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Solana Nears $150 Breakout: Bulls Set Sights on $215

Albert Brown
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Solana Nears $150 Breakout: Bulls Set Sights on $215

Key indicators suggest a potential breakout as Solana approaches the critical $150 resistance level. Can the bullish momentum push Solana past this mark and trigger a new rally?

With Bitcoin prices fluctuating around the $88,000 level, the altcoin market remains on edge. Amid this uncertainty, Solana continues its steady recovery, eyeing a breakout above $150.

With an intraday gain of 2.21%, Solana trades at $139.58. Will this short-term recovery surpass the $150 supply zone and ignite a significant trend reversal?

Solana Price Analysis Suggests $150 Breakout Rally

On the daily chart, Solana’s price action suggests that the ongoing pullback phase may be nearing its end. The recent recovery from the $105 horizontal support level has led to a breakout above the local resistance trendline.

Solana Price Chart
Solana Price Chart

So far, the recovery has pushed past the 23.60% Fibonacci retracement at $130 and the 50-day EMA at $136.

Currently, the price is slightly above the 50-day EMA, hinting at a potential morning star pattern formation. This represents a successful retest of the dynamic resistance-turned-support level and a possible surge toward the $150 supply zone.

The overhead resistance coincides with the 38.20% Fibonacci retracement level. Meanwhile, the declining 100-day EMA is gradually approaching this critical supply area.

This zone marks a key resistance level for Solana, and a breakout here could trigger a major bull run. The rising daily RSI, which has moved above the midpoint, supports this scenario, suggesting increasing bullish momentum. All signs point to the potential for a strong upward breakout.

The initial price target for this breakout is the 50% Fibonacci retracement, near the 200-day EMA at $163. A sustained rally could push prices even higher, toward the 78.60% Fibonacci level at $215.

Key Developments in Canadian Solana ETFs

Cathie Wood’s ARK Invest made history with its first direct investment in Solana through the Canadian-based Solana Staking ETF, the SOLQ ETF. As a result, ARKW and ARKF have become the first U.S.-listed ETFs to include Solana in their portfolios.

This highlights Cathie Wood’s strong pro-crypto and pro-Solana stance. It also heightens anticipation for a potential Solana ETF listing in U.S. markets.

Elsewhere, Bloomberg ETF analyst Eric Balchunas noted that 72 crypto-related ETFs are currently awaiting approval from the U.S. Securities and Exchange Commission. These ETFs span a range of cryptocurrencies, including XRP, Litecoin, Solana, and Dogecoin.

The likelihood of these ETFs gaining approval has risen significantly following the appointment of pro-crypto advocate Paul Atkins as chairman of the U.S. SEC.

Whales Acquire Solana Amid Pump.fun’s Supply Dump

Amid Solana’s ongoing recovery, significant on-chain activity has pointed to renewed interest from large investors. Galaxy Digital, in particular, appears to be doubling down on its Solana position, having recently sold off Ethereum holdings to do so.

Over the past two weeks, Galaxy Digital has deposited 65,600 ETH (worth $105 million) to Binance and withdrawn 752,240 SOL tokens valued at approximately $98.37 million in return.

Additionally, a well-known crypto whale who previously sold Solana between April 9 and April 13 has re-entered the market. During the selling period, the whale offloaded 451,594 SOL (worth $51.86 million USDC). However, the same entity recently purchased 374,161 SOL from Binance, worth $52.78 million, re-entering the market at $141 in a bold move that defies the usual “buy low, sell high” strategy.

 

Meanwhile, Pump.fun continues to release large volumes of Solana into the market. In the past 24 hours alone, it has deposited nearly 96,000 SOL tokens (worth $13.34 million). This brings its total sales for 2025 to 1.818 million SOL, valued at approximately $324.06 million.

How Far Can $1,000 in Shiba Inu Go, Here are the Returns If SHIB Reaches $0.00005 or $0.0001

Lele Jima
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How Far Can $1,000 in Shiba Inu Go, Here are the Returns If SHIB Reaches $0.00005 or $0.0001

Investing $1,000 in Shiba Inu today could give investors significant returns if SHIB’s price increases massively to $0.00005 or $0.0001. 

Despite the relief rally observed across the broader crypto market, Shiba Inu has remained static at $0.000012. SHIB plunged to this level on April 1, 2025, and has struggled to break above it ever since. 

Although SHIB’s recent performance has been disappointing, it has not prevented investors from believing in the asset’s prospects. As previously reported, top crypto investor Patrick Schmitt speculated that SHIB might replicate its April 2021 performance and trigger the next leg of this season’s bull rally. 

This speculation sparked a debate among SHIB investors, with some setting different price targets for Shiba Inu for this cycle. While some set a conservative target of $0.00005, others believe SHIB would reach a new ATH of $0.0001. 

Shiba Inu Path to $0.00005 and $0.0001 

For many investors, Shiba Inu’s potential surge to $0.00005 and $0.0001 targets is within reach. Reaching the $0.00005 target would require a surge of 297% from the current price of $0.00001259, while the $0.0001 mark demands a 694% rally. 

At the $0.00005 and $0.0001 targets, SHIB’s market cap would rise to $29.46 billion and $58.92 billion, respectively, from the current valuation of $7.41 billion. 

The $0.0001 milestone would mark a new all-time high for the canine-themed token. While the $0.00005 projection is not new, the last time SHIB traded around this level was in late 2021, shortly after it clinched an ATH target of $0.00008845. 

$0.00005 and $0.0001 Predictions 

Interestingly, several experts predict that SHIB will revisit the $0.00005 target this cycle, while others forecast that Shiba Inu’s price could reach $0.0001 within this timeframe. 

$0.00005 Forecasts 

Notable crypto expert Dollars Maker predicted in December 2024 that an upsurge to the $0.00005 region for SHIB. Before this forecast, famous market watcher Alex Clay forecasted that the post-election market rally might push SHIB’s price to $0.00005685. 

None of these predictions has come to fruition. Nonetheless, Changelly experts speculate that SHIB would trade at the $0.00005 region by July 2027, two years from now. 

$0.0001 Predictions 

Although SHIB has never reached the $0.0001 target in its lifetime, some analysts are confident that Shiba Inu will clinch the target this season. Experts who share this sentiment include Eunice Wong, Bunchhieng, and Oscar Ramos. 

Notably, Changelly experts believe it might take a while before SHIB clinches the psychological target of $0.0001. According to them, the $0.0001 target would come to fruition by July 2029, four years from now, with SHIB projected to reach a maximum price of $0.000103 by then. 

Worth of $1,000 SHIB Investment at $0.00005 or $0.0001 

Amid this soaring optimism, we estimated the value of a $1,000 stake if SHIB clinches any of the milestones. Notably, Shiba Inu is trading within the $0.000012 mark, with a token currently priced at $0.00001259. 

At the current price, a $1,000 stake in Shiba Inu would fetch 79.42 million SHIB tokens. This 79.42 million SHIB would soar to $3,971 if the price rises to $0.00005, and $7,942 should the price clinch the $0.0001 psychological target. 

A target price of $0.00005 would yield a return of $2,971, while a $0.0001 prediction could deliver $6,942—all from a $1,000 investment in SHIB.  

Despite how lucrative this analysis might seem, whether SHIB will reach the $0.00005 or $0.0001 targets within the projected timeframes remains uncertain.

The asset could also surpass investors’ expectations and aim for lofty targets this cycle. Several factors, including favorable market conditions and widespread adoption, would drive such a feat. 

‘XRP Myth That Refuses to Die’—Pundit Says, Let’s Clear This Once and for All

Abdulkarim Abdulwahab
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‘XRP Myth That Refuses to Die’—Pundit Says, Let’s Clear This Once and for All

Widely followed community figure “All Things XRP” has taken to social media to dismantle one of the most persistent myths in the crypto space: the claim that more XRP can be printed.

In a detailed 10-point thread, the XRP advocate outlined why the token’s supply is immutable, transparent, and decentralized. He also clarified why fears of inflation or hidden minting mechanisms are entirely baseless.

Contrary to speculation, XRP’s entire supply of 100 billion tokens was pre-mined at the launch of the XRP Ledger (XRPL) in 2012. There has never been a minting function in the ledger, and no mechanism exists to introduce new XRP tokens.

Instead, XRP’s supply is deflationary over time, as the network burns a small portion of tokens with each transaction fee.

Decentralized Governance Prevents Supply Tampering

Furthermore, the commentator highlighted that a decentralized group of independent validators governs XRPL. Ripple, often mistakenly assumed to have central control, operates less than 10% of validator nodes.

Any protocol-level changes, including hypothetical changes to supply, would require over 80% validator consensus sustained over two consecutive weeks. Such a move has never occurred, and many consider it economically and politically implausible.

Notably, developers can technically fork open-source projects like the XRPL to create new versions. However, any forked chains attempting to create “new XRP” would lack legitimacy, validator support, and market relevance.

Most of Ripple’s XRP Holdings are in Escrow

Although Ripple holds a significant amount of XRP, it cannot arbitrarily release tokens into circulation. As of now, Ripple has 36 billion XRP in monthly escrows, with a maximum of 1 billion XRP released per month. Notably, the firm sends unused XRP back to escrow.

This escrow system is transparent and verifiable on-chain, ensuring Ripple cannot flood the market even if it wanted to.

Economic Incentives Make Inflation Irrational

The post also tackled a fundamental economic point: printing more XRP would be self-destructive for anyone with a stake in the ecosystem. Increasing the supply would dilute value, destroy trust, and damage Ripple’s own holdings.

“They’re a business, not idiots,” the tweet notes, stressing that inflation would be economic suicide for Ripple and harmful to the broader XRP community.

Interestingly, there have even been heated arguments about Ripple burning the XRP it holds in escrow, further weakening the argument for inflation.

Proponents of this burning strategy hope it will lead to a major price surge for XRP, rewarding holders. However, Ripple CTO David Schwartz previously cited the incineration of half of XLM’s supply, which failed to impact prices, as evidence that a similar XRP burn would be ineffective.

Bottom Line

Ultimately, the commentary stresses that no one, not Ripple, not validators, not developers, can mint new XRP, and such a move would offer no conceivable advantage to XRP stakeholders. Instead, the coin follows a deflationary model alongside its fixed supply.

Cardano Is Not Dead: Top Analyst Predicts 1,000% Rally to $7

Elendu Benedict
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Cardano Is Not Dead: Top Analyst Predicts 1,000% Rally to $7

Cardano could be up for a scintillating rally, as recent analysis suggests the asset could rally over 1,000% to unprecedented prices.

Although Cardano failed to close above a recent symmetrical triangle on Monday, its push above $0.634 today has seen it trend back above the structure again. Notably, an earlier report suggested that ADA could rally over 27% to $0.801 if the breakout holds.

Interestingly, a new analysis has predicted that the layer one token could post more upside. Specifically, prominent crypto commentator Jad Mubaslat, known as Deezy on X, predicted an over 1,000% upsurge to around the $7 mark.

Cardano Ready to Rally?

In his April 21 X post, Mubsalat urged Cardano holders to remain patient and HODL amid the recent price uncertainties. For context, ADA is down 52% from last year’s high of $1.327 and 80% from its all-time high of $3.160.

According to him, Cardano is on pace for a nearly 10x rally to uncharted territory. Notably, an accompanying chart shows that ADA’s possible rally stems from its historical price action in the last two cycles.

Cardano to $6.4/Deezy

For perspective, the asset has peaked at an ascending trendline in the last two cycles, which has persisted since its market debut. The trendline provides a precedent to determine its price top.

For context, in each bull market rally, Cardano usually hits its market top when it rallies to retest this ascending trendline. This occurred in January 2018 when ADA hit the then-peak of $1.31 along the trendline.

In addition, the asset retested the trendline again in August 2021, when it soared to the 2021 ATH of $3.1. Citing this historical context, Mubsalat has tipped Cardano to replicate the previous run, predicting a visit to the supply line soon.

Notably, if ADA replicates the feat, the chart shows it would surge 1,071% to a new all-time high of $7.09. Interestingly, this aligns with a prediction from prominent analyst Tim Warren, who highlighted two factors that could push the token to the price mark.

Cardano Is Not Dead: Analyst

Furthermore, analyst Crypto Patel has insisted that Cardano is not dead. He suggested that the 10th largest cryptocurrency by market cap is loading up for a 688% rally to $5, another new high for the token.

Meanwhile, Patel stressed that the setup for this rally is straightforward, highlighting the importance of patience for its fruition. An accompanying chart shows that ADA trades in an ascending channel, with a similar price action propelling its rally to the 2021 all-time high.

Cardano Analysis/Crypto Patel

The analyst confirmed that Cardano boasts its major support at $0.45, highlighting an accumulation phase between $0.45 and $0.65, before a rally to three targets. Per the analysis, the targets are $2, $4, and $6.

As 72 Crypto ETFs Await Approval, Here Are SEC’s Final Deadlines for XRP ETF

Lele Jima
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As 72 Crypto ETFs Await Approval, Here Are SEC’s Final Deadlines for XRP ETF

XRP community figures have highlighted the final deadlines for the SEC decisions on the multiple spot-based XRP ETF applications. 

In recent weeks, XRP community members have deliberated on whether the U.S. SEC would approve a spot exchange-traded fund (ETF) for the coin this year. 

This comes as the number of asset managers seeking to launch XRP ETFs soars tremendously. Over 10 asset managers have submitted S-1 applications to the SEC to launch XRP ETFs in the U.S. 

Some of these firms include Grayscale, 21Shares, Bitwise, Canary, WisdomTree, CoinShares, and Franklin. Several exchanges, including Cboe and NYSE Arca, have also submitted 19b-4 filings to the SEC to list and trade shares of these XRP ETFs. 

SEC Recent Decisions 

Amid the growing institutional interest in XRP, popular community figure “GA Spark” has highlighted the final deadline for the SEC to decide whether to approve or disapprove the funds. 

These deadlines went live after the SEC acknowledged the applications of XRP ETFs. The SEC must issue its decision on the filing within 240 days from the date of the acknowledgment.  

The regulator postponed its April 13 decision for several filings, including VanEck, REX‑Osprey, Tuttle Capital, and ProShares. After the postponement, XRP enthusiasts anticipate the final decision on the other applications. 

Final Deadline 

According to a table provided by GA Spark, the SEC has a final deadline of October 18, 2025, to approve or disapprove Grayscale’s application to convert its XRP Trust to a spot-based ETF. 

Likewise, the SEC must decide on the 21Shares XRP ETF filing by October 19, while Bitwise’s is on October 20, 2025. Canary’s deadline is October 24, with the following day, October 25, set as the final deadline for the SEC’s decision on WisdomTree, CoinShares, and Franklin’s XRP ETF filings. 

Although each ETF has its own final deadline, the SEC could pick a date within the approval window to decide the fate of the applications. Recall that the SEC made a similar move last year when it approved multiple spot-based exchange-traded funds for Bitcoin and Ethereum. 

Investors Optimistic About XRP ETF Approval This Year 

In the meantime, Polymarket bettors believe there is a 79% chance that the SEC will approve XRP ETFs by year-end. However, the approval odds for July 31 currently stand at 43%, representing a decline of 10% over the past day. 

The community is optimistic that the U.S. SEC will approve at least one XRP ETF this year. This optimism stems from the agency’s current shift toward crypto regulation, which has been favorable to the industry compared to what was observed in the past administration. Whether this will happen remains to be seen.

72 Crypto ETFs

Meanwhile, the XRP ETFs are among 72 crypto spot-based exchange-traded funds awaiting the SEC’s approval. According to Bloomberg ETF analyst Eric Balchunas, some of these funds are tied to cryptos such as Solana, Dogecoin, Cardano, Litecoin, and Official Melania meme coin.

President Trump to Attend Second Private Swearing-In of Paul Atkins as SEC Chairman

Albert Brown
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President Trump to Attend Second Private Swearing-In of Paul Atkins as SEC Chairman

President Donald Trump is set to attend a private swearing-in ceremony for Paul Atkins, the newly confirmed Chairman of the U.S. Securities and Exchange Commission. 

The ceremony will take place today at 4:00 PM ET in the Oval Office, according to Trump’s official schedule shared by journalist Eleanor Terrett.

Atkins, who President Trump nominated in January 2025, officially assumed the role on April 21 after receiving Senate confirmation earlier this month.

Paul Atkins’ Nomination and SEC Role

As Atkins takes over the leadership of the SEC, he will oversee the nation’s financial regulatory landscape. His appointment is pivotal as he works alongside fellow commissioners and the SEC staff to maintain fair, orderly, and efficient markets. The agency’s mission also includes protecting investors and facilitating capital formation. 

Atkins’ professional experience spans various sectors. He has a notable history of contributions to financial regulation and policy development. He served as a Commissioner for the SEC from 2002 to 2008 under President George W. Bush.

In his new role, Atkins is expected to bring his expertise, especially in the emerging field of digital assets. Notably, he played a significant role in developing best practices for the crypto sector, helping lead efforts at Patomak Global Partners, a firm he founded.

In addition, his involvement with BATS Global Markets and his work on the Congressional Oversight Panel for the Troubled Asset Relief Program further demonstrate his deep financial regulatory background.

Challenges During the Confirmation Process

Atkins’ confirmation faced delays due to the need to file additional financial disclosures following his marriage into a billionaire family. 

These disclosures reportedly included up to $6 million in crypto-related investments, such as stakes in Anchorage Digital, a crypto custody platform, and Securitize, a blockchain tokenization platform. 

Despite these delays, he was confirmed by the U.S. Senate on April 9, 2025, and is now positioned to shape the future direction of the SEC.

A New Era for Crypto 

The SEC, under Atkins’ leadership, faces a crucial year in the regulation of digital assets. The agency currently has over 70 exchange-traded fund (ETF) applications related to cryptocurrencies under consideration, including proposals involving assets like XRP, Solana, and Litecoin.

Analysts, including Bloomberg’s James Balchunas, have indicated that this year is expected to be a wild one for digital assets.

Atkins’ appointment comes amid shifts in the SEC’s enforcement approach. Under the leadership of former SEC Chairman Gary Gensler, the agency pursued a number of high-profile crypto-related enforcement actions.

However, the current SEC has dismissed several ongoing probes. These include investigations into major platforms like Coinbase, Uniswap, Consensys, and Gemini, signaling a potential change in approach.

Market Expert Reveals Why BlackRock Has Not Yet Filed for an XRP ETF

Sam Wisdom Raphael
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Market Expert Reveals Why BlackRock Has Not Yet Filed for an XRP ETF

A market expert has shared several reasons why BlackRock has not yet filed for an XRP ETF despite multiple filings from other asset managers.

Despite a growing wave of institutional interest in XRP-backed exchange-traded funds (ETFs), BlackRock, the world’s largest asset manager, has yet to throw its hat in the ring. 

For context, multiple asset managers such as Grayscale, Bitwise, and Canary Capital have collectively filed to launch about 15 XRP ETF products, including spot and leveraged ones, the most for any single asset. However, BackRock remains hesitant.

A recent breakdown by the analyst behind the “XRP Investing” account on X reveals a look at why BlackRock continues to sit on the sidelines, even as competitors like Grayscale, Franklin Templeton, and Bitwise step forward with filings.

Little Incentive, Regulatory Overhang, and Liquidity Factors

According to the analyst, one of the major reasons is the firm’s current dominance in the Bitcoin and Ethereum ETF space. With their iShares Bitcoin Trust crossing $30 billion in assets under management and the Ethereum ETF reaching over $1 billion within just two months, the company sees little incentive to shift focus to a less established asset like XRP.

Notably, another point of concern is regulatory overhang. Although both the Ripple and SEC have agreed to drop their appeals, the lawsuit hasn’t officially concluded. 

For a conservative institution like BlackRock, the lingering uncertainty remains a sticking point. Institutions tend to be risk-averse, and the SEC’s past classification of XRP as a potential security still casts a shadow.

Moreover, BlackRock appears to be applying internal benchmarks that XRP hasn’t yet satisfied. These include factors like liquidity, institutional demand, and overall legal clarity. While XRP has shown progress in all areas, the asset reportedly falls just short of the firm’s threshold for a new ETF product.

Patience, Past Fake XRP ETF Filing, and Market Position

Speaking further, the analyst also pointed to patience. Notably, rather than being the first to file, BlackRock seems comfortable allowing competitors such as Grayscale and Franklin Templeton to test the waters. It will observe how the SEC responds to those filings and gauge overall market appetite before entering the XRP ETF space later.

Meanwhile, another reason for its hesitation dates back to a fake XRP ETF filing in November 2023 that falsely linked BlackRock to the product. That incident caused confusion and forced the firm to deny involvement publicly. 

According to the analyst, that episode may have contributed to BlackRock’s current cautious stance, especially in terms of public perception.

Further, XRP’s current market share also plays a role. Bitcoin and Ethereum still dominate the crypto landscape, making up the lion’s share of trading volume and institutional interest. 

Compared to these leaders, XRP’s lower liquidity and smaller footprint make it a less compelling option for a firm seeking to launch high-demand products. However, XRP is gradually gaining ground, having outperformed ETH by 262% since last November. XRP is currently $74 billion away from overtaking Ethereum in market cap rankings.

Additionally, “XRP Investing” suggested that another factor leading to BlackRock’s delay is likely a lack of demand among institutional clients. 

For context, the asset manager typically builds products in response to client demand, and at present, the analyst believes that demand does not appear strong enough to warrant action. Nonetheless, Bitwise CIO Matt Hougan previously noted that they are witnessing massive demand for XRP products from their clients.

Is BlackRock Playing the Long Game?

Lastly, the analyst stressed that BlackRock is likely playing the long game. Rather than jumping into a still-uncertain market, the firm is waiting for XRP to achieve greater regulatory clarity and for rival products to prove successful. 

Last January, FOX Business’s Charles Gasparino noted that BlackRock had no plans to launch an XRP ETF. However, industry figures such as Nate Geraci from The ETF Store have suggested that a filing could still happen, but only once the Ripple vs. SEC legal battle fully concludes.

Coinbase Takes XRP to Next Level, Launches CFTC-Regulated Live XRP Product

Elendu Benedict
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Coinbase Takes XRP to Next Level, Launches CFTC-Regulated Live XRP Product

Coinbase has announced that the landmark CFTC-regulated XRP futures product is now live on Coinbase, opening the path for further institutional exposure.

The leading US-based, publicly listed crypto exchange announced on Monday that XRP is now live for trading on its derivative platform. It becomes one of the major exchanges to list the rare product after Bitnomial launched the first-ever in the United States last month.

Remarkably, the Coinbase standard contract for XRP, which it describes as “one of the most liquid digital assets,” is 10,000 XRP, while retail-focused contracts stand at 500 XRP.

Analyst Highlights Perks of XRP Futures on Coinbase

Meanwhile, market observers have deemed the listing a bullish development for XRP, adding to user traction towards the ecosystem. Particularly, XRP community figure, “XRP S0IDierR,” took to X to highlight some of the perks associated with the derivative debut on Coinbase.

Firstly, he emphasized that Coinbase’s futures listing is more than just another exchange adding support for XRP; it would unlock institutional presence for the XRPL native token.

Considering Coinbase’s status as a widely used exchange among institutions, hedge funds, and market makers, the commentary stressed that the XRP futures debut on Coinbase would provide greater access and exposure to the asset.

Furthermore, the analyst noted that XRP futures on Coinbase would bring large-scale liquidity, with increased trading activity likely to spur considerable price action. Meanwhile, he emphasized infrastructure, stating that the CFTC-regulated derivative market is often a precursor to institutional products, such as exchange-traded funds (ETFs).

Interestingly, while XRP ETFs have gained momentum in the US with multiple spot filings and the recent debut of the first leveraged XRP ETF, the commentary suggests more could follow. Growing liquidity and utility breed not just ETFs but also other structured products, such as the options market.

XRP Network Activity Suddenly Jumps 67.50%

Meanwhile, the XRP ecosystem is already experiencing massive network activity, suggesting renewed interest. After a few weeks of dwindling users, the number of active addresses on the XRP Ledger jumped 67.5% on Sunday.

Number of Active Addresses on XRPL

For context, the number moved from 27,352 to 40,366 active wallets in 24 hours, indicating growing network usage and possible trading activities. Meanwhile, while prices started brightly yesterday, the asset has retraced considerably in the past 24 hours to trade at $2.07 today.

3 Top Institutions Offload 72,100 Ethereum to Exchanges: What’s Going on?

Albert Brown
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3 Top Institutions Offload 72,100 Ethereum to Exchanges: What’s Going on?

Three leading institutions, Galaxy Digital, Paradigm, and Ethereum Foundation, have transferred 72,100 Ethereum to exchanges in recent weeks.

Their movements coincide with Ethereum’s price slipping below the $1,570 mark after briefly touching $1,648 on April 21. Notably, the dip follows a pattern similar to Bitcoin’s price movements. 

Ethereum is trading at $1,581 at press time, reflecting a 3.75% decline in the last 24 hours and a 3.92% drop over the past seven days. As Ethereum’s price faces a new downturn, large holders are moving their ETH tokens to exchanges.

Recent data from Lookonchain shows significant transfers of Ethereum from major institutions, signaling potential selling intentions. Notably, Galaxy Digital has moved over 65,600 ETH, worth approximately $105 million, onto Binance in the past two weeks.

Is Galaxy Digital Selling Ethereum to Buy Solana?

Galaxy Digital’s transfers ranged from 2,500 to 12,500 ETH per transaction and are believed to be part of a strategic ETH-to-SOL (Solana) swap.

Notably, the firm withdrew 752,240 SOL, worth about $98.37 million, from the Binance exchange. This transaction followed the earlier deposits of ETH into the exchange. Now, its wallet holds just 55,760 ETH and substantial holdings in Solana and other assets.

Withdrawing assets into exchanges is often bearish, as it increases the supply of a token in the market.

Further Institutional Transfers and Market Shifts

Further details point to continued institutional activity around Ethereum. Just hours ago, a wallet tied to the Ethereum Foundation deposited 1,000 ETH (worth about $1.58 million) into Kraken. This wallet received 84,513 ETH from the Foundation 10 years ago when it cost around $1.2 per ETH.

On April 21, Paradigm, a crypto investment firm, transferred 5,500 ETH (worth roughly $8.66 million) to Anchorage, a major institutional brokerage platform. 

Over the last year, Paradigm has moved nearly 100,000 ETH to Anchorage. Past trends show that such transfers often precede further movements to exchanges like Coinbase and Binance, suggesting that these transactions may be linked to preparations for sale. 

Other movements included a 2,056 ETH sale at $1,591 by a whale, followed by shorting Ethereum with 10x leverage on HyperLiquid.

Ethereum Netflow Bleeding

Amid these massive withdrawals, Ethereum net flows by large holders have seen drastic declines. Data reveals a 96.92% drop in net flows over the last seven days, a 95.98% decline over the past 30 days, and a 97.80% decrease over the past 90 days.

Ethereum Large Holder Netflows | IntoTheBlock
Ethereum Large Holder Netflows | IntoTheBlock

If You Put $100K into XRP in 2020, Here’s What It’s Worth Today Compared to Gold

Abdulkarim Abdulwahab
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If You Put $100K into XRP in 2020, Here’s What It’s Worth Today Compared to Gold

Vandell Aljarrah, co-founder of Black Swan Capitalist, recently drew public attention to the long-term investment performance of XRP relative to gold.

Aljarrah analyzed the investment returns of both assets over a five-year period, beginning in 2020. In his tweet, he highlighted that XRP has risen by over 984% since 2020, whereas gold has recorded a 78% increase over the same period.

Moreover, he noted that during this five-year timeframe, the purchasing power of the US dollar declined by 25%. Aljarrah illustrated this by explaining that $100,000 in 2020 would only have the buying power of approximately $75,000 today.

On the other hand, a $100,000 investment in XRP during this period would have yielded nearly ten times the return, while simply holding cash led to a significant loss in value. This comparison highlights how crypto assets like XRP have offered a more promising store of value than traditional assets like gold or even fiat currency.

$100K in XRP Compared to Gold Over Five Years

Specifically, five years ago, in April 2020, XRP was trading as low as $0.1831. At its current price of $2.08, the asset has appreciated by 1,036%. To put this into perspective, a $100,000 investment in 2020 could have purchased 546,149 XRP tokens. Today, those tokens would be worth approximately $1.135 million at XRP’s current price around $2.07.

Interestingly, at XRP’s peak during this period, when its price reached $3.34 in January 2024, that same investment would have been worth about $1.82 million, presenting nearly $700K more gains.

Meanwhile, market data from TradingView shows that gold sold for $1,730 five years ago. With its current value at $3,495.38, this represents a gain of 107.10%. 

With this performance, a $100,000 investment in gold from 2020 would now be worth around $202,000. While this is a respectable return, especially considering the dollar’s depreciating value within this period, it pales in comparison to XRP’s gains.

Aljarrah’s recent tweet comparing XRP’s investment potential to other assets is part of his broader effort to highlight the asset’s strong past performance and future promise.

What About a $100K Investment in Bitcoin Since 2020?

In an earlier post with a similar message, Aljarrah compared XRP’s performance to Bitcoin’s over a four-year timeframe. He asserted that XRP outperformed Bitcoin by a significant margin, even though XRP hasn’t yet reclaimed its previous all-time high, while Bitcoin has broken several new records.  He argued that XRP is positioned for even more explosive growth to further outpace Bitcoin.

However, in his latest commentary, Aljarrah chose not to compare XRP to Bitcoin over the five-year span—instead using gold—because Bitcoin actually delivered a stronger performance than XRP during that period.

Specifically, Bitcoin traded at around $6,867 on April 22, 2020. As of today, it is trading above $88,000, marking an impressive 1,181.35% gain over five years. This means a $100,000 investment in Bitcoin from 2020 would now be worth approximately $1.28 million. 

At Bitcoin’s peak in January 2024, that same investment would have been worth around $1.59 million. Meanwhile, this would be significantly below XRP’s peak value of $1.82 million during the same timeframe. 

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