The overall cash inflows to Solana DeFi products have gradually grown in the past few weeks.
SOL price has consolidated between $123 and $134 in the past three weeks amid a growing bullish outlook.
The wider altcoin market, led by Solana (SOL), continued with horizontal consolidation akin to Bitcoin (BTC) on Thursday, during the early North American trading session. The rising confidence in the Gold market, amid palpable fears of the U.S. stock market, has helped the wider crypto market gain significant bullish sentiment.
Solana Gets Needed Support from Coinbase and Robinhood
The Solana network received much-needed support from Robinhood Markets Inc. (NASDAQ: HOOD) and Coinbase Global Inc. (NASDAQ: COIN). In a bid to attract mainstream Solana users from DeFi projects, such as Raydium DEX, both Robinhood and Coinbase announced initiatives to incentivize.
On Thursday, Coinbase upgraded its Solana infrastructure to enable 5x faster block processing, 4x better RPC performance, and enhanced reliability for a smoother user experience.
Meanwhile, Robinhood announced a no-network fee for several Solana transactions until June 9, 2025.
SolanaRobinhood Gold
Great news, we now have:
No network fees for transfers on the Solana network on the Robinhood app, up to 10 transfers a month. No network fees for transfers on the Solana network when using Robinhood Connect, up to 5 transfers a month. No network… pic.twitter.com/d95f8eenak
After recording an impressive rally in the past two years, heavily influenced by mainstream adoption of its memecoins, SOL price has significantly convinced more investors of its long-term growth prospects.
According to market data from Binance, more than 71 percent of traders on the crypto exchange with open SOL positions are betting on an imminent bullish breakout.
In the weekly timeframe, Solana price has respected a rising logarithmic trend established since January 2023, thus signaling bullish sentiment. Most importantly, SOL price, against the U.S. dollar, has consistently closed above $126 in the past two weeks, amid ongoing trade war negotiations.
In the four-hour timeframe, SOL price has already broken out of several falling logarithmic trends established by YTD.
In the 1-hour time frame, SOL price has been forming a potential bearish sentiment, characterized by a major resistance level above $134 coupled with a bearish divergence of the Relative Strength Index (RSI). As a result, the SOL price may retest the support level around $123 before continuing with bullish sentiment towards its all-time high.
Traditional airdrop campaigns have often led to short-term speculation rather than sustainable engagement. Many investors claim tokens only to sell immediately, preventing long-term community growth. In response, DeFi projects are now shifting toward structured airdrop systems, linking token distributions to staking, governance participation, and curated rewards programs.
Skyren DAO has adopted this approach through its Token Surge Event, offering 500 free SKYRN tokens to Solaxy and Remittix presale participants. This system ensures that recipients are not only rewarded but also integrated into Skyren DAO’s governance and incentive-driven airdrop ecosystem.
Solaxy and Remittix: Enhancing Blockchain Utility
Skyren DAO selected Solaxy and Remittix due to their high-value contributions to the blockchain ecosystem. Both projects focus on scalability, real-world payments, and financial accessibility.
Solaxy is a Layer-2 scaling solution for Solana, designed to reduce congestion and lower transaction fees. By processing transactions off-chain before settling them on Solana’s mainnet, Solaxy enhances scalability while maintaining Solana’s security model. The project has raised $23 million up to date, demonstrating strong market demand.
Remittix is a blockchain-powered remittance platform that enables fast, low-cost cross-border transactions. Unlike traditional payment providers that charge high fees and require long processing times, Remittix facilitates crypto-to-fiat transfers with minimal costs and near-instant settlement. The project has already raised $12.5 million in its presale, solidifying its place in the global remittance market.
Skyren DAO’s airdrop brings Solaxy and Remittix investors into its governance-driven DeFi model, where token holders benefit from staking rewards and curated airdrop distributions.
How Solaxy and Remittix Investors Can Claim Their SKYRN Tokens
Skyren DAO has streamlined the airdrop process for eligible participants:
Go to the Skyren Website – Navigate toskyren.io/token-surge/ and access the airdrop claim page.
Submit Transaction Data – Provide proof of participation in Solaxy or Remittix presales.
Enter an EVM-Compatible Wallet – Use a valid address for the airdrop distribution.
Receive 500 SKYRN Tokens – Tokens will be airdropped to verified participants after launch.
Once claimed, SKYRN tokens can be used for staking, governance participation, and airdrop rewards.
Maximizing SKYRN Utility: Governance, Staking, and Rewards
The SKYRN token is built to serve as a DeFi rewards asset, allowing holders to participate in governance and receive curated token distributions.
Stake SKYRN for Passive Income
Holders can stake SKYRN tokens and earn continuous rewards, getting a stable income stream while securing network liquidity. Pre-staking options allow early adopters to lock in higher APY rates, maximizing their earnings before SKYRN is publicly traded.
Participate in DAO Governance
Skyren operates as a decentralized autonomous organization (DAO), where SKYRN holders vote on major governance proposals, such as staking structures, platform upgrades, and airdrop distributions.
Exclusive Access to High-Value Airdrops
Instead of random airdrop distributions, Skyren provides curated token rewards, ensuring that every SKYRN holder benefits from vetted blockchain projects.
These incentives turn SKYRN into a long-term rewards asset, ensuring that holders engage with the platform beyond the initial claim. Skyren DAO’s governance model and staking system have been analyzed by Crypto Volt, highlighting the benefits of structured airdrop incentives.
Spin The Wheel: A Reward System for Active SKYRN Holders
Skyren DAO’s Spin The Wheel feature increases engagement by rewarding token buyers with additional incentives.
How It Works
Purchase SKYRN tokens – Every transaction earns spin tickets.
Spin for bonus rewards – Additional SKYRN tokens or staking multipliers.
Higher purchase amounts increase the number of spins.
Instant SKYRN bonuses are credited to winners.
This feature provides continuous engagement, keeping the Skyren community active and invested.
Claim Your 500 SKYRN Before the Airdrop Window Closes
Solaxy and Remittix presale participants have limited time to claim their 500 free SKYRN tokens, gaining access to governance, staking rewards, and curated airdrop programs. This marks a shift toward long-term DeFi incentives, ensuring that investors actively participate in structured airdrop rewards.
Complete the verification process today to secure SKYRN tokens before the claim period ends.
Get updates on DeFi rewards and governance: X (Twitter)
Join discussions with the Skyren DAO community: Telegram
The post Solaxy and Remittix Backers First to Access Skyren DAO’s Generous Token Surge appeared first on Coinpedia Fintech News
Traditional airdrop campaigns have often led to short-term speculation rather than sustainable engagement. Many investors claim tokens only to sell immediately, preventing long-term community growth. In response, DeFi projects are now shifting toward structured airdrop systems, linking token distributions to staking, governance participation, and curated rewards programs. Skyren DAO has adopted this approach through its …
The crypto market in 2025 is facing intense turbulence. The capitalization of once-hot trends like meme coins has plummeted. Capital has flowed out of decentralized finance (DeFi) protocols, driving DeFi’s total value locked (TVL) down from $120 billion to around $87 billion.
In this context, Sonic stands out. It has consistently hit new TVL highs, reaching $1 billion in April after growing nearly 40 times since the beginning of the year. So, what makes Sonic a bright spot amid a stormy market?
Investors Are Pouring Capital into Sonic
Sonic has made its mark with a rapid TVL growth rate, far outpacing better-known blockchains. According to DefiLlama, Sonic reached $1 billion in TVL within 66 days. In comparison, Sui took 505 days, and Aptos needed 709.
This achievement reflects strong capital inflows into the Sonic ecosystem despite the broader DeFi trend of capital withdrawal. Data from Artemis supports this, ranking Sonic as the second-highest netflow protocol this year—trailing only Base, a blockchain backed by Coinbase.
The growth goes beyond TVL numbers. Sonic’s ecosystem is attracting various projects, including derivatives exchanges like Aark Digital and Shadow Exchange and protocols such as Snake Finance, Equalizer0x, and Beets. These projects still have small TVLs, but they have the potential to draw new users and capital, fueling Sonic’s momentum.
However, the question remains: Can this capital inflow remain sustainable while the market fluctuates?
Andre Cronje on Sonic’s Potential and Strengths
Andre Cronje, the developer behind Sonic, shared his ambition in an interview to push this blockchain beyond its competitors.
“Sonic has sub-200 millisecond finality, faster than human responsiveness,” Andre Cronje said.
According to Cronje, Sonic isn’t just about speed. The platform also focuses on improving both user and developer experience. He explained that 90% of transaction fees go to dApp, not to validators, creating incentives for developers to build.
Unlike other blockchains, such as Ethereum, which are limited by long block times, Sonic leverages an enhanced virtual machine that theoretically processes up to 400,000 transactions per second. Cronje acknowledges, however, that current demand has yet to push the network to its full capacity. Still, these technical advantages make Sonic a compelling option for developers seeking more user-friendly dApps.
He also revealed new features on Sonic that have the potential to attract users.
“If your first touch point with a user is to download this wallet and then buy this token on an exchange, you’ve lost 99.9% of your users. They’ll use their Google off-email password, fingerprint, face, whatever it is, to access the dApp and interact with it, and they’ll never need to know about Sonic or token,” Andre Cronje revealed.
Risks and Challenges Ahead
Despite reaching impressive milestones, Sonic is not immune to risk. The price of its token, S, has declined significantly from its peak. According to BeInCrypto, it has dropped around 20% in the past month—from $0.60 down to $0.47—mirroring the broader market’s volatility.
Furthermore, Grayscale recently removed Sonic from its April asset consideration list. This decision reflects a shift in the fund’s expectations and raises concerns about Sonic’s ability to maintain its TVL should investor sentiment deteriorate.
Sonic also faces fierce competition from other high-performance chains like Solana and Base. Although Sonic holds a clear advantage in speed, long-term user adoption will depend on whether its ecosystem can deliver real value, not just high TVL figures.
Solana’s derivatives market has seen a strong increase in activity this week. According to recent data, open interest has climbed by 10.11% to reach $5.55 billion.
This jump signals that more traders are opening new Solana (SOL) positions, showing renewed attention from retail and institutional participants.
Solana Rising Open Interest and Trading Volume
According to Coinglass, Solana’s open interest increased alongside a 24.28% rise in trading volume, now at $12.6 billion. The increased market participation has surged open interest and turnover. This trend shows some traders are building up for a potential Solana price movement within a day/week timeframe.
SOL Derivatives Data (Source: Coinglass)
This development also reveals that expectations for increased volatility are on the rise. More money is flowing into Solana futures and perpetual contracts as market players either cover already-held positions on the asset or bet on a change in the price.
This data is obtained while Solana is circulating between $129 and $144, with analysts expecting a breakout.
Whale Activity Signals Long-Term Confidence
New data also reveal that whales are adding to their positions for SOL, thus providing more evidence of inflows. In addition, Lookonchain pointed out that Galaxy Digital also closed out 606,000 SOL, which is equivalent to approximately $79.7m in exchanges. Of this, 462,000 SOL worth approximately about $60 million has been staked.
This shift implies priorities to long-term holding and reduction of the circulating supply, factors that affect short-term price shifts. An increase in wallets with over 10,000 SOL has also been noted. This week, an analyst, Ali Charts, pointed out that the large holders had increased by 1.53% from 4,943 to 5,019.
“More large wallets entering the space could reflect growing confidence among major players,” he shared on X. This behaviour often aligns with a more SOL price bullish outlook as whales reduce sell pressure.
SOL Price Technical Patterns and Key Levels
According to crypto analyst Andrew Griffiths, the Solana price has constructed what appears to be a Cup and Handle pattern on the weekly chart in the past week. Upon verification, this pattern is widely regarded as a bullish signal. Per the chart, Solana price recently bottomed at $123.55 and shows signs of steady recovery, with the analysts setting initial targets at $139.80, $141.33, and $143.94.
SOL Price Chart
According to crypto analyst Ali Charts, the most important support for Solana price is $129, while resistance is $144. A breakout beyond $144 may open the way toward $150 and potentially $200, especially if the current trend continues.
However, a potential ‘death cross’ formation has emerged on the chart of SOL/BTC. This pattern marks a downtrend in the performance relative to Bitcoin. However, as the technical analyst Lordofalts indicated, a breakout from a parallel channel observed on the chart could offset these worries.
Solana ETF Expectations Soar To 74%
Launching spot Solana ETFs in Canada has also added momentum to the asset’s market presence. These ETFs, which include staking features, are listed on the Toronto Stock Exchange. Their appearance has led to a renewed interest in similar products in the United States.
Polymarket, a prediction platform, shows a 74% chance that a U.S.-based Solana ETF will be approved by the end of 2025. However, the probability of approval by July 2025 remains low, at 24%.
Several asset managers such as Fidelity, VanEck, Franklin Templeton, and Grayscale have proposed to issue Solana ETFs. Despite the lack of activity in this regard, the filings indicate an increasing acceptance of the digital asset from institutional investors which is a precursor to an upward trend.
Robinhood Gold
No network fees for transfers on the Solana network on the Robinhood app, up to 10 transfers a month.
