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As of June 4, Solana (SOL) is trading at around $156.73, down 1.65% in the past 24 hours. In the past week, however, the token fell by 9% as renewed regulatory scrutiny took a toll on investor sentiment. Solana 24-hour performance. Source: Finbold Indeed, the drop might come as a result of all the uncertainty surrounding the potential Solana-based staking exchange-traded funds (ETFs).  Moreover, Solana’s total value locked (TVL) in decentralized finance (DeFi) fell 5% this week, although the network still managed to maintain its position as the second-largest DeFi ecosystem across the same time frame. The activity on Solana’s decentralized exchange (DEX) also slowed down, with the weekly volume being down 28.2%, as per DefiLlama. However, it appears that institutional demand for Solana remains strong. Classover Holdings (NASDAQ: KIDZ), for example, announced plans to raise $500 million, 80% of which would be used to acquire SOL as part of its corporate trea...

The Raydium price surged 11% in the last 24 hours to trade at $7.591 as of 02:33 a.m. EST on trading volume that jumped 3% to $551 million. The strong performance by the RAY price has made the altcoin the top gainer in the crypto market on CoinMarketCap . Raydium Price On A Sustained Bullish Rally The RAY price has recently exhibited a significant bullish breakout after a period of consolidation. Meanwhile, the Raydium price has surged above a previously strong resistance level at $6.00, as indicated by the blue horizontal line, and is now trading around $7.59. The consolidation pattern from November created a tight range between approximately $4.00 (support) and $6.00 (resistance). This range served as a springboard for the current upward momentum.  A retest of the support zone at $4.00 was met with strong buying interest, indicating significant demand in this area, according to GeckoTerminal data.  The breakout above the $6.00 resistance was accompanied by a sharp ...

A renowned crypto strategist has recently put Chainlink (LINK) under the microscope, suggesting potential upward momentum . Kevin Svenson, who boasts a following of 70,700 YouTube enthusiasts, believes that Chainlink might soon see the end of its prolonged downward stride. Significantly, this assumption comes after LINK surpassed a pivotal long-term marker. Svenson elaborates, “We’ve ascended above the 500-day SMA, which is the longest moving average we’ve observed. This crossover by Chainlink is telling. Typically, transcending these extensive SMAs indicates an overarching shift in dynamics.” Besides this, Svenson interprets Chainlink’s current movement as a preliminary reversal signal. Consequently, he speculates a situation where this Ethereum (ETH)-anchored altcoin retains its optimistic vigor in the imminent future, soaring towards its overarching resistance. However, Svenson remarks that LINK probably requires an extended period before genuinely adopting a ...