Few major cryptocurrencies have as favorable a setup as Solana's (CRYPTO: SOL). Between the chain's inexpensive gas fees, snappy transaction speeds, and collection of low-friction applications for investors, there's a lot to like about it already. Perhaps the largest catalyst that's inbound for Solana, potentially within the coming months, is the approval of exchange-traded funds (ETF) that hold the coin directly.
Michl said the idea was still under analysis and no immediate decision was forthcoming. Central banks traditionally park reserves in more conservative assets and some have warned about the risks of using cryptocurrencies in public coffers. Since taking the helm of the Czech central bank in 2022, Michl has led a drive to diversify the bank's hefty reserves through the gradual gold purchases and shifting a bigger share of the portfolio into equities to create sustained profits.
In 2013, two friends named Billy Markus and Jackson Palmer felt the cryptocurrency industry was taking itself too seriously. Many enthusiasts were excited by the soaring price of Bitcoin, which went from $20 to $800 that year. To lighten the mood, Markus and Palmer launched their own cryptocurrency in December 2013 called Dogecoin (CRYPTO: DOGE).
Bitcoin futures basis turned negative for the first time since August 2023, following a sharp decline in Nvidia's stock price, which affected the cryptocurrency market.