Fri, June 28, 2024 at 00:37

• 

  Kang-hoon

  • Good morning, Annie.

  • Today, I have some interesting news about the cryptocurrency market.

  • As of 8:50 a.m. today, Bitcoin was trading at $86.75 million on Bithumb, down 0.08% from 24 hours earlier.

  • On Upbit, it was trading at $86.88 million, up 1.01%, and on CoinMarketCap, it was trading at $61,551, up 1.29%.

  • 
• Annie

  • Oh, that's quite a fluctuation!😊 How about Ethereum?

  
• 

  Kang-hoon

  • Ethereum was also showing some interesting movements.

  • On Bithumb, it was up 0.06% to $4.85 million, and on Upbit, it was up 1.97% to $4.85 million.

  • On CoinMarketCap, it was up 2.26% to $3442.

  • Ethereum remains the second-largest cryptocurrency by market capitalization, following Bitcoin.

• Annie

  • That's good to hear!

  • What about the Kimchi Premium?

  • Is it still significant?

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Kang-hoon

  • Yes, the Kimchi Premium, which is the price difference between domestic and foreign Bitcoin prices, remained in the 1% range.

  • As of 8:55 a.m. today, it was at 1.58% according to Crypris, a global cryptocurrency market comparison platform.

• Annie

  • Interesting!

  • And what about Solana?

  • I heard some news about it recently.

  
• 

  Kang-hoon

  • Indeed, Solana has been making headlines.

  • The U.S. Securities and Exchange Commission (SEC) received a registration statement from asset manager VanEck on November 27th to launch a Solana spot ETF.

  • This is the first Solana spot ETF registration application in the United States.

• Annie

  • Wow, a Solana spot ETF!

  • What does VanEck say about Solana?

  
• 

  Kang-hoon

  • VanEck considers Solana a 'commodity,' not a security like Bitcoin or Ethereum.

  • Matthew Siegel, Head of Digital Asset Research at VanEck, explained that Solana's scalability, low fees, high speed, robust security, and active community make it an attractive asset class.

• Annie

  • That sounds promising!

  • How did the market react to this news?

  
• 

  Kang-hoon

  • The market reacted positively.

  • 

  • As of 9 a.m.

  • ET on CoinMarketCap, Solana was up 10.63% from the previous day.

  • Solana-based meme coins also surged; Bonk was up 13.79%, Dogwhistle up 5.89%, and Book of Memes up 19.05%.

• Annie

  • That's quite a surge!

  • What about the overall market sentiment?

  
• 

  Kang-hoon

  • The Fear-Greed Index, compiled by Alternative, stood at 47 today, indicating a neutral sentiment.

  • This is an improvement from the previous day's reading of 40, which indicated fear.

  • The index ranges from 0 (extreme fear) to 100 (extreme optimism).

• Annie

  • Thanks for the detailed explanation, Kang-hoon.

  • So, do you think this news is positive for the market?

  
• 

  Kang-hoon

  • Yes, I believe this is positive news.

  • The approval of a Solana spot ETF would institutionalize Solana as an asset, potentially driving more investment into the cryptocurrency market.

  • This could lead to increased stability and growth in the market.

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.