Latest news with #Solana
Al Etihad
3 hours ago
- Business
- Al Etihad
RAKBANK becomes first UAE conventional bank to offer retail crypto trading via mobile app
30 July 2025 11:29 A. SREENIVASA REDDY (ABU DHABI) RAKBANK has launched a pioneering crypto brokerage service through its mobile banking app, allowing retail customers to buy, sell, and swap cryptocurrencies directly from their dirham accounts, a statement from the bank initiative makes RAKBANK the first conventional bank in the UAE to offer crypto trading, following a strategic partnership with Austrian fintech firm Bitpanda.'Through the service, customers can convert dirhams into a range of leading digital assets such as Ethereum (ETH), Solana (SOL), Ripple (XRP), Binance Coin (BNB), Chainlink (LINK), Tron (TRX), and Cardano (ADA),' according to FAQs on various aspects of crypto trading published on the bank's transactions are executed in dirhams, eliminating the need for foreign currency transfers and associated service is enabled via Bitpanda's crypto trading platform, which is accessible through RAKBANK's app. Bitpanda's custody infrastructure holds the digital assets, which cannot be transferred between FAQs also outline the procedures for trading. Users must link a RAKBANK current or savings account to access the service and ensure sufficient funds are available before placing orders through the crypto dashboard.'Customers can close their crypto accounts at any time by converting assets back to dirhams and raising a closure request within the app,' the FAQs service is currently available by invitation only, with plans for a broader rollout in the coming months. The partnership is facilitated through Bitpanda Broker MENA DMCC, a Virtual Assets Regulatory Authority (VARA) regulated entity. Bitpanda is also licensed by several European regulators and operates as a trusted platform for over 6.5 million users worldwide, including major financial institutions like Deutsche Bank, Raiffeisen Bank, and on the launch, Raheel Ahmed, Group CEO of RAKBANK, said, 'RAKBANK has been a leader and pioneer in digital assets among UAE banks, and we are proud to be the first conventional bank in the UAE to enable simple, secure, and regulated access to a world-class digital assets platform.'Bitpanda's Deputy CEO, Lukas Enzersdorfer-Konrad, added, 'Collaborating with RAKBANK is a big moment for digital assets in the region. Together, we're showing how crypto can be offered in a safe, regulated, and simple way — directly from a major conventional bank that customers already trust.' Founded in Vienna in 2014, Bitpanda is recognised as Europe's leading crypto platform. It offers over 3,200 digital assets—including cryptocurrencies, stocks, ETFs, precious metals, and commodities—and maintains offices in Vienna, Barcelona, Berlin, and Bucharest. The firm is known for its strong regulatory standing and secure infrastructure, making it one of the most trusted trading platforms in the sector.
Yahoo
6 hours ago
- Business
- Yahoo
Nasdaq-Listed Upexi Secures $500M Equity Line to Expand Solana Treasury Holdings
Solana (SOL) treasury activity continues to draw institutional attention after Nasdaq-listed consumer brand company Upexi Inc. announced a new $500 million equity line agreement on Monday. The facility, arranged with A.G.P./Alliance Global Partners, allows the company to issue common stock at its discretion, subject to certain closing conditions. In a press release, Upexi said the funds will be used for general corporate purposes and to expand its Solana treasury strategy, which has grown rapidly since the company began accumulating SOL earlier this year. The firm emphasized that the facility includes 'no commitment fee' and was negotiated on 'particularly friendly terms,' offering what Upexi described as an attractive cost of capital. 'The equity line gives Upexi additional means and flexibility to raise capital and increase its Solana position,' CEO Allan Marshall said in the release. 'We now have a multitude of tools to raise capital in the most cost-effective and accretive manner.' The announcement follows Upexi's July 21 disclosure that it had acquired another 100,000 SOL — funded through a $200 million private placement — bringing its total holdings to 1,818,809 SOL worth approximately $331 million at the time. More than half of the tokens were purchased in locked form at a discount, resulting in an estimated $58 million unrealized gain. The company has since staked nearly all of its SOL to earn yield, projecting up to $26 million in annual staking revenue at current rates. Upexi has also introduced a new benchmark, the 'Basic mNAV,' which measures its market cap against the dollar value of its SOL holdings. As of July 18, that ratio stood at 1.2x. The stock issuance arrangement gives the company additional room to scale its strategy, potentially giving it a larger role in shaping market expectations around institutional altcoin accumulation. Still, Monday's price action for SOL showed mixed sentiment. According to CoinDesk Data, SOL declined 0.99% to $187.35 in the past 24 hours. The downturn followed a sharp reversal from intraday highs, with heavy selling pressure emerging during the afternoon session. However, volume spikes late in the day hinted at renewed interest from market participants, possibly positioning ahead of further treasury updates or macro catalysts. Technical Analysis Highlights According to CoinDesk Research's technical analysis data model, SOL traded within a 24-hour range of $186.38 to $194.99, a 4.47% swing, from July 27 at 16:00 UTC to July 28 at 15:00 UTC. The price rallied from $186.42 to $194.99 by 05:00 UTC on July 28, gaining 4.59% before encountering resistance. A sharp selloff followed from 12:00 UTC to 14:00 UTC, as the price dropped from $192.82 to $187.38 on heavy volume exceeding 2.5 million units. In the final 60 minutes (14:35–15:34 UTC), SOL rebounded 0.78%, climbing from $187.34 to $188.81. During this recovery, price consolidated between $187.15 and $188.94 before breaking above the $188.50 resistance at 15:22 UTC. Volume spiked to 39,417 units at 15:32 UTC, indicating institutional accumulation and suggesting potential for further gains. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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New Straits Times
8 hours ago
- Business
- New Straits Times
MARKET PULSE AM JULY 30, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia's 30-stock index opened lower, tracking losses from overnight Wall Street performance as profit-taking emerged ahead of the US Federal Reserve interest rate cut decision later today. That said, a near-term rebound is anticipated for the local bourse, failing which it could remain in a consolidation phase. In the cryptocurrency market, Bitcoin fell to RM500,501. Ethereum showed a negative trend, falling to RM16,015, while Solana traded at RM763. That's it for Market Pulse. _Zz6jPbrtl0
Yahoo
8 hours ago
- Business
- Yahoo
BONK Surges 6% as Solana Ecosystem Momentum Sparks Investor Interest
BONK has rallied 6%, recovering from earlier declines to reach $0.000036. The Solana-native meme coin traded in a wide 12% range, moving between $0.00003276 and $0.00003670, with pronounced volatility offering opportunity for accumulation by strategic buyers. Price momentum was strongest between 12:00 and 13:00 UTC on July 28, when BONK surged to its daily high of $0.00003670 on exceptional volume of 3.8 trillion tokens, according to CoinDesk's technical analysis data model. High-intensity buying also emerged during the 13:32–13:35 UTC interval, where trading volumes topped 115 billion tokens per minute, a move which appeared to signal institutional confidence. The rally coincided with encouraging network-level data for Solana. Non-fungible token (NFT) trading activity on Solana hit a Q3 high on July 28, with total daily sales and unique buyers rising to their strongest levels since mid-June, according to SolanaFloor. This renewed momentum across Solana's broader ecosystem likely contributed to BONK's bullish reversal, reinforcing market conviction in the meme token's ecosystem positioning. Technical Analysis BONK traded between $0.00003276 and $0.00003670, a 12% intraday range. Volume exceeded 3.8 trillion tokens during midday rally from 12:00–13:00 UTC. Price rebounded 1% from $0.00003590 to $0.00003629 in the final hour. Key support held at $0.000033, with institutional bids during price dips. 13:32–13:35 UTC marked the highest minute-by-minute volumes at 115B tokens. Solana NFT activity hit Q3 highs on July 28, according to SolanaFloor. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Crypto Insight
10 hours ago
- Business
- Crypto Insight
Cathie Wood's ARK partners with SOL Strategies for staking services
Cathie Wood's ARK Invest has named Canada-based SOL Strategies as its exclusive staking partner for the company's Digital Assets Revolutions Fund. Under the partnership, ARK Invest will move its validator operations to the SOL Strategies staking infrastructure. Created in 2020, the Fund typically invests in 10 to 12 cryptocurrencies aiming to generate returns over a full market cycle of four to five years. 'We serve a growing number of institutional and enterprise clients seeking compliant, reliable access to Solana through delegated staking and custom validator infrastructure,' SOL Strategies CEO Leah Wald told Cointelegraph. BitGo, an institutional custody platform that partnered with SOL Strategies in April, will also be involved. Staking is the process of locking up cryptocurrencies to help secure a blockchain network and earn rewards. Solana epochs last about two to three days, after which Solana stakers receive a certain amount of the native coin. 'We currently operate five validators with over 3.59 million SOL (CAD $888 million) ($647.2 million) in assets under delegation and more than 5,700 unique wallets staked, with just 12% coming from our own treasury, the rest from third parties,' Wald said. However, staking has risks. If a validator were to misbehave, its staked tokens could be slashed, resulting in losses for investors. According to Solana Compass, roughly 403 million SOL tokens are being staked at this writing for a total of $73.5 billion. SOL Strategies posted a loss of $3.5 million for the second quarter of 2025, although its staking and validating revenue grew significantly. Other companies like DeFi Development Corp. and Upexi have also pivoted to Solana treasuries as the asset has gained more traction among traditional investors. Increased interest in staking from institutional investors ARK Invest's move indicates increased interest from institutional investors, who may want to earn yield on crypto assets along with the potential appreciation in price. Asset managers are also seeking to get exposure to Ether staking. Over the past few months, several issuers of Ether exchange-traded funds (ETFs) have submitted formal requests with the SEC seeking approval for income-generating features. 'We're seeing a clear surge in institutional interest in Solana exposure, not just to the asset, but to structured, investable vehicles that provide access with regulatory clarity,' Wald said. As the U.S. regulatory landscape becomes more defined, family offices, hedge funds, and asset managers are actively seeking products like ETFs, structured notes, and public equities (DATs and Solana technology firms like ours) that offer clean Solana exposure. ARK Invest is well-known in crypto circles, making a plethora of investments with significant amounts of capital. Recently, it scooped up shares in Circle's initial public offering before selling the first batch of shares for $52 million on June 17. It is an active participant in Bitcoin ETFs and has invested in crypto companies' stocks in the past. Source:
