The crypto market is still “very unsure” about which crypto assets to back beyond Bitcoin and Ethereum, according to an executive. The average investor still hasn’t reached a clear consensus on which crypto assets beyond the top two warrant serious attention, according to Anthony Bassili, president of Coinbase Asset Management. “There’s a very, very clear view in the investor community in terms of the right first portfolio is Bitcoin. The next is Bitcoin, Ethereum,” Bassili said during an interview with Cointelegraph at The Bridge conference in New York City on Wednesday. Bassili pointed out that Solana (SOL) is “maybe” the third asset on the radar. “The market is very unsure as to what’s the next asset they want to own after that,” he said, adding that after Solana, there is a “very wide gap” with XRP (XRP). Read more
Forward Industries, which has accumulated more than $1 billion worth of Solana, saw its share price plunge Tuesday morning. Forward Industries, a digital asset–focused company that has built a significant position in Solana as part of its ongoing shift, has authorized a $1 billion share repurchase program — a move aimed at returning value to shareholders as it advances its transition into a digital asset treasury model. The share repurchase program, authorized on Monday, allows Forward Industries to buy back its stock on an ongoing basis through open-market purchases, block trades or privately negotiated transactions, the company announced. Forward said the authorization provides flexibility amid market volatility, though share repurchases are typically aimed at returning value to shareholders by reducing the number of shares outstanding and minimizing dilution. Read more
Bitwise’s Matt Hougan said Solana has good odds of winning a larger share of the stablecoin and tokenization market. Bitwise chief investment officer Matt Hougan says his bullish outlook on layer-1 blockchain Solana stems from two main factors that set it apart from competitors like Ethereum. “I love investments that give me two ways to win,” Hougan said in an X post on Thursday, explaining that Solana (SOL) is making a “bet” the stablecoin and tokenization infrastructure market will grow, and that it will “win an increasing share of that market,” which “seem like good bets to me.” “I think people dramatically underestimate how much and how quickly these technologies will remake markets. It’s easy for me to imagine this market growing by 10x or more,” Hougan added. Read more