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Solana Hits $241 as TVL and Institutional Interest Surge

by admin September 13, 2025

Solana (SOL) climbed 5.5% on Friday, reaching a daily peak above $241. This price action, which marks a new high since late January, follows a surge in both institutional capital and decentralized finance (DeFi) activity within the ecosystem.

According to CoinMarketCap, Solana traded at $240.54 at press time, with a 24-hour trading volume of $12.09 billion. The token was up 5.75% in the last 24 hours.

The rally gained traction earlier this week after Forward Industries announced a $1.65 billion PIPE deal led by Galaxy Digital, Jump Crypto, and Multicoin Capital. This news led to a sharp move in SOL’s price above $215, with momentum accelerating further after the deal closed.

Additionally, among them is BIT Mining which revealed the addition of 17,221 SOL to its treasury while preparing to change its NYSE ticker to SOLAI.

Technical Signals Point to Further Gains

On the technical side, analyst More Crypto Online highlighted a bullish setup for Solana on X, stating, “$SOL has formed a bullish cross on the monthly MACD. This aligns well with the bullish projection.”

According to the chart, SOL is currently trading robustly at around $241.42. The key resistance levels are now set at $374.24, $566.26, and $856.81, as indicated by Fibonacci retracement targets. These points could serve as potential selling zones if the rally is sustained.

Additionally, Solana’s DeFi ecosystem has hit a new all-time high. The total value locked (TVL) reached $13.01 billion, as reported by DeFiLlama.

According to the data, the new figure comes after a recovery from 2023 lows and surpasses previous peaks from 2022. With a rise in TVL, usually an increase in user activity and liquidity.

Market Confidence Continues to Build

The rising DeFi activity and institutional investment have contributed to a significant increase in market confidence. Traders on Myriad, a prediction market, have become increasingly bullish. Over the past week, those betting that Solana will hit $250 before dropping to $130 rose from 66% to 89%. The spike in sentiment shows trust in SOL’s upward trajectory.

Rising DeFi activity and institutional investment play a big part in Solana’s recent boom. If buying momentum continues, SOL could test Higher resistance levels.

Also Read: Galaxy Digital Buys $536 Millions in Solana From Binance, Bybit

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September 13, 2025 0 comments

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Top Trader Predicts ‘Monster Candle’ for Ethereum (ETH)

by admin September 13, 2025

Ethereum has caught the attention of one of the market’s most widely followed traders, known as Byzantine General, and the prediction is too hard to ignore: a “monster candle” may be just around the corner.

That is how a pseudonymous analyst with a strong record in the derivatives space captioned a chart of ETH/USDT futures on Binance, quickly sparking discussion across the crypto community and beyond.

Numbers that matter for ETH

Ethereum is trading at around $4,552, holding strong after a rally that took it from below $3,000 earlier this year. In the same chart, one can notice the $5.08 billion total open interest, indicating that traders are keeping large positions open as volatility decreases.

Historically, this kind of market behavior has often been a sign that something big is about to happen sooner rather than later.

Father of Crypto Bills, French Hill, Says Market Structure Effort Should Tweak GENIUS

by admin September 13, 2025

U.S. Representative French Hill is among his House of Representatives colleagues watching from the sidelines as their Digital Asset Market Clarity Act is overhauled by senators, but he and Senator Cynthia Lummis seem to be in agreement that one of the bill’s aims should be to re-cast what Congress already did on stablecoins.

So far, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act is the marquee accomplishment for the crypto industry and its lawmaker allies in Washington. As the new law of the land, federal regulators are already beginning work to implement its oversight of U.S. stablecoin issuers.

But that was a bill authored in the Senate after years of work in the House on similar texts, so when the House passed its Clarity Act this year on crypto market structure, it tied to that bill some changes to GENIUS. The tweaks outlined in Section 512 at the very tail end of that legislation include:

A more detailed section on holding CEOs and chief financial officers legally liable to routinely disclose accurate financial data, adding an annual check from an accounting firm as a backstop for the issuers’ internal controls;
A more detailed prohibition on non-financial companies getting into the stablecoin business;
And assurance that a U.S. investor can “maintain a hardware wallet or software wallet for the purpose of facilitating the individual’s own lawful custody of digital assets,” and can engage in peer-to-peer transactions.

“We just thought these were ways to make GENIUS stronger and better, based on work we’ve done in the House,” Hill said in an appearance this week at CoinDesk’s Policy and Regulation event in Washington.

On the sidelines of that same event, Senator Cynthia Lummis, the staunch crypto advocate who heads the Senate Banking Committee’s digital assets subcommittee, said that she anticipates the Senate’s eventual market structure bill will modify the young stablecoin law. She said she wants to “be very respectful of the House’s amendments.”

“So I do think that there will be some language that changes GENIUS,” she said.

Later, at a Cato Institute event on Thursday, Hill got into the topic again, saying, “I prefer the House version, but we were able to work between the two houses to outline a few changes that we would make to GENIUS, and we put them in the Clarity Act.”

The Senate Banking Committee’s Republicans recently released a draft version of their bill and some senators, including Lummis, still talk about finishing their bill by the end of this month. Though its House counterpart cleared that chamber with a massive bipartisan vote — 308-122 — at least one of the Republicans on that committee, Senator John Kennedy of Louisiana, has expressed reservations about the readiness of the Senate’s work.

While Hill noted that the Senate committee hasn’t been working on these topics as long as the House, “I think they can get this done,” he said. Work teams from both parties in the Senate are toiling away, he said, “and they are collaborating to get to yes.”

The timeline now in mind for crypto advisers in the administration, including Tyler Williams at the Treasury Department, is turning the market structure effort into law by the end of this year — the target currently offered by Lummis.

Read More: Senators Still Hopeful for Crypto Market Structure Law by End of Year

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September 13, 2025 0 comments

GameFi Guides

Coinbase Seeks Sanctions Over SEC’s Missing Texts Episode

by admin September 13, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Coinbase has slammed the US Securities and Exchange Commission (SEC) for a “destroy-and-delay approach” to records, accusing the agency of erasing crucial text messages related to pending crypto litigations

Coinbase Accuses SEC Of ‘Destroying’ Records

On Thursday, crypto exchange Coinbase, through historical research firm History Associates, asked the federal court to “bring the SEC’s secretive policy shifts on crypto to sunlight” with a Freedom of Information Act (FOIA) case.

Coinbase’s CLO, Paul Grewal, explained that the company asked the US District Court for the District of Columbia to address the “gross violation of public trust” that the regulatory agency was recently part of “to ensure it never happens again.”

“The Gensler SEC destroyed documents they were required to preserve and produce. We now have proof from the SEC’s own Inspector General,” Grewal wrote on X, affirming that the regulatory agency “destroyed” key text message records, even though Coinbase had asked for “information about ‘all communications’ within the SEC related to crypto regulatory and enforcement decision-making years ago.”

As reported by Bitcoinist, the Commission was recently under fire after an Office of Inspector General (OIG) report detailed a series of “avoidable” mistakes from the watchdog’s IT department that resulted in the loss of records linked to crypto enforcement actions during Gary Gensler’s tenure, resulting in the loss of the former SEC Chairman’s text messages between 2022 and 2023.

According to the court filing, the SEC “revealed to the world just days ago that the agency has forever stymied public investigation of these issues by flouting FOIA’s mandates and destroying key documents.”

Coinbase’s court case highlighted that the recent report detailed how the Commission has “excluded” SEC officials’ text messages when processing FOIA requests, even if many constituted agency records subject to the request. Additionally, it revealed that the lost Gensler text messages “were destroyed (…) after these FOIA requests were filed, but long before the litigation began.”

The document also alleged that the same has happened to more than 20 other high-ranking SEC officials’ texts, and dozens more have been or could be at imminent risk. “Although the SEC has known of these glaring and urgent problems for two years, none of this was disclosed to this Court or History Associates during 14 months of litigation,” it added.

Holding the SEC To Its Own Standard

Previously, Coinbase’s CLO affirmed that “this isn’t some ‘oops’ moment. This was a destruction of evidence relevant to pending litigation.” Similarly, the filing stated that the SEC can’t claim “no harm, no foul” for running “thirteenth-hour searches” that come “far too late.”

It argued that if the regulatory agency had conducted prompt, proper searches when History Associates first submitted its FOIA requests in July and August 2023, the Commission could have reviewed the records at the time or taken actions to preserve them.

Excerpt of Coinbase’s court document. Source: Paul Grewal

“It may be impossible to reconstruct how many responsive texts have been irretrievably lost due to the SEC’s stonewalling and what critical information will never see daylight as a result. But what is certain is that the SEC’s destroy-and-delay approach to records must end immediately,” the document read.

The case noted that within the last few years, the SEC had imposed over a billion dollars in fines on private parties for similar failures to preserve securities-related text messages and communications while emphasizing that “everybody should play by the same rules” and be held “accountable for violating (…) time-tested record keeping requirements.”

To ensure that the SEC is “held to its own standard” and prevent similar incidents in the future, Coinbase asked the Court to hold a hearing and order appropriate relief, including an expedited proper search for and production of all relevant texts that the agency’s searches did not uncover, discovery to “get to the bottom of the agency’s spoliation,” and all appropriate sanctions.

Bitcoin (BTC) trades at $114,978 in the one-week chart. Source: BTCUSDT on TradingView

Featured Image from NBC News, Chart from TradingView.com

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September 13, 2025 0 comments

GameFi Guides

Winklevoss Twins Call for $1 Million Bitcoin Price as Gemini Goes Public

by admin September 13, 2025

In brief

Crypto entrepreneurs Cameron and Tyler Winklevoss think Bitcoin is still in its early stages.
Tyler Winklevoss said during a CNBC interview that in 10 years, the leading cryptocurrency will be priced at $1 million per coin.
Gemini, the brothers’ crypto exchange, went public on the Nasdaq on Friday.

Crypto entrepreneurs Tyler and Cameron Winklevoss—the founders of the newly public crypto exchange, Gemini—have predicted that Bitcoin will hit a price of $1 million per coin as it “disrupts gold.”

Speaking on CNBC on Friday, Tyler Winklevoss said that the price of the leading cryptocurrency had come a long way since they debuted their crypto exchange more than a decade ago.

He noted that the two spoke on CNBC back in 2015, when the digital coin was trading for $350 per coin. Now it’s trading above $116,000.

“We think there’s easily a 10x from here,” he said. “It’s still really early, and I think we’ll be sitting here 10 years from now looking back and saying, ‘Wow, today was really early.'”

“It’s still very much the bottom of the first inning, because we see Bitcoin trading at $1 million dollars a Bitcoin, if it disrupts gold,” he added. “And we think Bitcoin is gold 2.0.”

Camron and Tyler Winklevoss—arguably best known for their role in the creation of Facebook—founded crypto exchange Gemini in 2014 after being early Bitcoin backers.

Gemini launched its IPO on Friday, pricing the offering at $28 per share. Shares began trading on the Nasdaq Global Select Market under the ticker GEMI on Friday afternoon, with shares trading at $37.01 upon opening, giving the firm a roughly $4.4 billion valuation. As of this writing, the price has dipped to about $34.

New York-based Gemini allows users to buy, sell, and bet on the future price of digital coins and tokens. It also custodies crypto.

Cameron Winklevoss added in Friday’s interview that he believes Bitcoin will serve more as a store-of-value than a payments system. Other prominent backers like Jack Dorsey, co-founder of Block and Twitter, disagree on that front.

“We don’t think it actually has to be a transactional currency—just like you’re not trying to buy a cup of coffee with gold,” he said.

The Winklevoss Twins aren’t the only crypto heavyweights to have made big predictions for the future price of Bitcoin as of late. Fundstrat Global Advisors Managing Partner Tom Lee also this week said that Bitcoin can hit $200,000 by the end of this year.

While BitMex co-founder and billionaire Arthur Hayes has claimed $250,000 for the biggest cryptocurrency is a realistic target in 2025.

Bitcoin was recently trading for $116,507 per coin, according to CoinGecko, up 2% over a 24-hour period. Over the past seven days, the flagship cryptocurrency has risen by more than 5%. Bitcoin sits about 6% below its August all-time high mark of $124,128.

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Polymarket prepares for U.S. debut with $10B funding round

by admin September 13, 2025

Prediction platform Polymarket is preparing for its latest funding round, with the potential to reach a valuation of $10 billion.

Summary

Polymarket is preparing for a U.S. debut with the latest funding round
The company’s valuation could range from $3 billion to $10 billion
Polymarket secured a green light to restart its U.S. operations after Donald Trump Jr. joined its board

Investor interest in blockchain platforms is rising, and crypto firms are seeking to capitalize on it. Global prediction platform Polymarket is preparing for another funding round that could send its valuation to $10 billion. According to a Business Insider report on Friday, Sept. 12, investor interest in the platform is high.

Insiders believe that the company could achieve a valuation of at least $3 billion and as much as $10 billion. In its last funding round, closed in the summer of 2025, the company was valued at $1 billion.

Polymarket prepares for U.S. debut

The news comes as Polymarket prepares for the relaunch of its U.S. operations for the first time since January 2022. At the time, the Commodity Futures Trading Commission charged the firm with offering off-exchange “event-based binary options” without registering.

However, under new management, the CFTC has rescinded its earlier decision. On Sept. 3, Polymarket’s founder, Shayne Coplan, revealed that they had received a green light to once again enable U.S. investors to trade.

Polymarket has been given the green light to go live in the USA by the @CFTC.

Credit to the Commission and Staff for their impressive work. This process has been accomplished in record timing.

Stay tuned https://t.co/NVziTixpqO

— Shayne Coplan 🦅 (@shayne_coplan) September 3, 2025

The news came after Donald Trump Jr joined the company’s advisory board following an investment from 1789 Capital on Aug. 26. The connection to the U.S. president’s son could have given Polymarket the regulatory weight it needed in Washington.

“Polymarket is the largest prediction market in the world, and the U.S. needs access to this important platform,” said Donald Trump Jr. “Polymarket cuts through media spin and so-called ‘expert’ opinion by letting people bet on what they actually believe will happen in the world.”

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September 13, 2025 0 comments

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REX-Osprey Solana Staking ETF Hits $250M as SOL Price Soars

by admin September 13, 2025

The REX-Osprey Solana Staking ETF (SSK) has crossed $250 million in assets under management (AUM) only two months after its debut. REX Shares, the issuer, confirmed in a post on X today, saying that it was reached as of September 11.

The fund was initially launched on July 2 2025, and it’s the first in the United States to combine spot Solana exposure with native on-chain staking rewards. This allowed investors to benefit from both price movements in Solana and staking yield, which is a multiple source of return in a regulated format.

We are proud to announce that the REX-Osprey SOL + Staking ETF (SSK) has surpassed $250 million in AUM as of 9/11/2025 — just months after launching on July 2nd.$SSK is the first U.S. ETF to combine spot $SOL exposure with native, on-chain staking rewards, marking a major step… pic.twitter.com/FsthIwNUcE

— REX Shares (@REXShares) September 12, 2025

REX Shares said this achievement was possible thanks to the support of early investors and noted that it aims to keep building innovative products like this for investors interested in digital assets.

“We are proud to announce that the REX-Osprey SOL + Staking ETF (SSK) has surpassed $250 million in AUM as of 9/11/2025 — just months after launching on July 2nd,” the company said in a post on X.

Meanwhile, the rapid success mirrors Solana’s strong performance in recent months. At the time of writing this report, Solana is trading at $240.18. This is an over 6% surge in 24 hours. Over the last week, the token has surged by 17.8% and has gained 20.7% in the past month

Solana SOL Price Chart | Source: CoinMarketCap

Over a longer timeframe, Solana’s growth trajectory is even more pronounced, with a 76.71% increase over six months and a 27.16% gain year-to-date. Its price has risen 81.32% in the past year, and it is up nearly 493% since its inception.

SOL Derivatives and Interest Adds Momentum

The derivatives market has also added to Solana’s recent momentum. According to Coinglass, futures volume for Solana climbed to $30.85 billion in the past 24 hours, an increase of 13.86% from the previous day.

Solana Derivative Date | Source: Coinglass

Open interest rose 7.45 percent to $16.89 billion, reflecting growing participation from leveraged traders and institutions. With 609.61 million tokens circulating, Solana remains one of the largest blockchain ecosystems by activity and trading volume.

Also Read: Bitcoin Sharks Quietly Add 65,000 BTC in Major Accumulation Spree

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September 13, 2025 0 comments

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$0 Shiba Inu Twist Puts Bears in Vanish Mode, What’s Coming For SHIB?

by admin September 13, 2025

Amid the broad crypto market resurgence, which started about two days ago, Shiba Inu has also flipped to the positive side of the market.

However, the leading memecoin has witnessed an unusual silence in its derivatives market over the last hour, according to data showcased by Coinglass.

The data shows that Shiba Inu experienced a mild, one-sided liquidation on September 12, where it recorded a total liquidation of just $20.87 in one hour. Nonetheless, Shiba Inu delivered a surprising twist in this hourly liquidation trend, as its bears were left with no record to account for.

Specifically, SHIB recorded $0 in short liquidations during the period. This means that the overall liquidation of $20.87 recorded during the period was catered for by only long traders.

Is SHIB momentum still intact?

While situations like this have often had the crypto community speculate bullish outlooks for the concerned cryptocurrency, the trend has only sparked curiosities among market watchers, as they keep a close eye on SHIB’s price action in relation to the unusual derivatives activity.

Notably, the rare setup in Shiba Inu liquidation over the last hour suggests that traders betting against the meme token’s potential upsurge are currently out of play.

Scenarios leading to this situation could be traced to either little-to-no interest in the asset’s derivatives market (which means no short positions were opened at all), or the token’s price action during the period had moved in favour of short positions, causing them to suffer no liquidation during the period.

While the trend signals reduced downward pressure on Shiba Inu, the extremely low long liquidation also highlights that bullish positions remain intact, with only a tiny fraction of bullish traders being wiped out of the market.

Highest Since Just After Powell’s August Jackson Hole Speech

by admin September 13, 2025

The big upside action in major cryptos of late has been in altcoins such as solana SOL$243.43 and dogecoin DOGE$0.2749, with SOL sporting a 17% gain over the past seven days and DOGE a 25% advance. Among the bullish arguments are coming ETFs and newly-formed crypto treasury companies focusing on those two tokens.

Mostly forgotten as investor capital moved elsewhere were the two largest cryptos, but both are catching bids late in the U.S. trading day on Friday.

Bitcoin BTC$116,049.69 is now ahead 2% over the past two hours to $116,600 and ether (ETH) is up 5% to $4,650. Both prices are the highest since the wild action in the third week in August that followed Federal Reserve Chairman Jerome Powell’s Jackson Hole speech.

In that speech, Powell unexpectedly flipped from staunch monetary policy hawk to dove, saying the weakening labor market deserved more attention than the stubbornly high inflation rate.

Interest rate traders reacted quickly, sending odds of a September rate cut from somewhat possible to a sure thing, with only the size — 25 basis points or 50 — left for debate.

In the hours following Powell, bitcoin flew from about $112,000 to more than $117,000 but that paled in comparison to the action in ether.

Below $4,300 ahead of the speech, ETH soared more than 16% in less than 48 hours, nearly cracking $5,000 for the first time ever.

Within hours after that, though, the bull move fell apart, and more, with ETH sliding all the way to about its pre-speech price and bitcoin tumbling all the way down to $107,000 by the end of August.

Next week finally brings the much talked about Fed meeting, and traders universally expect the U.S. central bank to trim its benchmark fed funds rate by 25 basis points to 4%-$4.25%.

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September 13, 2025 0 comments

GameFi Guides

Public Keys: Crypto IPOs Sizzle, Missing Gensler Texts Grizzle

by admin September 12, 2025

In brief

Gemini debuts on Nasdaq with $4.4B valuation, shares up 22.6% amid regulatory drama with CFTC nominee.
Figure launches public trading at $5.3B valuation as crypto lending meets capital markets.
Tokenization gains momentum with BlackRock eyeing ETF tokenization and Nasdaq proposing tokenized stock trading.

Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies.

Gemini’s IPO Pop

Crypto exchange Gemini hit a $4.4 billion valuation on its Nasdaq debut Friday. At the time of writing, the company’s shares—which trade under the GEMI ticker symbol—are hovering around $34. That’s a 22.6% gain from when the stock began trading.

Gemini was founded in 2014 and granted a BitLicense by the New York State Department of Financial Services the following year. The company raised $425 million through its IPO, according to Decrypt calculations based on regulatory filings. Reuters was first to report yesterday that the firm’s IPO was significantly oversubscribed.

But there’s been drama brewing between the company’s founders, Tyler and Cameron Winklevoss, and Commodities and Futures Trading Commission Chair nominee Brian Quintenz.

The CFTC nominee shared screenshots of a July text thread with Tyler on X. The messages show that Quintenz was contacted about a complaint Gemini filed regarding alleged misconduct at the regulator.

Gemini paid $5 million to settle its CFTC lawsuit in January, just a few weeks before the trial was set to begin. But in June, the company’s lawyers filed a complaint alleging the CFTC was wrong to have gone after the exchange in the first place.

“I believe these texts make it clear what they were after from me, and what I refused to promise,” he wrote. “It’s my understanding that after this exchange they contacted the President and asked that my confirmation be paused for reasons other than what is reflected in these texts.”

There were a few people in the thread calling foul on his timing, especially given that his current firm, Andreessen Horowitz, has a large stake in Gemini’s direct competitor, Coinbase.

An Attractive Figure

Gemini is the most recent, but not the only crypto company to make its big public debut this week.

Crypto lender Figure began trading on the Nasdaq under the FIGR ticker Thursday, seeing shares jump 24%. The firm stepped into public trading with an even bigger, $5.3 billion valuation.

Its share price ahead of the closing bell on Friday sits around $33.46, about 33% above its $25 IPO price.

“Our IPO showed what’s possible when blockchain meets capital markets: speed, transparency, efficiency,” the company said Friday on X. “IPO day was a celebration of our people, partners, and the vision driving us forward, and we’re even more excited for what’s next.”

Figure CEO Michael Tannenbaum told Decrypt that the company is showing Wall Street how blockchains can be used to create more efficient markets for real-world assets, while also helping investors better grasp concepts like tokenization.

Tokenization—that is, taking real-world assets such as stocks and creating blockchain-based equivalents—has been getting a lot of buzz lately. According to a recent report in Bloomberg, Blackrock is considering tokenizing its ETFs. No, not just BUIDL, its flagship tokenized fund launched with Securitize in 2024. The scope for this move would be much broader—and bring trillions worth of dollars with it.

Even Nasdaq has expressed interest to the SEC in allowing tokenized stocks to trade on its exchanges. The company proposed that issuers would get to opt in to having tokenized versions of their securities trade.

What Gensler Texts?

Crypto exchange Coinbase has claimed that the SEC has done “irreparable harm” by destroying documents from its Gary Gensler era.

“The Gensler SEC destroyed documents they were required to preserve and produce,” Coinbase Chief Legal Officer Paul Grewal wrote on X Thursday, alongside a link to the court filing. “We now have proof from the SEC’s own Inspector General.”

A report last week by the SEC’s Office of the Inspector General found that nearly a year of then-Chairman Gary Gensler’s text messages were permanently deleted between October 2022 and September 2023.

Coinbase has been pursuing internal SEC documents for a long time through the Freedom of Information Act and sued when the regulator denied its requests.

Other Keys

DAT worked: Newly minted digital asset treasury GameStop notched a Q2 loss in its earnings report—but not as bad as it might have been. The company noted its $500 million worth of Bitcoin increased in value to $528 million by the end of the quarter.

Land of the rising BTC: Japanese Bitcoin treasury Metaplanet wants to raise $1.45 billion to buy more BTC. In the announcement, the company reiterated its laser-eyed thesis by pointing to “elevated levels of national debt, prolonged real negative interest rates, and an ongoing depreciation of the yen.”

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September 12, 2025 0 comments