Solana Enhances Privacy with Confidential Balances for Token Transfers
Solana Labs and Helius Labs have unveiled Confidential Balances, a groundbreaking feature designed to enable private token transfers while maintaining compliance for institutional users. Announced on April 8, 2025, this development marks a significant step forward in Solana’s evolution as a leading blockchain for both consumer and enterprise applications. The introduction of these cryptographic token extensions underscores Solana’s commitment to innovation and privacy in the decentralized finance space.
Solana Rolls Out Confidential Balances For Private Token Transfers
Solana Labs and Helius Labs have introduced Confidential Balances, a suite of cryptographically powered token extensions that enable private token transfers without sacrificing institutional compliance. Announced on April 8, this new feature set aims to bolster Solana’s reputation as a hub for both innovative consumer-facing applications and enterprise-level use cases. Helius, the Solana infrastructure provider behind these developments, released a blog post explaining that Confidential Balances is an expanded form of what was originally referred to as “Confidential Transfers” under the Token2022 program.
Solana Whale Moves 71K SOL to Binance, Raises Short-Term Correction Concerns
A large Solana [SOL] whale has sparked fresh speculation after unstaking and depositing 71,448 SOL—worth approximately $8.54 million—to Binance. This move comes amid growing concerns about increased sell pressure from major holders across the Solana network. At press time, SOL was trading at $107.32, reflecting a 1.08% decline in the past 24 hours. In addition, more than 149,000 SOL have been offloaded by other large holders over the last 24 hours. Despite this notable withdrawal, the same whale still holds 568,000 SOL. Technical indicators hint at a potential recovery, but weak sentiment and low social buzz are keeping traders cautious.
Solana (SOL) Rebounds but Selling Pressure Remains
Solana (SOL) has rebounded by 12%, but key indicators like the RSI, BBTrend, and EMA lines suggest weakening momentum and a lack of buyer conviction. The RSI is currently at 45.52, indicating neutral territory, but it remains below the midline of 50. While oversold conditions have stabilized, the broader market structure still leans slightly towards sellers.
Magic Eden acquires Slingshot to expand beyond NFTs
Magic Eden, a Solana non-fungible token (NFT) marketplace, has acquired crypto trading app Slingshot as part of a strategy to expand beyond NFTs amid a prolonged market downturn. The move expands Magic Eden’s support to more than 8 million tokens across almost every major blockchain. Slingshot has amassed nearly 1 million users to date, allowing users to access any token on 10 of the largest blockchains with a universal USDC balance. This acquisition is another major step towards Magic Eden’s vision of providing the best platform to trade all assets on all chains.
Solana (SOL) Jumps But Hits $120 Resistance Wall
Solana started a fresh increase from the $100 support zone and is now consolidating. The SOL price gained pace above the $110 and $112 resistance levels and broke above a connecting bearish trend line with resistance at $107. However, it is now struggling to clear the $120 resistance zone. If SOL clears this zone, it could start a fresh increase. Solana price formed a base above the $100 support and gained over 10%.
Huma Finance 2.0 Launches on Solana
Huma Finance, the first PayFI Network, has announced the launch of Huma 2.0, a permissionless, compliant, and composable real-yield platform built on Solana. This development opens global access to Huma’s stable real yield from global payment financing related to everyday commerce and trade activities. By leveraging payment-financing mechanisms, it broadens individual access to stable, real-world yield, historically more common in institutional finance. Simultaneously, the existing permissioned service has been rebranded as Huma Institutional to continue serving institutions and accredited investors. Users can begin depositing on the new Huma 2.0 platform immediately, which offers alternative ways to participate as liquidity providers.
