In this week&#8217;s edition of the weekly recap, Sam Bankman-Fried appeared to 
implement a documented media playbook from prison, former SafeMoon CEO Braden 
Karony received a 100-month sentence, and Strategy introduced perpetual 
preferred shares to fund Bitcoin purchases. Bankman-Fried executes…

Bankman-Fried follows 2023 media strategy from prison, SafeMoon CEO gets 100-month sentence, Strategy expands Bitcoin holdings | Weekly recap

Mirae Asset Consulting agreed to acquire a 92.06% controlling stake in South 
Korean crypto exchange Korbit for about $93 million in cash.

Mirae Asset agrees to buy 92% stake in Korean exchange Korbit for $93M

The rumors of discussions on Russia’s return to the dollar system sparked 
speculation about the strength of the financial alternatives deployed to 
bypass sanctions. While the central bank denies being involved in such talks, 
the Kremlin clarified that Russia never left the dollar: it was excluded. 
Russia Denies Taking Part in Discussions About Using the […]

Russia’s Return to the Dollar: A Non-Existing Dilemma

The ECB updates the Eurosystem repo facility for central banks (EUREP) to 
provide standing access against euro collateral, extending reach and 
flexibility. This lets foreign central banks more easily obtain euro funding 
during stress, part of Europe’s push to boost the euro’s global role and 
counter U.S. and Chinese influence. The Governing Council of the […]

ECB Enhances Repo Facility to Broaden Global Euro Liquidity

Solana (SOL) has been significantly affected by the bear market, reporting a 
price loss of 37.38% in the last 30 days alone. Despite the late price relief 
seen last week, the altcoin remains about 70% off its all-time high, 
reflecting the dominant selling activity of recent months. Notably, funding 
rates data suggest traders are yet to see an imminent end to this turmoil, as 
open interest positioning reflects strong conviction toward further downside. 
Related Reading: Solana Reclaims $80 Amid Friday Market Bounce – Analysts Set 
Next Targets Solana Bearish Funding Stretch Sets New Low In 2.5 Years Funding 
rates are periodic payments exchanged between traders in perpetual futures 
markets to keep the futures price aligned with the spot price of an asset. 
Funding rates show which side of the market is more crowded, buyers (longs) or 
sellers (shorts), and thus a good sentiment indicator. Negative funding rates 
suggest that short traders are dominant, with a higher percentage of market 
participants presently betting on a price fall. According to market analyst 
Ted Pillows, the Solana market has recorded a negative funding rate for 17 
consecutive days, indicating that traders have been aggressively positioned on 
SOL for over two weeks. The market analyst explains that the bearish sentiment 
around Solana hasn&#8217;t touched these extremes in over 2.5 years. Therefore, this 
development is indicative of a sustained directional conviction and not 
regular market noise. However, there are two likely scenarios to develop from 
this concerning situation. Firstly, Solana may continue to bleed downward as 
spot buying pressure remains weak, combined with the sustained decline in 
macro risk appetite. On the other hand, the market might also experience a 
short squeeze marked by rapid upward price movement. This can be due to an 
exhaustion of selling pressure, after an overwhelming market majority opens 
short positions. In conclusion, while Solana traders and investors remain 
strongly bearish, there is still potential for reverse price moves to catch 
these overcrowded trades off guard. Related Reading: Bitcoin On-Chain Data 
Indicates High Volatility Ahead Following Post-CPI Reaction Solana Price 
Outlook At the time of writing, Solana trades at $88.01, reflecting a 3.81% 
gain in the last day. Meanwhile, the daily trading volume is down by 24.9% and 
valued at $2.89 billion. According to a renowned market analyst, Ali Martinez, 
data from the UTXO Realized Price Distribution (URPD) metric highlights key 
Solana price levels. While $85.55 was previously identified as a resistance 
zone, Solana’s move toward the $88 level suggests this region may now be 
flipping into a support area, reinforcing its importance as a short-term 
demand zone. Featured image from Nairametrics, chart from Tradingview

Cryptocurrency price in ILS