Per the esteemed Hashrate Index and Glassnode, traditional mining profitability has dwindled to the size of a moth’s whisper. Record-high network difficulty and hardware costs have rendered it a relic of the past. But fear not! Cloud mining, hashrate leasing, and financialized mining products have arrived like a well-dressed savior at a dinner party-late, but ever so stylish.
Bitwise’s Solana ETF ($BSOL), with the grace of a court jester tossing confetti, has raised a staggering $69.5M on its debut-proof that institutions now stake their fortunes on crypto with the enthusiasm of a drunkard at a pig roast.
With deep accumulation underway and trading stability around $0.30-$0.33, XLM crypto appears to be entering the final consolidation phase before a potential parabolic expansion. Because who doesn’t want a rocket ship? 🚀
XRP’s chilling at $2.85, down 1% in the last 24 hours. But who cares about a tiny dip when there are seven XRP ETF filings waiting for the SEC’s golden stamp of approval? Seven. That’s like seven chances to make your crypto dreams come true. Or seven chances to watch the SEC say, “Not today, honey.” 👀
The timing, of course, is impeccable. Just months after the government sold 50,000 Bitcoins (now worth a modest $6.5 billion) like a grumpy uncle auctioning off his nephew’s childhood toys, the AfD now suggests Bitcoin might actually be useful. One must commend their political somersaults. With Bitcoin trading at $115,000, they’ve transformed from crypto-sellers to crypto-soothsayers in a manner that would make a chameleon blush. 💰
$XRP is once again ignoring the broader market while Bitcoin and Ethereum decline red. (Because XRP is the diva of the crypto world. 🎭)
As a researcher tracking the crypto ETF space, I’ve been following the launch of the Bitwise Solana Staking ETF, or BSOL. It started trading on October 28th and saw a strong first day, with $55.4 million in trading volume and $217.2 million in assets under management. The fund aims to stake 100% of its holdings in Solana, and we’re seeing an anticipated average staking reward of around 7%.
In a spectacle reminiscent of a never-ending feast in Sonechka’s parlour, a gaggle of Senate Democrats, whose spirits match those of the great Woland himself, have made it their mission to unravel the cosmic intricacies surrounding President Trump’s magnanimous pardon of Binance founder Changpeng Zhao, affectionately known in the annals of mystery as CZ. Ah, the potential conflicts of interest! They shine as brightly as a silver-domed cup in their search, tilting at the financial entanglements with none other than the illustrious Trump-linked enterprise, World Liberty Financial.
Ah, it whispers of impending revolutions in the stablecoin payment ecosystem. Whether Ethereum will cling to its throne or abdicate remains a drama yet to unfold. 🎭🤔
The September Consumer Price Index (CPI), that monthly oracle, spoke softly: a mere 0.3% rise, less than the soothsayers predicted. The Federal Reserve, the grand puppeteer, might loosen its strings, and the equities, those wild mustangs, bolted to new heights. The S&P 500 and Nasdaq, their manes aflame, galloped as risk appetite returned, a hungry wolf at the door. 🦅💼