Weekly Market Update - February 2nd 📨
Ethereum ETF:
$700M
JUP
Airdrop to Solana Wallets:
Stocks:
🏦 Topic of the Week: What is an ETF?
Read more here
- Fed Votes to Hold Interest Rates Causing Stocks to Tumble
- SEC Set to Approve Ethereum ETF by May
- Record Breaking Trading Volumes for Solana Dex in Wake of
JUP
Airdrop
Ethereum ETF:
- According to a new report by British multinational bank Standard Chartered, the U.S. Securities and Exchange Commission (SEC) is set to approve Ethereum (ETH) exchange-traded funds (ETFs) by the final deadline for approval on May 23, potentially doubling the current price of ETH.
- The report expressed strong confidence in an approval, citing the fact that the regulator has not classified ETH as a security.
$700M
JUP
Airdrop to Solana Wallets: - One of the biggest token airdrops ever took place on the SOL blockchain this week, as the Jupiter network started distributing roughly $700 million worth of its JUP token to nearly a million SOL wallets.
- Token trading on Solana decentralized exchanges briefly surpassed trading on Ethereum-based exchanges in December, and with the latest JUP airdrop, it could very well flip in favor of Solana again.
Stocks:
- Markets closed down -1.61% and -1.94% respectively, caused by the pushback of an interest rate cut, and amplified on the day due to a number of the tech giants showing underwhelming earnings on Tuesday evening and opening lower on Wednesday morning.
🏦 Topic of the Week: What is an ETF?
Read more here