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👀VanEck Files For Solana ETF

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GM Defiers!

SOL is surging after VanEck, an investment management firm commanding $86 billion in assets, filed to launch a spot Solana ETF. However, convincing the SEC that SOL comprises a commodity and not a security may be a tall order.

Scroll is now the eighth largest Layer 2 network with $857 million in TVL. The blockchain’s TVL jumped 15% over the past week amid the launch of a new points campaign.

Marathon Digital revealed it is using up to 1% of its energy to mine KAS, Kaspa’s network currency. KAS is up 600% in the past 12 months, and is gearing up for the launch of native fungible tokens.

Plus, Zeta Markets airdrops tokens to early adopters, and digital assets flounder as a massive options expiry looms.

✍️ In today’s newsletter:

  • SOL spikes on VanEck Solana Trust filing
  • Scroll’s TVL jumps on renewed points campaign
  • Marathon Digital reveals KAS mining operations
  • ZEX rallies after Zeta airdrop
  • Massive options expiry hangs over crypto markets

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📈 Markets in the last 24 hrs:

TickerValue24h
the-defiantBitcoin$61,378-0.78%
the-defiantEthereum$3,358.86-1.65%
the-defiantBNB$571.96-0.98%
the-defiantSolana$136.67-1.83%
the-defiantXRP$0.47-1.38%

🎬WATCH

Check out our podcast with Suji Yan, the founder of Mask Network, to get his take on decentralized social media. Catch up on our tutorial on using DeFi automations. Plus, watch our documentary looking at Solana’s recent return to prominence!

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Stellar empowers builders to unlock human and economic potential. Explore the new Stellar smart contract platform, Soroban, designed for scale and sensibility.

the-defiant

The PayPal stablecoin PYUSD is live on Solana. PayPal has over two decades of payments experience, and is now making low-cost, high-throughput web3 payments possible through the PYUSD on Solana launch. Learn about PYUSD on Solana and start building the future of payments.

PayPal, Inc. is licensed to engage in virtual currency business activity by the New York State Department of Financial Services.

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Kresko is a novel synthetic asset protocol on Arbitrum. Join the largest points airdrop in DeFi. 690K+ addresses eligible. Check your eligibility now.

📈SOL Surges on VanEck Spot Solana ETF Filing

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The price of SOL surged 5% in 30 minutes as news broke that VanEck filed an application with the SEC to launch a spot Solana ETF. While the SEC has approved spot ETFs investing in Bitcoin and Ethereum, the securities regulator recently described SOL as an unregistered security in its lawsuits against Coinbase and Kraken last year.

⬆️Scroll TVL Crosses $800 Million After Kicking Off Next Phase of Points Program

Scroll is enjoying renewed momentum after launching a new phase of its airdrop points campaign. The Layer 2 network’s TVL is up 15% in the past week, positioning it as the eighth largest L2 ahead of Starknet.

⛏️Marathon Digital Mines Millions In KAS As Kaspa Surges

Marathon Digital, a major Bitcoin miner boasting a market cap of $5.48 billion, revealed it has been mining Kaspa (KAS) since September. While KAS has surged 600% in the past months, Marathon will limit its KAS mining to 1% of the company’s energy resources.

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ZkVerify is a dedicated zero-knowledge proof verification network designed for settlement optimization, built by Horizen Labs.

zkVerify is uniquely architected as the first modular solution for the settlement layer that collapses security costs by decoupling proof verification from settlement on L1s.

Horizen Labs estimates $47 million was spent on proof verification in 2023 for zkrollups on Ethereum alone, and industry studies anticipate zk proof generation will become a $10 billion market by the year 2030. zkVerify removes the cost and complexity of computationally intensive proof verification for developers building with zkrollups. At the outset, zkVerify can be used to verify proofs on Ethereum and Bitcoin with a 90%+ cost reduction, and will rapidly expand to support multiple blockchain architectures.

READ MORE: WHAT IS ZKVERIFY

🪂Zeta Markets Launches ZEX Airdrop

Zeta, a Solana-based perpetuals exchange, airdropped its ZEX token to users. Traders can claim 7% of the token’s supply, ecosystem partners can claim 1%, and 2% is earmarked for early ZEX stakers. The price of ZEX has doubled since the token went live.

📊Crypto Markets Flounder Ahead of Friday’s Mammoth Options Expiry

Investors are trading cautiously as massive options expirations loom at the end of the week. The combined crypto capitalization is up 0.4% in 24 hours after being buoyed by Solana’s sudden rally. Polkadot (DOT) notably rallied 8% in the past day.

🌍 ELSEWHERE

  • Coinbase sues SEC, FDIC over FOIA requests, says federal regulators trying to cut out crypto (The Block)
  • Julian Assange Received $500K Bitcoin Donation From Anonymous Bitcoin Whale (CoinDesk)
  • Tron Founder Justin Sun Wins Landmark Defamation Case Against Chinese Media Group (Bitcoin.com News)
  • US Government Sends $241 Million in Bitcoin to Coinbase: Arkham (Unchained)

🔥 TRENDING

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