Rhythm Morning News｜A list of important news from last night and this morning on June 28

SOL rebounded above $150, up more than 10% in 24 hours

BlockBeats news, on June 28, according to OKX market data, SOL rebounded above $150, up 10.40% in 24 hours.

Bitcoin rebounded above $62,000

BlockBeats news, on June 28, according to OKX market data, Bitcoin rebounded above $62,000, up 1.72% in 24 hours.

DXY rose 0.05% and Bitcoin rose 0.83% after the US presidential debate began

BlockBeats news, on June 28, since the first TV debate between Biden and Trump at 9:00 today, the US dollar index DXY rose 0.05% and Bitcoin rose 0.83%.

BODEN fell nearly 30% in a short period of time, temporarily reported at 0.1055 US dollars

BlockBeats news, on June 28, Biden concept MEME coin BODEN fell nearly 30% in a short period of time, temporarily reported at 0.1055 US dollars. Trump concept MEME coin TRUMP is temporarily reported at $8.76, down 6.44% in 24 hours.

The first TV debate between Biden and Trump has officially begun.

Solana ecosystem Meme tokens have seen a general rise, and WIF has risen by more than 12% in a short period of time

BlockBeats news, on June 27, according to CoinGecko data, affected by the news of "VanEck submitting Solana trust application", Solana ecosystem Meme tokens have seen a general rise, including:

· WIF rose by more than 12% in a short period of time and is now quoted at $2.18

· MOTHER rose by more than 12% in a short period of time and is now quoted at $0.086

· BOME rose by about 7% in a short period of time and is now quoted at $0.0098

· BONK rose by about 7% in a short period of time and is now quoted at $0.000023

· MEW rose by about 5% in a short period of time and is now quoted at $0.004

Solana ecological project tokens saw a general rise, RAY rose by more than 10% in a short period of time

BlockBeats news, on June 27, according to CoinGecko data, affected by the "VanEck Submitted Solana Trust Application” news, Solana ecosystem project tokens have seen a general rise, including:

· RAY rose by more than 10% in a short period of time and is now quoted at $1.69

· JTO rose by about 9% in a short period of time and is now quoted at $2.65

· JUP rose by more than 8% in a short period of time and is now quoted at $0.853

· PRCL rose by more than 6% in a short period of time and is now quoted at $0.259

· PYTH rose by about 5% in a short period of time and is now quoted at $0.3327

· W rose by more than 5% in a short period of time and is now quoted at $0.349

VanEck submitted Solana trust application

BlockBeats news, June On the 27th, according to the SEC's official website, VanEck submitted an application for the Solana Trust. The VanEck Solana Trust is an ETF that issues equity common shares, which are expected to be listed and traded on Cboe BZX Exchange Co., Ltd., subject to issuance notification. The trust's investment objective is to reflect Solana's price performance, minus trust operating expenses. To achieve its investment objectives, the trust will hold SOL and value its shares daily based on the MarketVectorTM Solana benchmark exchange rate.

MegaETH developer MegaLabs completes $20 million seed round of financing, led by Dragonfly

BlockBeats news, on June 28, TheBlock reported that MegaETH developer MegaLabs announced the completion of a $20 million seed round of financing, led by Dragonfly, with participation from Figment Capital, Robot Ventures, Big Brain Holdings, Vitalik Buterin, ConsenSys founder and CEO Joseph Lubin, EigenLayer founder and CEO Sreeram Kannan, ETHGlobal co-founder Kartik Talwar, Helius Labs co-founder and CEO Mert Mumtaz, Santiago Santos, Hasu and Jordan Fish (also known as Cobie) and other angel investors. It is reported that MegaETH's public testnet will be launched in early autumn, and the mainnet is expected to be launched at the end of the year.

Biden campaign hires Coinbase advisory board member as senior adviser for the general election

BlockBeats reported that on June 28, the Biden campaign hired Keisha Lance Bottoms as a senior adviser for the 2024 general election. Lance Bottoms served as mayor of Atlanta from 2018 to 2022 and joined the Coinbase advisory board in April 2024, after resigning as a White House adviser in 2023.

Lance Bottoms will not resign from her position on the Coinbase Global Advisory Board during the Biden campaign. Lance Bottoms said at the Stand With Crypto Atlanta event that cryptocurrency provides an opportunity for communities without bank accounts to strengthen financial freedom.

Bloomberg analyst: Solana ETF "comes earlier" than expected, but the approval rate is still unknown

BlockBeats news, on June 27, Bloomberg ETF analyst James Seyffart posted on social media that analysts had previously imagined that if the White House and the SEC changed to a new government, the Solana spot ETF might be launched sometime in 2025, but the approval rate is still unknown.

Wintermute founder: SOL ETF is unlikely to be approved this year, but still optimistic in the long term

BlockBeats news, on June 27, Wintermute founder and CEO Evgeny Gaevoy posted on X that the possibility of SOL ETF being approved this year is almost zero (it is quite stupid to wishfully think that this will become a priority for the Trump administration). Wintermute is a long-term supporter of SOL and ETH, but it should not be over-exaggerated. It is better to be realistic. The adoption of cryptocurrencies takes time. Once you really see the inflow of funds into the ETH ETF, you will understand that even if the SOL ETF is approved, the inflow will be less.

Viewpoint: SEC may insist on identifying Solana as a security, and ETF approval needs to wait for the change of regulatory authorities

BlockBeats news, on June 28, according to TheBlock, investment management company VanEck has applied to launch a Solana ETF to track the price of Solana's native token. Many analysts said that after the U.S. Securities and Exchange Commission (SEC) recently gave the green light to Ethereum-based ETFs, the market's application for a Solana ETF was inevitable, but few doubted that it would succeed in the first place.

“It can’t be done, and I suspect VanEck is building goodwill and laying the groundwork for a future launch,” said Haseeb Qureshi, a partner at investment firm Dragonfly Capital. “But the SEC made it clear that they believe SOL is a security. This administration is not going to budge on this.” James Seyffart, an ETF expert at Bloomberg Intelligence, agreed, saying on X that the fund “has a chance of launching sometime in 2025 only if there is new management in the White House and at the SEC.”

The biggest legal hurdle facing the SOL ETF is that the SEC’s enforcement division has made it clear that SOL is an unregistered security. Notably, this happened a year ago when the agency sued Binance for having a market in Solana and 11 other cryptocurrencies. The SEC’s opinion is based on securities laws passed in the early 1930s and the Howey test, which determines what constitutes a “security investment.” Essentially, if a person invests money in a common enterprise with the expectation of profiting from the labor of others, the SEC can declare that asset a security.

JP Morgan Chase: Mt.Gox creditors may sell some Bitcoin next month, and the market is expected to rebound in August

BlockBeats news, June 27, JPMorgan analyst Nikolaos Panigirtzoglou said in a report on Wednesday that Gemini Earn's creditors may have recently liquidated some of the crypto assets received. Mt. Gox creditors also face similar downside risks in July. "Assuming that most of the liquidation of Mt. Gox creditors occurs in July, cryptocurrency prices will be further pressured in July, but will rebound from August."

On the other hand, FTX's cash repayment amount is estimated to be about US$14 billion to US$16 billion, which is expected to be repaid shortly after the liquidation plan is finally approved on October 7. Analysts say these repayments from FTX could support the cryptocurrency market, with cryptocurrency native creditors likely to reinvest funds in assets.

Prediction: Ethereum ETF will see $7.5 billion in inflows in the first five months of listing

BlockBeats news, June 28, Galaxy Vice President of Research Charles Yu said in a report on Wednesday that in the first five months of trading, the scale of ETH ETF inflows is conservatively estimated to be 20% of Bitcoin ETF inflows.

Yu said that from its launch to June 15, the net inflow of Bitcoin ETFs reached $15.1 billion. If his prediction is correct, similar Ethereum ETFs could see inflows between $3 billion and $7.5 billion. This is roughly in line with Bitwise Chief Investment Officer Matt Hougan's prediction that a U.S. spot ETH ETF could attract $15 billion worth of net inflows in the first 18 months after launch.

"With less than six months of launch, the Bitcoin ETF can serve as a useful basis for examining the popularity of Ethereum ETFs," Yu wrote in the report, noting that the Bitcoin ETF is at least "partially responsible" for Bitcoin's price gains this year.

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