By Shikha Singh
Solana’s Institutional Products Attract $2.3 mn as Bulls Eye SOL ETFs.
Solana has gained $2.4 million in inflows this past week, fueled by optimism for U.S. spot ETFs, despite SEC regulatory concerns.
Overall crypto market inflows reached $2.2 billion, with Bitcoin leading at $2.1 billion. Solana’s year-to-date inflows total $58 million, and its price has risen to $165, up 2% in the last 24 hours.
Meanwhile, regions like Canada and Switzerland saw minor outflows as investors took profits, indicating a mixed sentiment in fund flows.
VanEck Solana ETN Now Offers Staking Rewards for Investors Across the European Union.
The VanEck Solana ETN (VSOL) provides investors with exposure to the Solana blockchain, known for its high-speed transactions.
As of October 21, 2024, the ETN, fully collateralized with Solana in cold storage and tracking the MarketVector Solana VWAP Close Index, had net assets of approximately $75.88 million.
The staking process is non-custodial, meaning the Solana remains under the custodian’s control, minimizing lending risks. Staking rewards, though not guaranteed and subject to fluctuations, can contribute to an annual yield of 7%–9% for investors. Overall, the VanEck Solana ETN offers a secure and efficient way to invest in Solana while earning potential rewards without direct involvement.
Coinbase Pushes for Regulatory Transparency with FOIA Requests.
Coinbase is pushing for regulatory clarity in the U.S. by filing two Freedom of Information Act (FOIA) requests with the FDIC. These aim to clarify a reported 15% deposit cap on digital assets for certain banks and to understand past responses to crypto-related FOIA requests.
The exchange is involved in ongoing legal battles with the SEC, including a lawsuit over a prior FOIA request about Ethereum’s classification. As the U.S. presidential election approaches, Coinbase is also supporting pro-crypto candidates. Chief Legal Officer Paul Grewal reiterated their commitment to seeking clarity amid regulatory challenges.
Avalanche (AVAX) Price Reacts as Visa Card for Crypto Payments Goes Live.
Avalanche (AVAX) is seeing mixed signals despite positive momentum, with a trading volume of $291.90 million, up 29.17%. With a market cap of $11.15 billion, it has lost 3.83% in the last 24 hours, currently trading at $27.40.
The recent launch of the Avalanche Card, enabling crypto payments with assets like WAVAX and USDC at Visa locations, may enhance market performance, especially in Latin America and the Caribbean.
Private Banks Leading AI Adoption In Banking Services, says RBI study.
A Reserve Bank of India (RBI) study reveals that private sector banks are leading in adopting Artificial Intelligence (AI) for fraud detection, customer segmentation, and chat automation.
Banks’ asset size and capital adequacy influence adoption rates, with larger, financially sound banks investing more in technology.
Private banks target affluent customers with AI solutions like robo-advisory, while public sector banks, which have established offline channels, are also increasing their AI use. Despite the benefits of AI in enhancing efficiency and accessibility, challenges related to bias, transparency, and ethical data use remain, requiring careful evaluation.
Nvidia Proposes Joint Chip Development With India, Targeting AI Growth.
CEO Jensen Huang proposed that Nvidia collaborate with India to develop a semiconductor chip during a meeting with Prime Minister Narendra Modi. This partnership aims to leverage India’s semiconductor design talent and meet the country’s growing tech needs. India’s Minister for Electronics & IT, Ashwini Vaishnaw, confirmed that discussions are in early stages.
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