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Solana News
Coin Telegraph
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Image Credit: Coin Telegraph
Why is Solana (SOL) price down today?
- Solana's native token, SOL (SOL), has dropped over 4.50% in the last 24 hours, reaching around $150 on June 17.
- The ban on Solana-based memecoin launchpad Pump.fun by X and lower risk appetite due to Israel-Iran conflict and Trump's G7 remarks have contributed to SOL's decline.
- The suspension of Pump.fun has led to a sell-off in Solana's memecoin sector, impacting SOL's price negatively.
- Geopolitical tensions have triggered a flight from risk assets, including SOL, causing price drops across major US stock indexes.
- Solana is currently trading within a bearish descending triangle pattern, indicating a potential 25% drop in price.
- The descending triangle pattern is a bearish reversal sign, showing weakening buying momentum for SOL.
- Technically, SOL was rejected near its 50-day exponential moving average (EMA) at around $156, adding to short-term selling pressure.
- A breakdown below the triangle's support level could lead to a sharp drop towards the $110-$115 range.
- This article does not provide investment advice and recommends readers to conduct their own research before making any financial decisions.
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Bitcoinist
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Image Credit: Bitcoinist
CoinShares Files for Spot Solana ETF, Proposes Staking Integration
- CoinShares has filed for a spot Solana ETF in the U.S., focusing on staking as part of the fund's strategy.
- The company plans to stake a portion of its SOL holdings through designated providers, reinvesting staking rewards.
- Coinbase Custody and BitGo Trust are set to handle custody of the underlying SOL tokens for the ETF.
- The filing coincides with other firms like VanEck and Franklin Templeton seeking approval for similar Solana ETFs.
- Regulators may be softening their stance on crypto spot ETFs, with asset managers amending filings with additional details on staking methodologies.
- Truth Social platform has submitted an ETF application for Bitcoin and Ethereum with flexibility in asset allocation.
- Other firms like Volatility Shares and ProShares have filed for ETFs tied to crypto futures markets.
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Bitcoinist
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Image Credit: Bitcoinist
Bybit Unveils Solana-Powered DEX Byreal with CEX-Grade Speed, Mainnet Coming Q3
- Crypto exchange Bybit introduces its first decentralized exchange, Byreal, running on the Solana blockchain.
- Byreal is set to start testnet operations on June 30, with a full mainnet launch anticipated in Q3 of 2025.
- Bybit's move into decentralized finance (DeFi) with Byreal aligns with the current trend towards transparency and decentralization in the market.
- Bybit CEO Ben Zhou describes Byreal as a hybrid model blending centralized exchange liquidity with decentralized transparency.
- Byreal incorporates features like Request For Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing to enhance trading efficiency and transparency.
- The platform aims to offer a curated token launchpad, yield-generating vaults, and support for assets like bbSOL, a liquid staking derivative on Solana.
- Byreal's strategy positions it to compete with DEXs like Raydium and launch platforms on Ethereum and BNB Chain.
- Solana Foundation president Lily Liu highlights the potential synergy between centralized exchanges' liquidity and decentralized exchanges' global accessibility.
- Data from May 2025 shows DEXs accounting for over 20% of the global spot trading volume, with Solana-based DEXs contributing significantly to this trend.
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Livebitcoinnews
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Image Credit: Livebitcoinnews
CoinShares Files to Launch Spot Solana ETF in U.S.
- CoinShares has filed to launch the first U.S. spot Solana ETF offering, marking a significant move for the company.
- The proposed CoinShares Solana ETF will have physical Solana tokens in its backing, providing passive income potential for investors through staking.
- Other asset managers like Fidelity, VanEck, and Grayscale have updated their SEC filings for Solana ETFs, anticipating approval within two to four months.
- Solana's price surged by 6% amid optimism surrounding ETF approval, trading at $155 at the time of the news.
- The ETF's inclusion of staking allows token holders to earn rewards, enhancing the appeal of the product for investors.
- This filing brings Solana closer to being approved for an ETF, following the success of spot Bitcoin and Ethereum ETFs earlier this year.
- While approval is not guaranteed, growing optimism in both crypto and traditional finance sectors suggests increasing confidence in Solana ETF approval.
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Blockonomi
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Image Credit: Blockonomi
Solana Co-founder Slams Cardano’s Bitcoin Treasury Strategy as Misguided Move
- Solana co-founder criticizes Cardano's plan to diversify its $1.2 billion treasury into Bitcoin and stablecoins.
- Anatoly Yakovenko from Solana challenges Cardano's move, arguing that projects shouldn't hold Bitcoin on behalf of communities.
- Yakovenko suggests teams should maintain funds in low-risk assets rather than volatile cryptocurrencies like BTC.
- Cardano's proposal aims to convert ADA holdings into BTC and stables to generate yield and repurchase ADA in the future.
- Supporters see this as a move towards long-term stability and strategic maturity, akin to sovereign wealth funds.
- Critics worry about potential pressure on ADA's price due to the treasury diversification plan.
- Mixed reactions and market speculation surround the implications of Cardano's treasury transformation.
- Institutional watchers are monitoring the execution and regulatory response to Cardano's diversification strategy.
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Crypto-News-Flash
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Image Credit: Crypto-News-Flash
Solana Breaks $157 as Institutional Confidence and Bybit’s DEX Drive the Rally
- Solana (SOL) has surged to $157, up by 7% in the last 24 hours and 2% in the last week.
- The rally is attributed to rising institutional interest and the launch of Bybit's Decentralised Exchange on Solana.
- Traders' confidence has grown, with daily trading volume rising by 98% to $4.5 billion.
- Analysts believe SOL's recent upsurge is fueled by Bybit's Solana-based DEX launch and increasing adoption.
- Bybit's decentralized exchange, Byreal, set to launch on Solana's mainnet, is anticipated to boost SOL's price.
- Byreal aims to compete in the $20.3 billion DEX industry with advanced protocols for low slippage and MEV protection.
- Uniswap leads DEX platforms with 24% market share, while Raydium dominates Solana ecosystem with 55% TVL.
- SOL's price rise is also influenced by rising institutional adoption, highlighted by investments from MemeStrategy and DeFi Development Corp.
- Analyzing the price chart, analysts foresee SOL surging to $168 in the short term and potentially reaching $174 or higher.
- Long-term projections suggest SOL reaching $2000, comparable to Ethereum's previous market cap, and even possibly hitting $4000.
- Analyst Crypto Curb hints at a $2000 price level for SOL in the long term.
- Renowned trader Ali Martinez predicts SOL could reach $4000 over time.
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Livebitcoinnews
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Image Credit: Livebitcoinnews
Byreal Hybrid DEX Launch Shakes Up Solana Blockchain
- Bybit is launching Byreal, a hybrid DEX on the Solana blockchain with testnet scheduled for June 2025.
- Byreal aims to combine CEX liquidity with DeFi transparency for more efficient and secure trading.
- Innovative features such as RFQ, CLMM, and shared liquidity pools will offer low-slippage trades on Byreal.
- The Solana infrastructure enables quick and cost-effective transactions for Byreal users.
- Byreal's launch marks Bybit's entry into the DeFi ecosystem.
- Byreal's system will challenge other DEX services like Uniswap and Raydium.
- The platform will address liquidity fragmentation issues in DeFi.
- Byreal plans to incorporate yield vaults and fair token distribution systems in the future.
- Solana's high scalability with 65,000 transactions per second will support Byreal's efficient trading.
- Byreal's launch is expected to enable sustainable user adoption by Q3 2025.
- Byreal's hybrid model aims to merge traditional and decentralized finance services.
- Byreal's Smart pricing system will ensure fair token distribution, minimizing whale influence.
- The Byreal launch counters Bybit's earlier Web3 efforts cut.
- Bybit's integration of Byreal may drive user adoption and bridge the gap between traditional and DeFi.
- Bybit aims to leverage Solana's network capabilities for efficient and transparent trading on Byreal.
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TronWeekly
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Image Credit: TronWeekly
Solana Gets Boost with 2440 SOL Investment by MemeStrategy
- Hong Kong-based digital asset firm MemeStrategy becomes the first listed company on HKEX to invest 2,440 SOL in Solana through licensed platform OSL.
- This move shows a strategic shift towards altcoin ecosystems, signaling institutional interest beyond Bitcoin and Ethereum.
- MemeStrategy's investment in Solana sets a precedent for wider institutional adoption in Asia and reflects a commitment to the digital asset space.
- The investment valued at approximately USD 370,000 highlights Hong Kong's ambition to become a regulated hub for crypto innovation.
- MemeStrategy's support for Solana aligns with the growing trend among institutions seeking scalable and high-speed blockchain networks.
- Solana's proof-of-stake model, staking incentives, and fast transaction processing make it an attractive option for institutional investors diversifying beyond Bitcoin.
- The investment was made possible through the regulated platform OSL, signaling a shift towards diversified assets beyond mainstream cryptocurrencies like Bitcoin and Ethereum.
- MemeStrategy's move, though modest in financial terms, holds significant strategic implications, positioning the firm at the forefront of institutional involvement in Web3.
- By utilizing compliant platforms like OSL, Hong Kong aims to support broader institutional crypto adoption, signaling readiness for the next phase of crypto growth.
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Bitcoinist
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Image Credit: Bitcoinist
Cardano Founder Announces $100 Million Bitcoin Buy In Shocking Move To Prop Up ADA Price
- Charles Hoskinson proposes creating a sovereign wealth fund for Cardano's DeFi ecosystem with up to $100 million worth of Bitcoin.
- The proposal aims to boost ADA price by converting a portion of the treasury into assets like Bitcoin and stablecoins.
- Hoskinson believes this move will not negatively impact ADA price but instead catalyze a surge.
- The fund's yields will be used to buy more Cardano, replenishing what was converted to Bitcoin and other assets.
- They plan to grow the fund over the next 5-10 years to become a billion-dollar treasury, stabilizing the ADA price.
- This strategy aims to put Cardano on par with Ethereum and Solana in terms of DeFi activity and TVL.
- A Cardano community member expressed concern over a potential negative impact on ADA price from a large sell-off.
- Hoskinson reassured the community that large sales could be conducted strategically without disrupting the market, using OTC and TWAP techniques.
- ADA price currently trades at around $0.64, showing a nearly 2% increase in the last 24 hours.
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TheNewsCrypto
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CoinShares Enters Solana ETF Race with SEC Filing
- CoinShares has filed an S-1 form with the SEC to launch a spot Solana ETF, staking a portion of its SOL holdings for rewards.
- This move makes CoinShares the eighth firm seeking approval for SOL-based exchange-traded products.
- The proposed 'CoinShares Solana ETF' would track Solana's price and utilize Coinbase Custody and BitGo Trust as custodians.
- The ETF plans to stake SOL holdings through undisclosed providers to generate additional yield.
- Firms like VanEck and Franklin Templeton have amended S-1 submissions with new staking and redemption mechanics following SEC requests.
- Industry experts view this as progress towards regulatory clarity.
- Bloomberg's Eric Balchunas suggests potential approval for Solana ETFs within two to four months.
- Issuers urge the SEC to honor the 'first-to-file' principle in granting approvals, impacting launch order and market positioning.
- Recent Bitcoin and Ethereum ETF approvals have paved the way for broader digital asset adoption.
- Solana emerges as a promising Layer 1 candidate, with ETF filings for other assets like Litecoin, XRP, and Dogecoin under review.
- CoinShares' ETF filing reflects growing institutional interest in diversified crypto exposure beyond BTC and ETH.
- Investors seek alternatives with robust ecosystems and scalability, with Solana's high throughput and low fees meeting demand.
- Solana's price near $156 remains strong amid speculation of ETF approval, indicating investor confidence during market fluctuations.
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TronWeekly
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Image Credit: TronWeekly
MemeStrategy Buys 2,440 SOL as It Begins Building Solana Reserves
- MemeStrategy has acquired 2,440 Solana (SOL) tokens by investing HKD2.9 million from the open market.
- The acquisition was done through the licensed trading platform OSL Group in Hong Kong.
- MemeStrategy plans to stake the tokens to support the Solana Proof-of-Stake network.
- The investment is part of the company’s strategic reserve plan for long-term crypto reserves and entry into Solana's ecosystem.
- MemeStrategy's shares surged over 28% on the Hong Kong Stock Exchange post announcement, indicating positive market response.
- The company intends to support Solana's validation procedures, accumulate staking returns, and engage in high-growth blockchain activities.
- MemeStrategy's broader goals include expansion into blockchain, AI, real-world asset tokenization, and involvement in the Web3 space.
- The SOL price increased by 8% to $157 post-MemeStrategy's investment, reaching a market cap of $82.4 billion.
- MemeStrategy's move aligns with the growing institutional interest in Solana and the rise of staking-linked ETF models.
- The surge in SOL's trading volume and open interest signals strong investor confidence and increasing institutional involvement in Solana.
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Blockonomi
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Image Credit: Blockonomi
CoinShares Files for Solana ETF as SEC Approval Odds Soar
- CoinShares has filed for a spot Solana ETF in the U.S., joining other issuers in pursuit of SEC approval.
- Bloomberg analysts estimate a 90% approval likelihood for Solana ETFs.
- Solana's speed, cost-efficiency, and staking compatibility attract interest from institutional managers.
- SOL token rose over 5% following the news, indicating market excitement for a potential summer approval.
- CoinShares submitted a new application to the SEC amidst increasing optimism for approval.
- Major asset managers have updated filings following regulatory feedback, with potential SEC decisions expected soon.
- Attention is shifting to Solana's role in broader crypto ETF adoption.
- CoinShares filed for the 'CoinShares Solana ETF' with plans for continuous offering under Rule 415.
- At least eight active Solana ETF applicants are now competing for market entry.
- Recent amendments to filings suggest alignment with regulatory expectations to expedite approval.
- Bloomberg analysts estimate a 90% approval chance and anticipate a decision between July 2 and July 23.
- Solana's attributes compared to Ethereum make it appealing to institutional issuers for ETFs.
- The network's infrastructure supporting in-kind transactions and staking rewards validates Solana's scalability for ETF operations.
- SOL token trading volume has surged post-ETF developments, with positive short-term speculation.
- SOL token trades at $155.63 with a 24-hour trading volume of $5,172,258,485, marking a 5.63% daily increase.
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Coin Telegraph
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Image Credit: Coin Telegraph
Why is Solana (SOL) price up today?
- Solana's native token, SOL, surged 9.5% to $157, driven by increased trading volume.
- Speculation on a Solana spot ETF approval in the US boosted SOL's rally.
- Polymarket's odds for Solana ETF approval reached 91%, with several asset managers filing for ETFs.
- Institutional interest surged, with Invesco and Galaxy Digital planning a Solana ETF Trust in Delaware.
- Solana futures open interest hit a two-year high at 45.87 million SOL, signaling strong institutional participation.
- The OI, totaling $6.86 billion, indicates leveraged bets on SOL's price trajectory.
- SOL's bull flag formation on the daily chart suggests a potential price target of $315.
- Analysts predict that ETF approvals could drive SOL to new all-time highs, potentially hitting $1,300.
- The SOL/USD pair needs to surpass the 50-day SMA at $161 for a sustained recovery.
- The daily RSI rose to 50, reflecting increasing bullish momentum.
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TheNewsCrypto
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Bybit Sets the Stage for Byreal Hybrid DEX Launch on Solana
- Bybit is introducing Byreal, a decentralized exchange (DEX) on Solana, with CEX-level liquidity and on-chain transparency.
- Byreal features dual routing, yield vaults, fair launch tools, and aims for smoother DeFi trading.
- Bybit plans to launch Byreal in Q3 2025 after a testing phase starting on June 30.
- The DEX intends to combine centralized exchange liquidity with DeFi protocol transparency.
- Byreal's architecture includes a dual routing system merging RFQ with CLMM for efficient trades with low slippage.
- Byreal offers tools like the Smart Price Ladder launchpad and Fairshare Engine to balance token launches and prevent whale domination.
- Bybit's integration of bbSOL, a liquid staking token on Solana, showcases a connection between its core exchange and Web3-native tools.
- Byreal's testnet goes live on June 30, aiming for a mainnet launch in Q3 2025, focusing on trading infrastructure and consolidation after recent projects were cut.
- The launch of Byreal coincides with Solana's growth in DeFi, attracting interest from major players like Kraken and Fidelity.
- Byreal bets on offering global CEX experience on-chain, emphasizing liquidity, speed, depth, and self-custody in its model.
- The success of Byreal will depend on maintaining strong liquidity, providing a seamless trading experience, and building trust in its hybrid model.
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TheNewsCrypto
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Solana (SOL) Climbs to $156 with a 6% Surge, Can This Bullish Energy Push It Higher?
- Solana (SOL) has surged by 6.64% to $156 with a daily high around $157.13, breaking key resistance levels.
- SOL's market cap stands at $82.7 billion with a trading volume surge of over 97.21% to $4.45 billion.
- The market cap has reached $3.32 trillion with assets showing mixed sentiment as fear and greed index holds at 50.
- Bitcoin (BTC) is trading near $106.5K, while Solana has recorded $14.14 million worth of liquidations.
- Technical indicators reveal a potential shift towards bullish momentum for SOL with moderate buying pressure.
- On the chart, SOL may test resistance at $157.43 and aim for $158, while a downside correction could target $155.93.
- Daily RSI at 64.23 indicates bullish territory with potential overbought conditions for SOL.
- Bull Bear Power (BBP) at 11.93 shows bullish dominance, supporting upward price movement.
- Michael Saylor met Pakistani leaders to discuss support for crypto development.
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