Arizona lawmakers have voted to revive a bill that would expand the state’s forfeiture laws to include digital assets and establish a new Bitcoin reserve fund. Following a June 19 motion in the Senate, House Bill 2324 is headed back…

Arizona reconsiders Bitcoin reserve plan using forfeited digital assets

Three public companies have increased their Solana holdings this week, as 
BitGo speculates firms are buying Solana to stake it and earn rewards.

Solana treasury race heats up as firms hunt staking rewards

Verb Technology is set to rebrand as TON Strategy Co. after securing $558 
million in an oversubscribed PIPE offering to establish the first publicly 
listed toncoin treasury. The move aligns with TON’s deep integration into 
Telegram’s ecosystem and positions Verb as a leading institutional holder of 
TON. TON Strategy Company Set to Debut As Verb […]

Verb Technology Raises $558 Million to Launch First TON Treasury Company

Hyperliquid’s superior derivatives platform drove 35% of blockchain revenue in 
July, capturing high-value users from struggling Solana.

Hyperliquid revenue surges as it leeches users from Solana: VanEck

The United States Securities and Exchange Commission has finalized a 
settlement with the founder of MyConstant, ordering him to pay over $10 
million in penalties and restitution for misusing investor funds and making 
false claims about his platform’s crypto lending…

$10m SEC settlement hits MyConstant founder over TerraUSD investment and misuse of funds

As Solana (SOL) attempts to reclaim a crucial level, a market watcher 
forecasted a massive rally for this quarter. However, some analysts suggested 
that the cryptocurrency will retest the range lows soon. Related Reading: Is 
Bitcoin’s Price Discovery Rally Over? This Week’s Performance May Hold The 
Answer Solana Nears Crucial Level On Tuesday, Solana surged 9.6% from the 
recent lows, driven by the start of Solana Mobile’s global shipments of the 
Seeker, its second-generation Web3 smartphone, to over 50 countries. The news 
propelled the altcoin to a multi-day high of $171, fueling bullish sentiment 
among investors before its price retraced to the mid-zone of its local range. 
Notably, SOL has been hovering between the $140-$180 range since the April-May 
breakout, attempting to reclaim the local high for the past three months. 
During the June correction, SOL momentarily lost its local range lows, 
retesting the $120-$130 zone as support. However, the cryptocurrency reclaimed 
its range amid the July rally, briefly breaking out of the upper boundary and 
hitting a five-month high of $206 two weeks ago. Since then, Solana has seen a 
25% correction from the highs to the mid-zone of its local price range, 
currently trading between the $160-$164 levels. Amid its recent performance, 
analyst Ali Martinez highlighted SOL’s most crucial levels, based on the UTXO 
Realized Price Distribution (URPD) indicator. According to the chart, the key 
support area for the altcoin is around the $165 mark, where the largest supply 
cluster is with 44.4 million SOL, or 7.42% of the supply. As a result, Solana 
must reclaim the $165 level soon, or it will risk turning this key level into 
a key resistance, leading to further downside. Nonetheless, if this level is 
reclaimed, then the altcoin would have to retest the crucial resistance levels 
around $177 and $189, where investors have also accumulated 27.6 million and 
23.6 million SOL, respectively. SOL Preparing For The ‘Real’ Run? Analyst 
Crypto Jelle highlighted Solana’s recent price action, asserting that SOL is 
“quietly trending higher” with higher lows and turning resistance levels as 
support. The market watcher forecasted that Solana would reach a new all-time 
high this quarter, as he doubts “the train stops anytime soon” once it finally 
breaks out of the $200 resistance. Meanwhile, Crypto Batman suggested that the 
altcoin will see another correction soon. To the analyst, Solana could have a 
10% drop to its four-month ascending support line, which sits around the $150 
level, before “the real move.” Per the chart, the cryptocurrency has bounced 
from this support line twice, in April and June, before rallying to local 
highs during the May and July price breakouts. Related Reading: Cardano Marks 
Historical Milestone With Governance Vote, Hoskinson Reacts Similarly, analyst 
Ted Pillows asserted that SOL could see a significant rally this year despite 
the recent underperformance, as network activity remains strong. He predicted 
a 10%-15% correction, affirming that “a dip towards $140-$150 before reversal 
is highly likely to happen.” As of this writing, Solana is trading at $$163, a 
3.3% decline in the daily timeframe. Featured Image from Unsplash.com, Chart 
from TradingView.com