of supply inflation and selling pressure from whales or large investors. Ethereum Foundation converted ETH worth $2.74 million into USDC on Monday. Solana inflows dominate altcoin space as funding rout plagues sector Solana has emerged as a standoutperformerin the altcoin market with a surge in weekly inflows at $24 million, making it the "altcoin of choice", according to a recent CoinShares report.
Meanwhile, venture capital funding in the sector is down, a decline that could be challenging for the broader crypto market. Cyprus to tighten crypto regulations in accordance with FATF One of the friendliest European jurisdictions to crypto, Cyprus, might bring its industry regulation to tighter standards. According to an Oct. 10 report by the Cyprus Mail, the local Ministry of Finance intends to amend the existing Prevention and Suppression of Money Laundering Law.
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