DOGE News:- In a latest exciting crypto funding update, the application layer of Dogecoin ecosystem, DogeOS, has raised $6.9 million funding for its launch.
The funding led by Polychain Capital aims to launch and work for enhancing the operability of DogeOS on Dogecoin. The app layer plans to bring consumer applications in the Dogecoin ecosystem.
The project was unveiled last year in November 2024 and launching today. The kind of applications it aims to integrate in Dogecoin ecosystem include fun games and more real-world utility focused applications.
In simple words, DogeOS would serve as the layer-2 network of these apps built on Dogecoin.
What is the New App Layer DogeOS
As per the latest DOGE news, DogeOS will enable developers to build diverse consumer apps on the memecoin layer. This would range from gaming to artificial intelligence focused decentralized applications.
This app layeris built on top of the blockchain – DOGE and is created by the founders of MYDOGE.
It lets developers build decentralized apps (dApps)that use the blockchain for things like payments, identity, or asset ownership.
The newly secured funds will be used by the app layer toenhance DogeOS’s capabilities. The creation of applications and other DeFi services can bolster DOGE which is facing legal challenge on its commodity status.
This development is expected to attract a broader user base, particularly 3.83 million Dogecoin community or ‘Shibes’, and stimulate increased activity within the Dogecoin network.
MyDoge CTO Alex said in a X post, “This application layer adds programmability to the settlement layer [of DOGE] to enable everything possible in web3 and more!”
Dogecoin is the people’s currency. Think of it as a sound money settlement layer for all transactions. Cheap, fast, accessible and secure.
On top of that is @DogeOS which allows for applications to orchestrate Dogecoin in new, fun and useful ways.
The app layer launch is built and launched by the founders of MyDoge Wallet = CTO Alex and Jordan Jefferson, CEO of MyDoge.
MyDOGE was officially launched in December 2021 as a non-custodial Dogecoin walletdesigned for sending, receiving, and storing DOGE.
As of 2025, MyDoge has over 500,000 users. This makes it one of the most widely used wallets in the Dogecoin ecosystem.
Thus, with over half a million users already usingMyDoge as their preferred wallet, the demand for native Dogecoin experiences is evident.
The newly launched DogeOS will ride on this demand,unlocking new use cases and fostering DOGE-focused economy.
Further, the app layer launch comes as another boost to the ongoing efforts working to create a DOGE-centered ecosystem.
In March, House of Dogs announced the creation of Official Dogecoin Reserve to drive the adoption of DOGE as Payments currency. On April 28, 21shares has also filed for DOGE ETF in NASDAQ.
Thus, with the app layer launch, the upcoming applications will allow the use of DOGEfor real-world utility services. This can potentially transform Dogecoin from a cultural phenomenon into a robust ecosystem supporting a multitude of decentralized applications.
Seth Wilks and Raj Mukherjee, two key cryptocurrency policy leaders at the U.S. Internal Revenue Service (IRS), have resigned after accepting government-offered “DOGE Deferred Exit Deals.” Both joined the IRS in 2024 from the crypto industry, playing vital roles in shaping the agency’s crypto tax policies and developing the new 1099-DA tax form. Their departure marks a shift in leadership as the IRS continues to refine its approach to cryptocurrency taxation.
The post IRS Crypto Policy Leaders Step Down After Accepting “DOGE Exit Deals” appeared first on Coinpedia Fintech News
Seth Wilks and Raj Mukherjee, two key cryptocurrency policy leaders at the U.S. Internal Revenue Service (IRS), have resigned after accepting government-offered “DOGE Deferred Exit Deals.” Both joined the IRS in 2024 from the crypto industry, playing vital roles in shaping the agency’s crypto tax policies and developing the new 1099-DA tax form. Their departure …
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.
Bitcoin (BTC) is poised to reach significant price milestones in 2025, backed by optimistic forecasts from Matrixport, Willy Woo, and other institutions.
With support from ETFs and a positive market sentiment, Bitcoin is a speculative asset and a promising long-term investment option. However, if the profitable supply exceeds 90%, the market must remain cautious of potential corrections.
Numerous Positive On-Chain Metrics
The Bitcoin market is showing encouraging signs as the supply on centralized exchanges (CEX) has dropped to a 7-year low. According to data from CryptoQuant, only about 2.492 million BTC remain on exchanges. This is a sharp drop from 2.488 million BTC, recorded on the previous Friday.
Moreover, CryptoQuant reports that the percentage of Bitcoin’s supply in profit has surpassed 85%, a historically high figure. However, they caution that if this ratio exceeds 90%, the market may enter a “historic euphoria” phase and face a correction. This suggests that while the current metrics are favorable, vigilance is required to navigate potential volatility.
Over the past seven days, Coinglass data recorded approximately 56,164.88 BTC being withdrawn from CEX platforms. This indicates that investors are accumulating and reducing selling pressure, which is often seen as a bullish signal. A reduced supply on exchanges lowers selling pressure, paving the way for price growth.
Additionally, new capital inflow into the market is rising. According to a CoinShares report, $3.2 billion poured into Bitcoin funds in the last week of April 2025. These factors are bolstering confidence that Bitcoin could soon hit significant price targets.
Experts’ Optimistic Forecasts for BTC
Amid a generally optimistic market outlook, numerous experts and organizations have expressed positivity regarding BTC’s price. Matrixport, a reputable crypto service platform, asserts that Bitcoin’s upward momentum is gaining strength.
In its latest analysis, Matrixport indicated that Bitcoin is approaching the $106,000 resistance level, with a strong likelihood of breaking through this mark soon. Previously, Matrixport had predicted that new capital inflows into the market would propel Bitcoin past the $100,000 threshold.
Willy Woo, a renowned analyst in the crypto industry, also shared an optimistic view on X. He believes that Bitcoin’s fundamentals have shifted to a bullish state, with the market likely to either move sideways or rise slowly in the coming period.
“BTC fundamentals have turned bullish, not a bad setup to break all-time highs,” he stated.
Woo emphasized that the “bullish ascending triangle” pattern he previously mentioned is forming, signaling a potential strong upward move if Bitcoin breaks through the resistance level.
Furthermore, a Coinness report revealed that 45.4% of South Korean investors believe Bitcoin will outperform gold in the next six months. It reflects strong confidence from a key Asian market.
Additionally, as reported by BeInCrypto, ARK Invest predicts that Bitcoin’s price could reach $2.4 million by 2030, driven by the growth of Bitcoin ETFs and increasing adoption by financial institutions. These long-term forecasts further reinforce the belief that Bitcoin’s potential extends far beyond the $100,000 mark, with significant growth prospects in the future.
