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Why There Will Be Several XRP & Solana ETF Filings This November?

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5 months ago

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Since Trump’s re-election, Bitcoin and other altcoins such as XRP or even ADA price surged on expectations of less strict cryptocurrency regulations during his administration.  Several new ETF filings, among which  are XRP and Solana, are expected during  November.

Many investors hope his favorable attitude toward cryptocurrencies will translate to laxer policies, perhaps encouraging more spot altcoin ETFs beyond Bitcoin and Ethereum. However, many issuers have been holding off until after the election, believing that  many could see their ETFs pass under a Trump administration.

As discussions swirl around the possible departure of SEC Chair Gary Gensler and an incoming crypto-friendly successor, the timing is ripe for such filings taking center stage.

Crypto Prices Soars on Trump Re-Election, Spot XRP, Solana ETF Hopes Rekindled

Since Trump’s re-election, Bitcoin and other altcoins have surged on expectations of less strict cryptocurrency regulations during his administration.

Recently, the CEO of ETF Institute, Nate Geraci, expects an array of new applications for spot cryptocurrency ETFs this week. Although the SEC has certified many spot Bitcoin and Ethereum ETFs in recent years, it has denied most of the rest. With hope rejuvenated following Trump’s appointment, says Geraci, applications for spot ETFs on XRP, Solana, Cardano, and other altcoins could be in this week as well.

Geraci added that many issuers have been waiting on the US election results and are now poised to move forward, believing Trump’s administration will smooth the path for ETF approvals. Though the SEC already has applications for Solana and XRP under review, experts say Trump’s election raises the likelihood of approval for the SOL and other altcoin ETFs.

With rumors that the head of the US Securities and Exchange Commission, Gary Gensler, is about to leave office, names such as Dan Gallagher, chief legal officer at Robinhood, among others, have emerged at the fore as the first choices to replace Gensler after he leaves office.

During his stint on the commission, the SEC approved several Bitcoin ETFs. Gensler gave the deciding vote to the repeated filings in the face of massive protests from the crypto community. Commissioners Jaime Lizárraga and Caroline Crenshaw had initially moved to block the Bitcoin ETF approvals.

However, Gensler consistently voted with commissioners Mark Uyeda and Hester Peirce, both Republicans. He pulled off a surprise move in May when he approved multiple spot Ethereum ETFs that started trading in July.

XRP ETF Filings Surge After Trump Win, Price Skyrockets

As filed, a spate of other altcoin ETFs is on its way, including a July VanEck filing for a Solana ETF, while multiple issuers have submitted applications for a spot XRP ETF.

Asset manager 21Shares has filed a spot XRP ETF, the third such filing after Canary Capital and Bitwise. This came on November 1 and included a Form S-1 for shares to be issued and traded in 21Shares Core XRP Trust, which was to be listed and traded on the Cboe BZX Exchange.

The filing explains that the trust does not represent a direct exposure to XRP but will provide investors with indirect market access. After the news, Ripple CEO Brad Garlinghouse claimed the SEC has “lost its battle on cryptos.”

The value of XRP was up 15.7% over the week and consistently stayed above the $0.50 threshold. Its market cap currently stands at $33.6 billion. According to Amonyx, an XRP influencer, technical indicators point towards the price touching a mark of $260. That sounds too ambitious, and a realistic target in the near term would be breaking $1 this Q4.

SOL price is currently hovering around $219, marking a 2.79% increase in the last 24 hours. It’s also one of the top-performing assets among the top 20 cryptocurrencies by market cap, boasting a significant 34% gain over the past week. This impressive weekly rise has positioned SOL as a standout in the market, drawing attention for its strong upward momentum.

Trump’s Re-Election Boosts Solana’s Bullish Outlook

Throughout his campaign, Trump has uttered the ambition to make the US the world’s hub of cryptocurrency. This ambition also involves promise to replace the current chairman of the SEC, Gary Gensler, whom he has criticized for being too hard on the crypto sector.

Given the crypto-friendly stance, this could further encourage conservative investors to invest in Solana-based ETFs. On many occasions, supportive legislation has invited market confidence, and the potential for effective cryptocurrency policies under Trump’s administration could be one of the drivers for long-term investment in Solana.

While regulators are moving toward a more concrete regulatory environment, Solana is setting up for broader use cases and more sustained growth.

Solana’s recent surge above the $220 level has been considered the excitement point for many in the market. Some experts even suggest that Solana could surge to as high as $300 by the close of the year.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.

Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.

Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.

Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Pi Network Faces Community Backlash, Is Pi Coin Price Heading to Zero?

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1 hour ago

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April 2, 2025

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Pi Network seems to be losing ground as Pi Coin price continues to face strong selling pressure, dropping another 4% and slipping under $0.70. Furthermore, the PI trading activity in the ecosystem is also dropping, showing that the investors’ euphoria is fading away quickly. Also, the PI token unlocks happening over the past week and so have led to a negative sentiment.

Pi Network Faces Backlash Despite PiFest Announcement

Earlier today, the Pi Core team announced that the inaugural PiFest on the Open Network saw record participation, with over 125,000 registered sellers—including more than 58,000 active sellers—and 1.8 million Pioneers utilizing Map of Pi, while highlighting Pi’s real-world utility worldwide.

However, the community doesn’t seem to be pleased by this. Commenting on the reality of the PiFest, Dr. Altcoin noted: “Since the PiFest started, Pi trading activity in the Eco-system has been at its lowest. The only trade was selling Pi for Cash”. While slamming the core team further, Dr. Altcoin stated that the Pi co-founders “seem out of touch with the realities of the everyday Pi Community”.

Other community members have slammed Pi Core Team’s communication approach, stating that it has remained unchanged since the enclosed mainnet phase. Critics like Dao world argue that the monthly updates are too predictable and insufficient for sustaining a large and engaged community.

Community members are now advocating for a more transparent communication strategy, with calls for a new leadership figure who has a deep understanding of cryptocurrency.

Pi Network Reduces Base Mining Rate by 1.18% This Month

The Pi Network’s base mining rate has dropped by 1.18% this month, now standing at 0.0029030 π per hour. This adjustment continues the network’s trend of gradual mining rate reductions. Some community members speculate that the declining interest in mining may be linked to Pi’s current low trading value on exchanges.

Despite talks of the Pi Network listing on top crypto exchanges like Binance and Coinbase, it hasn’t fructified so far. However, the BTCC exchange stated that it has added the cryptocurrency for spot trading, but it failed to add any upward momentum to the Pi coin price.

Where’s Pi Coin Price Heading Next?

Over the past seven days, the Pi coin price has tanked by 20%, with the next crucial support levels at $0.60. Furthermore, the correction under $0.70 comes with heavy selling pressure as daily trading volumes tanked 52% to $148 million.

Pi Network is currently forming a classic falling wedge pattern, testing the lower boundary near $0.687. A confirmed breakout with volume above the $0.71–$0.72 range could signal a bullish move, potentially pushing the price toward $0.75–$0.78, where key resistance levels lie.

Source: Crypto Sat

Some market analysts still have the hope that PI cryptocurrency could reverse the trajectory to hitting highs of $3 and above.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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PENDLE Price Jumps 8% Today Amid Huge Whale Accumulation

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2 hours ago

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April 2, 2025

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PENDLE price has led the broader market gains this Wednesday, pumping nearly 8% amid bullish developments. Recent whale metrics indicated that large-scale investors bought roughly $8 million of the token, whereas a crypto exchange behemoth also listed it previously. In an upshot, traders and investors are eyeing more gains in the asset’s price due to recent advancements that underscore rising demand for the crypto.

PENDLE Price Jumps 8% Amid Bullish Whale Transactions

As of press time, PENDLE price witnessed an 8% uptick in value and exchanged hands at $3.05. The crypto’s 24-hour low and high were registered as $2.84 and $3.07, respectively.

On a keynote, the rising price action aligns with the heightened buying pressure bought by whales in recent days. The latest data from tracker Lookonchain showed that whales bought roughly $8 million worth of coins in the past 5 days. Per the data, five newly created wallets collectively accumulated the aforementioned amount.

Here Are The PENDLE Whale Addresses Captured:

-0x21fBA58b20f62397c015b1f5a15f742ad430dFA
-0x2EB48c60F4ea75fa0a0Ff5BB017EBD9f5981b8F5
-0x11DFEDf01B3FA824BbCB138159B2e6AFE43692a3
-0x981D8856f572Fb076626265114EAD67697dA5501
-0x6478C8681ADC3E7a0C17Aa1E1F0Ff16d1A61a8f6

Why Are Whales Accumulating?

Meanwhile, the rising whale accumulations and PENDLE price upswing fall in line with another bullish development. Crypto exchange behemoth Coinbase unveiled a listing for the token at the end of March last month.

As a result, large-scale investors are hoarding massive amounts of the token, aiming to capitalize on emerging market opportunities.

Historically, listings on top crypto exchanges usually usher a bullish price action as they substantially increase an asset’s market exposure, thereby welcoming more funds from investors. CoinGape previously reported another similar chronicle, wherein cryptos BROCCOLI and TUT price rallied with their listings on Binance. Similarly, the Coinbase listing appears to be a vital catalyst for driving the whale frenzy and recent price upswing.

Can Bullish Developments Fuel Bull Run Ahead?

Usual market sentiments continue to tilt in favor of bulls, given the Coinbase listing and rising whale accumulations. Further, a renowned crypto market trader has poured additional optimism surrounding the coin’s future price action with his bullish prediction.

Analyst AMCrypto recently took to X, revealing that PENDLE price is forming an “inverse head and shoulder pattern.” This pattern formation suggests that a potential trend reversal from bearish to bullish is brewing amid bullish advancements.

PENDLE price chartPENDLE price chart
Source: AMCrypto, X

In light of this dynamic, the analyst predicts that a break above $3 paves the way for a massive rally ahead. As mentioned above, the coin is currently trading above this price level. As a result, market watchers continue to weigh further bullishness on the asset’s long-term price prospects.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Will BNB Price Rally to ATH After VanEck BNB ETF Filing?

Published

3 hours ago

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April 2, 2025

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Asset manager VanEck has registered for a proposed BNB exchange-traded fund (ETF), the latest among the list of its new crypto ETF filings. As a result, the trading volume for BNB Coin has shot up by 42% to more than $2.12 billion, as analysts are now closely watching for a BNB price rally to all-time highs.

In BNB Price Ready for A Mega Rally?

BNB Coin has performed relatively well over the past month compared to Bitcoin and other altcoins. While BTC and top altcoins like ETH, SOL, XRP saw double-digit losses in March, BNB Coin is down just 1% on the monthly chart. After a strong consolidation of around $610 levels, the BNB price could be eyeing a strong breakout to new all-time highs.

BNB Burn and Pascal Hardfork Offer Support

BNB Coin features a real-time burn mechanism that permanently removes a portion of gas fees from circulation. Over the past seven days, 951.85 BNB worth $571,747.74 was burned, contributing to a total burn value of nearly $160 million, as per data from BNBBurn.

BNB’s price recently gained momentum following the implementation of the Pascal hard fork, which enhanced its compatibility with Ethereum. The network is preparing for additional hard forks this month and in June, aimed at further improving transaction speeds.

Additionally, BNB Chain is gaining a lot of popularity among meme coins, adding support for Mubarak meme coin, CZ’s Dog BROCOLLI meme coin, and others.

Looking at the technical setup, the BNB price chart shows that the altcoin is forming a cup-and-handle pattern, along with an ascending channel pattern formation, as shown in the image below.

Source: TradingView

On the other hand, BNB price is trading above the 50-day moving average, which is a positive indicator. But for the altcoin to kickstart a rally to its all-time high of $790, it must first complete the handle formation at $662, and give a breakout above that level.

As of press time, BNB Coin is trading at $603 levels with its daily trading volume up by 42%, surging past $2.12 billion. Furthermore, the Coinglass data shows that the BNB options trading volume is also up by 46%.

VanEck Files for Spot BNB ETF

$115 billion asset manager VanEck filed for the spot BNB ETF in Delaware on Tuesday, April 1, which could serve as a major catalyst for the BNB Coin rally ahead. The proposed BNB ETF would follow the price of BNB, the fifth-largest cryptocurrency by market capitalization.

Apart from BNB, VanEck has already submitted crypto ETF applications for Bitcoin, Ether, Solana, and Avalanche. VanEck filed for SEC approval last month to launch the first AVAX ETF, building on its success with spot Bitcoin and Ethereum ETFs.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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