Solana News: Bullionaire Coin ($BULL) Secures Significant Private Investment for Blockchain Ecosystem Development

Bullionaire Coin, a cryptocurrency built on the Solana blockchain, has made significant strides in its development with a recent injection of private investment.

Bullionaire Coin ($BULL) Secures $400,000 in Private Investment

Bullionaire Coin ($BULL), a Solana-based cryptocurrency, has secured $400,000 from private investors to support the development of its blockchain ecosystem. The project aims to integrate digital assets with exclusive experiences for token holders through a tiered benefits system. The ongoing presale has raised over $46,000, reflecting early participation in the project. To enhance security, blockchain auditing firm Coinsult has reviewed Bullionaire’s smart contracts, confirming their functionality and compliance with security protocols. Bullionaire Coin has introduced a structured benefits model that provides increasing privileges based on the duration of token holdings.

Solana Short Traders Deploy $730M Leverage as SOL Price Hits Seven-Month Lows

Solana (SOL) plunged to $115 on Monday, marking a 24.5% loss over five consecutive days and reaching seven-month lows. The loss of key support levels at $125 and $120 over the weekend sparked major liquidations. Bears have deployed $730 million leverage on SOL short positions in the last seven days. Derivative markets data suggest SOL bears could press for more downside in the coming sessions.

Solana Futures Drops 19% – SOL Investors Losing Confidence?

Solana [SOL] is teetering on a critical support range between $125 and $110. With the broader crypto market in flux, SOL’s ability to hold this level will be a key test of investor confidence. Futures traders are losing conviction, with Open Interest in Solana Futures dropping 19% since March began, signaling a shift in sentiment. A failure to hold the support range may trigger a deeper correction towards $100.

Solana Revenue and TVL Slump Amid Memecoin Bubble Burst

Solana network revenue and total value locked (TVL) onchain have collapsed in the past two months following the bursting of the memecoin bubble. Weekly network revenue hit a record high of $55.3 million in mid-January but has since tanked 93% to around $4 million. Similarly, Solana weekly decentralized application (DApp) revenue has slumped around 86% from $238 million in mid-January to $32 million. DeFi TVL on Solana has also declined by almost 50% over the same period, falling from a January high of just over $12 billion to current levels of around $6.4 billion.