SOL analysts highlighted the potential of its price to surge to $400 and beyond, fueled by the launch of the first Solana ETF in the United States. Key takeaways: Solana continued its mainstream adoption with the launch of the Bitwise Solana Staking ETF. SOL price bull flag pattern targets more than 100% rally to $412. Read more
Bloomberg analyst Eric Balchunas says exchanges have posted listing notices for Bitwise’s Solana ETF and Canary’s Litecoin and Hedera funds. Crypto markets may see another wave of exchange-traded fund debuts this week, with Solana, Litecoin and HBAR funds appearing in US exchange listings ahead of a potential launch on Tuesday. According to Bloomberg analyst Eric Balchunas, US exchange listing notices have appeared for Bitwise’s Solana (SOL) ETF and Canary’s Litecoin (LTC) and Hedera (HBAR) ETFs, with the funds slated to go live on Tuesday. In an X post on Monday, Balchunas said Grayscale’s Solana Trust is expected to convert to an ETF the following day. Read more
Ethereum layer-2 networks have glaring security and centralization issues, according to Anatoly Yakovenko, co-founder of the Solana blockchain. Solana co-founder Anatoly Yakovenko cast doubt on the decentralization and security of Ethereum’s layer-2 (L2) scaling networks during a heated debate on Sunday. Layer-2 scaling networks feature a huge attack surface and code bases so large that they cannot be properly audited for software bugs. User funds can also be shifted from L2s, which rely on multi-signature custody, without the users' consent, Yakovenko added. ‘The claim that layer-2s inherit ETH security is erroneous,’ Yakovenko said during the debate. He argued: The conversation surrounding Ethereum’s layer-2 scaling networks continues, as developers, investors, and industry executives debate whether the layer-2 networks benefit the Ethereum layer-1 blockchain or hurt it. Read more
The addition of SOL comes amid growing institutional interest in the Solana network, as the community positions it as the hub of internet capital markets. Fidelity, a financial services company, has added Solana trading to its platform, making the network’s native token available to both institutional and retail clients. Solana (SOL) is now available to buy, sell, and trade on Fidelity Crypto, Fidelity Crypto for IRAs, Fidelity Crypto for Wealth Managers, and Fidelity Digital Assets’ platform for institutional investors, a spokesperson confirmed to Cointelegraph on Thursday. The spokesperson added: The added support for SOL signals that cryptocurrencies are maturing as an asset class, further reducing the gap between legacy and digital finance. Read more
Ken Griffin and Citadel disclosed multimillion-dollar stakes in DeFi Development Corp., signaling rising institutional interest in Solana-linked assets. Ken Griffin, the billionaire founder and CEO of Citadel, has disclosed a 4.5% stake in DeFi Development Corp. (DFDV), a digital asset treasury company focused on accumulating Solana. According to a Schedule 13G filing with the US Securities and Exchange Commission (SEC), Griffin holds just over 1.3 million shares, representing about 4.5% of DeFi Development’s outstanding common stock. Separately, Citadel Advisors LLC and affiliated entities reported ownership of 800,000 DFDV shares, or roughly 2.7% of the company’s outstanding stock. Read more
The plans for the new perpetual DEX come two months after a VanEck report highlighted Hyperliquid’s growth on the expense of Solana and other large chains. Solana Labs co-founder and CEO Anatoly Yakovenko is the latest crypto founder to announce plans for a decentralized exchange (DEX), following the success of Hyperliquid and Astar. On Monday, Yakovenko uploaded plans outlining a new sharded perpetual exchange protocol on the Solana blockchain, dubbed Percolator. A perpetual exchange is a decentralized trading protocol for perpetual futures contracts, which allows traders to speculate on cryptocurrency prices without an expiration date. Read more
Decentralized exchange Uniswap has integrated with Jupiter’s Ultra API, making over a million Solana tokens available on its web app. Decentralized exchange giant Uniswap has added support for the Solana network to its web app, enabling users to link their Solana wallet and trade Solana-based tokens alongside those from other networks. The company stated in a blog post that it is exploring bridging, crosschain swaps and full Uniswap Wallet support for Solana. Solana transactions made via the web app will be routed through the Solana DEX aggregator Jupiter, with its pseudonymous co-founder SIONG stating that Uniswap is the first major partner to utilize the Jupiter Ultra API for swaps. Read more
The investment deepens a16z’s exposure to Solana’s liquid staking ecosystem as US regulators begin clarifying how such products fit into securities law. A16z Crypto, the blockchain investment arm of venture capital firm Andreessen Horowitz, has invested $50 million in Jito, a liquid staking protocol that underpins the Solana network. The deal will grant a16z an undisclosed allotment of Jito’s native tokens at a discounted rate, according to a Fortune report Thursday. Brian Smith, executive director of the Jito Foundation, told Cointelegraph that the Jito Foundation has “an exceptionally long time horizon,” and the investment “will allow the Foundation to work to make Solana the home for internet capital markets well into the next decade.” Read more
Omnichain versions of Tether’s USDT and XAUT go live on Solana via Legacy Mesh, linking digital dollars and gold across blockchains. Omnichain versions of Tether’s stablecoin USDt (USDT) and Tether Gold (XAUT) are now available on Solana through Legacy Mesh, an interoperability network built on LayerZero that connects native stablecoin liquidity across multiple blockchains; this could position Solana as a competitive settlement layer for onchain finance and real-world assets (RWAs). The deployment of USDT0 and XAUT0 effectively brings Tether’s digital dollar and tokenized gold to Solana, potentially merging stablecoin liquidity with real-world asset use cases. Unlike Tether’s USDT stablecoin, USDT0 is not issued by Tether. Instead, it is part of a third-party omnichain liquidity network designed to unify existing native USDT liquidity across multiple blockchains. As such, Solana integration potentially strengthens Tether’s omnichain footprint, following earlier USDT0 deployments on Ethereum, OP Superchain, Po...