Track market-moving stories before they get noisy

How Hyperliquid’s TradFi Edge Could Lift HYPE Price 90% — New All-Time High Coming?

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The year 2024 marks the dawn of a new era, not just for technology but for finance, as a major victory was achieved for Bitcoin Spot ETFs (Exchang-Traded Funds). It’s now the era where the past will be appreciated for its foresight and doggedness. 

When the pioneer cryptocurrency and digital currency, Bitcoin launched in January 2009, it was nothing like a real-world asset or of an ‘agreed’ digital value, but an almost neglected bag of gold as it faced enough rejection from all phases. Even with Satoshi’s Whitepaper, Bitcoin wasn’t given a cordial welcome in the world of finance.

However, for all its promise, BTC remained shrouded in an air of mystery and skepticism. It took several years for Bitcoin to cement its value in the world of technology, finance, and the digital economy, assuming a giant role amidst many other cryptocurrencies. 

However, On January 10, 2024, the SEC, in its official filing, approves all 11 Bitcoin Spot ETFs. This long-awaited green light from the US SEC marked a watershed moment, not just for Bitcoin, but for the entire cryptocurrency industry. 

The 14-year journey to this point was arduous and paved with skepticism; regulatory hurdles loomed large, with the SEC citing concerns about market manipulation and investor protection as justification for repeated rejections. Attempts like Bitcoin futures ETFs offered limited exposure, failing to capture the true essence of a spot ETF’s direct price tracking. 

Bitcoin Spot ETF Explained The recent approval of Bitcoin spot ETFs has stirred excitement across the financial landscape. But what exactly are these instruments, and what impact will they have on the future of BTC and, more broadly, on the investment landscape?

Bitcoin “Spot” ETFs (exchange-traded funds), unlike their futures-based counterparts, don’t track the price of Bitcoin futures contracts. Instead, they take a more direct approach, holding the underlying asset – Bitcoin itself – in secure digital custodians. 

This eliminates the potential for “basis risk,” a phenomenon where futures prices deviate from the actual cash price of Bitcoin. Simply put, Spot ETFs offer a more straightforward and transparent way to gain exposure to BTC’s price movements, akin to traditional gold-backed ETFs.

Bitcoin Spot ETFs function similarly to their traditional counterparts, such as those tracking stock market indices. They pool investor capital, purchasing Bitcoin and holding it securely. Each share of the ETF represents a fractional ownership of the pooled Bitcoin, allowing investors to participate in the market without directly holding or managing the cryptocurrency themselves. This eliminates technical complexities and potential security risks, particularly for those with limited crypto experience, potentially broadening the base of Bitcoin investors. 

The Genesis Of Bitcoin ETFs (Early Days and Conceptualization – 2013-2017) The earliest sparks of a Bitcoin ETF concept date back to 2013, when the Winklevoss twins first proposed their Gemini ETF. Winklevoss twins, Cameron and Tyler, both tech entrepreneurs with a vision in 2013, submitted the first application for a Bitcoin ETF, the Gemini ETF, sparking the decade-long journey to regulatory approval. 

This audacious proposal was outrightly rejected by the SEC during the tenure of its former chairman, Jay Clayton, who later resigned in 2020 and became a supporter of cryptocurrency. Interestingly, Clayton is now actively involved in crypto regulations when he joined the advisory board of Fireblocks, a crypto custody platform.

The following years were a crucible of innovation and uncertainty. While Bitcoin’s market capitalization surged, attracting both fervent supporters and cautious observers, the SEC remained hesitant. The regulator’s concerns about market manipulation, price volatility, and the nascent state of blockchain technology were cited as justifications for repeated rejections of subsequent ETF proposals, including Grayscale’s attempt to convert its Bitcoin Investment Trust into a spot ETF.

Yet, amidst the rejections, there were flickers of progress. Technological advancements improved blockchain security and custody solutions, addressing initial concerns about vulnerability and potential wash trading. The global adoption of Bitcoin, particularly in Canada with its approval of Spot ETFs in 2021, served as a compelling case study for increased accessibility and market stability.

This period also saw the SEC’s stance slowly evolve. The appointment of Gary Gensler as SEC Chair in 2021 brought a newfound openness to dialogue and exploration of potential regulatory frameworks for cryptocurrencies. The approval of the first US-listed futures-based bitcoin ETF in October 2021, despite its limitations, offered a glimpse of what could be.

The Turning Point: A Decade Of Persistence Pays Off (2018-2023) While the 2017-2018 crypto boom and subsequent crash sent shockwaves through the industry, it also served as a crucible, forging resilience and fueling a renewed focus on compliance and innovation. Industry figures like Grayscale, undeterred by previous rejections, continued to refine their proposals, incorporating crucial safeguards and addressing regulatory concerns.

This relentless pursuit of approval finally yielded results in 2023. In May, Cathie Wood’s ARK Investments filed for a spot bitcoin ETF, setting a definitive deadline for the SEC’s decision. 

Then, in June, BlackRock’s entry into the arena with its own Spot Bitcoin ETF application sent ripples of excitement through the financial world. This move by a traditional financial giant signalled a crucial shift in sentiment, demonstrating growing institutional confidence in BTC’s potential.

The months that followed were a whirlwind of activity. A flurry of applications from firms like Fidelity and Invesco poured in, fueled by the momentum of BlackRock’s move and the prospect of imminent approval. In August, a pivotal legal victory for Grayscale in the D.C. Circuit Court further strengthened the case for spot ETFs, forcing the SEC to re-examine its previous rejections.

Finally, the SEC, in a historic decision, greenlighted 11 spot bitcoin ETF proposals, including those from BlackRock, Fidelity, and VanEck. This moment marked the culmination of a decade-long struggle, signifying the mainstream acceptance of investor participation in the cryptocurrency space.

Ripples Across The Crypto Landscape: Implications Of Bitcoin Spot ETFs (2024) The arrival of spot ETFs has cast a wide net, sending ripples across various spheres of the financial world. There are a lot of potentials and challenges presented by spot ETFs, vital impact on market stability, institutional adoption, and regulatory oversight. There are positive predictions that the Bitcoin market cap could rise above $1 Trillion after the launch of Bitcoin Spot ETFs.

Let’s contemplate the broader significance of this pivotal moment, what it means for the future of finance, and its relationship between technology and traditional financial systems here.

Investor Crossroads For retail investors, Spot ETFs offer a convenient and familiar way to participate in the Bitcoin market without directly holding the cryptocurrency. This opens the door to broader adoption and increased liquidity, potentially leading to smoother price discovery and reduced volatility. The influential American magazine, Forbes predicted the BTC price will trade as high as $80,000 as a result of Bitcoin Spot ETFs’ approval. 

The year 2024 is also shaping up to be a good one, if not one of the best seasons for cryptocurrency, especially Bitcoin, as it’s the season for Bitcoin halving, which will have another mega impact on the crypto industry. 

However, the inherent risks of Bitcoin, including price fluctuations and potential exposure to fraud, must not be underplayed. Investors should approach spot ETFs with cautious optimism, ensuring a proper understanding of the technology, market dynamics, and associated risks before venturing in.

Institutional Embrace Bitcoin The arrival of spot ETFs marks a significant step towards institutional acceptance of Bitcoin. The involvement of established financial institutions like BlackRock and Fidelity lends credibility to the cryptocurrency and paves the way for further integration with traditional financial products and services.

Concerns remain about the impact of institutional involvement on market manipulation and potential conflicts of interest. However, regulatory oversight and robust compliance frameworks will be crucial in ensuring a fair and transparent market for all participants.

Market Redefined Spot ETFs could potentially lead to greater market stability by introducing institutional investors and their risk management expertise. This could mitigate some of the inherent volatility of the cryptocurrency market, attracting a wider range of investors and fostering sustainable growth.

The SEC’s approval represents a cautious acceptance, not a blank check. Further regulatory clarity and potential adaptation of existing frameworks might be required to effectively address the unique challenges posed by the integration of cryptocurrencies into mainstream financial systems.

Beyond Bitcoin Spot ETFs could act as a gateway for investors to explore the broader crypto landscape. Their familiarity and ease of access might encourage exploration of other promising blockchain-based projects, accelerating the overall growth and development of the cryptocurrency ecosystem.

The success of spot ETFs will hinge on the continued evolution of blockchain technology and associated infrastructure. Scalability, security, and user experience will remain key areas of focus for ensuring the smooth functioning and widespread adoption of crypto-based financial products.

The 11 Spot Bitcoin ETFs products (with their ticker symbols) approved  on January 10, 2024, are:

Blackrock’s iShares Bitcoin Trust (IBIT) ARK 21Shares Bitcoin ETF (ARKB) WisdomTree Bitcoin Fund (BTCW) Invesco Galaxy Bitcoin ETF (BTCO) Bitwise Bitcoin ETF (BITB) VanEck Bitcoin Trust (HODL) Franklin Bitcoin ETF (EZBC) Fidelity Wise Origin Bitcoin Trust (FBTC) Valkyrie Bitcoin Fund (BRRR) Grayscale Bitcoin Trust (GBTC) Hashdex Bitcoin ETF (DEFI) Conclusion The approval of Bitcoin spot ETFs is a watershed moment, not just for the cryptocurrency itself, but for the entire financial landscape. It marks a new chapter in the saga of Bitcoin, one where its disruptive potential can be harnessed within the framework of established financial systems.

Also, this path forward is paved with both opportunities and challenges. Navigating regulations and addressing investor risk concerns are important to ensure seamless integration with traditional financial systems and regulatory bodies, which will be crucial in determining the ultimate success of this technological leap.

Final Thoughts The approval of Bitcoin spot ETFs is not merely a regulatory green light; it’s a resounding declaration of Bitcoin’s arrival on the main stage of finance.

Related Reading: Celestia Network: How To Stake TIA And Position For 5-Figure Airdrops

However, the journey is far from over. This approval is a milestone, not a destination. As we stand at this turning point, it’s important to remember the spirit of defiance that birthed BTC. It was born from a desire for autonomy, for freedom from centralised control, and for a more equitable financial system. 

While ETFs offer a bridge between this decentralized world and the established financial order, it’s crucial not to lose sight of these core principles.

BTC price struggles post-Bitcoin Spot ETF approval | Source: BTCUSD on Tradingview.com Featured image from Cryptopolitan, chart from Tradingview.com

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The Artificial Superintelligence Alliance (ASI) kicked off phase 1 of its token merger process. The project recently announced the beginning of the migration process with the delisting of Ocean Protocol (OCEAN) and SingularityNET (AGIX) from crypto exchanges. However, FET is facing some pressure following its rebranding and supply update.

ASI Token Merger Phase 1 Begins On July 1, the ASI alliance and Fetch.AI (FET) announced the multi-token merger to unify OCEAN, AGIX, and FET. As part of phase 1, withdrawals and deposits with OCEAN and AGIX would close in preparation for the migration to FET.

Additionally, the delisting process from crypto exchanges would begin for the two tokens. Meanwhile, FET would continue to trade as usual, with spot and perpetual trading continuing under the same tricker.

The initial phase of the merger aims to “onboard exchanges and data aggregators for a smooth transition.” Fetch.AI saw a rebrand across platforms. The project took the Artificial Superintelligence Alliance name and logo but kept its ticker.

Moreover, the ASI alliance opened a migration platform on the SingularityDAO dApp to help users migrate their tokens. Some crypto exchanges, including Kraken and Coinbase, revealed they would not support customers on the ASI token merger.

Kraken announced that the trading of OCEAN and FET will continue to be supported on the platform until further notice. The exchange also noted that users must withdraw their tokens to a self-custodial wallet to migrate them.

Similarly, Coinbase informed its users that it chose to “not execute the migration of these assets on behalf of users.” Both exchanges also clarified they would not support the eventual migration from FET to ASI.

FET Retraces Following Rebrand After updating the token’s name, supply, and market capitalization, FET flipped Render (RNDR) in the AI tokens sector. According to CoinMarketCap data, the token is now the 27th largest cryptocurrency by market cap, with $3.38 billion.

Following the rebrand, FET’s price dropped similarly to when the token merger delay news was released. At the time, the merging tokens saw an 8-10% price decline following the rescheduling of the merger. The delay was attributed to logistical and technical issues.

FET fell from the $1.4 support zone on Monday to $1.27, a 9.7% drop in 12 hours. However, the AI token has recovered the $1.3 mark, currently trading at $1.33, representing a 3.6% decline in the last 24 hours.

Some market watchers found this performance disappointing. Some investors believe it might be best not to get involved until the merger is completed. Sjuul Follings, crypto trader and founder of Alt Crypto Games expressed his disappointment with the token’s recent fakeout.

Per the trader, he was optimistic about the late June price action, believing the token was about to break out and expand ahead of the ASI alliance. Nonetheless, FET could not reclaim the $1.8 support zone and retraced to the $1.4 support level over the weekend.

Despite the bearish trend, investors remain optimistic about the token’s future as the merger’s phase 1 is only starting. Some investors forecast a short-term price target of $5 for ASI and a long-term goal of $13.

FET is trading at $1.33 in the weekly chart. Source: FETUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

Ibiza Tech Forum 2026 to Host Blockchain, Digital Assets and Institutional Finance Programme

Crypto investor Chris Burniske says that Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and the crypto market in general look ready to make a run.

The former head of crypto at ARK Invest tells his 292,200 followers on the social media platform X that several catalysts are now lining up, hinting that digital asset markets are on the verge of a rally.

[adinserter block="1"]

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event and the current state of BTC, ETH, and SOL charts all suggest major bullishness for crypto markets.

“With ETH ETFs slated to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, SOL charts that look like [they do] (while equities are weak), it’s hard to see a world where we don’t send next week.”

Reuters recently reported that preliminary approval for ETH ETFs was granted while The Bitcoin Conference is set to take place from July 25th-July 27th.

BTC, ETH, and SOL are trading for $67,333, $3,528 and $174 at time of writing, respectively.

The venture capitalist also provides an update on his prediction that the total market cap of crypto assets will eventually reach $10 trillion. According to his chart, the road to $10 trillion is currently “23%” complete as it sits around $2.2 trillion.

Source: Chris BurniskeX Earlier this month, Burniske said in an interview with Real Vision CEO Raoul Paul that he’s keeping a close eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer-1 blockchains Sui (SUI) and Aptos (APT).

Generated Image: DALLE3

10 Altcoins Analyst Says Are Safe in Market Jitters

SUI's 73% weekly price gains top crypto market — New price record in reach?

Table of contents

Over the recent 7 days, the non-fungible tokens saw a significant rise in sales. The top NFT collections over this week in terms of sales take into account Solana Monkey Business, DMarket, DogeZuki Collection, Guild of Guardians Heroes, and Gods Unchained Cards. The well-known NFT data aggregator CryptoSlam has provided the respective ranking of the NFT projects.

Solana Money Business Maintains Its Top Position among the Top NFT Projects in Terms of Sales According to the platform, Solana Monkey Business took the 1st position among the NFT collections witnessing significant sales. In this respect, the non-fungible token collection recorded sales of up to $4,185,567 worth this week. This figure indicates a decline of nearly 18.42% in Solana Money Business’ sales over this period. The Mythos-based NFT collection DMarket witnessed $4,108,309 in terms of sales during this week.

CryptoSlam added that DMarket went through a dip of 0.54% in the recent seven days. After that, another Solana-based DogeZuki Collection occupied the 3rd place with sales of nearly $3,291,844 worth. Dissimilar to the above-mentioned two NFT collections, the DogeZuki Collection saw a rise in its sales rather than a slump. The NFT collection experienced a 3.12% in its sales this week. A week ago, the Gods Unchained Cards NFT was standing at the 3rd spot while DogeZuki Collection obtained the 4th position. Additionally, $?? BRC-20 NFT was the 5th on the list at that time.

Gods Unchained Cards Drops from 3rd to 5th Spot The Immutable-Zk-based Guild of Guardians Heroes obtained the 4th spot in the list with a sales volume of almost $3,099,078 worth. The NFT collection made a remarkable spike of up to 235.80%. The last entry in the list includes the Immutable-based Gods Unchained Cards. The NFT collection secured the 5th position with a sales volume of $2,766,701 worth. However, as per CryptoSlam, it went through a 21.12% plunge in sales over the above-mentioned time.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Top New Crypto Listings To Watch In March 2024

Solana and NuggetRush See Increased Market Activity

On May 5, Jito Labs—the Solana ecosystem’s staking protocol—announced plans to launch JTX, a consumer-focused crypto trading app, in July this year. This marks its official shift from the infrastructure layer to front-end transaction services. Early versions of JTX will support Solana-based spot trading, with plans to later integrate perpetual contracts and prediction market functionality. Access to the perpetual products may be facilitated via Phoenix, a trading platform within the Solana ecosystem. Founded in 2021, Jito currently has approximately 39 employees and holds over $1 billion in cash. The company delivered strong performance in 2025, once generating nearly $6 million in revenue in a single week amid popular on-chain transactions on Solana (such as the meme coin craze). Last year, it secured a $50 million investment from Andreessen Horowitz’s crypto fund. Jito CEO Lucas Bruder stated the firm is no longer content with merely providing underlying infrastructure. Instead, it aims to directly reach users through in-house developed apps to enhance the on-chain transaction experience.

Relevant content

Vice President of Strive: Strategy's STRC Has Essential Differences from the Luna/UST Model

Strive Vice President Joe Burnett wrote in an article that prior to the TerraUSD collapse, roughly $18.7 billion in UST was in circulation, backed by just $3.1 billion in Bitcoin reserves, and UST allowed immediate redemptions. Currently, Strategy holds around $51.5 billion in Bitcoin, corresponding to a circulating STRC supply of approximately $10.5 billion, while STRC is not an immediately redeemable asset. He stressed that the two differ significantly in collateral structure, asset coverage ratio, and redemption mechanism, noting "they are clearly completely different models."

13 minutes ago

trade.xyz launches contract trading for Japanese storage stock Kioxia (KOXIA)

According to official announcements, trade.xyz has launched contract trading for Japanese storage stock Kioxia (KOXIA), supporting up to 10x leverage. The Kioxia (KIOXIA) product tracks the value of each common share of Kioxia Holdings Corporation, listed on the Tokyo Stock Exchange (stock code: 285A). Its price conversion mechanism converts the underlying Japanese stock price from yen to U.S. dollars based on the current USD/JPY exchange rate. Kioxia manufactures NAND flash memory and solid-state drives (SSDs) for use in data centers, consumer electronics, mobile devices, and enterprise storage.

13 minutes ago

Japanese storage chip manufacturer Kioxia's share price rose more than 12%

According to Bitget market data, the share price of Japanese storage chip manufacturer Kioxia Holdings (铠侠) surged by 12%.

13 minutes ago

Coinbase secures Luxembourg’s MiCA license, to base its EU operations in Luxembourg.

According to an official announcement, Luxembourg has officially become Coinbase’s registered MiCA Home under the EU’s Markets in Crypto-Assets (MiCA) framework. Moving forward, Coinbase will use Luxembourg as its EU business hub to provide compliant crypto asset services for users across EU member states.

13 minutes ago

The KyberSwap attacker has transferred another 2000 ETH to Tornado Cash, with over 80% of the stolen funds now laundered.

According to PeckShield’s monitoring, an address identified as the KyberSwap attacker has once again transferred 2,000 ETH to Tornado Cash. Over the past two years, this attacker has cumulatively transferred and mixed 16,100 ETH via Tornado Cash, equivalent to roughly $40 million at current prices, accounting for over 80% of the $48.8 million lost in the KyberSwap attack in November 2023. Some of the stolen funds have not yet been fully transferred.

13 minutes ago

James Wynn closed out his 40x Bitcoin short position, netting $30,000 in profits, and shifted to opening a 50x S&P 500 short position.

According to monitoring by OnchainLens, James Wynn has liquidated his 40x leveraged Bitcoin (BTC) short position, pocketing roughly $30,000 in profit. He subsequently opened a new 50x leveraged S&P 500 (SP500) short position at a price of 334.42, betting on a future decline in the US stock market.

13 minutes ago

Hyperliquid has overtaken Solana on a fully diluted valuation basis, according to Arkham, adding a new market marker to one of crypto’s most closely watched comparisons: the rise of application-heavy, revenue-generating chains.

Arkham summarized the move directly on X, writing: “Hyperliquid has flipped Solana by FDV.” The accompanying Solana market page shows SOL trading around $86.51, with a fully diluted valuation of roughly $54.22 billion, a circulating market capitalization near $49.99 billion and 24-hour volume of about $2.74 billion. The same screen listed Solana’s current supply at 577.86 million SOL and max supply at 626.75 million SOL.

On Arkham’s Hyperliquid page, HYPE was shown trading at $56.71, giving the network a fully diluted valuation of about $54.57 billion. That puts it slightly above the Solana FDV shown in Arkham’s Solana screenshot, at roughly $54.22 billion. The comparison is notable because Hyperliquid’s circulating market capitalization was much smaller, at about $13.28 billion, reflecting a current supply of 238.39 million HYPE against a max supply of 962.27 million. Arkham also showed 24-hour HYPE volume of roughly $1.20 billion, with the token trading near its listed all-time high of $59.30.

Hyperliquid has flipped Solana by FDV. pic.twitter.com/rDF5FRg4TK

— Arkham (@arkham) May 21, 2026

Hyperliquid And Solana Lead All ‘Revenue Chains’ The FDV flip comes as Hyperliquid has also been showing up at the top of crypto revenue rankings. In post on X, Bitwise CEO Hunter Horsley lists Hyperliquid with $790.55 million in total revenue, ahead of Solana at $532.34 million. TRON followed at $471.20 million, while Ethereum was shown at $425.56 million.

Horsley framed the comparison less as a zero-sum fight between HYPE and SOL and more as evidence of a broader category emerging inside crypto.

“There’s a new class in crypto: the revenue chains,” Horsley wrote. “The leaders are Hyperliquid & Solana. Both do some overlapping things, and some different things. Both have exceptional communities, usage, use cases, etc.”

That framing matters because the Hyperliquid-Solana comparison is not purely about market capitalization. It is also about where users, liquidity and trading activity are concentrating. Hyperliquid’s revenue profile has become central to the HYPE thesis, while Solana remains one of the largest high-throughput ecosystems in crypto, with broad activity across trading, DeFi, consumer applications and token issuance.

Horsley argued that both networks are positioned around the same structural tailwind: capital markets moving onchain. “I think that both will rise together, just as iOS and Android both rode the structural adoption of mobile,” he wrote. “In the case of the revenue chains, they are riding the wave of capital markets coming onchain.”

Solana Camp Downplays Rivalry Solana co-founder Anatoly Yakovenko also pushed back against the idea that Hyperliquid’s rise should be treated as a threat to Solana’s roadmap. Responding to a post about Hyperliquid, Yakovenko wrote: “I am not worried about someone else succeeding. Whether hype succeeds or not isn’t going to change what I or the rest of the Solana ecosystem will be working on.”

Yakovenko once again presented Solana-based Phoenix Trade as a better version of Hyperliquid: “Try Phoenix Trade my HL brother.”

Meanwhile, Horsley highlighted the success of both. “If you are rooting for HYPE or SOL or both, success will be less about the competition between the two — healthy ofc — but rather the rise of onchain capital markets,” he wrote. “Root for capital markets coming onchain.”

At press time, HYPE traded at $58.354.

HYPE approaches it September 2025-high, 1-week chart | Source: HYPEUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com

After a steep selloff that reinforced bearish momentum, Solana appears to be entering a period of consolidation as Wave 4 unfolds. Such corrective phases often offer short-term relief and can also serve as a launching pad for the next leg of a downtrend. As the market searches for direction, the key question remains whether buyers can build a meaningful recovery or if another decline is waiting around the corner.

Wave 4 Correction Takes Shape Amid Cooling Selling Pressure Analyzing Solana’s wave outlook on the 30-minute time frame, Elliott Waves Academy noted that the pair may be gearing up for another significant downside move following a decisive breakdown from its price channel. The recent decline has reinforced bearish sentiment, with price action signaling that sellers remain firmly in control of the broader trend.

According to the analysis, Solana has already reached the 261.80% Fibonacci extension level, suggesting that wave 3 has completed. As the strongest and most impulsive phase of the trend, wave 3 has played a key role in driving the current bearish structure lower.

Source: Chart from Elliott Waves Academy on X With wave 3 finished, the market appears to have entered wave 4, a corrective phase that typically follows an extended decline. Given the aggressive nature of wave 2 earlier in the sequence, wave four is expected to be more subdued, likely developing through sideways consolidation or a corrective triangle formation as the market temporarily stabilizes.

Once the corrective structure is complete, attention will shift to the next bearish leg. A breakdown below the key support level of the correction could trigger wave five, opening the door for a decline toward the $81.33–$78.69 zone, representing the next downside targets for bearish traders.

Three Months Of Consolidation Unleash A Powerful Breakout For Solana Crypto analyst Daan Crypto Trades pointed out that Solana delivered the expected 20–30% move after finally breaking out of its multi-month trading range. Such explosive price action is often seen after extended periods of consolidation, where volatility remains compressed before a decisive breakout triggers a strong directional move.

The analyst emphasized the importance of waiting for confirmation. Once price escapes a range that has held for more than three months, momentum tends to accelerate rapidly, creating sizable opportunities for traders who react to the confirmed move rather than trying to predict it.

Solana is now retesting a crucial weekly support level. According to Daan, this area represents one of the last major support zones on the chart, making it a critical battleground for bulls. Holding this level and reclaiming key horizontal resistance levels above could help restore bullish momentum and strengthen the case for another upward leg.

SOL trading at $65 on the 1D chart | Source: SOLUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com

Crypto Scam Projects: How To Spot Fake Tokens

Users may now take advantage of zero-fee transactions when booking travel by using the Solana network integration. Additionally, user account wallets now support SOL, according to Travala.com. Crypto-native travel platform Travala.com, has said that it has extensively integrated the Solana network across the platform and will provide SOL travel rewards to users of its loyalty program. Following an AVA community vote, the integration will also see the deployment of AVA—the token used to access the travel reward program on Travala.com in conjunction with the AVA Foundation—deployed on Solana, making it the third network after Ethereum and BNB Chain where the AVA token may be accessible.

Travel bookings utilizing assets on the Solana network, such as SOL itself and USDT, USDC, and more, are now possible for Solana users thanks to Travala.com’s decision to offer support for the fourth-largest blockchain in the world by market capitalization.

Travelers will soon be able to use the AVA Smart Program, the travel loyalty program accessible on Travala.com, to get up to 10% of every booking back in SOL rewards as part of the extensive integration. As of right now, loyalty members may choose from a variety of travel reward alternatives based on their tier, including Bitcoin, AVA, and Travala.com Travel Credits. SOL will only be the third reward token available inside the loyalty program.

Additionally, user account wallets now support SOL, according to Travala.com. Less than ten cryptocurrencies are supported natively by the account wallet, despite the fact that Travala.com supports over 100 cryptocurrencies. Users may now take advantage of zero-fee transactions when booking travel by using the Solana network integration to make deposits and withdrawals of SOL, USDT, and USDC into their Travala.com account.

Juan Otero, CEO of Travala.com stated:

“The Solana network has become one of the most-used blockchains due to its cost effectiveness and scalability. Not only is the amount of activity within the Solana ecosystem incredible, so is the creativity. As innovators at Travala.com, the technologies that can be harnessed on the Solana network open significant avenues to build the next phase of travel.”

Beyond extending support for the Solana network and the soon-to-be SOL travel rewards, the connection goes beyond that. Travala.com has pledged to embrace the Solana ecosystem and will develop products on the high throughput network to capitalize on Solana’s cheap transaction costs and scalability. Going forward, Travala.com’s development strategy will be centered on Solana, with the aim of developing products that increase the practical applications of the Solana ecosystem.

The recent decision by Skyscanner to integrate Travala.com, which makes its inventory of more than 2,200,000 hotels completely discoverable on Skyscanner’s platforms, is followed by Travala.com’s integration with Solana. With this integration, Travala.com became the first crypto-native travel platform to be included to Skyscanner, a website that receives 110 million monthly visitors and users complete 80 billion searches daily.

Travala.com, which was established in 2017, is the top crypto-native travel booking platform, including over 2,200,000+ properties across 230 countries, over 400,000 activities, and over 600 airlines worldwide. As an advocate for the use of cryptocurrencies, Travala.com accepts more than 100 popular cryptocurrencies in addition to conventional payment options. For qualifying reservations booked on Travala.com, Smart members may take advantage of extra savings and loyalty benefits in addition to the website’s amazing pricing via its Best Price Guarantee. Go to www.travala.com to learn more about Travala.com.

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.

Animoca Brands Chairman’s X Account Hacked, Promoting Fake Token

[deleted by user]
by
in
StarAtlas

Solana Hit a New Tokenization Record, But Why is Price Still Struggling Below $100?

High entry barriers, complex transaction processes, and geographical boundaries have historically constrained the real estate and fine art markets.

These difficulties though aren’t slowing down the management of traditional assets—especially on the blockchain. According to a report by Standard Chartered, tokenized Real-World Assets (RWAs) will reach $30 trillion by 2034. This significant potential growth points to the untapped potential of real-world assets. Tokenization through the blockchain is revolutionizing how traditional assets are managed today. It is transforming global trade by improving accessibility and liquidity.

Blockchain technology is shaking up traditional asset management by improving transparency and immutability, increasing efficiency, enhancing security, and providing global accessibility. There is less intermediary involvement in tokenized assets, unlike what is obtainable with traditional asset management. Eliminating middlemen makes the process more transparent (reducing fraud and increasing trust) and less complex. In this article, we will explore how traditional assets are being bridged to the digital space using tokenization. 

Real-World Assets TokenizationReal-world asset tokenization is the process of issuing digital tokens based on the blockchain to physical or traditional assets like gold, real estate, machinery, etc. Essentially, the tokenization of these assets involves creating tokens that are typically issued as smart contracts on blockchain networks like Ethereum, Solana, Polygon, etc. Every token issued represents a fractional ownership of the underlying asset, and this is backed by a legal framework ensuring the connection between the token and the physical asset. 

A wide variety of assets can be tokenized, they include:

Financial Instruments like stocks, bonds, and other structured products  Real Estate like commercial and residential properties  Commodities like gold, silver, oil, etc Assets like arts and collectibles RWA Tokenization and the Opportunities in the Market We are at a transformative phase in the financial markets with RWA tokenization. This use case of blockchain technology has seen renowned financial institutions and fintech innovators actively developing and partnering with tokenization platforms. According to forecasts, it is predicted that 7-9% of investors’ portfolios will be allocated to tokenized assets by 2027 and the industry is on course to reach that.

A pointer to this is the market experiencing traction in securities tokenization, with major players like BlackRock, Goldman Sachs, Franklin Templeton, and JPMorgan launching dedicated tokenization initiatives. $10 trillion BlackRock for instance recently partnered with Securitize to provide better access to traditional financial products via digitization. BlackRock’s tokenized fund BUIDL, is leading the tokenized Treasury category with a market cap of $541 million. Franklin Templeton’s tokenized Treasury FOBXX is the third-largest with a market capitalization of $410 million. 

The Total Value Locked (TVL) in the RWA sector at the time of writing is $6.4 billion. This represents the industry’s economic value and its universal acceptance. As institutional-standard infrastructure continues to mature for trading, custody, and other products and services, private market assets like real estate and private equity have emerged as early adoption leaders.

Some key drivers of this adoption include the demand for access to premium investment opportunities without intermediaries, the push for more liquidity in otherwise traditionally illiquid assets, and major cost reductions in asset management and transactions. 

The sector however faces significant challenges still, some of which include the complexity of integrating traditional financial products with blockchain infrastructure and regulatory uncertainty. Other challenges include education and institutional adoption curves, and technicalities around interoperability, scalability, and security.

With regulations, it varies across jurisdictions. Certain regions are emerging as clear leaders in providing regulatory frameworks for tokenized assets. Countries like Switzerland and Singapore have established progressive environments that support the tokenization of RWAs while protecting investors and their investments. 

Pioneers at the Forefront of RWA Tokenization Enter RWA Inc. and Others The RWA sector is gaining momentum thanks to the work of projects in the space. RWA Inc. is one such key player and pioneering platform leading the charge in the RWA tokenization sector and redefining how we interact with RWAs on the blockchain. This is the first comprehensive RWA ecosystem offering end-to-end RWA tokenization through a cutting-edge multi-asset platform that includes tokenization-as-a-service, a launchpad, and a marketplace.

RWA Inc. isn’t only digitizing assets, it’s also unlocking an entirely new standard for asset ownership, trading, and management. The multi-asset platform seamlessly integrates a launchpad and a marketplace, while offering tokenization as a service, bridging the gap between traditional finance and a digital future on the blockchain. 

Operating in a potential $30 trillion market, RWA Inc. is well-positioned to be a dominant force in the RWA sector as it leverages unmatched regulatory compliance (already established 6 regulated trading licenses in the UAE) and transformative asset accessibility. The licenses RWA Inc. holds positions it as the premier onramp for traditional investment firms, banks, and hedge fund managers. $RWA is the native utility token that fuels the RWA Inc. ecosystem. Other projects at the forefront of RWA tokenization include: 

Propy: A decentralized real estate protocol that leverages blockchain technology to facilitate real estate transactions.  YieldBricks: a company that provides seamless DeFi pools for tokenizing yield via real estate assets. EstateX: A blockchain-based company that democratizes access to real estate investments with increased liquidity, lower investment minimums, and portfolio diversification. Metamovers: An innovative blockchain platform engineered to transform the secondary market for real-world assets, specifically focusing on real estate.  Future of RWA Tokenization Speaking on tokenization and the RWA industry, David Henderson, the Head of Marketing at Backed Finance, a significant player in the tokenization of government securities, said, “The tokenization revolution is in full swing. Financial institutions are embracing this technology, recognizing its potential to reshape the global financial landscape. The distinction between ‘real-world’ and digital assets will blur as blockchains become the settlement layer for all financial transactions, democratizing access to markets worldwide. The future of finance is borderless and inclusive.” 

RWA tokenization is at a focal intersection between traditional finance and blockchain innovation. Integrations between tokenized RWAs and DeFi protocols are creating new avenues for yield generation and lending markets. The development of institutional-standard infrastructures also increases adoption by major traditional financial players. As the technology continues to mature, we will see the emergence of sophisticated systems that combine blockchain’s efficiency with the mechanisms of the conventional financial market.

The tokenization of real-world assets is homogenizing access to asset classes that were previously exclusive, reducing market friction, and automating compliance processes. These are potentially profound impacts on traditional finance. The success of these alterations, however, depends largely on continued technology advancements, regulatory clarity, and institutional adoption.

Conclusion One of the most significant innovations in modern finance in recent times is the tokenization of RWAs. They play a major role in bridging the gap between traditional assets and blockchain financial infrastructure. Even though the technology and market frameworks are still evolving, the foundations for massive transformations are being laid by projects like RWA Inc. They are changing how we view asset ownership and trading.

The convergence of technological advancement, increase in institutional interest, and proper regulatory development corroborate that RWA tokenization is a rudimentary shift in the financial markets. And they are set to play a major part in this bull run. So, as an investor or an institution, this is the best time to develop strategic approaches to RWA tokenization.

Table of contents

MAP Protocol, a well-known Bitcoin L2 to increase cross-chain interoperability, has announced an exclusive development. As per MAP Protocol, the platform is launching comprehensive interoperability between the Bitcoin and Solana networks for seamless asset transfers. The platform disclosed this endeavor on its official social media account on X.

📢 MAP Protocol Officially Announces Interoperability Between Solana and Bitcoin Networks

MAP Protocol has officially announced the successful implementation and launch of interoperability between the Solana and Bitcoin networks. Users can now perform decentralized SOL-BTC… pic.twitter.com/6GjUV8STD0

— MAP Protocol (@MapProtocol) May 9, 2025 MAP Protocol Introduces Interoperability between Solana and Bitcoin Ecosystems MAP Protocol’s announcement of interoperability between the Bitcoin and Solana networks is a groundbreaking development. This endeavor focuses on opening latest possibilities when it comes to cross-chain interactions and advanced DeFi applications. The prominent apps, such as Cross-chain Swap, are already utilizing this breakthrough advancement. This development permits consumers to carry out $SOL-$BTC transfers without depending on intermediaries or centrally controlled exchanges.

The interoperability integration between the Bitcoin and Solana ecosystem leverages cutting-edge zero-knowledge proof technology. In addition to this, it also utilizes light user mechanisms to sustain an increased level of efficiency and security. In this respect, it guarantees a seamless and trustless consumer experience.

The development is specifically noteworthy as Bitcoin, dissimilar to the modern blockchains, does not have local smart contract functionality. Hence, this interoperability layer offers a matchless interaction with the high-performance blockchain of Solana. Solana is renowned for its low fees and rapid speeds. As a result of this initiative, MAP Protocol is reportedly leading toward increased blockchain composability.

Driving Utility, Interoperability, and Efficiency among Solana and Bitcoin Networks According to MAP Protocol, the interoperability solution for the Solana and Bitcoin networks is completely peer-to-peer and decentralized. It reinforces the platform’s endeavors to establish a trustless infrastructure. Specifically, consumers will retain complete control over assets during the entire process. Overall, this interoperability now just improves utility for Solana and Bitcoin consumers but also paves the way for a relatively efficient and interconnected Web3 landscape.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Solana UFO Meme Coins Surge After Pentagon Reveals Alien Files

PANews reported on May 14th that, according to The Block, Solana ecosystem infrastructure provider Jupiter has commissioned Bitwise to create a segregated, dedicated lending market for USDe on Jupiter Lend. This marks the first time an institutional asset management firm has curated a market on Jupiter Lend. The market will be segregated from Jupiter Lend's existing liquidity layer to mitigate risk for institutional capital. Jupiter is also leveraging the decentralized protocol Fluid to provide lending and collateral infrastructure support. Jonathan Man, Head of DeFi Strategy at Bitwise, stated that the design offers deep liquidity and risk mitigation features. Guy Young, CEO of Ethena Labs, the issuer of USDe, stated that USDe is an institutional-grade savings product built for scale.

What is Aleph Cloud ? A 2025 Guide to the DePIN Network 

5 Real World Assets (RWA) Altcoins to Watch in February 2025

In brief A hacker exploited Solana-based decentralized exchange Mango Markets back in 2022. Crypto trader Avraham Eisenberg was convicted last year. But a judge has vacated Eisenberg's fraud and manipulation charges. A trader who was convicted of manipulating Solana-based decentralized exchange Mango Markets to pinch $110 million in crypto had his conviction overturned on Friday. 

A jury last year convicted Avraham Eisenberg on counts of commodities fraud, commodities manipulation and wire fraud after he exploited the DeFi app, the sort that allows for the trading and lending of crypto assets without third-party intermediaries such as banks. 

Eisenberg exploited a feature in the decentralized exchange—or DEX—that allowed him to artificially pump his collateral to trick the protocol into allowing him to "borrow" $110 million in crypto.

But a U.S. judge on Friday sided with Eisenberg, and scrapped his fraud and manipulation convictions on the basis that the evidence in the trial was not able to support the jury's decision that he was guilty. 

In short, Judge Arun Subramanian wrote that the rules for the DeFi app were vague. "Mango Markets had no rules and no one testified that Mango Markets users understood borrowing to reflect an intent to repay," Friday's ruling read. 

He noted that Eisenberg's defense relied "on the lack of any terms and conditions on the platform and the fact that Mango Markets was permissionless and automatic."

In the crypto space, DeFi is the industry that aims to replace traditional financial services, like brokerages and banks. 

Via apps—such as exchanges like Mango Markets—users can make financial transactions without a middleman, and take out loans or trade digital tokens permissionlessly, typically without disclosing personally identifiable information like names, email addresses, or physical addresses. 

The fast-moving and experimental space is notoriously prone to hacks, and tales of users losing money are all too common. 

Legal experts with whom Decrypt spoke had differing views on how fair Eisenberg's outcome was. 

Andrew Rossow, cyberspace and public affairs attorney with Rossow Law, said: "The original promise of cryptocurrency was accessibility and empowerment. Today, however, digital assets have become increasingly opaque, inaccessible, and misunderstood by the very consumers they were meant to serve."

"The average individual is not only excluded from meaningful participation but is also left vulnerable to exploitation by sophisticated actors who operate with impunity," he continued, adding that people in positions of power—such as President Donald Trump—were "prioritizing personal enrichment over principled governance in the digital asset space."

Regulators and law enforcement have taken a softer approach to managing the fast-moving and convoluted space this year. 

Under crypto-friendly President Trump—who himself has backed a DeFi project—regulators have scrapped a number of high-profile lawsuits against crypto companies and entrepreneurs. 

The new commander in chief has also cashed in on the space, launching a meme coin ahead of his inauguration—drawing ire from Democrats. 

Jeffrey Leavitt, an associate at Vedder Price, told Decrypt that while the Mango Markets case was worrying for DeFi founders, the judge got it right. 

"Eisenberg was able to exploit errors in the underlying code for the Mango Markets protocol, inflate the value of the MNGO token, and withdraw collateral against MNGO tokens that were artificially inflated," he said. "Under that framework, I don’t think there was evidence to support a fraud conviction." 

But he added: "The Mango Markets saga is a cautionary tale to DeFi founders—one error in the code can be fatal to the protocol."

Prior to his arrest and original conviction, Eisenberg bragged about his actions on Mango Markets and taunted fellow users: "What are you gonna do, arrest me?" he famously tweeted at the time. 

It now seems his bravado may have been on point. Except for one thing: Eisenberg still faces four years in prison for possession of child pornography, found on his computer during the investigation.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.