Bitcoin is currently priced at $91,958 with -1.12% decrease from the last 24 hours, while Ethereum is at $3,324, down by -2.64% in the past 24 hours. The market's 24-hour long/short ratio in the futures market was almost balanced at 48.8% long versus 51.2% short positions. The Fear and Greed Index, which measures market sentiment, was at 82 yesterday and is at the Greed level at 75 today. Last week, Bitcoin ETFs recorded $3.13 billion in net inflows marking the highest weekly figure ever. At the same time Solana’s decentralized exchange (DEX) transaction volume surpassed $109.8 billion in November. Solana’s price is up 160% since January 2024 and a Solana ETF is on the horizon. These developments highlight the rising influence of blockchain technology in reshaping global financial systems.

1. Pump.fun accounted for over 62% of Solana ecosystem DEX trading volume in November.

2. Justin Sun joins Trump's family project WLFI as an advisor.

3. Ripple donates $25 million to Fairshake PAC ahead of US midterm elections

4. Dan Morehead, founder of Pantera Capital predicts Bitcoin could reach $740,000 by April 2028. 
   

 Crypto Fear & Greed Index | Source: Alternative.me 

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Read More: Bitcoin Price Prediction 2024-25: Plan B Forecasts BTC at $1 Million by 2025

Source: CoinShares

Bitcoin ETFs reached $3.13 billion in weekly net inflows according to CoinShares. This marked the seventh consecutive week of positive inflows. Year-to-date crypto funds have attracted $37 billion which is over 119 times more than the $309 million achieved by U.S. gold ETFs in their first year. Total assets under management for crypto products reached $153.3 billion representing the highest level in history.

Bitcoin-focused funds accounted for $3 billion of the total inflows. U.S.-based spot Bitcoin ETFs dominated with $3.38 billion in weekly inflows. BlackRock’s IBIT product contributed $2.05 billion reinforcing its role as a key driver of institutional crypto investment.

Short-bitcoin products saw $10 million in inflows last week pushing monthly totals to $58 million. This marks the highest monthly figure for short-bitcoin products since August 2022 showing growing interest in hedging strategies amidst price volatility.

Source: The Block

Solana’s Monthly Dex Volume Source: DefiLlama

Solana achieved a new milestone in November recording $109.8 billion in decentralized exchange transaction volume. This figure more than doubled October’s $52.5 billion showcasing Solana’s scalability and efficiency as a blockchain platform.

Memecoin activity played a key role in this growth. Solana platforms like Raydium and Pump.fun generated $71.5 million and $182 million in fees during November. Solana processes $53 million in daily transactions far surpassing most other blockchains which average less than $5 million in daily activity.

Solana’s total market cap reached $90 billion this month with its native token SOL trading as high as $264 before settling below $240. Analysts predict that Solana’s expanding decentralized finance ecosystem and potential ETF approval could push its value higher while driving more institutional and retail adoption.

Read more: Top Decentralized Exchanges (DEXs) in the Solana Ecosystem

Solana’s Price Up 300% Since January 2024

Solana has smashed records with a 24% price surge over the past week and a staggering 300% rise since the start of the year. It now holds a $123 billion market cap which is about 4% of the total crypto market. Last week alone Solana handled over $40 billion in transactions more than doubling its previous weekly record of $17.5 billion set in March. Active users on Solana have increased over 1,500% from the beginning of the year while new daily addresses have grown eleven-fold in the same period. Analysts believe Solana could hit $700 especially with a potential ETF approval on the horizon. 

Source: 1 Year SOL Chart KuCoin

Spot Solana ETF on the Horizon?

Geoffrey Kendrick from Standard Chartered highlights that the chances of a Solana ETF approval have risen sharply with Republicans securing the White House Congress and Senate. President-elect Donald Trump’s pro-crypto stance has injected fresh confidence into the market with promises of industry-friendly policies. Solana’s ecosystem has also benefited from a surge in memecoin activity with traders fueling massive transaction volumes despite these tokens lacking intrinsic value. Platforms like Raydium contributed $71.5 million in fees during November while Solana processed $53 million in daily transactions far outpacing blockchains that average less than $5 million daily. These remarkable numbers underscore Solana’s scalability efficiency and growing potential to challenge Ethereum’s dominance in the blockchain space.

Read more: All About CHILLGUY, the Viral TikTok Memecoin Surging Over 6,000% to a $700M+ Market Cap

Source: BTC 1 Year Chart KuCoin

Dan Morehead, founder of Pantera Capital predicts Bitcoin could reach $740,000 by April 2028. This forecast is based on Bitcoin’s compounded annual growth rate of 88 percent since Pantera launched its Bitcoin Fund in 2013. The fund has delivered a lifetime return of 131,165 percent underscoring Bitcoin’s transformative potential.

At $740,000 Bitcoin’s market cap would rise to $15 trillion placing it among the largest financial markets globally. Morehead argues this is achievable within the $500 trillion global financial asset pool. He credits Bitcoin’s rally to improving regulatory clarity and the pro-blockchain stance of President-elect Donald Trump.

Morehead emphasizes Bitcoin’s consistent growth trajectory nearly doubling in price every year since its inception. With increasing institutional adoption and growing acceptance Bitcoin continues to position itself as a key driver of global financial innovation.

The cryptocurrency market is advancing rapidly.  Bitcoin’s dominance in investment products attracted $3.13 billion in net inflows last week reflecting its status as a digital store of wealth. Solana’s $109.8 billion monthly DEX volume demonstrates its strength in decentralized finance and high-efficiency transactions. Solana’s rapid expansion in decentralized finance showcases its ability to process massive transaction volumes while providing low fees and high-speed scalability. With the strong technical fundamentals and growing expansion of its ecosystem, it might not be far away to reach the next target of $300. However, always do your own research and assess your risk tolerance before making any investment decisions, as the crypto market remains highly volatile.