BNB currently dominates the exchange token segment and attracts capital inflows from institutions and the community.
If the current trend continues, BNB could remain at the center of the next altcoin wave. However, short-term volatility and profit-taking pressure are factors that need close monitoring.
This has pushed BNB’s market capitalization to $114.36 billion, officially surpassing Nike and MicroStrategy.
Assets Ranked By Market Capitalization. Source: 8marketcap
“That strength isn’t cosmetic — it powers both Binance and BNB Chain, and the ongoing burn tightens supply as on-chain activity grows,” commented X user Daniel Nita.
With this strong growth, BNB dominates the exchange token segment. It currently accounts for 81% of the total market capitalization of all exchange-based tokens.
This reflects Binance’s brand strength and the appeal of the BNB Chain ecosystem in DeFi, NFTs, and RWAs.
BNB leads the exchange-based token segment. Source: CoinGecko
PancakeSwap, the largest DeFi protocol on BNB Chain, also benefits from this price rally. BNB’s ATH has attracted new capital inflows into CAKE, thanks to the close liquidity and market sentiment relationship between the two tokens.
Beyond Bitcoin and Ethereum, BNB has become a target for institutions looking to build strategic reserves. Recently, Nasdaq-listed company BNC (formerly Vape) spent USD 160 million to purchase 200,000 BNB, making BNC the largest institutional holder of BNB globally.
Previously, Windtree Therapeutics was also seeking to raise USD 520 million to build a BNB reserve. This could mark the expansion of the “BNB treasury” trend among businesses.
Potential to Rise to $1,200
Moreover, crypto analyst Ali shared on X that Binance Coin’s price structure mirrors Bitcoin’s price action. Based on this observation, Ali believes BNB could enter the early phase of a rally toward the $1,200 mark.
While the future price outlook for BNB appears optimistic, BeInCrypto observed that when BNB recently hit its new ATH, some medium-term holders began selling off their BNB, creating certain selling pressure. As a result, investors should be cautious with their leveraged positions to avoid liquidation during BNB’s strong rallies.
The crypto market is showing bullish signs of an imminent altcoin season this week. Meanwhile, several altcoins are going through notable network developments, adding to the optimism.
BeInCrypto has analysed three such altcoins that present the best chances of a rise in the coming week.
Cronos (CRO)
Cronos price is showing signs of sustained growth as anticipation builds for the upcoming POS v6 upgrade on July 28. This significant update will enhance cross-chain compatibility and overall performance.
The development has generated positive sentiment among investors, potentially pushing CRO into a stronger uptrend over the coming weeks.
CRO is currently trading at $0.124 and attempting to secure $0.121 as a reliable support level. A successful bounce could send the altcoin toward $0.133. Notably, the 50-day EMA is nearing a crossover above the 200-day EMA, signaling the possibility of a bullish Golden Cross forming soon.
However, broader market shifts could challenge the bullish outlook. If bearish momentum rises, Cronos could lose its current support and drop to $0.108. Such a decline would negate the current positive structure.
Conflux (CFX)
Conflux (CFX) has seen a major rally, becoming one of the top-performing altcoins in recent days. Boosted by the recent Conflux Conference in Shanghai, CFX surged 97.5% in the last 24 hours. The altcoin is now trading at $0.20, drawing investor attention amid heightened momentum and renewed community optimism.
Excitement continues to grow as Conflux gears up for its 3.0 upgrade, scheduled for early August. This major milestone could act as a bullish catalyst. If CFX rebounds from the $0.17 support level, the altcoin may breach $0.24 and potentially rise toward the key psychological mark of $0.30 in the short term.
However, risk remains if investors begin securing profits after the significant gains. A drop below the $0.17 support could drive CFX lower toward $0.11. Such a move would reverse current bullish momentum, causing traders to reassess expectations as bearish sentiment overtakes the altcoin’s rally.
Bitget Token (BGB)
Bitget, a leading crypto exchange, announced a partnership with Pudgy Penguins for a wellness escape in Kuala Lumpur this week.
Although the event isn’t directly crypto-related, such collaborations often pave the way for more impactful partnerships, potentially enhancing brand visibility and investor interest across meme coin and exchange ecosystems.
BGB price could see gains following this news, especially as technical indicators support a bullish outlook. The Parabolic SAR positioned below the candlesticks confirms an active uptrend.
If momentum holds, the altcoin could push past $5.05, helping Bitget’s token recover losses sustained during the May market correction.
However, bearish pressure may still weigh on BGB in the short term. If prices slip below the key support level of $4.83, further losses could drag the token to $4.46. Such a move would invalidate the bullish outlook and indicate weakening investor sentiment despite the positive market developments.
Want more token insights like this? Sign up for BeInCrypto Editor Harsh Notariya’s Daily Crypto Newsletter here.
Solana has emerged as a powerful presence in the crypto industry. Since its inception in 2020, the network has dominated the market, demonstrating remarkable levels of user engagement and practical utility, particularly in decentralized finance (DeFi). Many in the industry view it as the next natural contender to receive an ETF approval in the United States.
However, others are more cautious in their evaluations. BeInCrypto spoke with representatives from Gravity, Variant, and OKX to understand the areas where Solana is still lacking. Industry leaders referred to centralization, network reliability, and excessive regulation as points of contention for Solana’s ETF approval.
Bitcoin and Ethereum’s Precedent
The availability of exchange-traded funds (ETFs) for prominent cryptocurrencies has grown over the past year. These funds offer investors diversified investment opportunities and act as a bridge between traditional finance and the increasingly mainstream cryptocurrency market.
Meanwhile, the deadline for some filings, including Grayscale’s, was extended until October. Nonetheless, posts on X and some analytical reports suggest yesterday’s deadline as a date of interest for an initial or consolidated SEC response to several applications.
2025 Predictions and Market Expectations
The tentative approval of a Solana ETF has generated much debate across social media platforms. ETF President Nate Geraci formally predicted that 2025 would be the year of crypto ETFs and that Solana would receive its approval this year.
Per previous reports, former Trump White House Secretary Anthony Scaramucci expressed that, with a Trump reelection, Solana ETFs could gain approval during Q1 of 2025. According to his predictions, Solana would receive the SEC’s green light during the next two weeks.
Meanwhile, the prediction market Polymarket estimates an 82% chance that a Solana ETF will get approved in 2025.
According to a Polymarket poll, Solana has an 82% chance of getting an ETF approval in 2025. Source: Polymarket
Several factors make an imminent Solana ETF approval seem plausible. Less than five years after the network launched, Solana quickly became a major player in the crypto industry, attracting users for its high transaction speeds and low gas fees.
“From a network perspective, Solana’s performance has been remarkable, now driving nearly 50% of all global DEX volume– a dominance that fundamentally reshapes the DeFi landscape. The blockchain is not just handling unprecedented transaction volumes… it’s transforming our understanding of blockchain scalability at scale,” Lennix Lai, Global Chief Commercial Officer at OKX told BeInCrypto.
Solana has established itself as a dynamic force in the crypto industry following a successful 2024.
A Messari report detailed particular growth in Solana’s final quarter across DeFi, liquid staking, NFTs, and institutional involvement. The total value locked (TVL) in Solana’s DeFi sector increased substantially, growing by 64% to $8.6 billion, which placed it behind Ethereum as the second-largest network based on TVL.
Solana’s positive performance, coupled with Donald Trump’s reelection to the US presidency, further amplified the crypto industry’s optimism over an ETF approval.
However, some industry experts have expressed more tempered expectations.
Experts Offer Tempered Expectations
A few days before Trump assumed the presidency, Bloomberg Intelligence analyst James Seyffart said Solana ETFs may not be launched in the US until 2026. He cited the SEC’s precedent of taking a lot of time to review filings as the cause for delay.
In another post, Bloomberg Senior ETF analyst Eric Balchunas said that ETF approvals for other cryptocurrencies were more likely to occur before Solana.
“We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the BTC + ETH combo ETFs, then prob Litecoin (bc its fork of btc = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending lawsuits),” Balchunas said.
Balchunas further explained that complex legal issues around Solana, relating to its status as a security, need to be resolved before it can gain ETF approval. Consequently, he deemed the approval of Litecoin or Hedera ETFs more likely.
Uncertainty over whether Solana classifies as a security is a major driver fueling doubts over its ETF approval.
Security Classification Concerns
Martins Benkitis, co-founder and CEO of Gravity, explained that Solana’s regulatory classification complicates its path to approval.
“It’s no secret there’s currently a lack of precedent for Layer-1 blockchains beyond Bitcoin and Ethereum in the ETF space, this suggests cautious optimism but with higher regulatory hurdles. Bitcoin, being a commodity in the SEC’s eyes, and Ethereum’s gradual transition to PoS had different legal considerations. Solana, on the other hand, faces concerns over potential classification as a security due to its token distribution and foundation’s involvement,” Benkitis told BeInCrypto.
The SEC identified Solana as a security in lawsuits against Binance and Coinbase over the past two years, although these lawsuits have since been dropped. The SEC argued that these tokens could be considered investment contracts under the Howey Test.
While some interpreted the SEC’s lawsuit withdrawal as a softening stance on Solana’s security classification, others quickly challenged this assumption.
“There is no reason to think [the] SEC has decided SOL is a non-security. That they don’t want to do discovery on a dozen tokens in the Binance case appears to be a litigation tactic, not a change in policy,” said Jake Chervinsky, Chief Legal Officer at Variant, following the Binance lawsuit withdrawal in July 2024.
Others believe that a pro-crypto administration should be enough to influence the SEC to consider Solana as a non-security. Lai disagrees.
“The changing political landscape, particularly with Trump’s victory and pro-crypto stance, could create a more constructive environment for innovative blockchain platforms like Solana. However, the technical and market structure considerations will remain crucial regardless of administration changes,” he said.
In the meantime, there are several other requirements Solana must meet.
On his part, Lai added other aspects to the list of considerations.
“While Polymarket shows high odds for 2025 approval, several critical factors suggest a more complex pathway: Solana’s technological architecture presents unique challenges with its PoS mechanism; The absence of CME futures raises liquidity and risk management concerns; Historical network downtime incidents need addressing; Centralization questions relative to BTC and ETH remain unresolved; Institutional interest hasn’t matched BTC and ETH levels despite the network driving 48% of global DEX volume; [and] the temporary nature of trending themes suggests caution in using current volumes as primary indicators,” Lai told BeInCrypto.
Concerns about centralization and scalability have long been discussed regarding Solana, even outside of discussions over an ETF approval.
Since 2021, Solana has suffered over a dozen network outages varying in severity. These outages have jeopardized the network’s reputation as stable and reliable– two strongly considered characteristics during the ETF approval process.
“From a market making standpoint, network reliability is crucial as any downtime or congestion can significantly impact trading operations and order execution,” Benkitis affirmed.
However, Solana has successfully curbed the number of outages it has experienced. Once notorious for the frequency of its shutdowns, the last time Solana experienced one was in February 2024.
Meanwhile, developers designed Solana’s upcoming Firedancer validator client to improve network stability and transaction processing. Its distinct codebase offers greater resilience against widespread outages and will enhance Solana’s performance.
Yet, Solana must also mitigate centralization concerns to improve its chances of obtaining ETF approval.
Centralization Concerns
Solana’s validator node requirements, which demand significant hardware investments, can create barriers to entry. These obstacles can potentially concentrate power within the network among those capable of affording the necessary infrastructure.
In turn, the protocol’s limited number of validators compared to other networks raises concerns over centralization. For context, while Solana currently has around 2,000 active validators, Ethereum passed the one million benchmark last year—the largest number recorded by any blockchain network.
Though Solana’s hardware reliance speeds up the network, it also raises decentralization concerns. Benkitis factored this aspect into his evaluation of an ETF approval.
Its currently underdeveloped futures market infrastructure further complicates Solana’s viability as an ETF candidate.
Its filings were unprecedented because the network did not have a previously established futures market. This factor was crucial in determining an ETF approval for Bitcoin and Ethereum.
“The lack of CME futures and institutional frameworks comparable to BTC/ETH could influence [the SEC’s] evaluation,” Lai said.
He added that the proliferation of meme tokens minted on Solana could present themselves as a potential roadblock.
“Market reactions reflect Solana’s emergence as the primary driver of this cycle, with DEX volumes exceeding $100 billion and dominating major aggregators. However, I believe the temporary nature of trending themes suggests continued volatility. While technological advancement and growing institutional adoption may provide stronger foundations, we need to maintain perspective on the cyclical nature of crypto trends,” Lai said.
This more recent development in Solana’s attraction also brings its set of downsides.
Meme Coin Influence and Regulatory Concerns
The expanding meme coin market on Solana partially explains its popularity. Platforms like Pump.fun allow anyone to launch their tokens, and this design has even led to celebrities launching their tokens on the platform.
More recently, political figures like Donald Trump and Argentine president Javier Milei have also launched meme tokens on Solana platforms. Yet, these activities have proven to be high-risk. In many cases, meme coin investments have caused smaller retailers millions of dollars in losses.
Benkitis said that the SEC might frown upon the speculative nature of these trading activities.
“While an ETF approval could unlock liquidity opportunities, the market’s heavy dependence on speculative sentiment calls for a measured and cautious approach,” he said.
With so many considerations, approving a Solana ETF in 2025 is far from guaranteed. The SEC’s eventual decision will be a defining moment for the network and the broader crypto industry.
Pi Network’s latest push for voluntary token lockups has triggered a wave of criticism across its community.
The August 2 announcement encouraged Pioneers to lock up their Pi coins in exchange for boosted mining rates. This sparked a swift backlash on social media, particularly on X (formerly Twitter).
Pi Network Token Lockup Push
The lockup feature allows users to lock PI either before or after migrating to the Mainnet.
According to the latest blog, post-migration lockups via the Pi Wallet offer up to a 200% mining boost and apply directly to Pi, which is already on-chain.
Remember you can voluntarily choose to lock up your Pi to boost your mining rate! The Lockup will be immediately binding until your duration ends. https://t.co/2YrYxP6V0O
Locking up your Pi helps support a healthy ecosystem and incentivize long-term engagement with the network.…
Meanwhile, pre-migration lockups, configured via the main Pi app, influence future transfer balances and reward projections.
Once confirmed, all lockups are binding for the selected duration and cannot be undone.
Pi Community’s Frustration Boils Over
The timing of the announcement has angered many in the Pi Network community.
Users pointed to a declining token price, persistent KYC verification delays, and a stagnant migration process as reasons why trust in the project is eroding.
Many noted that locking up more Pi now—without clear utility or liquidity—feels premature and even exploitative.
Others expressed disappointment with the slow rollout of promised ecosystem features. Tools like Pi Domains and App Studio remain either unfinished or inactive, despite earlier previews.
Pi Network Community Backlash
This lack of follow-through has added to concerns that the project is stalling while still asking users for deeper commitment.
Complaints about the migration queue remain widespread. Some Pioneers report waiting over a year despite completing all KYC steps, with large portions of their balances stuck in an unverified state.
For these users, the option to lock up Pi feels irrelevant when they can’t access their funds.
Several users also criticized the Core Team’s silence on roadmap updates and unresolved bugs, calling for greater transparency and accountability before asking for further user participation.
Community Concerns Over Pi Network Ecosystem Development
Meanwhile, many users are still unhappy that Pi Network hasn’t received wider listing, specifically on Binance.
Overall, Pi coin has dropped nearly 90% from its February high.
Adding further pressure, August marks the release of 160 million unlocked tokens, the largest monthly unlock in Pi Network’s history. The added supply is likely to weigh on an already fragile market.
Earlier this week, Pi Network also implemented its lowest-ever mining rate.
The move was part of its deflationary emission model, intended to control inflation and encourage long-term engagement through lockups.
