SOL Strategies CEO Leah Wald outlined how Solana-focused digital asset treasury companies can drive institutional adoption and exchange-traded fund (ETF) flows.

In an interview with CryptoSlate, Wald noted that multiple Solana treasury companies create a “rising tide” effect similar to Bitcoin miners benefiting alongside Bitcoin ETF inflows.

She noted the parallel between Bitcoin ecosystem dynamics, where miners receive inflows alongside spot and futures ETFs, suggesting similar potential for Solana-focused companies.

Wald explained:

“You’ve always seen that in the past where miners get inflows, like Bitcoin miners. ETF gets inflows alongside Bitcoin spot and Bitcoin futures ETFs get inflows.”

She described the phenomenon as retail investors choosing different products based on enthusiasm, while institutions prefer ETFs for tax advantages and custody structures.

Wald acknowledged widespread market expectations for a spot or staked spot Solana ETF under a 33 Act wrapper, viewing this development as part of a broader rising tide of product offerings.

She emphasized that treasury companies must operate respectfully to maintain industry credibility while benefiting from expanding product availability.

Bloomberg ETF analysts expect an approval in October, when most of the spot Solana ETF filings will meet their final deadline with the SEC.

DAT dynamics

Addressing concerns about digital asset treasury (DAT) company valuations, Wald acknowledged that many firms that added Bitcoin now trade at discounts to multiple of Bitcoin NAV (mNAV), including Bitcoin miners.

A Sept. 2 report by Grayscale highlighted a decreasing mNAV for DAT companies, suggesting a cooling of interest from investors.

However, she expressed confidence that SOL Strategies’ dual approach as both a technology company and treasury accumulator provides competitive advantages during market downturns.

Wald stated:

“It does not scare us. I think it positions us in a position of strength because we’re the only ones running a real business and it’s a business that continues to accumulate and compound.”

She noted that discount trading environments place pressure on management teams to execute validator business models effectively rather than relying solely on asset appreciation.

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SOL Strategies differentiates itself by calling the company “DAT plus plus,” emphasizing technology development alongside treasury accumulation.

Wald described the firm as a technology company first, with treasury accumulation as a secondary function, contrasting with purely speculative treasury models.

SOL Strategies added SOL to its treasury and started trading on Nasdaq on Sept. 9 under the ticker STKE.

Infrastructure validation

Despite being the second-largest decentralized ecosystem, with over $12 billion in total value locked, Solana still represents a small fraction of the tokenization landscape.

Institutions deployed nearly $500 million using Solana’s infrastructure, representing 3.1% of this market. In comparison, Ethereum has a 52% dominance over tokenization efforts.

Wald sees institutional treasury companies as catalysts for closing this gap through education and validation efforts.

She explained:

“I do think that any ETF, like any well-respected issuer or well-respected company, anyone that puts boots on the ground on education is only going to help Solana, the network, grow and succeed.”

She emphasized validation and adoption benefits from proper educational initiatives about Solana’s technical advantages.

Wald stressed the significant institutional interest, including BlackRock’s plans to launch a yield fund on Solana alongside existing tokenized products from Apollo and Franklin Templeton.

She listed these developments as evidence of growing institutional recognition of Solana’s capabilities for tokenization and digital asset infrastructure.

Wald concluded by positioning treasury companies as educational ambassadors for Solana’s institutional adoption journey:

“It’s on all of us out there to educate why we think that it’s better, cheaper, faster, quicker, all those different merits to get there. Hopefully, with all the DAT leaders out there providing education, it should snowball.”

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Ethereum (ETH) staking levels continue to break records, with the latest snapshot of the blockchain showing nearly 36.1 million ETH staked on the network – the highest level in history.

Ethereum Staking Hits New ATH, Will Price Follow?

According to a CryptoQuant Quicktake post by contributor XWIN Research Japan, close to one-third of Ethereum’s circulating supply is now staked. This high proportion suggests that ETH may be on the verge of a structural supply shock.

Related Reading

The following chart shared by the analyst shows that even during sharp corrections in 2022 and 2023, staking levels continued to climb. Unlike speculative flows, which often exit the market during downturns, staking activity has proven “sticky” – with investors choosing to lock ETH into the network rather than liquidate.

Staking ETH carries several key implications. First, it compresses supply – as more ETH is staked, less liquid supply remains on exchanges, creating a natural “supply shock” that amplifies demand-driven price moves.

Similarly, it shows the priorities of investors. By staking ETH, investors essentially work as long-term participants. In this way, they align their incentives with network security and yield instead of short-term trading.

ETH’s recent rally to $4,500 also coincided with record staking levels, creating a feedback loop – higher prices attracted institutional inflows from custodians, exchange-traded funds (ETG), and whales, while reduced liquid supply added further upward pressure.

ETH’s Transition Into An Institutional Asset

ETH ETFs now hold more than $300 billion in reserves, while asset managers such as BlackRock are actively accumulating. This underscores Ethereum’s transition from a speculative asset to a yield-bearing, institutionally supported infrastructure layer.

Related Reading

U.S.-based spot ETH ETFs also enjoyed a long streak of positive inflows, lasting from the week ending May 16 through the week ending August 15. Commenting on this shift, XWIN Research Japan noted:

Ethereum’s all-time-high staking levels reveal its underlying strength: while Bitcoin faces selling dominance in taker metrics, ETH is experiencing structural supply reduction. This divergence highlights Ethereum’s growing role not just as a crypto asset, but as the backbone of tokenization, DeFi, and RWA adoption.

Similar sentiments were recently echoed by Tom Lee, the co-founder of Fundstrat Global Advisors. Lee noted that ETH is getting closer to becoming the backbone of global markets.

That said, some risks remain. For instance, ETH price is still lagging despite ATH in daily network transactions. At the time, the analyst said that ETH was likely still in the accumulation phase.

Similarly, the recent price pullback in ETH after creating a new ATH over $4,900 shows how recurring liquidation cycles are shaping ETH’s price action every week. At press time, ETH trades at $4,606, up 2.5% in the past 24 hours.

Featured image from Unsplash, charts from CryptoQuant and TradingView.com

XRP is making headlines again as the network has recorded a dramatic surge, surpassing its $1 billion daily transfer volume for the first time in more than a month. The spikes come to a’s heel Powerful price rallyThere are signs that large owners, also known as whales, may play a key role in driving. Next leg of cryptocurrency.

XRP transactions reach major highs

The XRP network shows new strength and growth Transaction volume is rapidly increasing It exceeds $1.07 billion. This spike follows a massive 67% rally in digital asset prices. Climbed over $3.5 Earlier this month after a long period of consolidation. This impressive price surge is one of the most aggressive upward moves in recent months.

Related readings

The revival of both network activity and price signals Growing market momentum And perhaps the change in emotions between investors and traders. Particularly, XRPSCAN, platforms that record data from XRP ledgers; It was revealed A large amount of transfers was recorded on July 18th, representing the largest daily figure for cryptocurrency in more than a month.

What is particularly noteworthy about this recent volume surge is that it doesn’t seem to drive a speculative termination alone. Increase in funds between the account and the Increased user address We propose a deeper level of network usage.

XRPSCAN data shows that XRP Payment Volume On July 18th, one account rose to 1.72 billion people from one account. Furthermore, the number of successful transactions executed during the same period totaled over 2.08 million. New Active Account Also, July 18 recorded its highest daily count of 10,279 last month, rising significantly.

With blockchain metrics flashing green and XRP prices regaining bullish momentum, the surge in daily transfers shows a fresh wave of satiety confidence among holders. Typically, such synchronized growth can point to the intentional accumulation or distribution of whales moving large sums during pivotal market shifts.

Whales will be longer with XRP ahead of potential surges

A new report from analysts shows that XRP Whale Activities It’s back in earnest just a few days after cryptocurrency networks surged beyond the $1 billion transfer volume, as certain holders have been running for a long time. Several long positions have been opened in a price range of nearly $3.44, totaling over $3.8 million, raising speculation that investors may be acting in insider-level trust.

X Social Media analyst KingXRP recently revealed that there are whales input $1.52 million in XRP, the buzz grows around the imminent Realfi integration, XRP ledger Unlock a massive $650 trillion market.

Related Reading: XRP Open Interest hits a fresh ATH of over $10 billion, but will the price continue?

Radar, who adds fuel to the hype, is another market expert, It has been reported Two additional whale-sized positions worth $102 million and $1.31 million have been opened within the same price range. This movement shows a clear change in whale emotions, suggesting an increase in confidence Possibility of XRP breakout.

Getty Images Featured Images, Charts on tradingView.com

Happy all-time high day, y’all! Bitcoin hit $114K for the first time ever!

*Confetti, champagne popping, people cheering, fireworks, “All I Do Is Win” playing, an elephant trumpeting*

*… wait what*

*uhh, anyways*

Why’s it pumping?

CryptoQuant analyst Burak Kesmeci says it’s because of US buyers.

He thinks so because when BTC hit $112K, the Coinbase Premium Gap jumped to 42 points.

“ Wtf does that mean?” – glad you asked:

The Coinbase Premium Gap is the price difference between Bitcoin on Coinbase and on Binance.

And at that moment, people on Coinbase were paying $42 more per Bitcoin than on Binance.

Now:

Coinbase is one of the most popular exchanges in the US;

Binance, on the other hand, is more global.

So when prices on Coinbase climb faster than on Binance – and the gap gets bigger – it’s a sign that US demand is growing.

Which matters because strong US demand usually keeps the rally going.

And that’s not all.

10xResearch pointed out that for weeks, Bitcoin was mostly moving sideways.

During that time, a lot of retail investors stayed out of the market because it didn’t look exciting.

But at the same time, big investors were quietly buying through ETFs – about $15B worth. That steady buying didn’t make the price jump yet, but it built up strong demand.

Now, that demand is finally showing – Bitcoin started climbing to new highs.

And the traders who sat out earlier are now rushing to buy in, which could push the price even higher.

Oh, and don’t sleep on Ethereum.

According to Swissblock, investors are actively pumping money into ETH, and there’s growing interest in Ethereum-related projects.

Plus, it started outperforming Bitcoin:

ETH is up by over 14% so far this month;

While BTC is only up by around 5%.

And if this trend holds over the next few days – like Swissblock expects – it could be a sign of the start of altseason

Fundstrat’s Tom Lee says the S&P 500 has room to run.

In a new interview with CNBC, Lee predicts the leading stock index could surge to 6,800 in the next few months, fueled by rate cuts from the U.S. Federal Reserve.

“People always find quibbles with new highs, but we also know that for an institutional asset manager, it is not really excusable to be bearish when the market makes a new all-time high. So in other words, the institutions now have to start adding risk if we’re making all-time highs, because it’s a new bull market.” 

Lee says the FOMO (fear of missing out) trade is a component of the current market environment.

“It’s merely a reorientation of perception, because the market’s only at 5% year-to-date, but we could be up 10%, so only half of the full-year gains have been realized, so if someone had fresh eyes on the market and knows the Fed’s being dovish and tariff risks are abating and multiples could expand, I think people could find many stocks to buy.” 

The S&P 500 set a new all-time high last week and is trading at 6,263.26 at time of writing. The index is up more than 0.6% in the past day and more than 1% in the past 5 days.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Analytics platform Glassnode says one Bitcoin investor cohort is suddenly selling the most BTC for realized gains.

According to the analytics platform, those holding onto Bitcoin between six and 12 months are abruptly locking in massive gains at a rate exceeding all other cohorts, raking in a $904 million profit on Monday.

“Last week, we highlighted how BTC wallets that held greater than 12 months were the primary profit-takers.

But that trend has now flipped. [On Monday]: less than 12 months cohorts accounted for 83% of all realized profit. Six to 12-month holders alone realized $904 million – the second-highest daily profit year to date.”

Glassnode says the same six-to-12-month investor cohort netted more profits two months ago.

“Mid-cycle buyers (six-12 months) stepped up on June 16th with $904 million in realized gains. That’s just behind the April top in terms of daily profits – and shows that Q4’24 buyers are now distributing heavily.”

However, the analytics firm says that the selling of Bitcoin for profits is slowing way down for long-term BTC holders.

“Meanwhile, greater than 12-month holders realized just $324 million, a notable drop from the relentless profit realization in May or even the last week’s peak of around $1.2 billion.

Bottomline: seasoned BTC holders are stepping back for now – and newer coins are now driving market sell pressure.”

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Investment firms with Bitcoin-focused treasuries are front-running global Bitcoin adoption, which may see the world’s first cryptocurrency soar to a $200 trillion market capitalization in the coming decade.

Institutions and governments worldwide are starting to recognize the unique monetary properties of Bitcoin (BTC), according to Adam Back, co-founder and CEO of Blockstream and the inventor of Hashcash.

“$MSTR and other treasury companies are an arbitrage of the dislocation between the bitcoin future and todays fiat world,” Back wrote in an April 26 X post.

“A sustainable and scalable $100-$200 trillion trade front-running hyperbitcoinization. scalable enough for most big listed companies to move to btc treasury,” he added.

Hyperbitcoinization refers to the theoretical future where Bitcoin soars to become the largest global currency, replacing fiat money due to its inflationary economics and growing distrust in the legacy financial system.

Related: Crypto sentiment recovers, but weekend liquidity risks remain

Bitcoin’s price outpacing fiat money inflation remains the main driver of global hyperbitcoinization, Back said, adding:

“Some people think treasury strategy is a temporary glitch. i’m saying no it’s a logical and sustainable arbitrage. but not for ever, the driver is bitcoin price going up over 4 year periods faster than interest and inflation.”

Back’s comments come nearly two months after US President Donald Trump signed an executive order to establish a national Bitcoin reserve from BTC forfeited in government criminal cases.

Related: Serbia’s Prince Filip says Bitcoin is being stifled, expects huge rally

Global firms continue Bitcoin accumulation

Continued Bitcoin investments from the likes of Strategy, the largest corporate Bitcoin holder, may inspire more global firms to follow suit.

Strategy’s approach is proving to be lucrative, with the firm’s Bitcoin treasury generating over $5.1 billion worth of profit since the beginning of 2025, according to Strategy’s co-founder, Michael Saylor.

Japanese investment firm Metaplanet, also known as “Asia’s MicroStrategy,”  adopted a similar strategy, since surpassing 5,000 BTC in total holdings on April 24, Cointelegraph reported.

As Asia’s largest corporate Bitcoin holder, Metaplanet plans to acquire 21,000 BTC by 2026.

US financial institutions may also have more confidence in adopting Bitcoin after the US Federal Reserve withdrew its 2022 guidance discouraging banks from engaging with cryptocurrency. “Banks are now free to begin supporting Bitcoin,” Saylor said in response to the guidance withdrawal.

“Banks will now be supervised through normal processes, signaling a more open regulatory environment for digital asset integration,” Nexo dispatch analyst Iliya Kalchev told Cointelegraph.

Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

What you need to know

• Assistant Driving Mode in Google Maps is officially gone for good, the company has confirmed.
• Assistant Driving Mode is another feature casualty of the Gemini transition, which is currently underway.
• The feature lost most of its functionality in February 2024, and only a media control bar and voice assistant button remained up until recently.

Google is officially removing Assistant Driving Mode from Android as part of the Gemini transition. The feature has undergone numerous changes since its introduction in 2019, most recently losing the app dashboard that was a crucial part of the Driving Mode experience. Now, it’s no longer available as part of the Google Maps app for Android, the company told 9to5Google.

As of February 2024, the app launcher that featured large, easy-to-touch icons while driving was removed. The most recent version of Assistant Driving Mode only offered a media playback bar and the a control button. It was mostly used by Android users that didn’t have a car with Android Auto functionality, since Driving Mode offered similar utility at one point.

In fact, Assistant Driving Mode was initially seen as a replacement and alternative to Android Auto for Phone Screens, was killed in 2021.

The Assistant Driving Mode app launcher was one of many Google Assistant feature removals announced in January 2024. “Using app launcher in Google Assistant driving mode on Google Maps to read and send messages, make calls, and control media,” the company explained in a support document at the time. “You can still use voice control on Google Maps the same way.”

Over a year later, not even the Assistant Driving Mode’s playback controls or voice control button are available as part of Google Maps. This is an intentional removal that is part of the Gemini transition, per the company. At this point, it means Assistant Driving Mode in Maps is gone for good.

The move is part of a larger transition from Google Assistant to Gemini that was announced officially in March 2025. It’s currently underway, and will see most mobile devices ditch Assistant in favor of Gemini in the near future.

Virtuals Protocol, which was previously launched on the Base blockchain, has now expanded to Solana to empower Virtuals Nation builders and further drive agentic innovation across multiple ecosystems.

The platform, which allows users to create, trade, and manage digital AI agents, is now leveraging Solana’s fast and cost-efficient network to scale its offerings.

Whilst previous projects on Solana, many of which have relied on platforms like Pump.fun—typically associated with memecoins—Virtuals Protocol introduces a more advanced use case for the blockchain, bringing AI technology into the ecosystem.

What is Virtuals Protocol?

Virtuals Protocol is a platform that enables the creation and management of AI-powered agents, referred to as Virtuals. The protocol combines the capabilities of artificial intelligence with the decentralisation of blockchain, allowing users to build, trade, and interact with AI agents in a secure and transparent manner.

Virtuals Protocol aims to empower users by providing the tools needed to create their own AI agents, whether for personal or business use. By bridging the gap between AI and blockchain, the protocol is fostering a new era of digital assets and decentralised applications.

Virtuals offers a versatile toolset for developing agents, making it an essential platform for anyone looking to explore the potential of AI within the context of blockchain.

What this means to the Solana ecosystem?

The expansion of Virtuals Protocol to Solana represents a shift in the types of projects making their way to the network.

Whilst many projects on Solana have often focused on novelty tokens or memecoins, Virtuals brings a more practical and long-term utility to the network. Solana’s fast transaction speeds and low costs create an ideal environment for the protocol to scale, making it easier for users to trade, create, and manage AI agents on a larger scale.

With Virtuals now available on Solana, the network is set to see increased adoption of decentralised AI applications, attracting new developers, creators, and users interested in the intersection of blockchain and artificial intelligence.