Seth Wilks and Raj Mukherjee, two key cryptocurrency policy leaders at the U.S. Internal Revenue Service (IRS), have resigned after accepting government-offered “DOGE Deferred Exit Deals.” Both joined the IRS in 2024 from the crypto industry, playing vital roles in shaping the agency’s crypto tax policies and developing the new 1099-DA tax form. Their departure marks a shift in leadership as the IRS continues to refine its approach to cryptocurrency taxation.
Saros, the Solana-based altcoin, has been on an impressive uptrend over the past month. The token’s price has formed new all-time highs (ATHs) nearly every day throughout March.
However, with the momentum showing signs of slowing, investors are wondering if this rally is nearing its end.
SAROS Refrains From Following Bitcoin
The correlation between Saros and Bitcoin (BTC) is currently negative, sitting at -0.43. This negative correlation has worked in Saros’ favor, as it allowed the altcoin to perform well during Bitcoin’s struggles throughout March. While Bitcoin faced significant declines, Saros was able to rally largely due to this inverse relationship.
The shifting dynamics between Bitcoin and Saros will be key to the future price movement of the altcoin. Should Bitcoin regain its upward momentum, Saros may face increased selling pressure. This is because the negative correlation that has benefited Saros may reverse, impacting the altcoin’s ability to maintain its upward trajectory.
The overall macro momentum of Saros shows that investor interest has remained strong. The Chaikin Money Flow (CMF) indicator has been increasing steadily over the past month, signaling consistent inflows.
Recently, it crossed the saturation threshold of 0.7, a level that has historically led to price corrections. This suggests that while Saros has experienced significant gains, the market may be nearing an overbought condition. If profit-taking begins, a price pullback is highly probable for the altcoin.
Saros has surged by an astounding 1,024% since the beginning of March, trading at $0.153 as of now. Throughout March, the altcoin has formed new ATHs almost daily, reflecting strong investor sentiment and demand.
The current ATH stands at $0.163, and the momentum could continue pushing the price upwards, potentially reaching $0.200 if the uptrend remains intact. However, as the price continues to rise, the risk of profit-taking increases.
If Saros faces such a pullback, it could fall back towards the $0.100 support level. If the altcoin loses this key support, the price could drop further to $0.055, invalidating the bullish outlook. Investors should keep an eye on these levels as they will help determine whether the current rally is sustainable.
The Solana price is juggling around a narrow range after triggering a rebound from the dynamic support close to $142. The price is jammed around the narrow range, but the volume has been rising, which has recently surged above $3 billion. This could lead towards a potential upswing, but considering the SOL price rally, the bears seem to remain dominant. On the other hand, the fundamentals are strengthening, due to which Solana marked an eventful week.
The developers fixed a crucial bug and patched a zero-day vulnerability that could have allowed hackers to mint unlimited tokens. This swift response prevented potential damage to the network. Coming to the on-chain figures, the SOL TVL took a dip by close to 2.8% and maintains second position after Ethereum. The DEX volume also drops by 10% below $20 billion, while the daily active addresses remain steady at 3.8 million.
The main development in the ecosystem includes DeFi Development Corp. acquiring a Solana validator for $3.5 million to self-stake SOL & earn rewards. While the impact on the SOL price remains negligible. Does this suggest the investors do not see the token with the potential of going long, or have they lost confidence in the token’s growth trajectory? Here’s what you need to know!
The long-term price actions display no major deviation, but the short-term price action has been flashing bearish signals. After failing to sustain above $150, the SOL price seems to have been following a trend. As StochRSI rises to the overbought zone, the price marks the local highs, followed by a rejection. This has occurred a couple of times, and the current trade setup suggests yet another similar pattern is in the making. On the other hand, the Gaussian channel remains bearish in the short term.
Considering the chart pattern, it appears to be feasible that the Solana (SOL) price could incur more losses in the next few hours. It may drop below the dynamic support at $141.19 and test the levels close to $140 or range slightly below around $138. However, a rebound could follow, but until Solana remains stuck within this pattern, no major price action can be expected. On the other hand, the bearish scenario could be squashed if the SOL price transforms the resistance at $155 into a strong support.
The post Solana Struggles to Reach $150 Despite Growing Fundamentals! Here’s Why. appeared first on Coinpedia Fintech News
The Solana price is juggling around a narrow range after triggering a rebound from the dynamic support close to $142. The price is jammed around the narrow range, but the volume has been rising, which has recently surged above $3 billion. This could lead towards a potential upswing, but considering the SOL price rally, the …
Coinbase Derivatives recently launched 24/7 trading for Bitcoin and Ethereum futures, which made it the first CFTC-regulated U.S. exchange to do so. U.S. traders can now buy and sell BTC and ETH futures anytime.
24/7 XRP & SOL Futures To Launch Soon
Now, it is planning to launch 24/7 trading for XRP and SOL futures, starting June 13. This will help bridge the gap between traditional U.S. hours and the global markets. Derivatives now make up over 75% of the global crypto trading. Coinbase aims to get a larger share.
Starting June 13, we’re enabling 24×7 trading for $XRP and Solana ( $SOL ) futures, unlocking real-time access to U.S. traders, reflecting the always-on nature of crypto markets.
— Coinbase Institutional (@CoinbaseInsto) May 29, 2025
“The arrival of 24/7 CFTC-regulated markets is a game-changer for the industry,” said Andy Sears, CEO of Coinbase Financial Markets.
More Futures and Perpetual Contracts
Coinbase rolled out Solana futures in February, followed by XRP and nano XRP futures last month. In Thursday’s trading, Nano Solana topped the charts with over 23,000 contracts traded. XRP futures also saw strong action, with more than 13,000 contracts traded across both standard and nano sizes.
It is now offering futures contracts for SOL, XRP, ADA, and HBAR. The exchange is also about to launch perpetual BTC and ETH futures in the U.S., a new way to trade crypto, which is designed to meet the high demand for crypto derivatives within a fully regulated setting.
While Bitcoin and Ethereum remain the core of Coinbase’s derivatives, the strong early demand shows that traders are showing interest in altcoin futures, too.
Coinbase Rolls Out New Features
Coinbase Advanced is now ever better as it has rolled out newer features. Auto-sweeping sends excess funds back to your main account. Auto-rolling uses smart algorithms to manage expiring positions. New order types with editable limit orders are also coming soon. It is also releasing a new margin health tool that makes it easier to track and manage liquidation risk.
The post Ripple News: XRP and Solana Futures Go 24/7 on Coinbase Beginning June 13 appeared first on Coinpedia Fintech News
Coinbase Derivatives recently launched 24/7 trading for Bitcoin and Ethereum futures, which made it the first CFTC-regulated U.S. exchange to do so. U.S. traders can now buy and sell BTC and ETH futures anytime. 24/7 XRP & SOL Futures To Launch Soon Now, it is planning to launch 24/7 trading for XRP and SOL futures, …
(@CoinbaseInsto)