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Cryptocurrency

Solana’s Evolution from Little Beginnings to Stardom

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The layer-1 Solana network ranks among the largest blockchains dominating the cryptocurrency industry. Staying at the top of its game, the L1 blockchain has grown into a popular choice for decentralized platforms, memecoins, and other crypto projects. There also exists speculation about an upcoming exchange-traded fund (ETF).

This article discusses key updates about the Solana ecosystem and their impact on the price movement of its native cryptocurrency, SOL.

SOL Price Momentum

SOL had a rocky start earlier in the year, dropping to around $95 in April. However, since then, it has made a roaring comeback. By early June, it was trading above $160. The strong comeback caught the eye of crypto watchers and retail participants alike.

What’s behind the bounce? A mix of things. First, renewed interest in Solana’s ecosystem, especially with memecoins and NFTs pulling in tons of traffic. Then there’s the ETF buzz. The idea that SOL might soon have its own exchange-traded fund has given the cryptocurrency a big narrative boost. Finally, the increasing attention given to decentralized finance (DeFi) has prompted various projects to focus on SOL for network fee settlement.

As interest in SOL grows, tools like a Solana price converter have become increasingly useful for tracking its value against fiat currencies like USD, GBP, and EUR, especially for portfolio management or real-time market checks.

What’s New in the Solana Ecosystem?

One of Solana’s biggest strengths is performance. It is fast, handling thousands of transactions per second, and cheap, with fees usually less than a cent. That’s a big deal for developers and users.

But speed alone isn’t enough. As the network attracts more usage, stability and reliability become just as critical. That is where Firedancer comes in, a new validator client built by Jump Crypto. It’s designed to boost the network’s resilience and scalability. If all goes well, it could help eliminate the outages that have plagued Solana in the past.

Alongside these infrastructure upgrades, Solana is also focusing on community and global expansion. Programs like the Solana Hackathons, the Hyperdrive accelerator, and dedicated ecosystem funds are helping onboard hundreds of new projects. Much of this activity originates from regions like Southeast Asia and Latin America, where cryptocurrency is increasingly adopting a mobile-first approach.

In short? Builders are building, and Solana is becoming the go-to choice for numerous Web3 apps in DeFi, NFTs, payments, and gaming.

The Rise of Solana Memecoins

Let’s discuss the memecoin wave as Solana is riding it hard in 2025.

Thanks to low fees and fast confirmation times, Solana has become the go-to chain for launching and trading meme coins. It’s reminiscent of Ethereum’s 2021 memecoin surge, but without the brutal gas fees.

A few memecoins have managed to break through the noise. Standout names include Dogwifhat (WIF), Bonk (BONK), Popcat (POPCAT), and Mew (MEW). Most began as jokes or inside memes, but some quickly gained cult followings and saw serious volume. A few have even hit market caps worth hundreds of millions.

Still, not everything in the meme coin world is sunshine and gains. Many of these tokens are driven purely by speculation, with little to no utility, roadmap, or transparency. There’s also been a rise in scams and rug pulls. So while meme coins are clearly bringing attention to Solana, they’re also risky. If you’re jumping into this space, do your homework.

ETF Rumors and Institutional Attention

The launch of a SOL-focused exchange-traded fund, combined with growing institutional attention, is where things get interesting.

Several big-name asset managers, including VanEck, Grayscale, and 21Shares, have filed to launch spot Solana ETFs in the U.S. This follows the approval of Bitcoin and Ethereum ETFs earlier in the year, which boosted overall market confidence.

Grayscale, in particular, wants to convert its existing Solana Trust into a full ETF. All these applications are currently under review, with analysts eyeing July 2025 as a possible decision window.

So, what would an ETF mean for Solana? It would mark a major step toward validation, signaling that Solana is seen as an institutional-grade asset. It could also open the floodgates for capital inflows from Wall Street firms. Likewise, retail participants seeking exposure through traditional finance (TradFi) platforms may follow.

Conclusion

Solana’s 2025 journey is shaping up to be one of comeback and evolution. The network has bounced back from past technical hiccups and is now positioning itself as a high-performance blockchain with real-world momentum. From viral meme coins to NFT drops, from scaling DeFi apps to lining up for ETF approval, Solana is in the thick of the action.

Whether you’re monitoring price action, exploring new projects, or converting SOL to fiat using a Solana price converter, one thing is clear, Solana isn’t just surviving. It’s thriving.

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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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