Solana Memecoin Scam: High-Profile Instagram Accounts Hijacked for Fraudulent Promotion
In a shocking turn of events, hackers have compromised several high-profile Instagram accounts, including those of Michael Jackson, Adele, Tyla, and Future, to promote a fraudulent Solana-based memecoin. The scam involved posts featuring Future holding a coin branded FREEBANDZ—his label's name—creating a false impression of endorsement. The token briefly surged to a $900,000 market cap before collapsing to $15,000 within just 30 minutes. On-chain data suggests a coordinated scam, raising concerns about the security and credibility of memecoins on the Solana blockchain. This incident underscores the need for increased vigilance and regulatory oversight in the rapidly evolving cryptocurrency space.
Celebrity Instagram Accounts Hijacked to Promote Fraudulent Solana Memecoin
Hackers compromised high-profile Instagram accounts, including those of Michael Jackson, Adele, Tyla, and Future, to push a dubious Solana-based memecoin. The posts featured Future holding a coin branded FREEBANDZ—his label's name—creating a false impression of endorsement. The token briefly surged to a $900,000 market cap before collapsing to $15,000 within 30 minutes.
On-chain data suggests a coordinated scam, though no statements have been issued by the affected parties. This follows recent controversy around Kanye West's YZY token, highlighting recurring security risks in celebrity-linked crypto promotions.
Solana and Remittix Emerge as Standout Performers in Crypto Market Rally
Solana's price trajectory is drawing significant attention as analysts project a potential surge to $300 by year-end. The Wyckoff indicator suggests a breakout above $280 before December, bolstered by increasing institutional demand and a recent $500 million USDC minting by Circle. Market sentiment remains bullish, fueled by anticipation of a US spot ETF approval and Solana's expanding DeFi ecosystem.
Meanwhile, Remittix is capturing market interest with predictions of a 60x return this year. As altcoin volatility rises, investors are weighing Solana's steady institutional appeal against Remittix's high-growth potential. Both assets reflect the divergent strategies emerging in the current crypto rally—established networks versus high-risk, high-reward opportunities.
Solana Surges 13% as Whales Accumulate and Buybacks Spike
Solana (SOL) rallied 13% to break through the $200 resistance level, fueled by whale accumulation and a 158% surge in protocol buybacks. The next critical test lies at its all-time high NEAR $295, with on-chain data suggesting sustained bullish momentum.
CryptoQuant's futures data reveals large investors are steadily increasing positions, mirroring the pattern seen during SOL's rebound from $150 earlier this month. Unlike retail-driven pumps, this whale activity typically signals longer-lasting trends.
Solana-based projects now account for 40% of all crypto project buybacks, up from just 11% in June. Weekly token repurchases have jumped from $14.5 million to $46.8 million in two weeks, creating fundamental support for the price surge.
ULTILAND Partners with Fableration to Integrate AI Publishing with Cultural RWAs on Solana
ULTILAND, a Web3 platform specializing in creative and art-related real-world assets (RWAs), has forged a strategic alliance with Fableration, an AI-driven publishing platform built on Solana. The collaboration aims to revolutionize content monetization by ensuring equitable compensation for writers while delivering affordable, engaging literature to readers.
The partnership merges ULTILAND's cultural RWA ecosystem with Fableration's AI-powered distribution capabilities, creating a novel pipeline for publishing creative works as tokenized assets. This convergence of art, literature, and blockchain technology marks a significant leap in Web3 adoption for cultural industries.
Both companies emphasize enhanced user experiences through this integration. Fableration will leverage its Solana-based infrastructure to publish and distribute RWA-backed creative content from ULTILAND's network of artists and writers.
Solana Tests Key Resistance Amid 8.1% Weekly Surge
Solana's SOL token has rallied 8.1% this week, pushing its price to $208 with daily trading volumes exceeding $6.67 billion. The asset, now ranked sixth by market capitalization at $112.5 billion, is testing a critical resistance level at $210—a zone where it has faced rejection three times in recent weeks.
Technical indicators suggest bullish momentum remains intact. The RSI at 67 signals strong buying pressure without entering overbought territory, while the MACD histogram continues to widen positively. Long lower wicks near $187 indicate persistent demand at dip levels, reinforcing the ascending trendline support dating back to July.
Market participants are divided on whether the triple-top pattern at $210 signals exhaustion or a potential breakout catalyst. With 540 million SOL tokens in circulation, the next price action could determine Solana's medium-term trajectory in a market increasingly focused on layer-1 blockchain performance.
Solana Whales Fuel Rally as Open Interest Hits Record $12.9 Billion
Solana surged to a seven-month high of $211 before settling at $209, marking 16.9% monthly gains as whale activity intensified. A notable entity moved 20,000 SOL ($4.09 million) from Kraken to Kamino, borrowing $3 million USDC for Leveraged DeFi positioning—a bullish signal for directional bets.
Futures markets saw aggressive whale participation, with CryptoQuant data showing four consecutive days of outsized orders. Open Interest spiked 5.14% to an all-time high of $12.9 billion, reflecting heavy capital inflows. While profit-taking looms as a near-term risk, the derivatives frenzy suggests institutional conviction in SOL's rally extending toward $223 by month-end.
