Crypto market
On Nov. 21, 2023, the Securities and Exchange Commission (SEC) sued Kraken in court, accusing the U.S.-based cryptocurrency exchange of commingling customer and company funds and operating an unregistered securities exchange, clearing agency, and broker-dealer https://tonapp.store/gambling/ne-casino/. Kraken filed to have the charges dismissed in February 2024, but in August, a federal judge ruled that the lawsuit was valid, allowing it to go to trial.
The SEC’s November 2023 lawsuit was similar to the previous lawsuit, but it also alleged that Kraken had failed to register its spot trading platform as an exchange. The SEC argued that Kraken’s spot market is a platform where investors can trade securities and that Kraken should have registered with the SEC as an exchange.
Cryptocurrencies available on Kraken include bitcoin (BTC), ether (ETH), EOS (EOS), solana (SOL), and non-fungible tokens (NFTs). The Kraken trading platform also allows cryptocurrency derivatives and futures.
Solana crypto
As such, a strong payments ecosystem has developed on Solana, with support from traditional companies like Visa, PayPal, Shopify, and Stripe, alongside numerous crypto-native protocols. Breakpoint featured several payments-related developments, including:
Users can observe the network’s energy performance directly through a real-time emissions dashboard, recently updated to comply with new Markets in Crypto Assets (MiCA) regulations. These efficiencies, coupled with the Solana Foundation’s dedication to sustainability and a burgeoning decentralized environmental sector, make Solana a popular solution for environmental projects.
Since the last Energy Use report in December 2023, the Solana network reduced its carbon footprint 69%, from approximately 8,786 tCO2 in 2023 to an estimated 2,671 tCO.2 in 2024. That’s roughly equivalent to the annual carbon production of 167 Americans, who each produce about 16 tons of carbon dioxide each year. 7 The figures below detail the Solana network’s carbon impact.
The total value of tokenized treasury products on Solana has doubled in the past thirty days to $123 million, driven by $50 million USDY moving from Ethereum to Solana on Sept. 23. Solana ranks third in tokenized treasuries among all networks, behind Ethereum ($1.6 billion) and Stellar ($422 million). However, several recent developments could spur more growth in this area.
In Q3’24, 29 projects built primarily on Solana announced private fundraises totalling $173 million, the highest quarterly figure since Q2’22. Additionally, each month in Q3’24 saw sequential growth, with September’s $103 million marking the strongest month since June ‘22.
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In fact, recent ETH spot ETF data shows that the inflows have increased dramatically in recent weeks, reaching their highest inflow day of nearly $333 million on November 25th. BlackRock’s ETHA and Fidelity’s FETH logged the highest inflows, with $250 million and $79 million, respectively. It’s worth noting that that was the highest daily inflow figure since July.
Launched in 2015 by Vitalik Buterin and a team of developers, Ethereum is a decentralized, open-source blockchain platform that allows developers to build decentralized applications (dApps) and smart contracts.
The market activity could be a reflection of the growing confidence in Chainlink and its goal to capture a large chunk of the growing RWA market, which could grow to $10 trillion by 2030, according to some reports. Just recently, the company partnered with Coinbase’s Project Diamond, a platform designed for tokenized assets that is regulated by the Abu Dhabi Global Market.
It’s worth noting that the Trump-backed DeFi project bought ETH and AAVE as well. “To me, it is a way to gain additional trust or a way to boost the project by shedding light on these assets as the project will likely do well if these assets do,” explained the investment Nicolai Søndergaard, Nansen’s research analyst.
Bitcoin (BTC) is the original decentralized digital currency, enabling peer-to-peer transactions without the need for intermediaries such as banks or financial institutions. It was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin was the first digital currency to eliminate the double spending problem without resorting to any central intermediaries.
For astute investors, crypto assets can be an interesting addition to a diversified portfolio. However, they require careful research, strong security practices and a strong stomach to weather the volatility they bring. The Australian Government is yet to introduce legislation to Parliament to regulate crypto markets, and until they do, it will remain a haven for scammers.
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