Ellipsis Labs Reveals Role in Solana’s Surging DEX SolFi, Capturing 20% Market Share

Ellipsis Labs, a DeFi development team known for its work on an Ethereum layer-2 solution leveraging Solana’s technology, has stepped forward as the creator behind SolFi—a decentralized exchange (DEX) that has taken the Solana ecosystem by storm. Since its launch in November, SolFi has swiftly secured over 20% of the stablecoin-to-SOL swap market share, leaving industry experts intrigued by its consistently superior pricing. The DEX’s rapid ascent and competitive edge have even caught some of Ellipsis Labs’ own partners by surprise, highlighting its disruptive potential in the Solana DeFi landscape. This development underscores Solana’s growing dominance in high-performance decentralized finance and could further bolster SOL’s adoption as a leading blockchain for scalable trading solutions.

Ellipsis Labs Claims Credit for Solana’s Mysterious Top DEX, SolFi

Ellipsis Labs, a DeFi development team currently working on an Ethereum layer-2 solution using Solana’s software, has publicly claimed responsibility for creating SolFi—a decentralized exchange (DEX) that rapidly captured over 20% of the stablecoin-to-SOL swap market share on Solana since its November launch.

The DEX’s ability to offer superior pricing puzzled industry observers, with even some business partners unaware of its origins until now. Eugene Chen, co-founder of Ellipsis Labs, attributed SolFi’s success to the team’s deep understanding of Solana’s ecosystem.

Crypto Influencers Offered $350K Airdrop to Launch Solana Meme Coins

Boop.fun, a new Solana-based token launchpad, has sparked both excitement and ethical debates by offering crypto influencers up to $350,000 worth of BOOP tokens to launch new meme coins. The platform, which positions itself as a Pump.fun competitor, rewards creators with daily BOOP distributions and staking benefits.

The initiative has drawn attention for its aggressive incentive structure, with some influencers facing moral dilemmas about promoting speculative assets. Solana’s ecosystem continues to attract innovative—and sometimes controversial—projects leveraging its low-cost transaction environment.

Solana Price Analysis and Forecast: Deviation or Market Breakout?

Solana’s institutional demand surges as U.S. spot ETF approval speculation grows. The network’s native token, SOL, has reclaimed the 50-day SMA support level, with eyes set on $180 resistance.

Three consecutive bullish weekly closes signal renewed confidence. SOL gained over 20% in April 2025, trading at $150.33 during Thursday’s late North American session. The rally coincides with a $1.6 billion increase in futures open interest.

Market momentum builds as Solana’s fully diluted valuation approaches $90 billion. Daily trading volume averages $3.7 billion, reflecting robust liquidity. Institutional accumulation patterns mirror those seen before major altcoin breakouts.

Solana Price Consolidates Above Key Highs, EMAs Offer Strong Support

Solana’s bullish momentum continues as the cryptocurrency holds above critical resistance-turned-support levels. The April breakout from a descending channel has given way to a tight consolidation range, signaling potential for a significant upward move.

Technical indicators show promise, with exponential moving averages providing dynamic support beneath the current price. Market observers note the 4-hour chart reveals particularly strong support at former highs, suggesting the foundation exists for another leg up.