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In the cryptocurrency market, most major assets are maintaining a weak technical outlook as pressure continues on XRP, SHIB, and Bitcoin. Despite attempts at short-term rebounds, the overall downward trend remains dominant for many leading coins. However, Solana is distinguishing itself with greater resilience following the recent corrections, outpacing its peers with a more stable chart.

Technical weakness dominates XRP and SHIBXRP, which spent months flatlining between $1.30 and $1.50, has broken down below this range, accelerating its decline. This break confirms a bearish continuation pattern, bringing prices perilously close to the psychologically significant $1.00 support. Technical indicators show that XRP remains under intense selling, with prices well below the 50, 100, and 200 day moving averages.

The critical level to watch for XRP is the $1.00 threshold. A decisive drop below this support could unleash a fresh wave of selling.

The relative strength index (RSI) has dropped to 32, edging near the oversold territory. While this may suggest the pace of the downturn could slow, it’s generally insufficient on its own to signal a lasting bottom amid such strong bearish momentum. Should buyers hold the $1.00 area, a recovery toward the $1.14–$1.15 band, where the 50 day exponential moving average lies, could materialize.

SHIB exhibits a similarly bearish pattern, recently breaking below a rising wedge formation. This setup typically signals further downward moves, and SHIB has failed to show any meaningful recovery since. Like XRP, SHIB is trading below all main moving averages and remains near its recent local lows.

The 50 day EMA continues to act as dynamic resistance for SHIB, and recent bounce attempts have not seen a convincing rise in trading volume. This hints that buyers have yet to assert real power. The RSI has dropped sharply to 21, deeply into oversold territory. Still, overall momentum remains with the sellers.

Bitcoin grapples to hold its support regionBitcoin is struggling to stay above the $60,000 level, remaining under intense pressure. The crucial uptrend line that fueled the market’s April and May rebound has now been broken, signaling that the medium-term bullish structure has given way to renewed bearish control. The 50, 100, and 200 day moving averages all sit well above current price levels, reinforcing this negative outlook.

The most critical support for Bitcoin lies between $58,000 and $60,000. Losing this zone could spark a surge in forced liquidations.

Increasing volumes during the recent correction phase point to direct selling pressure, rather than simply a lack of buying. Bitcoin’s RSI hovers near 32, suggesting a short-term rebound may be possible. However, unless prices reclaim the 50 day EMA around $64,000, the primary trend remains challenged.

AssetCritical supportInitial resistanceRSIXRP$1.00$1.14 to $1.1532Bitcoin$58,000 to $60,000Around $64,00032Solana$63 to $65$72 then around $7749Solana stands out with relative strengthIn contrast, Solana is displaying more resilience compared to Bitcoin. Following a steep pullback at the start of June, buyers stepped in forcefully at the $63 to $65 support, helping the price remain above regional lows. The long-term structure is not yet entirely bullish, as SOL also trades under all major moving averages.

However, Solana’s price is now stabilizing near the 50 day EMA around $72 and forming higher lows. This divergence is seen as a positive signal, especially as most other top cryptocurrencies are hitting new local lows. The RSI has climbed back up to 49, suggesting selling pressure has notably subsided.

Solana’s attempted recoveries have translated into rising trading volumes, a sign of strengthening buyer interest. In the short term, holding $72 as support will be critical. Success there could see a move towards the 100 day moving average near $77. If Solana fails to maintain its current level, the $63 support will once again come into focus.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

PANews June 29 news, according to an official announcement from Colosseum, the Solana Frontier hackathon attracted over 10,000 participants who submitted 2,857 final projects, making it the largest crypto hackathon to date. The overall champion is CrowdBrain AI, a vertically integrated robotic DePIN network that provides remote operation, data collection, and fault recovery services for real robots through simulation training and QA qualification certification.

The top 25 winning projects span multiple tracks including consumer investment applications, social trading, prediction market structured products, on-chain forex, RWA platforms, TCG markets, DeFi yield search engines, stablecoin cross-border payments, and supply chain solutions. They are: AI-driven portfolio app Peaks, social trading app Alpha Group Trading, opportunity market platform Bench, prediction market Mentioned, AI agent payment analytics platform Flovia, prediction market structured product Senthos, on-chain forex platform Dropset, fantasy sports platform WeLikeSports, RWA secondary market platform ODL, real estate tokenization platform Housd, TCG market platform JK Index, closed-loop game Fraudsworth, agent security platform Sudont, DeFi yield search engine YieldCompass, agent finance platform Clawpump, TCG application layer One Arena, stablecoin infrastructure for remote founders Stablecorp, blockchain game The Syndicate, cross-border stablecoin payment DashX, supply chain platform Nomu, thematic investment basket Cesto, equity token issuance platform Crafts, geopolitical prediction market Memetic Machines, Philippine overseas diaspora digital bank KinnectFi, and TCG super app Traded.gg.

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

With price action still adhering to a distinct bearish structure, XRP is still among the market's weakest large-cap assets. XRP broke below the range and accelerated lower after consolidating between about $1.30 and $1.50 for several months. The asset was driven toward the psychologically significant $1.00 support level by the breakdown, which validated a bearish continuation pattern. 

The 50-day, 100-day, and 200-day moving averages of XRP are all technically above its current price, reflecting a downward slope. Usually, this alignment means that sellers are still in complete control. The RSI is getting close to oversold territory at 32, indicating that the short-term downside momentum may be running out. However, during severe downtrends, oversold conditions by themselves seldom indicate a bottom. 

XRP/USDT Chart by TradingViewThe crucial level to keep an eye on is $1.00. Another wave of selling could be sparked by a clear break below it, opening the door to lower support zones. On the other hand, XRP might experience a relief rally toward the 50-day EMA at $1.14-$1.15 if buyers are able to hold this area. Until the asset regains significant moving averages, the trend remains negative. 

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Shiba Inu forms a breakdown SHIB is displaying a quite similar structure. Recently, the asset broke out of a rising wedge formation, which frequently precedes bearish continuation moves. SHIB has not established a significant recovery since the breakdown and is still trading close to local lows. SHIB is still below all of the major moving averages, just like XRP. 

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The 50-day EMA is preventing buyers from creating long-term momentum by acting as dynamic resistance. Recent attempts at a bounce have not seen a significant increase in volume, suggesting that bulls are not very confident. SHIB is firmly in oversold territory as the RSI has dropped toward 21. 

The overall trend still favors sellers, even though this increases the likelihood of a short-term recovery. The recently broken wedge structure and the 50-day moving average are likely to present obstacles for any recovery attempt. 

The current move appears to be more of a continuation of the larger downtrend than the start of a true reversal unless SHIB can recover those levels.

Pressure on Bitcoin remainsDespite its efforts to stabilize above the $60,000 mark, Bitcoin is still under significant pressure. The medium-term bullish structure was effectively terminated and a return to bearish control was confirmed when the asset broke away from an ascending trendline that had sustained the recovery rally from April to May. 

The 50-day, 100-day, and 200-day moving averages of Bitcoin are all significantly above the current price on the chart. The market has lost a lot of momentum during the most recent correction, as evidenced by the 200-day moving average near $76,000 becoming a distant resistance level. Additionally, recent attempts at a bounce have not been successful in regaining the 50-day EMA, indicating that sellers still control every relief rally. At 32, the RSI is getting close to oversold territory. 

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Although this might encourage a temporary recovery, the overall trend is still negative. Crucially, volume increased throughout the sell-off, suggesting true distribution as opposed to just a lack of buyers. The $58,000-$60,000 support zone is a crucial level to keep an eye on. 

Another wave of liquidation pressure could hit the market if Bitcoin loses this area. On the other hand, the first sign that the bearish momentum is starting to wane would be a rebound above the 50-day EMA around $64,000. Until then, sellers continue to have the upper hand and Bitcoin remains stuck in a downtrend.

Solana's breakout potential Solana is showing remarkable resilience in contrast to Bitcoin. Even though SOL saw a significant drop earlier in June, buyers intervened forcefully near the $63-$65 support range, keeping the asset above regional lows. 

Technically, SOL is still below its major moving averages, indicating that the long-term trend is still negative. The asset has started to consolidate around the 50-day EMA at $72, and it recently produced a higher low. Many large-cap cryptocurrencies, on the other hand, continue to set new lows. After a period of oversold conditions, the RSI has recovered toward 49, returning to neutral territory. 

SOL/USDT Chart by TradingViewThis suggests that selling pressure has significantly decreased. During recent recovery attempts, volume has also increased, indicating real buyer involvement. Regaining the 50-day EMA and establishing support above $72 is the bulls' immediate challenge. A move toward the 100-day moving average near $77 is more likely if that happens. 

In the event that current levels are not maintained, the $63 support zone would become more prominent. Even though there is currently no proof of a complete trend reversal, SOL remains one of the more promising assets among the major cryptocurrencies.

As Solana trades near $72, market attention has shifted to the $40 to $60 price range, a technically significant support level that could define the token’s next big move. While two technical analysts both underscore the critical nature of this zone, their short term projections for SOL diverge, suggesting alternate market scenarios in the weeks ahead.

Major support seen as launching pad for long term gainsAccording to an analysis shared by CryptoPatel, based on TradingView data, SOL failed to sustain higher levels and retreated back to its previously identified support and entry area. CryptoPatel indicated a personal buying range between $40 and $60, citing long term profit-taking targets set at $500 and $1,000—levels that would represent ambitious upside under bullish conditions.

CryptoPatel stated that they view the $40 to $60 range as a buying zone, while setting sights on $500 and $1,000 as potential long term targets for SOL.

The immediate region to watch is the $52 to $60 band; if SOL can hold this level, buyers may attempt a recovery towards the $100 mark. For a more robust rally, however, the token would need to overcome the historically strong resistance area between $160 and $220, previously a tough barrier in past cycles.

Targets like $500 and $1,000 on the chart remain plausible only if a broader upward wave materializes, requiring a clear breakout above the $220–$295 resistance range. Presently, the outlook for Solana is marked by longer term potential coupled with significant near-term uncertainty.

Short term outlook points to possible final shakeoutA contrasting technical view from analyst Ardi, also referencing TradingView data, suggests Solana may face one final deep correction before a significant recovery begins. According to this perspective, after pulling back from its previous cycle highs, SOL is currently consolidating within a long term structure—potentially part of a market accumulation phase that could last a while.

Ardi assessed that Solana might briefly dip below current lows ahead of a renewed upward attempt, describing this as a possible final shakeout before recovery.

In this scenario, the critical area to watch is Solana’s current support zone. Should SOL breach this level, the charts indicate the price could temporarily slip below the established acceptance area, in a move reminiscent of the final capitulation witnessed in 2022, according to Ardi.

Despite this, the bulk of downside risk may already be behind. Should the market see another wave that flushes out weaker holders, and if buyers subsequently return, SOL could recover towards its previous macro resistance zone.

Recovery prospects hinge on support holding firmBoth analyses stress that the longer term outlook for Solana is predicated on the token maintaining its support between $40 and $50. Losing this band could weaken the technical setup, but a quick recovery or continued stability within this zone would strengthen the bullish case and could pave the way for renewed gains.

Should Solana stage a decisive rebound, the prospect of higher prices may resurface, with some analysts seeing this rally potentially stretching into 2027. For now, the market is closely monitoring whether the crucial support area will hold or give way.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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28 June 2026 | 22:02 At $71 at the time of writing, SOL trades below every major moving average in a downtrend that's run since October 2025, but it's also resting directly on top of the largest concentration of recent buyers in its history.

Key Takeaways SOL trades at $71, below all three moving averages in a clear downtrend. Over 60M SOL changed hands between $65 and $71, the largest cost-basis cluster. Funding rates are near neutral, with no speculative positioning either way. Below $65, on-chain support is thin until roughly $53. That makes the current level less a support or a ceiling than a decision point, the zone that could define the next move in either direction.

Where the Price Sits The structure is bearish, with no ambiguity. SOL has fallen from a peak above $290 in January 2025 to $71 on June 28th, 2026, and all three moving averages sit overhead: the 50-day at $77.3, the 100-day at $81, and the 200-day at $95.18. Price is below all of them, a fully bearish stack.

SOL price structure remains bearish as it trades below key moving averages and crucial Fibonacci levels. On the daily Fibonacci retracement, price is sitting between the 0.786 level at $74 and the full retracement at $67.5, which is deep, the 78.6% level is near the bottom of a measured move, and SOL has technically overshot the standard retracement range.

RSI at 47.8 with a signal line at 45.80 is neutral-to-weak, drifting just below the midline rather than oversold or recovering. The recent action backs that up: a sharp early-June drop from around $75 to a wick below $65, then choppy attempts that haven’t held above $72-73, with price now compressing in the $68-72 range on lower highs. There’s no reversal structure forming, just range compression.

The Cost-Basis Cluster That Defines the Level Per Ali Charts citing Glassnode, more than 60 million SOL changed hands between $65 and $71, the largest single cost-basis cluster on the entire URPD chart, with the heaviest concentrations at $70.80 and $67.85. Price is currently sitting right on top of it.

More than 60 million Solana $SOL changed hands between $65 and $71, making this one of the strongest support zones.

As long as this demand cluster holds, the bullish structure remains intact.

If it breaks, the next major support levels based on the UTXO Realized Price… pic.twitter.com/t4lAKe7v6E

— Ali Charts (@alicharts) June 28, 2026

The implication cuts both ways, which is exactly why it matters. The majority of recent buyers are at breakeven or slightly underwater right now. If this zone holds, those holders have little reason to sell at a loss, and the cluster behaves like support. But if price breaks below $65 convincingly, those 60-million-plus SOL flip into loss, and historically that’s when spot selling tends to accelerate, the demand cluster becomes supply. It’s the same zone playing both roles depending on which way price moves through it.

What makes a break below $65 structurally significant is what lies beneath: very little. The fallback levels are sparse and far apart, only about 7M SOL transacted at $53.10, roughly 5M at $23.60, and around 15M at the very old $8.85 basis. The gap between $65 and $53 has thin on-chain support. That’s the risk corridor, stated as a structural fact from the data, not a prediction: if $65 gives way, there isn’t much underneath until around $53.

Derivatives Show No Conviction Either Way The futures market isn’t tipping the balance. Short-term funding rates across exchanges are mixed and shallow, close to zero in both directions: Bybit, Bitget, and BingX slightly negative (around -0.0077% to -0.0080%), HTX and KuCoin slightly positive (+0.0100% and +0.0054%), and Binance and MEXC flat at zero. That’s not an extreme reading anywhere, and there’s no strong consensus bias in positioning.

Solana funding rates remain near-neutral, reflecting a lack of strong directional conviction in the futures market. The longer-term view adds context. OI-weighted funding has hugged near zero or slightly negative since around November 2025, a marked contrast to the clearly positive funding that existed when SOL traded above $200. The current -0.0010% reading is negligible.

Long-term OI-weighted funding data confirms that speculative premium has been drained from the market. What that confirms is that speculative long premium has been fully drained from the market since the price collapse, funding was positive at the highs and has been flat-to-negative throughout the decline. There’s no speculative long buildup happening at current levels, and no aggressive short buildup either. The market is, in effect, waiting.

The Forward Binary Three things are true at once, and together they define a sharp setup. The price structure is weak, below all moving averages, deep in Fibonacci territory, RSI under 50, with no recovery pattern. The price is sitting on the single largest cost-basis cluster in SOL’s recent history, which is both its support and its risk. And derivatives show no directional conviction in either direction, with the market essentially in wait mode.

That leaves a clean binary, and it’s worth stating without spin. If the $65-71 zone holds, the cost-basis cluster absorbs selling and acts as a floor, recent buyers don’t crystallize losses, and the level might hold. If $65 breaks with volume, those 60M-plus coins flip to loss, the cluster probably turns into supply, and the next meaningful on-chain support sits all the way down near $53 with little in between. The data doesn’t favor one outcome over the other; it just defines, with unusual clarity, exactly where the line is.

This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

Bitcoin briefly dipped below $60,000 during the final week of June before buyers stepped in, capping a turbulent seven days driven almost entirely by macroeconomic forces rather than anything crypto-native. As of the latest data, Bitcoin trades at $59,873, Ethereum at $1,564, XRP at $1.04, and Solana at $70.37.

What Drove the Selloff

Expectations of higher interest rates for longer, a stronger US dollar, continued ETF outflows, and broad deleveraging across derivatives markets combined to push the market lower. More than $1 billion in long liquidations amplified the move, a reminder of how leverage continues to magnify short-term price action.

Where Each Asset Landed

Bitcoin’s decline found buyers at levels historically associated with long-term accumulation zones, which Avinash Shekhar, Co-founder and CEO of Pi42, described as the more significant signal from the week. “What stands out is not the decline itself but where it found support,” he said in an interview with Coinpedia.

Ethereum underperformed the broader market, sliding 9.84% on the week to $1,564. XRP showed relative resilience, losing less ground than most major altcoins and ending the week at $1.04, supported by sustained institutional interest tied to spot ETF product growth. Solana held up comparatively well at $70.37, reflecting continued confidence in its ecosystem’s development activity. Dogecoin dropped but remained reactive, ending down 11.97% on the week at $0.073, consistent with its history of quick responses to sentiment shifts.

Capital Is Becoming Selective

Shekhar identified a broader structural shift in how money is moving through the market. “Capital is becoming increasingly selective,” he said. “Rather than moving uniformly across the market, investors are differentiating between assets based on liquidity, institutional participation and ecosystem fundamentals. This marks a notable shift from previous market cycles, where momentum alone often drove broad-based rallies.”

Bitcoin ETFs recorded $1.79 billion in weekly outflows, the second-largest weekly sell-off since their launch. Combined unrealised losses for Michael Saylor and Tom Lee reached $24.5 billion during the week, according to on-chain tracking.

What Comes Next

Shekhar said the next directional move for digital assets will likely be determined by institutional flow data, macroeconomic readings, and monetary policy signals. A recovery in ETF inflows, easing inflation, and improved global liquidity conditions could lay the foundation for renewed momentum. Until those conditions change, he expects markets to remain range-bound with heightened sensitivity to economic data.

“The broader picture, however, remains constructive,” Shekhar said. “Institutional adoption, blockchain infrastructure development and real-world use cases continue to expand despite near-term volatility. Periods of consolidation are increasingly becoming opportunities for stronger fundamentals to emerge.”

Story Ends Here

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According to GMGN data, Solana ecosystem meme coin ANSEM briefly hit a market cap of over $78 million before pulling back to $74 million. It has seen a 356x price surge in 24 hours, with 24-hour trading volume reaching $49.4 million. Today, crypto KOL Ansem announced on social media that, due to Pump.fun’s refusal to distribute airdrops, he is issuing a “stimmy” (stimulus fund) to “the trenches” — a term referring to on-chain meme coin traders. As of press time, Ansem has been posting buy calls continuously to stoke community sentiment. BlockBeats reminds users: Most meme coins lack real-world use cases and are highly volatile; please protect your assets and avoid FOMO.

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27 June 2026 | 10:32 While most of the crypto market has been selling on macro fears, Solana has been doing something different: rising.

Key Takeaways SOL is outperforming the market on a specific catalyst: tokenized stocks. It rallied roughly 13% since June 9. SOL led Friday’s bounce with a +9% daily gain, the strongest among large caps. The broader downtrend is still intact, with all three SMAs above price. SOL is decoupling from the broader tape, and the reason might be a specific narrative that the rest of the market doesn’t have right now, tokenized stocks.

The Tokenized Stocks Catalyst Solana has become the default blockchain for tokenized equity trading in 2026, offering 24/5 trading, near-instant settlement, and DeFi compatibility. Since that narrative ignited around June 9, SOL has rallied roughly 13% against a market that was simultaneously making new lows while Bitcoin for example lost 4.5% and Ethereum dipped 6.5% for the same period. According to Santiment, social volume and social dominance for tokenized Solana spiked sharply, the conversation is new, concentrated, and still building.

The thesis is straightforward: more tokenized assets on Solana means more transaction demand, more fee revenue, and more structural reasons to hold SOL as the network’s native asset. Whether that demand materializes at scale is still unproven, but it’s the first catalyst in 2026 to give SOL a story independent of the macro mood, which is exactly why it’s been able to move against the market rather than with it.

Friday’s Bounce, and What Santiment Read Into It The decoupling showed up clearly in Friday’s session, where SOL led the broad market bounce with a +9% daily gain, the strongest single-day move among large caps, with Bitcoin Cash adding +6%. Santiment’s read was cautiously constructive: capital rotated into quality names rather than speculative coins, which suggests risk appetite still exists in the market. The open question heading into next week is whether that bounce holds or fades into the kind of relief-rally pattern that has rolled over before.

The Short-Term Chart At the time of writing, SOL trades at $71.98, up 2.4% on the day, while Bitcoin is down 0.4% and Ethereum is roughly flat, the daily outperformance continuing. The June selloff had taken price from around $84 to a June 5 low near $64, a drop of roughly 24% in under two weeks. Since then, SOL has consolidated in the $65-$74 range, posting higher lows over the past week. Today’s candle carries a large green volume bar, the biggest buying volume since the June 5 low, which supports Santiment’s read that Friday’s move had real participation behind it rather than being thin.

The levels mean different things depending on your time frame. For a shorter-term view, $66-$68 and $74-$75 are the boundaries that define whether the consolidation holds or breaks. For a longer-term view, the structural downtrend, price below all three declining moving averages, remains the dominant signal regardless of how the range resolves in the near term. The short-term story and the long-term structure are pointing different directions right now, and that gap is what makes the next move worth watching.

Why the Trend Is Still Down For all the short-term strength, the broader structure remains bearish, and that’s worth stating plainly. All three moving averages are declining and stacked above price, the 50-day at $77.71, the 100-day at $81.43, and the 200-day at $95.51, leaving SOL trading roughly $6 below even its nearest average. That confirms the larger downtrend is intact despite the bounce. RSI tells the more hopeful side: at 49.71 it has recovered from deeply oversold levels to near neutral, the first time since early May it’s been this close to 50, which suggests momentum is shifting but hasn’t confirmed a reversal.

Zoom out to the year and the context sharpens. SOL fell from around $115 in late January, sold off through March and April, managed a recovery to roughly $98 in April-May before rolling over, and bottomed at $64 in June. The year-to-date pattern is a clear series of lower highs and lower lows. What makes the current move notable is that the tokenized-stocks narrative is the first catalyst all year to generate a sustained counter-trend move rather than a brief bounce.

The setup comes down to a tension between story and structure. SOL has a genuine, building narrative in tokenized stocks that has let it outperform a falling market, and Friday’s volume suggests the move is real. But the trend is still down, the moving averages are still overhead, and $74-$75 has rejected every attempt to break higher.

It looks like the two levels that matter are $66-$68 on the downside and $74-$75 on the upside, a hold of support keeps the consolidation and the narrative alive, while a clean break above resistance could be the first technical confirmation that the tokenized-stocks story is strong enough to turn the trend, not just interrupt it. Which way it resolves is what next week answers.

This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

Key Takeaways OpenAI introduced a restricted preview of the GPT-5.6 family featuring three models: Sol, Terra, and Luna These names echo Solana’s SOL token and the infamous Terra/Luna blockchain that imploded in 2022 According to OpenAI, the naming convention represents different performance levels with no cryptocurrency connection Sol serves as the premium tier, Terra functions as the intermediate option, and Luna operates as the budget-friendly choice Government officials requested OpenAI maintain limited access during the initial rollout phase On Thursday, OpenAI revealed its GPT-5.6 model lineup, introducing three distinct tiers branded as Sol, Terra, and Luna. The naming choices immediately triggered discussions throughout cryptocurrency communities due to obvious parallels with prominent blockchain initiatives.

Introducing a limited preview of GPT-5.6 Sol, our next generation frontier model, as well as GPT-5.6 Terra, a balanced model for efficient, everyday work, and GPT-5.6 Luna, a fast and affordable model for high-volume work.https://t.co/OoM83SyISN

— OpenAI (@OpenAI) June 26, 2026

Sol corresponds to the trading symbol for Solana, currently ranking among the top cryptocurrencies by total market capitalization. Meanwhile, Terra and Luna reference a blockchain platform that catastrophically failed in 2022, erasing approximately $60 billion in investor holdings.

OpenAI explicitly stated the naming scheme carries zero connection to cryptocurrency projects. According to the organization, these designations simply distinguish varying capability levels within the model architecture.

Breaking Down the Model Capabilities Sol represents the premium offering, engineered for computationally intensive operations. Terra occupies the middle ground, delivering performance comparable to the earlier GPT-5.5 version while costing 50% less. Luna serves as the budget tier, prioritized for rapid processing and minimal expense.

The Sol variant introduces enhanced “max” and “ultra” reasoning capabilities. Its ultra configuration deploys multiple cooperative sub-agents to accelerate complex problem-solving workflows.

OpenAI highlighted that Sol achieves record performance on Terminal-Bench 2.1, a specialized evaluation measuring command-line programming proficiency. The company also reported advances in biological research applications and cybersecurity operations.

Regarding security applications, OpenAI confirmed Sol assists in vulnerability identification and remediation. However, the company emphasized the model remains below the “Cyber Critical” threshold defined in its internal safety protocols, preventing autonomous generation of complete working exploits.

Controlled Rollout and Security Validation This deployment doesn’t constitute a general public launch. OpenAI characterized it as a “limited preview” accessible exclusively to select vetted partners. The organization continues conducting comprehensive safety evaluations before expanding availability.

White House representatives allegedly requested OpenAI maintain restricted distribution while federal agencies finalize a forthcoming cybersecurity executive order structure.

OpenAI dedicated more than 700,000 GPU computation hours to automated adversarial testing, systematically probing for model vulnerabilities prior to release. Additionally, human security specialists conducted manual assessments exploring potential misuse scenarios.

The company explained its multi-layered defense approach incorporates model-embedded protections, live content filtering systems, and user account-level surveillance mechanisms.

API access pricing starts at $5 per million input tokens and $30 per million output tokens for Sol. Terra costs $2.50 input and $15 output per million tokens. Luna operates at $1 input and $6 output rates.

OpenAI additionally confirmed plans to deploy Sol on Cerebras infrastructure this July, targeting throughput speeds reaching 750 tokens per second.

The organization projects broader ChatGPT and API integration for all three models within the next several weeks.

Solana price climbed 4% to $71.80 in the last 24 hours, extending its lead among major tokens. The move beat Bitcoin’s 1.24% rise to $60,372 and the broader market’s 0.60% gain. 

The crypto market value was close to $2.08 trillion as traders cautiously re-entered altcoins.

SOL is leading the crypto recovery among majors, rising more than 5% in the last 24 hours to become the biggest gainer among the top 10 coins by market cap.

Solana also attracted attention when the open interest increased by 10%, indicating increased futures activity. The growing open interest may indicate new positioning particularly in cases where price gains are followed. Bulls are keeping an eye on SOL, whether it gains enough momentum to revisit the area of $80. 

Sentiment in the following sessions could also be affected by regulatory headlines. Full MiCA enforcement in Europe is forcing crypto firms to secure licenses. The anticipated signing of the CLARITY Act in the United States should minimize the uncertainty around digital assets.

SOL Open Interest Hits $5.24B as Options Demand Jumps Solana derivatives data indicated mixed positioning with traders decreasing volume, but maintaining leverage exposure. The total trading volume declined by 19% to $9.99 billion indicating a poor short term participation. 

Nevertheless, open interest increased 3.30% to $5.24 billion, indicating that positions were still in the market. The activity of options increased, and volume increased 27.79 to $22.27 million.

Source: Coinglass data Options open interest also increased 17.14% to $49.47 million. The data suggests cautious traders are preparing for larger price swings, as market direction remains uncertain near current levels.

Solana ETF Market Sees Outflows as Funds Post Daily Gains According to Sosovalue, Solana ETF products realized a negative net outflow of 3.94 million each day. Total net assets were 755.51 million.

Source: Sosovalue data Bitwise’s BSOL recorded the only daily inflow, adding $1.99 million. It accumulated inflow of $889.86 million, which is the highest of the listed products. The majority of funds closed up, and profits were around 10% daily across the board. The rankings in net assets were still very concentrated.

Solana Price Holds $70 Support: Can Bulls Push Toward $80? The SOL price closed at around $71.93 at the time of writing. SOL rebounded after a solid move up from the $65 level to consolidate. The price recently found itself in an ascending channel before the bull market lost its steam around the $75 level. 

The RSI was at 55.77 indicating balanced strength and an opportunity for further movement. Bullish momentum took a breather as MACD remained slightly positive. 

Source: Tradingview If the  future Solana outlook breaks out above $75, the next price target for Solana may be $80. If volume increases then the broader range may be around $84. But, a decline below $70 could diminish the setup. In that case, Solana price could revisit $68, followed by $65 support.

Solana’s network has shattered its own record for tokenized stock trading, with daily transaction volume soaring to an unprecedented $553 million. This milestone underscores the accelerating migration of traditional financial assets onto blockchain infrastructure and spotlights the rapidly growing visibility of tokenized equities within the digital asset ecosystem.

Historic high in transaction volumeTokenized stocks represent the digital equivalent of exchange-listed company shares on the blockchain, allowing investors to gain access to traditional equities through digital tokens. According to the latest market data, Solana processed $553 million worth of tokenized stock transactions in a single day, marking a new all-time high for the platform.

Mini glossary: A tokenized stock is the digital representation of a traditional company share on the blockchain. RWA stands for real world assets and refers to the migration of off-chain assets such as stocks, bonds, and commodities onto blockchain networks.

Recent figures reveal surging demand for blockchain-based financial products beyond cryptocurrencies and memecoins. Analysts point out that tokenized stocks have quickly become one of the fastest expanding segments among real world assets. Solana has emerged as the leading network in facilitating this surge of transactions.

MetricDataNetworkSolanaDaily transaction volume$553 millionStatusAll time highWhy this matters for investors and marketsThis rapid increase highlights how blockchain networks are increasingly being used not just for digital currencies but also for mainstream financial instruments. Tokenized stocks can offer faster settlement, reduced transaction fees, and broader accessibility compared to legacy market infrastructure. However, it’s important to note that regulatory frameworks continue to evolve and often differ from country to country.

Individual investors, institutional players, cryptocurrency exchanges, and tokenization platforms are among those positioned to benefit if adoption continues. This development is a clear sign that blockchain technology is extending far beyond cryptocurrencies, making inroads into regulated financial markets and real-world assets.

Industry trends and the regulatory landscapeThe surge in trading volume follows the rollout of regulated tokenized equity products and brokerage services on the Solana network. More platforms now offer investors the ability to purchase traditional stocks and convert them into blockchain-based assets, all while maintaining vital connections to regulated market infrastructures.

Crypto Briefing observes that tokenized equities have evolved from a niche crypto experiment into a genuine alternative market structure, a transformation most pronounced on Solana.

Still, regulatory questions loom for the industry. Tokenized stocks must comply with securities laws in their respective jurisdictions. Regulatory agencies are actively examining how these products are issued, traded, and settled across different frameworks.

Broader institutional participation is widely seen as contingent on the emergence of clearer and more comprehensive regulations.

Market participants are now closely monitoring whether these high transaction volumes will be sustained and if more financial institutions will expand their tokenized stock offerings. While Solana’s formidable transaction capacity and comparatively low fees make it a natural frontrunner, competition from other networks and changing regulations will ultimately shape the sector’s future growth trajectory.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

PANews, June 27 – OpenAI has released the next-generation GPT-5.6 model series, comprising three variants: Sol (flagship model), Terra (a balanced model for everyday work), and Luna (a fast and cost-efficient model). Currently, limited preview access is only available to select partners, with plans to gradually expand availability in the coming weeks. Notably, the three names coincide with the crypto projects Solana (SOL), Terra (LUNA), sparking heated discussion.

OpenAI’s recent announcement of its next-generation GPT-5.6 model family, revealed via X, quickly drew sharp responses from the cryptocurrency community. The core of the reaction centered on OpenAI’s choice of names for its new model tiers: Sol, Terra and Luna. These names are well known within digital asset circles, carrying significant associations for investors and enthusiasts alike.

Familiar names for the crypto worldAnyone closely following the digital asset markets will recognize these names as direct references to major projects within the crypto ecosystem. The designation “Sol” calls to mind the popular blockchain Solana, while Terra and Luna are inseparable from the 2022 collapse that wiped tens of billions of dollars from the market and shook investor confidence.

OpenAI’s brand choices quickly became a trending topic on social media. Many crypto users were quick to point out how closely the new model names resemble the well-known altcoins, with some comments referencing the infamous Terra ecosystem crash. Even the official Solana account on X joined the conversation, humorously referring to OpenAI CEO Sam Altman as “Sam Altcoinman.”

Solana’s official X account addressed Sam Altman as “Sam Altcoinman,” while other users emphasized that Sol, Terra and Luna evoke some of the most controversial chapters in crypto market history.

Three distinct layers in the GPT-5.6 lineupAccording to OpenAI’s official information, the GPT-5.6 series introduces three different model tiers, each tailored to specific corporate needs. OpenAI is positioning GPT-5.6 Sol as its new flagship model, highlighting substantial improvements over the previous GPT-5.5 generation.

GPT-5.6 Terra is marketed as a solution for everyday workflows, with OpenAI stating it matches GPT-5.5’s performance but at just half the cost. Meanwhile, GPT-5.6 Luna stands out for its ultra-low cost, making it ideal for high-volume tasks requiring budget efficiency.

As one of the world’s leading developers of generative AI models, OpenAI used this announcement to emphasize a strategy of balancing performance and cost to suit different user profiles. The fresh approach signals ongoing innovation in building AI for a wide range of business applications.

Initial access remains limitedBased on details shared by OpenAI, these latest models are not yet widely available to the public. Despite this, the disclosed technical performance metrics have already piqued the interest of technology observers and analysts. General users may still need to wait before gaining hands-on access to the new offerings.

OpenAI confirmed that GPT-5.6 Sol, Terra, and Luna models are initially open only to a select group of trusted business partners under a limited early access preview through Codex and API platforms. Feedback from these first users is expected to come primarily from enterprise and technical stakeholders before a broader rollout.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

SOL has been holding steady in the $71 to $74 range in late June, a small but meaningful show of resilience for a token whose underlying network is flashing some concerning signals. The token’s stability isn’t coming from the usual suspects. Instead, it’s being buoyed by a sector that barely existed on Solana a year ago: tokenized stock trading.

Solana’s traditional DeFi metrics are in retreat. Its total value locked has slid to roughly $4.8 billion, a far cry from previous peaks above $12 billion. DEX volumes dropped approximately 31% quarter-over-quarter in the first quarter of 2026.

Tokenized stocks are doing the heavy lifting Solana has quietly become the dominant chain for tokenized equities, and “dominant” might be an understatement. On June 20, the network captured roughly 99% of all tokenized stock DEX trades. That’s not a typo.

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Daily trading volumes for tokenized stocks on Solana have topped $200 million. Weekly volumes recently crossed the $1 billion mark.

Backed Finance has been a key driver, issuing 61 tokenized equity assets on the Solana network. Ondo Global Markets has also entered the picture, bringing tokenized US stocks and ETFs to the chain.

The DeFi decline in context The TVL drop from above $12 billion to around $4.8 billion is hard to ignore. That’s a decline of more than 60% from peak levels. A 31% quarter-over-quarter decline in DEX volumes during Q1 2026 adds to the picture.

What makes the current situation unusual is the divergence. Normally, falling TVL and shrinking DEX volumes would translate directly into token price weakness. SOL’s ability to hold the $71 to $74 range despite these headwinds suggests that traders are pricing in the tokenized equities story as a legitimate growth vector.

What this means for investors Weekly tokenized stock volumes just hit $1 billion on Solana. Tokenized equities are still a fraction of overall onchain activity, but they’re growing while traditional DeFi contracts.

Backed Finance’s 61 issued assets and Ondo Global Markets’ expansion onto Solana suggest institutional-grade players are betting on this trend accelerating. They’re building infrastructure for bringing traditional financial assets onchain, and they’re choosing Solana as their home base.

Investors watching SOL should track two metrics above all else: the growth rate of tokenized equity volumes on Solana, and whether TVL stabilizes around the $4.8 billion mark or continues declining.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

AAVE is today's top gainer, surging by double digits to well over $90.

Bitcoin’s price volatility around and just under $60,000 continued at the end of the business week, but the asset has managed to climb above this level as of Saturday morning.

Most larger-cap alts are slightly in the green, with XRP trading above $1.05 and ETH standing close to $1,600. SOL has risen the most from this cohort.

BTC Fights for $60K The business week began on the right foot for the primary cryptocurrency as the asset rebounded from the weekend slump to $62,500 and tapped $65,500 on Monday. However, that was a short-lived attempt for a more profound recovery as the bears were quick to intervene and halt all the progress.

In the following hours, the asset fell to $62,000. It bounced to $63,000, but the next leg down was even more painful. Bitcoin broke below $60,000 for the second time this month and tapped $59,000. After another dead-cat bounce to almost $62,000, the asset plunged even harder on Thursday, dumping to $58,000 for the first time since late 2024.

The latest leg down was strongly related to the adverse price moves observed from Strategy’s MSTR, which also marked a multi-year low of under $80. Nevertheless, BTC has managed to recover some ground from the aforementioned low and now stands at just over $60,000 despite the new attacks in the Middle East.

Its market capitalization has risen to $1.210 trillion on CG, while its dominance over the alts remains under 56%.

BTCUSD June 27. Source: TradingView SOL, AAVE Pump Ethereum continues to climb gradually after the recent low of $1,510 and now trades close to $1,600 following a minor daily increase. XRP has reclaimed the $1.05 support after a 2% jump since yesterday. Solana’s SOL has gained the most from the larger-cap alts today and sits above $72.

Even more impressive gains come from AAVE, AVAX, and MORPHO. Aave’s token has risen by double digits and sits above $95, while AVAX is north of $6.6. MORPHO has neared $1.80 following a 7% jump.

In contrast, MemeCore continues to drop, losing another 20% of value and struggling below $0.70 as of now.

The total crypto market cap has recovered over $80 billion since the Thursday low and is up to $2.170 trillion.

Cryptocurrency Daily Overview June 27. Source: QuantifyCrypto

Upexi, a Solana treasury company backed by GSR, announced today its inclusion in the Russell Microcap Index, effective June 29, 2026, as part of the annual Russell US Indexes Reconstitution. The change will become effective on June 29.

The Russell US Indexes are updated each year to capture changes in the US stock market.

The Russell Microcap Index tracks the smallest publicly traded US companies by including the smallest members of the Russell 2000 Index along with the next tier of eligible microcap companies. Membership remains effective until the next annual reconstitution.

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Approximately $12.2 trillion in investor assets are benchmarked to or invested in products based on the Russell US Indexes, making membership an important achievement that can increase a company’s visibility among institutional investors and investment managers.

Originally a consumer products company, Upexi shifted its focus in 2025 to building a Solana-centric digital asset treasury.

As of June 2026, it reported owning approximately 2.4 million SOL worth about $158 million and said it actively stakes the tokens to earn yield.

According to Chief Executive Officer Allan Marshall, Upexi’s inclusion recognizes the company’s growth and strategic transformation over the past year, during which it expanded its SOL treasury.

Marshall stated that Russell index membership is expected to improve the company’s exposure to institutional investors, index funds, and active managers while supporting its long-term objective of developing a larger and more diversified shareholder base through disciplined execution of its digital asset treasury strategy.

Upexi’s shares rose about 5% shortly after Friday’s market open, according to Yahoo Finance.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

CoinDesk 20 performance update: AAVE jumps 8.9%, leading index higher

You can now trade a memory-chip ETF from your Solana wallet. Sunrise DeFi, a platform built by Wormhole Labs, has launched a tokenized version of the Roundhill Memory ETF, ticker $DRAM, on Solana’s Jupiter exchange.

What $DRAM actually is The underlying asset here is the Roundhill Memory ETF, which trades on traditional markets under the Cboe BZX exchange with the ticker DRAM. That fund launched on April 2, 2026, and quickly attracted billions in assets under management as AI-driven demand for memory chips accelerated.

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Sunrise DeFi’s contribution is wrapping that ETF into a token that lives natively on Solana. The $DRAM token is now live on Jupiter, Solana’s dominant decentralized exchange aggregator, which handles swaps and lending across the ecosystem. This isn’t Sunrise DeFi’s first rodeo. The platform has previously handled the integration of PAX Gold (PAXG) and Ethena’s ENA token on Solana, building a track record of ensuring liquidity from day one for newly tokenized assets.

The bigger picture: tokenized equities flood Solana $DRAM isn’t arriving in isolation. It’s part of a broader wave of tokenized traditional financial products landing on Solana throughout 2026. Ondo Global Markets and Securitize are among the firms actively working to bring tokenized equities and funds to the network. Jupiter has become the natural landing pad for these products, serving as the connective tissue between tokenized real-world assets and Solana’s existing DeFi ecosystem.

Sunrise DeFi, designed specifically by Wormhole Labs to facilitate these integrations, is positioning itself as the go-to bridge between traditional finance products and Solana’s DeFi rails. Wormhole’s cross-chain messaging infrastructure gives it a natural advantage here, since moving assets across ecosystems is literally what the protocol was built for.

What this means for investors Tokenized ETFs remove several friction points from traditional investing. No brokerage account needed. No market hours. No T+1 settlement.

For memory-chip bulls specifically, $DRAM offers a way to express that thesis entirely within the DeFi ecosystem. Instead of holding the ETF in a brokerage and crypto in a separate wallet, traders can now manage both exposures in a single interface. That composability—the ability to use $DRAM as collateral for loans or pair it in liquidity pools—is where tokenized assets genuinely differentiate themselves from their traditional counterparts.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Ex-Goldman Sachs Exec Says Crypto Cycle Remains Mid-Phase

SOL Strategies, the first dedicated Solana treasury company to trade on a major US exchange, saw its shares jump roughly 22% on Friday. The catalyst was straightforward: SOL itself climbed 9%, and every company treating the token as a balance sheet asset got dragged upward with it.

The broader group of Solana DAT (Digital Asset Treasury) stocks posted double-digit gains across the board.

The MicroStrategy playbook, Solana edition SOL Strategies (Nasdaq: STKE / CSE: HODL) is the most prominent name in this niche. The firm holds over 435,000 SOL and operates a major validator network, meaning it doesn’t just sit on the tokens. It stakes them and earns yield.

The company launched its Nasdaq trading in September 2025 after completing a 1-for-8 share consolidation, while keeping its Canadian Securities Exchange listing under the ticker HODL.

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But SOL Strategies isn’t alone. Forward Industries reportedly holds the largest SOL position among publicly traded companies, with over 7 million SOL as of March 2026. Upexi is another firm that has accumulated a significant position.

When SOL moves 9% in a single day, a company like SOL Strategies doesn’t just match that gain. It amplifies it. A 22% stock jump on a 9% token move implies roughly 2.4x leverage, which is what happens when you combine treasury exposure with operational revenue from staking and validator services.

Validator operations add a revenue layer As of February 2026, the firm reported 33,568 unique wallets delegating to its validators, up from approximately 31,000 earlier that same month. That growth rate, roughly 8% in a matter of weeks, suggests accelerating demand for the company’s staking services.

In March 2026, SOL Strategies shares recorded a 21% gain after the company released validator updates, demonstrating that operational metrics can move the stock independently of token price action.

What this means for investors The correlation between SOL’s spot price and DAT stock performance creates an interesting dynamic for traditional investors. If you want SOL exposure but operate within the constraints of a brokerage account, a retirement fund, or an institutional mandate that prohibits direct crypto holdings, these stocks offer a workaround.

But that leverage cuts both ways. A 9% SOL rally translates to a 22% stock gain. The math works identically in reverse. When SOL drops, these stocks will fall faster and harder than the token itself.

The competitive landscape is also worth watching. With Forward Industries holding over 7 million SOL compared to SOL Strategies’ 435,000-plus, the treasury sizes vary enormously across the sector. Investors evaluating these companies need to look beyond the raw SOL count and consider validator revenue, delegation growth, operational costs, and dilution risk from potential future share issuances used to fund more SOL purchases.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Institutional demand for cryptocurrency ETFs weakened sharply this week as investors pulled billions of dollars from products tied to Bitcoin, Ethereum, Solana, and XRP. The latest wave of redemptions coincided with Bitcoin falling below $60,000, marking one of the most challenging periods for crypto investment products since the launch of spot ETFs in the United States.

US-listed spot Bitcoin ETFs recorded their largest daily net outflow in June on Thursday, while Solana ETFs are headed toward their first monthly net outflows on record. Across the broader market, crypto ETFs have collectively lost approximately $5 billion over the past 30 days, highlighting a widespread shift in investor sentiment.

Bitcoin ETFs post June's biggest outflow According to SoSoValue data, US spot Bitcoin ETFs recorded net outflows of $696.29 million on Thursday, surpassing the previous monthly high of $519.2 million recorded on June 2. The latest withdrawals extended Bitcoin ETF outflows to 6 consecutive trading days.

June has now recorded total net Bitcoin ETF outflows of $3.61 billion, while year-to-date net outflows have reached $4.56 billion. Since the beginning of May, investors have withdrawn approximately $6.04 billion from spot Bitcoin ETFs.

The selling pressure also appeared concentrated among the industry's largest funds. Fidelity's FBTC recorded $274 million in net outflows on Thursday, while BlackRock's IBIT lost another $265 million. The previous trading session on June 24 had already seen another $469.08 million leave US spot Bitcoin ETFs. The outflows have significantly reduced the size of the US Bitcoin ETF market.

SoSoValue data shows that total net assets across US-listed spot Bitcoin ETFs have fallen below $73 billion for the first time since late 2024. Combined assets now stand at approximately $72.57 billion. The decline represents a substantial drop from the sector's peak of $169.5 billion reached in October 2025, leaving total assets approximately 57% below their record highs.

More recently, total Bitcoin ETF assets have fallen from $104.29 billion on May 15 to $72.57 billion, extending a 7-week decline. Bitcoin ETF assets now represent 6.09% of Bitcoin's circulating market capitalization, down from more than 7% during the May peak.

Solana ETFs Record Their Worst-Performing Month Solana investment products also experienced notable weakness. June is on track to become the worst month on record for US spot Solana ETFs, with the category posting its first monthly net outflows. Net redemptions currently total $5.80 million for the month. On Thursday alone, Solana ETFs lost $3.94 million, with all of the outflows coming from Bitwise's $BSOL fund.

Ethereum products also joined the broader selling trend. Spot Ether ETFs recorded combined net outflows of $81.87 million, with BlackRock's $ETHA accounting for $62.99 million of the withdrawals. XRP ETFs remained flat during Thursday's session, recording neither net inflows nor net outflows.

While other Hyperliquid-related investment products experienced withdrawals, Grayscale's $HYPG fund stood out as the sole major crypto ETF to record net inflows, drawing in $112.73 million. This positive momentum was primarily the result of Hyper Holdings providing the fund with seed capital in the form of 2 million $HYPE tokens.

Bitcoin falls below $60,000 The ETF selling coincided with another sharp decline in cryptocurrency prices. Yesterday, Bitcoin briefly fell to $58,050, its lowest level since October 2024, before recovering to around $60,000. The recent market weakness has been linked to concerns surrounding Strategy and its $STRC preferred shares, which declined further to a new all-time low of $72 earlier today.

Solana also came under heavy pressure during the broader market sell-off, briefly dropping to $64 before leading the recovery among majors with an over 10 % rise in the last 24 hours.

Will The Sentiment Remained Subdued? Market observers continue to view ETF flows as an important measure of institutional demand. Citi has previously described Bitcoin ETF flows as one of the best indicators of investor adoption and expects sentiment to remain subdued while ETF flows stay negative.

In a recent report, CoinShares noted that Bitcoin's recovery from approximately $58,000 indicates continued buying interest during market declines, although resistance around $60,000 remains significant. The firm also observed that whale selling, which contributed heavily to the October market decline, has slowed considerably. However, the firm cautioned that whales historically do not return as consistent buyers until the next Bitcoin halving cycle, which is expected in 2028.

Looking ahead, CoinShares expects market conditions to remain challenging as inflation concerns, elevated oil prices, and a hawkish Federal Reserve continue to weigh on risk assets. The firm also believes delays in passing the CLARITY Act could extend uncertainty about the US regulatory environment, with the legislation now more likely to advance toward the August congressional recess than in early July.

For now, persistent ETF outflows across nearly every major cryptocurrency suggest institutional investors remain cautious as falling prices, macroeconomic uncertainty, and concerns surrounding Strategy continue to pressure digital asset markets.

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Has This Been Solana’s Biggest Mistake?

A Solana-based exchange-traded fund, SOLZ_KZ, has officially launched on Kazakhstan’s main stock exchange, KASE. With this move, qualified investors can now gain exposure to Solana without directly holding the asset by investing through a regulated financial product. The listing marks another step forward for digital assets entering mainstream financial channels.

Regulated Solana access in KazakhstanManaged by Volatility Shares, SOLZ_KZ gives investors futures-based exposure to Solana within Kazakhstan’s established financial regulatory framework. This development not only signals growing institutional demand for crypto investment products but also underlines Kazakhstan’s commitment to expanding its digital asset ecosystem.

Glossary: KASE stands for Kazakhstan Stock Exchange. It serves as one of the main market infrastructures in the country, where equities, bonds, and various financial products are traded.

The global spread of regulated crypto ETFs could help bring blockchain-based investment vehicles to a broader pool of investors. Since SOLZ_KZ relies on futures contracts rather than directly purchasing spot Solana, investors will need to carefully review the product’s structure before investing.

Record growth in tokenized equity tradingAccording to Cointelegraph, daily trading volume for tokenized stocks on the Solana blockchain surged to a record $553 million. This spike highlights rising interest in platforms that allow investors to access traditional equity markets via blockchain technology.

Key drivers behind this demand include quicker settlement times, the ability for investors to purchase fractional shares, and the capacity to trade 24/7. Solana’s high throughput and comparatively low transaction fees have made it a preferred blockchain for platforms offering tokenized versions of public company shares and other real-world assets.

Based on data from Cointelegraph, tokenized equity trading volumes on the Solana blockchain hit an all-time high of $553 million in daily activity, signaling an accelerating convergence between traditional finance and decentralized finance.

Noteworthy price movementsFollowing the launch of the ETF and record tokenized stock trading volumes, the price of SOL climbed 7.97% to reach $71.12. This market action is seen as evidence that interest in the Solana ecosystem is mounting, driven both by new investment products and expanding use cases on the network.

Crypto analyst Team LAMBO observed that despite broader market volatility, Solana continues to display a positive outlook in line with Bitcoin and Ethereum. Several analysts suggest that breaking through the $75 mark could trigger a fresh wave of gains, with $155 potentially emerging as a technical target should buying momentum persist.

Nevertheless, the inherently volatile nature of cryptocurrencies means that such projections remain uncertain. Bitcoin’s rebound from its recent $58,000 low is also providing a boost to Solana and the wider altcoin market. If positive market conditions continue, previous highs for SOL could be retested.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

US SEC and CFTC Solicit Public Comments on Regulatory Framework for Portfolio Margin of Securities, Futures and Other Products

The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) issued a joint announcement seeking public input on a coordinated regulatory framework for portfolio margin of securities, security-based swaps, futures, swaps, and related positions. The agencies are evaluating whether enhanced regulatory coordination will boost risk management efficiency, reduce market fragmentation, and strengthen customer protections. SEC Chair Paul Atkins noted that cross-margin mechanisms could unlock liquidity currently held in separate accounts. CFTC Chair Mike Selig added that deeper cooperation between the two agencies on portfolio margin could free up unused capital while ensuring a more robust risk management framework and market safeguards. The public comment period covers topics including current portfolio margin models and practices, customer protection considerations, cross-margin and cross-product hedging, capital, segregation, and collateral treatment, risk management methodologies, matters related to clearing agencies and derivatives clearing organizations, operational and technical implementation issues, and potential impacts on market liquidity and competition. The comment window is 60 days following publication in the Federal Register.

7 minutes ago

US SEC and CFTC Solicit Public Comments on Regulatory Framework for Portfolio Margins Covering Securities, Futures and Other Related Products

U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) issued a joint announcement seeking public comment on a coordinated regulatory framework for portfolio margin covering securities, security-based swaps, futures, swaps, and related positions. The agencies are evaluating whether enhanced inter-agency regulatory coordination will help improve risk management efficiency, reduce market fragmentation, and strengthen customer protection. SEC Chair Paul Atkins noted that cross-margin mechanisms could unlock liquidity currently held in separate accounts. CFTC Chair Mike Selig added that strengthened inter-agency cooperation on portfolio margin could free up unused capital while ensuring more robust risk management frameworks and market safeguards. The comment period covers topics including current portfolio margin models and practices, customer protection considerations, cross-margin and cross-product hedging, capital/segregation/collateral handling, risk management methodologies, matters related to clearinghouses and derivatives clearing organizations (DCOs), operational and technical implementation issues, and potential impacts on market liquidity and competition. The public comment window will remain open for 60 days following publication in the Federal Register.

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US stock declines narrowed, S&P 500 index briefly turned positive.

According to Bitget market data, U.S. stock market losses narrowed, the S&P 500 index briefly turned positive, the Dow Jones Industrial Average edged down 0.01%, and the Nasdaq’s decline narrowed to 0.26%.

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SemiAnalysis: Naura Technology accelerates the localization of China's etching sector, holding the leading market share in Changxin Memory's ICP etching market.

Independent semiconductor and AI research firm SemiAnalysis noted in a report that China’s localization process for etching equipment is accelerating, with progress clearly outpacing that of deposition equipment. Data shows that year-to-date, etching equipment imports among China’s front-end equipment have dropped 18% year-over-year, while deposition equipment imports have risen 3% year-over-year. SemiAnalysis believes this indicates that China’s domestic substitution in the etching sector has achieved substantial breakthroughs. Financial results from global etching leaders corroborate this judgment: Applied Materials’ China revenue fell 16% year-over-year in fiscal 2025, while Tokyo Electron’s China revenue dropped 18% year-over-year in fiscal 2026. SemiAnalysis points out that North Huachuang is a key driver of this trend; channel research shows it holds the leading share in the ICP etching market at ChangXin Memory. As ChangXin continues expanding production, North Huachuang is expected to further consolidate its market share and scale up its revenue.

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Barclays cuts its 2026 Brent crude oil price forecast to $96 per barrel.

Barclays cuts its 2026 Brent crude oil price forecast to $96 per barrel, and its 2027 forecast to $85 per barrel.

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At the opening of US stock markets, AI application software stocks rose against the trend, with ServiceNow and Figma climbing more than 5%.

According to Bitget market data, AI software stocks in the US market rose against the trend at opening. ServiceNow (NOW.US) and Figma Inc (FIG.US) jumped more than 5%, while Palantir (PLTR.US), Adobe (ADBE.US), Workday (WDAY.US), Salesforce (CRM.US), and Datadog (DDOG.US) gained over 3%, and Microsoft (MSFT.US) rose by more than 2%. Microsoft has hiked Xbox prices three times in 13 months, and stated that storage component costs will double next year.

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Crypto market recovery signs are flashing amid buy-the-dip sentiment following a crash. Traders brace for volatility as over $10.5 billion in Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) options are expiring today.

BTC price has jumped more than 2% above $60K in Asia trading hours, following a drop to $58K lows. In the last few hours, the crypto market recorded nearly $35 million in short liquidations.

Crypto Market Recovery or Crash as $9.3 Billion in Bitcoin Options Expire Today? According to Deribit data, 151K BTC options with a notional value of are set to expire on June 26. The put/call ratio of 0.63. However, the 24-hour put volume is significantly higher than the 24-hour call volume. The put/call ratio has increased to 1.24, indicating traders are bearish.

However, crypto market traders are adjusting their positions to rise in BTC implied volatility and 25 delta skew. This indicates traders are hedging for downside protection and expect a recovery phase after the quarterly crypto market options expiry.

Moreover, the max pain price is $70,000, above the current Bitcoin price of nearly $59,900. However, data shows a high probability of expiring below the $59,500 strike price, with 50% for $60,000 at press time.

Traders are buying $65K call options for the July 3 expiry, flashing signs of a crypto market recovery in the coming days. Notably, Core PCE inflation coming in line with expectations, falling oil prices, and plunging US dollar index (DXY) and treasury yield could reset the crypto market for an early recovery phase.

Bitcoin Options Open Interest. Source: Deribit As per GreeksLive, the crypto market’s risk is building up, but institutions and whales haven’t continued betting on further downside yet. They are awaiting the settlement for further cues on market direction.

Bitcoin Options Open Interest Gex. Source: GreeksLive What’s Next for ETH Price After Expiry? Crypto market participants also expect a potential recovery amid quarterly Ethereum options expiry. 1,002K ETH options with a notional value of over $1.5 billion are set to expire, with a put/call ratio of 0.50.

In the last 24 hours, put volume exceeded call volume, with a put/call ratio of 1.33. It shows bearish sentiment among traders as puts dominated calls. However, implied volatility and 25-delta skew indicate a potential rebound in the coming days.

Also, the max pain point is at $2,000, significantly above the current price. Options traders are betting on short-term ETH trading after the crypto market crash. The probability of ETH options expiring above the current market price of $1,550 is at 58%.

ETH price rebounded 3% after falling more than 8% in the past 24 hours, currently trading at $1,553. The 24-hour low and high are $1,510 and $1,656, respectively. However, trading volume has increased by 14% amid buy-the-dip sentiment.

ETH Options Open Interest. Source: Deribit Ethereum treasuries Tom Lee-backed Bitmine Immersion (BMNR) and SharpLink (SBET) are buying ETH at dips. ShapLink purchased 5,000 ETH from FalconX today after 8 months, increasing its holdings to 876,285 ETH.

XRP Under Pressure, Buy Whales Buy amid Crypto Market Recovery Signs More than 41K XRP options with a notional value of almost $43 million are set to expire today. The put/call ratio is 0.71. Call volume is still higher than put volume in last 24 hours, with a put/call ratio of 1.25.

The max pain point is at $1.30, above XRP price of $1.03 at the time of writing. However, traders are betting on XRP to recover above $1.10 despite significant selling pressure.

XRP Options Expiry Moreover, XRP on-chain data indicates a rise in positive whale flows amid the recent drop in prices. If whale accumulation remains in the positive region in the coming days, it could trigger a recovery amid Ripple securing MiCA compliance.

XRP Whale Flow. Source: CryptoQuant $57 Million SOL Options Expiry 83K SOL options with a notional value of over $57 million to expire, with a put/call ratio of 0.50. In the last 24 hours, call volume remained higher than put volume, with a put/call ratio of 0.99. This signals that options traders are overall bullish and awaiting the expiry of Bitcoin and Ethereum crypto options for cues on market direction.

Also, the max pain point is at $80, with traders targeting SOL at $70 in the coming weeks. SOL price has rebounded 6% to $68 over the past few hours. Trading volume has increased by 15% over the past 24 hours.

SOL Options Expiry