As US President Donald Trump and his family increase their engagement in digital assets, the cryptocurrency globe is abuzz with debate over transparency, regulatory control, and possible corruption. Their projects comprise two popular meme coins, $TRUMP and $MELANIA, a token-issuing exchange named World Liberty Financial, and American Bitcoin, a crypto mining company slated to go public backed by Eric and Donald Trump Jr. These endeavors, which have been reported to increase Trump’s net worth by nearly 40% — approximately $2.9 billion — are giving the Trumps unprecedented opportunities for financial influence, particularly given the anonymity and global reach of cryptocurrencies. For instance, at a recent private dinner for top $TRUMP meme coin holders, CNN reports that the top 25 holders were promised direct access to President Trump and a “VIP tour” of one of his private clubs. In an interview with CNN, Jordan Libowitz, the vice president for communications at… Read More at Coingape.com
Solana price has recently made efforts to recover the losses it experienced earlier this month. However, these attempts have been stalled by crucial holders choosing to sell, putting significant pressure on the price.
Despite this, new investors remain bullish, hoping for further upside in the near term.
Solana Holders Are Selling
Last week, Solana’s long-term holders (LTHs) shifted from selling to accumulation, offering hope for a price recovery. Unfortunately, this shift was short-lived, as the HODLer net position change has since dropped back below the zero line.
This indicates that LTHs are back to selling, which could exert downward pressure on the price.
Given that LTHs control a large portion of the market’s supply, their selling activity significantly influences Solana’s price action.
This selling trend could lead to further declines, especially if the momentum continues in the coming days.
Solana HODLer Net Position Change. Source: Glassnode
On a more positive note, Solana is experiencing a sharp uptick in new addresses, signaling growing interest in the altcoin. This trend highlights that, despite volatility, new investors are optimistic about Solana’s potential.
The increase in new addresses suggests that Solana is gaining traction, particularly among those looking to capitalize on potential price gains.
The influx of new investors indicates that there is still substantial confidence in Solana’s future. This optimism could play a critical role in helping the cryptocurrency weather its recent volatility.
At the time of writing, Solana is trading at $146, reflecting a 5.6% increase over the last 24 hours. The altcoin is currently facing resistance at $150, a crucial barrier for the price to surpass.
However, unless stronger bullish signals emerge, Solana may struggle to break through $150 before Q3 begins.
The altcoin could hover around the $144 mark or even dip to $136. This could result in a consolidation period as investors await clearer cues from the broader market.
On the other hand, if the broader market turns bullish, Solana’s price could surpass the $150 resistance level.
A break above this price, followed by flipping $152 into support, would invalidate the bearish outlook and signal a strong upward move for the altcoin.
Bybit, one of the world’s leading centralized crypto exchanges, is preparing to enter the decentralized finance (DeFi) space with the launch of Byreal, its first on-chain trading platform.
The platform will go live on the Solana network, with its testnet debut set for June 30 and the mainnet launch expected in the third quarter of this year.
Byreal aims to offer users a seamless experience with CEX-level liquidity, rapid execution, and low slippage, all while preserving the transparency and autonomy native to DeFi.
Byreal incorporates features like Request for Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing to achieve this.
These tools are designed to shield users from maximal extractable value (MEV) attacks and provide more efficient price execution.
Byreal will also roll out innovative features to improve user access and token distribution. These include the “Reset Launch” mechanism, which uses Smart Price Laddering and the Faishare Engine to ensure fairer token allocations.
Additionally, the DEX will include a Revive Vault, offering curated yield opportunities for assets such as bbSOL and other Solana-based tokens.
Bybit CEO Ben Zhou described Byreal as a critical step in the company’s vision of hybrid finance—an emerging model that combines the advantages of centralized and decentralized exchanges.
Announcing Byreal — our first onchain DEX incubated by Bybit, will be LIVE by end of the month. Starting from scratch and now born on Solana. what’s special: 1/ CEX + DEX synergy Byreal isn’t “just another DEX.” It’s combining CEX-grade liquidity with DeFi-native transparency.… https://t.co/JU60e4zHQ4
Bybit’s move sets it apart from competitors like Coinbase and Kraken, which have concentrated efforts on Layer 2 solutions. Instead, Bybit is positioning Byreal to go head-to-head with leading DEX platforms such as Uniswap, PancakeSwap, and Hyperliquid.
BitMEX made a bold announcement this afternoon, claiming it foiled a major hack attempt from the Lazarus Group. The exchange’s security team analyzed the hackers’ code, revealing some interesting new information.
The malware had surprisingly poor operational security, allowing BitMEX to trace the IP addresses and active hours of several members. Still, the firm acknowledged that it only beat Lazarus’ second-string hackers, not their best.
However, Lazarus’ recent attempt to hack BitMEX was prevented, according to a recent blog post.
A Lazarus hacker attempted to phish a BitMEX employee by sending them a phony request to collaborate on a Web3 NFT marketplace project. This employee alerted security, who played along with the scammer to obtain the malware bait. From there, BitMEX analysts dismantled it, gleaning knowledge of the group’s organization:
“Throughout the last few years, it appears that the group has divided into multiple subgroups that are not necessarily of the same technical sophistication. This can be observed through… bad practices coming from these ‘frontline’ groups that execute social engineering attacks when compared to the more sophisticated post-exploitation techniques,” BitMEX claimed.
Specifically, BitMEX identified a lot of sloppy work in the initial malware. This allowed analysts to find a list of IP addresses from compromised computers; furthermore, they identified test runs.
One Lazarus member based in China left incriminating info in this database, which BitMEX used to get a profile of other members and their working schedules.
BitMEX’s work here can go a long way towards piercing the Lazarus Group’s image of danger and hyper-competence. BitMEX, a long-running derivatives exchange, seems like an unexpected candidate to make these discoveries.
Rather than a famous crypto sleuth, a private firm that’s been out of the news lately managed to crack this code.
Still, it’s important not to overstate the situation. The Lazarus Group sent their B-team to try and breach BitMEX, but much more advanced hackers would’ve exploited a successful breach.
BitMEX exploited the group’s sloppy operational security, but its members remain wholly anonymous. In all likelihood, they’ll have plenty of future successes on softer targets.
