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Solana ETF ‘still in play’ despite Cboe filing removal — VanEck exec

August 19, 2024 Coin Telegraph

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VanEck is still advocating for its Solana ETF with regulators, said Matthew Sigel.

Asset manager VanEck’s plans for a Solana exchange-traded fund (ETF) are “still in play” despite the removal of Cboe Global Markets’ regulatory filing proposing to list the fund on its exchange, according to an X post by Matthew Sigel, VanEck’s head of digital assets research.

“Some have noticed that the 19b-4 for the VanEck Solana ETF has been removed from the CBOE website,” Sigel said, adding:

On July 9, national securities exchange Cboe filed a request with the United States Securities and Exchange Commission seeking to list VanEck’s and 21Shares’ planned SOL (SOL) ETFs and asking the SEC to make a final decision by March. The filing is referred to as a 19b-4 and is distinct from the S-1s filed by issuers.

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EigenLayer’s EigenDA touts 10x cut in data prices

August 19, 2024 Coin Telegraph

Coin Telegraph

The data availability protocol is also introducing a "free tier."

EigenDA, EigenLayer’s data availability protocol, has cut prices for its service by 10x and introduced a ‘free tier’, according to an Aug. 19 EigenLayer blog post.

EigenDA is a “data availability layer” operating on EigenLayer’s Ether (ETH) restaking platform designed to reduce the costs of storing and accessing onchain data for Ethereum’s layer-2 scaling chains. The price cut comes as EigenDA is pushing to onboard more layer-2s to its platform, which launched in April.

EigenDA’s mission is to make “reliable, scalable, and secure data availability (‘DA’) abundant,” according to the blog post. “In pursuit of this goal, and enabled by the scalability of its design, EigenDA strives to be the most price-performant DA solution.”

Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Tokenized RWAs are ’a $30 trillion opportunity’ — Polygon exec

August 19, 2024 Coin Telegraph

Tokenized RWAs are ’a trillion opportunity’ — Polygon exec

Coin Telegraph

High-net-worth individuals and private equity funds will drive adoption, said Colin Butler.

Tokenized real-world assets (RWAs) represent a $30 trillion market opportunity globally, Colin Butler, Polygon’s global head of institutional capital, told Cointelegraph in an interview.

Adoption will largely be driven by high-net-worth individuals dramatically increasing portfolio allocations to alternative assets — such as private credit — as tokenization brings liquidity and accessibility to historically illiquid asset classes.

“The idea is that there are $300 trillion in global assets, half of which—$100 trillion—are owned by individuals with net worths between $1 million and $30 million” whose portfolio allocations to alternative assets are often negligible, Butler said.

Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Colorado Church group tokenizes $2.5M chapel

August 18, 2024 Coin Telegraph

Colorado Church group tokenizes .5M chapel

Blockchain

This may be the first tokenized church in the world.

A network of affiliated church groups called the “Colorado House of Prayer” has tokenized its main chapel in an effort to purchase the $2.5 million building.

The pastor heading the project, Blake Bush, says he was compelled by a higher power to use blockchain technology as a tool for advancing the group’s mission.

According to a report from Forbes, Bush’s congregation and other church groups had been renting the building from its owner, a local businessperson who also owns a car dealership.

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Dubai Court Recognizes Cryptocurrency for Salary Payments

August 17, 2024 Bitcoin.com

bitcoin.com

In a landmark decision, the Dubai Court of First Instance has recognized the payment of salaries in cryptocurrency under employment contracts, marking a significant shift in the United Arab Emirates (UAE)’s legal approach to digital currencies. The 2024 ruling, case number 1739 of 2024, contrasts with a 2023 decision where a similar claim was rejected […]

Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Franklin Templeton files S-1 for new crypto index ETF

August 16, 2024 Coin Telegraph

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Issuers are lining up for the next wave of cryptocurrency exchange-trade funds.

Asset manager Franklin Templeton is seeking to launch a new exchange-traded fund (ETF) designed to as a one-stop-shop crypto portfolio, according to an Aug. 16 filing.

The Franklin Crypto Index ETF will track the performance of the CF Institutional Digital Asset Index, which currently only comprises Bitcoin (BTC) and Ethereum (ETH), the filing said.

“The Fund will seek to achieve its investment objective by investing in the Digital Assets in approximately the same weights as they represent in the Underlying Index,” according to the filing, which says that the ETF may hold additional types of cryptocurrencies in the future.

Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

DeFi market stages a comeback as derivatives surge

August 16, 2024 Coin Telegraph

Coin Telegraph

Onchain derivatives fuel DeFi’s resurgence, with daily volumes reaching $5 billion amid rising competition.

Following a relatively modest 2023, the decentralized finance (DeFi) market experienced a remarkable resurgence during the first half of 2024.

As of Aug. 16, the total value locked (TVL) within the ecosystem stands at $82.67 billion, up from $54.4 billion at the beginning of the year — representing a robust growth of 51.9%.

One of the primary drivers behind this substantial uptick has been the growing adoption of onchain derivatives. In fact, since the beginning of the year, the average daily trading volume for crypto derivatives has skyrocketed from $1.8 billion in 2023 to $5 billion.

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New DeFi protocol Nudge aims to unlock hidden value in users’ wallets

August 15, 2024 Coin Telegraph

Coin Telegraph

Nudge seeks to unleash a new DeFi primitive called Re: allocation Value.

Nudge is launching a new decentralized finance (DeFi) protocol on Ethereum designed to unlock the economic value hidden in users’ wallets, it told Cointelegraph on Aug. 15.

It aims to create a two-sided marketplace where Web3 protocols pay users incentives — or “Nudges” — to redirect onchain assets, liquidity and engagement.

Nudge will unleash a new DeFi primitive called “Re: allocation Value” that represents the economic value of users’ onchain activities, according to the company.

Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Crypto ETFs will expand to new asset types, indexes — Grayscale executive

August 12, 2024 Coin Telegraph

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The pace of adoption of crypto exchange-traded funds in the United States has been surprising even to Grayscale.

The market for cryptocurrency exchange-traded funds (ETFs) will expand to encompass new types of digital assets as well as diversified crypto indexes, according to an executive at asset manager Grayscale Investments.

“We're going to see a number of more single asset products, and then also certainly some index based and diversified products,” Dave Lavalle, Grayscale’s global head of ETFs, said during an Aug. 12 webinar.

Grayscale is among the largest issuers of crypto ETFs, with upward of $25 billion in assets under management (AUM) across its United States-listed crypto ETFs. Its US exchange-traded products currently comprise single-asset Bitcoin (BTC) and Ether (ETH) funds.

Cryptoquant Report: Record-Breaking Activity Propels Altcoins to New Heights

Bitrace warns of new crypto scam using QR codes

August 8, 2024 Coin Telegraph

Coin Telegraph

The scam starts with a small payment of Tether (USDT) to the user.

According to a social media post by blockchain analysis firm Bitrace, scanning the wrong QR code could drain users’ wallets.

Bitrace is warning of a new type of crypto scam “where theft is carried out through a payment QR code transfer test, essentially deceiving users into authorizing wallets.”

According to Bitrace, the scam follows a specific pattern. First, the scammer proposes that the user swap tokens over-the-counter (OTC) — through a wallet-to-wallet transfer rather than an exchange — and offers an exchange rate that beats the market.

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