The REX-Osprey Solana staking ETF (SSK) surpassed $200 million in cumulative flows for the first time on Sept. 11, amid Solana’s (SOL) strong price action.

Trading under ticker SSK, the fund struggled with adoption during its initial months, recording zero activity on four of six trading days through Aug. 8, according to Farside Investors data.

The pattern reflected broader institutional hesitation toward Solana-focused investment products compared to Bitcoin and Ethereum alternatives.

Analysts attributed the slow start to structural complexity rather than demand deficiencies.

Additionally, the fund operates outside standard SEC-registered spot ETF frameworks, incorporating staking mechanisms and offshore ETF allocations that differentiate it from traditional cryptocurrency products.

At 0.75% annually, SSK’s management fee positions at the higher end of crypto ETF expense ratios compared to major Bitcoin and Ethereum funds charging 0.15% to 0.25%.

Shifting tides

However, institutional sentiment shifted in late August, following announcements about corporate Solana treasury strategies.

Galaxy Digital, Multicoin Capital, and Jump Crypto announced they were pursuing $1 billion to assemble a Solana treasury through a public company vehicle, with Cantor Fitzgerald serving as lead banker.

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The companies committed cash and stablecoins to Forward Industries, which closed a $1.65 billion private placement on Sept. 11.

In addition, SOL Strategies secured Nasdaq approval to begin trading on Sept. 9 as a Solana-first investment vehicle.

Institutional flows

Institutional flows reflected the momentum shift. Solana exchange-traded products (ETPs) registered $177 million in inflows during the week of Aug. 25-29, representing the largest altcoin flow excluding Ethereum.

The first week of the month saw Solana products dominate altcoin flows with $16.1 million, while Ethereum ETPs experienced $912.4 million in outflows. The institutional interest coincided with Solana’s growth in its DeFi ecosystem.

DefiLlama data shows that Solana crossed $13 billion in total value locked for the first time on Sept. 12.

This backdrop provided fundamental support for a price advance that lifted SOL by 20% in September. On Sept. 12, SOL grew 5.5% to reach a $241.84 high, its highest price level since Jan. 30.

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Per CryptoQuant’s second September weekly report, Ethereum’s latest uptrend from about $1,400 in April to a high near $5,000 has unfolded alongside heavier allocations in funds and whale accumulation, a pullback in exchange deposits, and activity peaks across transactions, addresses, and smart-contract calls.

Ethereum trades below a realized price band of $5,200 while fund holdings and on-chain use hit records.

The report frames the next phase around whether price can clear the realized price upper band that capped prior advances.

According to CryptoQuant, Ethereum fund holdings, driven largely by U.S. spot ETFs, have reached 6.7 million ETH, nearly double since April. Addresses holding 10,000 to 100,000 ETH added roughly 6 million ETH over the same period, with this cohort now at 20.6 million ETH, a new high.

The “smart money” share embedded in those balances means a material portion of demand is already in place, compressing the room for momentum to do the heavy lifting without fresh flows. The charts on page 2 of the report show both the fund-holding curve and cohort balances making new peaks.

Staking has climbed in parallel.

The total ETH staked stands at around 36.2 million, up by roughly 2.5 million ETH since May. The rising validator count reduces circulating supply and supports a tighter float, yet it also sequesters capital that would otherwise meet new demand if price drifts or volumes thin out.

That mix of lower float and higher commitment from validators helps explain why spot market pressure can ease even when price consolidates.

On-chain throughput has expanded. Total daily transactions peaked at about 1.7 million on August 16, and active addresses reached roughly 800,000 on August 5, both new highs, per the network dashboards. Smart-contract calls surpassed 12 million daily for the first time, marking the heaviest programmatic use of the base layer so far.

Elevated usage across DeFi, stablecoin transfers, and token activity builds fee revenue and reinforces the settlement-layer role that underpins ETH’s cash-flow and utility narratives. If activity cools, volatility often follows as price discovers the correct multiple on lower throughput.

Spot-side supply pressure has eased.

CryptoQuant’s exchange-inflow series shows deposits to centralized venues falling from roughly 1.8 million ETH in mid-August to about 750,000 ETH per day after the early-September price high.

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Fewer coins moving to exchanges typically line up with thinner realized selling, which aids stability during retests. Low inflows can also coincide with quieter order books, so prices can travel more on smaller trades if a catalyst lands.

The technical fulcrum is the realized price upper band near $5,200. CryptoQuant plots that level as the region that repelled advances in 2020–2021 and again in early 2024. ETH trades around $4,400 in the report window, so the market sits one step below a threshold with a track record of pausing uptrends.

Clearing that zone would shift trading into territory where realized holders, on average, sit deeper in profit, and where supply forces depend more on whether newer inflows outpace long-dated distribution.

The flow picture offers a simple checklist for the weeks ahead.

Fund holdings are already at a record, so incremental net creations matter more than absolute size. Whale cohorts hold over 20 million ETH, so net additions from this group carry outsized weight versus retail churn.

Staking is at 36 million ETH, so any acceleration or slowdown in validator deposits will change the liquid float at the margin. Exchange inflows are subdued compared with August, so watch whether that series stays compressed or reverts as price revisits prior highs. All four lines are visible across the report’s holdings, staking, network, and inflow charts.

For valuation context, CryptoQuant ties the April-to-September advance to a dual engine of institutional participation and on-chain throughput. That framing pairs the top-down demand capture of ETFs with bottom-up settlement use across DeFi and tokens.

It also leaves room for periods where activity outruns price or vice versa. In those phases, realized bands and exchange-flow gauges help separate consolidation from distribution, especially when positioning is already heavy among large holders.

The near-term setup, therefore, revolves around whether ETH holds its footing into a second attempt at the realized band, with funds, whales, staking, and activity providing most of the signal on whether the cycle keeps its pace or pauses.

According to the report, the realized price upper band near $5,200 remains the level in focus.

Crypto analyst Whale Guru has outlined his targets for altcoins on their next massive pump to the upside. He predicted that the Ethereum price would reach as high as $25,000 and expects the XRP price to reach triple digits. 

XRP Price To Reach $300 As Ethereum Rallies To $25,000

In an X post, Whale Guru predicted that the XRP price would reach $300 as Ethereum rallies to $25,000. He highlighted these price levels as his targets for the next pump to the upside. Meanwhile, the analyst also predicted that SOL would reach $2,000, DOGE would reach $5, SUI would reach $10, HYPE would reach $400, WLFI, and PENGU would both reach $10.

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However, Whale Guru didn’t provide any basis for these ambitious targets for Ethereum, XRP, and the other crypto assets he mentioned. Notably, a rally to $300 for the XRP price represents a 100x increase from its current price. This is one of the largest gains among all the cryptocurrencies, the analyst mentioned. 

There are several factors that members of the XRP community have alluded to, which could spark massive gains for the XRP price, although the $300 target remains far off. One of these factors includes the imminent launch of the XRP ETFs. Community member Finance Bull recently highlighted the ETFs as what could be the next institutional catalyst for XRP. 

The ETFs are expected to have a similar impact to the one the Bitcoin and Ethereum ETFs had on BTC and ETH, respectively. Notably, Canary Capital CEO Steven McClurg has predicted that the XRP ETFs could record up to $5 billion in inflows in their first month of trading, which is bullish for the XRP price. He also believes that the XRP ETFs could outperform the Ethereum ETFs. 

XRP Targets $4.50 As Momentum Builds

Crypto analyst CasiTrades has provided a more conservative target for the XRP price, stating that it is targeting $4.50 as the consolidation period ends and momentum builds. In an X post, she revealed that the altcoin has broken out of its months-long consolidation and that confirmation of the breakout is occurring with the test of the $3 level now in play. 

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CasiTrades stated that the next areas to watch are $3.08 and $3.27 when the XRP price clears $3. She indicated that the key is for major Fibonacci levels to turn into support, so a breakout to either of those prices will set up a clean backtest to the key Fib levels. These key levels are the .382 support at $3 and the .236 resistance at $3.25. She added that the Fibonacci extensions point toward the $4.50 zone as a breakout target. 

At the time of writing, the XRP price is trading at around $3, up almost 2% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Adobe Stock, chart from Tradingview.com

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Bitcoin ($BTC) still sits at the top of the crypto food chain with a market cap of over $2.2T, but its dominance comes with a catch. The network is slow, expensive, and limited in what it can actually do.

Ten-minute block times and gas fees that can spike to $100+ mean it’s great as ‘digital gold,’ but useless for the fast-paced world of DeFi, NFTs, and meme coin trading.

Meanwhile, Ethereum ($ETH) and Solana ($SOL), and even DOGE ($DOGE) have built thriving ecosystems on speed and accessibility – areas Bitcoin has lagged for years.

That’s where Bitcoin Hyper ($HYPER) steps in. With $14.4M already raised in its presale, this new Layer 2 claims to be the scalability upgrade Bitcoin has been waiting for.

The Problem: Bitcoin Is Powerful But Stuck in First Gear

Bitcoin is unmatched as a store of value, but that’s both its strength and its limitation.

For years, $BTC has been branded as ‘digital gold,’ something you hold, not something you use. And the numbers explain why. The network averages just 7 transactions per second (tps), compared to Solana’s recent peak of over 100K tps.

Each Bitcoin block takes around 10 minutes to confirm, making even simple payments feel ancient in a world where you can tap your phone for instant settlement.

When demand spikes, things get even worse. During the April 2024 launch of the Runes protocol, Bitcoin’s mempool was clogged for days, with transactions waiting hours or more to clear. Fees spiked as high as $127 during the minting frenzy, making normal transfers nearly impossible.

High transaction fees make sense if you’re moving $1M in treasury reserves, but it’s absurd if you’re trying to trade a meme coin or NFT.

And because Bitcoin isn’t programmable like $ETH or $SOL, it can’t host dApps, DeFi protocols, or meme ecosystems that fuel most of today’s crypto activity.

That’s why Bitcoin sits in a strange position. Institutions love it for balance sheets and ETFs, but for everyday retail use, it’s practically inert.

The Solution: Bitcoin Hyper as Bitcoin’s Execution Layer

Bitcoin Hyper ($HYPER) positions itself as the missing ‘execution layer’ for Bitcoin. Instead of trying to rebuild Bitcoin from scratch, it adds scalability through the Solana Virtual Machine (SVM) – the same engine that powers Solana’s 100K+ tps performance.

In practice, this means you can bridge $BTC into Hyper, where it’s minted one-to-one on the Layer 2. From there, transactions settle in sub-seconds with almost no fees.

Hyper then bundles everything together using zero-knowledge proofs and commits the state back to Bitcoin’s main chain, keeping security intact. And if you want to withdraw, you simply bridge out and reclaim your $BTC on Layer 1.

Builders also get a familiar toolkit: SVM compatibility means they can tap into Solana’s developer stack, but with Bitcoin’s liquidity behind it. If Bitcoin is the vault, $HYPER is the trading floor. It’s where the culture, the speculation, and the real usage can finally happen.

Want to dig deeper?

Check out our what is Bitcoin Hyper guide for the ecosystem, community sentiment, and more.

Why This Matters for Bitcoin’s Standing

With a ~$2.2T market cap and trading near $112K, Bitcoin is already the heavyweight of crypto. But size alone doesn’t equal activity. Right now, most of that value just sits idle.

$HYPER changes the equation by making Bitcoin liquid in ways we’ve only seen on ecosystems like $ETH and $SOL. Think of it like turning gold bars into Apple stock splits… suddenly usable, divisible, and accessible for everyday transactions.

If even 1% of Bitcoin’s vast market value flowed into Bitcoin Hyper’s DeFi layer, it would instantly rival the largest existing L2 ecosystems like Mantle ($MNT) and Polygon ($POL).

And culturally, the timing is perfect: meme coin mania and yield-hungry DeFi degens thrive on low fees and speed. If Bitcoin can deliver both, it starts pulling attention and liquidity back from rival chains. That shifts $BTC from being a passive asset into an active, usable layer of global finance.

The Financial Side: $14.4M Presale Momentum

On the numbers alone, Bitcoin Hyper ($HYPER) is off to a fast start. The presale has already pulled in more than $14.4M, with tokens priced at $0.012875.

Early buyers can stake for eye-catching yields of 104% while also securing priority access to governance votes, future airdrops, and launchpad allocations. That’s helped $HYPER stand out among the wave of best crypto presales this year.

Timing also plays a role: with VanEck maintaining its $180K target for 2025, appetite for Bitcoin-adjacent projects is high. Investor sentiment reflects that excitement with $HYPER shaping up as one of the year’s most watched plays.

Follow our how to buy Bitcoin Hyper guide for step-by-step instructions on joining the presale.

Final Thoughts – Bitcoin’s Next Chapter?

Bitcoin Hyper ($HYPER) is aiming straight at Bitcoin’s longest-running weakness: scalability. By merging $BTC’s unmatched brand power with Solana-style speed, it wants to flip Bitcoin from a passive store of value into a fully usable ecosystem.

The $14.4M presale shows there’s no shortage of appetite for that vision, though the usual questions of execution, adoption, and long-term sustainability remain.

If Bitcoin finally gains a true execution layer, $HYPER could be the spark that unlocks meme coins, DeFi, and everyday payments on $BTC rails.

But as always, presales and crypto carry risks. Please do your own research (DYOR) before committing capital. Only invest what you’re comfortable losing.

Authored by Aidan Weeks, Bitcoinist – https://bitcoinist.com/bitcoin-hyper-raises-14-4m-best-buy/

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

The amount of Ethereum waiting to enter staking has overtaken the volume queued for withdrawal for the first time since July, marking a key shift in network activity.

According to data from the Ethereum Validator Queue, the staking entry line reached 833,141 ETH (around $3.7 billion) on Sept. 4, surpassing the 819,757 ETH (roughly $3.6 billion) currently awaiting exit from staking pools.

Notably, this is the first time since July 22 that the entry requests have outpaced exits. Staking service provider Everstake also noted that the surge reflects the largest queues observed since 2023, when the Shanghai upgrade allowed staked ETH withdrawals.

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As a result, ETH stakers must wait approximately 15 days before they can stake their assets on the chain.

Despite this shift, the total supply of staked ETH is expected to remain largely steady at above 36 million ETH because the entry and exit volumes nearly balance each other out.

Hyperliquid is slowly building a name within the decentralized finance (DeFi) sector. In August, the platform recorded nearly $400 billion in perpetual trading volume and more than $106 million in revenue, according to DefiLlama.

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This milestone not only cements Hyperliquid’s dominance in the decentralized perpetuals market, where it now controls around 70% of market share, but also signals growing adoption by both retail and institutional investors.

A key driver of this success is its proprietary HyperEVM blockchain, designed for speed, scalability, and zero gas fees. These features replicate the performance of centralized exchanges while maintaining DeFi’s transparency and user custody, making Hyperliquid an appealing alternative to platforms like Binance or Solana-based DEXs.

Whale Activity and Market Sentiment

Despite its strong fundamentals, HYPE, the platform’s native token, is facing volatility. Currently trading around $44, HYPE has retraced from the $51 mark but remains on track for a possible breakout. Analysts point to resistance at $48.73, with upside targets at $52, $55, and even $73 if bullish momentum persists.

HYPE's price trends to the upside on the daily chart. Source: HYPEUSD on Tradingview

Whale activity has added intrigue to the token’s outlook. Recently, a whale deposited over $3 million USDC into Hyperliquid and opened a leveraged short against HYPE, sparking debate about near-term price action.

While shorts suggest caution, derivatives data shows rising open interest and a slight long bias, hinting at sustained optimism among traders.

Can Hyperliquid Become the Next “Killer App”?

BitMEX co-founder Arthur Hayes has gone as far as calling Hyperliquid a “decentralized Binance,” projecting the HYPE token could rise over 100x if adoption keeps pace. The launch of a 21Shares Hyperliquid ETP on the SIX Swiss Exchange also signals mounting institutional confidence.

Still, challenges remain. Hyperliquid has faced brief outages and accusations of whale manipulation in newly launched futures markets. To counter this, the team has implemented stricter safeguards, including tighter price caps and external data integrations. These moves aim to balance rapid growth with market integrity.

Related Reading

With trading volumes surging, institutional adoption growing, and technical indicators hinting at a potential HYPE breakout toward $55, Hyperliquid stands at a defining moment. If it maintains momentum while addressing risks, it could cement itself as crypto’s next true “killer app.”

Cover image from ChatGPT, HYPEUSD chart on Tradingview

Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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September 3, 2025

The Ethereum staking entry queue has surged to its highest level in nearly two years, reaching 860,369 ETH, worth approximately $3.7 billion, on Tuesday.

It marks the longest wait time since the Shanghai upgrade in 2023, which allowed for withdrawals and briefly triggered large-scale validator exits.

Institutional Influx Drives Renewed Confidence in Ethereum Staking: Everstake

According to staking protocol Everstake, the sudden rise reflects renewed confidence in Ethereum’s long-term potential and an influx of institutional capital.

“We haven’t seen queues of this size since 2023. It’s a strong signal that more people trust Ethereum and want to participate in securing it,” the firm noted.

The combination of rising Ether prices, currently hovering around $4,321, and relatively low gas fees has made staking more attractive to both retail users and corporate treasuries.

The increased staking activity also helps calm recent concerns about mass exits, which spiked when the staking exit queue briefly topped 1 million ETH on Aug. 29 before falling back by 20%.

Ethereum currently has 35.7 million ETH locked in staking contracts—around 31% of the total supply, according to Ultrasound.Money.

Notably, corporate treasury funds now hold 4.7 million ETH, worth over $20 billion, with the majority earmarked for staking.

StrategicEtherReserve data shows more than 70 treasury participants have already begun deploying long-term staking strategies.

The convergence of market conditions, price levels, and institutional involvement has pushed the staking entry and exit queues closer to balance for the first time since July.

That equilibrium suggests a healthier staking environment and growing demand for yield generation on Ethereum’s base layer.

While ETH has slipped 12.4% from its Aug. 24 all-time high, long-term holders appear to be undeterred. Instead of exiting, many are doubling down, waiting in line to earn yield on-chain.

Joseph Lubin Predicts 100x ETH Surge

Ethereum co-founder Joseph Lubin believes ETH could rally 100x or more over time, calling it Wall Street’s future infrastructure as TradFi shifts toward decentralized finance.

In an X post, Lubin said Ethereum will replace many siloed systems at institutions like JPMorgan and become the backbone for financial services, staking, and smart contract execution.

Backing the bullish stance of Fundstrat’s Tom Lee, Lubin stated he’s “100% aligned” with Lee’s view that Ethereum could flip Bitcoin in network value.

He compared the moment to 1971 when the U.S. dollar left the gold standard, signaling a tectonic shift in financial architecture led by Ethereum.

Lubin emphasized that ETH represents a new kind of virtual commodity — “decentralized trust” — that institutions will be forced to adopt.

He sees Ethereum’s decentralized rails powering everything from traditional finance operations to smart contract-based agreements, with massive upside as adoption scales globally.

Likewise, Lee has predicted that Ethereum will rally in the near term to $5,500, with an ambitious year-end target of $12,000.

During his August 26 guest appearance on the Amitis Investing program, Lee disclosed that institutional Wall Street sentiment toward Ethereum has shifted dramatically following the U.S. Senate’s passage of the GENIUS Stablecoin legislation.

Lee emphasized that Ethereum is the foundational blockchain infrastructure for traditional finance (TradFi), currently supporting over $145 billion in stablecoin supply.

A proposal to cut the cost of energy, a resource used to process transactions, is gaining support and is nearing the number of votes needed to pass.

The voting ends on August 29, and if just one more approval is secured, the plan will move forward.

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The change would lower the energy price from 210 sun to 100 sun. In Tron’s system, 1 TRX equals 1,000,000 sun, so that this change would cut the energy cost by more than half.

This means that many users, especially those sending numerous transactions, such as stablecoin transfers, would require less TRX to cover fees.

However, with energy priced at 210 sun, about 76 million TRX is burned or removed from circulation. If the new rate of 100 sun is adopted, that burn rate would fall, which might lead to more TRX being created than destroyed, unless transaction activity increases to make up the difference.

As of August 27, 17 of the 27 Super Representatives, the entities that validate blocks and vote on upgrades, had approved the proposal. These include participants like Chain Cloud, CryptoChain, Nansen, HTX.com, P2P.org, and Tron Alliance.

Ten more have yet to vote, and only one more “yes” is needed to meet the required 18 approvals.

Meanwhile, Solana recently experienced a short-lived surge in network activity, with transactions per second (TPS) reaching six figures. How? Read the full story.