Month: June 2024
VanEck SOL ETF Filing – Expert Predicts Solana Price’s Next Move
The crypto market saw major developments today that could signal a significant shift for the industry. VanEck has filed for… Continue reading VanEck SOL ETF Filing – Expert Predicts Solana Price’s Next Move
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The crypto market saw major developments today that could signal a significant shift for the industry. VanEck has filed for the first Solana Exchange Traded Fund (ETF) in the United States.
This news comes alongside another major headline: Coinbase is suing the SEC and FDIC.
While these two events are creating a synergistic impact on the crypto space, potentially heralding a robust altcoin season, the upcoming Sealana token presale is also generating significant buzz. With strong investor demand, the presale is set to close in just 3 days.
VanEck files for the first Solana ETF in the US
VanEck’s filing for a Solana exchange-traded fund (ETF) is a pivotal development for the cryptocurrency market.
This move signifies a potential shift in how Solana and similar altcoins are perceived by regulators and institutional investors.
By seeking ETF approval, VanEck is positioning Solana as a commodity, much like Bitcoin and Ethereum, which have already paved the way with their own ETF approvals.
This could lead to increased institutional interest and investment in Solana, as ETFs are widely regarded as accessible and regulated investment vehicles.
However, challenges remain, such as the absence of Solana futures, which traditionally accompany ETF filings to provide liquidity and price discovery.
🚨 BREAKING: @vaneck_us files for @solana ETF. pic.twitter.com/2PcMSkkFir
— Cointelegraph (@Cointelegraph) June 27, 2024
Despite this, the evolving regulatory landscape, coupled with growing pro-crypto sentiments among potential political leaders like Donald Trump, could influence the approval process positively.
As the crypto market awaits regulatory decisions, the filing reflects broader trends towards legitimizing and integrating digital assets into traditional financial markets.
This moment underscores a potential milestone in the journey towards mainstream acceptance and adoption of cryptocurrencies beyond Bitcoin and Ethereum, positioning Solana as a key player in the evolving financial ecosystem.
While VanEck pursues this milestone, Coinbase has also taken significant legal action by filing a lawsuit against the SEC and FDIC. This lawsuit alleges regulatory overreach and seeks access to internal documents that could reveal coordinated efforts to restrict services to crypto firms.
Coinbase’s legal challenge underscores the ongoing tension between the crypto industry and regulators. A successful outcome could enhance transparency and potentially improve regulatory conditions for the entire crypto sector, setting a precedent for other firms to challenge regulatory actions.
These simultaneous developments reflect broader efforts to integrate digital assets into traditional financial markets, shaping a transformative phase in cryptocurrency adoption beyond established players like Bitcoin and Ethereum.
Potential implications for the crypto market
These events come amidst growing anticipation for an altcoin season, a period where altcoins experience significant price surges.
The approval of a Solana ETF, coupled with the broader trend of ETF approvals for major cryptocurrencies, could trigger a domino effect, leading to increased investment in altcoins.
Analysts are also closely watching the Bitcoin dominance chart, which indicates Bitcoin’s market share compared to all other cryptocurrencies. A potential decline in Bitcoin dominance could signal the beginning of an altcoin season.
The total crypto market cap chart also shows positive signs, with a recent green candle suggesting a potential reversal. This, combined with the ongoing consolidation phase following the Bitcoin halving, aligns with historical patterns observed before altcoin seasons.
Solana (SOL) price analysis
Solana’s price has been on a downward trend for the past month, currently sitting at $142. However, the decline appears less severe when looking at the bigger picture.
Interestingly, despite the price drop, the number of active addresses on the Solana network continues to grow, suggesting sustained user engagement. Additionally, the value transferred on-chain remains high, likely driven by the popularity of meme coins on Solana.
This indicates that even with the price decrease, the network’s activity and value transfer show robustness. Examining the trading patterns, Solana has been consolidating between $115 and $127, which are strong support levels, and $200 to $210, which mark the recent highs.
The price action recently broke a wedge formation, testing lower liquidity levels. Currently, it is crucial to observe whether the price gets rejected or breaks through the resistance formed by the symmetrical triangle.
This breakout or breakdown will significantly impact short-term trading decisions.
Solana (SOL) price prediction
Looking ahead, several factors contribute to a bullish outlook for Solana. The potential approval of a Solana ETF, following the anticipated Ethereum ETF, could act as a significant catalyst.
This pullback in price may present a substantial opportunity for investors. Solana reached a market cap of around $75 billion in the last bull run and this year, it is approximately $90 billion.
Drawing comparisons to Ethereum’s trajectory in the 2017 bull run, Solana could see substantial growth, potentially reaching a $500 billion market cap, translating to a 6X increase from its current level.
As the market evolves, it is likely that many altcoins will be left behind, with only a few, including Solana, demonstrating strong performance.
Therefore, dollar cost averaging into Solana during this pullback appears to be a strategic move, positioning investors to capitalize on the next bull run.
Despite short-term volatility, Solana’s active ecosystem and growing user base make it a promising candidate for substantial long-term growth.
Sealana: Exploring investment opportunities in the Solana ecosystem
Sealana (SEAL), a new meme coin on the Solana blockchain, has captured significant investor interest, raising over $6 million in its presale.
Scheduled to go live on Raydium and Uniswap DEXs on July 2nd at 1 PM UTC, $SEAL is still available for purchase at a discounted price of $0.022 each.
Investors can use ETH, USDT, BNB, or cards to buy $SEAL, with tokens claimable through the same wallets after the presale concludes. Potential investors can learn more about acquiring Sealana tokens through our guide on how to buy Sealana tokens here.
The strong demand is evident in Sealana’s growing social media presence on X and an active Telegram community. Developers consistently engage followers with humorous memes, fueling excitement and anticipation for the launch.
The rise of $SEAL aligns with the broader success of “no-utility” meme coins on Solana, supported by the network’s fast speeds and low fees. Numerous crypto YouTubers have endorsed $SEAL, with some disclosing their investments in the token while others offer bold predictions of a post-listing rally.
Sealana’s patriotic branding and redneck persona create an anti-establishment appeal, potentially drawing in politically-oriented investors. As the upcoming presidential election stirs political discussions, $SEAL’s unique positioning could enhance its appeal even further. Visit sealana.io to take part in the $SEAL token presale.
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Microdosing candies finally recalled after psychoactive muscimol found
Muscimol, found in the candy, is from hallucinogenic Amanita muscaria mushrooms.
Enlarge (credit: Diamond Shruumz)
After weeks of reports of severe illnesses across the country, the maker of Diamond Shruumz microdosing chocolates, gummies, and candy cones has finally issued a recall. It covers all lots and all flavors of all the brand’s products.
The illnesses have been marked by several severe symptoms, which notably include seizures, loss of consciousness, and the need for intubation and intensive care. To date, there have been 39 people sickened, including 23 hospitalizations across 20 states, according to the Food and Drug Administration and the Centers for Disease Control and Prevention. The FDA first issued a warning on the brand’s chocolate bars on June 7, when there were reports of eight cases, including six hospitalizations, in four states.
Diamond Shruumz’s parent company, Prophet Premium Blends, said in the recall notice that it had received only two complaints about the products to date and, upon receiving those complaints, reviewed recent laboratory analyses (Certificates of Analysis) of its products. According to the company, those CoAs noted “higher than normal amounts of muscimol,” which is one of two key compounds found in hallucinogenic Amanita mushrooms. Muscimol “could be a potential cause of symptoms consistent with those observed in persons who became ill after eating Diamond Shruumz products,” the company said in the recall notice.
If You Defaulted on Your Student Loans, You Can Apply for This Debt Relief Program
The Fresh Start Program can get your loans out of default and help you qualify for student loan forgiveness options.
The Fresh Start Program can get your loans out of default and help you qualify for student loan forgiveness options.
Here comes a Meta Ray-Bans challenger with ChatGPT-4o and a camera
The Solos AirGo Vision glasses, with camera module. | Image: Solos
If you want a pair of glasses with hands-free video recording and an AI voice assistant, there aren’t a lot of options, and the Ray-Ban Meta Smart Glasses are the clear leader. But Solos, whose smart glasses currently only feature audio, says it’ll sell a camera-equipped version later this year — with OpenAI’s new GPT-4o AI model to let the camera recognize objects and answer questions about what you’re seeing.
The Solos AirGo Vision also include the same swappable frame system as Solos’ other glasses so you can swap out the camera — if you’re going somewhere a camera wouldn’t be socially acceptable, or if you’d just rather have a different look or some sun shades instead. Additional frames cost between $89 and $129.
The Vision will also have notification LEDs to warn you of incoming calls or emails, the company says, and the company claims they can also be integrated with Google Gemini and Anthropic’s Claude AI models. Like Meta’s Ray-Bans, they’ll answer questions over audio — they don’t have a display other than the LEDs.
The AirGo Vision don’t have a price or specific release date yet, but you can expect them to cost more than $249.99 — because that’s how much Solos will charge for a pair without the camera this July. The Ray-Bans currently still start at $299.
Disclosure: Vox Media, The Verge’s parent company, has a technology and content deal with OpenAI.
The Solos AirGo Vision glasses, with camera module. | Image: Solos
If you want a pair of glasses with hands-free video recording and an AI voice assistant, there aren’t a lot of options, and the Ray-Ban Meta Smart Glasses are the clear leader. But Solos, whose smart glasses currently only feature audio, says it’ll sell a camera-equipped version later this year — with OpenAI’s new GPT-4o AI model to let the camera recognize objects and answer questions about what you’re seeing.
The Solos AirGo Vision also include the same swappable frame system as Solos’ other glasses so you can swap out the camera — if you’re going somewhere a camera wouldn’t be socially acceptable, or if you’d just rather have a different look or some sun shades instead. Additional frames cost between $89 and $129.
The Vision will also have notification LEDs to warn you of incoming calls or emails, the company says, and the company claims they can also be integrated with Google Gemini and Anthropic’s Claude AI models. Like Meta’s Ray-Bans, they’ll answer questions over audio — they don’t have a display other than the LEDs.
The AirGo Vision don’t have a price or specific release date yet, but you can expect them to cost more than $249.99 — because that’s how much Solos will charge for a pair without the camera this July. The Ray-Bans currently still start at $299.
Disclosure: Vox Media, The Verge’s parent company, has a technology and content deal with OpenAI.
Forget Duolingo – Google Translate just got a massive AI upgrade that gives it over 100 new languages
Google Translate expands language list using AI model.
Google Translate is adding 110 new languages to its library, the largest expansion ever made to the platform. The update leverages Google’s PaLM 2 large language model, an artificial intelligence tool that helps accurately translate across a wider array of languages than before. Those languages are spoken by approximately 614 million people, or about 8% of the global population.
The list includes some widely spoken tongues, dialects, and languages that are native to smaller communities. Notably, African languages saw their biggest expansion, with Fon, Kikongo, Luo, Ga, Swati, Venda, and Wolof joining the list. On the other end of the spectrum, Cantonese is likely one of the most widely spoken languages on the new list, as is Punjabi (Shahmukhi), the most spoken language in Pakistan.
There’s also the Sicilian version of Italian, Manx, a Celtic language spoken on the Isle of Man that nearly went extinct, and a Papua New Guinea creole called Tok Pisin.
PaLM 2 Talk
For languages that blend regional dialects and different spelling standards, Google goes for something that might be best understood by most people, as with the Romani language offered by Google Translate, which includes three different dialects.
The PaLM 2 LLM made the update possible, enhancing Google Translate’s ability to learn and shift between languages efficiently. This model is particularly adept at handling languages that are closely related, like Awadhi and Marwadi, to Hindi or the various French creoles. PaLM 2’s advanced capabilities allow it to manage the nuances and variations within these languages, providing more accurate and culturally relevant translations.
The application of PaLM 2 to Google Translate is also interesting due to its origins as a tool for helping foster communications between humans and AI. For instance, both PaLM and PaLM 2 have been employed for helping teach robots how to carry out tasks and process commands from humans into steps to complete those tasks.
Potentially, the best part is that it’s available on the web or via the Google Translate app on Android and iOS.
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Japanese researchers set new world record internet speed
A team of Japanese researchers has set a new world record internet speed (data transmission). Using an optical fiber that… Continue reading Japanese researchers set new world record internet speed
The post Japanese researchers set new world record internet speed appeared first on ReadWrite.
A team of Japanese researchers has set a new world record internet speed (data transmission).
Using an optical fiber that is available commercially, the team established a data rate of 402 terabits per second – around 1.6 million times faster than the median average broadband speed in the US.
Under the direction of the Photonic Network Laboratory at Japan’s National Institute of Information and Communications Technology (NICT), the research team was able to set the achievement by constructing a system comprising all transmission bands of standard optical fibers, as well as deploying different amplification technologies.
NICT stated the new way to access previously unused wavelength bands could be put to use in future telco networks
“The newly developed technology is expected to make a significant contribution to expand the communication capacity of the optical communication infrastructure as future data services rapidly increase demand,” NICT outlined in a summary statement of the work.
Ambition to extend the transmission range
The average US broadband speed as of May 2024 was 248.27 Mbps, with an upload speed of 34.23 Mbps.
In Q4 2023, Cox recorded the fastest average speed in a test of the leading fixed broadband providers across the States.
The data rate set by the Japanese team, 402 Tb/s, is lightning fast, capable of downloading around 12,500 films in a single second, which is more than three times the number of films currently available on Netflix.
NICT researchers have the ambition to eventually extend the transmission range to vast, trans-oceanic distances, but there will need to be some caution on the immediate outcome of the achievement. Although standard fiber optic was used to set the new world record, the feat was achieved thanks to the backdrop of optimal lab conditions.
More research would be required, and a lot of resources, to replicate even a small portion of the breakthrough data transmission in the real world.
Image credit: Via Ideogram
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