Latest news with #SOLSOL
Yahoo
15 hours ago
- Business
- Yahoo
Bitcoin Strength Wows Traders After Market Tumble; ETH, DOGE Lead Majors Gains
Bitcoin BTC hovered above $105,000 on Tuesday, marking a steady climb after a sell-off over the weekend and Monday resulted in nearly $1 billion in liquidations, rattling traders. Ether ETH led gains among majors at 4.5%, coming as the blockchain's Foundation restructured staffing to focus on protocol developments in a competitive and crowded network landscape — bumping bullish sentiment for the world's second-largest token. Dogecoin DOGE followed with a 3% rise, with Solana's SOL SOL, Cardano's ADA ADA, XRP XRP, and BNB Chain's BNB BNB adding as much as 2.5%. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market cap, rose 2%. After weeks of gains, bitcoin's latest price action has traders closely watching for signs of a potential cooling-off period. Caution is emerging among some as technical signals hint that the rally may be losing momentum. 'Bitcoin hovering around the $105,000 range is circumstantial natural cooling after a strong rally, with elevated trading volumes followed by sustained interest, now hints at fatigue,' said Ryan Lee, Chief Analyst at Bitget Research, said in a Tuesday update shared with CoinDesk. 'BTC could consolidate between $103,000 and $108,000, with $100,000 acting as psychological support. If that level fails, downside targets near $97,000–$93,000 may be tested,' Lee said. Lee added that on-chain data shows continued whale accumulation, typically a bullish sign that any correction could offer an entry point. For ETH, Lee noted that repeated rejections and long upper wicks around the $2,800 level indicate hesitation. 'Overall strength remains intact, but momentum is capped unless ETH decisively breaks above $2,810,' he said. The bigger picture for BTC remains solid on a macro basis. 'On a YTD basis, BTC remains a strong outperformer on a macro basis and vs equity, though there are short-term signs that we might be up for more challenging times ahead, with OGs and natives continuing to be better sellers and profit takers against mainstream buying,' said Augustine Fan, Head of Insights at SignalPlus, told CoinDesk in a Tuesday message. Geopolitical risks continue to weigh on sentiment. Fresh tariff headlines and a tense trade backdrop between the U.S. and China have traders bracing for more volatility, with key policy deadlines in early July on the radar, Singapore-based QCP Capital said in a market broadcast late Monday. For now, bitcoin is proving its mettle and holding on to the 'top of the pecking order,' the firm ended.
Yahoo
2 days ago
- Business
- Yahoo
DOGE, XRP, SOL Show Price Bottoming as Bitcoin Traders Remain Optimistic
Market watchers say that major tokens are showing signs of bottoming out, even as geopolitical tensions and tariff fears continue to cloud the near-term outlook. Bitcoin BTC hovered around $105,000 in Asian morning hours Monday, slightly changed in the past 24 hours but down 5% over the past week. Ether ETH, XRP XRP, Solana's SOL SOL, Cardano's ADA ADA and dogecoin DOGE showed similar price action in the past 24 hours, with signs of a local bottom near support levels for all these tokens, indicating a potential rebound for intraday traders. 'Bitcoin hovers around $105K as investors remain uncertain about short-term macroeconomic events,' said Nick Ruck, director at LVRG Research. 'Uncertainty around inflation, tariffs, and the US economy slowed bullish trends in crypto, while geopolitical risks have also pushed investors to pull some capital from assets. 'We remain optimistic over the long-term outlook for the crypto industry, with more institutions and users onboarding every day,' Ruck added. Trade tensions continue to weigh on risk sentiment. China said Monday that the U.S. had introduced new discriminatory restrictions on AI chip exports and software sales, and vowed to take measures to defend its backdrop has traders on edge. 'Events over the last weekend showed just how quickly cryptocurrencies could react from even a slight escalation in trade war hostilities,' said Jeff Mei, COO at BTSE, in a Telegram message to CoinDesk. Mei said traders should monitor announcements from both China and the US, as well as a potential escalation in Russia-Ukraine hostilities and several key US economic data releases this week, including the US trade deficit, unemployment numbers, and remarks from various Fed officials. 'Currently macro developments are driving the majority of market movements so it's difficult to predict, but we do see large institutions continuing to build up their crypto exposure so that's a positive sign,' Mei added. Meanwhile, investors have been diversifying into tokens like XRP and SOL, even as Bitcoin's price action has become more aligned with traditional risk assets, which some say adds to the long-term optimism. Kathy Qu, research manager at HashKey Cloud, told CoinDesk on Monday that 'trade policy uncertainty drives capital into high-growth tech stocks, but savvy investors are also diversifying further into crypto, particularly TradFi-friendly assets like Bitcoin and XRP, where ETF optimism grows.' She added that staking and DeFi remain bright spots in the market, with real-world asset tokens seeing strong momentum and Ethereum ETFs poised to benefit from the SEC's staking exemption — a move that's expected to encourage more institutional participation in the DeFi sector. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Dogecoin Dives 9%; Cardano's ADA, SOL Slump 6% as Renewed Tariff Fears Jolt Markets
Dogecoin DOGE nosedived 9%, while Cardano's ADA ADA and Solana's SOL SOL each fell 6% in the past 24 hours as Trump's reinstated tariffs reignited trade tensions. A swift legal reversal saw the U.S. Court of Appeals for the Federal Circuit issue a temporary stay on Wednesday's lower court ruling that had struck down the tariffs, allowing them to remain in place while the government appeals. The tariffs, announced on April 2 and dubbed 'Liberation Day' duties by Trump, target nearly all U.S. trading partners and were imposed under the 1977 International Emergency Economic Powers Act. Bitcoin BTC slid below $106,000 while ether ETH lost the $2,700 mark amid the renewed uncertainty. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market capitalization, fell 4%. 'The price of Bitcoin fell after Trump's tariffs were reinstated by an appeals court, while U.S. GDP figures showed the economy shrank in the first quarter,' said Nick Ruck, director at LVRG Research, in a Telegram message. 'Gold surged higher as jobless claims increased and corporate profits fell. Although the Fed continues to see inflation as a threat, we're optimistic that Bitcoin will rebound as investors look for long-term value holds during volatile market fluctuations,' Ruck added. Market sentiment appeared cautious, with the total crypto market capitalization flat at $3.42 trillion. 'Cryptocurrencies prefer not to notice positive stock market movements as they are related to tariffs and company reports, not money supply,' noted Alex Kuptsikevich, chief market analyst at FxPro, in an email to CoinDesk. 'Bitcoin retreated from the trading range's upper boundary at $110k to its lower boundary at $107K. This rest at previous highs effectively removes the local overheating of the market.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Solana's 18 Month Long Bull Run Against Ether Is Over; XRP Ends Mini-Uptrend
Programmable blockchain Solana is on course to flip its rival and leading smart contract blockchain Ethereum in terms of market capitalization, several observers have said it in recent months. However, for now, Ethereum's native token ether ETH seems to have an upper hand over Solana's SOL SOL , according to technical analysis. The SOL/ETH ratio has dived out of an upward sloping trendline connecting lows in September 2023, June 2024 and December 2024, per data source TradingView. In other words, tables have turned in ETH's favor and the token could outperform SOL in the near-term. Additionally, the weekly chart MACD histogram is printing red, indicating a strengthening of the downside momentum. The immediate support is seen at 0.055 (the Feb. 25 low). The pair needs to move back above the Ichimoku cloud to negate the SOL bearish outlook. Another coin showing a shift in market trend is XRP, the cryptocurrency designed for cross-border payments. XRP has dived out of a bullish ascending channel, marking the recovery from the early April lows near $1.6. The breakdown has exposed support at $2, which acted as floor several times early this year. Should the buyers fail to defend that, a deeper slide to $1.60 could be seen. On the higher side, the recent high of $2.65 is the level to beat for the bulls. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Solana Scores Twin Institutional Wins With $1B Raise and First Public Liquid Staking Strategy
Solana's SOL SOL got a double dose of institutional adoption this week as two publicly traded firms revealed major initiatives centered on the blockchain's ecosystem — one targeting liquid staking, the other aiming to raise up to $1 billion for direct investment. Canada-listed Sol Strategies filed a preliminary base shelf prospectus on Tuesday to offer up to $1 billion in securities, including equity and debt, to deepen its exposure to Solana. There is no immediate plan to raise capital, but the filing provides the firm with flexibility to act quickly on future opportunities. The move comes just weeks after Sol Strategies secured a $500 million convertible note and spent its first $20 million tranche to purchase over 122,000 SOL. Separately, DeFi Development Corp. (Nasdaq: DFDV) said it is adopting liquid staking token (LST) infrastructure developed by Sanctum, becoming the first public company to invest in Solana-based liquid staking tokens (LSTs). Through its new token dfdvSOL, the company will allow users to stake SOL with DeFi Dev's validators while retaining liquidity, enabling participation in DeFi or redemption at any time. Staking refers to locking up tokens (such as SOL) to help run the network and earn rewards in return. Validators are specialized computers that process and verify transactions to maintain the blockchain's security and ensure its smooth operation. The dual moves show growing confidence in Solana's staking and validator infrastructure among corporate players and could mark the early stages of a broader institutional push toward SOL. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
