Trading Desk Insights
Bitcoin is trading around $118,500 after briefly moving above $120,000. The recent dip swept liquidity near $117,500, with additional support seen around $113,000. Over $500 million in crypto liquidations have occurred across the market as traders reposition around current price levels.
Ethereum remains above $3,600 after pulling back from $3,860. Spot ETH ETFs have extended their inflow streak to 13 consecutive sessions, with $533 million added in a single day. Total inflows have now surpassed $8.3 billion, with ETF holdings representing over 4% of ETH’s supply. SharpLink Gaming recently increased its holdings to 360,807 ETH, overtaking BitMine as the largest public holder.
DeFi Development Corp increased its treasury to nearly one million SOL, while the SSK Solana staking ETF crossed $100 million in assets within two weeks of launch. Price remains supported above $185, with key resistance levels at $210 and $240.
Goldman Sachs and BNY Mellon are introducing tokenized money market funds designed to offer institutional clients 24/7 settlement and blockchain-based ownership tracking. Backed by low-risk assets such as U.S. Treasurys, these funds aim to enhance efficiency and transparency in capital markets.
U.S. initial jobless claims came in lower than expected at 217K vs. the 227K forecast, showing modest labor market strength. Flash PMI prints are still pending and could provide further insight into the health of the U.S. economy.
The News Room
Goldman Sachs and BNY Mellon to offer tokenized money market funds
Goldman Sachs and BNY Mellon are launching tokenized money market funds that provide institutional clients with 24/7 settlement and blockchain-based ownership tracking. Backed by low-risk assets like U.S. Treasurys, these funds aim to improve efficiency and transparency across capital markets. The move highlights growing interest in tokenization as institutions explore blockchain for modernizing traditional financial products.
MoonPay launches Solana staking as demand for onchain yield accelerates
MoonPay has introduced liquid staking for Solana, offering users an 8.49 percent annual yield and flexible access through a token called mpSOL. The launch comes as staking interest on Solana hits new highs, driven by major ETF inflows and treasury buys from firms like DeFi Dev and Upexi. This move positions MoonPay to compete with Solana-native protocols and reflects rising investor appetite for yield-bearing digital assets.
Block joins S&P 500, expanding Bitcoin exposure in traditional markets
Block has been added to the S&P 500, becoming the third company in the index with significant Bitcoin holdings. The firm owns 8,584 BTC, worth around $1 billion, signaling deeper Bitcoin exposure for equity investors. Its inclusion follows strong price gains and reflects growing recognition of crypto assets within major financial benchmarks.
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Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
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