Tether has scrapped plans to end USDT on Omni, Bitcoin Cash SLP, Kusama, EOS and Algorand, allowing it to continue in a limited capacity.

Elon Musk’s lawyer Alex Spiro is set to chair a planned $200 million Dogecoin treasury company backed by House of Doge, as memecoin treasury vehicles begin to emerge.

XRP’s slow push into institutional finance just picked up another backer.

Data-focused blockchain firm Flare announced on Friday that Everything Blockchain Inc. (OTC: EBZT), a U.S.-listed company, has signed a memorandum of understanding to adopt its XRP finance (XRPFi) framework for corporate treasury yield.

The move comes months after Nasdaq-listed VivoPower International PLC (NASDAQ: VVPR) committed $100 million in XRP to Flare’s ecosystem, making EBZT only the second public company to do so.

The agreements mark early steps in Flare’s effort to turn XRP — historically a non-yielding asset — into a productive instrument for institutions.

At the center of the framework is Flare’s “FAssets” system, a trustless bridge that gives smart contract functionality to tokens like XRP and bitcoin. Combined with Firelight, Flare’s restaking layer, the setup lets companies convert XRP into FXRP and allocate it across decentralized lending, staking and liquidity protocols.

“XRP, now a roughly $150 billion asset, has been a cornerstone of digital finance for more than a decade, yet institutions have had few ways to make it productive,” said Hugo Philion, Flare’s co-founder and CEO.

“Flare changes that by enabling a compliant, on-chain, non-custodial yield framework designed for corporate treasuries. With VivoPower and now Everything Blockchain, public companies are validating that XRPFi is not just a concept but an emerging institutional standard,” he added.

EBZT framed its decision as part of a broader shift in how public companies treat blockchain assets.

“This is about unlocking the true financial utility of digital assets like XRP, not just as speculative holdings, but as yield-bearing instruments that can compound over time,” said Arthur Rozenberg, the company’s CEO. “Flare gives us the rails to do this in a way that meets the governance, security, and auditability standards required of public companies.”

For now, the XRPFi push remains small in dollar terms relative to bitcoin or ether-based treasury pilots.

But two listed companies publicly adopting the model in under a year gives XRP a new narrative: less about speculation, more about yield, and potentially a step toward more mainstream corporate balance sheets.

Stellar’s native token XLM came under heavy institutional selling pressure in the latest trading session, falling from $0.39 to $0.36 between August 28 at 3:00 p.m. and August 29 at 2:00 p.m. ET. Market data shows more than 41.89 million XLM changed hands, with volumes surging as large holders reduced exposure.

Despite the pressure, Stellar’s enterprise push remains intact. The Stellar Development Foundation reported the network is approaching 10 million registered accounts, boosted by daily growth of 5,000–6,000 new corporate wallets. Strategic partnerships with MoneyGram International and Circle Internet Financial continue to drive adoption of Stellar’s payment rails in cross-border finance.

Analysts highlighted sharp intraday swings on August 29, when XLM dropped 1.38% between 1:26 p.m. and 2:06 p.m., before institutional buyers reentered the market. The token recovered 1.27% during the 15-minute window that followed, closing the session at $0.361 after briefly touching $0.357.

A spokesperson close to Stellar’s corporate strategy stressed that the market turbulence was sentiment-driven rather than a reflection of business fundamentals. The late-session bounce suggested some large buyers viewed the decline as a buying opportunity, underscoring confidence in Stellar’s long-term role in blockchain-based financial infrastructure.

Technical Market Indicators Signal Mixed Corporate Sentiment

• XLM posted a 7.74% decline from $0.39 to $0.36 during the August 28-29 trading period.
• Daily trading range reached $0.031 between session high of $0.387 and low of $0.356.
• Peak selling activity occurred during morning European trading hours on August 29 with volume exceeding the 24-hour average of 41.89 million units.
• Technical resistance established near $0.373 level as institutional buyers remained cautious.
• Support levels identified at $0.375 and $0.362, with the lower threshold showing stability during final trading hours.
• Elevated trading volume during the decline indicates potential institutional accumulation strategies.
• Intraday price range of $0.005 during the final 60-minute trading period demonstrates continued market interest.
• Support at $0.357 attracted institutional buying interest before session close.
• Final hour recovery of 1.27% on volume exceeding 2 million units suggests corporate treasury departments may be accumulating positions.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

El Salvador's move highlights growing concerns over quantum computing's potential to disrupt cryptographic security in financial systems.

The post El Salvador relocates Bitcoin reserve into multiple wallets to reduce exposure to quantum attacks appeared first on Crypto Briefing.

Grayscale filed S-1s for Polkadot and Cardano ETFs, expanding its altcoin lineup after earlier 19b-4 filings with Nasdaq and NYSE Arca.

The post Grayscale files for Polkadot and Cardano ETFs following earlier 19b-4 moves appeared first on Crypto Briefing.

On-chain data shows exchanges are still the main venue of Bitcoin trading, with Binance alone observing volume double that of the spot ETFs.

US Bitcoin Spot ETFs Still Account For Just 13% Of Trading Volume

In a new post on X, on-chain analytics firm CryptoQuant has talked about how the US spot exchange-traded funds (ETFs) compare to exchanges when it comes to Bitcoin trading volume.

Spot ETFs are investment vehicles that allow investors to gain exposure to BTC without having to own it. The ETFs trade on traditional platforms, so investors who aren’t familiar with the digital asset space can easily invest into the coin through them.

The spot ETFs are relatively new to the sector, having received approval from the US SEC at the start of last year. Before the ETFs, investors had to use cryptocurrency exchanges to buy BTC. Unlike with the ETFs, exchanges normally deposit actual tokens to a buyer’s wallet that they can then choose to withdraw into self-custody.

For many traditional investors, though, navigating cryptocurrency wallets and exchanges can feel daunting. ETFs provide a simpler, off-chain route into Bitcoin, making them a direct competitor to exchanges.

Since their inauguration, spot ETFs have quickly gained popularity, but one question arises: how do they stack up against the old exchanges? Below is a chart shared by CryptoQuant that puts into perspective the Bitcoin trading volume of the US spot ETFs compared to the major exchanges.

As displayed in the above graph, the Bitcoin spot ETFs have usually witnessed daily trading volume between $5 billion to $10 billion during the last few months. This is a notable value, but pales in comparison to what cryptocurrency exchanges witness.

Binance, the largest platform in the sector, alone observes up to $18 billion in volume on peak days. In terms of percentage of trading volume occupied since Donald Trump became US President, Binance leads the market with a share of 34.69%.

In contrast, the US spot ETFs only hold a Bitcoin volume dominance of 4.53%. Crypto.com (20.11%), Bybit (6.45%), and MEXC (4.62%) are all ahead of them. Based on the data, the analytics firm concludes, “exchanges remain the primary venue for trading.”

A similar picture appears when looking at the spot ETFs for Ethereum, which launched in the US in mid-2024.

From the above chart, it’s visible that Binance has made up for 29.07% of the total Ethereum trading volume, far ahead of the 13.08% figure of the US spot ETFs. That said, the gap here is closer than for Bitcoin.

BTC Price

Bitcoin has seen a plunge of around 3% over the past 24 hours that has taken its price to $108,500.

At the Bitcoin Asia conference in Hong Kong, Eric Trump, the son of President Donald Trump, predicted that the market’s leading cryptocurrency, Bitcoin (BTC) could soar to $1 million within the next few years, which could represent a major 825% increase from current levels. 

Eric Trump Bullish On Bitcoin

As reported by Reuters earlier on Friday, during a panel discussion, Eric Trump emphasized China’s significant influence in the cryptocurrency sector, referring to the country as “a hell of a power” in driving crypto innovation.

Nevertheless, China still seems far from the US’s role in adopting cryptocurrencies, as the Asian country continues to face significant restrictions on operating digital assets. 

Despite these restrictions by regulators since 2021, Mainland China is reportedly exploring yuan-backed stablecoins to enhance its global usage. Meanwhile, Hong Kong has taken steps to establish itself as a digital asset hub, passing a stablecoin bill in May.

On the other hand, under President Trump’s leadership, the United States has proposed establishing a Bitcoin reserve and passing three key crypto bills, including the GENIUS Act, which could accelerate the use of dollar-pegged cryptocurrencies in everyday transactions.

This has significantly contributed to the broader market’s price surge with Bitcoin reaching a new record of $124,000 on August 14, and Ethereum (ETH) also reaching an all-time high (ATH) just below the $5,000 mark last weekend. 

Despite the cryptocurrency’s recent dip toward $108,000, Eric Trump confidently stated, “There’s no question Bitcoin hits $1 million,” citing strong institutional demand and the cryptocurrency’s limited supply as key factors supporting his optimism.

Crypto Talks Between Trump And Xi Jinping?

When asked if President Donald Trump and Chinese President Xi Jinping might soon discuss cryptocurrencies, Eric Trump suggested that both nations likely possess a deeper understanding of digital currencies than most other countries. 

He highlighted the support the Bitcoin community has shown for his father, expressing hope that such backing would yield significant returns for both the community and the Trump family.

In recent months, the Trump family has ventured into various cryptocurrency initiatives, including the launch of a decentralized finance (DeFi) platform, a stablecoin, a Bitcoin mining operation, and the applications of crypto-focused exchange-traded funds (ETFs). 

Notably, American Bitcoin, a new crypto miner founded in collaboration with Hut 8 and backed by Eric Trump and his brother, Donald Trump Jr., is preparing for a Nasdaq listing next month.

Reuters also reported that during the same conference, crypto exchange Binance founder and former CEO Changpeng Zhao (CZ) remarked that the US is setting a precedent for progressive regulations that could prompt other governments to take similar actions. 

Featured image from DALL-E, chart from TradingView.com 

Bitfinex-backed Plasma announced a strategic partnership with EtherFi on Aug. 29, positioning the stablecoin-focused neobank as a day-one launch partner for the blockchain’s mainnet beta.

EtherFi will transfer over $500 million from its Ethereum (ETH) staking vault to Plasma’s platform, providing liquidity for stablecoin-backed yield strategies.

The collaboration integrates EtherFi across Plasma’s DeFi ecosystem, providing users with additional collateral options for lending and borrowing while offering access to ETH-backed yield products.

Plasma’s announcement emphasized how the partnership complements both platforms’ objectives in the stablecoin infrastructure space. The protocol stated:

“Stablecoins give everyone, everywhere permissionless access to the financial service of saving money safely and reliably.”

EtherFi is the sixth-largest DeFi protocol, with a total value locked of over $11 billion as of Aug. 29. The protocol reached an all-time high of nearly $12.6 billion on Aug. 14.

Stablecoin-focused infrastructure

Plasma operates as a Bitcoin sidechain with full Ethereum Virtual Machine (EVM) compatibility, engineered specifically for stablecoin payments and cross-border transactions.

The platform offers zero-fee USDT transfers through a dual-validator architecture that processes gasless transactions.

Recent market activity demonstrates significant institutional interest in Plasma’s approach. The platform raised $1 billion in deposits within 30 minutes during its June expansion, with 70% of funds concentrated among the top 100 wallets according to analytics firm Sealaunch.

Initial deposits in June totaled $500 million, with over 1,100 participating wallets.

Further, Plasma is backed by high-profile names. The protocol $24 million funding round attracted backing from Framework Ventures, Bitfinex, Peter Thiel’s Founders Fund, and Tether CEO Paolo Ardoino.

DeFi ecosystem integration

The EtherFi partnership extends beyond simple vault migration. Plasma users will be able to leverage EtherFi’s liquid staking tokens as collateral while accessing stablecoin features, including custom gas tokens and confidential transactions.

Additionally, the partnership positions both platforms to capture the growing demand for stablecoin infrastructure as the sector surpasses a total supply of $280 billion.

Former BitMEX CEO Arthur Hayes recently noted that EtherFi is one of three DeFi protocols that could capture significant value from the expansion of US dollar-pegged stablecoins.

EtherFi’s commitment to move $500 million in ETH staking assets represents confidence in Plasma’s technical architecture and market positioning within the expanding stablecoin ecosystem.

The post Bitfinex-backed Plasma secures EtherFi partnership with $500 million ETH vault integration appeared first on CryptoSlate.

Tether abandoned plans to freeze its dollar-pegged USDT tokens on several older blockchains and is choosing instead to classify them as “unsupported,” according to an Aug. 29 statement.

The change applies to networks such as Bitcoin Cash, Kusama, EOS, and Algorand, among others. Users will still be able to move tokens across wallets, but Tether will no longer issue or redeem USDT on those platforms.

The shift came after weeks of community pushback over the company’s original plan, which would have locked tokens in place and left them non-transferable.

‘Unsupported’ classification

In June, Tether had outlined a transition that would begin Sept. 1, 2025, with all USDT on the affected blockchains frozen and excluded from redemptions.

The move was framed as a way to streamline operations by cutting off support for networks that accounted for a negligible share of the stablecoin’s activity. Under that plan, tokens would have remained visible on-chain but effectively stranded without any movement or redemption path.

Following sustained criticism from developers and users on smaller ecosystems like EOS and Algorand, Tether retreated from a hard freeze. The firm said the revised approach “aligns with its broader strategy” while avoiding reputational damage.

The compromise allows Tether to wind down low-volume chains without provoking backlash from users who would have been locked out of their assets.

Pivot toward Bitcoin

The announcement came just one day after Tether disclosed plans to issue a native USDT on Bitcoin using the RGB protocol.

Unlike wrapped tokens that rely on custodial bridges, RGB integrates directly with Bitcoin’s scripting and client-side validation, making USDT part of the Bitcoin ecosystem’s security model.

USDT remains most heavily concentrated on Ethereum and Tron, each with more than $80 billion in circulation, alongside smaller footprints on Solana and a few other networks.

The decision to drop support for legacy chains signals tightening resources on platforms with higher adoption while staking new ground on Bitcoin.

The post Tether abandons plan to freeze USDT on legacy crypto networks, classifies them ‘unsupported’ appeared first on CryptoSlate.

An Indian court has sentenced a former legislative assembly member of the Bharatiya Janata Party (BJP) to life in prison for his involvement in a high-profile bitcoin extortion plot. 

Nalin Kotadiya and thirteen other individuals were convicted for the 2018 kidnapping of a Surat businessman and extorting 200 bitcoins from him.

Life Sentences in 2018 Extortion Case

A local court in Ahmedabad delivered today’s verdict, concluding the high-profile case that dates back to 2018. 

Fourteen people, including former BJP legislative assembly member Nalin Kotadiya and ex-Indian Police Service officer Jagdish Patel, were found guilty and sentenced to life in prison. One individual was acquitted.

This landmark ruling concludes an extensive trial that exposed a corruption trail involving high-profile individuals in Gujarat.

A Crime Unraveled

The case began with the kidnapping of Shailesh Bhatt, a businessman and cryptocurrency trader from Surat.

According to reports, individuals pretending to be from India’s Central Bureau of Investigation (CBI) lured him to a meeting in Gandhinagar. 

Instead, he was abducted from a gas station. A team of police officers using official government vehicles then took Bhatt to a farmhouse.

The accused seized 200 Bitcoins, valued at approximately ₹12 crore at the time, and demanded a ransom of ₹32 crore. 

The investigation further revealed that Bhatt had previously stolen Bitcoins worth ₹150 crore from another Surat resident named Dhawal Mawani. Upon learning this, the accused—including Nalin Kotadiya—conspired to rob Bhatt.

Unmasking the Conspirators

Bhatt set off the investigation when he submitted a formal complaint to the Indian Criminal Investigation Department (CID). 

As the investigation deepened, the CID arrested ten police officers, including Anant Patel and Surat-based lawyer Ketan Patel.

Their interrogations soon revealed the names of Jagdish Patel and Kotadiya. Kotadiya went into hiding, and a non-bailable warrant was issued before his eventual arrest. 

The scope of the conspiracy widened further with the involvement of a genuine CBI Inspector, Sunil Nair. Nair reportedly demanded a bribe from Bhatt and threatened to initiate an investigation against him.

The court’s decision ultimately marked a major step against corruption and criminal activity involving police officials, politicians, and cryptocurrency.

The post Former Indian Politician Convicted in Bitcoin Extortion Case appeared first on BeInCrypto.

The real-world asset (RWA) sector has cooled, with RWA tokens down 3.7% over the past month, underperforming narratives like liquid staking and GameFi. Still, the long-term growth story remains intact.

Yet, despite the correction, a handful of RWA altcoins to watch in September are flashing strong fundamentals and price setups.

Chainlink (LINK)

Chainlink remains the most recognized RWA altcoin, and the recent announcement of a US Department of Commerce partnership to bring government macroeconomic data on-chain only reinforces its credibility.

On-chain data shows whales and top addresses positioned early. Whale balances rose 29.52% in August, bringing holdings to 5.03 million LINK. That means whales added roughly 1.15 million LINK, worth nearly $27 million at today’s price of $23.47.

The top 100 addresses now hold 646.8 million LINK, up 0.47%, with an addition of approximately 3 million LINK, equivalent to around $70 million. Exchange balances dropped by 4.19%, a bullish outflow trend that reduces sell pressure.

For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Despite a slow week, LINK remains in an uptrend, posting gains worth over 30% month-on-month. While bears pressed it down by 5.9% this week, bulls have largely maintained control. Every time the bears have tried to take control of the LINK price action, bulls have intervened, as shown by the Bull-Bear Power (BBP) indicator.

The Bull Bear Power (BBP) indicator measures whether buyers (bulls) or sellers (bears) are driving momentum.

A clean breakout above $25.80 would open a move toward $27.62, and beyond that, Fibonacci extension targets suggest a path as high as $43.04.

Failure to hold $22.86, however, could invite deeper pullbacks, but current whale and exchange flows argue for continued resilience. With whales stacking, LINK ETF talks surfacing, and a government-linked partnership validating fundamentals, Chainlink is a leading RWA coin to watch in September.

Ondo (ONDO)

Ondo is one of the fastest-growing names in the RWA token space. It bridges real-world assets like US Treasuries and corporate bonds into tokenized form for on-chain investors.

Whales have been quietly adding through late August. The 100 million to 1 billion ONDO cohort grew holdings from 981.38 million ONDO on August 24 to 989.53 million ONDO at press time. That is an accumulation of 8.15 million ONDO, worth about $7.4 million at current prices of roughly $0.91.

Technically, ONDO is showing a bullish divergence. Since August 19, the price has made lower lows, but the RSI has printed higher lows. This divergence hints at waning bearish pressure and a potential reversal. ONDO is up 13.2% over the past three months, showing the broader trend is still intact despite short-term weakness.

The Relative Strength Index (RSI) tracks the speed of price moves to show whether an asset is overbought or oversold. Higher values mean stronger buying, while lower values indicate heavier selling.

Immediate resistance sits near $0.93. A breakout above $0.9786 would validate the bullish divergence and open targets at $1.14.

Maple Finance (SYRUP)

Maple Finance is a credit marketplace focused on institutional lending, and its native Syrup (SYRUP) token has been gaining steady traction as one of the RWA coins to watch.

Performance has been notable. Over the past three months, Syrup has gained 39.9%. In the last month, it is up 4.2%, while seven-day gains stand at 14%. The consistency of these numbers reflects that Syrup has not disappointed despite market volatility.

On-chain data supports this strength. Top 100 addresses increased holdings by 16.79%, adding about 160 million SYRUP, worth approximately $72 million at the current price of $0.45.

Exchange balances dropped by 23.51%, or around 69 million tokens (about $31 million), reflecting a supply squeeze. Whales did trim positions by nearly 59%, but this impact has been outweighed by accumulation from larger cohorts and steady outflows from exchanges.

SYRUP price action also remains constructive. A sustained hold above $0.42 keeps bulls in control. A breakout above $0.53 could fuel momentum toward $0.62–$0.77 in September. With bulls being in control, courtesy of the green Bull-Bear Power indicator candles, a move on the upside looks likely.

However, if Syrup falls below $0.38, the bullish setup would be invalidated, and sellers would take over. Given its steady accumulation and resilience during volatile weeks, Maple Finance and its Syrup token have earned their spot as one of the top RWA altcoins to watch in September.

The post Top 3 Real World Asset (RWA) Altcoins to Watch in September appeared first on BeInCrypto.

After a short-lived recovery, Bitcoin (BTC) is attempting to bounce from a crucial level to reclaim the $110,000 support. However, some analysts suggest that a retest of the $90,000 level could be the next stop for the cryptocurrency.

Bitcoin Drops To Weekly Lows

Bitcoin lost the $110,000 support for the first time in nearly two months, dipping below the lower boundary of its local range, between $108,700-$119,500. The flagship crypto hit an eight-week low of $107,900 on Friday afternoon, raising concerns for its short-term rally among investors.

Crypto analyst Ali Martinez suggested that the market is starting to show signs of fatigue, with Bitcoin Dominance displaying cracks after carrying “the bulk of the bull market momentum.”

To the analyst, BTC’s current price action signals a macro trend shift, mirroring the 2021 price action and the conditions that preceded the 2021 cycle peak. At the time, the cryptocurrency hit a peak of $60,000 in April, retraced, rallied to $70,000, and set a strong bearish divergence against the Relative Strength Index (RSI) before the bear market began.

This time, Bitcoin is showing the same setup that foreshadowed the end of the last cycle, with price making higher highs while the RSI makes lower lows, Martinez explained.

Among other technical signals, the analyst highlighted that the MACD indicator had turned bearish this week. He detailed that this bearish crossover aligns with the price drop and reinforces the downside risks.

Meanwhile, he added that the recent death cross in the Bitcoin MVRV Momentum indicator “signals a macro momentum reversal from positive to negative. This is a historically reliable warning sign of cyclical tops.”

The analyst affirmed that the on-chain evidence suggests Bitcoin’s top may be in, at least temporarily, with bias shifting bearish and a risk of retesting lower support levels.

Will BTC Mirror Its 2021 Drop?

Martinez also noted that the $108,700 support is crucial for BTC’s short-term performance, as a weekly close below this area would confirm a deeper trend shift, which occurred in 2021.

After peaking in late 2021, the flagship crypto lost its local range above the $58,000 mark, which led to a retest of the macro range’s mid-zone and an eventual drop below the macro range’s lows in the coming months.

If BTC loses its immediate technical floor, the price could retest the $104,500 and $97,000 support levels, risking a drop to the mid-zone of the macro range, around the $94,000 area.

Altcoin Sherpa weighed in on the cryptocurrency’s performance, stating that Bitcoin should have strong support between the $103,000-$108,000 levels, as the 200-day Exponential Moving Average (EMA) sits around the $104,000 mark.

However, analyst Ted Pillows considers that $124,000 appears to be the local top. He explained that, historically, Bitcoin’s bottoms occur after a retest of the weekly 60 EMA, which currently sits around the $92,000 support zone and has a CME gap.

“In this scenario, Bitcoin will start a reversal after 3-4 weeks and a new ATH by November/December,” Ted concluded.

As of this writing, Bitcoin trades at $107,947, a 7.5% decline in the weekly timeframe.

Solana is currently breaking above an Ascending Triangle that could set a target of around $300, according to a cryptocurrency analyst.

Solana Is Breaking Out Of An Ascending Triangle

In a new post on X, analyst Ali Martinez has discussed about a triangle technical analysis (TA) pattern forming in the 12-hour price of Solana. The pattern in question is an “Ascending Triangle,” which appears whenever an asset’s price consolidates between two converging trendlines.

The special feature of the formation is that the upper trendline is parallel to the time-axis, while the lower one is sloped upward. This means that as the price travels between the lines, it observes its range shrink to an upside.

As with any consolidation pattern, the upper line of the Ascending Triangle is likely to present resistance to the price, while the lower one support. A break out of either of these levels can signal a continuation in that direction: a surge above the triangle is a bullish sign and a fall under it a bearish one.

Like the Ascending Triangle, there is also the Descending Triangle, which is quite similar except for the fact that its lower line is parallel to the time-axis instead. Generally, the probability of a breakout is considered more likely to occur beyond the resistance line in an Ascending Triangle, while in a Descending Triangle, a breakdown of support is more probable.

Now, here is the chart shared by the analyst that shows the Ascending Triangle that has appeared in Solana’s 12-hour price:

As is visible in the above graph, Solana has been trading inside the pattern for many months now and recently, it has been trying to break out of it. This attempt at a surge above the resistance line comes as SOL has been approaching the apex of the triangle.

Usually, a breakout becomes more likely to occur as the price nears the end of the pattern. This is because the consolidation range gets quite narrow around the apex. The same effect may be in play for the cryptocurrency right now.

In the event that the latest attempt does lead to a sustained bullish push, Solana may be looking at the $300 level, according to Martinez. This level is around where the 1.618 Fibonacci Extension level lies.

Fibonacci Extension lines are drawn on a price chart based on ratios from the Fibonacci series. The 1.618 ratio in particular corresponds to the famous Golden Ratio.

If Solana does end up witnessing a rally to this target of $300, then its price would have gone up by around 46% from the current value.

SOL Price

At the time of writing, Solana is floating around $205, up more than 5% over the last seven days.