As August is about to begin, we review the most important news of the week and, above all, anticipate one that may directly impact Bitcoin.
– Trump to Speak About Bitcoin in Nashville
– Ethereum ETFs Approved
– What Will Be the Next ETF to Arrive?
Trump to Attend the Bitcoin Conference 2024
Politics in the United States is a bit tumultuous with the pre-election period. And Bitcoin has emerged in the campaign, which this year will also be a protagonist in the elections.
Candidate Trump has included in his program making the US a crypto-friendly place, but he may also shake up the cryptocurrency market this weekend.
The former president will take the Nakamoto stage in Nashville at the Bitcoin Conference, in front of 20,000 attendees, to talk about his plans and vision regarding Bitcoin. This will be at 2 PM local time, 9 PM in Spain.
The organizer has fueled the FOMO: “No one knows what Trump is going to say, except Trump himself. We believe it will be a historic message,” he said.
In addition, Robert F. Kennedy Jr., a firm supporter of Bitcoin even before Trump, and Senator Cynthia Lummis, who might announce a bill to integrate Bitcoin into the United States’ strategic reserves, will also speak.
Will the market react to Trump’s speech?
Ethereum ETFs Approved
As scheduled, Ethereum ETFs began trading on the US stock market on July 23, generating an immediate impact.
On their first trading day, Ethereum ETFs, led by investment giants like BlackRock, achieved a trading volume of around $300 million in the first hour (almost $620 million by midday).
The operational Ethereum ETFs are another pillar in the entire crypto building being constructed before the possible bull-run. To be prepared, the best thing is to create a long-term strategy and receive rewards for it.
A good way to do this is by putting your ETH in Bit2Me Earn, where you can receive up to 7% APY without doing anything else. Additionally, you can add more or withdraw what you have whenever you want and at no cost.
Will Solana ETFs Be Next?
The SEC approvals in 2024 pave the way for other cryptocurrency-based financial products.
The focus is now on Solana (SOL), another cryptocurrency with a rapidly growing ecosystem. Both VanEck and 21Shares submitted applications to the SEC to launch Solana ETFs last June.
SEC Commissioner Hester Peirce has acknowledged that the agency is reviewing the applications for Solana ETFs and indicated that the SEC will analyze each case individually.
Coin of the Week: ORCA
ORCA, a token on the Solana network, has risen more than 65% in the past week and, after hitting lows of $1.50, the Solana DEX project managed to reach $2.80, making it one of the biggest gainers of last week. The success of ORCA follows a resurgence of Solana-based tokens, including MEW and WIF.
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