HTX, a leading global cryptocurrency exchange, recently announced its “Boost SOL ETF Approval” special event, a week-long campaign celebrating the highly anticipated potential approval of spot SOL ETFs by the U.S. Securities and Exchange Commission (SEC). This landmark approval would position SOL—following Bitcoin and Ethereum—as the third cryptocurrency to have a spot ETF, signifying substantial recognition from capital markets for its technology, ecosystem, and market influence. More importantly, it serves as a powerful indicator of the crypto industry’s accelerated progression toward mainstream adoption and institutional acceptance.
This campaign, which runs from 10:00 (UTC) on June 26 to 10:00 (UTC) on July 3, offers a total prize pool of $100,000 in $HTX tokens. Users can participate by trading popular Solana ecosystem tokens to earn rewards. As a bonus, the 8th, 88th, 888th, and 8,888th registered users will each receive a Solana smartphone.
The campaign features three dynamic events designed for broad participation:
Event 1: Soar with SOL — Airdrops for New Signups and Referrals
During the event period, new users and first-time traders can get a random airdrop of 1,000,000 $HTX or an 8% SmartEarn APY Booster Coupon by completing any amount of spot or futures trading. Additionally, participants can refer friends to HTX during the event. If their invitee signs up and trades at least 1,000 USDT, the inviter will receive an airdrop of 6,000,000 $HTX.
Event 2: Support SOL — Trade Solana Ecosystem Tokens for Rewards
Support the push for Solana ETF approval and get rewarded. Trade a minimum of 100 USDT in spot or USDT-M futures with any of the specified Solana ecosystem tokens (SOL, TRUMP, WIF, FARTCOIN, BONK, BOME, PNUT, MYRO, JTO, JUP). Complete this daily trading task for two days to be eligible for a $3 airdrop in $HTX.
Event 3: Boost SOL ETF Approval — Top the Trading Volume Leaderboard
Trade to share a $50,000 prize pool! Achieve a total spot or futures trading volume of ≥10,000 USDT across the listed Solana ecosystem tokens (SOL, TRUMP, WIF, FARTCOIN, BONK, BOME, PNUT, MYRO, JTO, JUP) during the event. Rewards, with a top prize of $5,000 in $HTX, will be shared among qualifying participants based on their trading volume ranking.
HTX Maintains Market Leadership Through User-Centric Innovation
Dedicated to the global circulation of premier assets, HTX remains at the forefront of industry trends, consistently bringing new opportunities to its users. With the Solana ETF’s approval on the horizon, the platform is rolling out exclusive events. This move demonstrates HTX’s ability to identify emerging opportunities and reaffirms its core philosophy of prioritizing users.
The upcoming Solana ETF could initiate a new period of rapid growth for the crypto ecosystem. HTX will continue to deliver stable, convenient, and diverse trading experiences through high-quality services and innovative products, working alongside its global user base to embrace the new era of crypto.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.
Ethereum (ETH) is showing mixed signals as it hovers near a critical technical zone, with traders closely watching for a breakout or breakdown. On one hand, the BBTrend has flipped sharply bullish, jumping to 4.99 after hitting -3 just a day earlier—suggesting growing upside momentum.
On the other hand, whale activity continues to decline for the seventh consecutive day, a potential sign of weakening institutional confidence. With ETH stuck between strong resistance at $2,900 and key support at $2,679, the next move could define the short-term market direction.
Ethereum BBTrend Flips Bullish: What 4.99 Means for Price Action
Ethereum’s BBTrend has surged to 4.99, rising sharply in the past few hours after hitting a negative peak of -3 just yesterday.
This sudden momentum shift suggests a potential reversal from bearish to bullish conditions, as the trend strength has turned positive and is now approaching the upper threshold that typically signals a breakout scenario.
BBTrend, or Bollinger Band Trend, measures the directional strength of price movement relative to the Bollinger Bands. Values above 0 indicate upward momentum, while values below 0 suggest bearish pressure.
A reading around 4.99 indicates strong bullish momentum. If this trend holds or strengthens, it could signal further upside for ETH as traders interpret the move as a shift in market sentiment and positioning.
ETH Whale Count Declines for 7 Straight Days: Bearish Signal Ahead?
The number of Ethereum whales—wallets holding between 1,000 and 10,000 ETH—has steadily declined to 5,378, down from 5,427 just ten days ago and 5,400 three days ago.
These whales often gauge institutional or high-net-worth investor sentiment, and sustained reductions in their numbers typically indicate either profit-taking, risk reduction, or decreased confidence in near-term price action.
Tracking whale activity is crucial because these large addresses have the power to influence market trends through their trades. When whale counts increase, it’s often interpreted as accumulation, which can signal strong conviction in future price growth.
This behavior can weaken price support and lead to increased volatility. If the downtrend in whale count continues, it could place downward pressure on ETH and increase the risk of a broader market pullback.
Ethereum Approaches Critical Support as $2,900 Resistance Holds
Ethereum recently failed to break through the resistance near $2,900 and is now trending lower, approaching a key support level at $2,679. If this support is tested and fails to hold, the next downside targets are $2,479 and potentially $2,326, especially if bearish momentum accelerates.
These levels are critical, as a confirmed break below them would indicate a shift in short-term market structure and could trigger further selling pressure.
With whale activity declining and market sentiment appearing cautious, Ethereum is now at a technical crossroads.
On the flip side, the BBTrend indicator has shown a strong bullish reversal, suggesting buying pressure may be building. If Ethereum regains momentum and successfully retests and breaks the $2,900 resistance, it could open the door for a rally toward $3,000—a level not seen since February 1.
Such a move would likely reinforce bullish sentiment and attract renewed interest from sidelined traders.
However, for that scenario to play out, bulls must first reclaim lost ground and flip $2,900 into a solid support zone.
The Middle East and North Africa (MENA) region is quickly becoming a notable force in the push for global crypto adoption. With growing participation from institutions and enterprises and supportive regulations for Web3 technology, MENA is set to expand its impact.
BeInCrypto interviewed Stephan Apel, CEO of Outlier Ventures, to explore the characteristics of these tech-driven economies and their anticipated innovations.
Web3 Adoption and Market Growth
MENA has emerged as a significant center for Web3 development, facilitated by a combination of demographic, technological, and cultural factors. The region’s entrepreneurial spirit has also fostered an environment conducive to the adoption of decentralized technologies.
“The MENA market has set a standard for adopting next-gen technologies and using them to boost their economic transformation. This is especially true for Web3 technologies— the region recognised their potential early on, offering the resources needed for these projects to scale and thrive on both regional and global levels,” Apel told BeInCrypto.
Consequently, the region is witnessing an increase in startups, investors, and developers exploring Web3 and its diverse applications.
A 2024 Chainalysis report revealed that MENA was the seventh biggest crypto market worldwide. From July 2023 to June 2024, the region saw $338.7 billion in online crypto transactions, representing 7.5% of all crypto transactions globally.
Share of all cryptocurrency transaction value by region. Source: Chainalysis.
Notably, Turkey and Morocco ranked among the top 30 countries globally in crypto adoption. Turkey secured the 11th spot, while Morocco ranked 27th. These nations alone accounted for $137 billion and $12.7 billion in received cryptocurrency value, respectively.
Furthermore, the MENA region’s crypto activity is predominantly driven by institutional and professional players, as a substantial 93% of all value transferred involves transactions exceeding $10,000.
Meanwhile, Gulf Corporation Council (GCC) members have distinguished themselves through their ambitious technological initiatives.
MENA’s Strategic Shift Towards AI
The onset of artificial intelligence (AI) has prompted governments and businesses within the Middle East to acknowledge the global trend towards related advanced technologies. Countries like Qatar, Saudi Arabia, and the United Arab Emirates (UAE) are considering their strategic position concerning this technological transformation.
According to a report by PricewaterhouseCoopers (PwC), AI could contribute up to $15.7 trillion to the global economy in 2030. The consulting firm predicts that the Middle East will bring 2% of the total global benefits, equal to $320 billion.
MENA’s pioneering role in AI development. Source: PwC.
The PwC report also indicates that Saudi Arabia will see the largest absolute gains from AI by 2030, with an estimated US$135.2 billion added to its economy, or 12.4% of GDP. In terms of GDP percentage, however, the UAE is expected to see the greatest impact, approaching 14% of its 2030 GDP. Meanwhile, for GCC states Bahrain, Kuwait, Oman, and Qatar, AI is expected to contribute 8.2% of their GDP.
Given the region’s latest initiatives and investments in AI innovation, these numbers come as no surprise.
Saudi Arabia’s AI Development Initiatives
In 2016, the Saudi Arabian government launched Vision 2030, a program to promote economic, social, and cultural diversification. Integral to this vision is a strategic shift towards artificial intelligence and data-driven innovation, a key component of the nation’s economic diversification efforts.
Saudi Arabia is making notable advancements in AI. The country aims to reduce its reliance on oil by developing advanced technology sectors through targeted investments, infrastructure development, and workforce training.
“Fueled by its Vision 2030 initiative, Saudi Arabia has already created a thriving startup ecosystem, dedicated significant investment in emerging technologies,and designed policies to attract global talent and entrepreneurship,” Apel told BeInCrypto.
The Saudi Data and Artificial Intelligence Authority (SDAIA) spearheads Saudi Arabia’s push into artificial intelligence, shaping and implementing the country’s national data and AI strategy. The National Data Bank is a cornerstone of their efforts. It is designed as a central hub for data access and analysis, facilitating AI applications across public and private sectors.
Last November, Saudi Arabia also unveiled Project Transcendence. The $100 billion investment initiative focuses on accelerating the integration of AI and advanced technologies.
Similar to its neighbor, the UAE has actively pursued AI adoption.
UAE’s AI Strategy and Investments
In 2017, the UAE launched its National Strategy for Artificial Intelligence, which aims to make the country a global leader in the field by 2031. The UAE AI and Blockchain Council oversees this strategy, which impacts sectors like education, energy, and tourism.
The UAE is already reaping the benefits of its AI initiatives. In April, Microsoft announced a $1.5 billion investment in G42, an Abu Dhabi-based technology holding company. G42 is known for its data centers and the development of Jais, a leading Arabic-language AI model.
In September, G42 and Nvidia partnered to create AI-driven solutions for improved weather forecasting. The collaboration aims to advance climate-related technologies by using Nvidia’s Earth-2 platform, which enables AI-augmented climate and weather simulations.
Three months later, Abu Dhabi-based global technological ecosystem Hub71 partnered with Google to boost startup growth in the UAE. This collaboration will bring Google’s “Google for Startups” program to Abu Dhabi, including a dedicated accelerator for Hub71 startups in 2025.
He also drew attention to the planned convergence of AI and Web3 technologies in these prominent regions.
Convergence of AI, Web3, and IoT
Integrating the Internet of Things (IoT), blockchain, and AI technologies is gaining traction among businesses in the Middle East. By combining these technologies, organizations can access new avenues for growth, increase efficiency, and create novel user experiences.
In 2018, the Dubai Airport Freezone Authority launched Dubai Blink, a platform that integrates AI, blockchain, and virtual licenses to facilitate global trade. This system enhances supply chain innovation through ‘smart commerce’ by expediting trade with a unified online platform. Furthermore, it addressed the cumbersome process of supplier identification by using AI algorithms to streamline and accelerate the validation process.
Ultimately, MENA’s proactive approach to technological advancement, coupled with its strategic focus on Web3 and AI, signals a future where the region will be a pivotal architect in shaping the digital economy.
A death cross appeared on HBAR’s daily chart on April 14, signaling potential downside. However, the token has defied bearish expectations, rallying 20% over the past two weeks amid a broader market rebound.
While bullish momentum has cooled slightly in recent days, the bulls remain in control. If demand grows further, the HBAR token could be poised for more upside.
HBAR Bulls Stay in Control After Death Cross
A death cross occurs when an asset’s short-term moving average—typically the 50-day—crosses below its long-term moving average, usually the 200-day.
This crossover means the asset’s recent price momentum is weakening, and a longer-term downtrend may take shape. The pattern often signals increased selling pressure as traders usually interpret it as a marker of a negative shift in market sentiment.
However, this is not always the case, especially in volatile or recovering markets where price action can defy traditional technical signals. For instance, HBAR’s value rocketed 20% in the past two weeks.
Although the bullish momentum has eased slightly over the last three trading sessions, the bulls remain firmly in control. Readings from HBAR’s Moving Average Convergence Divergence (MACD) indicator confirm this.
While the bars that make up this indicator have diminished over the past three days—reflecting a slowdown in bullish momentum amid broader market consolidation—the MACD line remains above the signal line, indicating that buying pressure still prevails among traders.
This setup hints at the likelihood of further price gains despite the death cross.
HBAR Climbs Steadily—Will It Hold the Line or Slip Back to $0.15?
Since April 16, HBAR has traded along an ascending trend line, a bullish pattern formed when an asset consistently posts higher lows over time. This indicates growing investor confidence and sustained upward momentum, even amid short-term pullbacks.
For HBAR, this trend suggests buyers continue stepping in at increasingly higher price points, reinforcing support levels. If the trend holds, it could pave the way for further gains, especially if market sentiment remains positive.
HBAR’s price could break above the $0.19 resistance in this scenario and rally toward $0.23.
