The team covered the crypto market in the last week, citing an incredible 40% increase in Solana, Blackrock preparing for a Spot Eth ETF and news of 2 new Layer 2 networks.
Key Takeaways
- The crypto market has continued rallying, with SOL (+40%) a notable outperformer.
- It appears that this price growth is being driven by existing investors and increased leverage. While various popular retail metrics are starting to increase, the rate of change is nothing too notable.
- BlackRock is seemingly preparing to apply for a spot Ethereum ETF in the U.S. If the SEC approves a spot bitcoin ETF, expect speculation over an Ethereum version to grow considerably.
- Kraken and OKX are rumoured to be building their own layer-two networks. If true, the move would come months after Coinbase launched its own L2 chain (i.e. Base).
- The team loved every second of Aus Crypto Con over the weekend! It was a pleasure to catch up with so many Collective.