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SOL price outlook as three Solana platform announce shut down after Step Finance hack
- Step Finance, SolanaFloor, and Remora Markets halt operations after hack.
- STEP token collapses, while Remora tokens remain redeemable.
- SOL breaks key $77 support as bearish trend dominates amid high volatility.
Step Finance, a leading DeFi aggregator and portfolio dashboard on Solana, has announced an immediate shutdown following a major security breach.
The Step Finance hack reportedly drained over 260,000 SOL from the platform’s treasury, leaving the project unable to recover financially.
Alongside Step Finance, two affiliated platforms, SolanaFloor and Remora Markets, are also winding down operations.
Today we are announcing that Step Finance, SolanaFloor, and Remora Markets will be winding down all operations.
Following the hack at the end of January we explored every possible path forward, including financing and acquisition opportunities.
Unfortunately, we were unable to…
— Step☀️ (@StepFinance_) February 23, 2026
Market reaction
The news has sent shockwaves through the Solana community.
Token holders are reeling from the impact, particularly STEP token investors, whose asset has collapsed nearly 100% since the breach.
Remora Markets’ token holders, however, may be able to redeem their rTokens for USDC, as these assets remain fully backed.
Step Finance has also announced plans for a buyback program for eligible STEP holders based on a pre-hack snapshot.
The shutdown highlights the fragility of some projects in the Solana DeFi ecosystem.
It also underscores the broader risk of centralised treasury management, even within decentralised finance platforms.
Solana price reaction
The price of Solana (SOL) has shown noticeable weakness in the wake of these developments.
Over the past 24 hours, SOL has dropped below $77, a level that had previously served as key support.
Despite this, Solana’s trading volumes remain robust, reflecting heightened activity as investors reassess positions.
Derivatives data indicate growing bearish sentiment with rising long liquidations and a long-to-short ratio falling below 1, suggesting that shorts currently dominate the market.
Funding rates in futures markets have also turned negative, reinforcing the downward pressure on SOL.
In addition, institutional players appear to be taking a measured approach, as US spot SOL ETFs see modest inflows.
This accumulation hints that some investors see the recent dip as a potential buying opportunity, even amid broader uncertainty.
SOL price forecast
While some institutional support exists, SOL faces immediate technical hurdles and key levels that could determine its next direction.
SOL’s technical indicators signal a cautious outlook.
Notably, the cryptocurrency is trading below both its 50-day and 200-day EMAs, signalling a bearish trend, and the Relative Strength Index (RSI) is near oversold levels, suggesting momentum is heavily skewed toward sellers.
As a result, traders should watch the $75 mark closely as it represents a critical support level.
If this level fails to hold, SOL could see further downside toward the $63-51 range, according to Coinlore’s analysis.
On the upside, a rebound would need to overcome resistance near $91, with a more significant recovery targeting $102.
Short-term volatility is, however, likely to remain high given the recent ecosystem shocks, and investors should pay attention to both price action and on-chain metrics to gauge the resilience of SOL amid these challenges.
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Bitmine-Verlust bei 8,8 Mrd. US-Dollar: Ether Rückgang wird Herausforderung
Die zunehmenden nicht realisierten Verluste der Bitmine-Aktionäre und der Rückgang von Ether um 60 % deuten laut Analysten auf einen kritischen Wendepunkt hin, der die mittelfristige Dynamik von Ether bestimmen könnte.
Bitcoin Cash extends losses, dumps 10% amid BTC sell-off
- Bitcoin Cash price dropped more than 10% as bears hit the crypto market on Tuesday.
- The altcoin fell to lows of $481 and risked further losses amid Bitcoin weakness.
- Analysts say demand recovery could help bulls bounce.
Bitcoin Cash price has extended its downward trajectory, shedding more than 10% in value over the past 24 hours to touch lows of $481 in early trading on February 24, 2025.
The declines come as bearish sentiment grips the broader cryptocurrency market, with top coins plunging alongside Bitcoin’s fall below $63,000.
While some analysts note that the market could see a potential for a short-term recovery, prevailing headwinds favour sellers.
Other altcoins, including Ethereum, XRP, and BNB, have also marked steep declines as negative sentiment dominates.
BCH drops amid macro and geopolitical headwinds
Fresh tariff threats from US President Donald Trump, following a recent Supreme Court ruling on Trump’s 2025 tariffs, have triggered risk-off sentiment.
This has been compounded by other factors, including geopolitical uncertainty, which has prompted investors to seek safer assets and steer clear of volatile cryptocurrencies.
Weak sentiment has, in turn, suppressed crypto bids and contributed to huge outflows from digital asset investment products.
Tightening liquidity and elevated liquidations have further weighed on risk appetite, capping Bitcoin’s rebound.
The dump to lows of $62,700 for BTC accelerated losses for Bitcoin Cash amid this outlook, with bears showing greater appetite as daily volume jumped 46% to over $545 million.
Analysts say the macroeconomic picture and potential escalation in US-Iran tensions could cue further losses.
However, resolutions in favour of bulls will help cut the impact of the correction.
Bitcoin Cash price analysis
As noted, Bitcoin Cash traded as low as $481 on February 24, slipping by double digits in 24 hours as sellers pulled prices from highs of $570.
The fresh selling that has driven BCH below $500 aligns with technical indicators that paint a mostly bearish picture.
Bitcoin Cash’s recent declines have pushed the 50-day moving average toward the 200-day moving average, outlining a possible death cross pattern.
Increased losses and confirmation will come with intensified bearish momentum.
Meanwhile, the RSI and MACD indicators are also slipping lower, signaling bearish control.
According to CryptoQuant, Bitcoin’s slide from near $68k to under $63k coincides with the Coinbase Premium Index (SMA 30) rejecting downward.
The index gauges price premium on Coinbase versus global exchanges, and its downtrend for over a month suggests US selling pressure remains.
Failure to recover in the latest sessions highlights continued institutional hesitation.
Analysts at Bitfinex also share a similar outlook.
$BTC can bounce on positioning, but it rallies on spot demand.
CVD implies roughly $2.5B of net market sells since Feb 20 across centralised exchanges. That is not “one bad actor”, it is broad distribution.
Until that slows, breakouts often fade. pic.twitter.com/sR3vfvaZVi
— Bitfinex (@bitfinex) February 24, 2026
If Bitcoin drops to $50k or lower, a cascade of sell-off pressure will exacerbate BCH’s losses.
In the short term, BCH faces continued selling toward $425 and possibly $378.
On the upside, initial resistance is at the $500 mark, and then the moving average levels.
Currently, the 50-day and 200-day MA are converging near $560-$566.
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LINK price rebounds as SEC taps former LINK lawyer to head crypto task force
- SEC hires ex-Chainlink lawyer Taylor Lindman to head Crypto Task Force counsel.
- LINK rebounds near $8 but is still down about 51% over the past year.
- Chainlink (LINK) price analysis shows support at $6.80 and resistance near $8.19.
Chainlink (LINK) has rebounded slightly, though it is still in the red as the US SEC taps Chainlink’s veteran Taylor Lindman to head the Crypto Task Force counsel.
At press time, LINK was currently trading at around $8.18, recovering slightly from a low of $8.13. This rebound comes amid broader market volatility that has seen LINK fall roughly 51% over the past year.
SEC taps Chainlink veteran for crypto regulation
The US Securities and Exchange Commission (SEC) has appointed Taylor Lindman, formerly a senior legal officer at Chainlink Labs, as chief counsel for its Crypto Task Force.
Lindman brings over five years of experience in blockchain and regulatory compliance.
He played a key role in advising Chainlink on legal matters and navigating complex digital asset regulations before his departure in February 2023.
Lindman’s move to the SEC signals that regulators are increasingly interested in professionals with hands-on experience in decentralised finance (DeFi) and smart contract ecosystems.
SEC Commissioner Hester Peirce, who leads the Crypto Task Force, welcomed Lindman’s appointment.
Analysts suggest that Lindman’s expertise could influence future guidance and enforcement actions around digital assets.
LINK price performance
The market appeared to respond positively with institutional investors, including firms like Grayscale, steadily accumulating LINK tokens.
The continued institutional interest, combined with Lindman’s transition to the SEC, has reignited confidence in Chainlink’s long-term positioning.
Short-term technical indicators show that LINK recently found support at around $6.80, while the resistance at $8.19 has limited upward movement in the past.
The rebound above $8 could open the door for higher price action, while a fall below $6.80 might signal further downside risk.
Short-term LINK price prediction
With regulatory developments and institutional interest converging, LINK is drawing attention from both traders and long-term investors.
Its price movement over the next few weeks will likely reflect a mix of market sentiment, technical pressure, and evolving regulatory signals.
For short-term traders, analysts have highligted $6.80 as the immediate key short-term support level to watch. Holding above this level would suggest that the market is stabilising after recent volatility.
If LINK can break through the $8.19 resistance, the next target would be $9.51.
A sustained move above $10.80 could indicate stronger bullish momentum, attracting further buying interest.
On the downside, if the $6.80 support fails, traders should monitor the $5.38 zone as a potential safety net.
Price action around these levels will be critical in defining LINK’s short-term trend.
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