Solana (SOL) has made significant strides in recent weeks, reaching a monthly high after a steady incline in its price action. Currently trading at $139, the altcoin has encountered resistance at the $148 level, which it failed to breach previously.
However, further rally from this point could set the stage for a move beyond $150, contingent upon investor support.
Solana Investors Are Optimistic
Solana’s recent uptick has been fueled by growing investor participation. Active addresses have surged to a two-month high, signaling renewed interest and confidence in the blockchain.
This rise in activity, combined with the price increase, is providing a strong buy signal. With more investors entering the market, there’s a higher likelihood that Solana will maintain its bullish momentum.
Increased participation in the network is often a strong indicator of investor confidence. The higher the number of active addresses, the more likely it is that the price will continue to rise. If these trends persist, Solana could build enough momentum to break through the $148 resistance and target $150.
Despite the strong market sentiment, technical indicators such as the MACD suggest that Solana’s bullish momentum is showing some signs of slowing. The MACD histogram has begun to display declining bars, which could indicate that the intensity of the buying pressure is diminishing. While this decline is still mild, it’s worth watching closely for any signs of a shift in momentum.
However, it’s important to note that these fluctuations are part of the typical market cycle. The lack of a significant slowdown in the MACD at this point suggests that Solana has room to grow further, especially if market conditions remain favorable. A consistent rise in price could prompt a renewed surge in demand from investors.
Solana is currently trading at $139, with support holding firm at $136. This has helped the altcoin maintain stability despite facing resistance at $148. The price has tested this barrier multiple times in the past six weeks but has failed to breach it, signaling a crucial point for its future direction.
If Solana can overcome the $148 resistance with sustained investor support, it could see a substantial increase, potentially reaching $150 in the coming weeks. Positive market sentiment and increasing active addresses are likely to play a role in helping SOL achieve this target.
However, if the altcoin fails to breach $148 once again, it could see a correction toward $123. If this happens, Solana will likely consolidate at that level, and any further drop could invalidate the current bullish outlook.
South Korea has pushed Google to restrict access to 17 foreign trading platforms, including KuCoin and MEXC.
The crackdown, which took effect on March 25, is part of the country’s ongoing efforts to regulate the crypto industry and safeguard local investors.
Here’s Why the South Korean Government Took Action
South Korea’s top financial regulator, the Financial Services Commission (FSC), confirmed that Google Play had removed KuCoin and MEXC, among 15 other exchanges, from its platform. The move makes it impossible for new users to install the apps.
“Since March 25, at the request of the South Korean government, Google has implemented domestic access restrictions on 17 exchanges that are not registered in South Korea. Users cannot install new related applications or update them, including KuCoin, MEXC, Phemex, XT, Biture, CoinW, CoinEX, ZoomEX, Poloniex, BTCC, DigiFinex, Pionex, Blofin, Apex Pro, CoinCatch, WEEX, and BitMart,” Wu Blockchain reported.
Existing users are also unable to update them, further limiting their accessibility. According to the FSC, these platforms failed to register under South Korean law while actively targeting local traders. With this, they effectively violated the country’s regulatory requirements.
South Korea has some of the world’s strictest crypto regulations, and authorities have been increasingly aggressive in enforcing them. Under the Specific Financial Transaction Information Reporting and Use Act, any foreign virtual asset service provider (VASP) operating in South Korea must register with the country’s Financial Intelligence Unit (FIU).
The FSC emphasized that this latest measure aims to prevent financial crimes such as money laundering and protect investors from potential fraud. The regulator outlined the criteria to determine whether an exchange was operating illegally in the country.
These included offering a Korean-language website, actively marketing to local users, and supporting transactions in Korean won.
While this enforcement action is significant, it is not the first time South Korean authorities have taken a hard stance against foreign exchanges. In 2022, the FIU identified and restricted 16 unregistered platforms, followed by another six in 2023.
The latest crackdown signals regulators are doubling their efforts to bring the crypto market under stricter oversight.
Upbit Exchange To Grow Market Edge
With major international exchanges facing restrictions, the dominance of local platforms like Upbit has only strengthened. The exchange controls a significant share of South Korea’s crypto trading market.
BeInCrypto recently reported that over 30% of South Korea’s population trades cryptocurrency. Upbit processes the bulk of these transactions. This latest move against foreign exchanges could further consolidate Upbit’s position in the market, making it the go-to platform for retail and institutional investors.
“South Korea isn’t playing when it comes to crypto regulations. This move [blacklisting 17 exchanges] puts a real hurdle in front of traders using these exchanges,” one user remarked.
Upbit Dominates South Korean exchanges in Trading volume. Source: CoinGecko
By enforcing compliance measures and weeding out unregistered players, the government is creating a more structured environment that may attract traditional financial (TradFi) institutions looking for regulatory clarity before investing in digital assets.
The country has also been taking steps to delay taxation on crypto investments, which signals a more balanced approach that seeks to encourage growth in the sector while ensuring investor protection.
The arrival of an altcoin season is often tied to Bitcoin’s performance. As money flows out of BTC and into altcoins, this triggers a rise in altcoin prices.
However, this cycle is delayed by factors beyond Bitcoin. One such factor is the recent surge in token generation events (TGEs).
Rise in TGEs – A Boon or a Bane?
In the past four and a half months, 45 new tokens have launched, with most failing to provide decent returns. Many tokens launched in 2025 failed to sustain growth post-listing, raising the question of whether this trend is driven by bearish macroeconomic conditions or the lack of fundamental value in these tokens. This is turning altcoins into speculative assets driven by momentum.
Talking to BeInCrypto, Vincent Liu, CIO of Kronos Research, shed light on this question.
“Relentless token launches, especially meme coins, diluted liquidity and fragmented investor attention. Simultaneously, macro headwinds like rising interest rates and a global shift to risk-off sentiment throttled speculative capital. Tokens lacking utility, clear roadmaps, or sustainable ecosystems were quickly repriced in line with growing investor skepticism,” Liu explained.
One of the few successful launches with strong ROI has been Solayer (LAYER). Since its February launch, LAYER has posted an 88% rise and is currently trading just under $2.00.
Altcoin Season Delayed, But Narratives Continue to Grow
The altcoin season index currently stands at 16, indicating Bitcoin’s dominance. Rapid token launches and post-listing failures are contributing to the delay.
However, Liu noted that niche categories like AI-linked tokens continue to show strong demand despite the broader market conditions.
“While a full-fledged altcoin season hasn’t materialized, niche categories like AI-integrated meme coins and emerging tech narratives have shown signs of strength. Many token launches still suffer from inflated valuations and weak fundamentals, diluting capital and stalling broader momentum. Yet AI-linked narratives continue to attract attention not just from crypto natives, but also from traditional finance. Altcoin season isn’t gone, it’s simply evolving,” Liu said.
Despite the delay, the potential for an altcoin season remains. However, 75% of the top 50 altcoins would need to outperform Bitcoin to signal a true shift, which is not the case at the moment.
Arthur Cheong, founder and CEO of DeFiance Capital, recently raised concerns over TGEs. He highlighted the risk of projects and market makers working together to inflate token prices artificially. This can distort market behavior and undermine investor confidence.
“You don’t know whether the price is a result of organic demand and supply or simply due to projects and market makers colluding to fix the price for other objectives. Absolutely bizarre that CEXs are turning a blind eye to this and altcoin markets are becoming more and more like a lemon market where confidence gets lesser,” Cheong tweeted.
Responding to this, Vincent Liu suggested that there needs to be reforms in the way that token launches are approached.
“…the issue of artificially inflated token prices before launch presents a growing concern. While these short-term surges might attract initial attention, they often undermine long-term investor confidence. To mitigate this, the industry must champion greater transparency around partner agreements, listing criteria, and pre-launch disclosures. Clear communication about a project’s structure, roadmap, and market cap expectations is essential to building a sustainable and trustworthy ecosystem,” Liu said.
Liu believes addressing this problem requires collaboration from market makers, centralized exchanges (CEXs), and investors.
“By conducting thorough research into the fundamentals of new projects, investors can protect themselves from significant losses and identify valuable tokens in the long run,” Liu concluded.
Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see what experts say about Bitcoin’s (BTC) price amid recovery efforts. The status of Bitcoin as a hedge against inflation and economic uncertainty is progressively becoming questionable, with institutional influence adding to the concerns.
Can Strategy’s $555 Million BTC Purchase Send Bitcoin Past $90,000?
Michael Saylor, the chairman of Strategy (formerly MicroStrategy), revealed the firm’s latest Bitcoin purchase, comprising 6,556 BTC tokens worth approximately $555.8 million. With this, the firm has attained a Bitcoin yield of 12.1% year-to-date (YTD) in 2025.
“MSTR has acquired 6,556 BTC for ~$555.8 million at ~$84,785 per bitcoin and has achieved BTC Yield of 12.1% YTD 2025. As of 4/20/2025, Strategy holds 538,200 BTC acquired for ~$36.47 billion at ~$67,766 per bitcoin,” Saylor shared.
Strategy uses the Bitcoin Yield YTD to measure the BTC holdings per share increase. This model has been a key part of their financial strategy firm since their first Bitcoin purchase in August 2020.
This acquisition aligns with a bullish market sentiment for Bitcoin, which is steadily nearing the $90,000 milestone, as the recent US Crypto News indicated.
Despite a mild recovery in Bitcoin prices this week, up by over 3% in the last 24 hours, it is worth noting that Bitcoin is highly sensitive to economic indicators.
Similarly, the global market is highly sensitive to monetary policies set by major economies, particularly the US. BeInCrypto contacted Paybis founder and CEO Innokenty Isers for insights on the current market outlook, particularly for Bitcoin.
“Given the strong concentration of investors in technology stocks, shifts in trade policies and government interventions that influence key indices like the Nasdaq Composite create ripple effects across financial markets,” Isers told BeInCrypto.
“With its relatively higher volatility, risk-averse investors may favor alternative inflation hedges instead of Bitcoin,” he added.
Iners expressed cognizance of the longer stretch of the trade war and the potential inflation that will emerge. Based on this, he noted that capital allocation to Bitcoin as a hedge against economic instability might be reduced.
Strategy’s Stock Premium Narrows as Bitcoin Hype Cools
Meanwhile, Strategy has seen a significant shift in its stock valuation dynamics over the past year. Saylor recently revealed that as of Q1 2025, over 13,000 institutions and 814,000 retail accounts held MSTR directly.
“An estimated 55 million beneficiaries have indirect exposure through ETFs, mutual funds, pensions, and insurance portfolios,” Saylor added.
According to data on Bitcointreasuries.net, the premium investors once paid for exposure to its Bitcoin holdings has notably narrowed.
Specifically, the NAV multiplier, a measure of how much the stock trades above the value of Strategy’s Bitcoin assets, has decreased compared to last year. This indicates that MSTR is now trading closer to the actual value of its Bitcoin reserves.
In 2024, investors were willing to pay a substantial premium for MSTR shares, driven by Bitcoin’s hype and MicroStrategy’s aggressive accumulation strategy.
“I don’t know if buying strategy equity is a good idea for the government. The stock would just pump, and it’s likely trading at a premium over NAV with a higher risk profile. Also, I believe the gov will find it difficult to find institutions that would be willing to sell their BTC in large quantities,” an analyst said recently.
The shrinking NAV multiplier suggests a more cautious market sentiment. Analysts believe this reflects a shift toward valuing MicroStrategy based on its fundamentals rather than speculative Bitcoin enthusiasm.
This suggests a maturing market approach to the company’s unique investment strategy.
This chart shows how Strategy’s stock price (blue) moves with Bitcoin price (orange). When Bitcoin goes up, MicroStrategy usually follows, but it swings even more.
However, the NAV multiplier has narrowed compared to last year, meaning MicroStrategy’s stock is now trading closer to the actual value of its Bitcoin holdings.
Last year, investors paid a bigger premium for exposure to MSTR, but that gap has shrunk. This suggests a more cautious sentiment or a shift toward valuing the company based on fundamentals rather than just Bitcoin hype.
Accumulation signals from whale activity and consolidation at $0.60 indicate a possible rally for Pi Network, despite concerns about the lack of exchange listings and use cases.
