Welcome to today’s episode of “We Will Crypto” for June 28, 2024! In this episode, we cover:
- Bitcoin’s potential rally and how Kaspa miner moves might impact the market.
- The Biden-Trump debate and its complete omission of cryptocurrency discussion.
- The recent M&A frenzy in the crypto sector driven by the AI boom.
- VanEck’s groundbreaking filing for a Solana ETF and its market implications.
Stay informed on the latest crypto news and trends. Don’t forget to like, subscribe, and hit the notification bell for more updates!
#CryptoNews #Bitcoin #Kaspa #SolanaETF #BidenTrumpDebate #AI #CryptoMergers #WeWillCrypto
Podcast Episode Transcript: Top Crypto News for June 28, 2024
Hello and welcome to today’s episode of “We Will Crypto,” where we bring you the latest updates and insights from the world of cryptocurrency. Today’s June 28th, 2024. I’m your host, Ananomyx, and today we have some exciting and important news to cover. We’ll be discussing Bitcoin’s potential rally, the Biden-Trump debate ignoring crypto, the M&A frenzy in the crypto sector driven by the AI boom, and VanEck’s recent filing for a Solana ETF. Let’s dive right in!
Article 1: Bitcoin Holders Should Brace for a Rally Our first story today centers on Bitcoin’s current market situation. Bitcoin is at a critical juncture, hovering around the $61,000 support level. Despite the recent drops, long-term holders have shown minimal activity in buying BTC, reflecting a cautious sentiment. Interestingly, Bitcoin miners moving to Kaspa (KAS) has introduced more fear into the market. However, an analyst suggested that miners selling assets for hardware upgrades or cash needs might not impact the market as heavily as anticipated. The overall pessimism from long-term holders and lack of demand raises questions: Are BTC holders ready for a rally, or will the selling pressure persist? The recent minor relief from negative ETF flows hints at a potential shift, but it remains to be seen if this is a temporary respite or the start of a more significant trend.
Article 2: Biden-Trump Debate Ignores Crypto In political news, the recent debate between President Joe Biden and former President Donald Trump, held on June 27, completely omitted any discussion of cryptocurrency. Despite significant lobbying efforts and substantial funds raised by crypto-backed super PACs, neither candidate addressed the topic. The debate focused on economic plans, abortion rights, immigration, and foreign policy. Notably, Trump has previously expressed support for the crypto industry, while Biden’s stance is seen as more cautious. This lack of attention to crypto during the debate highlights that, despite its growing influence, cryptocurrency is still not a top priority in the mainstream political discourse.
Article 3: Crypto M&A Frenzy as Bitcoin Miners Chase AI Boom Our third story today covers the recent wave of mergers and acquisitions (M&A) in the crypto sector, driven by the booming artificial intelligence (AI) industry. Bitcoin mining companies are leveraging their expansive data centers, which are well-suited for AI workloads due to their access to power and fiber lines. For instance, Core Scientific has expanded its deal with CoreWeave, providing 70 megawatts of computing infrastructure, potentially generating $1.2 billion in revenue over 12 years. Meanwhile, Hut 8 has raised $150 million to expand its AI data centers, and Bit Digital is investing heavily in Nvidia GPUs to fulfill new AI-related contracts. This M&A activity reflects a strategic pivot as miners seek to diversify and capitalize on the AI industry’s growth.
Article 4: VanEck Files for Solana ETF, SOL Rises 8% Lastly, let’s discuss VanEck’s recent filing for a Solana (SOL) exchange-traded fund (ETF) in the U.S., the first of its kind. This filing comes just six days after a similar product was filed in Canada. As a result, SOL’s price has surged by nearly 8%. VanEck’s head of digital assets research, Matthew Sigel, emphasized that Solana’s unique combination of scalability, speed, and low costs makes it a strong competitor to Ethereum. The SEC’s approval of the first spot Bitcoin ETF earlier this year and the potential for an Ether ETF suggests that Solana could be the next major cryptocurrency to be packaged into an ETF, although serious discussions might not occur until 2025.
Host: And that’s a wrap for today’s episode of “We Will Crypto.” We’ve covered some significant developments in the crypto world, from Bitcoin’s potential rally and the Biden-Trump debate ignoring crypto, to the M&A frenzy in the mining sector and VanEck’s filing for a Solana ETF. Stay tuned for more updates, and don’t forget to subscribe to our podcast for your daily dose of crypto news. Thanks for listening, and see you next time!
