Obaid Ullah Trader

On Aug 01, 2025, 20:16 PM(UTC). According to Binance Market Data, Ethereum has dropped below 3,500 USDT and is now trading at 3,495.919922 USDT, with a narrowed 6.20% decrease in 24 hours.

According to Cointelegraph, Solana's native token, SOL, has experienced a 28% rally over the past three weeks, generating moderate optimism in the derivatives market. Despite this positive momentum, major players such as whales and market makers have yet to adopt a bullish stance. Traders are now contemplating what factors could drive SOL towards the $260 mark. The current annualized funding rate for SOL stands at 16%, indicating moderate enthusiasm among retail traders. Typically, under neutral conditions, the funding rate for perpetual contracts ranges between 5% and 15%, suggesting that long positions are paying a premium to maintain exposure.
Despite the recent price increase, SOL has underperformed compared to the broader altcoin market. For instance, Ether (ETH) surged by 51% and XRP by 41% during the same period. Although SOL is now trading near its highest level in five months, around $190, traders remain cautious. To reach the $260 level, SOL requires network growth and a sentiment boost. While leveraged bullish positions are not essential for SOL to reclaim this level, renewed confidence is necessary to counteract selling pressure. Solana's network activity remains 85% below January levels, yet network fees have increased by 27% over the past 30 days, contrasting with declines seen by competitors like BNB Chain and Base.
Solana generated $32.9 million in network fees over 30 days, with $12 billion in total value locked (TVL). In comparison, Ethereum holds $91 billion in deposits. These figures are promising for SOL holders, as staking yield is closely tied to network revenue. To assess whether professional traders are warming up to the idea of a rally to $260, the monthly futures market is worth examining. Under neutral market conditions, these contracts typically trade at a 5% to 10% premium over spot prices. On Monday, SOL's 3-month futures premium reached the neutral 6% level for the first time in five months, marking a departure from earlier bearish sentiment.
Investors are closely monitoring the potential approval of multiple spot Solana exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). Such approval could unlock institutional demand, similar to the success of Ether ETFs, and build on existing products like the REX-Ospray SOL Staking ETF (SSK). Registered under the Investment Company Act of 1940, the SSK ETF does not require the typical SEC S-1 filing. Since its launch on July 2, it has accumulated $130 million in assets under management. Given Solana's strong network activity and growing expectations for a spot ETF approval in the US, the likelihood of SOL reaching $260 in the short term appears strong.
$BTC $ETH $SOL

🔥 WalletConnect (WCT): The Hidden Gem of Web3 Connectivity 🔗

Everything in Web3 begins with connecting users, wallets, and decentralized applications. But it's not only about making connections. It has to be safe, smooth, and operate with all chains. That's where WalletConnect comes in.

WalletConnect started in 2018 and has quietly become one of the most important parts of blockchain infrastructure. It currently works with more than 600 wallets, connects to more than 67,000 dApps, and has enabled more than 300 million secure sessions for 47.5 million users. Is that impressive? That's putting it mildly.

Things are getting better now.

Welcome to the WalletConnect Network. This is a decentralized communication layer that makes the Web3 experience better, encourages $NEWT ideas, and moves the Web3 world into a future where there are no rules and no chains.

The Walletconnect Token, or $WCT

, is the main token in this network. It is a utility and governance token that was released on Optimism and Solana. But this isn't just another coin.

$WCT is very important for how the network works:

• 🔒 Staking secures the network;

• 💰 Rewards those who help the ecosystem thrive;

• 🗳️ Governance gives authority to the community;

• 🔁 A reasonable price structure helps support sustainability.

WalletConnect is more than simply a way to link wallets to applications. It's about creating the hidden tracks that Web3 needs to grow in a safe, easy, and collaborative way.

This priming is for you Marble estimators who Flying if often Web3 please Cubes — quick, rabid, and open.

@WalletConnect#WalletConnect $WCT

The cryptocurrency market may be signaling the return of altcoin season. For the first time in four years, the altcoin market capitalization chart has formed a golden cross—a bullish technical pattern where the 50-day moving average crosses above the 200-day average. This development suggests a potential trend reversal and a broader altcoin recovery.
Bitcoin’s market dominance, which measures its share of the total crypto market cap, fell to 63% on Tuesday from 65% on May 7. This decline hints at capital rotation from Bitcoin to altcoins, often considered a precursor to altcoin season. Meanwhile, Ethereum has shown strong bullish momentum, potentially drawing the attention of institutional and mainstream investors.
Altcoin markets have struggled to gain consistent traction during Bitcoin’s bull runs, often facing fragmented narratives, isolated rallies, low liquidity, and major token unlocks. However, recent weeks have shown signs of a turnaround. As Bitcoin’s momentum cooled slightly, altcoins surged, buoyed by improving sentiment.
The golden cross, highlighted by crypto analyst OxNobler on X, marks the first such occurrence since 2021. Back then, a similar pattern preceded a major altcoin rally that pushed the market cap from $150 billion to $1.67 trillion.
Bitcoin itself has rebounded sharply, rising from its April 7 low of $74,508—triggered by tariff-related fears—to over $105,000, supported by easing global trade tensions and the Federal Reserve's dovish stance on interest rates. Market confidence is reflected in ETF inflows, which surpassed $920 million over the last two weeks, and the overall crypto market cap hitting new highs.
On-chain data shows over 3 million BTC now in profit, while losing coins on exchanges like Bitfinex have declined. Bitcoin dominance (BTC.D) has dipped further to 62.2%—down from its May 7 high of 65.37%—mirroring a similar pattern from 2021, when BTC dominance dropped from a peak of 73.62% and sparked a massive altcoin rally.
With capital flowing away from Bitcoin and into alternative cryptocurrencies, all signs point toward the early stages of a full-fledged altcoin season.