Uniswap, Morpho and others collaborate on Web3SOC, a framework for determining a DeFi project’s ‘readiness for institutional partnerships’

Ethereum is down $79.66 today or 3.18% to $2427.53

• Lowest 5 p.m. level since June 5, 2025 when it traded at $2399.34
• Down three of the past four days
• Down two consecutive days, down 4.03% over this period
• Down 4.54% month-to-date
• Down 27.42% year-to-date
• Down 49.43% from its all-time high of $4800.00 on Nov. 9, 2021 (based on 5 p.m. levels)
• Down 31.02% from 52 weeks ago (June 21, 2024), when it traded at $3518.95
• Down 40.07% from its 52-week high of $4050.30 on Dec. 16, 2024 (based on 5 p.m. levels)
• Up 64.09% from its 52-week low of $1479.38 on April 8, 2025 (based on 5 p.m. levels)
• Traded as low as $2374.82; lowest intraday level since May 19, 2025 when it hit $2353.53
• Down 5.28% at today's intraday low

Note: The Ethereum price is a 5 p.m. ET snapshot from Kraken

Data compiled by Dow Jones Market Data

Blockchain company Ripple has issued an additional 14 million tokens on the Ethereum blockchain, according to a Friday update. 

This is the largest number of tokens minted in a single day since Apr. 25, according to Ripple Stablecoin Tracker. 

Ripple has so far minted a total of 42 million RLUSD in June. Notably, all of these tokens were created on Ethereum instead of the XRP Ledger.

The total market capitalization of the stablecoin is now approaching $450 million, CoinGecko data shows. 

As reported by U.Today, RLUSD expanded its global presence by securing key regulatory approval in Dubai earlier this month.

Ondo Finance also launched U.S. Treasuries on the XRP Ledger, making it possible for qualified purchasers to mint OUSG with the help of the RLUSD stablecoin.

On top of that, Ripple teamed up with AlchemyPay to expand access to RLUSD by enabling hundreds of fiat payment methods such as Visa and Apple Pay. 

Meanwhile, Circle recently announced that USD Coin (USDC), the second-largest stablecoin, had added support for the XRP Ledger. 

CoinDesk Bitcoin Price Index is down $907.59 today or 0.87% to $103368.55

• Lowest 4 p.m. level since June 5, 2025 when it traded at $101903.41
• Down three of the past four days
• Down 1.69% this week
• Worst weekly performance since the week ending May 30, 2025 when it fell 3.78%
• Down 1.33% month-to-date
• Up 10.66% year-to-date
• Down 7.70% from its all-time intraday high of $111986.44 on May 22, 2025
• Up 61.08% from 52 weeks ago (June 21, 2024), when it traded at $64173.16
• Down 7.70% from its 52-week intraday high of $111986.44 on May 22, 2025
• Up 107.61% from its 52-week intraday low of $49314.04 on Aug. 5, 2024
• Traded as low as $102379.16; lowest intraday level since June 6, 2025 when it hit $100442.43
• Down 1.82% at today's intraday low

Note: CoinDesk Bitcoin Price Index (XBX) at 4 p.m. ET close

Data compiled by Dow Jones Market Data

Solana is currently testing a critical demand zone near the $150 level after enduring weeks of persistent selling pressure and a broader shift in market sentiment. The asset is now trading roughly 20% below its May high of $185, with recent attempts at recovery facing strong resistance. Despite holding above major support for now, the overall structure suggests that downside risk remains if market conditions don’t improve soon.

Top analyst Efloud shared a technical analysis on X, highlighting the importance of tracking Solana’s response to broader Bitcoin dynamics. He noted that if Bitcoin (BTC) continues to consolidate sideways while Bitcoin dominance (BTC.D) rises, altcoins like SOL may struggle. In that case, Solana could continue retracing to find stronger support at mid-zones, particularly around the $123 and $116 levels.

These price zones have previously acted as solid support/resistance areas and could serve as key inflection points should bearish momentum persist. A breakdown toward these targets would likely coincide with increasing BTC.D and continued investor caution in the altcoin market. Until then, SOL remains vulnerable within a fragile technical structure, and traders will closely watch for either a rebound or deeper correction in the coming days.

Solana Holds Key Support As Analysts Eye Bullish Scenarios

Solana is currently trading about 50% down from its all-time highs, with the explosive momentum seen at the end of 2024 now replaced by more subdued price action. The asset’s underperformance has left investors cautious, but many analysts remain optimistic about Solana’s potential once a new altcoin rally begins. For now, the focus is on holding critical demand zones that could determine whether SOL is gearing up for a recovery or further downside.

According to Efloud, if Bitcoin continues consolidating sideways while Bitcoin dominance rises, Solana may find support at several mid-zones, particularly around $123 and $116. The $140 region has historically acted as a strong support/resistance flip, and a deviation around this level—losing it briefly before regaining it with strength—could present a short-term buying opportunity.

Efloud notes that this scenario doesn’t necessarily imply that SOL must drop to those levels, but current market conditions—aside from Bitcoin—lack strong pair structures. If SOL can decisively break above the $168 resistance, a new leg upward could be triggered, with $230 potentially acting as the next major resistance zone.

On the SOL/BTC pair, Efloud is watching for a reclaim of the 0.0015 level or a pullback toward 0.00115 for confirmation. Another key support sits at 0.000988 sats.

Despite the current cooling, the structure may still offer solid opportunities for new entrants. If these levels hold and macro conditions improve, SOL could be setting the stage for a sustainable rally, ultimately leading to new all-time highs.

Weekly Chart Analysis – Holding the Line Near Key Support

Solana is currently trading at $148.33 on the weekly timeframe, showing a 3% decline over the past seven days. The price has dropped roughly 20% from its May high of around $185 and is now testing the critical $140–$150 support zone. This level has repeatedly acted as a pivot point in the past and could define SOL’s short-term trajectory.

The chart shows that Solana has been unable to reclaim the 50-week moving average (currently near $170), which now acts as key resistance. A decisive weekly close above this level would open the door for a bullish continuation toward $185 and possibly $200. However, failure to hold above the 100-week moving average around $132 could lead to further downside pressure, with $123 and $116 as the next demand zones to watch—levels identified by analyst Efloud in his mid-zone scenario.

Volume has declined steadily over the past three weeks, signaling reduced participation, but also suggesting that aggressive selling is fading. If bulls manage to reclaim $160 with conviction, the structure remains favorable. For now, SOL remains in a consolidation phase, awaiting either a breakout or further correction as broader crypto market conditions unfold.

Featured image from Dall-E, chart from TradingView