Solana To $1,000? Here’s What Happens Next!

Not long ago, Solana was crypto’s golden child. The memecoin casino was in full swing, the Phantom wallet was seeing more downloads than the Coinbase app and there was even talk that Ethereum’s days as the top smart contract chain were numbered. And then things turned sour.

As the crypto market went into a severe downturn, Solana was one of the hardest hit. With memecoins suddenly recast as embodying everything wrong with the crypto space, the casino emptied out and many began to question whether Solana was cooked without its degenerate meme trench warriors.

But, this is crypto folks, and fortunes change with the wind. With the market now in ‘we’re so back’ mode, SOL is pumping, big updates are in the offing and the future is bright once again. So, can Solana shake off its past associations and achieve its full potential? In today’s video, we aim to find out.

We examine all the big developments coming down the pipe (some of which many have forgotten about) that could send SOL skywards. We look at the use cases beyond memes that Solana’s developers are targeting and, because we’re always objective in our analysis, we examine the challenges that still face the project. Has SOL peaked for this cycle, or is it just getting warmed up?

You can watch that video here.

📈 Crypto Market Forecast 📈

It should be clear by now that the one macro factor that can make or break the crypto market is the certainty/uncertainty around Trump’s tariffs, respectively. Last week’s rally was caused by positive developments around tariffs, such as the US dropping restrictions on chip exports, negotiating with China, and signing a trade deal with the UK.

If this trend towards certainty continues, then we can expect to see continued positive price action in the crypto market. In case you forgot, there is a deadline for all this good news to happen by, and that’s July 8th, the final day of Trump’s 90-day tariff ‘pause’ announced in early April. Notably, the Trump admin has noted that there won’t be any extensions to this date.

If they stay true to their word, this means that July 8th could cause ‘Liberation Day’ levels of volatility in the markets. Thankfully, this won’t be an issue in the immediate term, and there are many macro catalysts that could push the markets higher, besides positive developments around tariffs. The first of these is the CPI for April, which comes out this Wednesday.

As you will know, the previous CPI print came in lower than expected, and chances are that the next one will too. That’s simply because oil prices collapsed in April thanks to the increase in production from OPEC. Some of you might recall that the previous drop in inflation had zero impact on the markets, and it’s possible that we’ll see the same again.

The catch is that the last cooldown in CPI came at a time when there was still extreme uncertainty in the markets around tariffs (early April). This time around, there’s not only more certainty, but a chance that we’ll get positive news around tariffs around the same time the CPI comes out. A good CPI print could therefore supercharge an existing rally, if it happens.

In turn, a more bullish macro backdrop means that crypto-specific catalysts will start to matter more. One catalyst that everyone seems to have forgotten about are updates about the Strategic Bitcoin Reserve and Digital Asset Stockpile. If you’ve been keeping up with our weekly livestreams, you’ll know that these were supposed to be announced early last week.

Specifically, the Trump admin was supposed to reveal exactly how BTC will go into the Strategic Bitcoin Reserve, and which altcoins will be included in the Digital Asset Stockpile. Some of you might recall that, prior to the executive order, Trump had posted saying that ADA, SOL, and XRP will be included in the reserve, so these cryptos could get a boost when it’s made official.

Another catalyst that everyone seems to have missed came from the SEC late last week, and that was the announcement that the regulator is basically considering giving a free pass to altcoins. Specifically, the SEC said they could implement:

“a potential exemptive order that would allow firms to use DLT to issue, trade, and settle securities. This conditional exemption from certain SEC registration requirements and associated rules would allow firms to use innovative trading systems for eligible tokenized securities.”

Translation: there could be no restrictions on tokenized RWAs.

To refresh your memory, BlackRock had asked the SEC to do something along these lines way back in January. It looks like the regulator is finally getting around to it, and it could have profound effects on the crypto market beyond tokenized RWAs. Consider that most altcoins are technically securities and stablecoins are technically tokenized RWAs. They could be let off scot free, so to speak.

More importantly, the SEC’s announcement specified that DeFi protocols would not be subject to SEC regulation. The result could therefore be extreme speculation and experimentation around on-chain activities, most notably airdrops. As we’ve noted in videos on the main channel, we could start to see wallets airdropping tokens as a means of attracting users.

The caveat is that crypto regulations are starting to face hurdles in Congress as a result of Trump’s crypto ties. Believe it or not, but this could be a blessing in disguise. That’s because these crypto regulations would introduce more restrictions than we’re seeing now. In other words, it’s better to have a special ‘exemptive order’ from the SEC than official crypto regulations.

This will effectively create a legalized Wild West in crypto. If this does indeed come to pass, make the most of it while you can…

😱 Movement Drama 😱

Remember that Spiderman meme with everyone pointing fingers at each other?

Well, that’s exactly what’s going on over at Movement Labs, the development firm behind the Movement layer 1 chain. It’s an absolute trainwreck of a situation. Everyone involved is crying innocent and shifting blame.

For those who’ve thus far avoided this dismal saga, we’re talking about a recent scandal that resulted in Binance "offboarding" and banning a market maker that was responsible for selling 66 million MOVE coins a day after MOVE was listed for trading on the platform.

For context, market makers are tasked with maintaining liquidity for the trading of tokens on crypto exchanges. In other words, they allow trades to happen without big delays or price swings. For this purpose, market makers are loaned a fixed allocation of coins/tokens and/or stablecoins from the project team. They typically use these funds to place equally-weighted bid and ask orders. Note that this process is a two-sided exercise.

The market maker offboarded by Binance however reportedly engaged in one-sided market-making activity, which is widely considered illegal and a form of market manipulation. Binance claimed the market maker’s one-sided activity netted it $38 million in profits, while triggering a steep price drop for MOVE.

While Movement Labs initially claimed they had “absolutely no knowledge that this was happening,” an exposé recently published by CoinDesk seems to reveal internal corruption and shady dealings. While there’s no clear picture yet of what exactly happened, the CoinDesk report brings us one step closer to the truth. We highly recommend you read CoinDesk’s article for an in-depth understanding of their findings.

In the meantime, we want to give you a quick highlight of their most controversial and notable findings. To do that, we’re splitting this highlight into two: facts and stories.

The facts are statements of occurrences that we know to be true. The stories are the narratives put forth by the parties involved to explain this sequence of occurrences.

The facts are: there are three key parties involved in this scandal - Rentech, Movement Labs, and the Movement Foundation. Rentech was the market maker behind the 66 million MOVE dump on Binance. A person named Galen Law-Kun was reported by CoinDesk to be the owner of Rentech. This is an important fact for later.

Documents sourced by CoinDesk show that Rentech’s contract with Movement allowed it to borrow up to 5% of MOVE’s total supply (nearly half of MOVE’s circulating supply at the time). This granted Rentech an unusually large degree of control over the coin’s price action. Notably, an earlier draft version of the contract also contained a clause which allowed Rentech to share 50% of all profits from sales of MOVE loaned, as long as the fully diluted valuation of the project was above $5B at the time of the sale. This clause seemed to basically incentivise Rentech to manipulate the price to over $5 billion FDV and then dump on retail for shared profit.

While this clause was modified in the final signed version of the contract to reflect as payment of “variable interest,” Movement Foundation counsel YK Pek (wassielawyer) notes that it essentially had similar commercial terms. The difference being that the Foundation was first in the payment waterfall, supposedly solving the incentive misalignment with the market maker.

That said, documents sourced by CoinDesk also showed Rentech appearing in agreements on both sides of a deal with the Movement Foundation — once as an agent of the Movement Foundation and once as a Web3Port subsidiary. This seems to reveal Rentech as some sort of middle man between Movement and the actual market maker (Web3Port).

CoinDesk also contends that Movement Labs may have had a third “shadow co-founder” besides known founders Rushi Manche and Cooper Scanlon. It suggests Sam Thapaliya, the founder of crypto protocol Zebec, was this third shadow co-founder. However, Thapaliya claims to be an outside adviser to Manche and Scanlon, with no stake in Movement’s equity or coins.

Conversely, Telegram screenshots reviewed by CoinDesk show that Scanlon commissioned Thapaliya to help curate MOVE’s airdrop whitelist. Thapaliya was also CC'd alongside Rentech and Manche in an email from Web3Port to "Movement Team" and other communications regarding the market-making arrangement reviewed by CoinDesk. Most notably, Galen Law-Kun (Rentec’s owner) was also Thapaliya’s business partner. Given all these facts, there’s a possibility that Thapaliya may have a deeper involvement in the inner workings of Movement than otherwise portrayed.

Now for the narratives. On one hand, the Movement Foundation and Labs have claimed the primary culprit behind this whole scandal is likely co-founder Rushi Manche – who has since been ‘terminated’ from the firm. They claim the Foundation was not aware of Rentech’s status as a middleman and were instead misled into believing Rentech was a subsidiary of Web3Port.

On the other hand, Rentech and Manche seem to claim all parties involved were completely in the know about Rentech’s status. In fact, Rentech appears to make claims that YK Pek helped set up Rentech and was general counsel of Autonomy SG, which is the parent or affiliate company of Rentech. For context, Pek (on behalf of Movement Foundation) helped draft the final version of the market-making agreement between the Foundation and Rentech. Pek has denied Rentech’s claims in full. As for Manche, he appears to have leaked documents that suggest co-founder Cooper Scanlon was the first to initiate a relationship between “shadow co-founder” Thapaliya and Movement Labs.

While no one knows the real story yet, Movement Labs has commissioned an independent third party to conduct an investigation into the incident. They’ve also announced the launch of Move Industries – a new entity that will supposedly be in charge of the Movement ecosystem moving forward. If you ask us, this is just theatrics to distract investors from the negative attention and drama going on in the background.

Regardless, it’s rocky days ahead for the Movement ecosystem. In all honesty, we wouldn’t be surprised if this ended up becoming a crypto crime documentary on Netflix. If you have exposure, (as Coin Bureau does, having been early investors in MOVE🤦) remember to exercise risk management folks.

🔥 Hot Deal Of The Week 🔥

Can we possible smell altseason?! Now might be a good idea to evaluate your altcoin portfolio in case we begin exploding in the coming week.

And, if you are looking for some of the best altcoin alpha, then you have to check out the Coin Bureau Club!

Over there you’ll get access to:

* Exclusive small and mid cap vids that we cannot post on the main channel!
* Vote on what alts we cover
* Access our researchers thoughts in our research feed
* Get our team’s personal portfolios
* Access exclusive deals
* Get into our exclusive Discord packed with alpha!

👉 Join the Coin Bureau Club now!

🔮 Video Pipeline 🔮

* Ethereum Foundation Shakeup: Our predictions for ETH 2025!
* US China Trade War: What’s likely to happen?
* Phantom: Our ultimate guide to getting started!
* Bitcoin Fork: What’s it all about?
* Crypto For Beginners: Everything explained!

🏆 What's New at CoinBureau.com This Week? 🏆

* Discover the Best Trading Platforms on Solana!
* Reviewing Gridplus Lattice1: Advanced Security Without the Headaches
* Top Binance Alternatives for Crypto Trading in 2025
* Hardware Wallets And Software Wallets Compared: Pros, Cons, and Use Cases

📖 Quote of the Week 📖

Congratulations on holding all the way back to $100K. Now the hodl to $150K will be a lot easier.

“Difficulties strengthen the mind, as labour does the body.” - Seneca

Team Coin Bureau

Disclosure: Authors may own cryptoassets named in this newsletter. These are unqualified opinions, and a Coin Bureau newsletter, is meant for informational purposes only. It is not meant to serve as investment advice. Please consult with your investment, tax, or legal advisor.