FameEX Morning Crypto News Recap | November 25, 2024

ETF Store President Anticipates Solana ETF Approval by End of Next Year

Nate Geraci, president of The ETF Store, anticipates Solana ETF approval by late next year at the latest, hinting at possible SEC discussions with issuers. Alexander Blume, CEO of Two Prime Digital Assets, is similarly optimistic, highlighting applications from major players like Bitwise as a sign of industry confidence in the ETF's success and eventual regulatory approval.

Solana Achieves $6 Billion Daily DEX Trading Volume, Holding 45% Market Share

DefiLlama data on November 24 showed Solana's average daily DEX trading volume exceeded $6 billion over the past week, accounting for 45% of the market. While other leading blockchain DEXs saw significant volume declines, Solana's total value locked (TVL) rose to $9.2 billion, underscoring its growing dominance and resilience in the decentralized finance (DeFi) sector.

SEC's New Regulations Might Ignite Bitcoin Bull Market

EMJ Capital founder Eric Jackson told CNBC that upcoming crypto regulations from the U.S. SEC could trigger Bitcoin's next bull market. He pointed to global adoption growth and U.S. strategic Bitcoin reserves as crucial catalysts for driving market momentum and strengthening Bitcoin's long-term potential.

Scott Pippen Claims to Have Met Satoshi Nakamoto in 1993 and Foreseen Bitcoin's Price

On November 24, Chicago Bulls legend Scott Pippen revealed at the Cantor cryptocurrency conference that he met Bitcoin founder Satoshi Nakamoto in 1993. In a recent social media post, Pippen mentioned that Nakamoto predicted Bitcoin’s price would reach $84,650 by November 5, 2024, and expressed regret for not recognizing Bitcoin’s potential earlier.

Bitcoin's $180,000 Price Target Stays Unchanged

VanEck's latest report confirms its $180,000 Bitcoin price target for this cycle, citing key metrics like funding rates, relative unrealized profit (RUP), and increasing retail interest. The report suggests that Bitcoin's current rebound is just beginning, indicating substantial growth opportunities in the market as the cycle progresses.

SEC Enforcement Actions Secure $8.2 Billion in Fines and Restitution

The SEC's enforcement actions for the year ending September 30 yielded $8.2 billion in fines and restitution, despite a 26% drop in cases. This included $2.1 billion in civil penalties and $6.1 billion in disgorgement, with half of the total attributed to Terraform’s $4.47 billion settlement in June, highlighting its substantial impact on the year's results.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​