Shiba Inu’s Burn Rate Surges, Solana ETFs on the Horizon, and Furrever Token’s Cutest Crypto Referral System
The post Shiba Inu’s Burn Rate Surges, Solana ETFs on the Horizon, and Furrever Token’s Cutest Crypto Referral System appeared first on Coinpedia Fintech News
Exciting news is shaking up the crypto market! Shiba Inu is burning tokens faster than ever, hinting at a possible price jump. At the same time, Solana is creating buzz with its upcoming ETF, ready to draw in new investors. In the midst of all this, Furrever Token stands out, blending cute themes with crypto and offering a generous 10% referral bonus. Explore these top crypto stories and see why they’re sparking so much interest!
Impact of Solana ETF Application on Solana and Altcoins
A Canadian company that manages digital assets and cryptocurrencies, 3iQ, has formally applied to the country’s regulator for a Solana ETF. The company announced this publicly, saying that if approved, the ETF would be available for trading on the Toronto Stock Exchange (TSE).
In their statement, 3iQ confirmed, “We have formally filed a preliminary prospectus for the Solana Fund (QSOL) in Canada.” The preliminary prospectus represents the initial document a company submits to regulators to offer some securities to the public.
The announcement also highlighted that approval of the Solana ETF would mark a first for the North American region. Additionally, clients holding the Solana ETF could benefit from estimated staking rewards ranging from 6% to 8%. This inclusion of staking rewards is noteworthy, given the SEC’s rejection of similar features in Ether spot ETFs in the U.S., where issuers were required to remove staking aspects from their ETF applications.
Regarding staking services for the Solana Fund, 3iQ disclosed plans to utilize services from the Coinbase exchange. They have also secured agreements with Coinbase Custody and Tetra Trust for custody services.
3iQ is well-known for providing Bitcoin and Ether investment funds in Canada, which were approved during a strong market in February 2021. If the Solana investment fund is also approved, it could increase Solana’s importance in the market and encourage other cryptocurrencies to apply for similar approvals. This could change how investors and markets perceive these digital assets.
Shiba Inu’s Increased Burn Rate Amid Market Challenges
Shiba Inu (SHIB) has seen its daily burn rate increase sharply by 2.682%. However, its price only went up by a small 0.49% on the last day, reaching $0.000018. This follows a 12% drop over the past week, mainly due to negative feelings in the cryptocurrency market, worsened by Bitcoin’s recent fall.
The Shibburn team reported burning 18,617,208 SHIB tokens in the past day, marking a substantial increase in token burn activity. However, market conditions, driven by major cryptocurrencies like Bitcoin and Ethereum, continue to challenge altcoin projects such as SHIB in attracting sustained investor interest.
Looking ahead, SHIB’s trading range between $0.000017 and $0.000019, with an average holding of 417.19 trillion tokens across 25,310 addresses, underscores the current market sentiment. Speculators are closely monitoring price movements for indications of potential bullish momentum, particularly if SHIB breaks above key daily moving averages.
Despite market volatility, SHIB’s resilience and burn rate dynamics remain focal points for investors navigating the unpredictable landscape of meme coins and broader cryptocurrency markets.
Furrever Token: The Cutest Crypto Revolution
Amid these significant developments, Furrever Token is making its mark with a charming and innovative approach to crypto. With a mission to create a whimsical and heart-warming ecosystem centred around adorable cat imagery, Furrever Token has raised over $1.4 million in its presale and is now in Stage 9, aiming to raise $1.9 million.
The token, priced at $0.000732, promises up to 15X returns, making it an enticing investment opportunity. What sets Furrever Token apart is its unique 10% referral bonus for every deposit made through a personal referral link. This initiative not only boosts user engagement but also fosters a sense of community, encouraging users to share the joy and benefits of Furrever Token with friends and family.
Additionally, Furrever Token is committed to security and compliance, having its smart contract audited by Securi Lab. The team, while not doxxed, has locked their tokens for a year to reassure the community of the project’s longevity. With no buy and sell tax, and active community engagement on platforms like Telegram, Furrever Token is poised to be more than just a cryptocurrency; it’s a community-driven movement. Join the Furrever Token community today and experience the cutest crypto revolution!
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