Solana Ventures Denies $200M Deal with Mercurity Fintech Amid Confusion

In a surprising turn of events, Nasdaq-listed Mercurity Fintech announced a $200 million Equity Line of Credit Agreement with Solana Ventures, only for the latter to swiftly deny any involvement. The deal, which was purportedly aimed at launching a Solana-based treasury strategy, has sparked confusion in the cryptocurrency community. Solana Ventures clarified its position via an X post, stating, "Solana Ventures is not affiliated or involved with any equity line of credit agreements with any publicly listed companies." This incident highlights the importance of verifying announcements in the fast-moving crypto space, especially when they involve high-profile partnerships and significant financial commitments. As of July 23, 2025, the situation remains unresolved, with Mercurity Fintech yet to provide further clarification. The crypto community will be watching closely for any updates, as this could have implications for both Solana's ecosystem and investor confidence in blockchain-related financial ventures.

Mercurity Fintech's $200M Solana Ventures Deal Debunked by Solana

Nasdaq-listed Mercurity Fintech sparked confusion with its announcement of a $200 million Equity Line of Credit Agreement with solana Ventures. The deal, purportedly aimed at launching a Solana-based treasury strategy, was swiftly denied by Solana Ventures via an X post. "Solana Ventures is not affiliated or involved with any equity line of credit agreements with any publicly listed companies," the firm stated.

Mercurity's claims included SOL accumulation, staking operations, and investments in Solana-based projects. However, industry reports suggest the agreement might involve a similarly named entity, not the legitimate Solana Ventures. The incident highlights the risks of misrepresentation in crypto partnerships.

Solana Traders Grapple with Uncertainty Amid Rally

Solana's recent surge to $198.43—levels last seen in February—has reignited trader interest, but on-chain metrics reveal deepening ambivalence. Glassnode's NUPL data places SOL in the "Optimism-Anxiety" zone, where holders nurse modest profits but lack conviction about sustainability. The altcoin now teeters NEAR the pivotal $206 resistance level, a threshold that could trigger breakout momentum or profit-taking reversals.

Market behavior reflects this tension. While some accumulate positions anticipating upward resolution, others quietly offload holdings—a dynamic visible in diverging on-chain and price action signals. The rally's staying power hinges on whether SOL can convert its 7-day double-digit gains into a decisive technical breakout, or succumb to the gravitational pull of trader skepticism.

Solana Clinches 5-Month High, Where to From Here?

Solana surged to a five-month peak as open interest climbed, signaling renewed investor confidence. The rally comes despite macroeconomic uncertainties and conflicting technical indicators that suggest a choppy path ahead.

Market participants are weighing Solana's strong on-chain activity against broader crypto market headwinds. The network's performance during this period highlights its resilience amid fluctuating sector-wide sentiment.

Solana DeFi TVL Surpasses $14 Billion Amid Price Rally

Solana's native token SOL surged to $195.50, pushing its market capitalization above $105 billion for the first time since January. The rally reflects renewed Optimism in the ecosystem, though questions linger about the sustainability of this recovery.

Total value locked in Solana's decentralized finance protocols reached $14.18 billion, matching levels last seen during January's peak. Price appreciation accounts for much of this growth, as existing locked tokens gain value without significant new deposits. The ecosystem appears larger, but organic usage growth may be trailing headline figures.

Decentralized exchange activity shows promising momentum, with $22 billion in weekly volume across platforms like Raydium ($8.4B), Orca ($6B), and Meteora ($5.3B). Trading activity has increased from $19 billion the previous week, signaling returning trader interest despite volumes remaining below historic highs.

Crypto Influencer Exposed for $11M ALT Token Dump After Promotion

Blockchain investigator ZachXBT has uncovered an alleged $11 million token dump orchestrated by crypto influencer 'Crypto Beast.' The scheme involved 45 connected wallets selling ALT tokens on July 14, 2025, crashing the token's market cap from $190 million to $3 million in minutes.

Funding traces through instant exchanges led to a single Celestia address linked to Crypto Beast's known wallet. The influencer aggressively promoted the Solana-based ALT token before the dump, deleting all promotional posts post-collapse.

Retail investors were wiped out as ALT plummeted from $0.19 to $0.003 during the coordinated sell-off. The incident highlights ongoing concerns about influencer accountability in cryptocurrency markets.