Web3 🌒 Saturday Highlight: Meme Madness, ETF Milestone, Stablecoin Wobbles & Problem Related to Saga Phone
1/ 💵 Solana Surges Towards $100 on Meme Coin Wave.
2/ 🧐 Bitcoin ETF Approval Nears Crucial Stage.
3/ 📝 GHO Depegs, Receives D Grade From Bluechip.
4/ 💥 Saga Orders Canceled After Inventory Mishap.
For further details, let's keep reading! 👇
Welcome to today's web3 news! In this post, we will take a look at interesting news in the world of cryptocurrency. From Solana's meme-fueled surge towards $100 to the potential approval of the long-awaited Bitcoin ETF. We'll also explore the wobbly performance of GHO, the stablecoin aiming to be your dollar-pegged BFF, and peek into the saga surrounding Solana's new Saga phone and its inventory woes.
Stay tuned for more detail!
1/ Solana Surges Towards $100 on Meme Coin Wave. 💵
Solana's on fire, nearing $100 fueled by a meme coin frenzy and booming DeFi!
Doge-themed Bonk and its meme coin buddies have exploded, attracting retail investors and boosting overall Solana interest. DeFi on Solana's thriving too, with value locked surging to $1.3 billion. Even with FTX selling its massive SOL holdings, Solana's year-to-date gains are a whopping 830%! Google searches for Solana have skyrocketed, and analysts expect retail interest to keep driving the price up.
Shaurya Malwa
2/ Bitcoin ETF Approval Nears Crucial Stage. 🧐
Bitcoin ETF hopefuls face one final hurdle before the SEC's January deadline: getting clear on who can buy and sell shares – authorized participants. This involves ditching "in-kind" transactions (swapping other assets for Bitcoin) and sticking to cash-only buys, likely to satisfy the SEC's concerns about market manipulation and unregistered entities handling BTC. Speculators see the flurry of recent meetings and rule tweaks as signs the SEC might finally be ready to approve at least some of the dozen-plus applications after a decade of waiting.
Stacy Elliott
3/ GHO Depegs, Receives D Grade From Bluechip. 📝
GHO, the stablecoin aiming to be your crypto BFF pegged to the dollar, is wobbling. Despite a near-$1 high in November, it's been dipping and currently hovering around $0.98.
This performance earned GHO a D grade from Bluechip, the crypto equivalent of a strict teacher. They pointed out the lack of strong mechanisms to keep GHO glued to the dollar, making it more likely to nosedive than reach its $1 goal.
Jamie Redman
4/ Saga Orders Canceled After Inventory Mishap. 💥
Solana's sleek Saga phone launch is facing hiccups. Order cancellations and inventory woes plague the early days, fueled by a mix of high demand and distributor blunders. While some lucky buyers snag their phones, others face disappointment. Inaccurate inventory counts by a third-party caused unexpected cancellations after the phones sold out. Solana also canceled suspicious orders, aiming for fair distribution.
Soaring Solana and Bonk prices fueled Saga's fire. Each phone boasted a hefty Bonk airdrop, initially exceeding the $599 price tag. Resellers even listed Sagas for thousands on eBay! However, not all sunshine and Bonk coins. Tech YouTuber Marques Brownlee slammed Saga as "Bust of the Year," citing hefty bugs and a lukewarm experience.
Hongji Feng
Conclusion:
Overall, the cryptocurrency landscape is always volatile. While some coins like Solana and Bitcoin ETFs shone brightly, others like GHO stumbled. As always, it's crucial to do your research and invest wisely in the ever-evolving world of crypto.
Disclaimer: The information provided in this blog post is based on external sources. Please do your own research and due diligence before making any investment or financial decisions based on the content shared here.
