A Week in Review: VanEck files for Solana ETF， Ether supply inflates， & Other news

Your weekly roundup of the 🔥hottest news in\xa0crypto .

June 23 - June 29

#1

Bitcoin ETF issuer VanEck files for Solana ETF in the US

VanEck hasfiled for a Solana (SOL)exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission, marking the first such filing in Wall Street. The VanEck Solana Trust aims to reflect the performance of the SOL token, excluding operational expenses. If approved, the ETF will be listed on the Cboe BZX Exchange. VanEck's head of digital assets research, Matthew Sigel, cited Solana's decentralized nature in a social media post, comparing SOL to other digital commodities like Bitcoin and Ether.

#2.

Ethereum’s supply has been inflating for 73 days straight

Ether's supply has beenincreasing for 73 days in a row, with over 112,000 ETH added since mid-April. This is the longest inflationary streak since the Merge in 2022. The recent Dencun upgrade, which aimed to reduce transaction costs on Ethereum's layer-2 networks, also significantly reduced the amount of ETH burned on the mainnet. Despite this inflationary period, Ether's overall supply has decreased by 345,000 ETH since the Merge.

Enjoying this 📰newsletter?

Discover even more ☕Hot and Fresh crypto contenthere.

#3.

UAE regulations may lead to crypto payment ban, warns lawyer

The United Arab Emirates central bankis considering new regulationsthat would require payment tokens to be backed by UAE dirhams and prohibit using cryptocurrencies for goods and services payments. These rules could effectively ban crypto payments within the country, blockchain lawyer Irina Heaver warned, adding that such regulations may signal a shift towards a less favorable stance on crypto.

#4 Prediction of the week

Bitcoin prepping breakout with ‘\\$90K+’ BTC price target — New analysis

Bitcoinis preparing perfect conditionsfor a fresh BTC price breakout, two classic indicators suggest. In recent analysis on X, popular pseudonymous trader Roman revealed a bullish continuation case in the making for BTC/USD.

Flagging the relative strength index (RSI) and Bollinger Bands on the weekly chart, he foresaw a squeeze higher as the next logical step for BTC price action.

“We are now forming a 3rd bullish divergence between Price and RSI while many are capitulating & calling for lower,” he wrote on June 21. “Bollinger Bands are also squeezing tighter - creating that volatility to send without returning.”

In a subsequent post, Roman suggested that the target of such an upside move could be well into new all-time high territory. “You all should be paying attention to this 1W close,” he told X subscribers. “We are forming more bullish continuation indications on HTF. Once volatility is built we can finally full send to 90k+.”

#5 FUD of the week

US State Dept offers \\$5M reward for OneCoin ’Cryptoqueen’

The U.S. Department of Statehas increased the rewardfor information leading to the arrest and conviction of OneCoin founder Ruja Ignatova to \\$5 million. Ignatova, known as the "Cryptoqueen," was last seen in Athens in 2017 and is wanted for fraud and money laundering. Despite being added to the FBI’s most-wanted list and previous smaller rewards being offered for information pertaining to her whereabouts, she remains at large.

#6 FUD of the week

Metallica’s X account hacked to promote crypto token

The official X account for heavy metal band Metallicawas hacked, with the exploiters using the breach to promote a Solana token with the ticker METAL. The scam, promising free crypto tokens, targeted Metallica fans by sharing malicious links. The hack happened while the band is currently out on a world tour promoting their 2023 album,72 Seasons.

Join the\xa03.5 million people who follow us on social media:

Download our official app: