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VanEck, 21Shares Solana ETF Apparently Removed From Cboe Website
VanEck and 21Shares’ 19b-4 filings for Solana exchange-traded fund (ETF) are no longer available on the Cboe website. Both companies filed S-1 forms for spot Solana ETF in late June after the clarity on approval for nine spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC).
Have VanEck and 21Shares Dropped Plans For Spot Solana ETF?
Solana ETF 19b-4 forms by VanEck and 21Shares appear to have been removed from the Cboe website, according to a post on the X platform on August 17. He shared that the documents SR-CboeBZX-2024-066 and SR-CboeBZX-2024-067 aren’t accessible through direct link. In addition, they are no longer visible in BZX Pending Rule Changes.
VanEck and 21Shares filed 19b-4 applications on July 8, after they revealed their initial plan in S-1 filings in June to offer spot Solana ETFs. However, the U.S. SEC has never issued notices of filings, starting a debate on whether the 19b-4 filings were withdrawn.
The 19b-4 submission is the second step in the ETF process after an S-1 form. It informs the SEC of a proposed rule change by a self-regulatory organization (SRO) such as an exchange. After the 19b-4 filings, the SEC confirms receipt of the filing. It is followed by the opening of a 240 days window in which the regulator makes a decision on the products.
ETF Experts Reacts on the Missing Filings
Scott Johnsson, general counsel at Van Buren Capital, said it is not surprising to him what is happening in the U.S. SEC under Gary Gensler. Johnsson asserts Gensler would have rejected VanEck and 21Shares Solana ETFs after the filings. He is anti-crypto and reluctant to any crypto exchange-traded funds approval.
“I’m assuming Gary notified CBOE that these SOL apps were improperly filed as Commodity-Based Trust Shares (because he thinks SOL isn’t a commodity), which obviates the need for the SEC to provide a formal written disapproval order (that is reviewable as a final agency action).”
My guess on what is happening is Gary says SOL ETF is DOA under his watch (not surprising). https://t.co/g5Tz8Zjoqh
— Scott Johnsson (@SGJohnsson) August 17, 2024
Nate Geraci, president of ETFStore, confirmed that the ETF 19b-4 filings were removed. He added that Solana ETF will never get approval anytime soon under the current administration.
Meanwhile, SOL price is trading under selling pressure amid the bearishness in the crypto market. The fear and greed index has dropped to a low of 25 (fear) today, creating a panic situation among investors. SOL price is currently trading at $139.51, down 3% in the past 24 hours. The trading volume has dropped more than 20% over the last day.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
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.
Amid a highly turbulent crypto market witnessed as the week kicks off, a super Pepe Coin whale shifted focus to EIGEN has sparked significant market discussions. Notably, on-chain data pointed out a massive 130 billion PEPE whale selloff, with the investor simultaneously diversifying his portfolio by buying over 200K of the Ethereum-based token.
This swap of positions, amid a slumping action witnessed by the meme coin and a gaining action seen by the EigenLayer ecosystem token, set off waves of speculations over the coins’ future tendencies.
Super Pepe Coin Whale Refocuses Investments, Buys EIGEN
According to whale data by Spot On Chain as of November 25, a super whale sold 74.07 billion in Pepe Coin worth $1.53 million for 448.1 ETH as the price dropped recently. The same whale was recorded offloading 130.2 billion of the meme coin, worth $2.71 million, for 891 ETH over the past three days. Although this massive selling caused market tension, it’s noteworthy that the super whale still holds 3.241 trillion Pepe Coin, with a 12.6x profit of $68.3 million.
However, the same whale also focused on buying EIGEN, swapping 181.3 ETH for 217,348 of the Ethereum-based token over the past two days. The whale currently holds 1.608 million of the EigenLayer token, worth $4.31 million, with an 11% profit. Overall, the trade swap sparked significant optimism over the EigenLayer ecosystem’s primary token, while market watchers monitor the leading meme coin closely.
PEPE & EIGEN Prices Show Mixed Actions
While the meme coin’s price slipped, aligning with the selloff by super Pepe Coin whale, the Ethereum-based coin rose, leveraging buying pressure. PEPE price was down 2% intraday and 5% weekly, trading at $0.00002026. Its 24-hour low and high were $0.00001918 and $0.00002086, respectively.
Whereas, EIGEN price soared nearly 7% intraday and 23% weekly, reaching $3.06. The coin’s 24-hour low and high were $2.56 and $3.07, respectively. While crypto market participants remain optimistic about the Ethereum-based token in light of the massive accumulation, the remaining massive PEPE holdings add a layer of intrigue to the leading meme coin’s price action ahead.
Intriguingly, a recent Pepe coin price analysis by CoinGape Media flagged that the meme coin eyes a $0.000025 target, with significant potential upside for further momentum. This optimistic projection comes against the backdrop of bullish technical formations on the frog-themed crypto’s price chart. Market watchers continue to eye both coins for future price action shifts as the broader market continues to showcase price fluxes.
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.
The crypto prices today have triggered global investor speculations as Bitcoin (BTC) and major altcoins showed weakening price trends. Meanwhile, The Sandbox (SAND) and Decentraland (MANA) emerged as top gainers. The selloff is likely due to Bitcoin pullback.
The global crypto market value dropped 2% to $3.3 trillion, while total market volume declined 5%, now at $200 billion. Crypto market sentiment dropped to 82 ‘extreme greed’ from 94 last week.
Here’s a quick snapshot of the top cryptocurrencies by market cap and their price movements today, November 25.
Crypto Prices Today: BTC, ETH, SOL, and XRP Drop
Today, the BTC price dropped significantly, briefly hitting $96,000. Similarly, ETH, SOL, and XRP mirrored the trend with declining action. SAND and MANA emerged as the top gainers.
Bitcoin Price Today
BTC prices dropped over 1% in the past 24 hours, currently trading at $97,601. The 24-hour low and high were $95,788 and $98,546, respectively. BTC’s total market cap stands at $1.93 trillion, with a 24-hour trading volume of $52 billion and a market dominance of 58.16%.
Veteran trader Peter Brandt predicted a BTC selloff ahead despite remaining overall optimistic about BTC’s long-term trajectory, sparking market discussions.
Ethereum Price Today
ETH price plunged nearly 3%, currently trading at $3,344. Its 24-hour low and high are $3,288 and $3,435, respectively. With a market cap of $402 billion and a 24-hour trading volume of $28 billion, ETH holds a 12% market dominance, ranking as the second-largest cryptocurrency by market cap.
Solana Price Today
SOL price dropped nearly 4%, currently trading at $250. Its 24-hour low and high are $243 and $259, respectively. With a market cap of $118 billion and a 24-hour trading volume of $5.33 billion, SOL holds a market dominance of 3.58%, ranking as the fourth-largest cryptocurrency by market cap.
XRP Price Today
XRP crypto prices fell by 7% today and currently trading at $1.38. Its 24-hour low and high are $1.30 and $1.49, respectively. With a market cap of $78 billion and a 24-hour trading volume of $12 billion, XRP holds a market dominance of 2.4%, ranking as the 6th largest cryptocurrency by market cap. Moreover, Ripple the company behind XRP, revealed a blueprint to defeat Gary Gensler’s war on crypto.
Meme Coins Performance Today
DOGE price dropped nearly 6% in the last 24 hours, currently trading at $0.4199. Its 24-hour low and high are $0.40 and $0.44, respectively. DOGE has a market cap of $61 billion and a 24-hour trading volume of $11.4 billion.
Similarly, SHIB Inu (SHIB) is currently trading at $0.00002529, down 7% in the last 24 hours. Its 24-hour low and high are $0.00002441 and $0.00002714, respectively. SHIB has a market cap of $15 billion and a 24-hour trading volume of $1.90 billion.
Meanwhile, PEPE, BONK, and FLOKI have all declined by almost 6% to 12% amid the massive liquidation.
Top Crypto Gainer Prices Today
The Sandbox
SAND price surged by 70% in the past 24 hours, currently trading at $0.83. Its 24-hour low and high are $0.51 and $0.84, respectively. Trading volume has shot up by 650%, indicating massive buying.
Decentraland
MANA is trading at $0.75, up by 30% in the past 24 hours. Its 24-hour low and high are $0.5592 and $0.7574, respectively.
Axis Infinity
AXS is trading at $8.50, with a 16% increase in the last 24 hours. Its 24-hour low and high are $7.187 and $8.909, respectively.
Top Crypto Loser Prices Today
Stellar
XLM is trading at $0.52, down by 16% in the last 24 hours. Its 24-hour low and high are $0.44 and $0.58, respectively.
Algorand
ALGO is trading at $0.27, with an 11% decline in the last 24 hours. Its 24-hour low and high are $0.2568 and $0.3262, respectively.
Hedera
HBAR is down by 10%, currently trading at $0.1412. Its 24-hour low and high are $0.1365 and $0.1547, respectively. Trading volume is down 50%.
Besides the hourly time frame, charts indicate that BTC and ETH are recovering, showing positive momentum. SAND price continues to jump higher. Overall, the market outlook appears bullish, which could be encouraging for investors. Crypto prices today reflect this shift, with BTC and ETH, starting to regain strength, signaling potential growth in the coming days.
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.
The Dogecoin price has entered another stage of bullish momentum that has reignited inflows from traders. Notably, the DOGE price has surged by about 16.3% over the past 24 hours. This surge has brought into focus the possibility of the DOGE price reaching a new all-time high this year.
Interestingly, a crypto analyst on the social media platform X has highlighted a bullish fractal that could push the Dogecoin price on a parabolic run.
Dogecoin Fractal Points To New ATH
Master Kenobi shared his analysis of the Dogecoin price action on X. In his post, Kenobi outlined a fractal setup, suggesting that DOGE is on the verge of a significant breakout. Kenobi attributed the fractal formation to the consolidation that began after the DOGE price reached $0.43
A bullish fractal is a pattern that suggests an upward reversal in price. This pattern, which occurs during price consolidations, is characterized by a middle bar that has the lowest low, flanked by higher lows on each side.
Kenobi’s analysis was accompanied by a DOGE chart on the four-hour candlestick timeframe. The chart revealed that a similar fractal had occurred during the first week of November. At that time, Dogecoin was consolidating after an initial surge past the $0.20 mark. This consolidation phase, much like the current one, was marked by low volatility and steady accumulation. However, the November fractal ultimately resolved with an explosive 115% rally over six days.
Drawing parallels with the November setup, Kenobi predicted that the Dogecoin price could replicate this outcome and create a new all-time high in the next three days. In terms of a price target, a breakout would see the DOGE price reaching the $0.74 mark, which would put it above its current all-time high of $0.7316.
What’s Next For The Dogecoin Price?
The prospect of a new all-time high for the Dogecoin price is gaining ground with each passing day, especially with the price action in the past 24 hours. At the time of the analysis, the DOGE price was trading at $0.41. Interestingly, the Dogecoin price has surged to $0.46 at the time of writing, which indicates that the bullish fractal breakout has happened.
DOGE, which started November at $0.1616, is already up by about 230% in the past 30 days. Many on-chain data and price patterns point to a continued price increase, at least in the next few days and weeks. Ali Martinez, a popular crypto analyst, suggested that the Dogecoin price is in the middle of a bullish breakout to $0.82. If the price target is achieved, this would represent a further 78% gain from the current price.
Featured image created with Dall.E, chart from Tradingview.com
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