Solana News: Potential Short-Term Buying Opportunity Amidst Bearish Trends and Institutional Interest

Solana's Short-Term Outlook: TD Sequential Shows Promise

The TD Sequential indicator predicted Solana’s intraday top before the Bybit hack and is now signaling a short-term buying opportunity. Franklin Templeton has filed for a Solana spot ETF, which could attract institutional investment and boost market legitimacy. Technical analysis shows weak price action, with concerns that SOL may not move upwards until surpassing $209.

Solana Faces Bearish Trends and Token Unlocks

Solana (SOL) has seen a steep drop in its token price, falling 32% from $256 to $173 over the past month. Network activity has also declined, with the number of active addresses falling below January lows. As the ecosystem prepares for upcoming token unlocks, many are concerned about further declines for the cryptocurrency.

Solana Struggles With an 11% Weekly Loss, While This Layer-2 Meme Coin’s ICO Skyrockets

This week, Solana experiences an 11% decline, raising concerns among investors. At the same time, a new Layer-2 meme coin’s initial offering is soaring, capturing market attention. These contrasting trends pose an intriguing question: Is now the ideal moment to consider investing in emerging tokens? The unfolding events suggest potential opportunities worth exploring.

Lazarus Group Tied to Bybit Hack and Solana Memecoin Scandals

On February 23, 2025, on-chain investigator ZachXBT published findings connecting North Korea’s Lazarus Group to the massive $1.4 billion Bybit hack on February 21, 2025. The report also ties the group to recent memecoin scams on Solana’s Pump.fun platform. ZachXBT’s analysis highlights a complex laundering operation involving stolen funds from the Bybit exploit, where Lazarus Group laundered $1.08M from Bybit hack via Solana. The investigation further reveals that Lazarus Group’s involvement in the Bybit hack also extends to a $29M Phemex breach and other scams.