Solana ( SOL ) could be poised to climb as high as $620 in the coming months, according to a trading analyst who also sees the potential for the DeFi asset to rally all the way to $1,000. This bullish outlook comes as SOL recovers from a dip on June 6, when it touched the weekly low of $141. As of press time, the token was trading at $149.52, down 1.5% over the past 24 hours. Solana is facing short-term bearish pressure, with the price lingering below the 50-day simple moving average ( SMA ) of $161 and the 200-day SMA at $164.19. A decisive break above the 200-day SMA could confirm a trend reversal and ignite renewed bullish momentum. The 14-day relative strength index ( RSI ) is 40.14, indicating mild bearish pressure without entering oversold territory. SOL’s path to $620 From a technical standpoint, analyst Master Ananda shared a TradingView post on June 6 outlining a potential path for SOL to reach $620, with a minimum target of $420 and an extended high of $1,020. After a roughly 24% correction from $188 to $141, Ananda believes the pullback phase may be over. In this case, the cryptocurrency is developing a higher low pattern, which suggests the start of a new upward trend. Meanwhile, key Fibonacci extension levels support this projection: $420 at the 1.618 level, $620 at the 2.618 level, and $1,021 at the 4.618 level. According to the forecast, the digital asset could hit the $620 mark by January 2026, a 316% increase from its current price. If this target is reached, Solana’s market cap could balloon to approximately $325 billion, potentially ranking it second behind Bitcoin ( BTC ), assuming minimal growth from Ethereum ( ETH ) during the same period. Finally, the trading expert cautioned against shorting during a bullish trend, advising instead to wait for support levels before entering long positions. Solana fundamentals Meanwhile, Solana’s broader ecosystem continues to show notable momentum. Market attention is focused on the U.S. Securities and Exchange Commission’s (SEC) decision regarding spot SOL exchange-traded fund ( ETF ) applications. The odds of approval in 2025 have surged to over 80% despite the SEC delaying its decision on proposals from 21Shares, Bitwise, VanEck, and Canary Capital. On the flip side, some skepticism remains. Banking giant Standard Chartered questioned Solana’s long-term sustainability in late May, warning in a report that the network risks becoming a “one-trick pony” dominated by memecoin creation and trading. For starters, Solana’s recent momentum was driven mainly by meme coin activity on the network. Featured image via Shutterstock The post Here’s when Solana will reach $620, according to analyst appeared first on Finbold .
Gemini, under the leadership of Cameron and Tyler Winklevoss, has confidentially filed for an IPO, signaling a significant milestone in the crypto exchange landscape. Meanwhile, Circle’s shares have surged to
Bitcoin is on the verge of triggering a massive $15 billion short squeeze, signaling potential volatility and opportunity in the cryptocurrency market. Market analysts highlight that a modest 10% increase
Tether (USDT) is quietly revolutionizing retail commerce in Latin America, with Bolivian merchants now pricing goods directly in the stablecoin, signaling a significant shift in crypto adoption. Financial analysts highlight
Tether, the world’s largest stablecoin issuer, is making quiet but significant inroads into Latin American retail markets, with Bolivian merchants now pricing goods directly in USDT. This grassroots adoption underscores the growing role of crypto in everyday commerce. Meanwhile, analysts are eyeing Tether’s booming financials—$13 billion in 2024 profits and a projected $515 billion valuation if it went public. Despite speculation from industry figures like Anthony Pompliano, Tether CEO Paolo Ardoino dismissed the need for an initial public offering, signaling confidence in the company’s private structure and expanding influence. He described it as a “quietly revolutionary shift” that shows how Tether ( USDT ) has been integrated into daily commerce. Ardoino shared images showing Bolivian shops displaying prices directly in USDT. In Bolivia, real prices in shops are displayed in USD₮. A quietly revolutionary shift: digital dollars are powering daily life, commerce, and economic stability. pic.twitter.com/dGP7I2ipxv — Paolo Ardoino 🤖 (@paoloardoino) June 7, 2025 You might also like: Crypto VC funding: Circle’s $1.1b IPO, IOST’s $21m raise lead the week Massive valuation projections spark public listing debate Financial analyst Jon Ma recently projected that Tether would rank as the 19th largest company globally with a $515 billion valuation if it went public today. This means that the company could surpass household names like Costco and Coca-Cola. Ma’s analysis points to Tether’s reported $13 billion in net profits for 2024, with $7 billion derived from Treasury securities and repos. At the same time, an additional $5 billion came from unrealized gains on Bitcoin and gold reserves. Tether valuation at 515B is a beautiful number. Maybe a bit bearish considering our current (and increasing) Bitcoin + Gold treasury, yet I'm very humbled. Also truly excited for the next phase of growth of our company. Thank you everyone❤️ https://t.co/exZc05SDwd — Paolo Ardoino 🤖 (@paoloardoino) June 7, 2025 The projection assumes USDT supply growth of $50-60 billion and an average supply of $170 billion in 2025. Responding to the valuation estimate, Ardoino called the $515 billion figure “beautiful” and also suggested it might be “bearish” considering Tether’s expanding Bitcoin and gold treasury holdings. Pompliano pushed the speculation further by suggesting a $1 trillion potential valuation. You might also like: NFT market makes a modest comeback as Bitcoin hits $105k level Tether CEO dismisses immediate IPO necessity When questioned about potential benefits of going public, Ardoino provided a short response: “No need to go public.” The statement shows confidence in Tether’s current private structure and financial performance. Source: Paolo’s X post In contrast to Circle’s choice to go public through a SPAC merger, Tether is reluctant to pursue public listing. The retail USDT integration in Bolivia highlights the general trend of crypto acceptance in Latin America. The development follows similar patterns in other Latin American markets where USDT has acted as both a store of value and a medium of exchange. USDT remains the largest stablecoin by market cap. As per CoinMarketCap data, USDT has a market cap of $154.8 billion.
The post SEC to Hold Roundtable Meeting On 9 June: “Defi and the American Spirit” appeared first on Coinpedia Fintech News The SEC’s Crypto Task Force is getting ready for its next big event – a roundtable meeting to talk about DeFi. Eventually, this important meeting was scheduled for 6 June, later rescheduled for June 9 at the SEC’s headquarters in Washington, D.C. However, the title for the event is “D efi and the American Spirit ,” drawing lots of attention from Wall Street leaders, crypto developers, and the public. DeFi: The Hot Topic on Everyone’s Mind Decentralized Finance, or DeFi , has been growing fast. People love the idea of financial tools that don’t rely on big banks or other middlemen. But as more people jump in, questions about rules and safety have also grown. That’s why the SEC is bringing everyone together to figure out how to move forward. The SEC says this meeting is part of its mission to understand how DeFi works and to decide if new rules are needed. Topics will include how smart contracts work, who controls tokens, and how automated systems can keep things fair for everyone. Open Chat with Developers and Experts Commissioner Hester Peirce, who’s leading this panel, said she wants honest talks. “We’re here to learn,” she explained in a recent briefing. She thinks that by listening to developers and the people using these systems, the SEC can find ways to protect investors without slowing down progress. At the meeting, experts will also look at how real-world assets like watches or art can be turned into digital pieces and traded on the blockchain. Big Names Of Panealist The roundtable will feature panelists from Wall Street DBA, Jito Labs, MetaLeX, Coin Center, etc. Psticaicaptes inclined Michael Jordan, Co-founder of DBA, Rebecca Rettig, CLO of Jito Labs, Gabriel Shapiro, CEO of MetaLeX, Peter Van Valkenburg,h Director of Coin Center, and many more.
Sui set a new milestone in decentralized exchange (DEX) activity in Q1. According to Messari’s report, the network’s average daily DEX volume hit an all-time high of $304.3 million, a 14.6% quarter-over-quarter increase. Cetus and Bluefin emerged as the dominant players, which contributed a combined $239.5 million in daily volume, while smaller DEXs like Kriya, DeepBook, and Turbos helped diversify liquidity sources. The spike in on-chain trading signals a maturing DeFi ecosystem, even as Sui’s native token, SUI, underperformed the broader market. SUI Underwhelming Performance in Q1 Messari revealed that SUI’s circulating market cap fell 40.3% to $7.2 billion, which is far steeper than the crypto market’s overall 18.2% dip during the same period. Despite this, Sui climbed two spots to become the 13th-largest cryptocurrency by market cap. On the other hand, Sui’s network fees, which comprise gas fees from transaction execution, including computation and non-refundable storage costs, fell sharply in the first quarter of 2025. Total fees dropped 33.3% quarter-over-quarter to $3.6 million, or 1.0 million SUI. While the 40.3% decline in SUI’s market price contributed to the drop in fee revenue when measured in dollars, the 44.4% decline in fees denominated in SUI suggests that reduced on-chain activity and lower user demand also played a significant role in the overall decrease. Validator payouts were directly impacted by the slowdown. DeFi and NFT Activity on Sui Beyond DeFi, NFT activity remained strong on Sui. Total NFT trading volume reached 13.2 million SUI since the mainnet launch. Leading platforms such as Clutchy, TradePort, and BlueMove drove marketplace traction. Additionally, collections such as Fuddies and SuiFrens: Bullsharks and Capys dominated trading. During the same period, Sui also saw institutional engagement ramp up notably. Grayscale’s addition of SUI to its Smart Contract Platform Ex-Ethereum Fund in January marked a turning point, which signaled validation from a top digital asset manager. By February, Libre Capital launched its Libre Gateway on Sui, which allowed tokenized access to hedge fund strategies, including offerings from Brevan Howard and BlackRock. In March, World Liberty Financial announced its decision to partner with Sui. This was followed by yet another notable regulatory development in the same month, when Canary Capital filed for the first US-based SUI ETF. Meanwhile, Sui’s strong decentralized exchange momentum has faced significant headwinds in Q2 following a major exploit on Cetus Protocol. On May 22nd, a $223 million attack compromised Cetus’ Concentrated Liquidity Market Maker (CLMM) pools, significantly disrupting trading activity. While the protocol has pledged full user compensation, supported by its treasury and a strategic loan from the Sui Foundation, the recovery depends on an on-chain community vote to unlock $162 million in frozen assets. The post Sui Hits New DEX Volume High: Cetus, Bluefin Fuel Growth appeared first on CryptoPotato .
Grinex, the suspected rebrand and successor to the sanctioned Russian platform Garantex, reportedly moved over $1.2 billion in USDT through crypto exchanges. Grinex’s massive transactions occurred despite being the suspected successor of the sanctioned Russian platform Garantex, blockchain analytics firm Global Ledger reports. Garantex Reportedly Rebrands as Grinex Alarm bells have been raised after Grinex, the rebrand of Garantex, reportedly moved over $1.2 billion in USDT through crypto exchanges. According to blockchain analytics firm Global Ledger , Grinex’s incoming and outgoing transaction volumes have exceeded $1.2 billion in USDT within weeks of its launch. Following a global law enforcement effort in March 2025, the notorious Russian exchange platform Garantex was dismantled. Garantex was one of the most prolific platforms on which illicit cryptocurrency operations took place. Global Ledger that Grinex emerged as Garatex’s likely replacement after the crackdown. The Fall of Garantex On March 6, 2025, a large-scale global law enforcement seized Garantex’s primary domain. The Russian exchange has a long history of alleged involvement in illicit crypto transactions, leading to sanctions by the US Office of Foreign Assets Control (OFAC) in April 2022. In February 2025, the UK followed suit, sanctioning Garantex and six associated crypto addresses. According to Global Ledger's findings, Garantex continued its involvement in illicit operations. “Since its designation by OFAC on April 5, 2022, Garantex has been responsible for over USD 100 billion worth of transfers, accounting for over 70% of volume to and from sanctioned entities and jurisdictions during that time. The exchange has continued to facilitate hundreds of millions of dollars in illicit transactions for criminal actors, sanctioned entities, and individuals.” Garantex was most recently associated with eight crypto wallets linked with Houthi military operations. Grinex’s Operations An investigation by Global Ledger reveals that significant funds have moved between Grinex and numerous licensed exchanges. Many of these licensed exchanges enforce AML and KYC standards, raising concerns about compliance risks. In its publishing, Global Ledger detailed: “As of May 23, inbound and outbound USDT (Tron) transactions have surpassed $1.2 billion each. These aren’t speculative wallet movements or isolated whale trades. The volume represents a complex web of high-frequency inflows and outflows, much of it tied to major exchanges that are supposed to “flag” this kind of activity.” Correction: Research and findings are attributed to an investigation conducted by Global Ledger. Find the report here. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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