Solana continues solidifying its leading position in the crypto market, achieving network revenue exceeding $271 million in Q2 2025.
This remarkable performance shows Solana’s dominance over other Layer-1 and Layer-2 chains. Its ecosystem and growing adoption continue to drive investor confidence.
Solana Revenue Rockets Past All Chains for Third Straight Quarter
Revenue charts from Q2 2016 to Q2 2025 show Solana maintaining steady growth, while other chains like Ethereum and Tron experienced sporadic spikes but lacked consistency. Total network revenue reached $685.97 million, with Solana accounting for nearly 40%, demonstrating its competitive edge.
Decentralized applications (DApps) on Solana have also led in weekly revenue for 10 consecutive months, proving that Solana excels in infrastructure and as an ideal developer environment.
Another highlight is Solana’s record-high Bitcoin trading volume in Q2 2025, reflecting increased cross-chain trading activity and its pivotal role in decentralized finance (DeFi).
Bitcoin trading volume on Solana. Source: SolanaFloor
The total value of tokenized real-world assets (RWA) on Solana rose to $418 million, a new all-time high. At this level, Solana trails Aptos (APT), which reached $538 million.
With fast transaction processing speed and low costs combined with the explosion of meme coin launchpads such as LetsBonk or Pump.fun, Solana continues to attract attention from both individual and institutional investors.
However, analyst RuzTV on X suggests SOL’s price may correct to $143 before a strong breakout. SOL is currently trading at $151.
Charts from Blockworks also indicate that chains like Arbitrum and Optimism are gradually closing the gap. Maintaining its leading position will require Solana to innovate continuously to stay ahead of competitors like Ethereum, which is improving its L2 scalability.
Vanadi, a Spanish coffee chain, is planning to invest more than $1.1 billion in Bitcoin as part of its new reserve strategy. This is part of a growing trend in corporate boardrooms worldwide.
The firm isn’t planning to use BTC to supplement its income but rather to fully become a Bitcoin-first entity. After losing money in 2024, Chairman Salvador Martí is taking a gamble on Web3.
Local media recently reported that Vanadi Coffee SA, a Spanish firm, is going to invest $1.1 billion in Bitcoin.
Some major firms have employed Bitcoin reserves to augment a diversified portfolio, but that isn’t Vanadi’s aim. Board Chairman Salvador Martí is planning to fully reorient its posture from coffee to Bitcoin, similar to MicroStrategy. The firm’s next board meeting is on June 29, and Martí clearly described turning Vanadi into a BTC-first company.
“I ask the board for authorization to implement the Bitcoin accumulation strategy with a maximum of 1 billion euros ($1.1 billion USD) and carte blanche to negotiate one or more lines of convertible financing to finance the implementation of the strategy,” Martí reportedly claimed.
Martí’s plan follows MicroStrategy in several clear ways. Much like Michael Saylor, Martí plans to make a huge new offering of Vanadi stock to fund these Bitcoin acquisitions.
He already made the first purchase, buying 5 BTC for roughly $500,000 two weeks ago. This larger commitment caused Vanadi’s stock to jump up, but most of today’s gains later evaporated:
This chaotic stock performance highlights the possible dangers of Vanadi’s pivot to Bitcoin. BTC may be less volatile than usual at the moment, but it can be extremely unpredictable regardless.
Solana has seen impressive price gains recently, reaching a two-month high and coming close to breaching the $180 mark.
However, it faces a crucial resistance level that has kept the altcoin from pushing past $200. With market conditions and investor behavior at play, the journey to $200 may be challenging for Solana.
Solana Investors Move To Sell
Many Solana (SOL) holders are choosing to book profits, contributing to a rising Realized Profit/Loss ratio. This indicator has surged to 15.0, signaling that excessive selling could be a concern. Historically, when this ratio crosses the 10.0 threshold, it often leads to short-term price corrections.
This profit-taking behavior could also exacerbate market volatility, potentially delaying or halting Solana’s rally. The influx of sales could weigh on the price, even as Solana has managed to make significant gains over the past month.
Solana’s technical indicators also suggest that its bullish momentum might be nearing saturation. The Relative Strength Index (RSI) currently sits above 70.0, placing Solana in the overbought zone.
This suggests that the altcoin’s rally could be reaching its peak, similar to what occurred in mid-January 2025, when Solana’s price saw a drop after hitting similar levels. The RSI, combined with investor behavior, signals that Solana’s price may be nearing a short-term decline.
Solana’s price has surged by 61% over the last month, trading at $170 at the time of writing. The altcoin is just under the resistance of $180, not too far from the long-awaited $200 mark.
If the current momentum continues, Solana could break past this resistance and rally towards the $200 milestone, sparking further interest and investment.
However, the factors discussed above may cause concern for Solana’s price. The combination of increased selling pressure and overbought technical indicators could lead to a reversal.
In this case, Solana’s price may fall to $161 or lower, with the $148 level potentially becoming the next key support. This would keep the 3-month barrier of $180 intact, delaying the long-awaited breakthrough.
On the other hand, if the SOL being sold is absorbed by new investors, and the price can hold its gains, Solana may push past the $180 resistance. This would open the path to $200, invalidating the bearish outlook and continuing its bullish trend. Such a move would require sustained market confidence and demand to overcome the current barriers.
Welcome to the US Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see why Standard Chartered thinks XRP could soon leapfrog Ethereum, how Tether’s institutional pivot might reshape the stablecoin market, and how players like BlackRock, Galaxy Digital, and the Federal Reserve could shape crypto’s next chapter.
Standard Chartered says XRP Set to Outperform, Could Overtake Ethereum by 2028
As global trade tensions intensify, Standard Chartered sees a silver lining for crypto investors, urging them to focus on long-term winners poised to benefit from the disruption.
“Tariff noise creates the opportunity to look for long-term value/pick winners in Digital Assets for the next leg higher. Today we add XRP to that list of winners (BTC and AVAX other identified winners, ETH identified loser). XRP’s core use is as a cross-border and cross-currency payments platform. That part of Digital Assets is undergoing a shift higher in volumes, something we see continuing. By the end of 2028 we see XRP’s market cap overtaking Ethereum’s. That will make XRP the second largest (non-stablecoin) Digital Asset at that time. Keep looking for winners and HODLing those you already own”, Geoff Kendrick, Standard Chartered’s Head of Digital Asset Research, in an email to BeInCrypto.
Kendrick also pointed to Bitcoin’s resilience as a signal of what’s to come for the broader crypto market.
“Tariff mess will be over soon, and Bitcoin’s solid performance during the noise tells us a leg higher for the asset class will follow” he said.
He also points out important points about the recent performance of XRP:
“XRP price rose 6x in the two months following Trump’s election victory, the strongest performance among the top 15 digital assets by market cap. This reflected market expectations that the SEC would drop its appeal of a court ruling concerning Ripple, as well as the potential for XRP ETFs to be approved under new SEC leadership.”
But Kendrick believes the fundamentals — not just politics — are driving XRP’s momentum.
“We think these gains are sustainable, not just because of recent leadership changes at the SEC but also because XRP is uniquely positioned at the heart of one of the fastest-growing uses for digital assets – facilitation of cross-border and cross-currency payments. In this way, XRPL is similar to the main use case for stablecoins such as Tether: blockchain-enabled financial transactions that have traditionally been done through traditional financial (TradFi) institutions. This stablecoin use has grown 50% annually over the past two years, and we expect stablecoin transactions to increase 10x over the next four years. We think this bodes well for XRPL’s throughput growth, given the similar use cases for stablecoins and XRPL.”
Tether’s Big Play: Institutional-Grade Stablecoin Targets US Market
Charles Wayn, co-founder of decentralized Web3 super-app Galxe, told BeInCrypto that:
“The news that Tether is planning to launch an institutional-grade stablecoin for the US market is fantastic for the crypto industry. Tether pioneered stablecoins with its first launch over a decade ago in 2014, and its flagship product — USDT — is now the third largest cryptocurrency in the world. Unlike its rival, USDC, USDT has never been formally audited, leading to frequent questions over its balance sheet. Nonetheless, it remains the industry’s favored stablecoin, shown by its market cap of over $144 billion, which is well over double the size of USDC’s $60 billion.”
Wayn believes this move, along with Tether’s push for transparency, positions the company as a future leader in institutional crypto adoption.
“As such, this move, combined with other recent news that Tether is seeking a full audit from a Big Four accounting firm, shows that the company is not only willing to be compliant but also be a leader in institutional adoption. While USDT sadly did not pass the EU’s directive on stablecoins under MiCA, this new product will likely be designed to pass new legislation coming from the US.”
He adds that institutional momentum — fueled by players like BlackRock — reinforces why now is a pivotal moment for stablecoins and broader market stability.
“As such, there is little doubt that USDT will work hard to launch its new product in good time. As we see huge institutions like BlackRock further entering the market with another $66 million purchase of Bitcoin last week, along with the rapid growth of its RWA BUIDL fund, institutional adoption is now taking off rapidly.”
Crypto Chart of the Day
Total Stablecoin Market Cap and BTC Price. Source: Coinglass.
Stablecoins total market cap is currently close to its all-time highs, above $210 billion.
Byte-Sized Alpha
– Analysts warn that a return to Quantitative Easing in 2025 could ignite a massive crypto rally, potentially pushing Bitcoin toward $1 million and sparking a surge in altcoins.
– Zero inflows into Bitcoin ETFs and declining futures interest hint at fading investor confidence, though rising put contracts and positive funding rates point to cautious optimism.
– Galaxy Digital secures SEC approval to reorganize and move toward a May 2025 Nasdaq listing, signaling renewed confidence in crypto amid improving US policy support.
– Binance Research shows that during tariffs, RWA tokens outperform Bitcoin, as rising macro pressures weaken BTC’s role as a diversification asset.
– MicroStrategy’s pause in Bitcoin buying last week, amid $5.91 billion in unrealized losses, signals growing caution and raises questions about liquidity, debt, and broader institutional confidence.
