Solana News Update: Institutional Shift Toward Bitcoin Diminishes Solana ETF Progress
- Solana's price fell to $182 on Oct. 30, its steepest drop since Oct. 10, after Jump Crypto sold $205M in SOL for Bitcoin. - Despite $199M inflows into new U.S. Solana ETFs, Bitcoin ETFs saw $191.6M outflows, showing institutional capital shifting to Bitcoin. - Jump Crypto's 1.1M SOL-to-BTC conversion highlighted a "flight to safety" amid trade negotiations, while Solana's staked value dropped 29.65% in 30 days. - Grayscale's Solana Trust ETF conversion and Hong Kong's approval signaled growing institutio
On October 30, Solana’s value dropped sharply to $182, experiencing its largest single-day decline since the market crash on October 10. This plunge followed Jump Crypto, a major institutional trading firm, offloading $205 million worth of
Jump Crypto’s decision to swap 1.1 million SOL for 2,455 BTC was described as a “flight to safety” amid increased volatility ahead of U.S.-China trade talks, according to Yahoo Finance. The company, which has 73% of its staked assets in SOL, saw its total staked value fall by 29.65% over the past month, the report noted. Analysts linked the negative outlook to derivatives trading, with Solana futures volume climbing 7% to $32.61 billion and open interest rising 2.28% to $10.32 billion, as per Yahoo Finance. The long/short ratio of 0.93 suggested that short sellers were dominant during Solana’s 6% spot price drop, the report added.
The ETF-driven shift in capital wasn’t limited to institutions. Reliance Global Group increased its digital asset portfolio by purchasing SOL, adding to its existing Bitcoin,
Even with the price drop, institutional interest in Solana continued to grow. Grayscale’s planned conversion of its Solana Trust into an ETF and Hong Kong’s approval of a spot Solana ETF pointed to increasing global recognition, the Kaupr article stated. Kronos Research’s Vincent Liu noted that the popularity of Solana ETFs reflected a search for yield-focused alternatives to Bitcoin and Ethereum, according to Bitget. However, technical signals were mixed: Solana’s price failed to break through the $200 resistance, with crucial support levels at $193 and $177.33 being closely watched, as analyzed in
The market’s current dynamics—shaped by ETF inflows and institutional repositioning—highlight Solana’s dual role as both a growth asset and a speculative arena. As regulatory frameworks become clearer and staking innovations advance, the cryptocurrency sector appears set for an extended period of risk and reward adjustment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Dogecoin Latest Updates: Massive Whale Sell-Off Triggers DOGE Plunge as $0.18 Floor Collapses
- Dogecoin fell below $0.18 as whale selloffs and institutional offloading intensified, triggering bearish momentum. - On-chain data showed 440M DOGE liquidated by mid-tier holders, with technical indicators like death crosses confirming downward pressure. - Analysts warn $0.18 support failure could drive prices toward $0.07, while top-tier holders increased supply share to 19.46% amid selloff. - Upcoming $17.8M DOGE unlocks and Fed policy trajectory may influence volatility, with traders treating rallies
Litecoin Shows Bullish Signs Despite 5% Drop: Will a Break Above $105 Spark a Major Rally?
- Litecoin (LTC) shows bullish signals as Bollinger Band Width hits record lows, with Tony Severino highlighting a "Hammer" candle above the band for a positive bias. - Technical indicators suggest a potential 30% rally to $137 if LTC breaks $105, supported by $4.08M in exchange outflows and skewed derivatives activity favoring long positions. - Analysts project ambitious targets ($300–$2,000) citing consolidation and MWEB upgrades, though warnings of short-term $30 pullbacks and mixed price action ($94, -
Solana News Update: Institutions Rush to Solana’s Returns as Fintech Firms Struggle with Earning Profits
- SoFi Technologies, a fintech leader, reported $2.34B revenue in 2024 (up from 2021) but faces ongoing net losses (-$113.3M) amid expansion into AI ETFs and blockchain services. - Mono Protocol's $2.83M presale targets 1,011% returns, leveraging WalletConnect and Chainlink partnerships to compete in Web3 infrastructure. - Solana attracts 81% staked SOL (7% yield) and $417M ETF inflows, outpacing Ethereum in institutional adoption despite Ethereum's $12B real-world asset lead. - Regulatory uncertainty pers
Bitcoin News Update: DeFi Faces Confidence Challenge as $110M Balancer Breach Exposes Widespread Weaknesses
- Balancer's $110M DeFi pool exploit drained $128M across multiple chains, triggering market panic and BAL token crashes. - Forks like Beets Finance and Berachain halted operations, while PeckShield linked the breach to admin key flaws or shared contract vulnerabilities. - BTC/ETH/SOL prices fell as traders de-risked, with BAL facing bearish technical outlooks and potential $0.80 support levels. - 2025 DeFi losses now exceed $2.8B, exposing systemic security gaps as regulators and institutions scrutinize s
Trending news
MoreCrypto prices
More
