Market
Brazil Announced Solana ETF Launch Date
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BeInCrypto comprehensive Latam Crypto Roundup brings Latin America’s most important news and trends. With reporters in Brazil, Mexico, Argentina, and more, we cover the latest updates and insights from the region’s crypto scene.
This week’s roundup covers the spot Solana ETF launch in Brazil, an investigation by Colombia’s Superintendence of Industry and Commerce into Worldcoin’s operations, and more.
Brazil Takes Lead in Solana ETF Race
While the prospect of a Solana ETF (SOL) in the US remains uncertain, Brazil is moving ahead confidently. QR Asset Management announced that its Solana ETF will be available for public offering starting Wednesday, August 21. The ETF is set to be listed on Brazil’s B3 stock exchange on August 28.
Earlier this month, the Brazilian Securities Commission (CVM) approved the ETF, named QSOL11. Managed by Vortx, the fund will track the CCME CF Solana Dollar Reference Rate. The index, developed by CF Benchmarks and the Chicago Mercantile Exchange (CME), ensures reliable Solana pricing.
This launch marks another milestone for QR Asset, which already offers crypto-related products like QBTC11 and QETH11. The company views the new ETF as a regulated option for both institutional and retail investors in Brazil.
“As a market player, it is reassuring to have Brazilian regulators so attentive and open to the evolution of the crypto ecosystem in a regulated environment. The new ETF represents yet another regulated option for institutional and retail investors to diversify their portfolios and choose the ideal composition of their investments in the sector,” QR Asset Management CIO Theodoro Fleury stated.
Read more: Solana ETF Explained: What It Is and How It Works
QR Asset isn’t the only firm working on a Solana ETF in Brazil. The CVM has also approved another Solana ETF, backed by Hashdex in partnership with BTG Pactual. Hashdex, which manages over $962 million in assets, has already launched several ETFs on B3.
Matter Labs Expands zkSync Operations into Latam
Matter Labs, the developer behind the Ethereum Layer-2 (L2) scaling solution zkSync, announced its expansion into Latin America, starting with a headquarter in Buenos Aires, Argentina. The new office aims to support local projects while driving zkSync’s growth in the region.
The protocol has seen increasing adoption in Argentina, highlighted by integrations with platforms like the Lemon exchange and QuarkID, a digital identification system built on zkSync. These partnerships are set to catalyze zkSync’s influence across Latin America in the coming months.
Matter Labs’ CEO Alex Gluchowski and President Nana Murugesan plan to visit Buenos Aires in August to meet with key leaders, decision-makers, policymakers, and crypto entrepreneurs. The goal is to explore collaboration opportunities and better understand the region’s financial state.
“Argentina has become the springboard for our regional expansion, and I’m excited for the next phase of Matter Labs’ journey to bring millions of developers and the next billion users to the blockchain,” Murugesan stated.
Read more: A Beginner’s Guide to Layer-2 Scaling Solutions
Matter Labs highlighted that zkSync partners like Lambda Class and OpenZeppelin are positioning L2 solutions in Latin America. They described Argentina’s crypto ecosystem as “vibrant” and a key launchpad for Web3 projects in the region.
Salvadoran FinTech DitoBanx Enters Mexico
El Salvador-based FinTech company DitoBanx is entering the Mexican market to offer financial services, including international transfers, digital credit cards, dollar accounts, cryptocurrency access, and tokenization. After obtaining its operating license in El Salvador in April 2023, the company has extended its reach to Guatemala, the US, Costa Rica, Panama, and now Mexico in 2024. The company highlighted a 50% growth in financial technology app usage in Mexico over the past four years.
DitoBanx’s offerings in Mexico will include DitoWallet and credit card services for everyday transactions. The company will also offer tokenization services to convert physical or digital assets into tokens.
“With a firm belief that financial well-being is the foundation of a prosperous society, DitoBanx enters Mexico offering personalized service available 24/7, 365 days a year,” said Guillermo Contreras, CEO and founder of DitoBanx.
Read more: Crypto vs. Banking: Which Is a Smarter Choice?
The company has reportedly invested $3 million in its Mexican operations, where mobile banking users have grown from 1.5 million in 2013 to 80 million by 2023.
Contreras highlighted the commitment to Mexico’s economic and technological growth. He also noted that they plan to integrate the digital Mexican peso and aim to operate under the legal framework of a Sociedad Financiera Popular (Sofipo) by 2025.
Peru Declares War on Cryptocurrency Crime
Peruvian authorities are ramping up efforts to combat cryptocurrency-related crime. While technological advancements and growing interest in cryptocurrencies have spurred their use, they have also brought concerns about potential criminal activities. Juan Carlos Villena Campana, Peru’s Public Prosecutor, has taken a firm stance on addressing these challenges.
Speaking at a workshop organized in collaboration with the US Department of Justice, Villena highlighted the importance of keeping pace with technological changes. He noted that while cryptocurrencies offer benefits like decentralization, they also pose risks due to the anonymity they afford, which can be exploited for illegal activities.
“The rapid evolution of technology and the growing adoption of cryptocurrencies have created new avenues for criminal activity, presenting fresh challenges to cybersecurity that threaten society,” Villena said in an interview with local media.
Read more: 15 Most Common Crypto Scams To Look Out For
The Peruvian Public Prosecutor’s Office has committed to leading efforts against these crimes, working in collaboration with other Latin American nations and international organizations like the Organization of American States (OAS).
Rodrigo Silva from the OAS echoed Villena’s concerns, stressing the need for law enforcement to stay updated on technological advancements to tackle the increasingly complex nature of cybercrime, even when it occurs on blockchain networks.
Colombia Investigates Worldcoin for Alleged Data Protection Violations
The Colombian Superintendence of Industry and Commerce (SIC) has launched an investigation into Worldcoin and Tools for Humanity Corporation, the platform behind WLD, for allegedly violating personal data protection laws. The investigation, initiated by resolution N. 46436, focuses on ensuring that Worldcoin’s data processing practices comply with Colombia’s regulations on sensitive personal data.
The SIC is specifically concerned with Worldcoin’s transparency in handling personal data, the implementation of security policies, and the existence of internal procedures for addressing complaints and queries from Colombian citizens. The regulator emphasized the importance of ensuring that the community remains cautious about sharing their personal data.
“The SIC del Cambio is committed to protecting the fundamental rights of citizens and advises the community to exercise caution with their personal data. This decision is in the process of being notified and will be signed once it is known by the involved parties. No appeal can be lodged against this decision,” the SIC stated.
Read more: What Is Worldcoin? A Guide to the Iris-Scanning Crypto Project
As of now, neither Worldcoin nor Tools for Humanity Corporation has commented on the investigation. However, if violations of data protection laws are confirmed, Worldcoin could face hefty fines or even be banned from operating in Colombia.
The Superintendency clarified that potential sanctions under Article 23 of Law 1581 of 2012 could include fines of up to 2,000 current legal monthly minimum wages, the suspension of activities for up to six months, the temporary closure of operations after the suspension, or the immediate and definitive closure of operations involving the processing of sensitive data.
As the Latam crypto scene grows, these stories highlight the region’s increasing influence in the global market. Stay tuned for more updates and insights in next week’s roundup.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
3 Meme Coins to Watch For The Last Week of February 2025
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DOGEai, TST, and BROCCOLI are three meme coins drawing attention for the last week of February. DOGEai, launched on Solana, is up 110% in the past seven days, positioning itself as a leading AI meme coin.
TST remains one of the most popular meme coins on the BNB chain despite a recent correction. At the same time, BROCCOLI, inspired by Binance co-founder CZ’s dog, has also seen significant volatility.
DOGEai (DOGEAI)
DOGEai is an artificial intelligence coin launched on Solana. Its market cap is now $32 million, up 82% in the last seven days. This rise has positioned DOGEai as one of the most talked-about AI meme coins in recent days.
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DOGEai leverages multiple narratives, including Dogecoin’s popularity, the growing interest in DOGE (Department of Government Efficiency), and the broader AI cryptos trend. It defines itself as “an autonomous AI agent here to uncover waste and inefficiencies in government spending and policy decisions,” offering bill summaries and insights into government expenditures.
If the current uptrend continues, DOGEai could test the resistance at $0.048, with potential targets at $0.059 and $0.069. However, if a downtrend emerges, DOGEai has support at $0.030, and if that level is lost, it could drop to $0.018 or even $0.0092.
Test (TST)
TST has emerged as one of the most popular meme coins on the BNB chain, benefiting from the chain’s growing volume, which recently even surpassed Solana.
In the days following its launch, TST reached a market cap close to $500 million, then entered a strong correction phase. Its market cap has since dropped to $78 million.
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If the BNB narrative gains strength again, TST could benefit as one of its most popular meme coins and may test the resistance at $0.10. A breakout above this level could push TST to $0.20 or even $0.25 if buying pressure intensifies.
However, if TST fails to regain strong upward momentum, it could test the support at $0.0719 and potentially drop to its lowest levels since February 9.
CZ’S Dog (BROCCOLI)
BROCCOLI was launched a few weeks ago after Binance co-founder CZ revealed his dog’s name, sparking a flood of BROCCOLI tokens on the market.
The largest of these tokens quickly surged to a $249 million market cap in its early days but has since dropped to $52 million.
Like TST, BROCCOLI benefited from the recent rise of the BNB ecosystem but has since entered a strong correction phase. It is down 40% in the last seven days.
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If the downtrend continues, BROCCOLI could test support near $0.04, and a break below this level could push it to its lowest price since launch.
However, if the BNB ecosystem and meme coins regain traction, BROCCOLI could benefit, especially given the popularity of dog-related meme coins like Dogecoin and Shiba Inu. In this bullish scenario, BROCCOLI could rise to test the resistance at $0.113.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Ethereum Rollback Debate Intensifies After Bybit Hack
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The crypto community is divided over calls for an Ethereum blockchain rollback following a massive security breach at Bybit.
On February 21, the exchange lost nearly $1.5 billion in ETH to hackers, sparking discussions about whether Ethereum should intervene to recover the stolen funds.
What is a Blockchain Rollback?
A blockchain rollback, also known as a reorganization, involves reversing confirmed transactions to restore the network to an earlier state.
This process usually happens after a major security breach or exploit. Validators must reach a consensus to discard the affected blocks, effectively erasing the malicious transactions.
Despite its potential benefits, a rollback remains a controversial and rarely used measure due to its impact on a blockchain’s trust and decentralization.
Blockchains operate on the principle of immutability, meaning transactions are expected to be final once confirmed. So, rolling back transactions challenges this principle, raising concerns about the security and reliability of the network.
Crypto Leaders Clash Over Ethereum Rollback Proposal
BitMEX co-founder Arthur Hayes has been vocal in advocating for a rollback to solve the ByBit hack. He pointed to the 2016 DAO hack, where Ethereum underwent a hard fork to recover stolen funds, as precedent.
Hayes argued that since Ethereum previously compromised on immutability, another intervention should not be off the table.
“My own view as a mega ETH bag holder is ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016,” Hayes said.
JAN3 CEO Samson Mow also supported the rollback, stating it could prevent North Korea from using the stolen funds to fund its nuclear weapons program.
However, not everyone agrees. Pseudonymous crypto trader Borovik strongly opposed the idea, arguing that a rollback would jeopardize Ethereum’s credibility and neutrality.
Bitcoin advocate Jimmy Song also dismissed the possibility, stating that the Bybit hack cannot be compared to the 2016 DAO exploit. Song emphasized that the DAO hack allowed for a 30-day intervention, whereas the Bybit attack is already finalized, making a rollback impractical.
“I know people are expecting the Ethereum Foundation to roll back the chain, but I suspect it’s already too much of a mess to do it cleanly,” Song added.
Meanwhile, Ethereum supporter Adriano Feria introduced an alternative perspective. He argued that Bybit could have avoided this situation by using a Layer 2 (L2) solution with conditional reversible transactions.
According to Feria, blockchain technology needs some form of reversibility to ensure real-world adoption.
“Whether through social recovery or another pre-determined, immutable, and transparent decision-making process, real-world mass adoption will not work without reversible transactions. Without this capability, transactional activity will inevitably gravitate toward TradFi systems that already provide it,” Feria stated.
This debate raises a fundamental question for Ethereum: should it prioritize immutability or intervene in extreme cases?
While some see a rollback as a necessary response to an unprecedented loss, others fear it could undermine the core principles of decentralization. Ethereum’s next steps will likely shape its long-term credibility and trust within the crypto space.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Berachain (BERA) Falls 15% After Recent Rally Surge
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Berachain (BERA) is down almost 15% in the last 24 hours, with its market cap now at $778 million, although its price remains up nearly 20% over the past seven days. This sharp pullback comes after a strong rally between February 18 and February 20, when BERA reached levels above $8.5.
BERA’s Relative Strength Index (RSI) has dropped from overbought levels, signaling a loss of bullish momentum, while its Directional Movement Index (DMI) shows growing bearish pressure. As BERA navigates this correction phase, it faces key support at $6.1, with potential resistance levels at $8.5, $9.1, and $10 if bullish momentum returns.
BERA RSI Is Dropping Steadily After Touching Overbought Levels
Berachain Relative Strength Index (RSI) is currently at 50.6, down sharply from 86.7 just two days ago when its price surged above $8.5. RSI is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100.
It is commonly used to identify overbought or oversold conditions, with values above 70 indicating overbought levels and below 30 suggesting oversold territory.
The steep decline in BERA’s RSI reflects a significant loss of bullish momentum after reaching overbought levels above 86, where a correction was likely.
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With RSI now at 50.6, BERA is in a neutral zone, suggesting that buying and selling pressures are relatively balanced.
This could indicate a period of consolidation as the market digests recent gains. If RSI continues to decline below 50, it could signal increasing bearish momentum. This could lead to a further price drop for BERA.
Conversely, if RSI stabilizes and begins to rise, it could suggest renewed buying interest and a potential recovery in Berachain price.
BERA DMI Chart Shows Buyers Are Losing Control
Berachain Directional Movement Index (DMI) chart shows its Average Directional Index (ADX) currently at 50.5, after peaking at 60.2 yesterday, up from just 13.3 five days ago. ADX is an indicator used to measure the strength of a trend, regardless of its direction, ranging from 0 to 100.
Values above 25 typically indicate a strong trend, while values below 20 suggest a weak or sideways market. The sharp rise in ADX reflects a significant increase in trend strength, confirming that BERA has been experiencing strong directional movement recently.
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Meanwhile, BERA’s +DI is at 24.4, down from 48.4 two days ago, indicating weakening bullish momentum. Meanwhile, -DI has risen to 15.1 from 4.9, suggesting growing bearish pressure.
This shift signals that the bullish trend that drove prices higher is losing steam, and selling interest is beginning to increase.
If -DI continues to rise above +DI, it could indicate a bearish crossover, signaling a potential reversal or deeper correction in BERA’s price. However, if +DI stabilizes and moves upward again, it could suggest a continuation of the uptrend, albeit with reduced momentum.
Will Berachain Fall Below $6 Soon?
Berachain surged 53% between February 18 and February 20, pushing its price above $8.5 after the coin struggled following its airdrop. However, after this sharp rally, BERA entered a correction phase and is currently down almost 15% in the last 24 hours.
This pullback suggests profit-taking and a shift in market sentiment as buyers hesitate to push prices higher. If the downtrend continues, BERA could soon test the support at $6.1, and a break below this level could lead to a further decline towards $5.48, reflecting increased selling pressure.
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On the other hand, if Berachain can regain its bullish momentum from a few days ago, it could rise above $8.5 again, potentially testing the next resistance levels at $9.1 or even $10.
To confirm this bullish scenario, Berachain would need to see renewed buying interest and strong upward momentum. If buyers can defend key support levels and push the price above resistance zones, it could indicate the continuation of the uptrend.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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