Keep up the curve with News that you have lost this week!
In this edition, we bring you the main stories that flew under the radar. Put up a day in minutes and stay informed with the stories that matter the most.
Elon Musk supports blockchain so that the United States Treasury fights fraud
Elon Musk has publicly supported the use of blockchain technology to improve transparency in the United States Treasury operations. His support follows concerns about career treasure officials, which stood out in previous publications that led to their support for technology.
The discussion was caused when cryptographic commentator Mario Nawfal asked about X if the treasure of the United States should implement blockchain to prevent fraud. Musk responded with a decisive “Yes!” This caused a generalized debate between the technological, governmental and blockchain communities, particularly on the social networks platform.
As head of the Government Efficiency Department (Doge) under President Donald Trump, Musk has advocated simplified government processes.
Vaneck predicts that Solana (Sun) could reach $ 520 at the end of 2025
The Vaneck investment firm predicts that Solana (Sol) could reach $ 520 at the end of 2025, promoted by an M2 money supply and a growing demand for intelligent contract platforms (SCP).
- The firm estimates that supply M2 will increase to $ 22.3 billion, increasing liquidity and encouraging more cryptocurrency investments.
- Meanwhile, it is projected that the SCP market, where Solana competes, will grow 43% to $ 1.1 billion, and the Solana market share is expected to increase from 15% to 22% for the end of the year 2025.
Using a self -representive prognosis (AR) model, Vaneck estimates that the Solana market capitalization could reach $ 250 billion, which implies a price of $ 520 per sun based on 486 million floating tokens.
- The company attributes this growth to the domain of Solana in the developer’s activity, the increase in DEX volumes, the increase in income and an expanding active user base.
- If these trends continue, Solana could become a leading force in the Blockchain space, competing with Ethereum for the market share in decentralized applications.
Vaneck is also among several US companies that requested a Solana ETF in 2024, although the SEC had initially rejected such applications.
The Z generation leads the adoption of cryptographic: more than 50% invest in digital assets, according to Gemini’s report
A recent Gemini survey revealed That more than 51% of the Z generation (age of 18 to 29) has had or currently the cryptocurrency, significantly exceeding the rate of 35% of the general population.
- The 2024 crypto state report, which surveyed 6,000 adults in the United States, the United Kingdom, France, Singapore and Turkey, highlights the strong commitment of generation Z with digital assets.
- In the United States, 33% of the surveyes of generation Z feel comfortable by assigning at least 5% of their wallets to cryptography, showing their confidence in the sector.
Despite regulatory uncertainties, generation Z seems less concerned about government supervision, with only 31% agree on the need for greater regulation, compared to 46% of the general population.
- In addition, 48% of the Z generation considers cryptography as a main investment generating income, exceeding the average of the general population of 41%.
- In the United Kingdom, 42% of the surveyed of the Z generation use cryptography as coverage against inflation, a significantly higher rate than the national average of 32%.
The survey also highlights the influence of Bitcoin Spot ETFs, with 48% of generation Z respondents stating that they are more likely to invest in cryptography through ETF, compared to 37% in all age groups .
Sony’s Soneium Lanza First Music Nft Collection with Coop Records
The Sony Soneium Blockchain platform has presented its first Music NFT collection in collaboration with web3 Label Coop Records.
- The launch presents unpublished clues of the producer based in Tokyo Nuu $ HI and is available in Sonova, the Soneium NFT market. ‘
- With a price of 0.000777 ETH ($ 2.11), the collection has coined 124 of 999,999 NFT so far, indicating a slow adoption.
Coop Records, founded by the Cooper Turley cryptographic businessman, has previously brought 600 songs in the chain, working with the main artists.
- However, Turley himself has recognized the struggles of creative token, citing expensive income expectations and the lack of sustainable models based on Token.
Meanwhile, Soneium registered 14 million user accounts and 47 million transactions during the tests, but long -term adoption remains uncertain.
CBOE seeks the approval of the SEC for four ETF spot XRP in the middle of the market recession
Chicago’s exchange of CBOE has submitted four applications to the SEC to list and exchange ETF XRP of Spot of Wisdomtree, Bitwise, 21Shares and Canary.
- These presentations are produced as asset administrators aim to capitalize on the impulse of Bitcoin and Ethereum ETF approval last year, despite the fact that XRP’s price fell 25% in two weeks.
The four ETF applicants depend on the ruling of the Ripple Laboratories Court of July 2023, which argued that XRP programmatic sales did not constitute securities offers.
- However, the SEC has appealed this decision, seeking to classify XRP as security under federal law. Unlike Bitcoin and Ethereum, XRP lacks a CME futures market, which had been a key condition for the approvals of previous cryptographic ETF.
- To address concerns, asset administrators propose safeguards, such as obtaining XRP from secondary markets, using third -party custodians and implementing surveillance measures to improve market integrity.
The dry now has 45 days to review the applications, with possible extensions of up to 90 days.
This article is published in bitpins: Crypto News that may have lost this week | February 8, 2025
