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Ethereum price rallies on $1.3b ETF inflows, eyes $5k target
NFT Gaming

Ethereum price rallies on $1.3b ETF inflows, eyes $5k target

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Ethereum price is off to a strong start in October, fueled by the so-called ‘Uptober’ rally and surging inflows into exchange-traded funds, as it nears a crucial milestone.

Summary

  • Ethereum price has formed a bullish flag pattern on the daily chart.
  • The Murrey Math Line tool points to a jump to $5,625 soon.
  • Ethereum ETFs are nearing the $15 billion cumulative inflows.

Ethereum ETF inflows near a major milestone

Ethereum (ETH) briefly crossed the $4,500 milestone after jumping by almost 20% from its lowest level in September. This rally may continue in the coming days, as it has formed a rare bullish flag pattern.

Data compiled by SoSoValue shows that spot Ethereum ETFs made a strong rebound this week. These funds saw over $1.3 billion in inflows, a sharp recovery after shedding $795 million in assets the previous week.

The ETFs have now recorded cumulative inflows of $14.42 billion—a figure that may surpass the $15 billion milestone next week if the trend continues.

BlackRock’s ETHA ETF holds the largest market share in the industry. It recorded $206.7 million in inflows on Friday, bringing its total assets under management to $17.8 billion. Fidelity’s FETH has $3.35 billion in assets.

Ethereum ETFs have gained strong momentum this year, supported by the ongoing crypto market rally that pushed Bitcoin (BTC) to a record high.

Inflows surged this week as investors turned to cryptocurrencies as safe-haven assets amid the government shutdown. They also increased following a report by ADP, which showed the labor market weakened in September—losing over 36,000 jobs—and raised expectations of interest rate cuts by the Federal Reserve.

Ethereum price technical analysis 

ETH price chart | Source: crypto.news

The daily chart reveals that ETH has rebounded in recent days, rising from $3,800 in September to over $4,500. It broke through the key resistance level at $4,106, the highest point reached in December of last year.

The coin has now formed a bullish flag pattern, which resembles a hoisted flag. It includes a vertical rally followed by a descending channel that forms the flag portion.

The ETH price is now slightly below the upper boundary of the flag but remains above the strong pivot reversal indicated by the Murrey Math Lines tool.

Therefore, the coin will likely continue rising as bulls target the key resistance level at $5,000. A move above that level could signal further gains toward $5,625.



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Bitcoin
Crypto Trends

Bitcoin HODLer Selling Cooling Off As ETF Inflows Return

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On-chain analytics firm Glassnode has revealed in a report that Bitcoin long-term holder have slowed down distribution after months of selling.

Bitcoin Long-Term Holder Net Position Change Is Now Neutral

In its latest weekly report, Glassnode has talked about how the behavior of the Bitcoin long-term holders has changed recently. The “long-term holders” (LTHs) refer to the BTC investors who have been holding onto their coins since more than 155 days ago.

Statistically, the longer a holder keeps their coins dormant on the blockchain, the less likely they become to sell them at any point. As such, the LTHs with their relatively long holding time are considered to be the diamond hands of the network.

This can make the behavior of this cohort worth keeping an eye on, as shifts in it can have consequences for the cryptocurrency as a whole, considering their standing.

There are many ways to keep track of LTH behavior, with one method being through the Net Position Change metric. This indicator measures, as its name implies, the monthly net change in the Bitcoin supply held by the LTHs as a whole.

Below is the chart for the metric shared by Glassnode that shows the trend in its value over the past year.

Looks like the value of the metric has been negative in recent months | Source: Glassnode’s The Week Onchain – Week 39, 2025

From the graph, it’s visible that the Bitcoin LTH Net Position Change was positive during the first half of 2025, but a shift occurred in July as the indicator flipped into the negative. This implies supply started exiting the cohort.

Something to keep in mind is that while selling from the group can instantly register on the chart, the same isn’t true for buying. When LTH supply rises, it doesn’t mean accumulation is happening in the present, but rather that some buying occurred 155 days ago and those coins have now been held for long enough to become a part of the group.

The LTH distribution continued through August and September, but with the start of October, the Net Position Change has returned back to a neutral value, indicating coins being sold by the group are now being balanced out by tokens maturing past the 155-day cutoff. In other words, their net profit-taking has calmed down.

As the report explains:

This cooling supply pressure suggests that the recent phase of long-term holder profit-taking may be easing, potentially leaving ETFs and new inflows as more decisive drivers of market direction.

The spot exchange-traded funds (ETFs) have also seen a shift recently, as another chart cited by Glassnode shows.

How the netflow related to the US BTC spot ETFs has changed over the last twelve months | Source: Glassnode’s The Week Onchain – Week 39, 2025

As displayed in the graph, the US Bitcoin spot ETFs switched to outflows in late September, but the netflow has once again turned green for these investment vehicles. The analytics firm notes:

Should this renewed demand align with reduced LTH selling, ETFs could provide a stabilizing force, offering a more constructive foundation for price resilience and supporting the conditions needed for a sustainable advance.

BTC Price

At the time of writing, Bitcoin is floating around $119,700, up almost 8% over the last seven days.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView

Featured image from Dall-E, Glassnode.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Bitcoin Spot Liquidity Shrinks: Stablecoin NetFlows Turn Negative Despite ETF Inflows
NFT Gaming

Bitcoin Spot Liquidity Shrinks: Stablecoin NetFlows Turn Negative Despite ETF Inflows

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Bitcoin is pressing higher, pushing above the $115,000 level and edging closer to critical resistance. Momentum has returned to the market, with many traders anticipating a bullish move that could test all-time highs and extend the ongoing bull trend. Optimism is building as Bitcoin’s resilience at elevated levels fuels speculation of another aggressive breakout.

However, not all analysts are convinced that the path ahead is clear. Some caution that risks remain beneath the surface, pointing to worrying signals from liquidity data. Top analyst Axel Adler shared fresh insights showing that the average Stablecoin NetFlow to centralized exchanges has gone negative and has been declining since September 22. This trend suggests that fewer stablecoins are entering exchanges to provide spot liquidity, even as Bitcoin trades at elevated prices.

Stablecoin CEX Netflow | Source: Axel Adler

Declining liquidity can weaken market structure and increase vulnerability to sharper moves, particularly if selling pressure resurfaces. While ETF inflows and strong institutional demand continue to support Bitcoin, the imbalance between reduced stablecoin flows and rising price levels highlights a fragile dynamic. For bulls, holding above $115,000 is essential, but the market’s next phase will depend on whether liquidity returns to sustain a lasting rally.

ETF Inflows Support Bitcoin, But Uptober Needs More Fuel

Top analyst Axel Adler noted that institutional flows remain one of the strongest factors supporting Bitcoin’s price at current levels. Over the last couple of days, ETFs recorded inflows of $947 million, a sizable addition of fresh capital that has provided critical support for the market. These inflows demonstrate that institutional demand for Bitcoin remains robust, even as broader liquidity indicators, such as stablecoin flows, show signs of weakness.

Adler emphasized, however, that while ETF inflows are encouraging, they are not yet sufficient to power a full-fledged Uptober rally. Historically, October has been one of Bitcoin’s strongest months, often marked by outsized gains and aggressive breakouts. But for that momentum to unfold again, Adler argues that the market needs broader confirmation, including stronger spot flows and renewed liquidity entering exchanges. Without that added layer of support, rallies risk losing steam against persistent resistance levels, such as the $117,500 zone that has capped upside moves since the summer.

The timing adds to the importance. With Q4 now underway, investors are looking ahead to what could be a defining stretch for Bitcoin’s bull trend. A breakout above resistance, paired with sustained inflows, would fuel optimism of retesting all-time highs. On the other hand, failure to gather momentum could prolong consolidation and keep traders cautious.

Bitcoin Tests $117,500 Resistance as Q4 Begins

Bitcoin is trading around $116,200, showing strength after recovering from lows near $112,000 earlier this month. On the 3-day chart, price action reveals a series of rebounds that continue to press against the $117,500 resistance zone, highlighted in yellow. This level has been a defining barrier since July, repeatedly rejecting attempts to break higher and marking it as the key level to watch heading into Q4.

BTC reaching critical resistance | Source: BTCUSDT chart on TradingView

The structure still reflects consolidation within a broad range, with $110,000 acting as a firm support base. Meanwhile, the 50-period moving average (blue) is providing short-term guidance, showing Bitcoin holding above it for the first time since the September pullback. The 100-period (green) and 200-period (red) averages remain comfortably below spot price, reinforcing the long-term bullish trend.

For momentum to continue, Bitcoin must decisively clear $117,500 and hold above it, which could open the path toward $120,000 and eventually retests of the summer highs near $125,000. Failure to break out, however, risks extending the consolidation phase, with downside targets at $112,000 and $110,000 once again coming into play.

Featured image from ChatGPT, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Flare debuts FXRP, unlocking new utility for XRP in DeFi
GameFi Guides

Token sees $93m inflows as ETF decision nears

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XRP witnessed significant inflows of over $93 million as digital asset investment products tied to the cryptocurrency bucked the trend that hit top coins last week.

Summary

  • XRP recorded inflows of $93 million as digital asset investment products tied to the altcoin attracted investors.
  • The anticipation around upcoming ETF approvals has helped the surge in inflows.
  • XRP saw significant volumes when the REX-Osprey XRP ETF launched.

As crypto exchange-traded products recorded a total of $812 million in outflows this past week, XRP digital asset investment products attracted inflows.

Crypto asset manager CoinShares reported on Sept. 29 that the global digital-asset ETP market recorded outflows as investor sentiment around Federal Reserve interest-rate cuts took a slight bump amid stronger-than-anticipated U.S. macroeconomic data.

However, as Bitcoin (BTC) saw $719 million in outflows over the week, with price also dipping to under $109,000, XRP (XRP) recorded the second most inflows with its $93 million behind Solana (SOL) with $291 million. 

Both Solana and XRP, the cryptocurrency by Ripple, stood out in terms of inflows amid increased anticipation around exchange-traded funds, CoinShares noted. Investor expectations for a regulatory nod for an XRP ETF have increased in recent weeks, with the market witnessing a significant milestone with the launch of the REX-Osprey XRPR ETF.

As the ETF, filed under the U.S. Securities and Exchange Commission Act of 1940, notched record volumes on the debut day, analysts pointed to approaching deadlines for a SEC decision for top crypto spot ETFs for XRP, Solana, Litecoin and Dogecoin.

Is XRP ETFs set for approval? Check SEC’s generic listing rules

This anticipation rose as the SEC approved proposed rule changes for generic listing standards for ETPs offering spot exposure to commodities, digital assets included.

Approval means exchanges can now list spot ETFs that meet set generic listing rules “without first submitting a proposed rule change to the Commission.”

On Sept. 29, the SEC reportedly asked ETF issuers to withdraw their 19b-4 filings for various ETFs, signaling simplified rules were in action. With XRP among the tokens with futures on exchanges for the past six months, anticipation is that the SEC can greenlight XRP spot ETFs at any time.



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Ethereum
NFT Gaming

Ethereum ETFs Register $557 Million Inflows As BlackRock Leads the Charge

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

According to data from SoSoValue, the Ethereum spot ETFs saw another strong week of bullish trading activity in the third week of September, recording $556.92 million in net inflows. While the figure is slightly below the $637.79 million inflows registered during the second week, the performance underscores sustained investor appetite for Ethereum exposure through regulated institutional vehicles.

Despite the rocky start to the month, marked by $787.74 million in net outflows during the first week of September, Ethereum ETFs have now swung back into positive territory, with a cumulative September net deposit of $406.97 million.

BlackRock Dominates ETF Flows Again

In analyzing the Ethereum ETFs’ performance for the last week, BlackRock’s iShares Ethereum Trust (ETHA) continues to establish itself as the dominant player, after recording an impressive $513.01 million in net inflows, i.e, more than 92% of total ETH ETF inflows. With this momentum, BlackRock’s ETHA now holds $13.40 billion in cumulative inflows and $17.09 billion in net assets under management (AUM), reinforcing its position as the clear market leader.

In usual fashion, other funds lagged well behind in comparison. Grayscale’s Ethereum Mini Trust (ETH) posted a distant second with $17.99 million in net inflows, followed by Fidelity’s FETH with $15.18 million. Other ETFs with significant traction included Grayscale’s legacy ETHE trust, which added $13.60 million, and Bitwise’s ETHW, which attracted $7.52 million.

However, not all funds shared in the positive momentum as VanEck’s ETHV lost $8.16 million while Invesco’s QETH saw a minor $1.73 million in outflows, highlighting uneven performance across the sector. Taken together, all Ethereum ETFs now report $29.64 billion in total net assets, supported by $13.29 billion in cumulative inflows.

The latest numbers demonstrate that despite volatility in ETH spot prices and mixed performance among smaller ETFs, overall institutional demand for Ethereum remains robust. With BlackRock’s ETHA capturing the lion’s share of flows, its performance will likely remain a bellwether for the sector. If sustained, these inflows would continue to position Ethereum ETFs as a central driver of Ethereum’s institutional adoption heading into 2026.

Related Reading: Stocks Over Spot: The Case For Buying Bitcoin Treasury Companies Instead Of BTC

Bitcoin ETFs Record $887 Million

Meanwhile, Bitcoin ETFs also saw remarkable momentum in the third week of September, recording $886.65 million in net inflows, to push the monthly total to $3.48 billion. Similar to its Ethereum ETF counterpart, BlackRock’s iShares Bitcoin Trust (IBIT) dominated the market once again, leading with $866.84 million in aggregate inflows.

At the time of writing, total net assets across all Bitcoin ETFs now stand at $152.31 billion, representing 6.63% of Bitcoin’s total market capitalization. Meanwhile, cumulative inflows have reached $57.72 billion.

ETH trading at $4,477 on the daily chart | Source: ETHUSDT chart on Tradingview.com

Featured image from IQ.Wiki, chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Ethereum gaming network XAI sues Elon Musk's AI company
NFT Gaming

Ethereum price targets $5k as ETH ETF inflows jump by $556m

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Ethereum price pulled back on Saturday, Sep. 20, as the recent bullish momentum stalled. Still, a forming bullish pennant pattern and growing ETH ETF inflows point to a rebound to $5,000.

Summary

  • Despite a temporary slowdown in price movement, Ethereum’s position in the market continues to strengthen. With cumulative ETF inflows now surpassing $13.9 billion, institutional investors are increasingly viewing ETH as a highly liquid alternative asset.
  • The surge in Ethereum stablecoin supply, combined with Ethereum’s dominant role in decentralized finance (DeFi) and its growing total value locked (TVL) of $207 billion, points to a potentially bullish breakout.
  • Ethereum has formed a bullish pennant pattern, setting the stage for a price target of $4,945, and potentially as high as $5,000 if momentum continues. 

ETH ETFs inflows continue

Ethereum (ETH) price rally took a breather as sentiment in the crypto market waned after the Federal Reserve delivered its interest rate decision. 

Still, data show that Ethereum ETFs continued adding assets this week. According to SoSoValue, all spot Ether ETFs added $556 million in assets during the week. 

It was the second consecutive week after these funds added $637 million in the previous one. These flows brought the cumulative inflows to over $13.9 billion. 

BlackRock’s ETHA ETF has had over $13.4 billion in cumulative inflows and now has $17 billion in assets. Grayscale’s ETHE has $4.75 billion, while Fidelity’s FETH has $3.59 billion. 

Ethereum ETFs have been in a fast growth trajectory in the past few months. One possible reason is that American institutional investors see it as a highly liquid alternative asset. 

Also, its inflows jumped after Donald Trump signed the GENIUS Act, which regulated the stablecoin market. Since then, Ethereum stablecoin supply has jumped to over $164 billion. Its adjusted transaction volume soared by 71% to $901 billion in the last 30 days.

Ethereum’s role in the decentralized finance industry has also grown, with the total value locked soaring to $207 billion and the bridged assets hitting $513 billion. 

Ethereum price bullish pennant forms

ETH price chart | Source: crypto.news

The daily timeframe shows that ETH price rally has stalled in the past few weeks. It has remained above the 50-day and 100-day Exponential Moving Average and the key support at $4,106, the highest point in December last year. 

The coin has slowly formed the bullish pennant pattern, which is made up of a vertical line and a symmetrical triangle. It is also above the Ichimoku cloud indicator. 

Therefore, Ethereum price will likely have a strong bullish breakout, with the initial target being at $4,945, the all-time high. A move above that price will point to more gains, potentially to the psychological point at $5,000.



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BTC ETF Inflows Reverse as Fed’s Hawkish Outlook Triggers Market Caution
Crypto Trends

BTC ETF Inflows Reverse as Fed’s Hawkish Outlook Triggers Market Caution

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Spot bitcoin BTC$117,347.57 ETFs saw their first daily outflows in over a week on Wednesday, shedding a net $51.28 million, as investors reacted to the Federal Reserve’s unexpectedly cautious outlook on future policy.

The outflow broke a seven-day streak that had brought in nearly $3 billion. Assets under management remain above $150 billion, according to SoSoValue data, but the tone in markets shifted after Fed Chair Jerome Powell emphasized economic uncertainty and signaled fewer cuts ahead than traders had hoped.

As expected, the Fed lowered its benchmark rate by 25 basis points, bringing it to a range of 4.00% to 4.25%, in its first cut of the year. But the real surprise came from the central bank’s updated projections, which indicated just two more cuts in 2025 and fewer in 2026 than markets had priced in.

In a cautious press conference, Powell warned of “elevated” inflation and rising “downside risks” to employment, striking a tone that left traders wary. Markets interpreted the move as a hawkish cut, triggering a mild pullback in risk assets.

Ethereum ETFs also saw redemptions, with net outflows for a second straight day. Withdrawals amounted to $1.89 million following the exit of $61.7 million the day before.

Cryptocurrency prices edged higher. Bitcoin rose around 0.3% in the last 24 hours while ether moved up 1.7%. The broader CoinDesk 20 (CD20) index rose 2%.



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Shiba Inu (SHIB) to Add Zero, XRP Sees 221% Surge in Fund Inflows, Bitcoin Breaks 15-Year Record
GameFi Guides

Shiba Inu (SHIB) to Add Zero, XRP Sees 221% Surge in Fund Inflows, Bitcoin Breaks 15-Year Record

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XRP investment products see $32.5 million weekly inflows

October XRP ETF countdown intensifies.

  • Massive jump. XRP investment products saw $32.5M in inflows last week.

XRP investment products pulled in $32.5 million last week, more than double the $14.7 million recorded a week earlier, according to CoinShares. That 221% rise makes it one of the standout performers among digital assets, especially as fund inflows across the market picked up again after a quiet start to the month. 

Bitcoin products continue to be the most popular crypto-tied investment opportunity, with $2.4 billion in new money, and Ethereum managed to stop losing funds by adding $645 million. Solana also made $198 million. 

  • Relative strength. While XRP inflows are smaller in absolute terms, its growth rate outpaced most major crypto assets.

In the cut, XRP’s rise looks smaller in dollar terms, but it has a higher growth rate than other currencies. In September alone, XRP products attracted almost $48 million, taking the total for the year to date to $1.45 billion. The total value of assets under management that are linked to XRP is now $2.94 billion. 

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Shiba Inu faces reversal after failed breakout

Shiba Inu might actually add a zero.

  • Failed breakout. SHIB briefly surged above $0.000015 in early September, but quickly lost momentum.

Once again, Shiba Inu has found itself in a precarious position following what seemed to be a bullish breakout. The token experienced a brief surge in value in early September, testing the critical resistance zone around $0.000015. 

However, momentum soon stalled, resulting in a dramatic reversal. Because of the rejection, traders are now more worried that SHIB might drop back to its summer lows or, worse, lose another decimal place if bearish pressure picks up speed.

  • Bearish risk. Traders fear a potential drop back to summer lows.

With the help of rising trading volume, SHIB was able to break out after weeks of consolidation in a tightening wedge pattern. Nevertheless, the rally did not last long. Because of strong selling pressure and the general lack of conviction on the market, the price was unable to hold above the $0.000015 mark.

card

Bitcoin breaks 15-year record in capital inflows

BTC outpaces 15 years of history.

  • Massive spike. Bitcoin added $625B to its realized cap in the last 18 months.

Bitcoin has shattered a 15-year record as recent data analysis reveals Bitcoin added more to its realized cap in the last 18 months ($625 billion) than in its first 15 years, when $435 billion were added.

In a recent tweet, CryptoQuant CEO Ki Young Ju highlighted a comparison of Bitcoin on-chain capital inflows. Between 2009 and 2024, a 15-year time frame, Bitcoin received capital inflows of $435 billion.

Meanwhile, in the last 18 months or 1.5 years, which spanned from 2024 to 2025, Bitcoin added $625 billion in capital inflows. Bitcoin’s realized cap, which values Bitcoin only when it moves, has surpassed $1 trillion, according to the chart.

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GameFi Guides

Bitcoin ETFs Record Strongest Inflows Since July, Push Holdings to New High

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In brief

  • Bitcoin ETPs saw a net inflow of 20,685 BTC last week, driven mostly by U.S. ETFs.
  • The recent uptick in investor risk appetite is driven by rate cut expectations and new crypto IPOs.
  • Despite institutional demand outpacing new Bitcoin supply, realized and implied volatility remain historically low.

Bitcoin exchange-traded products globally logged net inflows of 20,685 BTC last week, the strongest weekly intake since July 22, according to digital assets firm K33 Research.

The renewed momentum lifted U.S. spot bitcoin ETFs’ combined holdings to 1.32 million BTC, surpassing the previous peak set on July 30.

U.S. Bitcoin ETF products contributed nearly 97% of last week’s 20,685 BTC ETP inflows, highlighting the surge in demand ahead of the FOMC meeting. 

Bitcoin ETF inflows “tend to be one of the key determinants of Bitcoin’s performance,” André Dragosch, head of research for Europe at Bitwise Investments, told Decrypt, adding that the “percentage share of Bitcoin’s performance explained by changes in ETP flows” has reached a new all-time high.

Compared with Ethereum ETF flows, “there appears to be a ‘re-rotation’ from Ethereum back to Bitcoin in terms of investor flows,” Dragosch said, citing their data. “Over the past week, flows into Bitcoin ETFs have surpassed new supply growth by a factor of 8.93 times, a key tailwind for Bitcoin’s recent performance.”



Analysts at K33 agree, writing that flows have been a key driver of bitcoin’s strength since ETF approvals earlier last year, and the latest surge signals an acceleration in demand that could underpin further price support.

In the last 30 days, investors accumulated roughly 22,853 BTC via various products, outpacing the new supply of 14,056 BTC. This rising risk appetite for Bitcoin has supported the recent recovery, Bitwise noted in its Monday report.

Fidelity’s FBTC product accounted for a substantial portion of last week’s Bitcoin ETF demand, with its $843 million net inflow representing 36% of the total $2.34 billion recorded across all funds and marking an 18-month high.

While the soft inflation data and rate cut expectations are key drivers, according to Bitwise analysts, the rise in risk appetite was also “underscored by a flurry of major crypto-related IPOs and announcements last week.”

“Still, activity remains tepid and volatility is historically low,” K33 analysts wrote in an investor note on Tuesday.

They pointed to Bitcoin’s seven-day volatility, which hit yearly lows of less than 0.7% last week before rising “modestly” as prices rose above $115,000.

It marks 11 consecutive days of below 1.3% seven-day volatility, the “second-longest such stretch this year,” K33 analysts wrote. 

Bitcoin’s implied volatility, which measures the future market expectations using options data, also remains near a multi-year low. 

“With muted trading activity, high offshore leverage, and no major immediate catalysts beyond Wednesday’s FOMC, directional signals are mixed,” they said.

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Solana’s Alpenglow upgrade vote passes with 98% approval
Crypto Trends

Solana price sees bullish momentum as institutional inflows and DeFi growth accelerate

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Solana recently broke through the $240 resistance level, with institutional investors driving momentum.

Summary

  • Solana is seeing strong momentum, with recent multi-month highs
  • Pantera Capital and Helius are accumulating significant SOL positions
  • DeFi market activity continues to grow, especially for memecoins

Solana has seen renewed momentum, pushing through major resistance levels and drawing attention from institutional buyers. On Tuesday, September 16, SOL traded at $234.85, having corrected from the eight-month high of $249.12 it reached two days earlier.

Despite the correction, Solana’s (SOL) institutional momentum continued. On September 15, Helius Medical Technology unveiled a $500 million treasury strategy, financed through a private equity offering. Notably, the move sent its shares up 140%.

Moreover, on September 16, Dan Morehead, the founder of Pantera Capital, revealed that the investment firm allocated as much as $1.1 billion to SOL. He explained that Solana is the firm’s biggest bet, viewing it as the most promising among blockchain networks.

Solana memecoins see a major rally

At the same time, Solana is seeing a significant uptick in DeFi activity, largely due to memecoins. Solana-based Pump.fun once again broke $1 billion in daily volume, which coincided with a broader rally in the memecoin market.

For instance, Pudgy Penguins (PENGU), currently the largest Solana memecoins, were up 4.0% on September 16. The memecoin reached $0.03381 per coin and a market cap of $2.1 billion. At the same time, Bonk (BONK) was up 3.9%.

With markets expecting Federal Reserve rate cuts to be imminent, risk assets are among the biggest beneficiaries. This applies both to Solana and to memecoins. At the same time, with Bitcoin near its all-time highs, traders are increasingly cycling into altcoins to chase bigger gains.

For Solana, this creates a boon on two levels, both directly through its price and indirectly by boosting its DeFi activity and total value locked.



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