It’s Been a Good Week in Crypto!
TL;DR
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Bitcoin is up ~10% on the week, due to some optimistic information – but it surely was Solana that lead the market in beneficial properties, climbing 25%+ over the weekend.
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One of many darker clouds looming over SOL’s value has been the truth that FTX owned a bunch of SOL tokens.
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The worry being that the brand new house owners would promote them off within the chapter course of – however late final week, the alternative occurred!
Full Story
Bitcoin is up ~10% on the week, due to some optimistic information – but it surely was Solana that lead the market in beneficial properties, climbing 25%+ over the weekend.
This is what drove these beneficial properties:
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Final Wednesday, BlackRock amended its spot Bitcoin ETF utility, which implies the agency is one step nearer to bringing Bitcoin to the inventory market.
(Which might doubtless convey an enormous wave of funding into Bitcoin).
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Later that very same day, JP Morgan launched a report saying it is probably {that a} spot Bitcoin ETF might get permitted earlier than January 10.
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As for Solana, one of many darker clouds looming over the undertaking’s value has been the truth that FTX owned a bunch of SOL tokens.
The worry being that the brand new house owners would promote them off within the chapter course of – however late final week, the alternative occurred!
The FTX property determined to stake roughly $122M value of SOL, taking it off the market.
It is charts like these that make us really feel as if crypto winter could also be thawing, and we could also be getting into the lengthy awaited spring ☝️👇
