Following the U.S. Presidential debate, Bitcoin saw a modest 0.5% gain, reaching $62,300 before settling at $61,300. This uptick aligns with the broader optimism fueled by new ETF filings, such as VanEck’s for a Solana ETF, which boosted Solana’s price by 8%. Ethereum also benefited, trading above $3,400. The latest Bitcoin spot ETFs reported net inflows totaling $11.7997 million. Bitfinex analysts suggest that a Trump re-election could lead to favorable regulatory changes, accelerating crypto adoption and market growth, contrasting the current administration’s cautious approach. What are other drivers in cryptocurrency today?
Spot Solana ETF and Trump’s Influence
A recent report from crypto market-maker GSR suggests significant potential gains for Solana (SOL) if the U.S. approves a spot Solana ETF and if Donald Trump is re-elected. GSR highlights SOL’s distinct utility in powering decentralized applications, differentiating it from Bitcoin’s value proposition. The report outlines possible price increases ranging from 1.4x to an impressive 8.9x, emphasizing Trump’s crypto-friendly stance, which has led to a bipartisanship shift in regulatory sentiment. Supporting this thesis, asset manager VanEck has recently filed for Solana’s first spot ETF, causing SOL’s price to surge by 10%.
Bitcoin Miners’ Selling Pressure Eases
CryptoQuant’s latest analysis reveals a notable decrease in Bitcoin selling pressure from miners. This alleviation hints at a potential bullish trend for Bitcoin and the broader crypto market. The halving event had previously slashed mining rewards by half, compelling miners to sell Bitcoin to manage operational costs. The recent stabilization suggests that the market has adapted, allowing miners to hold onto their assets. This shift is further supported by the oversubscription of UAE-based Bitcoin mining company Phoenix’s $370 million IPO. If this reduction in selling pressure continues, Bitcoin’s price may rise, potentially igniting a rally across the crypto sphere.
Despite these positive developments, the crypto market currently lacks the momentum needed for sustained growth. Investors are increasingly turning their attention to nascent projects with high growth potential, like CYBRO, which are gaining significant traction in today’s market atmosphere.
CYBRO Presale Nears $1 Million Milestone: A One-in-a-Million Investment Opportunity
CYBRO is capturing the attention of crypto whales with its exclusive token presale quickly surging towards $1 million. This cutting-edge platform offers investors unparalleled opportunities to maximize their earnings in any market condition.
Experts predict a potential ROI of 1200%, with CYBRO tokens available at a presale price of just $0.025 each. This rare, technologically advanced project has already attracted prominent crypto whales and influencers, indicating strong confidence and interest. In an exciting development, CYBRO has also launched a referral program active until July 15, offering 12% from direct referees’ token purchases, 3% from second-level referees, and 2% from third-level referees. Rewards are sent weekly in USDT, and referees earn double CYBRO Points on their first deposit using the referral code.
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Holders of CYBRO tokens will enjoy lucrative staking rewards, exclusive airdrops, cashback on purchases, reduced trading and lending fees, and a robust insurance program within the platform.
With only 21% of the total tokens available for this presale and approximately 25 million already sold, this is a golden opportunity for savvy investors to secure a stake in a project that’s truly one in a million.
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