Crypto Market Fluctuates Amid Slowing US Job Growth
GM Defiers!
Crypto markets are wavering as investors digest regulatory developments and macroeconomic data. However, crypto donations have surged past $1 billion in 2024, marking a major milestone for digital asset philanthropy.
Meanwhile, the SEC's acknowledgment of a Solana ETF application signals a potential breakthrough for altcoin funds, while VanEck’s latest report projects that SOL could reach $520 by the end of 2025.
✍️ In today’s newsletter:
- Crypto market wavers as US jobs data shows slowdown
- Memecoins lose $47B since TRUMP token launch
- Crypto exchange volumes drop for first time in months
- Story protocol reveals tokenomics
- VanEck predicts Solana could surge this year
- Solana ETF increasingly likely after SEC’s latest move
- Crypto donations surpass $1B in 2024
- Balancer V3 debuts on Arbitrum
- Arthur Hayes voices opposition for Bitcoin reserve
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📈 Markets in the last 24 hrs:
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📊Crypto Market Wavers as US Jobs Report Signals Slowing Economy
The crypto market recorded little movement on Friday as investors digested the latest US jobs report, which showed a slowdown in hiring. Bitcoin (BTC) rose 1.4% to $97,900, while Ethereum (ETH) dipped 0.7% to $2,680.
📉Memecoins Lose $47 Billion in Market Capitalization Since TRUMP Launch
The memecoin market has lost nearly $50 billion since TRUMP's launch, with total memecoin capitalization dropping 40% to $70 billion. That’s a $56 billion decline from its December peak.
⬇️Crypto Exchange Volumes Drop for First Time In Four Months: CCData
Centralized crypto exchange volumes fell in January for the first time in four months, with total spot and derivatives trading dropping 20.2% to $9.03 trillion, according to CCData.
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🗣️Story Protocol Reveals Tokenomics Ahead of Mainnet Launch
Story protocol unveiled its tokenomics ahead of its mainnet launch. More than half of the 1 billion token supply will be allocated to the community.
💰VanEck Predicts Solana Could Hit $520 in 2025
VanEck predicts Solana (SOL) could hit $520 by the end of 2025, citing its growing market share among smart contract platforms.
👩🏻⚖️Solana ETF Increasingly Likely After the SEC’s Unprecedented Step
The SEC has acknowledged an application for a Solana ETF, marking a potential shift in its stance on altcoin funds. The filing, submitted by NYSE Arca for the Grayscale Solana Trust, starts a review process with a final decision due by Oct. 11.
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📈Crypto Donations Surpass $1 Billion in 2024, Marking Major Growth
Crypto donations surpassed $1 billion in 2024, the highest since 2021, according to The Giving Block. The report highlights a 386% surge in average donation size to $10,978, with 70% of Forbes' Top 100 Charities now accepting crypto.
📢Balancer V3 Launches on Arbitrum with Aave Integration
Balancer V3 is now live on Arbitrum, bringing 100% boosted pools that channel idle liquidity into yield-generating platforms like Aave.
🏦Arthur Hayes is Against a Strategic Bitcoin Reserve
Arthur Hayes isn’t betting on politicians to shape crypto’s future. In his latest blog post, the former BitMEX CEO argues against a strategic Bitcoin reserve and dismisses the idea that regulatory clarity will benefit everyone.
🌍 ELSEWHERE
- GameStop stock surges 8% because it might get into Bitcoin (Quartz)
- Michael Saylor's Strategy scoops up more Bitcoin after brief pause (TheStreet)
- Binance Bitcoin Reserves Slumped $355M in January as User Balances Rose by $4.4B (CoinDesk)
🔥TRENDING
- Crypto Donations Surpass $1 Billion in 2024, Marking Major Growth
- Solana ETF Increasingly Likely After the SEC’s Unprecedented Step
- VanEck Predicts Solana Could Hit $520 in 2025
- Story Protocol Reveals Tokenomics Ahead of Mainnet Launch
- Crypto Exchange Volumes Drop for First Time In Four Months: CCData
- Memecoins Lose $47 Billion in Market Capitalization Since TRUMP Launch
