Altcoin
Bonk Inu Announces ETP Launch In US For Retail and Institutional Investors
Bonk Inu (BONK), the popular Solana-based dog-themed meme coin, has recently marked a monumental stride within the global crypto landscape. Notably, the meme token announced the launch of a BONK exchange-traded product (ETP) in the U.S, emerging as the first-ever meme coin to achieve this feat. Crypto market enthusiasts speculate whether the ETP launch could fuel a positive impact on the asset’s price ahead.
Bonk Inu Unveils BONK ETP In The U.S.
According to the latest Solana Breakpoint, a multi-day event for devs and enthusiasts, the Bonk Inu (BONK) community is launching an ETP in the U.S. “This marks the first-ever step towards a BONK ETF,” the announcement added.
The Solana meme coin‘s team is working with Osprey Funds, a New York-based company that helped streamline one of the first Bitcoin ETFs and Solana Trust, to roll out the ETP in the U.S. Notably, the meme token’s community also revealed that it is looking forward to launching the ETP by the end of this year.
Meanwhile, the announcement added that the ticker remains the same, BONK. Overall, the plans for an upcoming ETP launch have sparked a tidal wave of optimism for the token globally.
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.
Real World Asset (RWA) tokenization has recently taken center stage with some of the top industry players focusing on this next shift in the blockchain industry. While speaking at the Breakpoint 2024 conclave, SkyBridge Capital founder Anthony Scaramucci said that tokenization will play a massive role in transaction verification, with Solana playing a key role in the tokenized assets industry.
Solana to Lead the Future of Tokenized Assets
SkyBridge Capital founder Anthony Scaramucci stressed the importance of asset tokenization in streamlining financial systems adding that the industry spends $7 billion per year globally on transaction verification. He also added that tokenization will eliminate the need for third-party intermediaries thereby reducing unnecessary friction in transactions.
While speaking at the Breakpoint 2024 conclave, Scaramucci praised Solana for its leadership in the tokenized assets space, adding that it would lead future developments. “The future is tokenized, and Solana is leading,” Scaramucci remarked. Recently, Scaramuucci has also been closely working on Kamala Harris’s crypto policies.
He added that tokenization will make the trading of assets more flawless in comparison to the existing system with friction. At the recent Breakpoint 2024 event, Solana announced key partnerships with financial giants like Franklin Templeton and Citi Bank. As part of this partnership, Fraklin will leverage the SOL blockchain for its on-chain mutual fund. On the other hand, Citi Bank is also exploring the Layer-1 blockchain to process transfers along with other smart contract services.
On the other hand, $100 billion asset management giant WisdomTree has unveiled a new platform to provide seamless access to real-world tokenized assets. The WisdomTree Government Money Market Digital Fund allows users to engage meaningfully with tokenized assets. Interestingly, the tokens on the platform will be initially minted on the Ethereum blockchain.
SOL Price Rally Ahead?
The SOL price has given a strong recovery of more than 10% from the support levels of $130 this week. This puts the altcoin in a comfortable situation to kickstart a further rally from here onwards for a Solana rally to $200.
Popular trader Peter Brandt showed that SOL is gearing up for a strong rally henceforth with the potential of another 30% gain from here. As of press time, the SOL price is trading at $145 levels. As per the image shared by Peter Brandt, SOL has been consolidating in the range of $130-$210. Thus, it can proceed further to the upper end of this range in the coming days.
Attention all cryptomaniacs.
Looks like $SOL $SOLUSD held support at $120
This could become a rectangle capable of launching a sizable advance pic.twitter.com/id0eTzzsVW— Peter Brandt (@PeterLBrandt) September 20, 2024
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.
With the Ripple Labs vs US SEC lawsuit almost over, traders are anticipating a huge XRP rally. The XRP price action has been sideways for more than two years, impacted by the bear market, the lawsuit, and Terra and FTX crises. The token can hit at least $2, if Bitcoin price gains momentum towards $100K-$150K after the most awaited breakout.
XRP Price Rally Holds Promise as Ripple Lawsuit Is Over
The US Securities and Exchange Commission (SEC) has only two weeks to appeal the remedies ruling by Judge Torres. The government agency hinted at not appealing summary judgment on XRP programmatic sales. It also regrets using the term “crypto asset securities” in crypto cases and decided to drop its use.
While the SEC deliberates to appeal against the remedies ruling, Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty indicated that the XRP lawsuit is over. They do not intend to appeal first, but cross-appeal is more likely.
Moreover, if the agency loses to Ripple in the Second Circuit Court, it will create a binding precedent over other courts. It discourages the SEC from appealing the Ripple case unless the agency has new clarity or evidence. This will boost XRP price.
Bitcoin Price Rally to $100K-$150K
Wall Street giants, analysts, and financial experts have predicted an average Bitcoin price rally to $100K-$150K in this cycle. Thus, the next wave of the bull market started with a 50 bps interest rate cut by the US Federal Reserve.
BTC price jumped nearly 10% this week, with the price currently trading at $62,814. The 24-hour low and high are $62,630 and $64,119, respectively. Furthermore, the trading volume has decreased by 21% in the last 24 hours, indicating a decline in interest among traders. The latest Bitcoin recovery was a bull trap as predicted by CoinGape Media.
However, Bitcoin price chart is forming a cup-and-handle pattern, which shows that a breakout could result in a massive bullish rally. But, Bitcoin needs to break above $67K and consolidate for a rally to $100K.
Why XRP Price Will Rally With Bitcoin?
Popular crypto analyst CredibleCrypto has predicted a 25% rally in XRP price to $0.75 in October. However, the price needs to first push below a range low before moving right back into the range and heading in the upside direction.
A rally to $1 will be supported by the historically bullish fourth quarter for the crypto market. Traders will also have more positive sentiment with no implications of elections and the Ripple vs SEC lawsuit. The XRP price target of $2 in 2025 is based on market demand and supply dynamics in the bull run.
Moreover, crypto analyst Ali Martinez revealed that whales have bought over 380 million XRP in the last 10 days. In total, whales purchased tokens for around $228 million. The buying activity started even weeks before the Fed rate cuts due to positive sentiments from Wall Street.
The above predictions coincide with the technical indicators, patterns and support-resistance levels in daily timeframe. Investors need to track this and chart in higher timeframes for potential entry and exit points to turn thousands in millions.
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.
In October, Charles Hoskinson, the founder of Cardano, will take an appointment with the President of Argentina Javier Milei to discuss the future of cryptocurrency economies.
Hoskinson will attend Tech Forum Argentina, where he intends to have a debate with the President of Argentina on October 19.
Argentina Explores Blockchain Future with Cardano’s Hoskinson
The meeting is set to discuss how blockchain could be a game-changer for global economic, political, and social systems. The discussion would even seek to brief about the technological needs and values of the Argentinian nation, CBDC development, and possible future partnership with the nation as part of rebuilding its economy.
According to Hoskinson:
“We’ve had many discussions with his administration, and I’m going to meet him probably on the 19th, but at some point, if not then within that time frame, we’ve been discussing with people that work with him and forum what blockchain’s future is going to look like. It’s not a Cardano only conversation, there’s a whole family of technologies.”
This was evident in a recent interview when Cardano founder Charles Hoskinson described Argentina’s President Javier Milei as a “philosophical Austrian.”
The comment worked to align Milei with ideals shared by the crypto community. Hoskinson noted that Milei supports eliminating government-controlled money and is an advocate for private institutions and free markets. He further exclaimed, “Milei shares a similar creed as those greats like Ludwig von Mises and Murray Rothbard; his political philosophy consequently really tallies with the ethos of the cryptocurrency industry.
This is the first strong presence of Cardano in Argentina, since Hoskinson’s forthcoming visit with President Milei is confirmation. The country has been open to Cardano initiatives-finding several collaborations to influence blockchain adoption. In June of 2024, the Cardano Foundation partnered with Argentina to promote local blockchain initiatives.
Cardano has a relationship with Argentina that goes back to the early days of the protocol. One of Cardano’s first development partners, AtixLabs, is from the country. “Cardano has had a significant presence in Argentina for a long time,” Hoskinson highlighted, pointing to the strong foundation of the network.
He also referenced Argentina’s history with Bitcoin, noting how BitPay, one of the first big crypto companies, created its Copay wallet in Argentina back around 2012. President Milei has been a loud pro-crypto leader, and he publicly shilled Cardano. In May 2024, Milei forwarded on his X page a Cardano-themed message from Dario Epstein, and he has forwarded on at least one of Hoskinson’s tweets.
President Milei to Witness Cardano’s DeFi Governance Milestone
On September 17, President Javier Milei confirmed his attendance at Tech Forum Argentina through a repost on X, signaling his participation in the upcoming event.
The announcement is being made at this point when the Cardano blockchain is progressing further in its journey toward Voltaire, the last stage of its roadmap that focuses on decentralized governance.
Cardano underwent Chang, the first hard fork of the Voltaire era, on September 1, which introduced community-driven governance with the activation of on-chain consensus.
ADA holders will formally ratify Voltaire’s on-chain voting capabilities in the final Cardano Constitution expected until December.
Although Charles Hoskinson supports personally a deflationary monetary policy and is against the burning of tokens in any event, he opens his arms to debate within the community. He says discussion is the very reason behind on-chain governance; this is how ideas get refined, and systems evolve through inclusivity of every kind.
Teuta
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 in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, 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, enjoys punk rock, chablis, and has a passion for shoes.
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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