Matthew Sigel, head of digital asset research at VanEck, revealed that the Solana ETN, which trades under the ticker VSOL and currently has $73m in assets under management, will have rewards accrued and reinvested daily under the new staking rules, with the ultimate aim of attracting more investors and new capital. 

On the other hand, VanEck’s press release outlined how the staking process works for the Solana ETN. Importantly, the staking methods are designed to be non-custodial, meaning that the custodian of the ETN’s assets retains full control of the staked SOL, thereby eliminating lending risks typically associated with crypto investments.

In addition, investors in the Solana ETN will not need to take any action to receive staking rewards. These rewards will be accounted for in the coin entitlement of the ETN, ensuring equitable distribution regardless of when the investment was made, minus a 25% staking fee.

The staking rewards will be reflected in the daily end-of-day net asset value (NAV), with a cutoff point at 4 PM CET, allowing investors to benefit from staking without the “complexities�usually involved in managing crypto assets directly.

Once the SOL is delegated, the validator node earns various rewards, including inflationary and block rewards, accrued continuously. These rewards will be reinvested into the ETN daily, contributing to its overall performance. 

SOL Price Prediction

Market expert Carl Runefelt recently highlighted Solana’s potential for further gains in a Monday social media post, stating that the token could “go parabolic starting today.” 

Runefelt pointed out a significant technical pattern on the SOL/USDT daily chart, identifying a breakout from a “Cup and Handle” formation. This bullish pattern often signifies a strong upward momentum, with Runefelt projecting a potential price target of $370.

Achieving this target would mean Solana surpassing its all-time high of $259, set in November 2021. This bullish outlook aligns with other analysts’ broader bullish predictions for the cryptocurrency market, particularly Bitcoin, which is also expected to hit new highs in the coming months.

Could $70,000 Be Within Reach?

Notably, Rekt pointed out that Bitcoin has broken through a downtrending channel after surpassing the $65,000 level earlier this month, effectively invalidating a series of lower highs that had been established since mid-March.

This breakout signifies the end of the previous downtrend. Rekt noted that Bitcoin had repeatedly failed to break above the channel’s resistance, but the most recent weekly close has shifted market sentiment. 

Rekt further explains that the current retest of lower support floors could see Bitcoin’s price dip to around $66,300, which is the channel top. This level has previously served as a significant barrier, preventing the price from reaching higher levels. 

Key Resistance Challenge Ahead For Bitcoin

If Bitcoin successfully retests this support level, the analyst expects that the next target would be the range high at approximately $71,500. This level marks a crucial challenge for Bitcoin, as it would signify the first attempt to breach the top of the re-accumulation range since June. 

However, the question remains: how deep will any potential retracement be if Bitcoin faces rejection at the range high? Historically, since mid-March 2024, Bitcoin has encountered deeper rejections, with declines of 21% to 25% on August 5 and September 6 respectively. 

Rekt concludes that BTC is moving deeper into a prior resistance area at $66,000, which may soon transform into support. A successful retest of this level could precede a significant reversal back to the $70,000 mark, reinforcing the bullish outlook for Bitcoin as it navigates through these critical price levels.

Increased Global Liquidity And Low Supply

Deutscher notes that Bitcoin has been consolidating above critical support levels for much of the year, positioning it for potential expansion. Despite numerous failed breakouts in the past, which have led to a general distrust among traders, the analyst believes that this environment may create an opportunity for a significant price increase. 

Deutscher also emphasizes that as equity markets begin to recover, Bitcoin tends to follow suit, often correlating closely with the S&P 500. Additionally, Bitcoin’s supply on exchanges has reached an all-time low, suggesting that a supply squeeze may be imminent. 

October To April As ‘Boom Period’ For Bitcoin 

Deutscher also emphasized in his analysis the upcoming US presidential election, which he believes adds another layer of complexity to the market. The analyst speculates that a victory for former President Donald Trump could lead to favorable market reactions, with Bitcoin potentially positioned as “a pillar of US financial stability.�/p>

The Republican candidate has made a number of promises, the most notable being plans to make Bitcoin a reserve asset for the country, with the aim of using it to reduce the $35 trillion national debt, further supported by pro-crypto Senator Cynthia Lummis. 

Seasonality also plays a role, according to the analyst. Deutscher explains that the period from October to April 2025 is traditionally seen as a “boom period�for cryptocurrencies. 

The strategic move aims to provide investors with a diversified portfolio that includes major digital assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP and Avalanche (AVAX).

Diversified Exposure To Bitcoin, Ethereum, And More

The proposed ETF comes at a time when investor interest in regulated cryptocurrency products is on the rise. Grayscale’s Digital Large Cap Fund currently holds approximately $524 million in assets under management, with a significant focus on Bitcoin and Ethereum. 

According to reports on the matter, this diversified approach is designed to offer a balanced entry point for investors seeking broader exposure to the cryptocurrency market.

This filing follows a pivotal year for the market, which recently saw the approval of spot ETFs for Bitcoin and Ethereum in January and July respectively, allowing these funds to hold actual tokens rather than relying on futures contracts. 

Grayscale Aims For Fifth ETF Launch This Year

Balchunas noted that the ETF’s holdings, predominantly consisting of Bitcoin and Ethereum, could provide enough flexibility to accommodate smaller, less liquid assets, potentially paving the way for approval.

In response, the firm has introduced lower-fee versions of these funds, attracting over $700 million in inflows thus far. These approvals have contributed to a surge in Bitcoin and Ethereum prices, indicating a renewed investor confidence in the cryptocurrency market.

Other asset managers are also positioning themselves to launch ETFs that include smaller tokens such as Solana, XRP and Litecoin, with recent filings from Canary Capital and Bitwise Invest highlighting a broader trend to integrate a wider range of cryptocurrencies into regulated investment vehicles, despite increased scrutiny from regulators in the US.

One such expert, crypto analyst Gert van Lagen, recently shared his insights on Bitcoin’s price trajectory via social media platform X (formerly Twitter). He analyzed BTC’s parabolic curve and identified a distinctive step-like formation pattern, which he believes signals a colossal wave 5 rally in the coming months.

Potential ‘Shake-Out Of The Century�/h2>

In his analysis, van Lagen presented a Bitcoin chart demonstrating that the cryptocurrency has successfully navigated several hurdles since April 2023. He categorized the price movement into three distinct phases, marking the base of the uptrend pattern that has ignited the current bullish trend. 

Currently, van Lagen notes that Bitcoin’s price action is centered around base 4 of this pattern, indicating a consolidation phase between the $53,700 and $68,000 levels, with the former identified as bull market support for this cycle.

Van Lagen asserts that the validation of Wave 4 is imminent as Bitcoin approaches its record peak. He predicts that once Bitcoin breaks through base 4 and achieves a new all-time high, it could trigger a substantial rally in wave 5, potentially targeting prices around $250,000.

However, the analyst also warns of a significant downturn that may follow this surge. He suggests that once Bitcoin reaches the anticipated peak, a “recession” could ensue, with price targets plummeting to as low as $10,000, and in a more extreme scenario, down to $1,000. He describes this potential decline as the “shake-out of the century,” should these projections materialize.

In the medium term, the increased volatility that has characterized Bitcoin’s price over the past month has prompted the analyst to explain that if Bitcoin fails to break through the $70,000 resistance level – a barrier it has struggled with in four previous attempts – then the $57,500 level will serve as a crucial support level for the cryptocurrency.

Historical Patterns Suggest Bitcoin Price Increases Ahead

In another sign of confidence in the biggest cryptocurrency’s prospects for further gains, Blockforce Capital’s Brett Munster noted that conditions are ripe for a “perfect storm” favoring Bitcoin and other cryptocurrencies after six months of price consolidation.

Munster highlighted the role of global liquidity in this potential surge, pointing to increased capital injections from central banks worldwide. Notably, China has implemented stimulus measures to revitalize its economy. 

In addition, optimism in the crypto market is further bolstered by a commitment from US Vice President Kamala Harris to support a regulatory framework for cryptocurrencies in response to long-standing concerns from the crypto community regarding the regulatory environment.

According to data from blockchain analytics firm Santiment, the number of Dogecoin holders has significantly decreased, with a net drop of 106,600 non-empty wallets since October 8. 

The firm believes that this decline reflects growing frustration among traders regarding DOGE’s lackluster price performance, which has led them to explore other memecoins that might offer more immediate returns.

In the last 24 hours, the Dogecoin price experienced a 1% decline, reflecting broader trends within the memecoin sector. Data from CoinGecko indicates that while Dogecoin struggles, many other tokens in this space are also seeing losses, with the notable exception of TURBO token, which has shown impressive gains.

Despite recent challenges, Dogecoin still boasts a 9% increase over the past week, leading the top ten memecoins in this metric. However, TURBO outperformed all competitors in the sector with a significant 76% surge during the same period, establishing itself as the top performer in the crypto market.

84,200% Growth Ahead For DOGE?

In a recent social media post on X (formerly Twitter), crypto analyst Ali Martinez has noted a fresh buy signal on Dogecoin’s four-hour chart, suggesting that the token may see additional price gains in the coming days. 

In his analysis, Martinez also pointed out an uptrend pattern on DOGE’s weekly chart, indicating potential for further growth in the months ahead. He has even speculated that Dogecoin’s price could reach an astonishing $10, representing a staggering 84,200% increase from current price levels.

Despite the challenges posed by declining investor interest and the absence of catalysts to drive the price upward, there remains a bullish sentiment in the market. Dogecoin could thrive during the remainder of the bull cycle, especially as attention is expected to shift back to altcoins.

Trump Crypto Venture Faces Setbacks

As of Tuesday afternoon, blockchain data from Etherscan revealed that only about 4,300 unique wallet addresses held the WLF token, amounting to roughly 4% of the registered investors.

These setbacks come at a crucial time for Trump, who is the Republican presidential nominee and has heavily promoted the project since August under the branding “The DeFiant Ones,�a nod to decentralized finance (DeFi). 

Investors To Receive Voting Rights On WLF Platform

Folkman, who has a varied entrepreneurial background, including a previously owned company, Date Hotter Girls, has stated that 20% of WLF’s tokens are allocated to the founding team, which includes members of the Trump family. 

The WLF token, WLFI, is structured as a Regulation D offering, allowing it to raise capital without registering as a security with the SEC, provided it meets certain conditions, such as limiting the sale size and restricting participation to accredited investors. So far, details about the project’s functionalities remain sparse. 

Individuals associated with the Trump family project have suggested that the platform will facilitate borrowing, lending, and investing in cryptocurrencies. However, a formal white paper or comprehensive business plan has not been made public, and the primary disclosure has been that investors will receive voting rights on the forthcoming WLF platform.

Key Factors Behind BTC’s Price Surge

Geoff Kendrick, the head of digital asset research at Standard Chartered, recently estimated that the Bitcoin price could hit $73,800 ahead of the US presidential election on Tuesday November 5 , representing a 10% increase from current levels.

particularly in relation to one of the largest public BTC holders, MicroStrategy, which recently increased its holdings to 252,000 BTC, led by the vision of co-founder and renowned Bitcoin bull Michael Saylor. 

Two key factors underpin this bullish outlook. The first is the news, reported by Bitcoinist last month, that BNY Mellon has received an exemption from SAB 121, a regulation that requires financial institutions to list cryptocurrencies on their balance sheets. 

The second factor relates to MicroStrategy’s declared intention to evolve into a “Bitcoin bank,” which would involve offering Bitcoin capital market instruments. Kendrick believes that future exemptions could enable the firm to generate yield by lending out its Bitcoin holdings. 

Both Presidential Candidates Could Boost Bitcoin price

Regarding the upcoming presidential election, Kendrick views the outcome as secondary to these fundamental factors. He asserts that regardless of whether Donald Trump or Kamala Harris wins, the broader digital asset ecosystem is increasingly poised to become mainstream. 

While Kendrick has previously suggested that a Trump presidency would be the most beneficial scenario for BTC, with notable proposals for the industry including the establishment of a Bitcoin reserve for the country, he maintains that both candidates could positively impact the asset in the long term.

Can SUI Match Solana’s Success?

Market expert LightCrypto took to social media platform X (formerly Twitter) on Sunday to express his skepticism about the sustainability of SUI’s recent gains. In a lengthy post, he noted SUI’s substantial rise, which has quintupled from its previous lows of $0.5 on August 5, amid the broader market crash that occurred that day. 

While the market appears to be eager for new winners, with macroeconomic conditions pointing to further price gains, LightCrypto raised two critical points that could undermine SUI’s upward trajectory. 

Firstly, the expert questioned the rationale behind SUI’s current $23 billion fully diluted valuation (FDV), particularly when compared to Solana’s $73 billion according to Coingecko data. 

Potential Market Correction Looms

Secondly, LightCrypto alleged the worrying trend of insider selling, indicating that insiders, including what is believed to be a large endowment fund, have dumped around $400 million in tokens during the recent rally. 

Ultimately, LightCrypto believes that the acceleration of these sales may create a disconcerting atmosphere for retail investors, who may be buying tokens from those best informed about their true value.

The implication is stark: as these supposed insiders cash out while retail investors chase momentum, the potential for a market correction looms large, potentially threatening the token’s current rally. 

Despite these allegations, SUI, currently trading at $2.24, continues to see significant investor interest in the token, with trading volume up 36% in Sunday’s session, valued at approximately $1.7 billion. 

Furthermore, regardless of LightCrypto’s troubling findings, corrections are normal after a token hits a new record high, with the clear example of Bitcoin (BTC), which has been unable to come close to that level since hitting a new record high of $73,7000. 

According to the firm’s analysis, one significant factor influencing market sentiment is the surprisingly positive Consumer Price Index (CPI) data for September, which has altered expectations regarding future interest rate cuts by the US Federal Reserve (Fed). 

Currently, the market anticipates that the Fed will implement a total of only 45 basis points (bps) in rate cuts for the remainder of the year. Moreover, the options market suggests that there may be just one additional rate cut in 2024, likely a 25 bps reduction, followed by a pause in early 2025. 

However, the recent CPI surprise has also intensified market uncertainty, as reflected in the MOVE index, which tracks volatility in Treasury yields. 

Yet, a notable decline in equity risk premiums suggests a growing complacency among investors or a diminished reward for taking on equity risk. This reduced premium could expose the market to greater vulnerabilities in the event of unforeseen shocks.

Optimism Grows In Crypto Options Market

In the crypto space, recent price movements have been notable, with Bitcoin (BTC) and Ethereum (ETH) experiencing significant surges. Analysis from GEX points out that there are currently no clear resistance levels in the market, suggesting that price movements might continue without substantial barriers. 

However, the exchange noted that this lack of structural support also underscores the market’s “inherent fragility.â€?They contend that if investor sentiment were to shift, the current price levels could be difficult to maintain.

Overall, this trend reflects investors’ concerns about potential “extreme negative events,â€?underscoring that, despite the recent rally seen in the crypto market, uncertainties surrounding future Fed rate cuts and broader macroeconomic conditions continue to weigh heavily on sentiment.