Ether, Solana, Dogecoin Prices Drop as Investor Plans to Sell Bitcoin

June 30, 2026

Ether, Solana, and Dogecoin faced a decline recently due to Strategy, the largest corporate holder of Bitcoin, planning to sell over a billion dollars of the cryptocurrency. This move is a significant departure from founder Michael Saylor’s previous stance against selling Bitcoin. The crypto market was already under stress, and this announcement added further pressure, indicating soft on-chain demand.

Data from Glassnode revealed that the number of active addresses, which is a measure of user transactions, remained steady at around 618,000, showing stability without any significant growth. The value of coins moving across the network stood at approximately $4.2 billion, slightly above the lower end of its usual range. There was a decrease in total transaction fees, indicating limited competition for block space. The market dynamics were influenced by factors such as a robust dollar, a lack of new demand, and potential effects from global currency movements were also being closely monitored.

Ether (ETH) showed a marginal rise of 0.21%, while Solana (SOL) saw an increase of 1.19%. Conversely, Bitcoin (BTC) saw a decrease of 0.74% and Dogecoin (DOGE) experienced a decline of 1.69%. This scenario underscores the volatility and unpredictable nature of the cryptocurrency market.

It is worth noting that the information provided in this update by Phemex News serves solely for informational purposes and should not be taken as financial or investment advice. It is always recommended to conduct personal research and seek professional consultation before making any financial decisions in the volatile crypto market landscape.