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Solana News
Livebitcoinnews
2w
117
Image Credit: Livebitcoinnews
Sol Strategies Files for Nasdaq, Holding 420K SOL: What’s Next for Solana Price?
- Canadian investment firm Sol Strategies has filed with the SEC to list its stock on Nasdaq, potentially gaining better access to institutional capital and boosting Solana market inflows.
- This filing marks a significant milestone for Sol Strategies and its commitment to the Solana network.
- If approved, the company would start trading under the ticker symbol 'STKE' on Nasdaq, providing enhanced exposure to institutional capital.
- The news of the filing resulted in a 4.39% increase in Sol Strategies' stock value, indicating investor confidence.
- Despite facing challenges earlier in the year, Sol Strategies continues to invest in Solana, holding over 420,000 SOL tokens valued at more than $61 million.
- The company's aggressive investment in Solana, similar to MicroStrategy's approach with Bitcoin, includes acting as a Solana validator and staking.
- Analyzed by Cantor Fitzgerald, Solana's ability to handle 65,000 transactions per second and cost efficiency are seen as attractive traits for companies.
- Solana's current price stability around $146.40 and technical indicators suggest a neutral trend with resistance near $170 and bullish targets at $190.
- Analysts predict SOL could reach an average price of $325 by year-end, with some optimistic scenarios foreseeing a peak around $400, although regulatory changes or network issues could present risks.
- Sol Strategies' strategic actions and potential Nasdaq listing could indirectly support SOL prices by attracting more institutional and retail investors.
- The filing news generated excitement in both investor and Solana community circles.
- Sol Strategies' accumulation of SOL tokens and involvement as a validator demonstrate strong commitment to the Solana network.
- Analysts suggest that increased demand for Solana tokens may result if more investors are drawn to the platform through the Nasdaq listing.
- Sol Strategies' plans to raise funds and its financial dedication to Solana have drawn comparisons to MicroStrategy's approach to Bitcoin.
- The article discusses technical analysis of SOL's price trends and potential price targets based on current market conditions.
- The post provides insights into the potential impact of Sol Strategies' actions on Solana's price and market dynamics.
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Crypto-News-Flash
2w
135
Image Credit: Crypto-News-Flash
Solana Joins Bitcoin and Ethereum in ICP Integration for Cross-Chain Smart Contracts
- Dfinity’s Internet Computer Protocol (ICP) integrates Solana alongside Bitcoin and Ethereum for cross-chain smart contracts.
- ICP's Chain Fusion technology enables developers to build 'canisters' that interact with Solana without middleman bridges.
- The integration enhances Solana's DeFi potential and allows for decentralized interactions across Bitcoin, Ethereum, and Solana.
- The SOL RPC canister integration marks a significant advancement in cross-chain functionality.
- The upgrade is expected to attract DeFi liquidity and capitalize on Solana's 4.8 million daily active users.
- Price forecasts for Solana in 2025 suggest a potential rise to $400, driven by optimism and technical indicators.
- The integration can strengthen Solana's position, possibly leading to a climb towards $500 under favorable market conditions.
- Despite being a top 6 cryptocurrency, Solana (SOL) is currently priced at $145.30.
- The current SOL price shows a 0.50% daily decline and an 8.54% drop over the past week.
- Solana's strong price base and sizable user community align well with ICP's cross-chain strategy.
- Short-term volatility remains, but long-term prospects for Solana appear strong with ICP-powered interoperability.
- Risks like network congestion or regulatory scrutiny could limit SOL's gains, potentially leading to lows near $250 if bearish trends prevail.
- The news highlights the increasing importance of cross-chain collaboration in the blockchain space.
- The integration of Solana into ICP's ecosystem presents new opportunities for DeFi and smart contract development.
- The article focuses on the market implications for Solana following its integration with ICP.
- The completion of the ICP roadmap's Helium milestone enables seamless interactions between Solana and ICP via the SOL RPC canister.
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Newsbtc
2w
65
Solana Plunges 13%: Can Key On-Chain Support Stop The Fall?
- Solana has decreased by 13% in the past week, reaching a significant on-chain support cluster.
- Glassnode's analysis indicates strong support for Solana between $145 and $147 based on the Cost Basis Distribution metric.
- The data reveals key price zones with substantial token supply, such as $155 to $157 and $164 to $166.
- At the $145 to $147 zone, investors last purchased a total of 13 million SOL, suggesting a critical support level.
- Investors tend to react when retesting their cost basis, with potential buying if retesting from above and panic selling if from below.
- The current retest of the $145 to $147 range from above could lead to buyers supporting Solana's price.
- A potential turnaround could focus on the $155 to $157 resistance range according to Glassnode's analysis.
- Glassnode also highlighted Tron (TRX) finding support at $0.26–$0.27 with over 14 billion TRX held in that range.
- Solana's current price hovers around $145 at the lower end of the support range.
- On-chain support at $145 to $147 could be crucial in preventing further decline for Solana.
- Investors typically react to price retests based on their cost basis, influencing market movements.
- Buyers from the $145 to $147 zone may provide support to Solana during this retest.
- Panic selling could occur if Solana fails to hold the $145 to $147 support zone.
- The $155 to $157 resistance range may be a key area to watch for potential price movement in Solana.
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Bitcoinist
2w
423
Image Credit: Bitcoinist
Asia’s 1st Public Crypto Firm, MemeStrategy, Scores Historic SOL Win
- MemeStrategy, a Hong Kong Stock Exchange-listed firm, purchased 2,440 units of Solana (SOL) for about HKD 2.9 million.
- The average cost per SOL token was HKD 1,191, with the purchase facilitated by OSL Group.
- MemeStrategy plans to leverage Solana's developer base and institutional users to establish a presence in Web3 infrastructure.
- The firm aims to bridge AI, blockchain, and culture by engaging with Solana and exploring new ways to connect apps with real-world finance.
- MemeStrategy intends to run validator nodes on Solana's proof-of-stake network for consistent rewards through staking.
- The company sees staking as a way to generate steady income streams while contributing to securing the blockchain.
- Following the Solana purchase announcement, MemeStrategy's stock price surged by 28% to HKD 2.57 on Monday.
- Investors view the move positively, seeing it as a signal of MemeStrategy's active participation in the crypto space.
- Other firms like DeFi Development Corporation, Upexi Inc., Sol Strategies, and Classover have also added SOL to their treasuries.
- MemeStrategy's initiative marks the first such move by a Hong Kong-listed company in the crypto sector.
- The company's decision to invest in SOL could influence more public firms in Hong Kong to consider similar moves as regulations evolve.
- Monitoring the performance of MemeStrategy's SOL stake may serve as a benchmark for other companies eyeing proof-of-stake tokens.
- This development indicates the growing interest from public companies in integrating crypto assets into their treasuries.
- The market responded positively to MemeStrategy's strategic investment in SOL, highlighting the enthusiasm for prominent entities supporting smart-contract platforms.
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Bitcoinist
2w
253
Image Credit: Bitcoinist
Crypto Platform Pump.fun Slammed As ‘Disease’—Critics Say It ‘Stole’ $741 Million
- Pump.fun, a Solana-based memecoin launchpad, has faced severe criticism for allegedly extracting $741 million in fees from users.
- The platform has reportedly sold around 4.1 million SOL tokens, generating significant revenue.
- Despite handling over $66 billion in trading volume, only a small number of traders have profited significantly, while the majority have not seen substantial gains.
- Critics like Crypto Bitlord have labeled Pump.fun as a 'disease' that has led to significant financial losses and disturbing livestream incidents.
- The platform charges a 0.25% fee on trades and offers a revenue share for token creators, incentivizing quick token dumps.
- Livestream features on Pump.fun have been linked to extreme content and threats, leading to calls for moderation.
- Regulatory pressure is mounting, with X suspending Pump.fun's accounts over concerns like potential securities law violations.
- A lawsuit has accused the platform of selling unregistered securities disguised as meme tokens, jeopardizing future token sale plans.
- The next steps for Pump.fun will be crucial amidst increased scrutiny and challenges from regulators.
- Critics suggest that removing Pump.fun from the internet could benefit the overall crypto ecosystem.
- Social media visibility for Pump.fun has diminished, adding uncertainty to its future operations.
- Traders who invested in Pump.fun are now waiting to see how the platform navigates these legal and reputational challenges.
- The platform's history of extracting fees and limited profits for traders has raised concerns about its intentions and business practices.
- Pump.fun's live-streaming feature has been a source of controversy due to extreme content and threats shared on the platform.
- The platform's revenue generation methods have drawn criticism, with calls for better safeguards for traders and stricter regulations.
- Despite significant trading volume, Pump.fun's reputation has been marred by allegations of misconduct and financial harm to users.
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Bitcoinist
2w
283
Image Credit: Bitcoinist
Spot Solana ETF Appears On DTCC—When SEC Approval?
- VanEck's proposed spot Solana exchange-traded fund (ETF) has appeared on DTCC under the ticker VSOL, indicating operational readiness.
- The DTCC listing signifies assignment of creation/redemption identifiers, trade settlement codes, and clearing eligibility.
- Derivatives markets now price in a 58–60% probability for Solana ETF approval by July 2025.
- Bloomberg analysts forecast a 90% likelihood of eventual approval for the Solana ETF.
- Several asset managers, including Fidelity and Grayscale, have updated their S-1 registrations for alt-coin ETF approval.
- CME Group's launch of cash-settled futures for Solana enhances the macro structure for alt-coin ETFs.
- The SEC's review process for the Solana ETF involves staking language, custody mechanics, and market-manipulation surveillance.
- VanEck's fund is following a similar procedural track to prior Bitcoin and Ether ETF approvals.
- SEC's recent delay of Franklin Templeton's Solana ETF application was expected as part of the iterative process.
- Analysts suggest possible ETF approvals in the coming months, but timelines remain uncertain.
- Current market price for SOL is $145.89.
- VanEck's ETF is positioned for regulatory approval pending SEC review.
- The SEC's ongoing dialogue with ETF issuers is viewed as a positive indicator for potential approvals.
- The market infrastructure is primed for the Solana ETF launch upon regulatory clearance.
- Analysts and stakeholders anticipate potential Solana ETF approvals in the near future, though exact timelines remain unclear.
- The regulatory process for ETF approvals involves detailed discussions on compliance and market dynamics.
- Overall, the appearance of VSOL on DTCC signals a significant advancement towards an eventual Solana ETF launch.
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Livebitcoinnews
3w
375
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VanEck Spot Solana ETF Listed for Prelaunch by DTCC
- VanEck spot Solana ETF tickered as VSOL has been listed for pre-launch by DTCC, indicating potential SEC approval for trading and showcasing institutional readiness for Solana.
- DTCC listing of VSOL under active and pre-launch funds suggests a step towards SEC approval for trading on U.S. exchanges, reflecting growing institutional interest in Solana.
- VSOL ETF will track Solana's price and possibly include staking features, offering investors direct exposure to the cryptocurrency in a regulated vehicle.
- SEC's recent approval of spot Bitcoin and Ethereum ETFs signals broader acceptance of digital assets in traditional finance, setting a positive precedent for Solana ETF approval.
- DTCC's listing aligns with regulatory developments as SEC requests S-1 filing amendments from issuers like VanEck, potentially leading to a stake-inclusion possibility in Solana ETFs.
- Solana's fast transactions and scalability have attracted developers and investors, with Chicago Mercantile Exchange trading Solana futures, strengthening the case for ETF approval.
- Competition in Solana-based investment products intensifies as other companies file spot Solana ETFs, with DTCC recently including Solana futures ETFs, further diversifying investment options.
- Institutional adoption of Solana is on the rise, with a potential VSOL approval offering conventional investors a controlled investment route, fueling market acceptance and potential price increases.
- VanEck's VSOL listing on DTCC signifies a significant step forward in embracing digital assets by traditional banks, backed by the success of Bitcoin and Ethereum ETFs.
- While presence in DTCC list does not guarantee SEC approval, it sets the stage for leveraging Solana's popularity once regulatory approval is obtained, contributing to the growing institutional interest in the cryptocurrency.
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Blockonomi
3w
341
Image Credit: Blockonomi
Solana Bearish Pressure Mounts: Can SOL Price Drop to $60?
- Solana price has dropped 13% in 7 days, testing key support between $120 and $145.
- Analysts warn of a possible drop to $60, seeing a 'dead cat bounce' in SOL price action.
- Trading volume fell by over 16%, indicating weakening market participation.
- $60 is projected as a bearish target if trendline support fails in upcoming sessions.
- Market observers are closely monitoring key support levels for SOL's next major move.
- Technical analysts point to concerning signals for Solana in the current market environment.
- Solana has been trading within an ascending trendline at risk of breakdown, according to analysts.
- Analysts expect more downside for SOL, with a potential drop to $60 from current levels.
- Solana is testing crucial support zones between $120 and $145, with a breakdown likely triggering accelerated selling pressure.
- Trading volume decline coupled with falling prices indicates continued weakness for SOL.
- Veteran trader Matthew Dixon adjusts his strategy, setting a dollar-cost averaging target of around $130 for initial purchases.
- Current market data confirms the bearish outlook on SOL as prices decline and volume decreases.
- SOL price sits at $144.84, showing a 3.17% decline in the past 24 hours.
- Market participants anticipate whether SOL can maintain support levels or drop to $60 based on broader market conditions and sentiment.
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Moneyweb
3w
214
Altcoins resume decline as haven appeal of digital assets fades
- Ether and Solana led declines in cryptocurrencies as concerns about escalating conflict in the Middle East have investors moving away from riskier assets.
- Ether, the second largest cryptocurrency after Bitcoin, fell 8%, while Solana and Cardano also experienced significant declines after rallying on Monday.
- Bitcoin, representing over 60% of the digital asset sector's market value, dropped 3.8% to $104,743, falling in six of the last seven days.
- Investors attribute the altcoin price dip to a mix of macroeconomic uncertainty and market dynamics, influenced by Bitcoin's pullback and escalating geopolitical tensions.
- Over $230 million of long crypto positions were liquidated in the past 12 hours, according to Coinglass data.
- Fears of heightened tensions in the Middle East potentially involving the US have led to a general selloff in stocks and high-risk assets.
- Last week's decline in crypto assets during Israel's airstrikes on Iran challenges the perception of Bitcoin as a haven during turmoil.
- A proposed stablecoin bill to be voted on in Congress today could impact crypto markets positively or negatively.
- Traders anticipate de-risking ahead of key events this week, including the GENIUS bill vote, FOMC decision, and ongoing Iran tensions.
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Livebitcoinnews
3w
48
Image Credit: Livebitcoinnews
MemeStrategy Buys 2,440 Solana, Enters SOL Ecosystem
- MemeStrategy, a Hong Kong-listed digital asset firm, purchased 2,440 Solana (SOL) units, becoming the first HK-listed company to invest in Solana.
- Solana staking will provide MemeStrategy with passive income and blockchain growth opportunities.
- Institutional interest in Solana is increasing globally as more companies adopt the cryptocurrency.
- MemeStrategy's acquisition of Solana through OSL Group aims to diversify its investment portfolio in rapidly developing blockchain technologies.
- The purchase of Solana provides benefits such as exposure to blockchain innovations, staking rewards, and asset diversification for MemeStrategy.
- MemeStrategy foresees advancements in AI, Web3, and tokenization following the investment in Solana.
- OSL Group's involvement in the transaction ensures regulatory compliance and security for MemeStrategy's Solana holdings.
- Businesses globally, including DeFi Development Corporation and Upexi Inc., are incorporating Solana into their treasury assets.
- MemeStrategy's strategic move solidifies its position as an early adopter of digital finance in Asia, aiming to stay ahead through innovation and strategic investments.
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Crypto-News-Flash
3w
113
Image Credit: Crypto-News-Flash
Solana Charts Bullish Path with Golden Cross in Sight and Rebound Building
- Solana (SOL) has shown resilience, bouncing back from recent lows and currently trading at $151.
- Technical analysis suggests a potential golden cross formation on the MACD indicator, signaling likely upward movement.
- The RSI is at 47, nearing the neutral range of 50, indicating increased buyer interest and room for further gains.
- Solana's Balance of Power (BoP) at 0.36 signifies strong buying activity, supporting a positive short-term outlook.
- Institutional support, including Galaxy Digital's substantial investments, boosts confidence in Solana.
- Galaxy Digital's SOL staking has reached 660,000 SOL, totaling $101.01 million, showing a growing commitment to the token.
- Interest from large players like Solana Strategies and others enhances the overall positive sentiment around Solana.
- The possibility of a Solana ETF, with CoinShares filing an application, adds optimism and legitimacy to the token.
- Analysts estimate a 90% chance of the Solana ETF approval, which could impact price momentum positively.
- Solana is eyeing the next resistance at $157.92, with potential further gains if market support continues.
- Failure to maintain demand may lead to a fallback near $142.59, emphasizing the importance of ongoing market interest.
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TheNewsCrypto
3w
153
Solana Primed for Recovery as MACD Golden Cross and Positive BoP Signal Bullish Reversal
- Solana is poised for a potential price reversal following market-wide weakness that pushed SOL to a multi-month low of $140.21.
- Technical indicators show signs of renewed bullish momentum, indicating a possible conclusion to the recent downturn and potential upward movement.
- The Moving Average Convergence Divergence (MACD) indicator on Solana's daily chart approaches a golden cross formation, suggesting a shift towards bullish sentiment.
- MACD crossovers are significant timing indicators used by traders to identify buy or sell signals; a pending golden cross could attract more buying interest.
- Solana's Balance of Power indicator at 0.36 confirms positive buying pressure and renewed demand, indicating potential upward price movement.
- A positive Balance of Power reading suggests buyer dominance in the market, creating upward price pressure.
- The combination of an approaching MACD golden cross and positive Balance of Power sets a favorable technical environment for potential price appreciation.
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TronWeekly
3w
140
Image Credit: TronWeekly
Solana ETF Race Intensifies as CoinShares Files New SEC Application
- CoinShares, a leading digital asset manager in Europe, has filed with the SEC to launch a spot Solana exchange-traded fund (ETF) on Nasdaq, seeking regulated exposure to blockchain assets.
- CoinShares plans to offer direct exposure to Solana's native cryptocurrency by tracking the CME CF Solana–Dollar Reference Rate, with Coinbase Custody Trust and BitGo as custodians for secure asset storage.
- Eight firms, including heavyweight financial institutions like Fidelity and Grayscale, are competing to bring Solana ETFs to U.S. markets, showing significant interest in Solana's high-performance blockchain platform.
- Regulatory uncertainty looms over these ETF applications, with the SEC seeking clarification on operational mechanics like in-kind redemptions and potential inclusion of staking features within the ETF structure.
- Bloomberg analysts estimate a 70% approval chance for Solana ETFs, but decisions may be delayed as the SEC reviews the filings, looking at factors such as network outages, security vulnerabilities, and price volatility.
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Crypto-News-Flash
3w
206
Image Credit: Crypto-News-Flash
Brazil Stock Exchange Debuts DeFi to TradFi With USD-Based Ethereum and Solana Futures
- Brazil's largest stock exchange, B3, has introduced new Ethereum and Solana futures contracts, bridging DeFi with traditional finance.
- These contracts are the first of their kind on B3, with Ethereum futures tied to 0.25% of the asset and Solana futures covering five SOL, both settled monthly in USD.
- The move aims to attract domestic and international investors, following similar offerings in the United States like Solana futures ETF on CME.
- B3's initiative aligns with Brazil's strategy to host regulated digital asset products and may introduce more altcoin futures based on market demand.
- In parallel, B3 reduced its Bitcoin futures size from 0.1 to 0.01 BTC to make it more accessible to local retail investors.
- The adjustment seeks to expand local participation, especially among small-scale traders, amidst the changing tax policies for crypto holders in Brazil.
- B3's efforts position Brazil as a growing player in integrating DeFi assets into regulated finance and potentially adding Bitcoin to the country's Treasury reserve.
- Brazil eyes becoming a hub for regulated crypto investments, with government officials highlighting the importance of a national Bitcoin reserve for economic stability.
- Overall, B3's latest actions signify a significant step towards blending decentralized finance with traditional financial systems in Brazil.
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Crypto-News-Flash
3w
236
Image Credit: Crypto-News-Flash
Solana ‘Makes Sense’ as Treasury Play, Says Cantor — Ethereum Left Behind?
- Cantor Fitzgerald sees Solana as a strong option for corporate treasuries due to its speed and low fees, suggesting it as an alternative to Ethereum.
- They initiated coverage on three public companies - DeFi Development, Upexi, and Sol Strategies - giving them an overweight rating.
- DeFi Development Corp has accumulated a significant amount of SOL, positioning itself well for potential capital raising.
- Upexi acquired a large amount of SOL through private placement and staking, aiming to raise capital with a projected premium.
- Sol Strategies raised funds to acquire SOL and expand their operations through convertible debentures and notes.
- Solana can handle up to 65,000 transactions per second with minimal fees, standing out from Ethereum's scalability.
- Cantor emphasized Solana's growth potential as a full-stack financial operating system with increasing developer activity.
- Despite its momentum, Solana is still more volatile than Bitcoin and holds less total value locked compared to Ethereum.
- Solana currently has around $8.63 billion in assets locked in DeFi protocols, while Ethereum boasts $63.5 billion.
- SOL is trading at about $152, up 8.24% in the last 24 hours, whereas ETH is trading near $2,585, with a 3.41% increase.
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