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Solana

Solana (SOL) Recovers From Sharp Drop to Hold $140 as Traders Await Next Move

by admin June 21, 2025

Solana’s native token, SOL

, is trading at $140.46, down 1.41% over the past 24 hours, after recovering from a sharp 4.9% decline that took the price from $142.91 to $135.96, according to CoinDesk Research’s technical analysis model. The asset has since stabilized between $140 and $142, with support forming at $140.40.

Solana’s ecosystem continues to grow, with recent announcements including support for wrapped Bitcoin (WBTC) on the network. Analysts remain divided on the outlook, with some pointing to a potential move toward $200, while others expect a retracement to the $123–$135 range.

Technical Analysis Highlights

SOL declined 4.9% from $142.91 to $135.96, establishing a 7.08-point trading range.
The asset recovered to form a consolidation pattern between $140 and $142.
High-volume support appeared at $140.40 during the 13:00 hourBetween 14:32 and 14:37, SOL surged from $140.48 to $141.40.
Selling pressure pushed the price down to $140.32, then to a session low of $140.29.
A descending channel formed with lower highs and lower lowsResistance at $142.65 capped price action twice.
Concentrated selling volume occurred during the 15:10 candle, suggesting near-term bearish sentiment

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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June 21, 2025 0 comments

Solana Etf ‘'90% Likely This Year,” Says Upexi Ceo &Amp; Cso

Crypto Trends

Solana ETF ‘’90% Likely This Year,” Says Upexi CEO & CSO

by admin June 21, 2025

Upexi is betting big on Solana, and they’re not shy about it. In a recent podcast conversation hosted by The Block’s Tim Copeland, Upexi CEO Allan Marshall and CSO Brian Antolin broke down their entire Solana-driven crypto treasury strategy, while also voicing strong support for the long-anticipated spot Solana ETF.

“We’re excited about this,” said Upexi CEO Allan Marshall when asked about the possibility of a spot Solana ETF. “We’re looking at it squarely as a big positive catalyst.”

Solana ETF in 2025?

The conversation quickly shifted to the timeline for a potential spot Solana ETF approval. Marshall didn’t make a firm prediction but hinted at hurdles.

“I think that the staking revenue is actually causing a little issues,” Marshall explained. “What I heard is that how them figuring out how to stake it is causing a little bit of an issue.”

Upexi’s CSO Brian Antolin was more optimistic. “I’ve seen a lot of ETF experts saying, you know, we’re in the 90% range for getting one this year. There were just some headlines out two days ago basically saying that it could happen this month,” he noted. “So we’re hopeful that it will happen sooner rather than later… but just like Allan said, it’s a bit TBD.”

Upexi’s Solana Treasury Strategy

So why did Upexi dive headfirst into Solana in the first place?

“We added the treasury strategy to our business because, as we watched over the years the value MicroStrategy’s created, we were trying to figure ways to bring Upexi into its next stage,” said Marshall. “When we were looking at raising capital and doing something creative, we decided on some sort of treasury strategy… and then us having to meet with GSR and then Brian—what we learned in that relationship was just the value of how it was created.”

That’s where Antolin stepped in with deeper insights.

“Digital asset treasury companies, when done right, can just create an enormous amount of value and might be the best way to invest in a digital asset for a lot of different investors,” Antolin said.

He went on to explain Upexi’s model by drawing parallels with traditional banking.

“If you think about it, a bank will take a deposit, make a loan—they earn the spread between the yield on the loan and the cost of deposits. We’re the exact same way. We raise funds from the capital markets, we invest in Solana, and then we earn the return between—or the spread between—the return on Solana and our cost of capital.”

But it’s more than just buying and holding.

“As Allan mentioned, we are staking our SOL and we’re turning our treasury into this productive asset rather than letting it sit there idle,” Antolin explained. “We are buying locked SOL at a discount for built-in gains for shareholders.”

Antolin emphasized what he calls a “capital markets flywheel.”

“In my opinion, most of this magic actually emanates from… capital markets arbitrage. When the market awards us a premium to the underlying value of our digital assets, we can actually monetize that for the benefit of shareholders,” he said.

Following MicroStrategy’s Playbook, With a Twist

The comparison to MicroStrategy came up more than once. Antolin made it clear that Upexi is not only following the playbook but trying to improve it.

“We’re just basically employing that same model… and actually trying to improve on it,” he said.

So why should Upexi, and others like it, trade at a premium to their digital asset holdings?

That’s part of what Antolin believes makes this Solana strategy so compelling: it’s not just a bet on price appreciation, but on how financial structure and capital efficiency can create long-term shareholder value.

Also Read: Solana Price Crash: ETF Hopes Fade as SOL Breaks $140 Support

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June 21, 2025 0 comments

JD.com’s global stablecoin push aims to shave days off cross-border payments

GameFi Guides

Solana, Aptos tie for top spot in Wyoming’s hunt for WYST stablecoin partner

by admin June 21, 2025

Wyoming’s Stable Token Commission has placed Aptos and Solana at the forefront of its stablecoin initiative. One blockchain failed to meet requirements, sharpening focus on the two finalists.

After narrowing down an initial list of 11 candidates in April, Wyoming’s Stable Token Commission has now identified Solana (SOL) and Aptos (APT) as the top two blockchain networks under consideration for its WYST stablecoin.

The selection process, which included stringent checks on vendor support and technical robustness, saw one network disqualified due to undisclosed compliance concerns. The Commission’s latest update, confirmed by an Aptos post on X on June 20, signals a tightening race between two of crypto’s fastest-growing ecosystems.

The Wyoming Stable Token Commission has placed Aptos as the highest-scoring blockchain candidate for WYST—the first fiat-backed stablecoin issued by a U.S State—tying for 1st place with Solana.

WYST will be deployed using @LayerZero_Core. pic.twitter.com/CMUyRbs4Gq

— Aptos (@Aptos) June 20, 2025

Why Aptos and Solana emerged as frontrunners

Wyoming’s focus on Aptos and Solana for its WYST stablecoin isn’t arbitrary. Both networks deliver on three core requirements the Commission prioritized: high throughput, fast finality, and mature vendor support.

Aptos, born from Meta’s shuttered Diem project, has a unique advantage. The network claims its Block-STM parallel execution engine can handle transactions at high speed while maintaining sub-second finality. This architecture allows the network to scale to hundreds of thousands of transactions per second without compromising security.

Additionally, Aptos leverages Move, a programming language purpose-built for financial applications, which reduces risks such as reentrancy attacks.

Solana, meanwhile, has spent years testing its high-performance architecture in production. Its single, globally shared state enables lightning-fast transactions while keeping fees minimal.

For Wyoming, which needs a stablecoin capable of handling everything from instant tax payments to treasury operations, Solana’s proven throughput and growing institutional adoption made it a natural contender.

Solana already supports WYST test coins on its testnet and has undergone quarterly reviews by the Commission since late 2024, demonstrating its operational readiness. Its deep liquidity and composability across DeFi apps also position it well for seamless integration with existing financial tools.

Aptos, though newer, brings enterprise-friendly features such as on-chain upgradability, allowing for rapid protocol changes without disruptive hard forks. Backed by industry giants like Google Cloud and Microsoft, Aptos has positioned itself as a regulatory-compliant chain, an essential trait for a state-minted digital dollar.

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June 21, 2025 0 comments

NFT Gaming

Solana (SOL) Long Positions Up on Binance: Bullish

by admin June 21, 2025

According to the latest data from Coinglass, traders are heavily favoring long positions for Solana, indicating growing optimism in the market.

The long/short ratio for SOL/USDT on Binance is 3.07, meaning that for every trader betting on a decline, there are more than three traders betting on a price increase. The ratio is even higher on OKX, reaching 3.62.

This marks growing confidence among both retail and institutional participants. Based on accounts, the long/short ratio is 2.89, and based on positions, it stands at 1.96.

Overall, the 24-hour long/short ratio is 0.95, showing a near-parity between long and short positions. However, exchange-specific data paints a more bullish picture for Solana.

Meanwhile, trading volume in the derivatives market has jumped 35%, reaching $13.87 billion. At the same time, open interest has dropped 7.34%, indicating that some traders may be exiting positions, signaling a sentiment shift or profit-taking behavior.

Options volume has increased nearly 50%, now totaling $1.51 million. However, options open interest has declined by over 22%, suggesting traders are opting for short-term bullish strategies rather than long-term hedges.

Sharp rise in liquidations clears up leveraged positions

Liquidation stats offer additional insights. In the past 24 hours, over $30 million worth of positions were liquidated—of which $26.92 million were long liquidations, while shorts lost only $3.5 million.

At first glance, this appears bearish. However, this could reflect a purge of overleveraged positions before a new upward move.

Short-term intervals (1-hour and 4-hour) revealed more long liquidations, but short liquidations remained low (under $200,000), implying fewer active bearish positions or a retreat from shorts before volatility hit.

Solana, XRP and Dogecoin ETF Approvals in 2025 Are a Near Lock, Analysts Say

by admin June 20, 2025

In brief

Top analysts are near-certain that numerous crypto spot ETF applications, including Dogecoin, Solana, and XRP, will be approved by year’s end.
James Seyffart, an ETF analyst at Bloomberg, said the approvals could come next month or by the late fall—but that regardless, the question at hand is now “when not if.”
Other altcoin ETFs expected to begin trading on Wall Street include Litecoin, Cardano, Polkadot, and Avalanche.

Two top Wall Street analysts are confident many top altcoins ETFs will imminently be approved for trading—so confident, they’ve now estimated the likelihood of such spot approvals coming before the end of the year at almost 100%.

Solana, XRP, and Litecoin spot ETFs are near-locks at 95% odds of approval from the U.S. Securities and Exchange Commission by the end of 2025, the analysts, Eric Balchunas and James Seyffart of Bloomberg, wrote Friday.

Dogecoin, Cardano, Polkadot, Hedera, and Avalanche spot ETF applications are also sitting quite pretty, according to the analysts, with 90% chance of approval by year end.

If the above altcoin ETF applications receive an SEC green light in the coming months, then the development would mark a substantial milestone in the history of Wall Street. Thus far, the agency has approved only two categories of crypto spot ETFs: Bitcoin and Ethereum.

The success of those funds has spurred additional demand for crypto-focused ETFs and other related investment products. Spot Bitcoin ETFs now manage well over $100 billion in assets, with BlackRock’s iShares Bitcoin Trust (IBIT) reaching $70 billion in AUM faster than any fund in history, based on company data.

Crypto’s two top tokens have long been considered to belong to a league of their own in terms of legitimacy, stability, and staying power, and even their approval for mainstream trading was no easy feat.

Among the current batch of contenders for spot ETF trading are tokens that have significantly smaller market values and less established reputations than Bitcoin and Ethereum.

Dogecoin, for instance, is the world’s first meme coin; Avalanche is the native token of a network that boasts less than 2% of the total value locked on Ethereum. DOT, the native token of the Polkadot blockchain, boasts a market capitalization of just $5.2 billion, compared to $293 billion for ETH and $2.06 trillion for BTC, according to data provider CoinGecko.

Should spot ETFs of such altcoins begin trading on Wall Street, that would mean that traditional financial institutions and retail investors would be able to gain direct exposure to the tokens, which have historically been volatile. Issuers of spot ETFs actually buy and store the cryptocurrencies represented by the financial products on behalf of clients.

Ric Edelman, founder of the Digital Assets Council of Financial Professionals, told Decrypt it was a foregone conclusion that crypto ETFs would explode as soon as President Donald Trump, who campaigned avidly as a pro-crypto candidate, was reelected last fall.

“It is regarded as inevitable that we’ll see many other single-asset and multi-asset ETFs of digital coins and tokens,” Edelman said. “The Bitcoin and Ethereum ETFs will prove to have been merely the first.”

“And all that’s just the start,” he continued. “Tokenization is underway and once all assets are tokenized, there will be thousands of ETFs, or their tokenized equivalents, launched. It’ll be the biggest explosion of investment opportunities ever.”

The Bloomberg analysts’ confidence that the SEC may soon approve so many crypto ETFs beyond BTC and ETH stems in part from the agency’s openness to engage with requests to list them in recent months—requesting updated details and public comments on numerous applications.

The applications have been filed by several Wall Street firms, ranging from crypto-centric investment managers like Grayscale to TradFi stalwarts including Fidelity and Franklin Templeton.

“Engagement from the SEC is a very positive sign in our opinion,” Bloomberg’s Seyffart said.

Another factor that has likely increased the odds of imminent spot ETF approvals for the altcoins in question is the fact that, in recent months, the CFTC has approved futures markets for all of them. Futures ETFs track the prices of derivatives contracts for assets, but do not involve the actual buying or selling of the underlying asset.

While the Bloomberg analysts are confident that altcoin spot ETFs will garner approvals before the end of the year, the exact timing remains uncertain. Seyffart said they could come in the next month, or perhaps not until the late fall—but that at this point, the question is a “matter of when not if.”

Brian Rudick, chief strategy office at Upexi, a publicly traded Solana-focused treasury company, told Decrypt that while ETF approvals for certain altcoins with lower trading volume may not necessarily result in immediately higher demand for those tokens, Wall Street debuts could have a dramatic price impact on more popular tokens like Solana.

“While demand for ETFs on long-tail alts may not materialize, ETFs based on top assets like Solana will likely see strong inflows and may act as a large positive catalyst for the price of the underlying token,” Rudick said. “Indeed, the spot ETFs were the main reason the price of Bitcoin more than doubled from when BlackRock applied for a spot Bitcoin ETF in mid-2023 through the exceptional inflows over the first six months after launch.”

Edited by James Rubin

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June 20, 2025 0 comments

NewGenIvf to invest $30m in Solana staking strategy

GameFi Guides

Solana highlights 3,200 active devs, $1b+ app revenue for second straight quarter

by admin June 20, 2025

Solana’s network continues to attract strong engagement, with more than $1 billion in app revenue.

Solana (SOL)continues to see strong user engagement. On Friday, the Solana Foundation published its Solana Network Health Report, showcasing its performance in Q2 of 2025. Notably, the app revenue on the network exceeded $1 billion for the second quarter in a row.

Application revenue by chain | Source: Solana Foundation

In Q2, Solana’s app revenue rose compared to Q1—even as application revenue on other major networks declined. In fact, Solana’s app revenue now surpasses the combined total of all other blockchain networks.

This activity also contributed to a sharp rise in validator income, which reached an average quarterly level of $800 million. The peak occurred on Jan. 19, with $56.9 million earned in a single day. At the same time, validator costs have dropped dramatically.

Notably, the breakeven SOL stake required for validators to cover their costs has fallen significantly. Validators now require just 16,000 SOL to break even, down from 50,000 SOL in 2022. According to the Solana Foundation, this reflects substantial improvements in network efficiency.

Solana has also topped the charts in attracting new developers. In 2024, the network drew 7,625 developers, more than any other blockchain, including Ethereum.

Number of new developers exploring different crypto ecosystems | Source: Electric Capital report

Solana Foundation showcases decentralization gains

According to the Solana Foundation, the network has made significant gains in decentralization. The Nakamoto Coefficient, used to measure how decentralized a network is, reached 20 by June. This puts Solana ahead of Ethereum, Sui, and Sei, which have coefficients of 6, 18, and 7, respectively.

Solana validators are also geographically distributed, with no single country or data center controlling more than 33% of the total stake. Germany leads with 23.55%, followed by the U.S. at 17.37%, and the Netherlands at 14.36%.

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June 20, 2025 0 comments

Crypto Trends

Solana DEX Jupiter Suspends DAO Voting for 2025

by admin June 20, 2025

Kash Dhanda, chief operating officer of the Solana-based Jupiter decentralized exchange (DEX), said the protocol will pause governance voting.

In a lengthy Thursday announcement, Dhanda said Jupiter “stands at the edge of an inflection point” and “the window to define the future of DeFi is open, but it won’t stay open for long.”

Dhanda highlighted the need to “be laser-focused on growth,” and said Jupiter was suspending the decentralized autonomous organization (DAO) structure, which he said “isn’t working as intended.”

Dhanda said that DAO votes will be paused until 2026, when it will return “with a fresh approach that unifies, rather than divides.” He claimed that the DAO is “stuck in a negative feedback loop,” slowing execution and creating division in the community.

Suspending DAO voting “will let us all focus on execution, speed, and growth while we rethink how the DAO could best operate.”

Source: Jupiter

Related: Crypto lobby group says SEC should back off regulating most DAOs

DAO paused to prioritize execution

Dhanda said the suspension of DAO voting will not affect active staking rewards, and all previously funded work groups will remain operational. However, no new proposals will be accepted, and the community reserve will remain untouched until voting resumes. The development team will fund community growth with its own operational treasury.

DAO voting will resume next year after Jupiter’s team defines a new process through community engagement. The objective is to find a more productive approach. Dhanda added:

“To repeat: this is not an end to governance, but rather a pause.“

Related: Research DAO claims paralyzed rats recover after spinal cord fix

Follows growing DAO governance backlash

The choice follows Yuga Labs pushing to overhaul the ApeCoin ecosystem with a proposal to shut down the ApeCoin DAO earlier this month. Rather than a pause, this proposal aimed to replace it with a new entity called ApeCo, with the firm’s CEO, Greg Solano, claiming that the DAO has become dysfunctional.

Solano, much like Dhanda, lamented that the DAO slowed development and “devolved into sluggish, noisy and often unserious governance theater.” He concluded that “too many resources have gone to vanity proposals and low-impact initiatives.”

Magazine: Are DAOs overhyped and unworkable? Lessons from the front lines

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June 20, 2025 0 comments

NFT Gaming

Solana Price Falls on Macro Jitters Despite Bullish News From Major SOL HODLer

by admin June 19, 2025

Solana’s native token, SOL

, dropped to $143.38 Tuesday, down 1.21%, closing near the day’s low after failing to hold above $147, according to CoinDesk Research’s technical analysis model.

The weakness came even as the ecosystem drew fresh institutional backing: Canadian blockchain investor Sol Strategies filed with the U.S. Securities and Exchange Commission on June 18 to pursue a Nasdaq listing under the ticker STKE.

While the filing itself is not an immediate market mover, it highlights a growing institutional commitment to Solana’s long-term outlook. Sol Strategies disclosed earlier this month that it holds more than 420,000 SOL, worth over $61 million, and has made SOL the centerpiece of its treasury strategy. The firm is also seeking regulatory approval in Canada to raise up to $1 billion, in addition to an earlier $500 million convertible note issuance in April used to acquire and stake SOL.

Despite these bullish signals, SOL continues to trade defensively. Price action has been confined to a horizontal band for much of the past week, with the most recent breakout attempt above $147.80 failing to generate follow-through. Bears regained control during the final hours of trading, pushing SOL below the $144 psychological support. With price trending below major moving averages and volume tapering off mid-session, sentiment remains fragile even as long-term backing intensifies.

Technical Analysis Highlights

SOL traded in a 24-hour range from $143.23 to $147.80, a 2.83% swing.
Resistance held at $147.80 after a failed breakout during the 22:00 UTC candle on June 18.
Price declined steadily to $143.38, closing near the low after weak recovery attempts.
Sellers were active between 13:46–14:00 UTC, with a drop from $144.62 to $143.38 on strong downside momentum.
The $144–$145 zone remains critical; failure to reclaim it may open a path toward deeper support near $140.

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June 19, 2025 0 comments

GameFi Guides

AI Infrastructure Firm Gradient Bags $10 Million to Develop Protocols on Solana

by admin June 19, 2025

In brief

Gradient raised $10M from Pantera, Multicoin, and HSG to introduce Lattica and Parallax—protocols designed to run AI models across decentralized devices instead of centralized servers.
The system leverages untapped computing power from phones, laptops, and IoT devices, using Solana to coordinate data and payments.
The team says this approach slashes costs, keeps user data local, and pushes back against AI monopolies—but critics say latency and complexity could be roadblocks.

Gradient Network closed a $10 million seed funding round to build what it calls a decentralized AI infrastructure stack, with venture firms Pantera Capital and Multicoin Capital leading the investment alongside HSG (formerly Sequoia Capital China).

The Singapore-based startup plans to use the funds to develop two core protocols—Lattica and Parallax—that would allow artificial intelligence models to run across a distributed network of devices rather than in centralized data centers. The company said both protocols will debut this week.

“We believe intelligence should be a public good, not a corporate asset,” Eric Yang, co-founder of Gradient Network, said in an announcement shared with Decrypt. “This round gives us the momentum to build infrastructure that brings decentralization to the heart of AI.”

The timing arrives as AI companies face mounting criticism over data privacy and the concentration of computational power among a handful of tech giants. Gradient’s approach would tap into unused processing power from smartphones, computers, and other devices to create what could basically be the equivalent of a global, crowdsourced supercomputer.

Lattica functions as a peer-to-peer data communication protocol like Bitcoin or Torrent—think of it as plumbing that moves information between devices without going through central servers. The company said its network of “Sentry Nodes” has already facilitated over 1.6 billion connections across more than 190 regions.

Road to Lattica

Over the past months, our Sentry Node community helped run one of the world’s largest decentralized connectivity experiments with over 1.6B peer-to-peer connections made across 190+ regions.

Today, that network evolves into Lattica.

— Gradient Network (@Gradient_HQ) June 19, 2025

Decentralizing AI

Parallax tackles the problem of how to run massive AI models without massive data centers. The protocol dissects large language models into smaller pieces that can run simultaneously across multiple devices. Instead of sending data to OpenAI’s or Amazon’s servers for processing, Parallax would let the computation happen on a network of participating devices, keeping user data local.

To be sure, critics have raised concerns that coordinating tasks across thousands of devices introduces complexity and that network latency remains a challenge for decentralized systems.

But the company says its distributed approach and technology could slash costs compared to traditional cloud computing while addressing privacy concerns. When AI models run on centralized servers, user queries and data get transmitted to and processed by those servers. Gradient’s system would process data closer to where it’s generated.

Gradient Network operates on Solana’s blockchain, chosen for its high transaction speeds and low costs compared to other networks. The blockchain handles the coordination and payment mechanisms for devices contributing computing power to the network.

The startup joins a growing field of companies attempting to decentralize AI infrastructure. Competitors include SingularityNET, which focuses on creating a marketplace for AI services, the Superintelligence Alliance network and various projects building on different blockchains. Bittensor and Gensyn have pursued similar distributed computing models, though with different technical approaches.

Gradient said it will release additional protocols beyond Lattica and Parallax, though it hasn’t specified what these might include. The company also mentioned plans to publish research papers and open channels for developers to contribute to the project.

Edited by James Rubin

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June 19, 2025 0 comments

GameFi Guides

Solana to Overtake Ethereum, Scaramucci Predicts

by admin June 19, 2025

Solana’s underwhelming year
More Solana bulls

During a recent appearance at the DigiAssets 2025 conference, prominent American investor Anthony Scaramucci predicted that Solana (SOL) would end up flipping Ethereum (ETH) by market cap.

However, Scaramucci is not certain when exactly the flippening could take place.

The two cryptocurrencies are currently valued at $304 billion and $76.5 billion, respectively.

During a February CNBC appearance, Scaramucci said SkyBridge Capital preferred Solana over Ethereum because the former offers faster transactions and lower fees. He previously predicted that Solana could play a major role in tokenization.

Last May, he tweeted that there would be a Solana ETF. This came before VanEck filed with the SEC to launch such a product the following month.

Solana’s underwhelming year

Solana was up by as much as 64% against Ethereum in January while the latter was experiencing severe underperformance against Bitcoin and other major cryptocurrencies. However, Ethereum then managed to regain a lot of ground, with the SOL/ETH pair collapsing by a whopping 25% in May. The widely tracked pair is down another 6% this month. In fact, Solana, which is also known as the main “Ethereum killer,” is actually down against the chief altcoin on a year-to-date basis.

More Solana bulls

Scaramucci is not alone. As reported by U.Today, Qiao Wang of Alliance DAO also predicted that Solana could end up flipping Ethereum due to the fact that the former is on track to become the largest chain for new founders.

Last year, Santiago R Santos, founder of Inversion Capital, also opined that he could not see a compelling reason why Solana should not be worth as much as Ethereum.

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June 19, 2025 0 comments