Solana Faces Challenges Amid Governance Rejection and Token Unstaking
The Solana blockchain is currently navigating a series of significant developments. A key governance proposal, SIMD-228, which aimed to reduce token inflation to below 1% annually, was rejected by the community. The current inflation rate of 4.6% per year, with a planned annual reduction of 15% until it stabilizes at 1.5%, remains in place. Despite a record voter turnout of 74%, the proposal failed to achieve the required 66.67% majority, garnering only 43.6% support. Experts like Tushar Jain from Multicoin Capital view this as a testament to the network's decentralization. More details can be found on Krypto Magazin: https://www.krypto-magazin.de/solana-vor-turbulenzen-gescheiterter-vorschlag-massives-unstaking-und-bullische-hoffnungen/.
In another development, a wallet linked to the defunct FTX exchange unstaked 177,000 SOL tokens worth $22.9 million, distributing them across 37 wallets holding a combined $178.82 million in Solana. Historically, such unstaking events have led to price drops, and the SOL price has already fallen by 12.77% over the past week. However, the ecosystem continues to innovate, with the Layer-2 solution Solaxy (SOLX) under development. The SOLX token presale has raised over $26 million, signaling investor interest. More information is available on FinanzNachrichten.de: https://www.krypto-magazin.de/solana-vor-turbulenzen-gescheiterter-vorschlag-massives-unstaking-und-bullische-hoffnungen/.
Cardano Balances Hope and Crisis Amid Internal Conflicts
Cardano (ADA) is facing a mix of optimism and challenges. A recent announcement by Donald Trump to include Cardano in a strategic US crypto reserve initially boosted the ADA price. However, a subsequent market correction led to a 40% drop from its March highs. Internal governance issues have also surfaced, with the Cardano Foundation proposing a 44% budget cut for Input Output, the platform's main developer, from 69.8 million ADA to 38.8 million ADA. This has raised concerns about potential impacts on research and development. For more details, visit Krypto Magazin: https://www.krypto-magazin.de/cardano-zwischen-hoffnung-und-krise-kurssturz-investorenvertrauen-und-strategische-konflikte-im-fokus/.
Despite these challenges, large investors have shown confidence, accumulating 180 million ADA tokens last week, increasing holdings in wallets with 1 to 10 million ADA to 6 billion. The ADA price currently stands at approximately $0.7250, reflecting an 11% daily recovery but still 40% below its March peak. Regulatory uncertainties persist, with the SEC extending the review period for a Cardano ETF application by 45 days. More insights can be found on Boerse-express.com: https://www.krypto-magazin.de/cardano-zwischen-hoffnung-und-krise-kurssturz-investorenvertrauen-und-strategische-konflikte-im-fokus/.
Wall Street Resilient Amid Weak Data, Bitcoin Under Pressure
The Wall Street markets demonstrated resilience despite weak economic indicators. The Dow Jones rose by 260 points to 41,061, and the Nasdaq Composite gained 1.3%, driven by bargain hunting after the S&P 500 entered correction territory. Notable gainers included MicroStrategy (+9.67%) and Applovin (+7.94%), while T-Mobile USA (-2.09%) and Regeneron Pharmaceuticals (-2.87%) saw declines. For more, refer to DER AKTIONÄR: https://www.deraktionaer.de/artikel/aktien/opening-bell-wall-street-trotzt-schwachen-daten-bitcoin-gold-intel-apple-walmart-t-mobile-us-im-fokus-20376669.html.
In contrast, Bitcoin has fallen below $80,000, currently trading at $79,612, down from over $105,000 in January. Factors such as disappointment over the US Bitcoin reserve, which only includes confiscated assets, and a major crypto theft in Dubai have contributed to the decline. Analysts warn of further selling pressure, particularly from retail investors who bought at an average price of $97,000. For further analysis, visit finanzmarktwelt.de: https://finanzmarktwelt.de/bitcoin-faellt-unter-80-000-dollar-die-grosse-enttaeuschung-experten-erlaeutern-341723/.
Meanwhile, the proposed US Bitcoin reserve has sparked political controversy. Critics, including Democrat Gerald Connolly, have raised concerns about potential conflicts of interest and called for the initiative to be halted. The reserve is planned to consist solely of confiscated Bitcoins, avoiding new purchases. For more information, see DER AKTIONÄR: https://www.deraktionaer.de/artikel/maerkte-forex-zinsen/bitcoin-steht-die-bitcoin-reserve-auf-der-kippe-20376600.html.
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