Category: Crypto market

CME: Solana Listed on World’s largest Futures Exchange

Posted on by Olumide Adesina

The CME Group declared the listing of Solana (SOL) futures on March 17.

The plans were disclosed in a press release issued by the derivatives market on February 28 pointing out that regulatory review affects the SOL futures product’s launch.

The world’s largest futures exchange will provide a larger contract of 500 SOL and a micro-sized contract of 25 SOL when approved.

CME Group’s global head of cryptocurrency products, Giovanni Vicioso, stated that the new SOL futures contracts were because of growing customer demand for a wider range of regulated products to manage cryptocurrency price risk.

CME Group states that the SOL futures product will follow the CME CF Solana-Dollar Reference Rate and be cash-settled.

CME is prepared to expand its range of cryptocurrency products with the upcoming introduction of SOL futures

Teddy Fusaro, president of Bitwise, stated that the introduction of SOL futures marks a critical turning point in the continuous development of the cryptocurrency market.

Fusaro stated: “CME Group cleared the path for more regulated financial products like ETFs to enter the market and for the wider institutionalization of cryptocurrency as an asset class with the launch of Bitcoin and Ether futures. “.

The introduction of Solana futures contracts by the platform is viewed by market participants as the first step toward Solana spot exchange-traded funds receiving regulatory approval. The U.S. Securities and Exchange Commission has accepted several proposed rule changes that allow spot SOL ETFs to be listed and traded.

 

Solana Jail Break on $150 Mark

Posted on by Olumide Adesina

The popular altcoin showed signs of recovery after it posted 14% gains in the early hours of Saturday.

 

Solana’s $150 resistance line is not merely a psychological barrier; historical evidence indicates that it has served as a defining threshold for bulls’ reaction.

The altcoin experienced a notable surge in profit-taking after reaching its highest point ever on January 19, $295.83. As a result, the coin’s price has dropped to multi-month lows; trading at levels last observed in October.

Price action showed Solana’s Relative Strength Index (RSI)  dropped below the 32 mark for the first time since June 2023. .  SOL is significantly oversold, suggesting that the selling pressure may have subsided and that the bulls might likely take control.

SOL is trading at $147, just above the $145 support level. This support level should fortify if buying pressure on the altcoin resumes, pushing the price closer to the $182 mark, where significant resistance is located.

It battled to stay stable before finally dropping below and going into a protracted decline amid erratic market conditions triggered by President Trump’s tariffs.

The Glassnode data shows that sustained dips below this threshold have historically triggered long-term bearish periods. Stronger rallies have resulted from recoveries above it, though. If SOL can maintain a price above $150, it may provide a basis for growth and possible gains.

BlackRock’s Bitcoin ETF Expands Exposure

Posted on by Olumide Adesina

The iShares Bitcoin Trust (IBIT) has been integrated into BlackRock’s model portfolio offerings, marking a significant advancement.

This includes a modest one to two percent allocation that is especially meant for its Target Allocation with Alternatives portfolios.

This methodical approach targets investors prepared to take on more risk in exchange for possibly higher returns.

According to a BlackRock representative, “Target Allocation with Alternatives models allocate to a core allocation of stocks and bonds plus liquid alternative investments, investing across the full risk spectrum.”. ”

The choice of adding Bitcoin to these portfolios is a noteworthy development in which conventional finance is growing more open to the cryptocurrency markets.

The spokesperson underlined that IBIT’s inclusion as a helpful diversified satisfies risk-tolerant clients’ investment objectives.

Model portfolios are becoming popular among financial advisors, so BlackRock’s approach might maintain interest in this cutting-edge product and draw in new customers.

IBIT debuted in January 2024 and quickly became a remarkable success, accumulating assets under management of $60 million before any other ETF in the three-decade history of the industry.

IBIT has recently seen substantial swings despite this early spike; according to reports, it lost more than $1 billion in assets within a week because of erratic market conditions brought on by growing inflation and economic uncertainty.

It still has roughly three times as many assets as its main rivals today, demonstrating its solid positioning amid recent downturns.

 

SEC holds up Fidelity’s Spot Ethereum ETF

Posted on by Olumide Adesina

The Securities and Exchange Commission has postponed deciding on Cboe Exchange’s request to list options on the spot Ethereum exchange-traded fund of Fidelity Investments.

 

The SEC announced that it was moving forward with its decision on Ethereum. U.S. Federal law stipulates that the agency may take an extra 60 days to make a final decision if one is not made within the first 180-day review period.

Cboe will have to wait longer to find out if it has been approved to list options contracts on Fidelity’s Ethereum Fund, which is denoted by the ticker FETH.

The SEC stated it prolonged the review period to give “enough time to consider the proposed rule change.”

Cboe submitted a regulatory approval request to list Ether ETF options on August 19, 2024.

The timeline for this proposal shows that the 180-day deadline would have been March 3 and the full 240-day review period would have begun on May 2, 2025. This implies that the SEC’s final decision is due May 2, 2025.

Market sentiment is generally positive, considering the SEC’s recent change to a more encouraging posture.

Ripple Expands XRP, RLUSD adoption in South Korea

Posted on by Olumide Adesina

Ripple’s presence in the Asia-Pacific (APAC) region is growing with a new partnership in South Korea.

Ripple slipping toward $2

The new partnership will utilize South Korea’s thriving cryptocurrency regulatory environment, including the Busan blockchain regulation-free zone.

BDACS, a South Korean institutional crypto storage provider, has teamed with the enterprise blockchain company to enable institutional custody for XRP and Ripple’s US dollar-backed RLUSD stablecoin.

BDACS will integrate Ripple Custody, the company’s storage service, to safeguard XRP, RLUSD, and other digital assets for South Korean financial institutions. Ripple president Monica Long emphasized the importance of institutional-grade custody given the rise in corporate interest in cryptocurrencies.

In a statement, Long expressed his excitement about Ripple Custody planting another flag in APAC with BDACS for XRP and RLUSD, saying, “South Korea is preparing for a wave of institutional crypto adoption.” Harry Ryoo, CEO of BDACS, commented on the news and stated that his organization is dedicated to offering safe infrastructure for cryptocurrency use by institutions.

“BDACS will help Ripple’s innovative blockchain efforts by offering a safe and dependable custody solution. In the end, this collaboration would allow both businesses to improve and grow the ecosystem of digital assets,” Ryoo stated.

Interestingly, Korean regulators are now working to clarify rules governing companies’ involvement in stablecoins and cryptocurrency assets.

Ripple claims that the partnership complies with the Financial Services Commission’s (FSC) regulatory approval roadmap in South Korea.

The firm clarified: “This partnership will leverage synergies with Busan, Korea’s blockchain regulation-free zone, expand the usability of Ripple’s stablecoin (RLUSD), and support the growth of XRPL developers and its ecosystem.”. “

Forex Signals Brief February 28: Will PCE Inflation Help the USD Rally?

Posted on by Skerdian Meta

Yesterday the USD jumped 1 cent higher, while today the US PCE inflation report might extend the bullish move.

Markets are already anticipating a strong PCE reading
Markets are already anticipating a strong PCE reading

Continue reading “Forex Signals Brief February 28: Will PCE Inflation Help the USD Rally?” →

Bitcoin, XRP Fall Turns Stellar XLM into Red Sea

Posted on by Olumide Adesina

Stellar Lumens fell for the fifth day in a row as panic swept through the cryptocurrency market. Stellar (XLM) dropped to $0.256, the lowest this year, and is currently 68% below its November peak. The altcoin is down 11% for the day.

 

Market indicators revealed that XLM is closer to a death cross sign, an intersection of the( 200-day and 50-day moving averages). It has also dropped below the Fibonacci retracement level of 61.08 percent, a crucial technical area where most pullbacks occur

Stellar and Ripple have historically been closely related because of their close origin in the cryptocurrency industry. XRP has also been under a lot of selling pressure and has lost a fifth of its value within a week. XLM’s crash coincided with Bitcoin and XRP amid weak risk appetite

Bitcoin entered a corrective phase, dropping below $80,000 and losing almost 37% of its peak of $109K, which was reached during Trump’s inauguration on January 20.  The asset’s recent bad performance wiped out 2025 gains. 

The Crypto Fear and Greed Index recently reached an “Extreme Fear” score of 10, its lowest level in two years as market sentiment sharply declined. 

Stellar’s fundamentals point to more downside risk. According to Santiment data, XLM’s overall open interest dropped to 64.05 million, the lowest since November 15.  Reduced attention on social media is also indicated by the social volume metric, which has fallen to 0.28 from its peak of 0.55 last year. High social media engagement has historically been associated with a bullish momentum in the crypto market

Tensions between the US and some of its biggest trading partners, including China, Canada, and Mexico, have been rising, contributing significantly to the downturn in the digital space. There was a standoff because President Donald Trump declared new tariffs on goods from the three nations.

Trump’s Tariffs turns Ripple’s XRP into Tomato Paste

Posted on by Olumide Adesina

Ripple’s XRP is down 8% for the day as it struggles to maintain the $2 support level.

XRP may find support close to the lower edge of the descending channel if bearish pressure continues and can’t maintain the $2 critical level.

Ripple-based tokens must maintain a prolonged move above the upper boundary ($2.2) to reverse bearish sentiments

XRP’s exponential moving average lines are aligned in a bearish manner, with shorter-term lines below longer-term ones.

XRP might fall around the $1.8 support line, if the $2 mark is broken, marking the first time it has dropped below $2 since November 2024.

There were fewer XRP Active Addresses than there had been since November 2024. This metric is significant because it gauges network activity and user engagement.

A fall suggests diminished interest and pessimistic sentiment while a rise signifies increasing participation and possible buying pressure. XRP’s bearish momentum was exacerbated by the steep weak appetite for risk, highlighting waning investor interest.

The remittance token has been trading below $3 for almost a month, indicating a correction phase.

However, if the SEC withdraws its lawsuit against XRP, there may be a reversal, leading to a rally toward significant resistance levels. On-chain data showed whales were suppressing the selling pressure from short-term holders since the recent crash in the crypto market.

SEC Calls Doge, Pepe, Shiba Inu, TRUMP Non- Securities

Posted on by Olumide Adesina

The Securities and Exchange Commission clarified meme coins like Doge, Pepe, and Shiba Inu are exempt from federal securities laws in an official statement on its website.

Politicians and their families are not allowed to create meme coins, according to a Modern Emoluments and Malfeasance Enforcement (MEME) bill that House Democrats are trying to introduce.

the SEC’s Division of Corporation Finance said meme coins are not securities under federal law.

The SEC emphasized, “The Division believes that transactions involving the kinds of meme coins mentioned in this statement do not entail the offering and sale of securities under the federal securities laws.”.

The agency explained that the Securities Act of 1933 does not apply to meme coins because of their nature.

‘Meme coins are classified as “collectibles” purchased for amusement and social interaction because they do not fit under any common financial instruments listed in securities laws.”

It added that speculation and market demand are the main drivers of this class of cryptocurrencies.

Consequently, the agency clarified that federal securities laws do not impose any obligations on meme coin participants or holders.

The financial watchdog further stated that individuals who engage in the offering and sale of meme coins do not have to register their transactions with the Commission under the Securities Act of 1933 (“Securities Act“) or are exempt from registration requirements under the Securities Act.”.

The SEC concluded that “other federal or state agencies may take enforcement action or prosecute individuals for engaging in fraudulent conduct related to the offer and sale of meme coins under other federal and state laws.”.

House Democrats intend to introduce a new bill that would forbid politicians and their families from issuing meme coins, which coincides with the SEC’s statement.