SUI Price Eyes Breakout As 21Shares Files For Sui ETF

Monicah W

SUI Price Eyes Breakout As 21Shares Files For Sui ETF

The SUI price is showing signs of a breakout as cryptocurrency ETP provider 21Shares made a major announcement regarding a SUI ETF. The company’s latest filing with the Securities and Exchange Commission (SEC) for an SUI exchange-traded fund in the United States has pushed the coin’s price high today.

21Shares files for SUI ETF amid US expansion

According to the company’s announcement, this filing is “a first step in expanding exchange-traded access to SUI.” The news comes alongside a newly formed partnership between 21Shares and the Sui blockchain network. Institutional interest is driving the expansion of the Layer-1 protocol’s global reach.

21Shares has formed a partnership with the Sui blockchain network while simultaneously filing for a SUI ETF with the SEC. The Switzerland-based company, headquartered in Zurich, is expanding its focus to the U.S. market after building an extensive suite of digital asset services across Europe.

“Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry, and we’re seeing that thesis play out,” said Duncan Moir, President of 21Shares. The company stated that its decision to pursue Sui products is based on both conviction in the technology and growing investor demand.

The partnership will include product collaborations, research reports, and other initiatives designed to increase accessibility to the Sui ecosystem. Kevin Boon, President at Mysten Labs, the original contributor to Sui, stated that “Sui was designed to become the global coordination layer for digital assets.”

SUI price eyes breakout at key resistance level

The SUI price has shown strong price performance amid the ETF filing news, with an 11% surge in the last 24 hours. This recent jump adds to its 56% gain over the past 30 days and approximately 230% increase over the last year.

Technical analysis from crypto analyst Ted suggests SUI is approaching a critical price point. He mentioned that SUI is approaching a key resistance level. Ted said that the $3.8-$4 zone was rejected last time, and it is now attempting another breakout.

If SUI successfully breaks above the $4 mark, Ted suggests it “could soon hit a new ATH.” The price chart shows an upward trendline that has been supporting the price since late April. CoinGape has also released its price prediction for SUI, which shows a 49% bullish prediction.

The post SUI Price Eyes Breakout As 21Shares Files For Sui ETF appeared first on CoinGape.

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Who Built the Second Satoshi Nakamoto Statue? Here Are the Details

Who Built the Second Satoshi Nakamoto Statue? Details here

Satoshi Nakamoto is arguably the most immortalized personality in the digital currency ecosystem. This is understandable considering the contribution the pseudonymous developer made to the world of crypto, creating Bitcoin. After more than 15 years since Nakamoto mined the first Bitcoin block, his popularity has only grown more with a new statue raised in his honor.

The Satoshi Nakamoto Statues: What to Know

While almost everyone in the industry is familiar with Bitcoin, not everyone knows Satoshi Nakamoto. The anonymous developer invented a technology that is now worth $1.69 trillion. To recognize this rare feat, a second statue has been erected within one year to immortalize him. 

The latest statue erected is located at El Zonte in El Salvador. This location is popularly called the Bitcoin Beach and has wide acclaim from members and proponents of the top coin. The unveiling of this statue comes at a time when El Salvador signed an agreement to strengthen crypto regulation in the country.

While the main creator of the El Zonte statue is unknown, the structure is symbolic and reflective, designed by Valentina Picozzi. The hooded developer showcases the underlying message that we are all Satoshi. The first of these statues was located in Lugano, Switzerland, and the duplicity is a sign that more people beyond the industry can familiarize themselves with Satoshi Nakamoto.

The Bitcoin Gesture: Industry Leaders Weigh In

Since the second statue in El Zonte became public knowledge, it has not helped reshape the market outlook for BTC. Although Bitcoin’s price neared $86,000 earlier today, the Trump tariff woes form a bigger concern to watch.

However, the Satoshi Nakamoto statue gives a sense of belonging, one Tether CEO, Paolo Ardoino, echoed recently. In a post on X, Ardoino said, “We’re Satoshi, especially in El Salvador.”

Meanwhile, the Picozzi-inspired Nakamoto statues were inspired by the first of their kind, the structure erected in Budapest, Hungary. This status sits at the heart of Europe at the Graphisoft Park and grants 24-hour access to the golden statue.

Who is Satoshi Nakamoto?

Beyond the effort to continually immortalize the Bitcoin creator, there has also been a good attempt to uncover the face behind the image. In the fourth quarter of last year, film production giant HBO sparked a broad-based interest in the community on plans to reveal who Satoshi Nakamoto was.

After weeks of speculation on Polymarket, with names like Len Sassaman and Adam Back topping the chart of likely candidates, HBO picked Peter Todd. Despite his computing background, Todd denied the claims, which placed the industry back in the search for Nakamoto. The three statues might be the closest anyone will get to the infamous BTC creator.

The post Who Built the Second Satoshi Nakamoto Statue? Here Are the Details appeared first on CoinGape.

BlackRock Leads as Bitcoin ETFs Inflow Streak Hits Day 5 | ETF News

Spot Bitcoin ETFs extended their inflow streak by another day on Thursday, marking the fifth consecutive day of net positive flows. The total inflow for the day stood above $440 million.

The continued inflows come amid a modest market rebound over the past 24 hours. 

Bitcoin ETF Inflows Hit $2.68 Billion for the Week 

Bitcoin ETFs recorded another day of net inflows on Thursday, extending their streak to five consecutive days. The latest addition of $442 million brought the week’s total to $2.68 billion, the highest weekly net inflow since the first week of December 2024.

Total Bitcoin Spot ETF Net Inflow
Total Bitcoin Spot ETF Net Inflow. Source: SosoValue

On Thursday, BlackRock’s ETF IBIT recorded the largest daily net inflow of $327.32 million, bringing its total cumulative net inflows to $40.96 billion. 

Ark Invest and 21Shares’ ETF ARKB followed in second place with a net inflow of $97.02 million, pushing its total historical net inflows to $3.09 billion.

BTC Futures Show Uptick in Demand

The crypto market has witnessed a modest rebound over the past 24 hours, pushing BTC’s price up by 1% over the past day. During the same period, open interest in BTC futures has also risen, signaling a slight uptick in investor demand.

At press time, this is at $65.31 billion, up 1% today. The gradual rise in BTC’s price and open interest signals growing market participation and increasing confidence in the ongoing trend.

BTC Futures Open Interest.
BTC Futures Open Interest. Source: Coinglass

This simultaneous uptick suggests that new positions are being opened to support the price movement, often interpreted as a bullish indicator.

Moreover, call volumes have outpaced puts in the options market, reflecting a tilt toward bullish sentiment. As of this writing, the coin’s put-to-call ratio is at 0.74. 

BTC Options Open Interest.
BTC Options Open Interest. Source: Deribit

When an asset’s put-to-call ratio is below 1, more call options are being purchased than puts, reflecting a bullish sentiment among options traders. This suggests that investors are positioning for a sustained upside in BTC’s price.

However, despite these positive indicators, BTC’s funding rate remains negative. At press time, the metric is at -0.0008%. 

BTC Funding Rate.
BTC Funding Rate. Source: Coinglass

The funding rate is a periodic payment between long and short positions in perpetual futures contracts. It keeps the contract price in line with the spot market. When the funding rate is negative, it indicates bearish sentiment, as more traders are betting on a price decline.

This suggests that some futures traders are still betting on BTC’s short-term downside, even as ETF demand and market metrics show renewed strength.

The post BlackRock Leads as Bitcoin ETFs Inflow Streak Hits Day 5 | ETF News appeared first on BeInCrypto.

Mega Bullish: SOL Strategies Announces $500M to Buy More Solana

Why Are Institutional Investors Betting Big on Solana? Insights Behind the $5.7M Investment

The post Mega Bullish: SOL Strategies Announces $500M to Buy More Solana appeared first on Coinpedia Fintech News

  • SOL Strategies agreed with ATW Partners to issue a convertible note of up to $500M.
  • The capital will exclusively be used for purchasing Solana coins, and staked to offer regular yields.
  • Solana price will heavily benefit from the deal, especially after the recent bullish breakout.

SOL Strategies Inc. (CSE: HODL), an investment company focused on the development and growth of the Solana (SOL) ecosystem, has announced the largest deal geared towards acquiring more SOL coins. On Wednesday, April 23, during the mid-North American trading session, SOL Strategies announced that it had inked an agreement with ATW Partners to issue a convertible note of up to $500M.

According to the announcement, SOL Strategies will issue the notes in an aggregate amount of $20 million as its first initial closing. The first tranche of the deal will close by May 1, 2025.

The agreement will offer an additional capacity of up to $480 million. The acquired SOLs will be staked and the yield generated shared among the investors.

“This is the largest financing facility of its kind in the Solana ecosystem and the first ever directly tied to staking yield. By securing up to half a billion dollars in strategic capital, we are doubling down on our conviction in Solana and our commitment to being the leading institutional staking platform. Every dollar deployed is immediately yield-generating, and accretive to both our balance sheet and our validator business. This structure is not only innovative, it is highly scalable,” Leah Wald, Chief Executive Officer of SOL Strategies, noted.

Impact on Solana Price

The convertible notes will play a crucial role in the long-term growth prospects for the Solana network. Furthermore, its success will attract more institutional investors, and bolster SOL’s bullish sentiment ahead.

From a technical analysis standpoint, SOL price has successfully rebounded following the 42 percent rally in the past two weeks. In the daily timeframe, the SOL price has been forming a megaphone structure, with the next target above $300.

Moreover, the daily MACD and Relative Strength Index (RSI) indicators have already flashed bullish sentiment.

The post Mega Bullish: SOL Strategies Announces $500M to Buy More Solana appeared first on Coinpedia Fintech News
SOL Strategies agreed with ATW Partners to issue a convertible note of up to $500M. The capital will exclusively be used for purchasing Solana coins, and staked to offer regular yields. Solana price will heavily benefit from the deal, especially after the recent bullish breakout. SOL Strategies Inc. (CSE: HODL), an investment company focused on …