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bulls need to make a stand at $84.3K after 9 consecutive days of acting as resistance, $BTC broke through the 200 MA and March open, now we need to see it act as support

Solana (SOL) has seen a significant surge over the last 24 hours, surging 6% to reach $135, according to data from CoinMarketCap. This price rally comes as optimism builds around the upcoming launch of a Solana futures ETF by Volatility Shares, which is set to debut on Thursday. As a result, investor interest has spiked, with daily trading volumes soaring by 74.71% to over $3.63 billion. Crypto analyst Ali Martinez pointed out on X that Solana’s futures Open Interest has climbed to $2.7 billion, levels not witnessed since October 2024. This resurgence in the derivatives market highlights increasing participation from both traders and investors. Related: Solana at 5: Impressive Growth, But Future Hinges on Firedancer Insights from Glassnode reveal crucial price levels where Solana’s supply is concentrated. A significant support zone lies at $112.10, where a substantial 9.7 million SOL (1.67% of the total supply) is held. Notably, this level already contained 4 million SOL back on January 19th, indicating that long-term investors have been accumulating more at this price point. Below this, the $94, $97, and $100 levels collectively hold nearly 21 million SOL (3.5% of supply), making them critical for preventing further downside. However, Glassnode cautions that if these levels were to break, the downside risk could increase sharply, as there’s relatively little trading volume in the range between $94 and $56. On the upside, recent price action has led to notable accumulation at $123 (16.2 million SOL, 2.7%) and $126 (19 million SOL, 3.2%). This demand could act as a cushion against further declines. Related: BNB Chain Now Tops Solana in DEX Trading, Price Jumps However, Glassnode highlights significant resistance at the current $135 level, where a considerable 26.6 million SOL is concentrated, and further up at $144, which holds an even larger 27 million SOL—nearly 5% of the total supply. Interestingly, the $144 level already held 20.6 million SOL on January 19th. Analyzing the technical indicators, the Relative Strength Index (RSI) is currently at 45, placing SOL in the neutral to bullish territory, which suggests a potential for a price rebound. The Bollinger Bands (BB) indicate that price volatility is narrowing, often a precursor to an impending breakout. Additionally, the 20-day Exponential Moving Average (EMA) is currently at $137.37. For Solana to gain further upward momentum, it will need to reclaim this level. Until then, the 20-day EMA presents a significant resistance point for the SOL token. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The Nasdaq may soon welcome a new product: the 21Shares Polkadot Spot ETF. The investment firm has just filed a request with the SEC. This is a major advancement in the crypto ETF universe! However, the road ahead is still long. Thanks to this filing, the Nasdaq will be able to list a Polkadot Spot ETF from 21Shares . If accepted, this crypto ETF would provide investors with regulated exposure to Polkadot. All of this, without directly holding DOT tokens! In this same vein, 21Shares continues to expand its crypto ETF offerings, notably with ETFs on Solana and XRP . Moreover, the company already offers similar products in the European market. We specifically refer to the 21Shares Polkadot ETP (ADOT) which is available on: This initiative follows a broader movement, with other players like Grayscale also preparing Polkadot Spot ETFs. The SEC plays a key role in approving or rejecting this crypto ETF. The American crypto regulator indeed shows some reluctance to approve these new digital assets. Proof: it has delayed several decisions regarding XRP, Solana, and Litecoin ETFs. This regulatory caution could also affect the approval of Polkadot Spot ETFs. In practical terms, the SEC’s approval of the form 19b-4 could change the game for crypto ETFs. If Nasdaq and 21Shares ETFs get the green light, it could open the door for other digital assets. But not just that! It would also boost demand for DOT. After the filing announcement, the DOT price showed a slight increase before dropping by 1.12%. Moreover, Polkadot currently has a market capitalization of $6.7 billion. Key support levels are at $4.322 and $4.129, while resistances at $4.599 and $4.898 remain obstacles to further increases. In any case, the filing of a Polkadot Spot ETF by 21Shares and the Nasdaq marks a new milestone for institutional adoption of crypto ETFs. For investors, this represents an opportunity… and also a risky bet in an unpredictable crypto market.

The prolonged legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is nearing a crucial turning point, with potential consequences for XRP, Ripple’s native cryptocurrency. Since the lawsuit began in December 2020, the SEC has alleged that Ripple conducted unregistered securities offerings through XRP sales, an accusation Ripple has consistently denied, arguing that XRP is a digital currency, not a security. A favorable ruling for Ripple could provide regulatory clarity for the broader market, while an unfavorable outcome may lead to further legal and financial hurdles. As CNF highlighted earlier, the SEC closed investigations into Robinhood, Coinbase, and Gemini, signaling a possible shift in its regulatory approach. This has led many to question whether the agency might take a similar stance with Ripple under the new SEC leadership. In a detailed thread on X All Things XRP outlined several key developments that could unfold if Ripple secures a favorable ruling. Ripple’s recent share buybacks valued the company at $11.3 billion, fueling speculation that an initial public offering (IPO) could be on the horizon. With legal uncertainties resolved, Ripple may move forward with a public listing, providing early investors liquidity while significantly expanding the company’s market presence. According to All Things XRP, Ripple already has over 300 banking partners worldwide, but legal uncertainties may have delayed partnerships with financial institutions. Despite this, several banks, including Banco Rendimento in Brazil, SBI Holdings in Japan, and Santander in Spain, are already utilizing Ripple’s technology for cross-border transactions. With the lawsuit nearing its conclusion, the door would open for financial players like Bank of America, American Express, and Santander to officially integrate with RippleNet. As traditional banks explore blockchain solutions, Ripple’s On-Demand Liquidity (ODL) service and cross-border payment technology could make it a top choice for financial institutions seeking to enhance settlement efficiency. Ripple has been actively exploring Central Bank Digital Currencies (CBDCs) through multiple pilot programs worldwide. One of its key initiatives is a collaboration with Colombia’s central bank, Banco de la República, and the Ministry of Information and Communications Technologies (MinTIC) to test the feasibility of a CBDC on the XRP Ledger (XRPL). This pilot aims to assess blockchain technology’s potential for fast, secure, and cost-effective payments, particularly in areas like government transactions and financial inclusion. The XRP community has remained resilient and loyal through years of legal battles. The expert suggested that Ripple could reward its loyal supporters with exclusive events, giveaways, and developer incentives to further drive XRPL adoption. According to All Things XRP, regulatory clarity following a Ripple court victory could pave the way for institutional adoption, making an XRP-based exchange-traded fund (ETF) a reality. Institutional interest in XRP ETFs is growing, with 18 filings submitted to the SEC by key players such as Bitwise, Grayscale, 21Shares, Canary Capital, and WisdomTree. As we previously reported , approval of these ETFs could unlock massive institutional investment, potentially pushing XRP past key resistance levels at $5 and $10. Currently, XRP is trading at $2.32, reflecting a 2.57% increase in the last 24 hours and a 6.27% gain over the past week.