Solana Surges Past Ethereum in Stablecoin Volume!

Solana's stablecoin transfer volume soared to $364.7 billion in a week, overtaking Ethereum's $152.99 billion.

Solama continues its meteoric rise. Have you missed the first rally? No worries, it's getting ready for its 2nd one with almost 30k holders on board this time! Solama has been gaining mainstream popularity lightning fast!

Here's what we've got for you today:

  • Solana Overtakes Ethereum in Stablecoin Volume Race

  • Ripple and SEC Clash Intensifies with $2 Billion Fine on the Line

  • London Stock Exchange to list Bitcoin and Ethereum ETNs Starting in May

  • Grayscale Tips Ether ETF Approvals Despite SEC ‘Lack of Engagement’

Solana has outpaced Ethereum in terms of weekly stablecoin transfer volume.

  • Solana's stablecoin transfer volume soared to $364.7 billion in a week, overtaking Ethereum's $152.99 billion, contributing to March's near $804 billion in total stablecoin transfers.

  • This March's stablecoin transfer volume is a 3,410% surge from March 2023's $11.56 billion.

  • Solana's market share of stablecoin transactions now stands at around 42.3%, a drastic increase from 1.9% a year ago.

The SEC requested a federal judge to impose $2 billion in fines and penalties on Ripple.

  • Stuart Alderoty, Ripple Labs' Chief Legal Officer, criticizes the SEC's approach, accusing it of seeking to intimidate Ripple and the wider industry rather than fairly applying the law.

  • This comes after a Utah judge's sanctioning of the SEC for bad faith in handling evidence against Debt Box earlier in March.

  • Ripple CEO Brad Garlinghouse shared his own dissatisfaction on X, stating that the SEC's request for a $2-billion fine as unprecedented.

The London Stock Exchange is set to begin trading Bitcoin and Ethereum exchange-traded notes in May.

  • The London Stock Exchange (LSE) will open for cryptocurrency exchange-traded notes (ETNs) listing applications starting Apr. 8.

  • Trading of crypto ETNs on the LSE is scheduled to start on May 28, subject to approval by the Financial Conduct Authority (FCA).

  • ETNs, similar to Bitcoin ETFs, provide a regulated and accessible avenue for investors to get involved with the crypto market through a stock exchange.

Grayscale is optimistic about the approval of spot ETH ETFs in May, despite recent discussions about the SEC's "lack of engagement" with applicants.

  • Craig Salm, Grayscale's Chief Legal Officer, shared on X that the perceived lack of engagement from regulators should not be seen as predictive of any specific outcome.

  • Salm pointed out that many issues facing spot Ether ETFs were resolved prior to the approval of spot Bitcoin ETFs.

  • He acknowledges that ETF issuers aiming to include staking in their spot Ether ETFs face an extra challenge to work through with the SEC.



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