In the past two decades, index and exchange-traded funds (ETF) have become some of the most popular forms of investing because they offer investors a passive way to gain exposure to a basket of stocks as opposed to investing in individual stocks which increases risk of loss. Since 2018, this trend has extended to the crypto sector and products like the Bitwise 10 Large Cap Crypto Index (BITX) tracks the total return of Bitcoin (BTC), Ether (ETH), Cardano (ADA), Bitcoin Cash (BCH), Litecoin (LTC), Solana (SOL), Chainlink (LINK), Polygon (MATIC), Stellar (XLM) and Uniswap (UNI). The ability to access multiple …

Blockchain developer Neon Labs has created a compatibility bridge between Ethereum and Solana, opening the door to more cross-chain development opportunities for Ethereum programmers. Neon’s Ethereum Virtual Machine, or EVM, has deployed via testnet on Solana, the company announced Tuesday. The EVN grants any decentralized application on Ethereum access to Solana’s high throughput capacity and lower gas fees. Essentially, Neon EVM allows anyone to run Ethereum contracts directly on the Solana blockchain. Even during the testnet phase, Neon’s EVM will support decentralized applications such as Uniswap, SushiSwap, MakerDAO and 0x. The mainnet is expected to launch later this quarter. “Ethereum …

Cryptocurrency wallet provider Phantom has secured $9 million in Series A financing to launch a new multichain wallet designed to help DeFi users access decentralized applications across multiple blockchains. The raise comes on the heels of a successful beta launch in April of this year that saw 40,000 new Phantom users. The company also secured $500,000 in grants from Serum and Solana during the beta phase. Brandon Millman, Phantom’s co-founder and CEO, said his platform enables users to easily access decentralized exchanges and nonfungible token platforms, explaining: “With the world moving into a multi-chain future, the strong interest from the …

Earlier this week, Fan Yifei, the deputy governor of the People’s Bank of China has warned that stablecoins like Tether (USDT) pose “risks and challenges to the international monetary system, and payments and settlement system”. Fan did not even spare Bitcoin (BTC) and called it a tool for speculation and a possible threat to “financial security and social stability.” Other than the FUD from China, several traders have been focusing on the unlocking of a large amount of Bitcoin at the Grayscale Bitcoin Trust as a possible bearish sign. However, market analysis by crypto trading firm QCP Capital said the …

Bitcoin’s (BTC) range-bound action seems to be increasing the confidence of institutional investors looking to resume investing in cryptocurrencies. Proof of this comes as Marshall Wace, a London-based hedge fund, announced plans to invest in the digital asset space, according to sources at the Financial Times. A survey of wealth managers and institutional investors already holding crypto, from the U.S., U.K., France, Germany, and the UAE shows that 82% of the respondents expect to increase their investments in digital assets by 2023. The research shared with Cointelegraph claims that only 7% of the participants plan to reduce their exposure to …

Solrise Finance, a decentralized finance (DeFi) protocol for the Solana network, has successfully concluded a $3.4-million raise for its non-custodial asset management platform, offering further evidence that the venture capital world continues to seek broad exposure to the digital asset market. Some of the biggest venture capital names in blockchain supported the Solrise funding round, including Alameda Ventures, Delphi Digital and CMS Ventures. Jump Capital, ParaFi Capital, DeFi Alliance, Reciprocal Ventures and SkyVision Capital rounded out the participants. The capital raise will go toward making DeFi more accessible to a wider class of investors, Solrise announced Tuesday. This includes reducing …

The U.S. core personal consumption expenditure (PCE) price index increased 0.5% in May, below market estimates of 0.6%. However, when compared year-over-year, the PCE index surged to 3.4% recording its largest gain since 1991. While the U.S. Federal Reserve expects inflation to be transitory, analysts at BofA differ in their estimation. The bank anticipates U.S. inflation to remain high, in the 2% to 4% range, for the next two to four years and believes the Fed will hike rates in the next six months, barring a financial market crash. If inflation remains elevated, investors are again likely to focus on …

There are always two components to each altcoin’s price. One is the coin’s own characteristics: Fundamentals, investor sentiment toward the asset, liquidity and trading volume, among many others. Another powerful factor — the one that often renders any altcoin-specific dynamics irrelevant — is Bitcoin’s performance. Like it or not, when the king of cryptocurrencies soars, there is room for the shabbiest shitcoins to punch way above their weight. When BTC tumbles, even the sturdiest alts can take a proportional hit. It's a question of knowing which is which. Many traders within the crypto markets are relatively unfazed by decreases in …

Switzerland-based token issuer Digital Assets AG, or DAAG, has officially launched its stock-tokenization infrastructure on the Solana blockchain, offering users of the FTX trading platform a novel way for accessing traditional equity markets. During the initial rollout, FTX users who have completed Know Your Customer documentation will have access to 55 free-floating stocks, available 24 hours a day, 365 days a year, Digital Assets AG announced Thursday. That means users in permitted jurisdictions will be able to buy, sell and withdraw the assets at any time. Free-floating stocks are assets that have received regulatory approval to trade on tokenized platforms. …

An overnight bounce across the cryptocurrency assets this Wednesday saw Solana (SOL) outpacing its top rivals, including Bitcoin (BTC) and Ether (ETH). The SOL/USD exchange rate surged 55.10% to $31.58 on Wednesday after bottoming out at $20.14 in the previous session. Its move uphill came in the wake of an overall crypto market retracement that, in turn, followed a brutal crash in response to a full-fledged crypto ban in China. Solana was among the loss-bearers at the beginning of this week. SOL/USD plunged by more than 42% after opening Monday at $35.22. Similarly, Bitcoin lost 19.07% in the same period, …

As FTX and Alameda Research increasingly enter the public eye, one side effect is that the decabillionaire is himself a growing public figure. Especially after a significant donation to Joe Biden’s campaign for the US presidency, some observers hoped that SBF would come to serve as a kind of professional lobbyist on behalf of the crypto ecosystem. While he says he’s open to discussing his views, he’s not trying to work the edges or sell anyone a used car: So I'm super happy to serve as a resource for anyone in government or else who wants and I think happy …

When exchange listing news hits the crypto market, there’s often a spike in trading volume and a rapid (if often short-lived) appreciation in the price of the crypto asset. The degree of movement depends on the exchange making the announcement, the liquidity of the token and many other factors — but as has been identified on multiple occasions, a Coinbase or Binance listing often moves markets. Of course, the market participants who react fastest to this kind of news usually secure the best opportunity for delta. So where does the savvy crypto investor spend their time in order to beat …