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MYX Finance price surges again as funding rate points to a crash

by admin September 18, 2025

MYX Finance price went parabolic again as the recent short-squeeze resumed. However, the formation of a double-top pattern and the funding rate point to an eventual crash in the coming days.

Summary

MYX Finance price surged again on Wednesday.
The funding rate plummeted, pointing to more downside in the near term.
It has formed a double-top pattern on the daily chart.

MYX Finance (MYX) came in the spotlight earlier this month as it jumped from $1 to nearly $20 within a days. This surge pushed the token’s fully diluted valuation to over $20 billion.

Some cryptocurrency analysts noted that the surge was likely part of a market manipulation, potentially by insiders. In a post, Bubblemaps said that over 100 active addresses that received 1% of the supply during the airdrop were owned by the same entities, an allegation that its developers denied.

> be MYX Finance
> launch your token
> run an airdrop campaign
> 100 sybil addresses receive 1% of the supply
> go from 0 to $20B FDV overnight
> that 1% is now worth $200M
> people start asking questions
> drop a long, vague GPT-reply
> somehow make things even more suspicious
>… https://t.co/YHlo0Sl8xZ pic.twitter.com/5wujlNHXnm

— Bubblemaps (@bubblemaps) September 9, 2025

Another possible reason for the rally is that the MYX Finance platform is doing relatively well. Data compiled by DeFi Llama shows that the network has handled perpetual futures worth $5 billion this month so far. It handled volume worth $10.3 billion in July, making it one of the biggest players in the perpetual futures industry.

Still, whether the short squeeze is genuine or part of market manipulation, there are reasons why the token will crash soon.

One of them is that the funding rate in the futures market has plummeted to the lowest level since August. A falling funding rate is a sign that investors expect the future price to be lower than where it is today.

Also, the ongoing surge is happening in a low-volume environment, which is risky. CoinGlass data shows that the 24-hour volume was $626 million, much lower than $11 billion on Sep. 9. It was the lowest volume since the initial surge earlier this month.

The ongoing MYX surge also resembles that of OnyxCoin (XCN), which surged by over 2,300% within a few days in January. Since then, the token has plunged by over 76% to the current $0.011.

MYX Finance technical analysis

MYX price chart | Source: crypto.news

The other reason why the MYX price may crash soon is that it has slowly formed the highly bearish double-top chart pattern at $19.13. Its neckline is at $9.92, its lowest level this week. This pattern often leads to more downside over time.

Additionally, the token has become highly overbought, with the Relative Strength Index soaring to 75. In most cases, a highly overbought asset tends to retreat as investors book profits.

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September 18, 2025 0 comments

GameFi Guides

Altcoin Leverage Surges as Traders Brace for Fed Decision

by admin September 16, 2025

In brief

Altcoin open interest has jumped to $38 billion, closing in on Bitcoin’s $40 billion and topping Ethereum’s $30 billion, signaling heightened speculative activity.
Experts warn the leverage buildup could spark liquidations if the Fed’s expected rate cut triggers a shift in sentiment.
Political pressure on Chair Jerome Powell and signs of elevated implied volatility add to expectations of sharp swings in the days ahead.

A surge in leveraged bets on altcoins is beginning to build ahead of a key Federal Reserve policy decision this week, a move that could introduce significant volatility to the crypto markets this month.

Altcoin open interest is now close to surpassing Bitcoin’s, a setup that has historically preceded a drawdown in blue-chip digital assets.

“An uptick in altcoin leverage is the eagerness for alt season,” Stephen Gregory, founder of crypto trading platform Vtrader, told Decrypt.

Gregory pointed to the recent rally for altcoins last week and leveraged bets as evidence for the shifting sentiment.

Open interest for altcoins has swelled from $30 billion on September 1 to $38.6 billion as of Monday, eclipsing Bitcoin’s $40 billion and Ethereum’s $30 billion, according to Coinalyze data.

While open interest does little to provide a directional bias in the way prices move, it can indicate sophisticated traders are positioning themselves ahead of key events.

“People are rotated out of Bitcoin and into alts in the short term,” Gregory said, cautioning that larger traders may be attempting to “front run” the anticipated rate cut on Wednesday.

“The Fed’s rate cut decision could cause retail to assume its bullish while whales lever up on shorts and push a liquidation event,” he said.

Tensions have risen across both traditional and crypto markets over the central bank’s future monetary policy as it fights to remain independent amid pressure from the Trump administration.

President Donald Trump and Treasury Secretary Scott Bessent have previously urged the Fed to reduce its September Funds Rate by as much as 50 basis points, going so far as to call for Fed Chair Jerome Powell’s resignation multiple times this year.

Given the backdrop, traders are now “bracing for potential volatility,” Shawn Young, chief analyst at MEXC Research, told Decrypt.

The analyst pointed to an increase in one-week at-the-money implied volatility and one-week 25-delta skews as evidence of anticipated short-term price movements.

“Given these indicators, we might expect heightened market activity and potential price fluctuations in the coming days,” he said. “Traders should remain vigilant and consider adjusting their strategies to navigate the anticipated volatility.”

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September 16, 2025 0 comments

GameFi Guides

Bittensor Ecosystem Surges With Subnet Expansion, Institutional Access, New Report Says

by admin September 14, 2025

Decentralized artificial intelligence network Bittensor is “hitting escape velocity,” with accelerating growth in subnets, wallets and institutional access, according to the first “State of Bittensor” report from Yuma, an AI-powered e-commerce platform.

The report, which covers the first half of 2025, notes that 77% of consumers now say decentralized AI is more beneficial than Big Tech-controlled systems, according to a Harris Poll commissioned by Digital Currency Group, Yuma’s parent. Nearly half of respondents already use open-source AI tools.

Bittensor is a decentralized, blockchain-based network that aims to create a peer-to-peer marketplace for machine learning. The explosion in the use of AI in the past couple of years spurred many blockchain-native projects to explore how decentralization could help prevent a handful of tech titans from dominating ownership of the enormous datasets that power the technology.

Against that backdrop, Bittensor’s infrastructure is expanding rapidly, with 128 subnets now live, covering use cases from fraud detection to on-device AI, according to Yuma’s report.

Yanez’s MIID subnet, for example, generates synthetic identities to stress-test financial compliance systems. NATIX’s StreetVision crowdsources urban video data from 250,000 drivers to improve maps and autonomous navigation. FLock’s “FLock OFF” subnet develops lightweight language models that run directly on devices using federated learning, keeping data private while scaling through community contribution.

Custody providers including BitGo, Copper and Crypto.com have also joined via Yuma’s validator, demonstrating a degree of institutional interest and laying the groundwork for Bittensor’s long-term growth, the report said.

Metrics reinforce the expansion. In the second quarter, the network recorded 50% subnet growth, 16% miner growth and a 28% increase in non-zero wallets. Staked TAO rose 21.5% while the token’s market cap approached $4 billion by July. Subnet tokens collectively neared $800 million.

Yuma founder and CEO Barry Silbert said Bittensor is “changing the way AI is built and distributed,” adding that Yuma is preparing to introduce Yuma Asset Management to help investors gain exposure to the ecosystem.

With decentralized intelligence moving from niche experiment to functioning infrastructure, Yuma argues adoption is no longer theoretical.

“It’s already underway,” Silbert said.

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September 14, 2025 0 comments

TradFi to increase Bitcoin allocations this year as Bitcoin Hyper surges

NFT Gaming

TradFi Will Increase Bitcoin Allocations This Year, as Bitcoin Hyper Surges

by admin September 14, 2025

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

TradFi is likely to ramp up Bitcoin allocations by the end of the year, says Wall Street vet Jordi Visser.

The statement came during an interview with Anthony Pompiliano, where Visser declared:

Between now and the end of the year, the allocations for Bitcoin for next year, from the traditional finance world, are going to increase. That is going to happen.

—Jordi Visser, Official Youtube Interview

Immediately after the statement, Pompiliano agreed with Visser, stating that ‘all the bears are wrong and they’re going to cry.’

However, Visser recognized that Bitcoin is stalling right now because of the low investor activity and the stagnation in the market as a whole. For Bitcoin to ramp up, it takes increased interest from investors, which Visser thinks it’s coming.

Bitcoin Hyper’s ($HYPER) $15.6M presale will also contribute to Bitcoin’s marathon up the charts, as it promises to give us faster and cheaper Bitcoin transactions.

Q4 Will Mark Bitcoin’s Rebirth

Bitcoin has been stagnating in the $100K-$123K range since last December, with a few occasional dips below $80K. This is likely to change this coming Q4, with Bitcoin seeing increased investor interest and institutional and retail adoption.

Strategy is leading the pack with 638,460 $BTC, valued at over $74B, but it’s not the only one with a growing treasury. According to Bitcoin Treasuries data, public companies hold 1,010,738 $BTC, almost a third of all holdings, currently at 3.71M Bitcoins.

But it’s Strategy that delivers the most impactful punch with the largest Bitcoin reserve in the world by a large margin. By comparison, second place goes to MARA Holdings, with 52,477 $BTC, less than 10% of Strategy’s treasury.

Michael Saylor, Strategy’s co-founder and chair executive, posted yesterday a short but punchy X post with the words ‘Bitcoin is more interesting than the Magnificent 7.’

He then followed it up with another tweet, where he highlighted Strategy’s return compared to the assets under the Mag 7 umbrella and, at 91%, MSTR is the clear winner.

This explains why so many corporations and institutions try to replicate Strategy’s success and it puts Bitcoin’s long-term performance into perspective.

An even more interesting perspective comes through Bitcoin Hyper’s lens, the Layer 2 upgrade that promises to give us a faster and cheaper Bitcoin starting 2026 and onward.

Why Bitcoin Hyper ($HYPER) Promises Faster and Cheaper Bitcoin Transactions

Bitcoin Hyper ($HYPER) tackles one of Bitcoin’s most pressing issues: its native performance limitation. The Bitcoin network is capped at 7 transactions per second (TPS), which causes it to lag behind so many modern ecosystems.

For a clearer perspective, Bitcoin ranks 24th on the list of the fastest blockchains by TPS, Ethereum is 20th with 15 TPS, while Solana is third with almost 900 TPS and a 65,000 theoretical one.

A change is necessary and Hyper is that change.

Bitcoin Hyper relies on several tools to address this problem, with the Canonical Bridge and the Solana Virtual Machine (SVM) being among the most impactful.

The Canonical Bridge mints the users’ Bitcoins into Hyper’s Layer 2 after the Bitcoin Relay Program verifies and confirms incoming transactions.

Users can either use the wrapped Bitcoins on the Hyper layer or withdraw them to Bitcoin’s native network at will.

Together with the Bitcoin Relay Program, the Canonical Bridge achieves several things: near-instant finality, higher scalability, no more network congestion.

Because transactions essentially take place on the ultra-fast Hyper layer, the fee-based priority system, which forced smaller transactions at the end of the line, is also gone. No more waiting for hours for your transaction to go through.

The Solana Virtual Machine complements this system by enabling the lightning-fast execution of smart contracts and DeFi apps, further pushing Bitcoin’s performance to higher standards.

The $HYPER presale is now at over $15.6M, which already makes it one of the most successful presales of 2025.

If you want to invest, now’s the time, given that Bitcoin is about to enter Q4, when it’ll likely experience increased investor activity. $BTC is already testing its $116K price point.

$HYPER is now at $0.012915, but we expect it to hit the markets hard post launch, especially since Hyper aims at a Q4 public listing.

Based on the project’s utility and whitepaper, our price prediction for $HYPER is $0.32 by the end of the year and $1.50 by 2030, with sufficient community support and successful implementation.

So, read our guide on how to buy $HYPER and go to the presale page to secure your spot in the $HYPER train.

This isn’t financial advice. Do your own research (DYOR) and invest wisely.

Authored by Bogdan Patru, Bitcoinist – https://bitcoinist.com/tradfi-to-increase-bitcoin-allocations-this-year-as-bitcoin-hyper-surges

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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September 14, 2025 0 comments

These 4 cryptos could soar as Eric Trump says stop betting against world’s largest cryptos

GameFi Guides

Linea surges as investors buy dip, ecosystem metrics soar

by admin September 14, 2025

Linea’s price surged over 20% on Saturday as investors capitalized on its post-airdrop dip, pushing its market cap above $418 million.

The rebound comes amid a dramatic rise in ecosystem metrics, with total value locked (TVL) hitting a record high of $1.94 billion, driven by key dApps like Aave. Linea (LINEA) is positioning itself to become a dominant force in DeFi, with stablecoin inflows and decentralized exchange volume both showing impressive growth.

The Consensys-created layer-2 network could be entering the markup phase of the Wyckoff Theory, signaling further potential gains.

Summary

Linea price jumped as the total value locked in the network jumped to $1.94 billion.
The DEX volume has jumped to $1.97 billion this month so far.
Data shows that the amount of stablecoins in the network jumped to a record high.

Can Linea position itself as the leading L2 by TVL?

Linea jumped to $0.027, up by 30% from its lowest level this week. This jump brought its market capitalization to over $418 million.

Linea price rose as key metrics on its ecosystem jumped to a record high, a sign of its improving ecosystem. Its total value locked jumped to over $1.94 billion, much higher than the year-to-date low of $147 million.

Aave (AAVE), the biggest player in decentralized finance, has led this growth. Its TVL soared to over $1.1 billion, while its 24-hour fees in the network jumped to over $90,000. The other top dApps in the network are Renzo, Etherex, and Euler.

This growth aligns with Linea’s goal of becoming the biggest layer-2 in terms of DeFi TVL. To achieve that goal, it will need to pass Base and Arbitrum, which have $7 billion and $4 billion in assets.

2026 Goal: Linea positions itself as the leading L2 by TVL and as the premier destination for ETH capital.

Every major financial institution goes onchain, but on credibly neutral platforms, not corporate chains.

— Linea.eth (@LineaBuild) September 12, 2025

Additionally, Linea is becoming a major player in the decentralized exchange industry. dApps in its network handled volume worth $1.97 billion this month so far, slightly lower than the $2 billion they handled last month. These are big numbers for a network that handled just $258 million in July.

The amount of stablecoins on the network is soaring. Its stablecoins jumped by over 1.5% in the last seven days to $298 million, with USD Coin having the most significant market share.

Linea price analysis

Linea price chart | Source: crypto.news

The 30-minute chart shows that the Linea crypto price bottomed at $0.02168, a level it failed to move below after its airdrop. This rebound could be happening as investors buy the dip.

While it is too early to tell, there are signs that it is about to move to the markup phase of the Wyckoff Theory. If this happens, it could jump sharply, potentially to the key resistance level at $0.050, which is about 96% above the current level.

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September 14, 2025 0 comments

Crypto Trends

BTC Price Pulls Back, PENGU Open Interest Surges

by admin September 14, 2025

Bitcoin BTC$115,696.27 pulled back from overnight highs above $116,000 to under $115,000 as the Dollar Index (DXY) remains steady despite expectations of an imminent Fed rate cut.

Analysts remained optimistic saying they expect new lifetime highs in BTC and outsized gains in select few tokens, such as HYPE, SOL and ENA.

Focus has already shifted to smaller names. Tokens such as MYX, HASH, PENGU, PUMP and MNT have carved out price gains in excess of 10% this week.

“The CPI + jobs combo created a classic “good news/bad data” trade: inflation prints higher, but weaker labor data preserves the easing narrative, a net positive for crypto in the near term,” Timothy Misir, head of research, BRN said in an email.

Derivatives Positioning

Open interest in futures tied to the top 10 cryptocurrencies increased 3%-5% in the past 24 hours as strengthening expectations of Fed rate cuts prompt traders to take more risk.
Still, the market does not appear overheated, with annualized perpetual funding rates for major coins continuing to hover around 10%. Positive funding rates indicate a bullish bias among traders. Extremely high values typically signal market froth.
OI in PENGU, one of the best-performing tokens of the past seven days, hit a record high 7.78 billion coins, validating the price rise. Funding rates for the coin are slightly elevated at around 15%.
Smaller tokens, like SKY and PYTH, have deeply negative funding rates, a sign of bias towards bearish, short positions.
CME’s bitcoin futures are finally seeing an uptick in OI, ending a multiweek decline while ether OI has pulled back to a one-month low of 1.78 million ETH. These diverging trends could be a sign of renewed trader focus on BTC. Options OI in BTC and ETH remains elevated at multimonth highs.
On Deribit, BTC and ETH options continue to show a bias toward puts up to the December expiry, despite traders pricing roughly five U.S. interest-rate cuts by July next year.

Token Talk

By Oliver Knight

One of the founders of Thorchain, a decentralized network that allows users to send assets across blockchains, was hacked this week after being duped by a deepfake video call on Zoom.
“Ok so this attack finally manifested itself. Had an old metamask cleaned out,” JPThor wrote on X.
Peckshield noted that $1.2 million was stolen from a Thorchain user, with ZachXBT adding that the perpetrator is linked to North Korean hackers.
Thorchain emerged as one of North Korea’s most popular laundering tools earlier this year; researchers estimated that 80% of the proceeds from a $1.4 billion hack on Bybit had been siphoned through Thorchain and protocols like Vultisig.
The thorchain token (RUNE) is trading around $1.28, having lost 14% of its value in the past month and more than 90% since hitting its March 2024 high of $12.95.
The hack involved a mixture of social engineering and phishing, two techniques that contributed to the $2.5 billion stolen by hackers in the first half of 2025.

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September 14, 2025 0 comments

GameFi Guides

BONE Price Surges 40% After Shibarium Flash Loan Exploit

by admin September 14, 2025

Shiba Inu’s layer-2 network, Shibarium, was hit by a coordinated exploit that saw an attacker use a flash loan to gain control over a validator, drain assets from its bridge and trigger a temporary shutdown of staking operations.

The attacker, according to Shibarium developer Kaal Dhariya, bought 4.6 million BONE, the governance token of Shiba Inu’s layer-2 network, using a flash loan. The attacker then gained access to validator signing keys to achieve the majority validator power.

With that power, the attacker signed a fraudulent network state and siphoned assets from the Shibarium bridge, which connects it to the Ethereum network.

Since the BONE is still staked and subject to an unstaking delay, the funds remain locked, giving developers a narrow window to respond and freeze the funds, Dhariya said.

The Shibarium team has now paused all stake and unstake functionality, moved remaining funds into a hardware wallet protected by a 6-of-9 multisig setup and launched an internal investigation.

It’s still unclear whether the breach stemmed from a compromised server or a developer machine. While total losses haven’t been advanced, transaction data suggests they’re near $3 million.

The team is working with security firms Hexens, Seal 911 and PeckShield, and has alerted law enforcement. But developers also extended a peace offering to the attacker.

“Authorities have been contacted. However, we are open to negotiating in good faith with the attacker: if the funds are returned, we will not press any charges and are willing to consider a small bounty,” Dhariya wrote on X.

The price of BONE jumped immediately after the attack and at one point saw its value more than double, before a correction saw it move to a gain of around 40% since the exploit. SHIB is up more than 8%.

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September 14, 2025 0 comments

GameFi Guides

MYX Surges 23% as Altcoins DOGE and SOL Gain

by admin September 13, 2025

The crypto market is in green today even as investors settle for the weekend. Currently, major tokens are up an average of 2-5% in 24 hours. As a result of that, the overall market capitalization has increased by 1.59% to $4.02 trillion, almost hitting its all time high of $4.05 trillion set in July.

DOGE & SOL Surge 6% in 24 Hours

Dogecoin (DOGE) and Solana (SOL), both ranked within the top 20 cryptocurrencies by market capitalization, saw their prices spike by 6% each over the last 24 hours, according to data from CoinMarketCap.

At the time of writing this report, DOGE is trading for $0.2638, up from a daily low of $0.2493 during the Asian trading session. Meanwhile, DOGE’s market capitalization increased to $39.82 billion, despite a 1.58% drop in trading activity to $3.73 billion.

SOL is currently trading for $239.29. Over the last 24 hours, the token has experienced a 33% surge in trading activity, which led to $12.01 billion. The token saw momentum during the Asian session when it was trading $234, then surged $241 before dropping a brief.

MYX Finance Surge 23% from Previous Day

MYX Finance (MYX) saw the most gains, climbing over 23% over the same period. The price surge was accompanied by a 23% increase in trading activity, which resulted in a trading volume of $3.54 billion.

Meanwhile, the token initially saw a drop during the Asian trading hours, when it dipped down to $10.5, before surging back up during the New York session to trade at $18.08.

Market Sentiment

The recent price action aligns with a shift in investor sentiment toward altcoins. According to the Altcoin Season Index, sentiment has moved to 67%, indicating that traders are increasingly focusing on non-Bitcoin cryptocurrencies. This sentiment shift comes even as the overall market sentiment, as measured by the Fear and Greed Index, remains neutral at 50%.

The market rally occurred alongside a period of significant liquidations from leveraged trading. According to data from Coinglass, a total of 105,839 trades were liquidated yesterday, resulting in $286.24 million in total liquidations.

Long-position traders, who bet on rising prices, were liquidated for $67.45 million, while short-position traders, who bet on falling prices, saw $218.94 million in liquidations, suggesting a sharp, unexpected price move upwards.

Also Read: Gemini Space Station Prices IPO at $28 per Share

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September 13, 2025 0 comments

GameFi Guides

Gemini Stock ($GEMI) Surges 14% on IPO Debut; Winklevoss Brothers Predict $1M Bitcoin

by admin September 13, 2025

Gemini Space Station, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, surged in its Nasdaq debut Friday after raising $425 million in an initial public offering.

The company priced its IPO late Thursday at $28 a share, valuing Gemini at about $3.3 billion before trading began. That price was above the revised $24 to $26 range it set earlier in the week and well above the initial $17 to $19 range. The offering covered 15.2 million shares.

On Friday, the stock opened at $37.01, a 32% premium to the offer price. Shares climbed as high as $45.89 during intraday trading before settling at $32, still 14% above the IPO level by the close.

Gemini, headquartered in New York, operates a suite of crypto services including a spot exchange, custody solutions for institutions, a U.S. dollar-backed stablecoin, a crypto rewards credit card, and staking products. As of the end of July, the company held more than $21 billion of assets on its platform. Filings show Gemini lost $159 million in 2024 and $283 million in the first half of 2025.

The Winklevoss brothers, who became the first bitcoin billionaires after early investments in the cryptocurrency, appeared on CNBC’s “Squawk Box” on the morning of the IPO. Tyler Winklevoss described bitcoin as “gold 2.0” and said adoption remains in the “first inning.” He and his brother projected that bitcoin could reach $1 million within the next decade.

Gemini’s listing follows those of Coinbase (COIN) in April 2021 and Bullish (BLSH), which owns CoinDesk, last month.

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September 13, 2025 0 comments

NFT Gaming

Solana Surges Again as Galaxy Digital Buys Over $700 Million in SOL

by admin September 13, 2025

In brief

Galaxy Digital has purchased more than $700 million worth of Solana since Wednesday, on-chain data shows.
The buys are likely tied to Galaxy’s backing of Forward Industries, poised to be the largest Solana treasury firm.
Solana hit its highest price since January on Friday, topping $241 and rising 19% in the last week.

Investment firm Galaxy Digital has purchased over $700 million in Solana within the past two days, as part of its investment in SOL treasury firm Forward Industries. And the price of Solana has continued to rise, all the while.

Galaxy has been transferring SOL mostly from Binance—and also from Coinbase—across multiple transactions, with data from Arkham Intelligence indicating that it has bought just over 3 million SOL since Wednesday.

The asset manager may be making these purchases on behalf of Forward Industries, in which it has led a $1.65 billion investment, with participation from Jump Crypto and Multicoin Capital.

Incorporated in 1961, Forward is a Nasdaq-listed product design company that’s using the proceeds of this week’s raise to build what will be the world’s largest publicly traded Solana treasury, with Galaxy responsible for acquiring and transferring the bulk of the SOL.

Galaxy’s collaboration with the firm comes as it takes a keener interest in Solana, which it described as “uniquely positioned to power the next generation of capital markets” in a tweet announcing its investment.

Galaxy founder and CEO Mike Novogratz also discussed the merits of Solana in an interview with CNBC’s Squawk Box on Thursday, declaring that Solana’s blockchain can process “14 billion transactions” per day.

Summarizing why Galaxy is excited about Solana, he said, “You’ve got a blockchain that’s now fast enough, tailor-made to be the blockchain for financial markets.”

He then referred to remarks made by SEC Chair Paul Atkins, who on Wednesday gave a keynote speech in which he discussed the agency’s Project Crypto push—its “sweeping initiative” to encourage “our markets to move on-chain.”

And because of the alignment of these two factors, Novogratz affirmed that he’s calling the current period “the season of SOL.”

This belief in Solana is reflected in the sheer size of Forward Industries’ $1.65 billion raise, in which Galaxy has taken a leading role. And such belief may ultimately have a snowball effect, with Solflare co-CEO and co-founder Vidor Gencel telling Decrypt that it’s a “clear signal” of institutional conviction in Solana.

“Nearly triple the size of the largest existing Solana treasury, this move marks one of the largest institutional bets on Solana to date, underscoring growing confidence among traditional companies in SOL’s long-term value—and we are already seeing the market position ahead of potential inflows,” he said.

Solana is currently up by 6% in the past 24 hours, rising above $241 for the first time since January on the back of Forward’s announcement of its completed $1.65 billion raise. SOL has risen by nearly 19% over the last week, making it the second-biggest gainer among the top 10 assets by market cap, behind Dogecoin.

According to Gencel, Galaxy’s focus on Solana is a sign that SOL is now being “seriously considered” as a treasury asset for institutions, whereas only Bitcoin and Ethereum had been major contenders.

Other industry figures agree that Galaxy’s new interest in the altcoin is a strong signal to other institutions that Solana is investable at scale.

“The network is seeing record activity, DeFi TVL growth, and major ecosystem traction,” said Satraj Bambra, co-founder and CEO of trading platform Rails. “This isn’t just a trade—it’s a vote of confidence that Solana will be a core layer of the crypto economy going forward.”

This could have a big impact on SOL’s price going forward, with Bambra suggesting that Galaxy’s purchase “kicks off a flywheel.” He added that potential Solana ETFs, which are awaiting SEC approval, “could open the floodgates for new demand.”

When combined with approaching upgrades such as Firedancer—a new validator client that will boost Solana’s throughput and improve network stability—the approval of SOL ETFs could be a major catalyst.

“Near-term, I see SOL tracking flows and ETF headlines; long-term, it’s about usage growth and cementing itself as a top-3 asset,” Bambra concluded.

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September 13, 2025 0 comments