
April 18th, 2025
While it is expected that the selling pressure will continue to ease as FTX is done selling its shares, large outflows from GBTC could result in further price declines in Bitcoin.
Drift Points serve as a tangible way to quantify and acknowledge the valuable contributions and loyalty of participants within the ecosystem.
According to Josh Poole, Co-founder and CEO of Arcade2Earn, the decision to shift to Ethereum and Avalanche was due to the realization that certain technical requirements were better suited for these platforms, despite the majority of the application being already built on Solana.
While short-term sentiment remains negative, most experts do not see this decline as doom just yet. A recovery in Bitcoin price is expected to increase investors’ confidence in altcoins too.
Bitcoin has fallen below $40k despite the SEC’s approval of spot ETFs, with the Grayscale ETF losing more than $2 billion since then.
The heightened volatility has triggered the liquidation of almost $30 million worth of leveraged Bitcoin positions.
Bitcoin price has suffered short-term bearish sentiments since the approval and listing of spot BTC ETFs in the United States, thus paving the way for the much-anticipated altcoin season.
It remains unclear whether the app will cover any tokens that are not Solana-based.
While it is too early to speculate on the long-term success of the device, it is worth noting that it has seen more demand than the Saga.
Solana, like many tokens, saw a price dip in the aftermath of the FTX collapse and the crypto winter but seems to be on the road to recovery.
The partnership is expected to reduce the risk of loss linked to liquidations when trader’s positions are undercollateralized.
The correlation between WIF’s rally and Solana’s positive movement suggests a potential symbiotic relationship, where the success of one influences the other.
While Franklin Templeton expressed enthusiasm for Solana, Ethereum, and Bitcoin, the firm indicated that it is actively monitoring other layer-1 blockchains with massive potential.
While the success of Saga created a speculative frenzy, Solana Mobile faces challenges such as supply constraints and the volatile nature of the crypto market.
Solana Mobile plans to significantly reduce the price to make the smartphone more competitive and affordable compared to Saga.