Web3 🌘 Thursday Developments: Solana, Bitcoin, ETH, and PayPal UK
1/ 📈 Solana soars 20% as rally continues.
2/ 💠 Coinbase launches Bitcoin and ETH Futures for US.
3/ 🧐 FTX holdings soar a year after Bankman-Fried's downfall.
4/ ✅ PayPal UK secures crypto regulatory approval.
For further details, let's keep reading! 👇
Welcome to today's Web3 news update!
The cryptocurrency market is seeing a surge in activity. Solana (SOL), Bitcoin (BTC), Ethereum (ETH), and PayPal UK have all seen positive developments, suggesting that the crypto industry is poised for continued growth.
Stay tuned for more updates on the developments in the rapidly evolving world of crypto!
1/ Solana soars 20% as rally continues. 📈
Solana has been on a tear lately, soaring 20% in the past day and 88% in the past 30 days.
There are a few reasons for Solana's recent surge in popularity. First, the blockchain has been gaining interest from developers, who are using it to build decentralized applications such as DeFi lending protocols and games. Second, Solana is seen as a viable alternative to Ethereum, which is often criticized for being slow and expensive to use. Third, asset management company VanEck recently predicted a potential 10,600% price increase for Solana in the coming years.
While it's difficult to say whether Solana will continue to perform so well in the long term, its recent surge is a sign that it is becoming a major player in the cryptocurrency space.
Mat Di Salvo
2/ Coinbase launches Bitcoin and ETH Futures for US. 💠
Coinbase has launched Bitcoin and Ethereum futures contracts for US retail traders. The contracts are available on the Coinbase Advanced platform and are sized specifically for retail traders, with 1/100th of a Bitcoin futures contract and 1/10th of an Ethereum contract available. The contracts are settled in USD.
Coinbase's launch of futures contracts is a sign of its growing ambitions in the US market. The exchange is also facing regulatory challenges from the SEC, but it is continuing to expand its global footprint.
Jimmy Aki
3/ FTX holdings soar a year after Bankman-Fried's downfall. 🧐
A year after the downfall of Sam Bankman-Fried's crypto empire, FTX the company is still in bankruptcy court, but its value has increased by around $1 billion thanks to a rally in the price of Solana (SOL), a cryptocurrency championed by Bankman-Fried.
The SOL tokens are locked up and not immediately tradable on the market, but if the price of SOL gets to $50 to $60, that "leads to 100%+ certainty for creditors."
Against all odds, FTX's fortunes have turned around massively even as Bankman-Fried's personal situation has worsened. Jurors could start deliberating his fate as soon as Thursday, the anniversary of the CoinDesk story that undid him.
Ian Allison and Nick Baker
4/ PayPal UK secures crypto regulatory approval. ✅
PayPal UK has been registered as a crypto service provider with the FCA, which will allow them to offer crypto services in the UK and autonomously approve their own crypto-related communications. This is a significant development for the crypto industry, as it demonstrates PayPal's commitment to compliance and transparency. It also sets a precedent for other players in the space, highlighting the importance of regulatory adherence for the sustained growth and stability of the crypto ecosystem.
Jane Smith
Conclusion:
Overall, the recent developments in the crypto market are positive and suggest that the industry is poised for continued growth. The surge in popularity of Solana, the launch of Bitcoin and ETH futures contracts by Coinbase, the recovery of FTX holdings, and the regulatory approval of PayPal UK are all signs of a maturing industry that is gaining mainstream acceptance.
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.
