Upbit has announced that it will suspend Synthetix (SNX) deposits starting from April 24 at 15:00 KST. This action comes after the sUSD stablecoin failed to maintain its peg to 1 USD, causing significant volatility in the SNX token. The Digital Asset eXchange Alliance (DAXA) has also flagged SNX as an “investment warning asset,” signaling potential risks for investors. The suspension aims to protect users amid these concerns.
In a bold prediction at Token2049, Eric Trump, the second son of US President Donald Trump and executive vice president of the Trump Organization, forecasted the potential emergence of a crypto era. According to Eric, cryptocurrencies are poised to disrupt the traditional financial system, especially the “broken” SWIFT payment system.
Crypto To Disrupt SWIFT, Says Eric Trump at Token2049
Speaking at Token2049, a global crypto conference series, Eric Trump shared insights on the potential growth of the crypto industry, replacing the traditional financial system. Citing its limitations like slow processing speed, high cost, and limited accessibility, Trump forecasted the demise of SWIFT (Society for Worldwide Interbank Financial Telecommunication).
Further, Eric highlighted the advantages of crypto over the SWIFT payment system. As per Eric’s statement, cryptocurrencies are “easy to move and accessible to anyone.” For him, cryptocurrencies have become a game-changer. Reinforcing his argument, Eric stated that the modern financial system is inadequate and “absolutely broken.”
Recently, Eric Trump issued a stark warning that global banks may collapse within a decade if they fail to integrate cryptocurrency. Criticizing existing payment systems like SWIFT, he posited, “SWIFT is an absolute disaster.”
As inflation rises and economic uncertainty deepens, Switzerland is facing fresh pressure to rethink its Bitcoin reserve strategy. A group of crypto advocates has launched a referendum, urging the Swiss National Bank (SNB) to add Bitcoin alongside gold to its reserves as a safeguard against global instability.
Swiss National Bank Rejects Bitcoin Reserve Push
Despite mounting calls, the SNB remains firm. In a recent meeting, SNB Chairman Martin Schlegel dismissed the idea, calling Bitcoin too volatile for Switzerland’s official reserves. Schlegel emphasized the need for assets that are highly liquid and stable in value—qualities Bitcoin, in his view, does not consistently deliver.
He also raised concerns over Bitcoin’s reliability, highlighting that, being a software-based asset, it could face technical glitches. Schlegel underlined that the SNB has no intention of incorporating crypto into its reserve strategy at this time.
Global Trends Highlight Growing Interest in Crypto Reserves
While Switzerland maintains a cautious stance on crypto regulation, other countries are beginning to explore different paths. The United States, for instance, has started building a Bitcoin reserve using coins seized from criminal investigations, a move that is sparking discussions worldwide.
Even so, many governments remain hesitant, citing extreme price volatility and operational risks. For now, Switzerland appears committed to its traditional financial framework, resisting global trends that are slowly shifting toward Bitcoin and digital assets.
The growing debate over Switzerland’s crypto regulation and Bitcoin reserve strategy suggests that pressure on the SNB may not ease anytime soon.
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As inflation rises and economic uncertainty deepens, Switzerland is facing fresh pressure to rethink its Bitcoin reserve strategy. A group of crypto advocates has launched a referendum, urging the Swiss National Bank (SNB) to add Bitcoin alongside gold to its reserves as a safeguard against global instability. Swiss National Bank Rejects Bitcoin Reserve Push Despite …
Pumpfun has deposited 105,233 SOL tokens to Kraken, valued at approximately $15.86 million, in a fresh on-chain move. This move comes amid a Solana price recovery above the $150 resistance and increasing odds of a SOL ETF approval at a 90% probability, according to Bloomberg analyst Eric Balchunas.
Pumpfun Deposits 105,233 SOL to Kraken
According to Lookonchain, Pumpfun has moved 105,233 SOL tokens to Kraken in its latest transaction. This follows a series of consistent deposits made by the project over time. In total, Pumpfun has now deposited 3,202,498 SOL—worth around $591 million—on the Kraken exchange at an average price of $185.
In addition to these deposits, Pumpfun also sold 264,373 SOL for approximately $41.64 million in USDC at a price of $158 per token. At the same time, Lookonchain reported that three new wallets withdrew 145,000 SOL tokens—valued at around $21.8 million—from Kraken.
These wallets were recently created and performed these transactions within the past hour, suggesting potentially coordinated actions or accumulation.
SOL Price Technical Trend Supports Bullish Continuation
Solana’s daily chart shows a bullish price structure supported by the breakout from a falling wedge pattern. This pattern developed from early January to late March 2025 and typically signals a trend reversal. The price broke above the wedge’s resistance in early April, followed by a sustained rally from under $100 to more than $150.
The current price action is forming a bull flag structure, which often appears before another upward move. Analysts observe higher lows and higher highs on the chart, a clear uptrend pattern. Volume has remained steady, with spot volume between $4 billion and $6 billion daily, according to data from DeFiLlama.
SOL/USD Price Chart (Source: TradingView)
On the 1-day price chart, the Relative Strength Index (RSI) and Money Flow Index (MFI) both point upward. The RSI stands at 61.59, suggesting further room for growth before reaching overbought conditions while the MFI is at 58.06, which indicates more capital is entering than leaving.
Resistance Levels Ahead for Solana Price
Crypto analyst Gerlaenco noted that Solana has bounced over 50% since its recent low. He mentioned, “$SOL $200 end of May,” referring to a possible price target if current momentum continues. According to his analysis, the next resistance zone lies between $170 and $185.
This area served as a previous rejection zone during the correction phase earlier in 2025 from Solana’s all-time high of $294.44. If price action breaks through this range and turns it into support, then a path toward $200–$220 could open.
Solana’s recent price momentum has been mostly boosted by the SOL ETF optimism. Bloomberg’s Eric Balchunas recently raised the likelihood of a spot SOL ETF approval to 90%, placing Solana among the top contenders. This news has fueled fresh investor interest, both in the spot and derivatives markets.
Concurrently, data from DeFiLlama shows that perpetual futures volume for Solana has stayed elevated across March and April. Even during periods of price correction, this volume remained consistent, indicating continued interest and active participation from traders.
