Nasdaq-listed Classover Holdings (NASDAQ: KIDZ) announced a massive $550 million SOL purchase with the goal of building its own Solana treasury reserve. As per reports, the firm has entered into an agreement with Solana Growth Ventures LLC with a $500 million securities purchase agreement via senior secured convertible notes. Soon after, the KIDZ stock saw a massive 40% upside on Monday. Classover Holdings Partners With Solana Growth Ventures As part of the initial closing, edtech firm Classover announced the signing of an $11 million convertible note financing agreement, a major stepping stone to build its SOL reserve. This financial agreement will allow noteholders to convert their holdings into Classover’s Class B common stock at a 200% premium over the stock’s closing price, just before the closing date. The move comes as the edtech firm navigates liquidity challenges. According to InvestingPro data, the company’s current ratio of just 0.02 highlights significant… Read More at Coingape.com
SOL Strategies agreed with ATW Partners to issue a convertible note of up to $500M.
The capital will exclusively be used for purchasing Solana coins, and staked to offer regular yields.
Solana price will heavily benefit from the deal, especially after the recent bullish breakout.
SOL Strategies Inc. (CSE: HODL), an investment company focused on the development and growth of the Solana (SOL) ecosystem, has announced the largest deal geared towards acquiring more SOL coins. On Wednesday, April 23, during the mid-North American trading session, SOL Strategies announced that it had inked an agreement with ATW Partners to issue a convertible note of up to $500M.
According to the announcement, SOL Strategies will issue the notes in an aggregate amount of $20 million as its first initial closing. The first tranche of the deal will close by May 1, 2025.
The agreement will offer an additional capacity of up to $480 million. The acquired SOLs will be staked and the yield generated shared among the investors.
“This is the largest financing facility of its kind in the Solana ecosystem and the first ever directly tied to staking yield. By securing up to half a billion dollars in strategic capital, we are doubling down on our conviction in Solana and our commitment to being the leading institutional staking platform. Every dollar deployed is immediately yield-generating, and accretive to both our balance sheet and our validator business. This structure is not only innovative, it is highly scalable,” Leah Wald, Chief Executive Officer of SOL Strategies, noted.
Impact on Solana Price
The convertible notes will play a crucial role in the long-term growth prospects for the Solana network. Furthermore, its success will attract more institutional investors, and bolster SOL’s bullish sentiment ahead.
From a technical analysis standpoint, SOL price has successfully rebounded following the 42 percent rally in the past two weeks. In the daily timeframe, the SOL price has been forming a megaphone structure, with the next target above $300.
Moreover, the daily MACD and Relative Strength Index (RSI) indicators have already flashed bullish sentiment.
The post Mega Bullish: SOL Strategies Announces $500M to Buy More Solana appeared first on Coinpedia Fintech News
SOL Strategies agreed with ATW Partners to issue a convertible note of up to $500M. The capital will exclusively be used for purchasing Solana coins, and staked to offer regular yields. Solana price will heavily benefit from the deal, especially after the recent bullish breakout. SOL Strategies Inc. (CSE: HODL), an investment company focused on …
In a pivotal development for blockchain automation, Gelato, a decentralized network specializing in smart contract automation, has successfully raised $11…
XRP price opened trading at $2.25 on Thursday, March 19, with key derivatives trading signals leaning bullish ahead of the U.S. Federal Reserve’s rate decision. Can XRP price breach the $2.5 resistance in the upcoming trading sessions?
XRP Price Remains Below $2.30 as Investors Shift Focus to Low-Cap Altcoins
Ripple (XRP) was among the top-performing altcoins last week, driven by reports that the U.S. Securities and Exchange Commission (SEC) was considering classifying XRP as a commodity as part of its settlement talks with Ripple. The anticipation that this move could eliminate a significant regulatory hurdle for altcoin ETF approvals fueled a strong rally.
Investors flocked to XRP, alongside other top altcoins such as Litecoin (LTC), Cardano (ADA), and Hedera (HBAR), with ETF approval filling in progress, all of which posted double-digit gains before facing corrections this week.
However, this week, the momentum has shifted away from XRP as new ETF developments have emerged. Canary Capital’s filing for a SUI spot ETF—its sixth altcoin ETF filing —alongside Nasdaq’s Polkadot ETF application has spurred fresh investor interest. As a result, both DOT and SUI have experienced notable price surges.
A broader market analysis suggests that investors are rotating capital out of last week’s top gainers, including XRP, in pursuit of these emerging narratives.
This rotation has left Ripple price trading below the $2.30 mark on Thursday, with its trading volume declining alongside other major altcoins such as LTC, SOL, and ADA, all of which have seen increased selling pressure over the past 24 hours.
XRP Derivative Traders Take a Cautious but Optimistic Stance Ahead of US Fed Rate Decision
While XRP’s price has struggled to maintain momentum this week, investors have rotated capital into emerging altcoins like Polkadot (DOT) and SUI, driven by fresh ETF narratives. Despite the bearish sentiment in the spot market, derivatives trading data reveals a more optimistic outlook, with traders positioning themselves for potential upside ahead of the U.S. Federal Reserve’s rate decision.
Three vital derivative trading indices compiled by CoinGlass on Wednesday suggesting an imminent bullish reversal in XRP price momentum:
1. XRP Derivatives Volume Climbs 7.34% as Open Interest Rises
XRP derivatives trading volume has increased by 7.34%, reaching $5.05 billion, while open interest (OI)—the total value of active futures contracts—has edged up 1.85% to $3.19 billion. This signals growing market participation, with traders actively opening new positions in anticipation of heightened volatility. An uptick in OI typically reflects confidence in an impending price move.
2. Long/Short Ratio Indicates Bullish Leverage Bias
On leading exchanges, XRP traders are showing a strong inclination towards long positions. The long/short ratio on Binance XRP/USDT accounts stands at 2.394, meaning there are nearly 2.4 long positions for every short. Similarly, OKX’s long/short ratio is 2.01, reinforcing the bullish outlook. When traders disproportionately favor longs, it often suggests an expectation of upward price movement.
3. Sell-Side Liquidations Decline as Bulls Gain Control
XRP’s sell-side liquidations have notably decreased, suggesting that bearish pressure is easing. In contrast, buy-side liquidations have risen, indicating that leveraged traders are positioning for an upward price move. This shift reduces the risk of downside volatility and supports the case for a potential recovery rally.
XRP Market Outlook:
Despite short-term price consolidation below the $2.30 level, XRP derivatives traders appear to be positioning for a bullish breakout towards $2.50. With rising open interest, a positive long/short ratio, and reduced sell-side liquidations, XRP may be primed for an upward move—contingent on the broader market reaction to the Fed’s rate decision on Wednesday.
XRP Price Forecast: $2.50 Breakout Could Spur More Gains
XRP price forecast remains cautiously bullish as the price consolidates around $2.28, with technical indicators showing mixed signals ahead of a potential breakout. The Bollinger Bands (BB) midpoint at $2.33 remains a key resistance level, while the lower BB at $1.95 provides strong support. A decisive break above $2.33 could trigger momentum toward $2.50, where a breakout may fuel an extended rally.
XRP Price Forecast
The MACD indicator is flashing early signs of a bullish crossover, with the MACD line moving upward toward the signal line, suggesting waning bearish momentum. Additionally, the histogram bars are transitioning from red to green, reinforcing the potential for a bullish reversal. The previous 30% rally within four trading sessions, highlighted in the chart, sets a precedent for XRP’s ability to surge once a breakout occurs.
However, the recent 7.88% retracement over the last four sessions raises caution. A failure to reclaim $2.33 could see further declines, with $2.00 as the next major support. The trading volume of 609M during the recent pullback suggests some hesitation among buyers. If XRP can sustain momentum and break $2.50, it could target $2.70-$2.90 in the coming weeks. Conversely, rejection at resistance could trigger further downside consolidation.
