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Solana's price is up 40% this week due to easing FTX-dump fears and growing Bitcoin ETF buzz, while SOL/USD technicals hint at more upside. The price of Solana (SOL) has soared 40% this week to establish a new 2023 high at around $58.  That is Solana's best weekly performance since January 2023. Many factors have contributed to the gains, including a general cryptocurrency market uptrend led by Bitcoin ETF euphoria and growing appetite for risk overall. Solana (SOL) weekly price chart. Source: TradingView FTX-dump fears fails to shake Solana bulls Solana's rise coincides with the daily selling of 250,000-750,000 SOL tokens by FTX bankruptcy estate in the last two weeks. FTX has been selling between 250k-700k $SOL every day for the last 2 weeks while price has either been going up or sideways. so far its been getting absorbed like a champ and at current rate their unlocked tokens should be depleted within a week. once this seller is gone i can… pic.twitter.com/AtnTqz3uxG...

According to blockchain security analysts, the developers of the Safereum project suddenly sold more than 700 ETH worth of its native token, sending the price of SAFEREUM plunging more than 90%. The crypto community has been left fearing the worst after seeing huge sums of liquidity drained from the cryptocurrency project Safereum just hours after its team had finalized a massive $600,000 fundraising. According to blockchain security firm CertiK and other analysts, the developers of Safereum — using the token deployment address “safereum.eth” — unlocked the supply of the token and dumped more than 600 Ether (ETH) worth of its holdings, causing the price of the Safereum (SAFEREUM) token to plunge more than 94%. #CertiKSkynetAlert We can confirm that @Safereumio has conducted an exit scam for ~$1.3m Eth: 0xb504035a11E672e12a099F32B1672b9C4a78b22f safereum.eth unlocked Safereum token s and sold. Additionally ~$597k was raised for the project’s SAFEPAD token .https://t.co/aAxjcEmdcH ...

Bitcoin is consolidating at the top of its range and this is inspiring traders' confidence in a variety of altcoins. United States 10-year Treasury yields soared above 4.8% on Oct. 3, their highest level since 2007. DoubleLine Capital CEO Jeffrey Gundlach said in a post on X (formerly Twitter) that the spread between the 2-year and 10-year Treasury yields has narrowed from 109 basis points a few months ago to 35 basis points. He cautioned that this “should put everyone on recession warning.” Arthur Hayes, former CEO of crypto exchange BitMEX, warned in a recent X thread that the government will have to print money to save the bond market as a faster bear steepener — a condition where long-term interest rates rise more quickly than short-term rates — will cause firms to collapse. Some investors believe that this could trigger a cryptocurrency bull market. Daily cryptocurrency market performance. Source: Coin360 It also looks like the institutional investors have started to warm up ...

Blockchain security firms SlowMist and CertiK also believe the crypto wallet drainer Angel Drainer was involved in the estimated $238,000 exploit. The team behind Balancer, an Ethereum-based automated market maker, believes a social engineering attack on its DNS service provider was what led to its website ’s frontend being compromised on Sept. 19, leading to an estimated $238,000 in crypto stolen. “After investigation, it is clear that this was a social engineering attack on EuroDNS, the domain registrar used for .fi TLDs,” the firm explained in a Sept. 20 X post. Approximately 8 hours after the first warning of the attack, Balancer said its decentralized autonomous organization (DAO) was actively addressing the DNS attack and was working to recover the Balancer UI. At 5:45 pm UTC on Sept. 20, Balancer said it was successful in securing the domain and bringing it back under the control of Balancer DAO. It also confirmed its subdomains “app.balancer.fi” and other “balancer.fi” are...

Coin Center research director Peter Van Valkenburgh argued that crypto mixer Tornado Cash is an anonymizing software provider, not a money transmitter. Crypto advocacy group Coin Center has criticized the latest indictment of two former Tornado Cash developers, arguing that the facts offered don't show any clear violations of money-transmitting-related offenses. Roman Storm and Romen Semenov were indicted by the United States Office of Foreign Asset Control (OFAC) on Aug. 23 for conspiring to operate an unlicensed money-transmitting business, among other charges. In a follow-up opinion piece, Coin Center research director Peter Van Valkenburgh argues that the claims in the indictment appear to run counter to guidance from the U.S. Financial Crimes Enforcement Network — arguing that Tornado Cash only provides the software to transmit money, rather than transmitting the money itself. New Tornado Cash indictment s seem to run counter to FinCEN guidance Coin Center’s initial thought...

Bitcoin remains stuck in a tight range, but select altcoins such as SHIB, UNI, OKB and HBAR are attracting buyers. Bitcoin (BTC) continued its boring price action over the weekend, indicating that the bulls and the bears are not waging large bets as they are uncertain about the next directional move. Nevertheless, traders should continue to keep a close watch because a period of consolidation is usually followed by an increase in volatility .  Although it is difficult to predict the direction of the breakout with certainty, some analysts point to the Bitcoin whales increasing their exposure as a positive sign. On-chain analyst Cole Garner believes the bull move could continue till September when the summer seasonality kicks in and the shakeout happens. Crypto market data daily view. Source: Coin360 Bitcoin rose sharply in the first few months of the year but the major altcoins struggled to keep pace. That could change as the current consolidation in the largest cryptocurrency is giv...

The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term. Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (BTC) could reach $50,000 this year and stretch the rally to $120,000 by the end of next year. Large investors seem to be taking a bullish stance and are making the most of the stagnant Bitcoin prices. Behavioral analytics platform Santiment shows that sharks and whales, entities holding between 10 and 10,000 Bitcoin, have increased their hoarding by 71,000 Bitcoin since mid-June. Daily cryptocurrency market performance. Source: Coin360 While the long term looks bullish, macroeconomic indicators hold the key in the short term. The United States equities market is likely to be influenced by second-quarter earnings and the inflation data due to be released on July 12. That is likely ...

Bitcoin and select altcoins are witnessing a pullback, indicating that traders may be booking profits and reducing risk. Pullbacks are a part and parcel of uptrends. They not only help shake out the weaker hands but also offer an opportunity for traders to add to their position or make fresh entries. Currently, Bitcoin (BTC) is witnessing a correction as bulls and the bears battle for control, but is this a buying opportunity or the start of a trend reversal? The Crypto Fear & Greed Index has risen to 69, indicating that traders have started to get greedy again. When this happens, it is time to become cautious in the near term because when new traders begin chasing prices higher, experienced traders sell into strength and buy on dips. Daily cryptocurrency market performance. Source: Coin360 ARK Invest CEO Cathie Wood said in a recent interview that Bitcoin and Ether (ETH) are being considered as safe haven assets like gold. Meanwhile, Bridgewater Associates founder Ray Dalio does ...