Solana reaches new highs in active addresses, MEXC clarifies CEO account issue, SEC sets Bitcoin ETF deadline, Manta Network's TVL surpasses $250M.
Solana Records Monthly Highs in Active Addresses 

Solana Records Monthly Highs in Active Addresses 

Dec 26, 2023
| Issue

Merry Christmas and happy holidays, everyone! As always, we’ve compiled the pivotal stories that have influenced the crypto landscape over the past 24 hours:

Solana Records Monthly Highs in New and Active Addresses 

Amid its token’s significant 100% price increase from last month, the Solana network has broken records for new and active addresses. The recent price rally of Solana, now surpassing $100, has intensified interest in the network, especially with Saga phones offering BONK airdrops fetching high prices on eBay. Solana’s active address count has surged by about 50% since November, reaching over 15.6 million, exceeding the previous high of 15.2 million in January. 

Furthermore, the network witnessed a record 6.8 million new addresses in December, surpassing the prior record of 6.6 million in May 2023. 

MEXC Clarifies Deleted “CEO” Account, Withdrawal Issues

Crypto exchange MEXC has addressed concerns after the deletion of an X account named “MEXC_CEO,” which led to speculation about its CEO’s involvement. The account’s removal, alongside user reports of frozen accounts and withdrawal issues, particularly with Kaspa (KAS) tokens, had raised alarms.

MEXC clarified that the account, formerly used for official purposes, was not connected to the exchange since the original CEO’s departure in July 2022. Acknowledging a communication gap, MEXC apologized for the confusion and committed to more transparent announcements in the future. The exchange is also actively countering what it considers to be unfounded accusations and misinformation about its platform.

SEC Announces Dec. 29 Deadline for Spot Bitcoin ETF Updates

The U.S. SEC has set December 29 as the deadline for final amendments to spot Bitcoin ETF applications. This date is critical for applicants aiming for potential approvals in early January 2024. In a December 21 meeting, the SEC discussed with representatives from various firms like BlackRock, Grayscale, ARK Investments, and 21 Shares, along with Nasdaq and the Chicago Board Options Exchange. 

Applications failing to meet the deadline won’t be considered in the initial wave of approvals. The SEC mandates a cash redemption model and requires applicants to name their authorized participants in the filings. Despite these stringent requirements, Bloomberg analysts remain optimistic about the SEC’s potential approval of the first spot Bitcoin ETFs by January 10.

Manta Network’s TVL Surpasses $250 Million

Manta Network’s New Paradigm has seen significant growth, with its TVL exceeding $250 million. This surge places New Paradigm above Starknet and Linea, ranking it eighth among Ethereum Layer 2 solutions. New Paradigm currently holds pledges of 86,674 ETH and 49,906,534 USDC, numbers that continue to grow.

Developed using the Blast model, New Paradigm offers users multiple benefits for pledging ETH and USDC to Manta Pacific. These benefits include fixed income on ETH and USDC, MANTA token airdrops, and rewards from ecological projects. Manta Pacific has garnered over $60 million in financing from prominent investors including Polychain, Binance Labs, CoinFund, and SevenX Ventures. 

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