from Closed-End Fund to ETF Launched in 2021, the Grayscale Solana Trust has accumulated $134 million in assets under management (AUM). Originally established as a closed-end fund, Grayscale is now seeking approval to transform it into an ETF. This move reflects the increasing mainstream interest in Solana (SOL) and the desire for more accessible investment vehicles.…

Following the declaration of emergency martial law in South Korea, there was a noticeable increase in the movement of Tether (USDT) into the Upbit exchange, suggesting that large traders, or “whales,” were taking advantage of Bitcoin’s flash crash. These investors appear to be seizing an opportunity to purchase cryptocurrencies at a discount, indicating a classic bottom-fishing approach. Surge in USDT Transfers Reflects Bargain-Hunting Activity Blockchain data from Lookonchain revealed that more than $163 million in USDT was transferred to Upbit within an hour of the martial law announcement by South Korean President Yoon Suk Yeol. USDT, the leading stablecoin pegged…

On Tuesday evening, South Korean President Yoon Suk Yeol declared “emergency martial law,” accusing opposition parties of undermining the government and aligning with North Korea. This announcement sparked political uncertainty, which soon spilled over into the cryptocurrency market, leading to significant price drops. Bitcoin (BTC) and XRP, two of the most widely traded digital assets on South Korean exchanges, saw their prices plummet by as much as 30%. The Immediate Price Drop on South Korean Exchanges Following the declaration of martial law, Bitcoin saw a sharp decline on Upbit, one of South Korea’s largest exchanges, dropping from around $96,000 to…

Bitcoin is once again facing the critical psychological barrier of $100,000, a key milestone that traders and investors have been closely monitoring. Breaking through such significant price points in the past has never been straightforward for the cryptocurrency. Historically, it has taken Bitcoin multiple attempts to overcome round numbers, and the $100K level could follow the same pattern. Understanding Bitcoin’s Struggles with Round Numbers Round numbers, such as $10,000, $50,000, and now $100,000, often create psychological resistance in the market. This resistance is amplified in the cryptocurrency space, where emotions and sentiment play a significant role in driving price action.…

MicroStrategy (MSTR), the largest publicly traded holder of Bitcoin, is experiencing unprecedented volatility, now exceeding that of Bitcoin by more than 2.5 times. While this elevated volatility may raise concerns for some market participants, it also presents lucrative opportunities for options traders. MSTR’s Volatility Surge MicroStrategy’s 30-day implied volatility (IV) has surged to 140.86%, a stark contrast to Bitcoin’s IV of 55.65%. This means MSTR shares are undergoing more drastic price swings compared to Bitcoin, which has attracted increased interest from investors looking to gain exposure to Bitcoin’s price movements without directly holding the cryptocurrency. As a result, MSTR’s stock…

Polymarket bettors have expressed significant skepticism regarding Microsoft’s potential acquisition of Bitcoin. With only an 11% probability of approval, the market indicates that shareholders are unlikely to support the motion. Michael Saylor’s Bitcoin Proposal to Microsoft Michael Saylor, the executive chairman of MicroStrategy (MSTR), recently pitched an idea to Microsoft’s board, advocating for the tech giant to add Bitcoin to its balance sheet. He argued that Bitcoin’s impressive performance, with a 1,200% rise in the last five years, could potentially strengthen Microsoft’s financial position and further elevate its $3.2 trillion market cap. Saylor believes that Bitcoin would serve as a…

Since the victory of Donald Trump in the U.S. elections, Ethereum has seen a remarkable increase in transaction revenue. This surge has led to higher staking rewards and a higher rate of ether (ETH) being burned through transaction fees, strengthening the Ethereum network’s tokenomics. Surge in Ethereum’s Transaction Activity Steno Research’s recent analysis highlights the significant growth in Ethereum’s transaction revenue. This uptick has resulted in more ether being burned through transaction fees, contributing to a deflationary effect that benefits the ETH supply. Additionally, the increased staking rewards are enhancing Ethereum’s appeal as an asset, drawing more interest from both…

Ethena, a major player in the decentralized finance (DeFi) space, has formed a strategic partnership with Derive.xyz, a leading on-chain derivatives platform. This collaboration is set to improve liquidity, drive growth, and offer additional rewards for users across both platforms. The partnership involves a substantial multi-million dollar investment aimed at boosting both ecosystems. Key Details of the Partnership As part of the partnership, Ethena will integrate Derive’s range of products, such as options, futures, and basis trading, into its platform. By leveraging Ethena’s USDe stablecoin and staked USDe (sUSDe), this collaboration will significantly increase liquidity and trading volume. The integration…

Despite the political buzz dying down after the U.S. election, Polymarket has proven its resilience, maintaining a loyal user base and steady market activity. Data from recent weeks reveals that the platform continues to hold strong, even in the absence of high-profile political events. Polymarket’s Post-Election Stability In the wake of the U.S. election, it was expected that Polymarket would see a dip in user engagement, given the decline in political betting. However, recent data indicates that the platform has weathered this transition well. Open interest—the total value of active positions—did experience an initial decline, dropping to $93 million by…

The U.S. government has moved a substantial amount of seized Bitcoin, prompting discussions about potential market consequences. The movement of these assets, linked to the infamous Silk Road case, could signal upcoming market actions by the government. Major Bitcoin Transfer Raises Eyebrows In a significant move on Monday, the U.S. government transferred approximately 19,800 BTC—worth nearly $2 billion—to Coinbase Prime, a major exchange platform. These Bitcoin holdings, originally seized from the Silk Road dark web marketplace, were shifted to a fresh address, sparking speculation that the government might be preparing to sell or liquidate these assets. Blockchain tracking reveals that…