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Raydium debuts LaunchLab for easy token creation and launch Raydium $RAY has launched LaunchLab, a platform designed to support token creation and project launches on Solana $SOL, according to its X account. The platform includes features such as on-chain token issuance,

3iQ launches $SOL staking ETF on TSX with Figment as staking provider Canadian digital asset manager 3iQ has launched the Solana Staking ETF (SOLQ) on the Toronto Stock Exchange (TSX), partnering with Figment as the primary staking provider. According to Business Wire, this

The situation regarding cryptocurrency ETF approvals in the United States appears to be shifting, as XRP may gain an advantage while Solana experiences a decline in its presence in the U.S. market. According to data from Kaiko Research , XRP’s share of spot trading volume on U.S. exchanges has risen to its highest level since before the SEC’s 2021 lawsuit, which had led to widespread delistings of the token. This recovery in the U.S. market activity comes at a critical time as incoming SEC Chair Paul Atkins prepares to take office following his Senate confirmation last week. Atkins, a former Commissioner, faces several deadlines for crypto-related ETF applications that could push digital asset decisions to the forefront of his agenda. Meanwhile, Solana has witnessed a steady decline in its U.S. market share, falling to 16%, a significant drop from the 25-30% range it maintained throughout 2022. This contrasting trajectory between XRP and SOL could prove consequential as the SEC evaluates pending ETF applications for both assets. Market depth metrics further strengthen XRP’s position relative to other altcoin contenders. XRP and SOL currently boast the highest average 1% market depth on Kaiko Indices vetted exchanges, with Cardano’s ADA placing third. Notably, XRP’s market depth has surged since late 2024, overtaking Sol and doubling ADA. Related: Canada’s SOL ETF Launches April 16: How Might Price Move April 15? XRP’s path to ETF approval differs from Bitcoin’s journey. While BTC’s approval was largely driven by Grayscale’s successful legal challenge, XRP lacks an active futures market. Additionally, its trading volume remains heavily concentrated offshore despite recent improvements in U.S. market share. However, the recent approval of a 2x leveraged XRP ETF from Teucrium may have created a precedent that benefits spot XRP ETF applications. Since this leveraged product relies on European ETPs and swap agreements to deliver twice the daily returns of XRP, it becomes increasingly difficult for regulators to argue that a spot product presents greater risks to investors. May 22 represents a critical date for the XRP ETF narrative, as the SEC must respond to Grayscale’s XRP spot filing by then. This deadline could provide the first major indication of how the new Atkins-led SEC will approach cryptocurrency ETF applications beyond Bitcoin and Ethereum.The changing competitive scene between XRP and SOL in U.S. markets comes as Canada prepares to launch the world’s first spot Solana ETFs. According to Bloomberg analyst Eric Balchunas, the Ontario Securities Commission has granted approval to several issuers, including Purpose, Evolve, CI, and 3iQ, to trade Solana ETFs. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

BNB Chain, the blockchain network supported by Binance, completed its 31st quarterly token burn using its established Auto-Burn mechanism. This latest event permanently removed 1.58 million BNB tokens, valued at roughly $916 million, from circulation. The BNB Foundation confirmed the exact number , destroying 1,579,207.716 BNB tokens. This burn continues the strategy to reduce BNB’s total supply; over 40.88 million BNB still need burning to reach the 100 million target from the current supply of approximately 139.31 million BNB. The Auto-Burn process itself is open and formulaic. The amount burned each quarter adjusts based on BNB’s price and the number of blocks produced on the Binance Smart Chain (BSC). Burned tokens are sent to a verified “blackhole” address (0x00…00dEaD), ensuring they are permanently destroyed and irrecoverable. Related: MEXC and BNB Chain Strengthen Ties to Empower Token Listings & Marketing Currently, the total supply of BNB stands at 139.31 million. The BNB Foundation has set a target to reduce the total supply to 100 million BNB tokens, advancing its commitment to controlling inflation within the network. This mechanism aims to manage inflation within the network and create a more efficient token economy, ideally supporting BNB’s long-term value stability. Despite the large dollar value of tokens destroyed, BNB’s price showed limited immediate reaction. BNB traded around $580.23 after the burn announcement (Apr 16), down 1.44% over 24 hours but still up 4.37 percent over the week. Related: BNB Chain Now Tops Solana in DEX Trading, Price Jumps While token burns lead to price increases due to reduced available supply, the impact on BNB’s market price has not been immediate. However, the long-term effects of these burns may help maintain the stability of the BNB ecosystem and its ongoing growth. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Solana's largest DEX, Raydium, has announced the launch of its token launch tool, LaunchLab, to counter the impact of Pump Fun and PumpSwap. 25% of the transaction fees generated by LaunchLab will be used to repurchase RAY. Previously, Pump Fun launched its own DEX, PumpSwap.