Solana Price Regains Momentum As FTX Sell-Off Ends

After a significant dip to $51.27, Solana (SOL) is currently witnessing a notable recovery in its market price, currently trading at $55.31 (up 7%). This upswing follows a period of intense volatility, with SOL reaching a peak of $63.80 last Saturday, marking an impressive 270% rally over 61 days, only to drop almost 20% subsequently.

The FTX Factor In The Solana Price Movement

FTX has probably been a significant influence on SOL’s price volatility. A report from Lookonchain, an on-chain analysis service, indicates that FTX’s liquidity in SOL has drastically diminished, with Solana worth only $185,000 remaining in their public addresses. “FTX deposited 250,000 SOL ($13.6 M) to Kraken 7 hours ago. Currently, FTX’s public addresses on Solana only have 3,408 SOL,” Lookonchain reported.

Crypto influencer MartyParty commented on the situation, criticizing FTX’s strategy of liquidating SOL holdings for creditor payments as “one of the most idiotic moves in crypto history.” According to his observations, FTX’s liquid SOL has been entirely offloaded to the market, marking an end to its influence on SOL’s price dynamics.

Meanwhile, crypto analyst Bluntz pointed out that despite FTX’s consistent selling of SOL, ranging from 250,000 to 700,000 daily for the past three weeks, the price of SOL managed to stay resilient. He suggests that with the depletion of FTX’s unlocked tokens, a significant price surge for SOL could be imminent, “Once this seller is gone, I can only imagine how hard it’s gonna pump. Dont middle curve this.”

The Remaining SOL Holdings Of FTX

While FTX has sold 6.996 million SOL in the last few weeks, they are still sitting on a huge pile of Solana. Crypto Edgar provided an overview of FTX’s SOL holdings, highlighting that while the bulk of SOL transfers from FTX’s cold wallets have been completed, a substantial amount remains staked in various liquid stake solutions, potentially available for future sale.

“The FTX cold wallets contain almost no more SOL but they still hold some amount of liquid SOL which is staked in liquid stake solutions Lido Finance, Marinade Finance and JPool. In total 1.25 million SOL is still locked but could easily be withdrawn and sold as well,” the analyst remarked.

FTX SOL holdings in liquid staking

Moreover, it is important to note that FTX still holds 42.2 million SOL, worth $2.19 billion under lock-up. According to the SOL unlock schedule, each month sees the release of 618,400 SOL. This regular monthly unlocking accounts for about 1.1% of the entire SOL holdings of FTX. Notably, a significant event is scheduled for March 1, 2025, where 7.5 million SOL will be unlocked.

Solana Unlock Schedule

In conclusion, although some influencers are celebrating the end of the FTX sell-off, this is not the full reality. While a large chunk of selling pressure may have been very well absorbed by the market in recent weeks, it is not close to an end. The FTX factor for the Solana price is still out there.

Despite that the SOL price has shown tremendous strength in recent weeks, considering the massive selling pressure from FTX. At press time, SOL was trading at $55.31, making the 1,618 Fibonacci extension level at $57.85 once again the key resistance for the bulls.

Solana price

Ethereum Spot ETFs: BlackRock Takes The Fight To SEC With New Filing

BlackRock and NASDAQ have outlined why the SEC needs to approve the investment company’s new spot Ethereum exchange-traded fund (ETF) filing. According to the filing with the SEC, approval of a Spot ETH ETP would represent a major win for the protection of U.S. investors in the crypto asset space. 

If approved, the iShares Ethereum Trust would allow regular investors to trade Ether, the world’s second-largest cryptocurrency by market cap, as easily as stocks can be traded. 

BlackRock And NASDAQ Lobbies SEC To Allow Spot ETH ETFs

BlackRock, the world’s largest asset manager, recently applied to the SEC to launch an Ethereum exchange-traded fund (ETF) linked to the spot price of Ethereum. BlackRock wasn’t the first investment company to make this type of application, as hedge fund Ark Invest already filed for a Spot Ethereum ETF in September. However, the news of BlackRock’s filing sent Ethereum surging more than 11% in less than 24 hours. As a result, ETH broke over the strong $2,000 resistance level for the first time in seven months.

BlackRock’s Spot ETF is called the “iShares Ethereum Trust” and is sponsored by Ishares Delaware Trust Sponsor LLC, a subsidiary of Blackrock Inc. Coinbase, the largest crypto exchange in the US, acts as the custodian for the Trust’s ether holdings, which are to be traded on the NASDAQ exchange.

In its SEC filing, NASDAQ asked for a proposed rule change in order for it to list and trade shares of the ETF. According to the filing, US investors, for the most part, have lacked a US-regulated way to gain exposure to Ethereum investments. It also argues that most of the current methods are risky and subject to high trading fees and volatile discounts. 

For example, an investor who purchased the largest OTC ETH Fund in January 2021 and held the position at the end of 2022 would have had a 30% loss due to the change in the premium/discount, even if the price of ETH did not change. However, a spot ETH ETP like the proposed iShares Ethereum Trust ETF would better protect investors against the risk of losses through fraud and high premiums.

“To this point, approval of a Spot ETH ETP would represent a major win for the protection of U.S. investors in the cryptoasset space,” the filing said.

Potential Impact On Ethereum Price If The ETF Is Approved

Despite spot crypto ETFs being available in other countries, including Germany, France, and Canada, the SEC has been hesitant to greenlight a crypto ETF in the US, and 12 Bitcoin spot ETFs are currently waiting for approval. 

A US Spot Ethereum ETF would significantly boost interest and confidence in Ethereum and ultimately drive the asset to new highs. The hype leading up to the approval may also push the asset to a new yearly high.

ETH is up by more than 60% this year and has outperformed BTC in the past few days. It is currently trading at $2,060 and analysts believe a bullish cross over $2,150 would signal the end of the bear market for ETH.

Ethereum price chart from Tradingview.com (BlackRock Spot Ethereum ETF)

Interview: Elan Future’s CEO Jerome-Olivier Malo on Transforming the Energy Sector

Elan Future is a project that is working towards achieving universal access to energy. Recently, we caught up with its CEO, Jerome-Olivier Malo and asked a few questions to gain some insights about him and the project.

Elan – Unveiling the Vision

Q: Let’s start with the present day. Could you share with our readers what Elan is and what inspired the creation of this innovative company?

Elan Future is an uprising against the darkness that blankets millions of lives. Our battle is against the injustice of energy poverty and the passivity in facing the world’s dire energy crunch. We are here to flip the script on how energy is shared, saved, and savored.

Enter Apollo — not your everyday generator, but a maverick of magnetic marvel that’s redefining efficiency. It’s our secret sauce in the quest for an electrified planet, a piece of tomorrow’s technology here to disrupt today’s energy norms.

The spark for Elan? It was the world’s energy outcry that no one could ignore. As the globe grapples with an energy plight that hits both wallets and resources hard, we saw a beacon of hope in the form of Apollo, ready to lead the charge in this new energy revolution.

Our ranks are filled with the best and bravest — physicists defying the status quo, Hydro-Québec engineers with electricity in their veins, financial wizards who see beyond the bottom line, and angel investors with their gaze fixed on a horizon lit by innovation.

What inspired Elan’s inception was a cocktail of frustration and foresight — frustration at a world where energy is a privilege and foresight that sees it as a fundamental right. By welding our state-of-the-art tech with the bedrock of blockchain, we’re sparking a transparent energy uprising. Elan Future is here to ensure energy is not just consumed but embraced as a universal currency of progress. It’s not just about keeping the lights on; it’s about igniting a flame of change in every soul we touch.

Inception and Community Impact

Q: What was the spark that ignited the idea for Elan Future? How do you envision it making a positive impact on the community and beyond?

The spark for Elan Future came from a profound place of need—a need that you can see in the eyes of the millions who live off the grid, and in the strained grids of our cities that barely keep up with our current demands. It struck me during a blackout; as I sat there in the dark, I realized that this was a daily reality for so many people. That moment of frustration lit the fire of creation for Elan.

I envision Elan Future as a catalyst for change. With Apollo, we’re proposing a new way of life. It’s about creating a world where energy is not a luxury but a given. A world where communities can thrive, not just survive, because they have the power—literally—to do so.

But the impact doesn’t stop at the light switch. We’re talking about empowering communities with the means to grow and sustain themselves. Energy drives education, healthcare, and economic opportunities. Imagine schools that can light up young minds, hospitals that can save lives around the clock, and small businesses that can flourish. That’s the future Elan is dedicated to building.

And on a larger scale, by bringing energy to areas that were previously in the dark, we’re sparking innovation on a global level. We’re contributing to the creation of a more balanced, more connected world, where the flow of energy is as natural and equitable as the flow of information is today

The Journey Behind Elan

Q: Jerome, you have an extensive background in various endeavors before Elan Future. Could you take our readers on a journey through your experiences and how they’ve led you to this point?

Absolutely, it’s been quite the adventure, and every step has played a part in leading me to where I am today with Elan Future.

My journey started in the tech industry, where I was fascinated by the power of technology to connect people and ideas. I spent years working with dynamic startups, where I learned that at the heart of any successful innovation lies a keen understanding of the human experience.

From there, I ventured into the world of finance. I saw how economic systems could either enable growth or create barriers. This experience was eye-opening—it was about understanding risk, recognizing potential, and investing in ideas that could shape the future.

But it was my time spent volunteering with non-profits that truly set the stage for Elan Future. I saw firsthand the challenges faced without reliable energy. Schools struggled to stay open after dark, medical clinics couldn’t preserve life-saving vaccines, and simple tasks were monumental without power.

This patchwork of experiences brought clarity. The tech industry taught me about the power of innovation, finance showed me how to turn ideas into reality, and my time in the field revealed the critical need for sustainable energy solutions. The throughline was clear—energy was the key to unlocking potential on an individual and global scale.

With Elan Future, I’ve taken this tapestry of experiences and weaved them into our mission. Every lesson learned, every success and setback, has been a stepping stone to this moment, where we have the opportunity to illuminate lives and empower communities on a scale that truly matters.

Meet the Elan Team

Q: The team behind a project is often critical to its success. Can you introduce us to the remarkable individuals who make up the Elan Future team and share their unique contributions?

Success at Elan Future is truly a team sport, and we have an all-star lineup that’s hard to beat. Each individual’s expertise is not just a cog in the machine but a vital organ in the body of our mission—electrifying the future.

Dr. Benoit Guay is our scientific maestro, a PhD in Applied Physics with a mind that’s as brilliant as it is unconventional. His groundbreaking work on the edges of physics—including mass reversals and magnetic susceptibility—puts us leagues ahead in the field of energy innovation. Benoit is the brain behind the science that powers Elan Future’s technology.

Sylvain Roy, Esq, is the guardian of our intellectual arsenal. With a keen eye for technology monetization and a sharp mind for IP valuation, he navigates the complex waters of international law with the finesse of a seasoned captain. His lectures at the IP Business Academy and CEIPI at Université de Strasbourg are just a sliver of the prowess he brings to our legal strategy.

Doryne Bourque is the heartbeat of our corporate social responsibility. Her positions on various boards demonstrate her leadership and commitment to sustainable development and responsible finance. Her passion for equitable resource distribution aligns perfectly with our mission, guiding Elan Future’s strategic decisions with a conscience.

Last but not least, Denis Chartrand, eng, is the architect of our infrastructure. His experience at Hydro-Québec, where he was instrumental in developing strategies post-the 1998 ice storm, has given him unparalleled expertise in resilient and smart grid technology. Denis’s vision shapes the robust and innovative framework that allows our technology to thrive.

Together, this dream team’s diverse skills and passions fuel Elan Future’s drive to bring sustainable, reliable energy to every corner of the globe. We’re more than just a company; we’re a collective force on a mission to electrify the future, and our team’s expertise is our powerhouse.

Elan’s Milestones

Q: Could you highlight some of the noteworthy breakthroughs and milestones that Elan Future has achieved so far?

Our journey with the Apollo Generator is a testament to our commitment to innovation and transformative change. Filing several patents for Apollo was just the beginning. These patents are more than documents; they’re the blueprints for a future where access to energy is universal—a future we’re actively constructing.

Launching our blockchain and introducing our own token was a bold move towards a vision where energy isn’t just consumed but is part of a transparent, equitable exchange. It’s about giving power back to the people—literally. We’ve given away millions in free tokens, not as a promotional stunt, but as a statement of our belief in a community-driven energy revolution. This token isn’t just a currency; it’s a new way of connecting people to their power, their community, their environment.

The creation of Apollo and our other groundbreaking innovation, the Pathfinder, represent the pinnacle of our achievements.

Every step we’ve taken at Elan Future is a step towards demystifying and democratizing energy. We are a movement powered by the courage to reimagine what’s possible, making the future accessible, one innovation at a time.

A Glimpse of the Future

Q: What’s on the horizon for Elan Future? Can you give us a sneak peek into any exciting announcements or developments that our readers should keep an eye out for in the near future?

The future of Elan Future is filled with promise and innovation, including our exciting Cassiopée project. Cassiopée represents a harmonious blend of technology, design, and sustainability, where homes are sanctuaries that provide clean, renewable energy. We’re creating a community where energy is not just a resource but a way to improve living standards and alleviate poverty. We invite our readers to stay tuned for developments in both our energy innovations and the Cassiopée project, which are set to reshape the way we think about energy and sustainable living.

Joining the Initiative

Q: For our readers who are eager to get involved, how can they become part of the Elan Future initiative? What opportunities exist for them to contribute or participate?

For readers eager to get involved with Elan Future, there are opportunities for collaboration and participation. We welcome discussions on future-focused initiatives, technological solutions, or strategic partnerships. Elan is about creating a community of like-minded visionaries who embrace innovation, sustainability, and collaboration to shape a better future. Reach out via twitter or discord to explore how you can contribute to our mission.

Parting Thoughts

Q: Is there anything else you’d like to share with our readers, perhaps a message, a call to action, or a vision that encapsulates Elan Future’s mission and ethos?

As we stand at the crossroads of innovation and tradition, Elan Future beckons to a horizon brimming with promise. Our mission has always been clear: to illuminate every corner of the globe with accessible, sustainable energy. But this vision isn’t just ours to build—it’s a tapestry woven from the aspirations of every individual, community, and nation we touch.

To the readers, our call to action is simple yet profound: join us. Engage with us. Be part of the energy revolution that moves beyond the constraints of the grid to a world where energy flows as freely as information does today. Every token we’ve shared, every patent we’ve filed, every innovation we’ve brought to life like Apollo and Pathfinder, is a step toward this boundless future.

We invite you to imagine a planet where energy poverty is history, where clean power fuels not just our homes and devices, but also our dreams and opportunities. This is the future Elan Future is committed to—a future where we aren’t just passive consumers of energy, but active participants in a vibrant energy ecosystem.

So, as we look to the future, let’s not just be spectators. Let’s be the architects of an electrified tomorrow. Invest in sustainable choices, support clean energy initiatives, and embrace the technologies that prioritize the planet as much as they do profit. Together, we can ensure that our collective tomorrow shines brighter than ever—a testament to what we can achieve when we harness energy not just to power our devices, but to empower our lives.

Let’s take this journey together—for the planet, for our communities, and for the generations to come.

Ethereum Holds Ground As The Bulls Prepare For A Fresh Surge

Ethereum price is struggling to gain strength above $2,100. ETH is consolidating above $2,000 and might start a fresh surge if it clears $2,100.

  • Ethereum is showing positive signs above the $2,000 support zone.
  • The price is trading above $2,010 and the 100-hourly Simple Moving Average.
  • There is a connecting bearish trend line forming with resistance near $2,090 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh increase if it clears the $2,100 resistance zone in the near term.

Ethereum Price Remains In Uptrend

After forming a base, Ethereum price made another attempt to clear the $2,100 resistance. However, ETH failed to gain bullish momentum and trimmed all gains, like Bitcoin.

There was a move below the $2,050 level and the price spiked below the 100-hourly Simple Moving Average. However, the bulls were active above the $2,030 level. A low is formed near $2,031 and the price is now moving higher.

Ethereum is now trading above $2,040 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,075 level or the 50% Fib retracement level of the recent decline from the $2,118 swing high to the $2,031 low.

The next major resistance sits at $2,100. There is also a connecting bearish trend line forming with resistance near $2,090 on the hourly chart of ETH/USD.

Ethereum Price

Source: ETHUSD on TradingView.com

A close above the trend line and $2,100 could send the price further higher toward the $2,150 zone. The next key resistance is near $2,220, above which the price could aim for a move toward the $2,300 level. Any more gains could start a wave toward the $2,450 level.

Another Bearish Wave in ETH?

If Ethereum fails to clear the $2,100 resistance, it could start a fresh decline. Initial support on the downside is near the $2,030 level and the 100-hourly Simple Moving Average.

The next key support is $2,000. A downside break below the $2,000 support might start a sharp decline. In the stated case, Ether could drop toward the $1,930 support zone in the near term. Any more losses might call for a drop toward the $1,850 level.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 level.

Major Support Level – $2,000

Major Resistance Level – $2,100

Bitcoin Price Lacks Momentum Above $37K, But Dips Likely To Be Limited

Bitcoin price is consolidating gains below the $37,000 zone. BTC could gain bullish momentum if there is a close above the $36,800 and $37,000 levels.

  • Bitcoin is holding gains above the $36,000 support zone.
  • The price is trading below $37,000 and the 100 hourly Simple moving average.
  • There is a key bearish trend line forming with resistance near $36,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could make another attempt to gain strength above $37,000.

Bitcoin Price Holds Key Support

Bitcoin price made another attempt to clear the $37,500 resistance. However, BTC failed to continue higher toward the $38,000 resistance. A high was formed near $37,423 and the price started a downside correction.

There was a move below the $37,000 pivot level. The price declined below the $36,500 level but stayed above $36,000. A low is formed near $36,183 and the price is now rising. There was a move above the $36,450 level. The price is trading above the 23.6% Fib retracement level of the recent decline from the $37,423 swing high to the $36,183 low.

Bitcoin is now trading below $37,000 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $36,600 on the hourly chart of the BTC/USD pair.

On the upside, immediate resistance is near the $36,600 level. The next key resistance could be near $36,800 or the 50% Fib retracement level of the recent decline from the $37,423 swing high to the $36,183 low. The first major resistance is near $37,000, above which the price might accelerate further higher.

Bitcoin Price

Source: BTCUSD on TradingView.com

In the stated case, it could test the $37,500 level. Any more gains might send BTC toward the $38,000 level, above which the price could gain bullish momentum and rally toward $40,000.

Another Decline In BTC?

If Bitcoin fails to rise above the $36,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $36,180 level.

The next major support is near $36,000. If there is a move below $36,000, there is a risk of more downsides. In the stated case, the price could drop toward the key support at $35,500 in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $36,180, followed by $36,000.

Major Resistance Levels – $36,600, $36,800, and $37,000.