In case you missed some of the most exciting news that happened in the past week, you can now catch up on them.
Velodrome Goes to DC
On Monday, the trading volume of Velodrome (VELO) surged 512.34% to $8,808,170 following an earlier revelation that Mike Collins, a Republican and Representative for Georgia’s 10th Congressional District, has an investment in the protocol.
According to Quiver Quantitative, the Congressman made a total of seven trades worth $81,000 in value. Noteworthy, Rep. Collins is the first politician to engage with the altcoin.
Blue-chip NFTs Experiencing Devaluation
Bored Ape Yacht Club (BAYC), CryptoPunks, Azuki, Doodles, Pudgy Penguin, Cool Cats, and some other blue-chip Non-fungible tokens (NFTs) are experiencing devaluation.
Surprisingly, these used to be some of the most profitable digital collectibles. BAYC and Pudgy Penguins have dropped below the 10 ETH floor price mark.
Of the ten top blue-chip NFTs, only Milady saw an increase in ETH trading price with a 3.53% rise for a floor price of 4.99 ETH on Tuesday. At the time of this market recap, Milady’s floor price was pegged at 5.35 ETH.
SEC Suspends Investigation on Ethereum 2.0
The United States Securities and Exchange Commission (SEC) has permanently suspended its probe into Ethereum. This was confirmed in a letter sent to ConsenSys after the ETF approval.
Consequently, the regulator will not file any lawsuit claiming the sales of ETH at any time constitute a securities offering. The decision of the SEC on Ethereum 2.0 pushed the altcoin out of the bear zone.
Shortly after the news, the coin went up 2.77% to trade at $3,543.14. At the time of writing, ETH was trading at $3,477.95 with a 0.44% price slump.
MicroStrategy Completes an $800 Million Debt Offering
Michael Saylor’s MicroStrategy secured $800 million from a convertible senior notes offering. The notes carry a 2.25% interest rate and will mature in 2032. Notably, the net proceeds from the offering were approximately $786 million, and the firm used it to pursue over 11,000 BTC coins. MicroStrategy currently has over 226,300 BTC.
First Solana ETF Filed in Canada
Also, the first Solana ETF application was filed in Canada this past week. As a result, investment fund manager, 3iQ Corp now ranks as the first to file an application to list a spot Solana ETF in the region or any other country. The potential launch of Solana Fund QSOL will give users direct exposure to Solana (SOL), without the technical complexities of digital asset management.
In this new week, there are expectations regarding the commencement of spot Ethereum ETF trading as well as other developments. Stay tuned with Crypto-Vanguard as we’d bring you all the action.
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