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The race to bring a spot Solana ETF to the U.S. market is on full fire, and the investors are watching the SEC’s every step closely. With multiple applications under review and the launch of the staking-enabled SOL ETF in the market, the approval odds for potential spot launch have surged 99% on betting platforms.
The post 99% Approval Odds? How Close Are We to Spot Solana ETF Launch in US? appeared first on CoinGape.
XRP open interest has reached its highest level in months. This increase comes as investors speculate about the possible approval of a dedicated XRP ETF by ProShares. The mix of strong technical activity and interest from institutional investors suggests that the token could be on the verge of a major price rise. XRP Derivatives Market
The post XRP Open Interest Skyrockets Ahead Of ProShares XRP ETF Approval appeared first on CoinGape.
Shiba Inu lead Shytoshi Kusama has once again stolen the spotlight with his recent location update on social media. For context, the Shiba Inu creator has recently mentioned “Cracking The Chrysalis”, which has sparked discussions among investors. Some see this cryptic update as a hint towards something big ahead for the SHIB ecosystem.
So, here are three likely hidden meanings behind this move.
Shytoshi Kusama’s latest location update hints at major updates ahead for the broader SHIB ecosystem. Notably, a chrysalis is a cocoon stage before a butterfly emerges, often representing transformation. This change in Shiba Inu creator’s location suggests that SHIB might be on the verge of a major breakthrough.
Meanwhile, an X user and SHIB enthusiast KURO SHIBARMY JPN was among the first to highlight this mysterious update. The shift from listing a real-world location to this cryptic phrase hints at something significant brewing behind the scenes. Many in the community interpret it as a bullish signal for upcoming developments.
Another speculation surrounding Shytoshi Kusama’s update is the long-awaited Layer-3 solution for Shibarium, called Shib Alpha. The project, in development since early 2024, aims to enhance the network’s speed, security, and transaction efficiency.
Earlier this year, the Shiba Inu creator revealed that he had traveled globally, securing $12 million in funding for the Layer-3 network. The funds were raised through the sale of the TREAT token. TREAT serves as the backbone of this new upgrade, bringing more functionality and scalability to Shibarium.
If the location update is linked to this development, it could mean the Shiba Inu ecosystem is nearing a major milestone, with Shib Alpha potentially set for an imminent release.
The Shiba Inu aims to evolve into a fully decentralized ecosystem apart from being only a mere project. The Layer-3 upgrade, hinted at by the latest Shytoshi Kusama location update, will prioritize user protection while allowing them to control what information they share.
In addition, the Shib Alpha is expected to integrate SHI, the ecosystem’s long-awaited stablecoin. With lower gas fees and improved transaction speeds, this upgrade could make SHIB a strong contender in the broader digital assets space.
In other words, the latest location update hints that the Shiba Inu ecosystem is currently in a transitioning state. With bullish speculations hovering after Shytoshi Kusama’s update, the market participants anticipate major updates ahead for the SHIB ecosystem.
Amid the soaring speculations, SHIB price today surged nearly 5% and exchanged hands at $0.00001269. However, the crypto has lost around 8% over the last 30 days. Despite that, a recent Shiba Inu price analysis hints at a strong rally ahead for the crypto with Ethereum playing a crucial role in it.
On the other hand, TREAT price today surged around 20% to $0.0003297. This indicates the growing investors focus towards the broader SHIB ecosystem, especially after Shytoshi Kusama’s cryptic update. Besides, another SHIB analysis indicates a potential rally of 175% as total Shiba Inu holders soared past the 1.5 million milestone.
The post Shytoshi Kusama Location: 3 Hidden Meanings Behind Shiba Inu Creator Location Move appeared first on CoinGape.
Spark (SPK), the cryptocurrency native to the Spark decentralized finance (DeFi) protocol, has seen its value rise by approximately 100% over the past week amid increasing anticipation of the second phase of the Ignition airdrop.
In addition to the price surge, the protocol has also experienced significant growth, with its Total Value Locked (TVL) reaching an all-time high (ATH).
BeInCrypto data showed that SPK’s price has increased around 100% over the past week, reaching highs that were last seen when it launched. The token’s market capitalization has also doubled from around $30 million to over $62 million.
Over the past day alone, the price has appreciated 45.73%, bringing SPK to trade at $0.061. The trading volume also highlighted strong investor activity as it surged 403.90% to $486 million.
The surge in activity seems to be primarily driven by the project’s airdrop. Phase 1 of the airdrop, which allows users to claim tokens, concludes today.
The next phase, ‘Overdrive,’ is also nearing a critical deadline. During this phase, participants have the opportunity to qualify for a second airdrop.
“Overdrive is for the ones who staked, stayed & believed. It’s the 2nd phase of the airdrop, where you can stake your SPK via @symbioticfi and get a share of the unclaimed Ignition SPK,” the protocol posted.
According to the official announcement, users must stake their Ignition airdrop by July 29, 2025, and maintain it until August 12, 2025, to get rewarded. Additionally, those who save at least $1,000 in USDS or USDC continuously during this period can earn a 2x boost on their Overdrive units.
The staking requirement, a critical component of the Overdrive initiative, appears to be a significant factor behind the recent price pump as users rush to meet the deadline. Staking tokens reduces the circulating supply.
This, in turn, puts upward pressure on the price. The excitement surrounding the airdrop could also be boosting market sentiment, leading to more interest in the token. This likely explains SPK’s latest behaviour.
However, once the staking period ends and the tokens are distributed, some recipients might sell them. This could create selling pressure and possibly lower the price in the short term after August 12. A similar pattern was observed when the token launched in June.
Despite this, some analysts are increasingly optimistic about SPK’s prospects.
“There’s still plenty of room for growth. I believe Spark’s growth trajectory could see it hit $0.10 – $0.15 within the next year, potentially even reaching $0.50 or more in the next two to three years as it expands its partnerships, explores cross-chain opportunities, and develops new DeFi products,” an analyst predicted.
Meanwhile, growth isn’t just limited to price. According to DefiLama data, Spark’s TVL reached a new peak of $8.15 billion today.
The platform’s products, such as Spark Savings offering a 4.5% APY, and SparkLend, which now holds $4.9 billion in TVL, are leading the charge.
The Spark Liquidity Layer (SLL), responsible for managing liquidity, also has $3.98 billion in allocated assets. Furthermore, Token Terminal data showed that the value of active loans across the market reached a new high in July. Notably, Spark ranks third alongside Aave and Morpho as a leader in this space.
These metrics highlight the growing demand for decentralized solutions and the role that platforms like Spark play in supporting the broader DeFi ecosystem.
The post Spark (SPK) Price Doubles in a Week: How Airdrop Phase 2 is Driving the Price Rally appeared first on BeInCrypto.