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NYSE and Grayscale File Solana ETF for Coming Altcoin Season

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The New York Stock Exchange filed an application with the SEC to create an ETF based on Grayscale’s Solana Trust. This filing joins several other Solana and XRP ETF applications in recent days.

With Bitcoin’s dominance declining through the past month, the crypto community is already anticipating an altcoin season, and the SEC’s approval of these ETFs could significantly intensify bullish momentum.

Grayscale’s Solana ETF

With this filing, Grayscale wants to convert its SOL mutual fund into a Solana ETF, similar to what the firm did with its original Bitcoin ETF. Grayscale now joins at least four other firms that filed for a Solana ETF with the SEC in November. These include VanEck, 21Shares, Bitwise, and Canary Capital.

“The Sponsor (Grayscale) thus believes that allowing Shares of the Trust to list and trade on the Exchange as an ETP (i.e., converting the Trust to a spot SOL ETP) would provide other investors with a safe and secure way to invest in SOL on a regulated national securities exchange,” the filing read.

In late November, the SEC quietly conducted negotiations on the SOL ETF, and the talks seemed progressive. If approved, Solana would be the third cryptocurrency to have institutional investment exposure in the US, following Bitcoin and Ethereum. Solana’s price has already reacted positively to the news, with SOL surging nearly 5% on the day.

If the SEC approved this ETF product, it would open a new milestone of regulatory approval. VanEck and 21Shares applied for their own Solana ETFs the day after these rumors, and Grayscale is joining the pack. Since the filing, Solana’s price has jumped.

SOL price jump following grayscale's Solana ETF news
Solana Price Throughout Tuesday, November 3. Source: TradingView

However, Solana isn’t the only altcoin with ETF prospects. Four asset management firms have also filed for XRP ETF with the SEC. Most recently, WisdomTree filed for an XRP ETF, naming Coinbase as the custodian for the fund.

Overall, the crypto industry is awaiting a friendlier US regulatory apparatus under Donald Trump’s second term. Earlier today, Trump reportedly offered the SEC Chair position to an industry ally, signaling further beneficial policies. In other words, ETF issuers anticipate the SEC to potentially approve multiple new ETF products in the coming year.

If institutional investments follow the same trend as Bitcoin ETFs, these approvals would likely trigger a significant bull market for altcoins. Some experts are already heralding a new altcoin season, with Changpeng “CZ” Zhao hinting at it earlier today. New SEC approvals for multiple altcoin ETFs could significantly intensify these pre-existing trends.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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This is Why Coinbase Added GIGA and TURBO to Asset Roadmap

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Coinbase added meme coins Gigachad (GIGA) and Turbo (TURBO) to its assets roadmap on November 4. GIGA’s valuation briefly spiked after this announcement.

Coinbase has been adding multiple meme coins to its roadmap, with MOODENG and MOG added yesterday.

Coinbase to Add GIGA and TURBO

Coinbase, the largest US crypto exchange, has publicly maintained an assets roadmap since 2022. This roadmap includes assets that the exchange plans to list in the future, which can drastically impact underlying prices. For example, Coinbase added MOODENG to the roadmap yesterday, and its price subsequently rallied over 60%.

Given market demand, the exchange has been expanding its meme coin offerings lately. Shortly after its GIGA and TURBO announcements, Coinbase also put an explicit date on adding MOG support, just one day after putting it on the roadmap. This quick turnaround could imply speediness with the other listings, too.

“Coinbase will add support for MOG Coin (MOG) on the Base network. Trading will begin on or after 9AM PT on 5 December 2024, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our MOG-USD trading pair will launch in phases. Support for MOG may be restricted in some supported jurisdictions,” Coinbase stated.

These listings could have an outsized impact on both GIGA and TURBO. TURBO was the largest AI meme coin by trading volume in October, representing 60% of this sector alongside GOAT.

Last month, Coinbase International began offering perpetual futures on TURBO, but this didn’t have an enduring price impact.

GIGA, on the other hand, could certainly use a shot in the arm. After a promising rise, its market cap dropped nearly 85% in early November after a massive sell-off. This was apparently connected to a malware attack, and most of GIGA’s price did recover.

Still, this dramatic bite took a toll. Since the Coinbase announcement, GIGA saw a brief spike in valuation.

Gigachad (GIGA) Price Performance
Gigachad (GIGA) Price Performance. Source: BeInCrypto

At the time of reporting, Coinbase did not provide an actual date for listing these two tokens. Meme coin valuations are significantly tied to community momentum and hype bubbles, and speedy listings could help maintain interest.

In any event, Coinbase continues to show interest in this sphere, and GIGA and TURBO are likely to benefit from it.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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This is Why GraFun Labs Integrates TON for Meme Coin Growth

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GraFun Labs announced that its “legendary memepad” is now live on the TON blockchain. The announcement comes days after the platform integrated Ethereum and other blockchains.

This represents a notable step toward developing meme coins on TON. Although meme coins are surging across the crypto industry, the TON ecosystem is somewhat underrepresented.

GraFun Integrates TON

DWF Labs boosted this news after GraFun Labs’ initial announcement, but the companies’ direct collaboration on the project seems unclear. Since September, the two firms have partnered to support token launches on GraFun, helping the rise of a flourishing meme coin industry.

“We are excited to partner with GraFun to support the next generation of memecoin projects. GraFun’s…model aligns with our commitment to fostering transparency and sustainability in crypto. Together, we aim to empower emerging projects and provide them with the liquidity and support they need to succeed,” said Andrey Grachev, Managing Partner at DWF.

Both companies frequently promote each other on social media, but their exact cooperation on this TON integration is unclear. Two weeks ago, DWF launched a $20 million fund for meme coin creators, making new asset development more accessible regardless of the blockchain. Last week, the firm also promoted GraFun’s Ethereum integration announcement.

Regardless, Telegram’s Toncoin (TON) blockchain is certainly a fruitful ground for meme coin expansion. Two months ago, it launched Memelandia, a decentralized meme coin hub, to foster growth in this sector. TON’s underlying price has steadily risen this month, further aiding new profit opportunities.

Toncoin (TON) Price Performance, GraFun TON
Toncoin (TON) Price Performance. Source: BeInCrypto

As of yet, the TON ecosystem has been somewhat underrepresented in the meme coin surge. In September, Binance listed five TON assets, identifying its ecosystem as an effective avenue for crypto enthusiasts. Binance specifically highlighted Telegram’s massive user base and strong local communities, offering new chances for viral launches.

Since these listings, however, TON meme coins haven’t punched above their weight. In comparison, Solana-based meme coins brought the platform to record fees, and XRP’s recent rally significantly boosted its own meme coins. TON, however, doesn’t have any similar breakout successes recently.

GraFun Labs may help change this state of affairs in TON. However, considering that the firm also integrated Ethereum recently, it may quickly move on to other chain integrations.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Hedera CryptoAutos Integration: Redefining Luxury Car Purchases

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CryptoAutos, the world’s first crypto-powered luxury car marketplace, integrated with Hedera Hashgraph (HBAR), marking a landmark development in the automotive marketplace.

With this integration, CryptoAutos is redefining the way users purchase high-end vehicles using cryptocurrencies.

Hedera’s Integration with CryptoAutos

The integration into CryptoAutos marks a significant upgrade to the platform’s capabilities. Hedera’s advanced blockchain technology offers near-zero transaction fees, secure settlements, and unmatched reliability, making it a perfect match for CryptoAutos. This integration enhances the platform’s user experience while providing a gateway to Hedera’s strong community, expanding CryptoAutos’ reach globally.

Hedera’s near-zero transaction fees and instant finality enable CryptoAutos to offer a seamless and secure payment experience for its users. The network’s reliability ensures smooth transaction execution, fostering trust and confidence among buyers and dealers.

“CryptoAutos, the world’s first crypto automotive marketplace, has officially integrated with Hedera. This unlocks new possibilities for secure, fast, and efficient transactions in the automotive world,” Hedera shared.

CryptoAutos provides a platform where users can explore and purchase luxury vehicles ranging from Ferraris and Porsches to Ford GTs. With over 20,000 cars available across 600 dealerships worldwide, the marketplace caters to a global audience.

Prospective buyers can easily find dealers near them or search for specific niche models, ensuring inclusivity and accessibility for customers in any location.

The platform allows users to purchase cars using Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and other cryptocurrencies. This streamlines the transaction process and bypasses traditional banking barriers. Additionally, CryptoAutos offers comprehensive guides to help users navigate the process of purchasing vehicles with digital currencies.

“This integration expands our ecosystem reach while providing the Hedera community direct access to our luxury automotive marketplace,” CryptoAutos stated.

HBAR Price Performance
HBAR Price Performance. Source: BeInCrypto

Despite this news, Hedera Hashgraph’s HBAR token is down by a stark 10%. According to BeInCrypto data, HBAR was trading for $0.3171 as of this writing.

CryptoAutos Launches Native AUTOS Token

Meanwhile, this development follows the launch of AUTOS, which debuted through a Token Generation Event (TGE) on December 3, 2024. Hosted on the Ethereum blockchain via the Fjord Foundry platform, the event saw the release of 110 million AUTOS tokens.

“The time has finally come — the AUTOS Community Launch is LIVE!!! $58 million revenue, Tier 1 partners & exchanges, fixed price sale, 100% unlock at TGE, and open to all. And your chance to win a Lamborghini Urus. What more could you possibly need,” CryptoAutos said.

The community-driven launch, focused on decentralization, raised an impressive $4.57 million within the first five hours, displaying strong interest in the token. Participants in the TGE were automatically entered into a contest to win a Lamborghini Urus, reflecting CryptoAutos’ blend of blockchain innovation and luxury.

Following the launch, AUTOS will initially be listed on decentralized exchanges before debuting on KuCoin, a prominent centralized exchange. The AUTOS token is designed to transform luxury car ownership by enabling seamless, transparent, and secure transactions. It also powers various features within the CryptoAutos ecosystem, including staking, governance, and user engagement.

Token holders gain access to exclusive rewards, discounts, and loyalty incentives, while dealers can leverage advertising solutions to reach their audience. Additionally, AUTOS supports CryptoAutos’ Gold membership service and its upcoming Real World Asset (RWA) platform, offering utility beyond transactions.

CryptoAutos’ achievements are already noteworthy, with over $58 million in sales revenue generated to date. The platform recently completed the first-ever car sale using Toncoin (TON), solidifying its position as a leader in the crypto-to-fiat marketplace.

The auto marketplace is setting a new standard for token launches with its transparent, community-first approach. By prioritizing decentralized distribution over venture capital funding, the platform ensures equal access for all participants. With $750,000 USDT secured for liquidity, the launch reflects a sustainable and inclusive vision for the future.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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