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One trader is seeing million dollar profits on a Solana (SOL)-based memecoin in just months, according to on-chain data. Blockchain tracking firm Lookonchain says that one investor in TROLL is looking at a gain of more than 130,000% after the memecoin inspired by the internet trolling culture had an explosive rally over the last month. “From $2,900 to $3.78 million in just 3.5 months – a 1,300x return! Trader ‘frostx.sol’ spent $2,900 to buy 20.91 million TROLL three months ago, sold 2.55 million for $50,700 and still holds 18.36 million TROLL ($3.73 million). With TROLL’s recent surge, his position has flipped nearly 1,300x, with a profit of $3.78 million.” Source: Lookonchain/X TROLL hit an all-time high on Wednesday at $0.2018, an increase of more than 423% from its seven-day low of $0.0403. TROLL has since retraced from its ATH and is trading for $0.1669 at time of writing, up 15.2% on the day. With a market cap of $175 million...

Solana (SOL) is experiencing a surge in capital inflows, partly driven by the launch of the first-ever U.S.-based spot staking Exchange-Traded Fund (ETF) for the asset. As of press time, Solana’s market capitalization stood at $81.58 billion, up from $77.63 billion the previous day, an increase of $3.95 billion. The asset’s price is also trending higher, trading at $152.71 after gaining more than 3% on the day and approximately 7% over the past week. Solana one-day market cap chart. Source: CoinMarketCap The bullish momentum was sparked by the launch of the REX Osprey Solana Staking ETF, which officially began trading on July 2 on the Chicago Board Options Exchange (CBOE). This fund is the first Solana-focused ETF in the United States and recorded around $8 million in trading volume within just 20 minutes of its debut, according to Bloomberg ETF analyst James Seyffart. https://twitter.com/JSeyff/status/1940407756051394680 Jointly launched by asset man...

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 How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

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 How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Solana (SOL) short interest has risen over the past week, in tandem with the cryptocurrency’s move to the upside following a two-week period of range-bound trading. As of May 14, 51.39% of the futures positions opened within the last 24 hours have been shorts, marking a noticeable change from May 8, when Solana’s short interest reached a low of 48.34%, according to data retrieved from crypto Analysis platform Coinglass .  Solana short interest 1-month chart. Source: Coinglass Short interest now sits at a one-month high, raising concerns that Solana’s recent rally, which has seen prices increase by 35.92% in the past month, may face near-term resistance. SOL price 1-month chart. Source: Finbold Is the increase in Solana short interest a sign that the SOL rally is coming to an end? Despite the increase in short interest, it remains unlikely that SOL’s recent price action will see a true reversal in the short term. Before the rally, whales loaded up on Solana...

Former Goldman Sachs executive Raoul Pal says one Solana (SOL) competitor is his “favored child.” Pal tells his 1.1 million followers on the social media platform X that if he had to “have a favorite,” the layer-1 chain Sui (SUI) would look preferable to Solana. The Real Vision chief executive shares a chart comparing the SUI/USD price to the SOL/USD price, with SUI/USD looking like it’s on the cusp of breaking out of resistance. Source: Rekt Capital/X SUI is trading at $2.97 at time of writing. The 13th-ranked crypto asset by market cap is up more than 21% in the past day and nearly 41% in the past week. SOL is trading at $149.47 at time of writing. The sixth-ranked crypto asset by market cap is up more than 3.5% in the past 24 hours and more than 13% in the past week. Pal isn’t the only analyst bullish on the Solana rival: Last week, crypto trader Michaël van de Poppe told his 783,900 followers on the social media platform ...

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RAY surged 10% after Raydium launched LaunchLab, a new meme coin creation platform aimed at challenging the dominance of Solana’s Pump.fun. The platform’s debut follows Pump.fun’s split with Raydium last month, when it launched its own DEX, PumpSwap, cutting into the revenue of the prominent SOL-based automated market maker (AMM). Top 24-hour performers (Source: CoinMarketCap ) The LaunchLab launch helped make RAY the top gainer among major cryptos on CoinMarketCap after the token’s surge in the past 24 hours took its weekly gain past 36%. It traded at $2.31 as of 1:10 a.m. EST.   Raydium Says New Tokens Can Be Launched For Free Raydium said that its platform will provide meme coin creators with customizable bonding curves and no migration fees. Tokens that raise 85 Solana will also transition to Raydium’s AMM instantly. The firm added that new tokens can be launched for free. Creators also have the ability to opt-in to earn 10% of trading ...

A closely followed trader believes that the layer-1 protocol Solana (SOL) may have just flashed a strong bullish reversal signal. Pseudonymous trader Inmortal tells his 231,500 followers on the social media platform X that Solana appears to have set a massive bear trap earlier this month when the price of SOL briefly dropped below $100. A bear trap is a false signal that makes it appear that the price of an asset is heading to much lower levels, but instead, the price abruptly reverses and rallies, leaving short-sellers trapped. Says Inmortal, “That weekly candle is maybe the biggest bear trap I’ve ever seen, SOL.” Source: Inmortal/X The analyst now believes that SOL is setting the stage for strong rallies en route to a new all-time high of $340 by December 2025. “In retrospect, it will be so obvious, SOL.” Source: Inmortal/X At time of writing, Solana is trading for $128.19, down over 3% on the day. Looking at Bitcoin, Inmorta...

BitMEX founder Arthur Hayes says that altcoins may finally see a boost once Bitcoin (BTC) breaks a certain price range. In a new interview on Crypto Banter, Hayes, the founder of crypto investment firm Maelstrom, says that he’s expecting Bitcoin to continue dominating the crypto market for some time. However, Hayes says once BTC soars well above the $100,000 level again, riskier crypto assets will most likely start to shine. “We accelerated a bit after the recent Fed press conference where Powell announced the reduction of QT (quantitative tightening) and sort of teased QE (quantitative easing). We accelerated a bit, and if the market continues to collapse a bit, we’ll probably accelerate even more in terms of deploying capital. Most of what we’re buying is Bitcoin, I think Bitcoin dominance – that is the percentage of Bitcoin in the whole cryptocurrency market – continues to rise, and then at some point, let’s say Bitcion’s at...