Robinhood has introduced staking for Ethereum (ETH) and Solana (SOL) to its U.S. customers, enabling them to earn rewards by locking their crypto assets on the platform. The feature requires a minimal stake, making it accessible for a wide range of investors. This launch broadens Robinhood’s crypto services amid growing demand for passive income opportunities in decentralized finance. The move positions Robinhood to compete more aggressively in the expanding crypto market.
Solana (SOL) price is facing weakness as bearish headwinds persist in the crypto market. Moreover, SOL continues to underperform against Ethereum (ETH), with the SOL/ETH ratio plunging 25% in less than three weeks to its lowest level in nearly a month. Amid weakening bullish momentum, will Solana price crash to $130 or bounce higher? Solana Price Weakens as SOL/ETH Crashes The momentum around Solana price is growing weak amid a crash in the SOL/ETH ratio. As Coingape reported, Solana’s underperformance is driving Ethereum’s gains, with the latter recording a mild 1.3% drop in seven days, notably lower than SOL’s 11% drop. At press time, the SOL/ETH ratio stood at 0.0613 after shedding more than 25% of its value since May 8. At this level, the ratio was testing a multi-month support level that had previously determined whether the price continues with the upward trend or drops lower. SOL/ETH is losing… Read More at Coingape.com
Ethereum’s shoddy run of form is reaching its lowest ebb with investors lapping at the charts in bullish fashion. Ethereum price is tipped for a rally to $4,000 after technical indicators flash glimpses of promise for the largest altcoin.
Ethereum Price To $4,800 Is In Play
Cryptocurrency analyst Javon Marks is predicting an extended rally for Ethereum price in the coming weeks on the backs of solid technicals. According to an analysis on X, Ethereum price continues to trade outside of the previous descending trendline after a strong breakout despite recent poor price performances.
Marks notes that the previous breakout triggered an extended bullish run for Ethereum but previous declines leave ETH outside the descending trendline. According to the cryptocurrency analyst, if ETH continues to trade above the trendline, a price target of $4,800 is within grasp. While Marks did not give a timeline, the $4,000 prediction aligns with Standard Chartered’s revised prediction for ETH for the end of 2025.
“With Ethereum still being well broken out of an older resisting trend the target at the $4811.71 level goes unchanged,” said Marks.
While Marks’ prediction offers a ray of hope for the bruised and battered altcoin, trading above the trendline is an uphill climb. For starters, ETH price charts are indicating lower lows and lower highs, confirming a strong downtrend.
Ethereum price has fallen to a new 5-year low against Bitcoin after posting its worst Q1 performance in nearly five years. ETH tanked to lows of $1,400 as investor optimism for the altcoin sunk to previously unseen levels.
Marks Says ETH Can Still Clinch $8,000
The analyst notes if the Ethereum price powers through the maze of challenges on its path to $4,800, it can trigger a sustained rally to $8,000. While the prediction is a steep ascent for ETH, prices have formed a 2020 historical pattern pointing to a rally.
“With this target still in play, an over 200% uphill run to reach it can take place and with the extensive post-breakout action, a break above is possible, bring $8,557.68 into play,” said Marks.
Bankless cofounder David Hoffman has revealed a strategy to improve ETH price performance. The plan involves attracting new users to the Ethereum network while ditching attempts to police users’ behavior.
Despite the possibilities for an upswing, Ethereum price is staring down the barrel of a gun. There are comparisons that the ETH price is mirroring Nokia’s decline with Solana’s rise delivering the final blow for Ethereum.
DeFi Development announced a new $100 million private convertible note offering, aiming to execute MicroStrategy’s acquisition plan with Solana.
However, this ambitious plan may face a setback, as its stock price fell over 9% after announcing the sale. Solana’s own performance has been wobbly, and this effort may reflect the crypto market’s own appetites.
According to this plan, DeFi Development aims to raise $100 million to purchase more Solana. If the offering goes well, it may upsize to $125 million, with the convertible senior notes due in 2030.
Additionally, an undisclosed portion of the proceeds will go to stock buybacks as part of a prepaid forward to manage portfolio risk. This indicates a well-considered strategy.
Previously, the company was a commercial real estate firm named Janover. However, it rebranded to DeFi Development this April, intending to fully commit to SOL.
The SEC rejected its initial plan to raise $1 billion through securities sales for Solana purchases, but it accessed alternate funding sources to begin acquiring assets.
As it stands, the plan currently has significant advantages and drawbacks. Unfortunately, DeFi Development will need to contend with Solana’s recent price woes.
However, DeFi Development might have a key influence over Solana. While most corporate Bitcoin holders are following MicroStrategy, this firm could be a market mover for SOL.
Saylor’s company is a pillar of confidence in BTC, with its constant purchases helping the price stay afloat. DeFi Development’s own investments could carry out the same function.
Still, there’s a lot of uncertainty involved. For one thing, if the firm wants to buy $100 million worth of SOL, it will need to sell an equivalent amount of stock. DeFi Development might not find sufficient institutional interest, considering the Solana market.
Since declaring the note offering, DeFi Development’s stock fell over 9% in after-hours trading. The downturn began less than 30 minutes after the firm’s social media announcement, which may be a bad sign.
DeFi Development Price Performance. Source: Google Finance
Whether the company succeeds or fails, this stock offering will provide useful data about market appetites and the viability of corporate crypto acquisition strategies.
