🤩 Is There a Solana ETF in the Future?

🤩 Is There a Solana ETF in the Future?

In this edition, we explore Dogwifhat, the Ethereum and Solana ETF progress, Crypto the Game’s Emmy nomination and more.

💥  Cutting Edge with Shoal Research

In collaboration with Shoal Research, this week’s special feature will dive into zkSync (ZK).

Key Terms

Zero-knowledge proofs: The cryptographic method enabling zkSync's secure and efficient transactions.

dApps: Decentralized applications that benefit from zkSync's scaling capabilities.

What is it?

zkSync is a Layer 2 scaling solution for Ethereum that leverages zero-knowledge rollups (zk-rollups) to enhance the blockchain's scalability, security, and efficiency.

What does it do?

zkSync aggregates multiple transactions into a single batch, which is then processed off-chain. This significantly reduces the computational load and gas fees on the Ethereum mainnet. Zero-knowledge proofs are used to ensure the validity of the transactions without exposing sensitive data, thereby maintaining security and privacy.

What does it mean?

zkSync addresses Ethereum's scalability issues by providing a solution that can handle thousands of transactions per second (TPS) with low fees and fast confirmation times. It represents a major advancement in making Ethereum more practical and efficient for a wide range of decentralized applications (dApps).

What does it represent in the space?

zkSync represents a crucial development in the blockchain space by enabling more scalable and efficient interactions on the Ethereum network. It allows for more complex and high-volume dApps, including decentralized finance (DeFi) applications, to operate seamlessly, thereby broadening the scope of what can be achieved on Ethereum.

Who is its competitor?

Competitors of zkSync include other Layer 2 solutions like Optimism, Arbitrum, and StarkNet.

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💡 Coin Spotlight: The N+1 HODL

In this segment, we dive into the N+1 Hodl basket and discuss our altcoins. 

Coin: Dogwifhat ($WIF)

Sector: Memecoin

Narrative: Dogwifhat is based on a meme of a Shiba Inu in a pink knitted hat. Dogwifhat has a strong community backing and supporters recently raised over $700,000 to get Dogwifhat on the Las Vegas Sphere. 

Fundamentals: Like many memecoins, Dogwifhat derives its value from speculation and community. The Dogwifhat website reads “literally just a dog wif a hat”.

Why do we hold: Dogwifhat is a well known memecoin with a strong narrative and many supporters. 

Performance: $WIF is up 1313% YTD. (Source: Coinmarketcap)

Crypto News Recap

Solana ETF Discussion 

Over the last few weeks, there has been a sharp increase in rumours surrounding a Solana ETF. As the 5th largest cryptocurrency by marketcap, a Solana ETF would be the next logical step in crypto ETFs. However, it is a move that is unlikely to happen anytime soon. Bloomberg Analyst James Seyffart spoke to Cryptonews, saying there is “a long way to go before another digital asset gets an ETF in the U.S.”.

Spot Ethereum ETF Timeline

In other ETF news, Eric Balchunas has set his best guess for the spot Ether ETF as July 2nd. In a Tweet on June 14th the Bloomberg analyst said “We are moving our over/under date for the launch to July 2nd”. Balchunas justifies this assumption based on the feedback for S-1 applications being minor. 

Crypto The Game: Emmy Award Nominee 

Crypto: The Game is in the running for an Emmy nomination. The game showed up on the ballot for nominations under the Outstanding Emerging Media Program. This is thought to be the first native onchain project to make it onto an Emmy ballot. The news comes shortly after Crypto: The Game was acquired by Uniswap Labs. 

📚 N+1 Recommendations 

The N+1 reading and media recommendations are sourced from our team of experts and offer weekly suggestions for learning more about blockchain, crypto, finance and technology.

This weeks recommendation: Crypto Fear and Greed Index Hits 70

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N+1 Insights is meant for informational purposes. It is not meant to serve as investment advice.