Solana

Former BitMEX CEO Arthur Hayes cautioned that Monad, a newly launched layer-1 blockchain, may experience a decline of up to 99% due to its high fully diluted valuation and low circulating float. Hayes classified Monad as a VC-backed token vulnerable to liquidity pressure once insider allocations unlock.

CoinShares has withdrawn all pending spot cryptocurrency ETF applications in the United States, including products tracking XRP, Solana, and Litecoin. The decision follows strong institutional demand, with XRP ETFs attracting over $660 million and Solana ETFs drawing approximately $620 million in net inflows since launch. CEO Jean-Marie Mognetti cited limited differentiation potential and constrained profit margins as the U.S. crypto ETP market consolidates around major institutions.

South Korea's National Police Agency has opened an investigation into unauthorized withdrawals of approximately $36.9 million in Solana network assets from Upbit, the country's largest cryptocurrency exchange. Authorities are examining possible links to North Korea's Lazarus Group, a state-affiliated entity previously connected to multiple cryptocurrency thefts. Upbit has suspended all deposit and withdrawal services and moved remaining assets to cold storage.

CoinShares, which manages $10 billion in assets, has withdrawn SEC registration statements for three planned crypto ETFs covering XRP, Solana and Litecoin. CEO Jean-Marie Mognetti cited intense market saturation, with traditional finance giants now controlling over 90% of crypto ETF inflows. The firm will instead focus on developing thematic crypto baskets and actively managed strategies over the next 12 to 18 months.

Solana is testing resistance at $142 within a pennant formation after consolidating in recent sessions. Institutional interest has returned, with ETF inflows accelerating following the November 22 bounce from pennant support. Open Interest climbed 10% to $3.0 billion, while trading volume expanded by $7 billion over 24 hours to $48 billion, data show.

CoinShares has formally withdrawn its S-1 filing for a Solana staking exchange-traded fund in the United States, ending a process last updated in September. The withdrawal comes as the firm prepares for a merger with Vine Hill Capital ahead of a planned US listing. Solana currently trades at $137.83 with a market capitalization near $77.1 billion, while analysts project potential upside supported by transaction growth and $613 million in spot ETF inflows.

Solana's spot exchange-traded fund posted its first net outflow of $8.1 million on November 26, ending a 21-day consecutive inflow streak that began at launch on October 28, 2025. The streak surpassed both Bitcoin and Ethereum ETF launch records, which each achieved a maximum of 20 consecutive inflow days. Despite the pullback, total net assets remain near $918 million, while SOL price has recovered above $140 after declining to $125 earlier in November.

South Korean cryptocurrency exchange Upbit discovered a critical vulnerability in its wallet software while investigating a breach that resulted in approximately $30 million in losses. The flaw enabled the generation of predictable cryptographic signatures, theoretically allowing attackers to derive private keys through blockchain transaction analysis. The exchange has patched the vulnerability and committed to compensating all affected users from company reserves.

Solana captured 99% of tokenized equity trading volume in October, market data show. The network maintained over 95% market share from July through October. Solana trades near $142 with weekly gains above 12% and daily volume exceeding $4 billion.

South Korean cryptocurrency exchange Upbit disclosed unauthorized withdrawals on the Solana network affecting $36 million worth of digital assets. The breach involved 24 tokens including SOL and USDC. Parent company Dunamu pledged complete customer reimbursement and froze assets totaling approximately 2.3 billion KRW while temporarily suspending withdrawals for affected tokens.