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Solana Price Jumps 9% as New L2 Project Solaxy Banks $14M in Presale

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Solana (SOL) is showing no signs of slowing down in 2025.

Its native token, SOL, is up 9% in the past 24 hours – erasing most of the losses from yesterday.

Alongside SOL’s surge, a new Layer-2 solution called Solaxy (SOLX) has just blown past the $14 million mark in its presale.

Solana Price Rebounds as Spot Trading Volumes Surge

Solana is back on track after a brief dip.

After testing a minor support level yesterday, SOL has rebounded, climbing to $267 at the time of writing.

That puts SOL back where it was on Wednesday, and it’s now leading all the major altcoins in terms of gains.

But what’s really interesting are the factors behind this rebound.

Looking at spot trading volumes, it’s clear that interest in SOL is surging again.

Spot volumes soared past $10 billion in the past 24 hours, even passing XRP, marking a 10% increase from the previous day.

On top of that, open interest has climbed to $4.1 billion, which suggests that traders are betting on SOL going even higher.

The token’s technicals look good, too.

On the 4-hour chart, SOL rejected the 50-period EMA, and since then, it has followed an upward trendline that formed earlier this week.

This solid support and the uptick in trading volume hint that the bulls are back in control for Solana.

Beyond the Price – Why Solana’s Fundamentals Are Stronger Than Ever

Several factors are lining up that could send SOL even higher in the coming months.

The big one everyone’s watching is today’s Solana ETF decision.

This potential approval comes as big money is pouring into the ecosystem, with over $3.5 billion in stablecoins flowing in the past ten days.

Solana’s fundamentals are also getting stronger.

Over 7,600 new developers joined the network last year, and this influx of talent is fueling innovation across the board, from new DeFi protocols to AI projects and even platforms for real-world assets (RWAs).

DEXs like Raydium and Jupiter are also seeing huge traction.

And Solana’s not resting on its laurels when it comes to tech, either.

The upcoming “Firedancer” upgrade promises to boost transaction speeds, potentially to one million per second.

On top of that, Solana is getting even more political backing, with venture capitalist David Sacks being given a role as a crypto advisor in the Trump administration.

Sacks is famously a big supporter of Solana.

Could Solaxy be the Next Big Layer-2 Network? SOLX Token Presale Passes $14M Mark

Another factor playing into Solana’s bullishness is all the buzz around Solaxy and its presale.

This new Layer-2 project just hit a huge milestone – raising over $14 million from early investors.

Clearly, many people believe Solaxy could be the key to solving Solana’s scaling challenges.

The timing of its emergence couldn’t be better.

As Solana gets more popular, the need for effective scaling solutions is becoming urgent.

Solaxy’s approach, which involves processing transactions off-chain and then settling them in batches, could help things run much smoother during peak times.

However, there’s more to Solaxy than just scaling.

The platform also has a staking program for the native SOLX token, which currently offers annual yields of 274%.

Investors have already locked up more than 4.1 billion tokens in this program.

But the most exciting thing is all the hype that Solaxy is getting from popular crypto influencers.

For example, Austin Hilton released a video analysis of Solaxy last week – stating that it’s a “major” project.

He also believes the planned bridge between Solana and Ethereum could unlock access to the latter’s huge liquidity base.

With the SOL price rising and institutional interest in Solana growing, Solaxy could be in the right place at the right time.

And with SOLX tokens on presale for just $0.001612, this might be the last chance to grab them at such a low price.

Visit Solaxy Presale

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Cryptocurrency

Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

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TL;DR

  • Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
  • Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
  • Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.

Large Withdrawals and Whale Activity

Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours. 

Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.

One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.

Major ETH Holders Offload Millions Amid Price Rally

In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.

A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months. 

Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578. 

Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.

Network Activity on the Rise

CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.

Ethereum (ETH) Tokens Transferred (Total)
Source: CryptoQuant

Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period. 

At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.

Ethereum (ETH) Staking Inflow Total
Source: CryptoQuant

In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.

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Massive DOGE Whale Activity Hints at $1 Breakout

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TL;DR

  • Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
  • A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
  • DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.

Price and Market Moves

Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion. 

Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.

On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.

Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.

Heavy Whale Buying and Large Transfers

As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community. 

Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.

Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.

Sentiment Building

Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding, 

“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”

With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.

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Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

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XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.

Technical Analysis

By ShayanMarkets

The USDT Pair

On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.

Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.

However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.

This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.

The BTC Pair

Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.

This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.

That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.

 

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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