FameEX Morning Crypto News Recap | November 25, 2024

ETF Store President Predicts Solana ETF Approval by Late Next Year

Nate Geraci, president of The ETF Store, predicts Solana ETF approval by late next year at the latest, suggesting the SEC may already be engaging with issuers. Alexander Blume, CEO of Two Prime Digital Assets, shares optimism, noting that prominent firms like Bitwise have filed applications, reflecting confidence in the ETF's eventual success and regulatory acceptance.

Solana's Daily DEX Trading Volume Tops $6 Billion, Capturing 45% of Market Share

On November 24, DefiLlama data revealed Solana's average daily DEX trading volume surpassed $6 billion over the past week, capturing 45% of the market. Other top blockchain DEXs experienced significant trading volume declines. Meanwhile, Solana's total value locked (TVL) reached $9.2 billion, highlighting its growing dominance and resilience in the decentralized finance (DeFi) space.

New SEC Rules Could Fuel Bitcoin Bull Market

EMJ Capital founder Eric Jackson told CNBC that potential new crypto regulations from the U.S. SEC could spark Bitcoin's next bull market. He highlighted global adoption growth and the establishment of U.S. strategic Bitcoin reserves as key catalysts likely to drive significant market momentum and enhance Bitcoin's long-term prospects.

Scott Pippen Alleges Meeting Satoshi Nakamoto in 1993 and Predicting Bitcoin's Price

On November 24, Chicago Bulls legend Scott Pippen claimed at the Cantor cryptocurrency conference to have met Bitcoin founder Satoshi Nakamoto in 1993. In a recent social media post, Pippen shared that Nakamoto predicted Bitcoin’s price would hit $84,650 by November 5, 2024. Pippen expressed regret for not understanding Bitcoin's potential earlier.

Bitcoin's $180,000 Target Price Remains Firm

VanEck's latest report reaffirms its Bitcoin price target of $180,000 for this cycle. The asset management giant highlighted indicators like funding rates, relative unrealized profit (RUP), and retail interest trend, suggesting that the current Bitcoin rebound is still in its early stages, with significant growth potential ahead.

SEC Enforcement Actions Yield $8.2 Billion in Fines and Restitution

The SEC's enforcement actions in the year ending September 30 generated $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. Half of the total stemmed from one case: Terraform's $4.47 billion settlement in June, underscoring its significant impact.

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