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Polymarket, a leading blockchain-based prediction platform, is reportedly in talks to raise $200 million in new funding, which could value the company at over $1 billion, according to The Information. The deal, if completed, would mark a major milestone for crypto-native markets in 2025. Polymarket Seeks Unicorn Status with Fresh Funding According to The Information,
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In an uptrend, Janover, a software company acquiring $4.6M Solana (SOL) would skyrocket prices. However, bear market dampens this bullish development, leaving Solana price to crash below $100 and retest $75, a level not tagged since December 2023.
In a recent filing, Janover, a small US-based software company, announced the acquisition of Solana (SOL) to its treasury as part of its new strategy. This US institution follows MicroStartegy’s (Strategy) path as it raised $42M through a private offering of convertible notes.
As a result of this move, the company’s stock price soared more than 429% in the past four days. Solana price, however, didn’t budge and is likely due to the ongoing bearish outlook involving Trump’s tariff trade war, Bitcoin’s (BTC) bearish market structure and macroeconomic uncertainty.
Due to these conditions, the Solana price could see a further collapse.
From the three-day chart, it is clear that Solana price has shattered the $126 key support level. SOL’s value hovers around $116 after a 2.13% drop today. This barrier provided demand since March 4, 2024, and prevented the token from collapsing. However, a March 29 sell-off flipped this support into a resistance level.
Subsequent attempts to overcome this level have failed, but the $100 psychological level is what’s preventing SOL price from collapsing lower. If the crypto market outlook does not improve or if Trump lifts the 90-day tariff pause, this $100 level will also flip into a resistance. In such a case, the next strong demand area is $74.94. After a consolidation here in December 2023, Solana price exploded nearly 78% in the next nine days.
Hence, a revisit of $75 is likely based on this Solana price prediction in the next few days, especially if the crypto market outlook continues to worsen.
To conclude, sub-$100 Solana is not unlikely if the crypto market outlook remains the same. If Bitcoin catalyzes a bullish reversal, it could provide relief to altcoins, including SOL. In such a case, the price could push toward $126, flip it into a support floor, and allow it to catapult toward the $127 to $168 value area and its highest volume level at $142.
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Cardano price is undergoing a torrid patch as market sentiment turns negative for the tenth-largest cryptocurrency by market capitalization. ADA has fallen by 3% on the 24-hour chart, but weekly charts reveal an even steeper drop for the asset. The recent ETF delay by the SEC and the broader market decline are contributing to Cardano’s underwhelming price performance. Cardano Price Falls By 3% Over The Last Day According to data from CoinMarketCap, the Cardano price has taken a major hit over the weekend to trade at $0.69. The data from the crypto market aggregator indicates that ADA has fallen by 3% in the last 24 hours, accentuating a negative market sentiment. Amid the price decline, daily transaction volumes have tumbled by 17.33% to settle at $841 million. A closer look at the charts reveals an even steeper drop of over 8% in the last seven days for the asset. The… Read More at Coingape.com
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Ark 21Shares Bitcoin ETF (ARKB) will undergo a 3-for-1 share split, effective from June 16, in order to make funds more accessible to investors, announced 21Shares, one of the world’s largest issuers of crypto exchange traded funds (ETFs). In a statement released on Monday, 21Shares, a fin-tech giant, claimed that their recent step to split their stocks 3-for-1 will invite a “broader base of investors thereby enhancing trading efficiency. 21Shares clarified that their decision to spit their share 3-for-1, effective June 16, will not change their total net asset value (NAV) and the shares will continue trading under the ticker symbol ARKB. According to a report in Reuters, ARKB has gained almost 12% so far this year and nearly 27% quarter-to-date. It closed trading at $104.25 on Monday. 21Shares holds the largest suite of crypto ETPs and is one the leading provider of ETFs. ARKB is a physically backed Bitcoin… Read More at Coingape.com
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