Crypto exchange Bullish has demonstrated a strong turnaround in profitability amid its institutional expansion. Yet its shares saw a correction, dropping 3.5% to $36.42 on the same day, falling below its IPO price of $37 a share. Classic: launch a rocket, then sell it for less than a toaster. 🚀🍞
The last time this happened, BMNR moved much earlier than Ethereum. With bottoming signs flashing across crypto, traders are watching to see if history is lining up once more. 🕵️♂️
The crypto economy is now doing the limbo, trying not to dip below the $3 trillion mark. Spoiler alert: it’s at $3.03 trillion as of 2 p.m. Eastern on Wednesday. 🕺 Bitcoin and Ethereum are sliding like they’re on a greased-up waterslide, but the real drama? It’s with the altcoins. They’re dropping faster than my standards on a Friday night. 🍸
But what sets this ETF apart, you ask? Ah, the staking! A feature as tantalizing as a chess problem, it allows the fund to earn rewards by locking up Solana assets, thereby bolstering the network’s security. A Total Expense Ratio (TER) of 0.21%? A mere trifle, a whisper in the wind of potential returns. 🤑
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The ETF, that financial ballet, has seen 11 days of retreat from its throne, only four blinks of hope in a sea of despair. On November 18, a record $523.2 million fled like frightened doves, while Fidelity’s FBTC wept rivers of red ink-$356.6 million on one day, $256.7 million on another. A carnival of losses, indeed.
Oh, the rate of Bitcoin (BTC) has descended by 0.64%-a number so small it’s almost a joke, yet it haunts the hearts of investors like a specter. 🧠
Kenya, with its freshly inked Virtual Asset Service Providers (VASP) Act, now watches as Bitcoin ATMs sprout like weeds in Nairobi’s malls. These kiosks, cheekily branded “Bankless Bitcoin,” taunt regulators who still hold their licensing pens in suspense. One might call it poetic justice-or perhaps a bureaucratic slap in the face.
Fidelity introduced the Fidelity Solana Fund (FSOL) on Tuesday, positioning it as the firm’s third spot crypto ETF and its first to incorporate staking. The fund begins trading on NYSE Arca at a moment of heightened competition in the Solana ETF segment, which remains relatively young but is rapidly attracting new issuers. 🏃♂️💨
