🔻 Bitcoin Slips Under $54K As Mt. Gox Repays
In today’s edition: 🎧 Ethereum & Solana ETF buzz, 📉 Mining difficulty to fall 5%, 🛫 Web3 daily users soar to 10M, and more!
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Bits + Bips: Ethereum and Solana ETFs and Why Crypto Is Poised for a Breakout
This episode of Bits + Bips explores the impact of political outcomes on Solana ETFs, the SEC’s delay on Ethereum ETFs, bitcoin’s performance against the NASDAQ, and more.
Are Solana ETFs on the brink of approval? How might political outcomes influence this decision?
Join hosts James Seyffart, Alex Kruger, and Joe McCann as they delve into the latest buzz around Solana’s potential spot ETFs, dissect the SEC’s puzzling delay on Ethereum ETFs, and debate why bitcoin’s recent performance has diverged from the NASDAQ.
They also discuss the US presidential election, the event that Alex says was the “second most bizarre thing” he’s seen in his life, what the bond market seems to indicate about expectations for a Trump presidency, and how upcoming nonfarm payroll reports and potential rate might affect the markets.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
What’s Poppin’?
by Sam Sriram
Bitcoin Drops Under $54,000 as Mt. Gox Starts Repayments
A wallet tied to Mt. Gox moved $2.71 billion BTC from cold storage to a new wallet as the exchange announced it had started making repayments in bitcoin and bitcoin cash.
Daily Bits… ✍️✍️✍️
⚒️ Bitcoin's mining difficulty is set to drop by 5%, its second-largest decline since the FTX collapse, as miners face reduced rewards and lower hash prices.
📈 Web3 applications hit a milestone with 10 million daily active users, marking a 40% increase last quarter, driven by growth in SocialFi and NFTs.
💰 Jupiter Exchange will distribute $60 million in rewards to users involved in the JUP DAO vote, while crypto exchange Upbit has listed JUP in multiple markets.
🇰🇷 South Korea is tightening crypto regulations with new guidelines and a 24-hour real-time monitoring system to enhance investor protection and prevent fraud.
🇬🇧 Reform UK candidate David White, associated with the BuddyX crypto scheme, failed to win the South Barnsley seat in the UK general election.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 5.2%, trading at $54,965
ETH is down 8.1%, trading at $2,913
BTC dominance: 51.4%
Crypto market cap: $2.10T
*All data as of today, 07:00 am ET. Source: CoinGecko
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