NewsBriefs - Solana meme coins outpace Ethereum in 2024 gains

Jul 3, 5:20 PM Crypto Briefing

Solana meme coins outpace Ethereum in 2024 gains

In 2024, Solana-based meme coins have substantially outperformed their Ethereum counterparts, recording average returns of 8,469% versus 962% for Ethereum. This discrepancy underscores a major influx of speculative investment into the Sol relief. Notable crypto tokens like WIF and BONK on Solana have fueled further capital migration and investment due to their substantial rallies. Additionally, the emergence of political meme coins, specifically the MAGA (TRUMP) token, has gained significant attention with a 5,100% increase, spurred by political endorsements and campaign support, reflecting a broader integration of crypto in the upcoming November US elections.

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• Nov 13, 3:30 AM Bitcoinist

  Federal judge denies former Celsius CEO's dismissal request in fraud case

  Former Celsius Network CEO Alex Mashinsky faces ongoing legal challenges as a US federal court has denied his motion to dismiss charges of crypto price manipulation and fraud. This ruling by Judge John Koeltl ensures that Mashinsky will contend with all seven charges against him related to his leadership at the defunct crypto platform. The judge dismissed the arguments that the same conduct should not lead to multiple charges under different acts, reinforcing the seriousness of the allegations.

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• Nov 12, 9:55 PM Cointelegraph

  Italy's government proposes reducing planned crypto tax increase to 28%

  Italy's government has revised its plan, proposing to increase the capital gains tax on crypto from 26% to 28%, rather than the previously considered 42%. Finance Minister Giancarlo Giorgetti supported this new proposal, which is still under review by Italian lawmakers.

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• Nov 12, 6:39 PM Coindesk

  El Salvador and Bhutan see significant growth in bitcoin holdings amid market rally

  El Salvador's bitcoin holdings surpassed $500 million, while Bhutan's exceeded $1 billion after a recent bitcoin market rally. Bhutan's BTC now represents over one-third of its GDP, compared to El Salvador's 1.5%. Despite fiscal concerns by the International Monetary Fund, El Salvador continues to show improvement in its financial strategies by intending to buy back $2.5 billion of its dollar-denominated debt.

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• Nov 12, 11:40 AM Coindesk

  Ethereum researcher Justin Drake unveils Beam Chain, a comprehensive redesign of the consensus layer

  Ethereum Foundation researcher Justin Drake introduced the Beam Chain at the Devcon Conference in Bangkok, a significant redesign of Ethereum's consensus layer. This proposal incorporates major upgrades including enhanced block production, staking processes, and integrated zero-knowledge cryptography. Beam Chain aims to consolidate these big changes into one package, improving transaction finality and frequency. Although no immediate changes will occur, this marks a pivotal shift in Ethereum's developmental focus and strategy, potentially addressing technical debts and optimizing future upgrades

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• Nov 12, 7:26 AM Cointelegraph

  GIGA investor loses $6M in phishing scam involving fake Zoom link

  A crypto investor lost $6.09 million after falling victim to a phishing attack through a fake Zoom invitation link. The attack led to the theft and sale of 95.27 million Gigachad (GIGA) tokens, which were exchanged for Solana and then stablecoins, before being transferred across wallets. The investor has reported the incident to the Federal Bureau of Investigation and remains optimistic of recovering the funds amidst an ongoing bull market.

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• Nov 11, 2:35 PM The Block

  Global crypto funds reach new peak of $116 billion in assets under management

  Global crypto funds have seen five consecutive weeks of net inflows, adding $1.98 billion recently, which brings this year's total to $31.3 billion. Following the US election, total assets under management surged to an all-time high of $116 billion. US-based funds contributed the majority with $1.95 billion of the inflows, while Bitcoin and Ethereum products recorded significant inflows of $1.8 billion and $157 million respectively last week. Additionally, blockchain equities added $61 million, showing broad support across crypto assets.

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• Nov 10, 3:54 PM Bitcoin Sistemi

  Dogecoin surpasses XRP in market cap amid Elon Musk speculation

  Dogecoin has overtaken XRP in market cap, reaching $35 billion after a 14% price increase in 24 hours and 55% weekly gain. The surge is linked to speculation about Elon Musk's potential role in a Trump administration, focusing on government efficiency. DOGE's price hit $0.23, a level not seen since November 2021, and it could soon overtake USDC if the momentum continues. Trump has expressed support for Musk to lead a government efficiency commission in a potential second term.

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• Nov 10, 2:32 PM Bitcoin Sistemi

  North Korean hackers target MacOS crypto users with new malware

  North Korean hacker group BlueNoroff has developed new malware targeting MacOS crypto users. The "Hidden Risk" operation uses fake PDF files to install secondary malware, giving hackers remote access to victims' computers. SentinelLabs reports the malware exploits MacOS Zsh configuration files, making it difficult to detect and remove. This sophisticated attack poses a significant threat to crypto firms and individuals, potentially compromising sensitive data and private keys.

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• Nov 8, 11:50 AM Deutsche Bundesbank

  Germany’s central bank joins Singapore's Project Guardian to boost asset tokenization

  Germany’s Bundesbank has joined Project Guardian, Singapore's initiative to advance asset tokenization in financial markets. Deutsche Bundesbank will test an interoperable blockchain platform for tokenized and digital funds, aiming to enhance cross-border collaboration and standardization. This move aligns with Singapore's efforts to promote tokenized asset commercialization and deepen market liquidity. The collaboration is expected to leverage expertise from both countries to explore meaningful applications of asset tokenization in the financial sector.

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• Nov 7, 11:41 AM Coindesk

  SEC moves to dismiss three of Kraken's defenses in US lawsuit

  The SEC has asked a California court to dismiss three key defenses from crypto exchange Kraken in an ongoing lawsuit. The regulator rejects Kraken's claims about unclear securities laws for crypto, lack of fair notice, and the major questions doctrine. The SEC sued Kraken in November 2023 for operating as an unregistered securities platform, alleging unlawful facilitation of crypto asset securities trading since 2018. The motion aims to narrow the scope of discovery and prevent repeated litigation of the same issues.

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• Nov 7, 9:31 AM Cointelegraph

  SEC commissioner Mark Uyeda likely to become next chair under Trump

  With Donald Trump’s victory in the 2024 US presidential election, SEC Commissioner Mark Uyeda is now a top contender for SEC chair. Uyeda, known for his criticism of current chair Gary Gensler's crypto policies, advocates for a regulatory approach with less emphasis on enforcement. Although some speculated about Commissioner Hester Peirce's chances, experts suggest her appointment is unlikely. Trump is expected to prioritize rolling back the current administration's stringent crypto regulations and enforcement actions against major firms.

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• Nov 6, 6:09 PM Coindesk

  Trump wins second term as US president, signaling positive shift for crypto

  Donald Trump's victory in the US presidential election is seen as a win for crypto. Analysts expect a more permissive regulatory environment, with potential changes in SEC leadership. Bitcoin hit an all-time high post-election, with predictions of further growth. Tether may benefit from Trump's win, while Circle could face challenges. Solana and DeFi projects are expected to gain, with a broader market rally anticipated. Trump's crypto policies include creating a Bitcoin strategic reserve, banning central bank digital currency, and freeing Ross Ulbricht.

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• Nov 5, 4:15 PM Coindesk

  US election outcome could shape crypto regulation for years

  Today's US election is crucial for crypto's future. The makeup of Congress and the White House will determine potential legislation and regulation. FIT21 and a Senate Agriculture Committee bill are key legislative options. Crypto PACs have invested heavily in certain races, with $40 million spent to unseat Senator Sherrod Brown. The election's outcome will impact the timing and content of any crypto bills passed. Voters are considering various issues beyond crypto, with the industry not ranking as a top concern for most.

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• Nov 5, 3:45 PM Cointelegraph

  VanEck to launch PYTH ETN in Europe

  VanEck listed a PYTH token ETN on Euronext Amsterdam and Paris, available in 15 European countries. The ETN tracks the MarketVector Pyth Network VWAP Close Index and is fully collateralized with physical PYTH tokens. Pyth Network, a decentralized oracle protocol, has a $3.4 billion market cap. VanEck's CEO highlighted the importance of oracle networks in DeFi applications. The US presidential election may impact pending crypto ETF approvals.

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• Nov 4, 11:11 AM Coindesk

  Bitcoin likely to rally after US election regardless of winner

  Bitcoin is expected to surge past $100,000 following the US election, based on historical trends. Previous post-election rallies saw BTC gain 12,000% in 2012, 3,600% in 2016, and 478% in 2020. Despite diminishing returns, projections suggest a potential 47.8% increase to $103,500 by Q4 2025. BTC is currently undervalued compared to previous cycles, measured from either the cycle low or halving event. The crypto market may remain volatile until election results are finalized.

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