It’s a bright time for Solana, the world’s third-largest crypto. Just yesterday, Nasdaq-listed Upexi earmarked 95% of its $100M capital raise to establish a Solana treasury reserve. Also, ARK (an American investment management firm) has integrated Solana staking into two of its crypto ETFs: ARKF and ARKW. Both moves point to Solana taking its place as an institutional-backed powerhouse. And as demand increases, could Solaxy be the answer for enhanced network performance? As Solana Gains Ground with Wall Street, Solaxy Scales the Chain Reinforcing Solana’s upward trajectory, Upexi’s shares jumped 335% after announcing that a sizable portion of its funds would be held as a Solana treasury reserve. ARK’s ETFs, on the other hand, invested $5.2M to purchase 500K shares of 3iQ’s Solana Staking ETF (SOLQ) for Solana staking exposure. By doing so, they’re the first US-listed ETFs to add Solana to their portfolios. Hot on the heels of the headlines, Solana’s 24-hour trading volume is up by nearly 20% . These are all significant indicators of a positive Solana outlook. Despite this, the network might not be ready to handle the growing demand – but this is where Solaxy comes in. Solaxy Addresses Solana’s Congestion and Scalability Woes Solaxy is the first Solana L2 scaling solution. It aims to address the network’s congestion and scalability challenges. Despite Solana’s reputation for speed, handling up to 65K tps, far surpassing Ethereum’s 30 tps capacity, the network’s popularity may have backfired and has caused some slowdowns. Solaxy has a solution. As a Layer 2 blockchain, it’ll process transactions off-chain and settle them on Solana’s main net. This will boost transaction speed and reduce fees. As an Ethereum-based token, it’ll also bridge Solana’s speed with Ethereum’s liquidity. This will help facilitate seamless asset transfers between the two major blockchains. It’s good news for dApp developers and traders of the best meme coins, and could set Solana up to be home to the next crypto to explode . To harness the power of the upcoming Solana L2, you must buy $SOLX , the project’s native token. It’s already accumulated over $31M on presale, which signals strong confidence in light of increased Solana demand. Also attracting attention to the presale is the passive income potential in staking $SOLX, currently at a 130% APY. Indeed, a generous 25% of its total token supply is set aside for such rewards. An additional 30% of the overall token supply is allocated for development, highlighting the project’s dedication to innovative, sustainable growth. Solana Treasury Reserve & ETFs Boost Solaxy’s Outlook As institutional momentum surrounding Solana grows, Solaxy could gain significant traction. Its L2 scaling solution, cross-chain capabilities, and generous staking incentives could attract the investment needed to build the solution to double Solana’s efficiency. The groundwork has already been laid, and the presale is live and on fire. You can get $SOLX on presale for just $0.001702, but the price increases tomorrow Now could be a prime opportunity to jump in. Once the L2 is deployed sometime this year, our Solaxy Price Predictions have it reaching $0.032 (a 3,100% spike compared to its initial $0.001 presale price!). Even so, this isn’t investment advice. Always DYOR before making any token investments. Crypto prices can fall as quickly as they jump after being listed on the best DEXs and CEXs.
The head of research at crypto asset firm Galaxy Digital, Alex Thorn, believes the US government will add Bitcoin ( BTC ) to the Strategic Bitcoin Reserve (SBR). In an appearance on Bloomberg Crypto, Thorn says that in addition to the Bitcoin the US government holds from confiscations, the world’s largest economy will purchase BTC to add to the SBR in 2025. “In March, they had the establishment of the Strategic Bitcoin Reserve and the United States Digital Asset Stockpile Executive Order… …which specifically prohibited the government from selling Bitcoin and ordered the [Departments of] Commerce and Treasury to find out budget-neutral ways to buy Bitcoin while simultaneously prohibiting them from buying altcoins and leaving the management up to those departments for altcoins. I think a lot of progress has been made… And you’ve got Treasury Secretary Scott Bessent literally saying Bitcoin is now becoming a store of value. You’ve got a drumbeat from Bo Hines [Executive Director of the President’s Council of Advisers on Digital Assets] and David Sachs [White House AI and crypto czar]. And it just seems plausible at this point, they will buy something. There will be a buy.” On how the US government would purchase Bitcoin in budget-neutral ways for the SBR, the Galaxy Digital head of research says, “What you could do is the altcoins that are in the sell-only digital asset stockpile, you could sell some of those for Bitcoin… To be specific, you could sell an altcoin in an altcoin/BTC pair and never touch cash at all. No cash ever has to flow into the [US] general treasury. Could be an easier way to get to a ‘promises made, promises kept’ on the SBR.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Galaxy Executive Predicts That US Government Will Accumulate Bitcoin This Year To Boost BTC Strategic Reserve appeared first on The Daily Hodl .
The NFT ecosystem on Solana is facing a legal and reputational crisis as Metaplex, the leading protocol behind Solana’s NFT standard, prepares to sweep over 54,000 unclaimed SOL, worth approximately $7.3 million, into its DAO treasury. Burwick Law, the New York-based firm, known for championing investor rights in the crypto space, argues that Metaplex’s plan is not only ethically questionable but also potentially illegal. reminder that there's 3 days left until @metaplex rugs users of 54k sol (~$7.5M) metadata accounts for 23.5M NFTs are getting resized and MP is using this opportunity to steal users prepaid rent fees you can use @solincinerator to reclaim your sol until the 25th https://t.co/ovS9Ua5nG9 pic.twitter.com/RmvG5Zp5WY — ultra (@0x_ultra) April 22, 2025 The controversy centers on “resize rent,” a small amount of SOL paid by users during NFT minting to fund on-chain storage. Following a technical upgrade that allowed NFT metadata accounts to shrink in size, excess rent has remained dormant in these program accounts, unclaimed by users who were either unaware of the funds or never received adequate instructions on how to retrieve them. Metaplex now plans to transfer these funds to its treasury, ostensibly for community use such as airdrops and grants. Legal and Ethical Storm Brewing Over Unclaimed Rent In an open letter addressed to Metaplex and the broader Solana developer community, Burwick Law warned that forcibly relocating user-funded rent into a DAO-controlled treasury could amount to unjust enrichment, conversion, or even violations of consumer protection laws. **An Open Letter to @metaplex and Solana Industry Leaders** The Metaplex SOL Sweep: Why User Rent Should Flow Back to the Community, Not a DAO Treasury On April 25, 2025, the Metaplex protocol plans to relocate about 54,000 SOL in “unclaimed resize rent” from user‑funded… — Burwick Law (@BurwickLaw) April 22, 2025 The firm, which represents thousands of NFT investors, drew parallels between this case and traditional banking lawsuits in which undisclosed overdraft fees were later refunded to customers through class action settlements. According to Burwick, this precedent suggests that NFT users may be entitled to restitution if Metaplex proceeds with its sweep without offering a refund mechanism. Rather than invoking legal warfare, Burwick proposed a pause on the sweep and instead issue refunds directly to current NFT holders via a simple on-chain program upgrade. The firm suggested a 90/10 split, where the vast majority of the rent is returned to users, and a small portion, approximately 10%, is retained by the DAO as a “network maintenance bounty.” This solution, Burwick argued, would show that the Solana ecosystem is capable of self-regulating in line with Web3’s founding principles of transparency and fair dealing. As of now, Metaplex has not publicly responded to Burwick Law’s concerns. The DAO has previously stated that reclaimed SOL would be used to benefit the broader community. Legal Tensions and Industry Uncertainty Deepen Amid NFT Market Turbulence The Metaplex drama is unfolding against a backdrop of increasing volatility in the NFT sector. Just last month, Watch Skins Corporation filed a federal lawsuit against luxury conglomerate LVMH , accusing its watch brand TAG Heuer of infringing on patented NFT display technology. A company specializing in smartwatch face designs sold through NFTs has filed a lawsuit against LVMH, alleging patent infringement. #LVMH #NFT https://t.co/lhMU8pT82o — Cryptonews.com (@cryptonews) March 12, 2025 Watch Skins claims its innovation enables smartwatches to display verified NFT art and alleges that TAG Heuer encouraged customers to infringe upon these patents. Meanwhile, trading volumes in the NFT market have nosedived. February saw a 60% drop in NFT trading activity compared to earlier months , despite a brief resurgence in late 2024. According to DappRadar and CryptoSlam, total NFT sales for 2024 reached $8.83 billion, just a fraction of the $23.7 billion peak seen in 2022. Solana, which ranks third behind Ethereum and Bitcoin in total NFT sales, generated $1.4 billion, showing its growing yet fragile influence in the space. The current uncertainty is further exacerbated by the fallout from Bybit’s security breach earlier this year. The exchange, which lost nearly $1.5 billion to a North Korean cyberattack, recently announced the shutdown of its NFT and IDO platforms . @Bybit_Official shuts down NFT and IDO platforms after a $1.5B security breach, reflecting industry trends and strategic shifts amid declining trading volumes and heightened security concerns. #Crypto #NFTs https://t.co/QKghreYJu3 — Cryptonews.com (@cryptonews) April 1, 2025 Though the company attributed the closures to a desire to streamline offerings, the timing suggests that ongoing security, legal, and trust issues are prompting major players to reevaluate their NFT strategies. All these developments come at a turbulent period for the NFT market. For Metaplex, the next few days may prove decisive for the DAO’s immediate future. The post NFT platform Metaplex Faces Legal Threat Over Plan to Sweep Unclaimed SOL into DAO Treasury appeared first on Cryptonews .
XRP appeats to be back in legal crosshairs as Oregon sues Coinbase over unregistered securities, listing the token among 31 assets allegedly sold in violation of state law. In the ongoing regulatory saga, Oregon’s lawsuit against crypto exchange Coinbase has drawn attention for reviving a familiar classification: more than 30 tokens, including XRP ( XRP ), are once again labeled as securities, as noted by Paradigm’s vice president of regulatory affairs Justin Slaughter. More to come, but one thing that jumps out about the Oregon AG suit is it actually covers many more tokens than the SEC complaint did, with 31 tokens claimed to be unregistered securities, including UNI, AAVE, FLOW, LINK, MKR, and even XRP. It's a true kitchen sink lawsuit. https://t.co/PpnSqoWcgM pic.twitter.com/0ZSmPeFiwG — Justin Slaughter (@JBSDC) April 21, 2025 In an X post on Monday, Slaughter published an excerpt of the filing, reading that Coinbase has made available for trading in Oregon crypto assets that are offered as securities. You might also like: Coinbase secures more SEC documents on Ethereum 2.0 investigation The complaint lists dozens of assets by name and symbol, including Aave ( AAVE ), Cardano ( ADA ), Algorand ( ALGO ), Solana ( SOL ), Uniswap ( UNI ), and XRP. The lawsuit goes on to state that Coinbase, through the Coinbase Platform and Prime, made available for trading in Oregon crypto assets that “are offered and sold as investment contracts, and thus as securities.” These assets, the lawsuit notes, could be traded “for consideration, such as U.S. dollars, fiat currencies, or other crypto assets.” Each unit of a listed asset, it adds, “trades at the same price as another unit of that same asset.” The SEC dropped its own case against Coinbase in February 2025. Coinbase’s chief legal officer Paul Grewal called the Oregon action a “copycat,” warning it could “hinder ongoing bipartisan efforts in Congress” to pass national crypto rules. Read more: Crypto-friendly Paul Atkins sworn in as 34th U.S. SEC Chairman
As Bitcoin kicks off the week with renewed strength, climbing past $88,500 — it’s highest point since March 25, speculation is growing that an altcoin season may be just around the corner A recent X post by a well-known analyst Miles Deutscher has reignited the excitement about the upcoming altcoin season, highlighting two technical developments that may give rise to major altcoin rallies in the coming weeks. First, Deutscher highlighted a stark divergence between Bitcoin ( BTC ) and U.S. equities. While the S&P 500 has trended lower in recent weeks, weighed down by macroeconomic uncertainty and trade tensions, Bitcoin has moved decisively higher — up over 3% on Monday alone and continuing to climb past $88,500 today. Source: @milesdeutscher This divergence comes as gold recently surged to a new all-time high, briefly touching $3,500 before pulling back to $3,455 at press time. Historically, strong performance in gold precedes upward moves in BTC, reinforcing the idea that BTC may once again be viewed as a safe-haven alternative . You might also like: Gold hits new ATH at $3,390, is Bitcoin close behind? This combination of BTC breaking away from equities and reestablishing its correlation with gold is laying a foundation for altcoin resurgence, as BTC rallies often set the stage for altseason . The case is further strengthened by Deutscher’s second observation that the altcoin market cap appears to have formed a triple bottom — a bullish pattern where prices test and rebound from the same support level three times, signaling a potential trend reversal. Source: @milesdeutscher At the same time, institutional confidence in BTC appears to be increasing. U.S.-based spot Bitcoin exchange-traded funds recently posted their highest daily inflows in three months, driven by a resurgence in risk-on sentiment following Trump’s renewed threats to dismiss Federal Reserve Chair Jerome Powell. Additionally, stablecoins — a proxy for crypto liquidity — have seen significant growth over the past eight months, with Tether’s ( USDT ) market cap growing 26% and USD Coin’s ( USDC ) market cap surging 93% over the same period. This suggests that capital is continuing to flow into crypto despite the ongoing trade tensions. Still, some analysts remain skeptical about an imminent altseason. Matrixport recently pointed to the lack of dovish Fed policy and Ethereum’s declining dominance as factors that continue to dampen sustained interest in altcoins. So, if altseason is indeed on horizon, it’ll likely to take a while to materialize. The CoinMarketCap Altcoin Season Index is currently sitting at just 16 — well below the 75 threshold that typically signals altcoin season is underway. Source: CoinMarketCap You might also like: Bitcoin ETF inflows hit 3-month high amid Trump-Powell tensions
WazirX plans to reopen after court approval for its restructuring plan. The hack in July 2024 resulted in a loss exceeding $230 million. Continue Reading: WazirX Prepares for Relaunch After Major Hack, Court Approval on the Horizon The post WazirX Prepares for Relaunch After Major Hack, Court Approval on the Horizon appeared first on COINTURK NEWS .
VICTORIA, Seychelles, April 22, 2025 /PRNewswire/ — A report released by MEXC , a leading global crypto exchange, indicates that airdrop campaigns account for approximately one-third of new user registrations during peak months. The numbers showcase the effectiveness of airdrops as a marketing instrument that crypto projects can leverage to attract new audiences and bootstrap engagement. The report also highlights the importance of ongoing structural shifts taking place in the industry across regions, as well as user motivation swings. Key Takeaways: Peak user acquisition rates driven by airdrops reach up to 35% in certain months. User behavior is influencing airdrop campaign participation through deeper mobile penetration and the involvement of gamification mechanisms. 76% of users who sign up via airdrop campaigns remain on the platform , with 18% becoming active traders and 58% trading occasionally. The CIS region leads in terms of involvement at 67% , followed by Southeast Asia at 51%, and South Asia at 32%. Airdrops are evolving into a means of financial inclusion, in addition to acting as an effective marketing instrument. MEXC analyzed user behavior during airdrop campaigns and identified a significant shift in the audience. While regions with low levels of access to banking services previously served as the main source of airdrop participants, the latest report indicates that new channels of user onboarding are ousting the trend. Gamification and Tap-to-Earn games in mobile-based Telegram channels are taking center stage as key registration sources for users with no previous experience in crypto. For instance, games like Hamster Kombat attracted over 70 million users, other notable examples of similar grade being Notcoin and Yescoin. According to the data compiled as a result of the research, users who received their first airdrop tokens demonstrated varying degrees of continued involvement in the crypto industry. As many as 18% maintained active trading patterns and delved deeper into crypto services, 58% traded occasionally, while 24% were one-off users, withdrawing their funds without further engagement in trading. The users who evolve into active traders showcase an average daily trading volume above $58,000, with select ones achieving $31 million. Regional segmentation of the users attracted via airdrops shows that the CIS is in a leading position, with 67% of the total, followed by Southeast Asia at 51%, and South Asia with 32%. The results of the analysis correlate with low levels of access to banking services in the given regions. They also align with data provided by Chainalysis, which positioned India, Vietnam, and the Philippines as the countries in Asia with the highest rates of crypto adoption, driven by low levels of banking services access and rapid spread of internet coverage in rural areas. The limited financial inclusion of the countries in the indicated regions into the international banking system paves the way for cryptocurrencies to act as alternative means of payment both abroad and within domestic economies. Users participating in airdrops either withdraw them to fiat or use them for their needs. Pakistan and the Philippines are leading in this regard. The report released by MEXC highlights the prominent role airdrops are occupying in the evolving crypto landscape, transforming from a marketing action into a separate instrument for user engagement. The ability to attract 35% new user registrations via airdrops in select regions like the CIS and Asia is a powerful factor acting in favor of using the given approach to expanding the crypto industry and advancing its maturity. About MEXC Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding. For more information, visit: MEXC Official Website | X | Telegram | How to Sign Up on MEXC
The recent movement of tokens by a prominent Solana whale underscores a significant profit-making opportunity in the booming crypto market. Reportedly, this whale amassed substantial gains through a strategic staking
Paul Atkins just stepped in as the new chair of the SEC. XRP (XRP-USD), in particular, could be one of the biggest beneficiaries. The token has fou...
The blockchain’s novel “Proof of Energy” consensus mechanism aims to incentivize the transition to renewables.