Category: Cryptocurrency

Why Solana’s Latest Move Could Skyrocket It to $500!

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Hamilton Lane, a global investment firm with over $920 billion in assets under management, has taken a bold step into the world of blockchain. The firm is launching its Senior Credit Opportunities Fund (SCOPE) on the Solana blockchain through a partnership with Libre, an institutional Web3 infrastructure provider. This move marks a significant milestone in the adoption of digital assets by mainstream financial institutions.

What This Means for Solana Users

This partnership allows Solana users to access Hamilton Lane’s SCOPE fund via a feeder fund structure. Accredited, professional, and institutional investors can now directly access top-tier funds on-chain, including Brevan Howard’s Master fund and BlackRock’s ICS Money Market fund. This initiative provides greater transparency, efficiency, and accessibility for investors, aligning with Hamilton Lane’s objective to democratize access to private market investments.

Source : X.com (Formerly Twitter)

The Power of Tokenization

Victor Jung, head of digital assets at Hamilton Lane, emphasized the significance of this partnership. He highlighted that it positions Hamilton Lane as a leader in the tokenization of private market funds, leveraging Solana’s low latency and high throughput capabilities to expand access to historical strong returns and performance opportunities. The tokenization of real-world assets (RWAs) like private credit, cash, real estate, and artwork brings these assets onto the blockchain, creating greater liquidity, transparency, and accessibility.

A Leap Forward for Alternative Assets

Alternative asset managers have increasingly explored tokenization as a way to expand fund distribution. Hamilton Lane has been particularly active in leveraging blockchain technology to widen access to its investment funds. Recently, it participated in a $47 million funding round by Securitize, a platform focused on tokenizing real assets. The SCOPE fund is also available through Securitize, demonstrating Hamilton Lane’s commitment to innovative investment accessibility.

Expanding Investment Opportunities

Libre’s chief executive and founder, Dr. Avtar Sehra, called the launch of the Libre Gateway on Solana a significant advancement. This step enables access to wealth and treasury management tools for users on Solana and allows Libre to introduce new and innovative services. Libre plans to roll out additional services to Solana users over the coming year, reflecting a broader trend among asset managers to explore tokenization for expanding fund distribution. Solana is currently trading at $178 and experts believe funds like this will be the supporting stone to pump solana towards $500 towards the end of this year.

The Future of Fund Management

The integration of Hamilton Lane’s SCOPE fund into the Solana blockchain represents a significant step in the evolution of investment fund distribution. By leveraging blockchain technology, the company aims to provide greater transparency and efficiency in fund management while democratizing access to high-performing investment opportunities. This partnership underscores the transformative potential of blockchain in the financial sector, setting a new standard for the future of fund management.

Also Read : Top 10 Cryptos Trade in Red Zone: Will Solana (SOL) Price Reverse the Trend & Reclaim $180?

Impact of ETH ETF Launch on Ethereum & Altcoins

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With the Ethereum ETF starting to trade today, the broader market anticipates a bull run in Ethereum and altcoins. Despite a recent 2.69% drop in ETH price, the hype is under the weather and warns of a potential slow start. 

Nevertheless, a potential positive inflow and the initial hype could increase Ethereum and altcoins this week. So, let’s take a closer look at the price analysis of Ethereum and other top altcoins likely to surge this week.

Ethereum Drop Before ETF Launch: Will ETH Surpass $4,000?

With a bearish Monday, Ethereum starts the week with a 2.69% drop and tests the 50D EMA. In the short term, the sideways shift above the dynamic support hits the pause button on the 20% recovery rally from $2,880. 

TradingView

Despite the bullish struggle to reach the overhead resistance trendline, Ethereum ETF trading today could pump the prices ahead. The MACD signal lines are losing the gap and warn of a bearish crossover. 

Considering the bull run picks up pace, the ETH price could surpass the overhead trendline and the 50% trend-based Fib level at $4,141. Optimistically, the bull run could reach $5,402 by the end of this week if the ETF net flow remains positive. 

Solana’s Struggle At $190 Warns Price Drop

With a double bottom reversal from $128, the SOL price is up by 37%, including the 4.70% decline from the $185 peak. The recovery rally in the SOL price teases an inverted head and shoulder with the neckline at $188.

Tradingview

A potential breakout of the $190 peak will unleash the trapped momentum for a boost to $250. With the Ethereum ETF starting to trade today, the bull run in Solana could gain momentum as SOL ETF is the next likely altcoin ETF. 

Hence, in the coming weeks, Solana is likely to hit the $346 mark or the 2.618 Fib level. 

Dogecoin (DOGE)

With a bearish channel breakout, the DOGE price has surpassed the merged 50D and 200D EMA. Further, the recovery rally accounts for a 27% rise in the last 12 days. Currently, the meme coin retests the broken trendline and the dynamic supports. 

Tradingview

With a post-retest rally powered by broader market recovery, the meme coin could challenge the 50% trend-based Fib level at $0.1589. A potential golden crossover will fuel the breakout rally to hit the $0.24 mark in the coming weeks. 

Can a Pro-Bitcoin Government Propel Bitcoin to $150,000? Examining Trump’s Pro-Crypto Position

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Russell Starr, Former CEO and Head of Capital Markets at DeFi Technologies, opened up about Bitcoin and the impact of elections on Bitcoin price. In an interview with David Lin, Russell discussed the movements in stock markets observed on the Monday following the attempted assassination of former President Donald Trump. He attributed the market shifts to several key factors.

“The most crucial factor, in my opinion, was the cessation of Bitcoin sales by the German government,” Russell said. This reduction in selling pressure contributed to a more stable and potentially bullish market environment for Bitcoin.

Additionally, Trump’s evolving stance on cryptocurrency was discussed as a pivotal element. Trump has increasingly positioned himself as a pro-crypto libertarian, advocating for the integration of cryptocurrency into the US economic framework. This alignment is further evidenced by Trump’s running mate, JD Vance, who supports a weaker US dollar to bolster the US economy.

Combining these factors—a reduction in Bitcoin selling by the German government and Trump’s pro-crypto stance—has led to a stronger Bitcoin price, according to him. A continued upward trend in Bitcoin’s value is predicted, especially if Trump secures a victory and further vocalizes his support for Bitcoin.

“I wouldn’t be surprised that with a Trump victory you see it moving into that $150,000 level. This is a huge trading opportunity for individuals,” he added.

Discussing Trump’s shift in perspective, he said that his earlier anti-Bitcoin stance has changed considerably. Fundamentally, Trump’s platform now includes the belief that a weaker US dollar and a pro-crypto stance are beneficial for the economy. This ideological shift aligns with broader economic strategies, including skepticism about the US dollar as the global settlement currency.

Looking forward, according to him, a pro-Bitcoin government might actively adopt Bitcoin. Even if direct adoption doesn’t occur, a pro-crypto stance from regulatory bodies like the SEC could significantly impact the market. 

He also discussed how on the campaign trail, Trump has pledged to oppose Elizabeth Warren’s anti-crypto policies and halt Joe Biden’s efforts to undermine the crypto industry. Trump’s commitment to protecting crypto holders’ rights and preventing the creation of a central bank digital currency is clear.

Bitcoin (BTC) Price Is all Set To Hit New All-Time High This Week: Here’s Why

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Bitcoin has seen a dramatic rise this month, largely due to expectations that former U.S. President Donald Trump will drive the price even higher. After a nearly 20% gain since early July, Bitcoin is now trading at around $67,790. 

Veteran crypto trader Doctor Profit believes Bitcoin is on the verge of setting new all-time highs this week. With major events on the horizon, here’s what to watch for and why it’s important.

Key Events To Watch This Week

This week is crucial for Bitcoin, with former President Donald Trump scheduled to speak at the Bitcoin 2024 Conference in Nashville on July 27. However, Doctor Profit expects Trump’s speech could lead to big changes in Bitcoin’s price. 

Trump’s potential discussion on integrating crypto with AI, alongside his vice-presidential pick JD Vance, who is a known crypto supporter, could also lead to better rules for digital assets. 

In addition, President Biden’s surprising decision to withdraw from the 2024 presidential race could also benefit the crypto market. Analysts believe this political shift might positively impact Bitcoin and other cryptocurrencies in the coming months.

Moreover, the Ethereum ETF is set to begin trading on Tuesday, July 23, while the launch of the ETH ETF is expected to bring a positive trend for Ethereum. Therefore Bitwise Chief Investment Officer Matt Hougan predicts that the new ETF could push Ether’s price above $5,000 by the end of 2024. This would represent a 40% increase from its current price of $3,511.

Historical Context & Market Expectations

Further Doctor Profit points out that Trump’s upcoming speech is similar to a past event in 2021 when Elon Musk spoke at a Bitcoin conference. Musk’s speech caused a short-term drop in Bitcoin’s price, but soon after, Bitcoin soared from $29,000 to $69,000. Doctor Profit believes this time, Bitcoin will more likely rise rather than fall.

Michael Dell To Attend BTC Conference 

There are also rumors that Elon Musk might attend the conference. However, it’s possible that Michael Dell could make a surprise appearance at the conference. Dell, who has a net worth 10x that of Michael Saylor, could have a bigger impact on Bitcoin’s price than Saylor would.

Bitcoin Price Analysis

Doctor Profit’s recent predictions for Bitcoin have proven accurate. He correctly forecasted its rise from $54,000 to $60,000, and then to $66,000. Now, he’s suggesting that a new all-time high for Bitcoin is imminent. 

This prediction comes as the Fear and Greed Index recently shifted from extreme fear to greed, signaling that Bitcoin might be poised for a significant increase. This shift could be a great chance for investors to buy in.

Ethereum ETF Received Preliminary Approval to Start Trading on July 23

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The Securities and Exchange Commission has given preliminary approval to at least three of the eight asset managers, namely BlackRock, Franklin Templeton, and VanEck, that want to launch exchange-traded funds based on the spot price of ether, which will begin trading on July 23. 

The approval is dependent on applicants submitting final offering documentation to authorities by the end of this week. Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy are all in the running to offer Ether products next week.

According to sources the SEC had no further comment on the recently filed S-1. Eric Balchunas, senior ETF analyst at Bloomberg, tweeted that the SEC finally got back to issuers, asking them to file their final S-1 forms (including fees) this Wednesday, the filing would go into effect after the close of trading next Monday, in order to launch on next Tuesday. That’s of course if there are no unforeseen last-minute problems.

ETF analyst Nate Geraci says there’s no “good reason” for spot Ether ETFs not to launch this week. The ETF analyst and president of The ETF Store told X that the roster of eight spot ETH ETFs will be launched by the end of this week.

“Welcome to the spot ETH ETF approval week. Geraci noted in a July 14 X post, “I don’t know anything specific, but I can’t think of a good reason for any further delay at this point.”

Several issuers, including VanEck and 21Shares, filed updated registrations last week in the hopes of obtaining the SEC’s final approval to begin launching spot Ether ETFs.

Many analysts believe that the launch of ETFs will be a major stimulus for ETH price growth in the coming months. 

Bitwise’s chief investment officer Matt Hougan said that the spot Ether ETFs could attract up to $15 billion in inflows in the first 18 months of trading, which is around the same amount that the spot Bitcoin ETFs have received since their introduction six months ago.

If approved, the spot Ether ETFs will be listed on the Nasdaq, the New York Stock Exchange, and the Chicago Board Options Exchange.

The price of Ether has risen above $3,300, with expectations that spot ETH exchange-traded funds (ETFs) will launch as early as the end of this week.

And as of July 16, it was trading for $3,331, up 16% from $2,909 the previous week. 

Conclusion

The SEC’s approval of spot Ether ETFs has significant implications for Ether, including the perception that it is now an asset.

Investors have expressed serious concerns about the absence of regulatory guidance, which has been addressed with the introduction of Ether ETFs. While there might be withdrawals in the near term, Ethereum will benefit in the long run from increased legitimacy and fewer legal issues.

About CoinEx

Founded in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services, including spot and margin trading, futures, swaps, AMM, and financial management services for over 6 million users across 200+ countries and regions. Since its establishment, CoinEx has steadfastly adhered to a “user-first” service principle. With the sincere intention of nurturing an equitable, respectful and secure crypto trading environment, CoinEx enables individuals with varying levels of experience to effortlessly access the world of cryptocurrency by offering easy-to-use products.

Must Buy AI Tokens For Massive Upside This Crypto Bull Run!

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With top crypto tokens successfully regaining momentum, the cryptocurrency market has displayed a strong recovery over the past few days. Moreover, with a jump of 3.64%, the market is currently valued at $2.43 Trillion.

On the other hand, the AI category has displayed a similar price action by adding significant valuation to their respective portfolios. This highlights an increase in the bullish sentiment in the crypto space.

Dive in as, in this article, we have covered the top 3 Artificial Intelligence (AI) tokens that have the potential to record a massive surge in their respective portfolios during the upcoming month.

Artificial Superintelligence Alliance (FET) Price Action:

The FET price has recorded a jump of 3.26% within the past day and 23.36% over the past seven days. Furthermore, despite recording a drop of 12.36% over the past 30 days, it has recorded a YTD return of 112.37%, highlighting a long-term bullish sentiment.

TradingView: FET/USDT

The technical indicators RSI and MACD have displayed a constant rise in the bullish sentiment, highlighting increased buying-over-selling pressure for the altcoin in the cryptocurrency market.

If the market continues to gain momentum, the Artificial Superintelligence Alliance price will prepare to test its upper resistance level of $2.230. Conversely, if the bears regain momentum, the FET coin price will plunge toward its low of $1.050.

Lumerin (LMR):

Amid increased price volatility in the crypto space, the LMR price has surged 23.87% within the past day with a trading volume of $326,710, a change of +246.36%. Furthermore, it has gained 165.92% within the past seven days and 50.62% over the past month.

Lumerin Price Analysis
TradingView: LMR/USDT

The Moving Average Convergence Divergence (MACD) has recorded a constant rise in its green histogram since the month started with its averages showing a steady rise. This highlights a positive outlook for the altcoin during the upcoming weeks.

If the bulls hold the Lumerin price above its important support level of $0.02610, it will head toward its upper level of $0.04320. Negatively, a trend reversal could pull the LMR price toward its crucial support level of $0.00975 in the coming time.

Turbo (TURBO) Price Analysis:

The Turbo price has continued displaying a positive price action by adding approximately 28% within the past day and 95.64% over the past seven days. Moreover, it has surged 9.46% within the past 30 days and has recorded a YTD return of 1,556.32%.

Turbo Price Analysis
TradingView: TURBO/USDT

The technical indicator, RSI, has successfully tested its mid-point and is headed toward its overbought range, indicating increased bullish sentiment in the market. Moreover, the average records a positive trend, suggesting that the Turbo price will continue gaining value.

If the market continues trading under a bullish sentiment, the Turbo coin price will prepare to test its upper resistance level of $0.00945 during the upcoming weeks. However, if the bears regain momentum, this altcoin will retest its lower support level of $0.00452.

Bitcoin Now In French Pension Plans!

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VanEck has partnered with Inter Invest to introduce Bitcoin to French pension savings plans through an innovative Exchange Traded Note (ETN). This groundbreaking collaboration marks the first time French pension investors can gain exposure to digital assets in a regulated and secure manner. The product, the $407 million VanEck Bitcoin ETN (VBTC), provides a new way to include Bitcoin in retirement portfolios, offering transparency, security, and diversification.

A New Era for French Pension Savings

French investors have long sought reliable and regulated ways to invest in cryptocurrencies. The introduction of VBTC within pension plans is a major step towards mainstream adoption, offering a compliant method to include Bitcoin in long-term financial planning. This move signifies a significant shift in the landscape of retirement savings in France, combining traditional financial security with innovative digital asset benefits.

Robust and Transparent Investment

VBTC is fully backed and mirrors the MarketVector Bitcoin VWAP Close index, ensuring transparency and security. With a total expense ratio of 1%, it appeals to long-term investors looking for diversified options. Martijn Rozemuller, CEO of VanEck Europe, emphasized Bitcoin’s potential as a long-term asset despite its volatility, which he sees as typical for emerging assets. “We believe Bitcoin is an innovative long-term asset. Its current volatility reflects a value-seeking phase. Our ETN allows investors to access this dynamic in a regulated, easy-to-use product,” Rozemuller stated.

Meeting Market Demand for Innovation

Jean-Baptiste de Pascal, Deputy CEO of Inter Invest, expressed enthusiasm about the partnership’s role in financial innovation. “This partnership aligns with our strategy to democratize innovative financial assets. Including crypto in our retirement plan meets market demand for combining retirement preparation and digital asset diversification,” he said. This initiative addresses the growing demand from investors for modern and diversified savings options.

Regulatory Support and Skepticism

The introduction of Bitcoin ETNs in French pension plans follows the first crypto ETN listings on the London Stock Exchange, approved by the Financial Conduct Authority (FCA) for professional investors. However, digital assets still face skepticism, with the European Central Bank (ECB) questioning the legitimacy and stability of these products. Despite this, VanEck’s ongoing involvement in the crypto space shows a commitment to innovation and responding to market demand.

Bridging Traditional Finance and Digital Assets

This partnership responds to the increasing demand for financial products that combine traditional retirement planning with digital asset benefits. As cryptocurrencies gain popularity, collaborations like this will help bridge traditional finance and digital markets. By offering a regulated and transparent way to invest in Bitcoin through pension plans, VanEck and Inter Invest are setting a precedent for similar projects globally.

VanEck’s Continued Innovation

In April, VanEck enabled staking on the $150 million VanEck Ethereum ETN (VETH), providing more options for crypto investment. This move supports their strategy to offer diverse investment products in the growing cryptocurrency market. The inclusion of VBTC in French pension plans highlights VanEck’s commitment to expanding access to innovative financial products.

Conclusion

VanEck and Inter Invest have collaborated to bring Bitcoin to French pension plans. This marks a significant milestone in integrating digital assets into mainstream finance. This initiative provides French investors with a new way to diversify their retirement savings. It also sets a benchmark for other countries and financial institutions to follow. As the demand for innovative financial products grows, partnerships like this will shape the future of investment.

SEC Faces Judicial Setback as Cybersecurity Regulation Bid Dismissed

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The ongoing XRP lawsuit has drawn attention to yet another setback for the U.S. SEC, highlighting challenges in its regulatory authority. The SEC’s latest defeat in the SolarWinds case came when a federal judge dismissed its attempt to regulate corporate cybersecurity controls. One of the known lawyers took a jab at Gary Gensler’s ruling and his latest defeat, which marked the end of the SEC’s overreach. 

SEC’s Major Setback: Judge Dismisses SEC’s Cybersecurity Regulation Effort

For a long time, the SEC has been arguing for broader regulatory power over all internal controls of public companies, including cybersecurity measures. However, U.S. District Judge Paul A. Engelmayer ruled against this, stating that such an extension would give the SEC overly broad regulatory power.

Judge Engelmayer’s decision emphasized that the SEC’s authority should remain confined to financial controls and not extend to all internal safeguards. According to the judge, accepting the SEC’s argument would allow the agency to regulate background checks, padlocks for storage, water park safety measures, and password configurations—areas far beyond its intended scope. 

A Big Relief For Corporates!

This ruling has relieved many companies worried about regulatory penalties following cyberattacks, especially in light of the 2020 cyberattack on SolarWinds, where Russian hackers infiltrated the company’s software to access federal agencies and major tech firms.

Prominent lawyer and critic of the SEC, James Murphy, known as MetaLawMan on X, has been particularly outspoken, criticizing SEC Chair Gary Gensler and calling for a reconsideration of funding for the SEC’s initiatives. Murphy’s views got the XRP community’s support, and they have long questioned the SEC’s approach to regulation. The ongoing XRP lawsuit, a hot topic with various speculations about its outcome, adds to the scrutiny of the SEC’s actions.

The Ripple vs. SEC Battle

In the meantime, the defeat in the SolarWinds case underscores the challenges the SEC faces in enforcing its regulatory agenda. It raises questions about its strategies and leadership under Gary Gensler. Ripple CEO Brad Garlinghouse has expressed optimism about the lawsuit ending soon, though he has not provided a specific timeline.

The Ripple vs. SEC battle, combined with the recent defeat in the SolarWinds case, highlights the SEC’s difficulties in asserting its regulatory power and maintaining its approach to cybersecurity and other internal corporate controls. As the XRP lawsuit continues, the SEC’s methods and leadership remain critical topics of debate within the crypto community and beyond.

Will UK Dump Bitcoin Following Germany’s Move? Another BTC Dip Coming Up?

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After Germany’s recent Bitcoin sell-off spree, the crypto market is speculating whether the UK might follow Germany’s move as the new Chancellor of the Exchequer, Rachael Reeves is under pressure to fund her economic plans. As the Britain government holds a substantial BTC stash, if Reeves decides to sell, rumors suggest a potential market dip. 

UK Currently Holds Over $4 Billion Worth Of BTC

According to a Bloomberg report, Reeves could sell the UK’s seized Bitcoin assets, valued at around £3.9 billion or $5 billion, to support her economic agenda. The Britain government had acquired these Bitcoin holdings through legal actions, including a major case against money launderer Jian Wen. The Crown Prosecution Service secured Wen’s assets, including BTC, valued at around £2 billion at the time. 

Since crypto was absent from Prime Minister Keir Starmer’s manifesto, questions prevail over how the new administration will treat BTC and cryptocurrencies after a landslide victory. The previous Conservative-led regime, led by former PM Rishi Sunak, had sought to implement comprehensive crypto regulations and transform Britain into a global Web3 innovation hub.

Will the UK Follow Germany’s Move?

According to data from crypto intelligence platform Arkham, the UK government held roughly 61,245 Bitcoins as of July 19, worth more than $4 billion. With the current value at £3.9 billion, Reeves has a substantial resource at her disposal. However, selling the assets could result in a substantial dip in BTC price, similar to what occurred after Germany’s recent huge Bitcoin sell-off. Notably, the German government sold nearly 50,000 BTC, contributing to a 15% price drop. 

Is There An Alternative Way Out?

While selling the bitcoins could provide quick funds for Reeves’ economic plans, the move could lead to market volatility, and BTC could dip further affecting the broader crypto market. However, Reeves might consider balancing the immediate financial gain against the probable long-term market consequences. The report suggests that a more strategic approach might involve relaxing crypto regulations to offset the potential market impacts. 

The alternative path is to hold BTC, wait for higher prices, and even acquire more as a reserve asset. Notably, MicroStrategy and its founder, Michael Saylor, have lauded crypto as a superior inflation hedge. Sovereign nations like El Salvador under President Nayib Bukele have also advocated BTC investments and made millions of dollars in unrealized profits. 

Bytecoin’s Charlie Morris noted the UK’s current anti-crypto stance. Easing regulations could pull investment and display the new government’s support for technology and innovation. Such a move might mitigate the negative effects of a BTC selloff. 

Market Awaits Reeves’ Decision While Bitcoin Recovers

Market analysts and crypto enthusiasts will closely watch Reeves’ decision. With international criminals increasing use of BTC, more crypto assets could come under government control. 

Bitcoin has recovered from its recent dip and is trading above the $65,000 mark. Over the past day, it has dropped to $63,246 depicting the volatile market scenario. Its trading volume also rose over 14% reaching $32 billion as of writing. It is currently trading at $66,340. 

Here’s the Roadmap for the BTC Price for the Next 48 Hours!

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Ever since the BTC price has risen above one of the key resistances at $64,000, the value has remained consolidated within a range. The bears had been somewhat dominant in the past couple of days but they seem to have remained dormant since the early trading hours. This could have offered a strong boost to the bulls, but the current trade setup suggests the price is stuck within a decisive phase. 

Bitcoin made some corrections in the short term but the bulls remain vigilant as the support at $64,000 has been defended. However, the support zone is expected to become brittle after some time which may drain the price lower. The STF trade set-up suggests the price may drop to $63,300 during the weekend which may increase the volatility of the entire crypto space. 

The short-term chart of the BTC price suggests the token is trading within a decisive triangle after breaking above the descending parallel channel. The bulls and bears have a restricted approach due to which the price remains tangled within the zone. Besides, the StochRSI is attempitng to trigger a rebound from the oversold zone, which is expected to offer a strong push to the BTC price. However, to trigger this, the price needs to drop to the lower support of the triangle, below $63,500. 

The bulls appear to be waiting for a buying opportunity, while the bears are waiting for a higer target to extract the profits. The weekends have been a game changer for the Bitcoin price in recent times and hence the upcoming couple of days may drag the prices lower, followed by a notable rebound in the price.