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Tag: Solana

  • Is Solana Facing an Existential Threat Like FTX Did?

    Is Solana Facing an Existential Threat Like FTX Did?

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    The Solana network has been grappling with a significant surge in transaction failures, with approximately three-quarters of all transactions experiencing issues amidst the frenzy of activity sparked by the recent meme coin craze.

    Market players believe that the current crisis is an “existential moment as big as the FTX collapse.”

    Solana’s Failed Transaction Climbs 75%

    According to the latest data from Dune Analytics on April 4, over 75% of “non-vote” Solana transactions failed, marking the highest negative rate recorded.

    This increase in transaction failures has been accompanied by a growing outcry from Solana users on social media platforms, who are expressing frustration over unsuccessful transactions and a decline in user experience.

    Popular pseudonymous trader Altcoin Sherpa maintained optimism about Solana’s potential as a network for retail adoption but acknowledged the current less-than-ideal user experience.

    Contrary to the widespread belief, in another April 4 post, Mert Mumtaz, a vocal proponent of Solana and the CEO of Helius, disputed the claim that 75% of transactions were failing, attributing the majority of unsuccessful non-vote transactions to “bot spam.”

    Mumtaz went on to liken these “failed” transactions to web2 operations to clarify their nature.

    According to the exec, many failures occur when the blockchain’s smart contract deems a request invalid due to reasons like permission issues or market fluctuations rather than faults with the blockchain itself. He argued that the real challenge isn’t Solana’s throughput but rather the overwhelming volume of spam transactions.

    Although transaction failures may not trouble every Solana user, these instances do impair the chain’s functionality and lead to frequent service outages, mirroring the network’s historical track record.

    Solana Crisis to FTX Collapse

    Spectra Cities’ founder, Ryan Rzepecki, also weighed in and highlighted the importance of different applications being able to operate seamlessly on the same chain and the significance of composability over sovereignty.

    Rzepecki further went on to stress the critical need for the smooth functioning of various activities, such as payments, governance, and other essential functions, without disruption from activities like meme coin trading and also drew a parallel between Solana’s current crisis and the FTX collapse, underscoring the magnitude of the challenge the Layer 1 network faces.

    “This is an existential moment as big as the FTX collapse. Sending positive vibes to all the smart developers working to fix this. To be clear, I am very confident these are solvable problems. But Solana is losing the confidence of users and major ecosystem partners every day things operate like this.”

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    Chayanika Deka

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  • Solana: Expert Analysis Points To Buying Opportunity

    Solana: Expert Analysis Points To Buying Opportunity

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    Solana (SOL), a prominent player in blockchain technology, finds itself at a crossroads. While crypto analyst Altcoin Sherpa remains bullish on its long-term potential, recent price drops and a surge in failed transactions raise concerns.

    Is Solana Poised For A Major Rally?

    Sherpa, known for simplifying complex investment strategies, suggests a buying range of $168-208 for SOL. He emphasizes a long-term approach, advocating patience over short-term price movements.

    This aligns with Solana’s reputation for innovation, offering a fast and scalable platform for decentralized applications (dApps). Its growing popularity and strong foundation in blockchain technology further solidify Sherpa’s optimistic outlook.

    The analyst urges investors to exercise patience and adopt a long-term perspective while dealing with the erratic cryptocurrency market and advises against overanalyzing the short-term price fluctuations.

    By contrast, he advocates refocusing towards a broader point of view, emphasizing that significant profits could result from a less fearful response to price fluctuations within the suggested purchase frame.

    In light of the volatility of cryptocurrency investments, this perspective offers some degree of clarity and suggests that Solana’s value is about to see a significant increase.

    But, SOL Price Is On The Weak Side

    However, Solana’s recent price performance paints a different picture. Over the past 24 hours and the last week, SOL has experienced a slight decline. This dip comes amidst a period of high trading volume, exceeding $4.3 billion in the last day alone. While high volume can indicate strong market interest, it can also be a sign of volatility.

    Further dampening investor sentiment is a concerning rise in failed transactions on the Solana network. Data from Dune Analytics reveals a staggering rate – nearly three-quarters of all transactions on the SOL chain have failed since March 2024.

    Source: Dune Analytics

    While bots causing spam are attributed to most of these failures, legitimate users interacting with the blockchain for swaps or decentralized exchange (DEX) transactions could also be affected. This network congestion raises questions about Solana’s scalability, a core strength Sherpa highlights.

    The Road Ahead For SOL

    Solana’s future trajectory hinges on its ability to address these network issues. Developers are actively working on solutions, but it remains to be seen if they can effectively mitigate the problem. Addressing scalability concerns will be crucial to maintaining user confidence and attracting new ones.

    Total crypto market cap is currently at $2.405 trillion. Chart: TradingView

    The contrasting perspectives on Solana highlight the inherent volatility of the cryptocurrency market. Investors considering SOL should carefully weigh Sherpa’s long-term vision against the recent price decline and network issues.

    Looking ahead, several factors will influence Solana’s future. The success of upcoming projects built on its platform and the broader adoption of blockchain technology will play a significant role. Additionally, regulatory developments and the overall performance of the cryptocurrency market could also impact SOL’s price.

    Solana remains a force to be reckoned with in the blockchain space. Its innovative approach and strong foundation are undeniable. However, overcoming network congestion is paramount to fulfilling its long-term potential.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Circle, Solana team up to boost USDC interoperability

    Circle, Solana team up to boost USDC interoperability

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    Circle, the issuer of popular stablecoin USDC, has partnered with Solana to bring its cross-chain transfer protocol to its blockchain ecosystem.

    Circle designed the cross-chain transfer protocol (CCTP) to enable the secure transfer of USDC between different blockchain ecosystems using the native mint and burn process, as stated on Wormhole’s website.

    Solana developers can now natively swap USDC tokens from Ethereum and other EVM-compatible ecosystems, including Arbitrum, Avalanche, Base, Optimism, and Polygon. It will also be compatible with non-EVM blockchains as well.

    CCTP first integrated with a non-EVM chain in October last year, when it partnered with Noble, a Cosmos-based token protocol, to bring USDC natively into the Cosmos ecosystem.

    As Noble is integrated with Cosmos’ inter-blockchain communication protocol (IBC), CCTP is also functionally compatible with all Cosmos chains connected with IBC.

    A handful of Solana ecosystem players will support CCTP from day one. This includes Wormhole, Allbridge, Mayan Finance, Drift Protocol, Sphere Labs, Cube Exchange, Jupiter Exchange, and Solend Protocol. Additional ecosystem projects are expected to go live in the following weeks.

    Bridging protocols such as the CCTP are essential in the on-chain environment, which enables blockchain networks — which generally operate in siloed environments — to communicate with one another, allowing the transfer of digital assets across various ecosystems.

    Traditional bridging solutions often have a handful of drawbacks, such as introducing additional trust assumptions and requiring users to pay significant gas fees.

    As Circle, the issuer of USDC, designed CCTP, the protocol may be preferred over third-party bridges, especially when transferring stablecoin across different ecosystems.


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    Bralon Hill

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  • Solana Captures Nearly 50% Of Global Crypto Attention

    Solana Captures Nearly 50% Of Global Crypto Attention

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    The Solana ecosystem has achieved a significant milestone by becoming the most popular blockchain ecosystem of the year. This is due to its ability to capture nearly half of the world’s crypto investor interest in the chain-specific theater.

    Together with the outstanding performance of native meme coins like dogwifhat and important ecosystem project tokens like Pyth, Solana’s comeback to 2021 peaks show a revived faith in the network.

    Solana’s Dominance: Coingecko Study Insights

    According to a study by Coingecko, as a result of Solana’s nearly 50% share of global chain-specific interest, and its affiliated projects’ increasing popularity and performance, the ecosystem has a significant mindshare that reinforces its leadership in the cryptocurrency market.

    Currently priced at $191, Solana (SOL) has increased by 13% in value over the past 24 hours. The fifth-ranked cryptocurrency has a market capitalization of nearly $85 billion, and its 24-hour trading volume amounted to $9 billion.

    Bitcoin price action. Chart: TradingView

    The popularity of Solana’s meme coins and ecosystem initiatives are successful in attracting attention to the network’s lively and dynamic ecosystem. As long as Solana is drawing attention and capital, its ecosystem will continue to dominate the cryptocurrency investor scene, paving the way for network expansion and innovation.

    Ethereum, on the other hand, is the second most popular blockchain ecosystem this year, having garnered nearly 13% of investor interest. Ethereum is probably not a new, hot crypto narrative anymore as its ecosystem and investors are already familiar with it. The Ethereum ecosystem is also seeing its focus spread out among the layer 2 ecosystems that are developing on top of it.

    SOL seven-day price ascent. Source: Coingecko

    Factors Driving Solana’s TVL Increase

    Meanwhile, according to DefiLlama’s data, the Solana blockchain has demonstrated a remarkable performance, with its decentralized finance (DeFi) total value locked (TVL) rising by nearly 80% in the previous month alone.

    Related Reading: DeFi Turmoil: Over $5 Million Wiped Out In Liquidations Amid Ethereum Price Drop

    This incredible ascent represented a significant turning point for the network, with the Solana TVL reaching its highest point in the previous two years. According to the most recent report, Solana is among the top five with the fastest-rising TVL in DeFi, with nearly $4 billion.

    Source: Defillama

    Much of Solana’s TVL is based on the increase in trade volume, which is tracked by the Defi protocols and operates across its Layer 1 (L1) network.

    Just this past month, there was a 125% increase in the daily trading volume of these protocols; the level of trading reached a peak of nearly $3.7 billion.

    Additionally, the network achieved an all-time high of $1.6 million in total daily fees, with fee income of $3.61 million.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • SOL Price Crosses $200 Milestone, What’s Next For Solana?

    SOL Price Crosses $200 Milestone, What’s Next For Solana?

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    Solana is gaining bullish momentum above $200. SOL price is still showing positive signs, and it could even surpass the $220 resistance in the near term.

    • SOL price gained bullish momentum and cleared the $200 resistance against the US Dollar.
    • The price is now trading above $200 and the 100 simple moving average (4 hours).
    • There is a connecting bullish trend line forming with support at $195 on the 4-hour chart of the SOL/USD pair (data source from Kraken).
    • The pair could continue to rally if it clears the $205 and $212 resistance levels.

    Solana Price Extends Rally

    Solana price remained strong above the $150 level and extended its rally. There was a decent increase above the $165 and $180 levels.

    The price is up nearly 20% and there was a move above the $200 level, outperforming Bitcoin and Ethereum. A new multi-month high was formed near $204, and the price is now consolidating gains. It is stable above the 23.6% Fib retracement level of the upward move from the $142 swing low to the $204 high.

    There is also a connecting bullish trend line forming with support at $195 on the 4-hour chart of the SOL/USD pair. Solana is now trading above $200 and the 100 simple moving average (4 hours).

    Source: SOLUSD on TradingView.com

    Immediate resistance is near the $205 level. The next major resistance is near the $212 level. A successful close above the $212 resistance could set the pace for another major increase. The next key resistance is near $220. Any more gains might send the price toward the $232 level.

    Are Dips Supported in SOL?

    If SOL fails to rally above the $205 resistance, it could start a downside correction. Initial support on the downside is near the $195 level and the trend line.

    The first major support is near the $175 level or the 50% Fib retracement level of the upward move from the $142 swing low to the $204 high, below which the price could test $165. If there is a close below the $165 support, the price could decline toward the $150 support or the 100 simple moving average (4 hours) in the near term.

    Technical Indicators

    4-Hours MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

    4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

    Major Support Levels – $19, and $175.

    Major Resistance Levels – $205, $212, and $220.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Aayush Jindal

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  • Solana, Jupiter are top gainers amidst meme coin craze

    Solana, Jupiter are top gainers amidst meme coin craze

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    Despite the market’s notable liquidation, Solana and Jupiter have recorded double-digit growth, becoming the top gainers Friday.

    The crypto market has been down by nearly 5% since yesterday, as Bitcoin dropped to $65,000 for the first time in over a week. Ethereum and Dogecoin also dropped almost 10% after seeing week-long rallies.

    Despite this brief decline, Jupiter and Solana continue to rally amid increased trading volume and positive market sentiment. SOL gained nearly 10% today, and Solana-based meme coins have experienced record-high gains throughout this bull market. Dogwifhat (WIF) reached a new all-time high of $3.47 yesterday, recording a 534% monthly growth. 

    Another newly launched Solana meme coin, Book of Meme (BOME), went viral on social media and has increased 560% since yesterday. The high demand for the BOME/SOL trading pair has also impacted Solana’s price today. BOME’s initial market started just below $10 million and soared to $510 million within a day of trading. 

    On the other hand, Jupiter’s (JUP) rally can be closely attributed to its record trading volume in March and the initiation of its first launchpad program, LFG, which is designed to support new market projects. 

    Jupiter also saw its highest trading volume only two weeks into March. The platform’s largest trading month was December, at $16.6 billion. Up to March 14th, the exchange had already crossed $20 billion, reflected in JUP’s market price. 

    Jupiter exchange monthly trading volume | Source: Jupiter Station

    Jupiter’s record trading volume is also linked to Solana, as SOL/USDC and SOL/WIF were the most traded pairs on the exchange in March. Regarding daily trading volume, SOL/BOME was today’s most traded pair on the DEX. 

    Solana-based meme coins and their availability on Jupiter have positively affected both altcoins, as the tokens have successfully survived the recent liquidation phase in the bull market. 


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    Mohammad Shahidullah

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  • Solana Tokens Among Top Gainers: JUP, WEN, And WIF Soar

    Solana Tokens Among Top Gainers: JUP, WEN, And WIF Soar

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    The Solana ecosystem has experienced notable growth, and SOL’s price has turned many experts bullish on it. Similarly, the Solana-based tokens are showing impressive performances during this bull run, with many being among the top gainers in different timeframes.

    Solana Chain Driven By Memecoins?

    According to CoinGecko data, Solana is currently the 5th largest blockchain by Total Value Locked (TVL), registering over 12.8% growth in the past day. During this timeframe, Solana has outperformed its competitors, including Ethereum, which has registered a 2.2% decrease since yesterday.

    In the 7-day and 30-day timeframes, Solana has seen a TVL growth of 35.3% and 89.8%, respectively. As displayed in the chart below, it surpassed the performance of the four chains above it.

    Franklin Templeton Digital Assets shared its perspective on the value of memecoins and their native networks. The financial giant considers that there’s a strong relationship between memecoins and the performance of their native chains.

    In the last year, crypto markets have seen multiple meme coins parabolically surge, most notably, Solana based BONK during Q4 2023. Solana daily active user addresses were up 75% quarter over quarter from Q3 to Q4 2023.

    The asset management firm deems that the connection between the two is further alluded to because “the Solana network captured a large percent of the activity of all the active addresses during the same time that BONK saw a price surge” during Q4 2023.

    According to CoinMarketCap data, the market capitalization of the Solana-based tokens increased by 5.5% from yesterday to over $222.36 billion. The performance of the memecoins seems to have put a notch on the network’s belt.

    Performance Un-like Cats and Dogs

    Tokens in the Solana chain have registered massive performances recently, and the newest tokens around the block (dogwifhat, Wen, Jupiter) continue to shake the crypto market ground.

    Notably, dog- and cat-themed tokens continue to be hot topics in the community. According to CoinGecko Data, the Solana-based Myro, Bonk, and Popcat are trending tokens in their sub-categories.

    Las Vegas Puts Its Hat On

    Since the launch of dogwifhat (WIF), the token has gone from being a “cute dog with a crochet hat on to gathering a robust community seemingly able to back it up.”

    The over $650,000 raised for the “wif on sphere” fundraiser campaign could serve as evidence of the community’s support. As a result of the campaign, the Las Vegas Sphere will display WIF’s icon for a week on the world’s largest LED screen.

    Since the news, the token skyrocketed to a new all-time high (ATH) of $3.36 this morning, representing a 42.3% increase in the last 24 hours. At writing time, WIF changes hands at $3.1, just 4.3% lower than its ATH.

    Space Suit On, Wen Goes To Jupiter

    Jupiter (JUP) recently announced its partnership with the cat-themed token WEN. The latest Jupiter Work Group (JWG) will collaborate with the WEN Work Group. According to the announcement, it “will be focused on contributing awesome vibes and content to amplify crucial Jupiter message.”

    The community seemingly took the partnership positively. After the news, both tokens surged. WEN’s price rose above $0.00040 in the early hours of the day, and it’s currently trading at $0.00038, a 12.5% increase in the last 24 hours.

    JUP propelled to a new ATH of $0.988, almost hitting $1. At writing time, the token is trading at $0.948, representing a 12.8% price surge in the 1-day timeframe. Similarly, its daily trading volume increased over 58%, with $418.04 million being traded in the past day.

    Solana, Crypto market cap, memecoins

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    Rubmar Garcia

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  • Solana’s price rises to $160, highest level since January 2022 as memecoin mania rises | TechCrunch

    Solana’s price rises to $160, highest level since January 2022 as memecoin mania rises | TechCrunch

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    Dogwifhat and politically-inspired tokens of President Biden and Trump also see price spikes


    Jacquelyn Melinek

    7 hours

    The token behind Solana, a layer-1 blockchain that’s competitive with the Ethereum blockchain, has been through the wringer after it plummeted from a high of about $260 to a low around $8 in early 2023. But like every good movie with a character redemption arc, Solana has one too.

    The cryptocurrency passed $160 on Wednesday, marking its highest price since January 2022. It’s the fourth largest cryptocurrency (excluding stablecoins) by market cap behind bitcoin, ether and BNB, in that order, and it’s up 44.8% on the month and about 676% from the year-ago date, according to CoinMarketCap data.

    The blockchain behind the token is well known for its NFT marketplace, which is the second largest by all-time sales volume at $5.2 billion, as well as its decentralized finance (DeFi) ecosystem and more recently, developers’ ability to churn up memecoins on its chain faster than I can write this article. So it’s not surprising that the growth and traction on its blockchain is also being transpired through to its token.

    Since mid-December, a number of Shiba Inu dog-themed tokens on the Solana blockchain like Bonk and dogwifhat have taken off. The two tokens, which try to capitalize on the popularity of the original dog-based memecoin, Dogecoin, are up 150% and 600% on the month, respectively. The dogwifhat community also self-funded about $700,000 in less than four days to get the token shown on the external surface of the new Las Vegas Sphere – and people paid through USDC, the second-largest stablecoin, not dollars, to do it.

    And don’t worry, cat lovers: kitty-themed tokens like Popcat that are also showing crazy gains. For context, Popcat’s price increased 3,205% on the month.

    Bonk and Solana’s web3 smartphone Saga gained more attention after savvy crypto traders realized they could redeem 30 million tokens of BONK, worth between $500 to $800 in December, on the device. At current prices, the 30 million in free BONK tokens is worth almost a grand.

    In recent weeks, a number of politically inspired memecoins on the chain also have gained traction, like jeo boden, doland tremp and the crudely-named elizabath whoren, with market capitalizations of $71.8 million, $47.8 million and $8.8 million, respectively, at the time of publication. (If you’re wondering if I misspelled those tokens based on U.S. politician’s names, I didn’t.)

    Even Coinbase, the largest crypto exchange in America, shared steps on its website how to buy some of these tokens in the U.S., through other avenues off its own platform. In order to trade some of these cryptocurrencies on Solana, users need the native chain’s token to pay a nominal fee, fractions of a penny. (Please note none of this is financial advice, but one of the reasons that could point to Solana’s price increase.)

    Memecoins in general have seen a huge rally as the crypto market continues to thaw from its most recent winter. This, alongside airdrops from projects’ tokens, have sparked interest in Phantom, a crypto wallet heavily used across the Solana ecosystem, which has seen its active user base more than triple in the past year to 3.2 million monthly active users.

    While majority of these tokens have no underlying utility – dogwifhat is literally named after a dog wearing a knitted hat – people are still rallying behind them, arguably in hopes of getting rich quick or because they resonate with the eccentric, tsunami-like communities these assets create.

    But what goes up, often comes down, and the quick rise of some memecoins is often followed often extreme busts, sometimes within days of launching. While some may retain price support for months, as we’ve seen with a handful of tokens, it’s important to consider that not everything that shines like glitter is gold.

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    Jacquelyn Melinek

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  • Pantera Capital Eyes $250 Million Opportunity with FTX Estate for SOL: Report

    Pantera Capital Eyes $250 Million Opportunity with FTX Estate for SOL: Report

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    Pantera Capital is reportedly in the process of securing funds from major investors to acquire heavily discounted Solana tokens from the bankruptcy estate of FTX. The company is raising capital for the Pantera Solana Fund, which presents an attractive opportunity to purchase up to $250 million worth of SOL tokens from the FTX estate.

    Marketing materials from February, obtained by Bloomberg, reveal that investors would have the option to buy SOL at a price 39% below the 30-day average or at $59.95. However, in exchange for this option, investors would need to commit to a vesting period of up to four years.

    Pantera Solana Fund

    According to the investor pitch, Pantera initially aimed to finalize the fund’s closure by the end of February. A source familiar with the matter mentioned that the $5.2 billion crypto-focused asset manager managed to raise some funds by the deadline. However, the individual refrained from disclosing the exact dollar amount.

    FTX, which entered Chapter 11 bankruptcy proceedings in US courts in November 2022, possesses 41.1 million SOL coins, valued at $5.4 billion as of Wednesday’s closing price. This accounts for about 10% of the total SOL supply, according to Pantera’s presentation.

    The latest proposal from the digital assets-focused hedge fund would enable FTX liquidators, led by John J. Ray III, to sell SOL to generate funds for creditors while avoiding immediate pressure on the token’s price.

    Investors must contribute a minimum of $25 million each, with the understanding that the SOL tokens they receive will be initially restricted and will unlock over a four-year period.

    Additionally, Pantera intends to implement a management fee of 0.75% and a performance fee of 10%, as outlined in the materials.

    Solana and FTX’s Relationship

    Sam Bankman-Fried showed significant support for Solana, actively endorsing projects within its ecosystem. His enterprises accumulated substantial amounts of the blockchain’s native token, SOL, from both the Solana Foundation, a nonprofit organization backing the blockchain, and Solana Labs, the blockchain’s developer.

    Bankman-Fried even initiated Serum, a decentralized exchange established on Solana’s blockchain, and also provided investment in various projects operating on Solana’s network.

    As a result, SOL turned out to be one of the biggest losers after FTX plunged into bankruptcy.

    The Solana Foundation had approximately $1 million in cash or cash equivalents held on FTX.com when the trading platform halted customer withdrawals in early November. This amount represented less than 1% of the foundation’s total cash or cash equivalents, and there were no SOL tokens held in custody on the exchange.

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  • Solana Investor Sentiment Remains Battered With $3M Outflows: CoinShares

    Solana Investor Sentiment Remains Battered With $3M Outflows: CoinShares

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    Solana-based investment products had seen steady inflows throughout the year after intensive performance and reliability improvements.

    However, investor confidence took a hit due to a network outage lasting five hours earlier this month, caused by a bug that caused transactions to enter an infinite loop, thereby impacting the network’s functionality.

    Solana’s Troubles Continue

    Among altcoins, only investment products tied to Solana experienced outflows, which surged to $3 million in the past week. This latest figure nearly doubles the amount from the previous week, when Solana saw $1.6 million in outflows.

    Its rival, Ethereum, on the other hand, saw inflows of $17 million.

    During the same period, other altcoins, such as Chainlink and XRP, also attracted $1.8 million and $1.1 million inflows, respectively. Investment products based on Cardano and Litecoin settled with inflows of $0.4 million and $1 million, respectively.

    According to CoinShares’ latest edition of Digital Asset Fund Flows Weekly Report, Bitcoin experienced inflows of $570 million last week, pushing its year-to-date inflows to $5.6 billion. However, recent price increases prompted minor inflows into short-bitcoin positions, totaling $3.9 million.

    Investment products focused on digital assets saw weekly inflows reaching $598 million, according to CoinShares. This marked the fourth straight week of such inflows. As a result, the year-to-date inflows have exceeded $5.7 billion, constituting 55% of the record inflows observed in 2021.

    Earlier this week, the total assets under management (AuM) reached a peak of $68.3 billion, the highest since December 2021, though still below the all-time high of $87 billion recorded in November 2021.

    Meanwhile, blockchain equities had a subpar week, experiencing outflows amounting to $81 million, suggesting a degree of caution among equity investors currently.

    US Dominates Investment Inflows

    In terms of regions, the spotlight remains on the US, where the majority of inflows totaled $610 million, influenced by incumbent issuer Grayscale, which witnessed additional outflows amounting to $436 million last week.

    Brazil and Switzerland experienced minor inflows of $8.2 million and $2.1 million, respectively, while both Canada and Sweden saw outflows totaling $18 million and $8 million, respectively. Germany also noted a minor outflow of $0.3 million.

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    Chayanika Deka

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  • Solana Drops Below 100-Day MA On 4-Hour Chart, SOL Price In Danger?

    Solana Drops Below 100-Day MA On 4-Hour Chart, SOL Price In Danger?

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    Having failed to break its previous high for the year, the price of Solana has continued to move downward. From the height of $118.88, the coin, which is currently ranked 5th in the crypto space with a total supply of 440,961,455 SOL and a market capitalization of $58.2 million,  has made a drop of over 25% and is not showing any signs of stopping.

    As of the time of writing, the price of SOL was up by 2.76% and trading around $102.63, below the 100-day moving average in the last 24 hours. Meanwhile, in the daily timeframe, the price has dropped a bearish candlestick, indicating that the price is still bearish.

    The moving average indicator generally is used to determine the trend of an asset, which could be an uptrend or downtrend. Since the price of Solana is trading below the 100-day moving average, could this mean that the price has changed from an uptrend to a downtrend?

    Solana On The 4-Hour Chart

    A technical examination of the chart from the 4-hour timeframe and with the help of a trend line we can see that two resistance levels of $118.88 and $114.87 have been created by previous price movement. We can also see that the price has broken the support level of $103.57. Therefore, the price for the next destination might be the $92.84 support level. 

    This can be seen in the image below:

    Source: Tradingview.com

    Also, taking a look at the 4-hour timeframe chart with the help of the MACD indicator in the above image, we can see that the MACD histogram is trending below the MACD zero line. Both the MACD line and the signal line have crossed and are trending below the MACD zero line, suggesting that the price of SOL is bearish and could continue to move downward.

    A final look at the chart with the help of the Bull Power Vs. Bear Power Histogram indicator, we can see that the histograms are trending below the zero line. This suggests that buyers have completely lost momentum in the market, and sellers have taken over it. Thus, the price will tend to move downward. 

    We can see this in the image below:

    SOL price

    Source: Tradingview.com

    Possible Outcomes If The SOL Price Continues To Drop

    If SOL continues to drop, we might see the price moving toward the support level of $92.84. Also, if it manages to break below this level, the price might move further downward toward the $79.32 support level.

    Presently, Solana is seeing minor upsides of 1.3% in the last 24 hours, according to data from CoinMarketCap.

    Solana price chart from Tradingview.com (SOL price)

    SOL bulls struggle to maintain price at $102 | Source: SOLUSD on Tradingview.com

    Featured image from Coinfomania, charts from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Cardano Outperforms Solana in This Key Metric: Details

    Cardano Outperforms Solana in This Key Metric: Details

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    TL;DR

    • Cardano experiences significant growth in NFT sales and total value locked.
    • ADA’s price outperforms several rival cryptocurrencies over a two-week period.

    Cardano has recently outshined some of its rivals in some essential metrics. According to CryptoSlam, NFT sales on the network have surpassed $1.6 million in the last week, representing a 100% increase. Solana’s figure stands at approximately $48 million, which is a 7% decline for the same time frame.

    Total value locked (TVL) on Cardano has also been on the rise lately, exceeding the $400 million mark (per DefiLlama’s data) and hovering close to the peak levels observed in mid-December 2023.

    As CryptoPotato recently reported, the metric has soared almost 700% year-over-year (YoY), pushing Cardano’s ranking from 34th to 13th.

    Total value locked on Solana is currently around $2 billion, but the figure is far from the all-time high of approximately $10 billion registered in November 2021.

    Cardano’s ADA has been among the top-performing altcoins as of late, registering a 25% price increase (per CoinGecko’s data) on a two-week scale. In comparison, Solana (SOL) is up 14% for that period, while Ripple’s XRP – 11%.

    ADA Price
    ADA Price, Source: CoinGecko

    On February 8, the popular X (Twitter) analyst Ali claimed that “a sustained daily close above $0.53” could push ADA’s valuation to $0.68. Recall that the asset hovered around the resistance level for the next 24 hours and then started an uptrend towards the $0.55 mark.

    Those willing to observe additional ADA forecasts can take a look at our dedicated video below:

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    Dimitar Dzhondzhorov

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  • Solana-Based Jupiter Reveals Candidates For Next Launchpad

    Solana-Based Jupiter Reveals Candidates For Next Launchpad

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    Solana-based decentralized exchange (DEX) aggregator Jupiter recently announced the possible launch of three new tokens through its launchpad. The announcement follows the launch of its JUP native token via the LFG launchpad last week.

    Solana’s Community Holds The Power?

    After the scheduled closing of the JUP launch pool, Jupiter Exchange and its founder took X (formerly known as Twitter) to reveal the next steps for the Solana-based project.

    As the pseudonym founder Meow stated, the LFG launchpad is Jupiter’s “initiative to grow the pie by helping great projects get the awareness, community, and users to thrive in the long term.” As a result, the founder presented three “OG” Solana projects to the community that could be part of the next launchpad.

    The first candidate is Sanctum, a liquid staking service with “experience building the first SPL program used by stake pools, and liquidity sources like unstake.it.” The next project, Sharky, is an expanding NFT collateralization platform on Solana that allows “NFT holders to borrow and lend against NFTS to acquire leverage or earn yields.”

    Closing the list, the cross-chain infrastructure provider deBridge is presented as a project that allows users to trade assets across chains in seconds without the need for wrapped assets or liquidity pools.

    Jupiter’s founder highlighted that the community would have the final say in any project’s participation on the launchpad. Since LFG is a community initiative where Jupiter’s team “should play no role,” it’s up to the Solana users to discuss and decide if any projects are suitable for launch in the LFG platform.

    Additionally, the post announced that the introduction process of the projects to the community would take part over the next two weeks through different channels, including special ones for each project and a summary on X. For the future, Jupiter’s team will provide application channels for other projects interested in participating.

    Next Steps For The Project

    On February 7, the project confirmed in an update that the launch pool was closing after seven days, as previously scheduled. In the process, 90 million JUP tokens were withdrawn and moved to a cold multi-sig wallet, effectively taking them out of circulation.

    The project also announced that the launch pool was left with 65.5 million USDC, which would serve as a liquidity backstop for JUP.

    However, the USDC will be removed over the next couple of months in $10 million batches to allow the JUP token to regain price discovery while simultaneously “assuring all participants that the team is committed to a long-term gradual withdrawal of USDC liquidity.”

    The founder’s post shared Jupiter’s intention to initiate a decentralized anonymous organization (DAO) this month and “incrementally evolve it into the most dynamic, most productive and proactive DAO in space.”

    Initially, the JUP DAO would focus on evaluating and approving launchpad projects, ratifying budgets for working groups, approving grants, and releasing budgets for ongoing community and ecosystem initiatives.

    The team’s update specified the steps to encourage the community’s participation and to fund it with the capital to pursue important initiatives. The steps include distributing 75% of future LFG launchpad fees to the governance participants, “100M in JUP earned from the LFG launchpad for voting incentives, and 6.15M in operational funds from JUP Launch.”

    Jupiter is trading at $0.5276 in the daily chart. Source: JUPUSDT on Tradingview.com

    Feature Image from Unsplash.com, Chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



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    Rubmar Garcia

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  • Solana Investors Flock Back With $13M Inflows Beating Ethereum, Avalanche

    Solana Investors Flock Back With $13M Inflows Beating Ethereum, Avalanche

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    Investment products for digital assets received significant influxes of $708 million last week, contributing to year-to-date inflows of $1.6 billion and increasing the total global assets under management to $53 billion.

    However, trading volumes in ETPs dropped to $8.2 billion from the previous week’s total of $10.6 billion, though they still surpass the 2023 weekly average of $1.5 billion. According to CoinShares’ latest report, these volumes represent 29% of Bitcoin’s overall trading activity on trusted exchanges.

    Solana Signal Strong Comeback

    Following a period of lackluster performance in recent weeks, investment products focused on Solana are showing renewed strength amid a broader market rebound.

    In the latest edition of ‘Digital Asset Fund Flows Weekly Report,’ CoinShares reported that Solana experienced inflows of more than $13 million last week, surpassing both Ethereum and Avalanche, which saw outflows of $6.4 million and $1.3 million, respectively, during the same period. Other altcoins such as Cardano, Litecoin, and XRP also noted minor inflows of $0.6 million, $0.3 million, and $0.1 million, respectively.

    As expected, investment products focused on Bitcoin continued to steal the show. The asset manager’s report further revealed that the leading cryptocurrency attracted inflows amounting to $703 million last week, constituting 99% of all flows.

    On the other hand, short positions in Bitcoin experienced slight outflows totaling $5.3 million. This essentially aligned with a reversal of the previous negative price momentum.

    US Investment Scene Booms

    Regionally, the spotlight remains on the United States, where inflows reached $721 million last week, boosted by newly issued ETFs attracting $1.7 billion in inflows. These newly launched ETFs have maintained an average of $1.9 billion in inflows over the past four weeks, accumulating total inflows of $7.7 billion since their introduction on January 11th.

    However, this has been countered by outflows from established issuers amounting to $6 billion, though recent data suggests a significant slowdown in the pace of these outflows.

    Meanwhile, Switzerland, Germany, and Brazil recorded weekly inflows of $20.9 million, $3.5 million, and $1.3 million, respectively, followed by Australia and France with $0.9 million and $0.1 million inflows. However, Canada and Sweden recorded $31.3 million and $8.2 million outflows during the same period.

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    Chayanika Deka

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  • Bitcoin reaches highest monthly volume since September 2022

    Bitcoin reaches highest monthly volume since September 2022

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    In January, analysts recorded a record trading volume in the blockchain of the first cryptocurrency; the figure amounted to $1.21 trillion.

    The last time trading volume on the Bitcoin network rose above $1 trillion was only in September 2022, according to The Block. At that time, Bitcoin (BTC) was trading at around $20,000.

    Source: The Block

    According to CoinMarketCap, the first cryptocurrency is trading at $43,089 at the time of writing. Over the past 24 hours, the asset’s price has strengthened by 0.6%. The highest level over the past 24 hours was $43,147 and the lowest was $42,283. Bitcoin’s market capitalization is now $845 billion, with daily trading volume exceeding $15.6 billion.

    Bitcoin reaches highest monthly volume since September 2022 - 2
    Source: CoinMarketCap

    The sharp increase in BTC trading volumes was accompanied by the approval of spot Bitcoin ETFs on Jan. 10 by the Securities and Exchange Commission (SEC). On the first day, the volume of exchange trading in new investment instruments exceeded $4.5 billion, and the price of BTC immediately rose to $48,800.

    Another cryptocurrency that set a record was the surging of Solana (SOL). In January, the volume of transactions on the Solana network was up 30% compared to last month. Thus, the figure almost reached $1 trillion – $951.9 billion. Such a surge in activity has not been observed in the SOL blockchain for nearly two years.

    The growth in transaction volume was primarily due to the excitement around the airdrop from the Jupiter aggregator. In addition, the rise in the value of SOL and the popularity of the new meme coin WEN also affected the indicator.


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    Anna Kharton

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  • Crypto Report Suggests Solana A Main Focus For Next Bull Market

    Crypto Report Suggests Solana A Main Focus For Next Bull Market

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    A recent ‘Navigating Narratives’ report by K33 Research provided insights on how to trade altcoins. Interestingly, as part of their analysis, they highlighted Solana (not ETH) as the main focus and elaborated on why this was so. 

    Why Solana Is The Main Focus

    The report, written by DeFi Analyst David Zimmerman, stated that they were focusing primarily on buying SOL if there was an opportunity to buy lower. They claim the reason for this is that “SOL has solidified its place in the market as one of the market leaders.” They also expect that SOL’s outperformance of ETH will continue in this market cycle. 

    Meanwhile, Zimmerman highlighted how SOL’s on-chain activity has continued to flourish and noted that the narrative of SOL being ETH’s main competitor was still intact. The Solana network has long been dubbed the “Ethereum Killer,” with the belief that the former will dethrone the latter at some point. 

    Indeed, Solana has gone toe-to-toe with Ethereum in recent times, momentarily surpassing it in significant metrics. Back in December, Solana ranked above Ethereum in seven-day DEX volume for the first time in history and outperformed it in NFT trading volume during that same period. More recently, Solana’s Jupiter outranked Ethereum’s Uniswap in daily trading volume. 

    Solana currently trading at $98.9700 on the daily chart: TradingView.com

    SOL also outperformed ETH last year, with the former seeing a gain of about 1000%. Crypto analyst Santiago Santos also recently gave his opinion on Solana and Ethereum’s fight for dominance. Comparing Ethereum’s run during the ICO boom to Solana’s current run, he noted that Solana had an edge since it has “applications seeing meaningful usage and growth.” 

    This happens to be one of the reasons he believes that Solana will “converge on Ethereum faster than most believe.”

    What Price Levels Present Buying Opportunities For SOL

    Having explained why SOL was the main focus among altcoins, the Navigating Narratives report highlighted price levels they were eyeing in case in case the market gives deeper pullbacks for SOL. These levels include the $70, $50 and $30 price range. 

    However, they noted that they weren’t expecting the $30 buy order to be filled since it would require a crash like the one that happened in March 2020. This was the period when Bitcoin lost almost half of its value in a two-day plunge. Other crypto tokens also experienced similar pain then.

    Meanwhile, if SOL continues to rally, K33 Research highlighted the $115 and $140 price ranges as ideal areas for selling and taking profits. 

    At the time of writing, SOL is trading at around $99, up in the last 24 hours according to data from CoinMarketCap. 

    Featured image from Adobe Stock, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • SOL Price Faces Big Move – Can Bulls Send Solana To $120?

    SOL Price Faces Big Move – Can Bulls Send Solana To $120?

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    Solana is attempting a fresh increase from the $92 zone. SOL price could gain bullish momentum if it manages to clear the $100 and $104 resistance levels.

    • SOL price started a fresh decline from the $106 resistance against the US Dollar.
    • The price is now trading above $92 and the 100 simple moving average (4 hours).
    • There was a break below a key bullish trend line with support at $100 on the 4-hour chart of the SOL/USD pair (data source from Kraken).
    • The pair could start another increase if it surpasses the $100 and $104 levels.

    Solana Price Faces Key Test

    Solana price started a fresh decline after it struggled to clear the $106 level like Bitcoin at $43,800. There was a clear move below the $102 and $100 support levels.

    Besides, there was a break below a key bullish trend line with support at $100 on the 4-hour chart of the SOL/USD pair. However, the bulls were active near the $92 level and the 100 simple moving average (4 hours). The price is now attempting a fresh increase above the $95 level.

    The price retested the $100 zone and the 50% Fib retracement level of the downward move from the $106.41 swing high to the $92.95 low. SOL is now trading above $95 and the 100 simple moving average (4 hours).

    Source: SOLUSD on TradingView.com

    Immediate resistance is near the $100 level. The next major resistance is near the $104 level or the 76.4% Fib retracement level of the downward move from the $106.41 swing high to the $92.95 low. A successful close above the $104 resistance could set the pace for another major increase. The next key resistance is near $112. Any more gains might send the price toward the $120 level.

    Another Decline in SOL?

    If SOL fails to rally above the $100 resistance, it could start another decline. Initial support on the downside is near the $92 level and the 100 simple moving average (4 hours).

    The first major support is near the $90 level, below which the price could test $85. If there is a close below the $85 support, the price could decline toward the $78 support in the near term.

    Technical Indicators

    4-Hours MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

    4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

    Major Support Levels – $92, and $92.

    Major Resistance Levels – $100, $104, and $112.

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Aayush Jindal

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  • Bitcoin billionaire Arthur Hayes urges a return to investing in Solana

    Bitcoin billionaire Arthur Hayes urges a return to investing in Solana

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    Former BitMEX CEO Arthur Hayes recently highlighted Solana’s potential for recovery and growth in the crypto market after the FTX downfall and corruption.

    After the conclusion of the FTX collapse and the legal battles that ensued, many speculated about the fate of Solana (SOL), a cryptocurrency once favored by the now-convicted founder Sam Bankman-Fried. Contrary to speculations, Hayes has recently spotlighted Solana, indicating a positive trajectory for the network.

    Known for his expertise and experience in navigating the crypto market’s ups and downs, Hayes posted his optimism for Solana to X, suggesting it might be time to invest in SOL.

    The former BitMEX CEO, with a track record of making market predictions, also shared insights into his investment strategy in a recent essay. He discussed a potential downturn for Bitcoin (BTC) and his decision to sell some tokens to mitigate losses, including sales of Solana and Bonk tokens. Hayes plans to invest heavily in Solana and other altcoins if Bitcoin’s price falls below $35,000, indicating his belief in Solana’s potential recovery and growth.

    Solana’s market performance has been a rollercoaster, with significant fluctuations in its price. After a bullish surge in late 2023, Solana experienced a correction in early 2024 but has shown resilience, maintaining a price indicative of investor confidence.

    With Hayes’ previous comments also being bullish, followed by a rise in price, his words potentially mean better days to come in the market for Solana.


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    Bralon Hill

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  • Why Solana Beats Ethereum In This Bull Cycle: Crypto Expert

    Why Solana Beats Ethereum In This Bull Cycle: Crypto Expert

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    In a recent analysis, Andrew Kang, co-founder and partner of Mechanism Capital, provided a comprehensive analysis of the cryptocurrency market, focusing on the comparative strengths of Solana (SOL) over Ethereum (ETH) in the current bull cycle. Kang shared his insights via X, the platform formerly known as Twitter.

    Central to Kang’s argument is the idea that in the current market, Solana presents a more favorable trading option than Ethereum. He states, “The definition of insanity is repeatedly trying to long ETHBTC when longing SOLBTC (or SOLETH) is the much better trade in a bullish environment.” This succinctly captures his perspective on the shifting dynamics between these major cryptocurrencies.

    Why Solana Is The Superior Trade Than Ethereum

    Kang offers a retrospective view of Ethereum’s journey, noting, “Over the first 6-7 years of ETH’s life, there was a lot of uncertainty and lack of education around ETH. There were a lot of Bitcoin holders to be converted to Ethereum holders.” He recognizes Ethereum’s early volatility and its eventual emergence as a stable trading asset.

    However, he suggests that this relative stability has now become a double-edged sword: “ETH also became a ‘safe’ risk-on asset that traders could get into in size. That’s what made it a great cross to trade. But over time, people’s allocation to eth vs btc started to harden and the amount of people left to convert whittled away.”

    Addressing Ethereum’s advancements in technology, Kang points out a paradox. He states, “While these [Layer 2 solutions and Modular technology] might seem like good things, it is these characteristics/innovations that weighs heavy on ETH during risk on periods where ETH previously outperformed.” He suggests that these developments, though innovative, have introduced new complexities that impact Ethereum’s performance in bull markets.

    “Yes, you may have some conversion from BTC to ETH during risk on periods (much less so these days), but in this era ETH faces much more rotational pressure from those going from ETH as their base asset to these very L2s, modularity coins, SOL, those capitulating ETHBTC longs, and other shitcoins that it is supposed to benefit from,” Kang claimed.

    In contrast, the crypto expert highlights Solana’s advantages, asserting, “Not only does SOL not face these same issues but it also has crossed the chasm in becoming a blue-chip Layer 1.” He emphasizes Solana’s resilience and its appeal to conservative investors who previously focused mainly on Bitcoin and Ethereum.

    Kang further elucidates, “Conservative giants that previously were comfortable with BTC and ETH have SOL as an easy, safe next step. It is this transition phase of becoming a new major or base asset that you want to ride. A young fast horse, not a horse encumbered by the troubles of age, baggage and Jared Gray.”

    Significantly, Kang notes a major shift in market dynamics, stating, “There was a secular shift in the collapse of ETHBTC volatility in 2023.” He posits that this shift has redefined the comparative advantage in favor of Solana. Concluding his analysis, Kang confidently asserts, “Even if that ever changes, SOLBTC will be the superior trade.”

    At press time, SOL was just 30% short of a new all-time high against ETH.

    SOL/ETH, 1-week chart | Source: SOLETH on TradingView.com

    Featured image from securities.io, chart from TradingView.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



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    Jake Simmons

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  • Solana (SOL) Bulls Imminent: Analyst Predicts Price Surge To $113

    Solana (SOL) Bulls Imminent: Analyst Predicts Price Surge To $113

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    In the ever-fluctuating world of cryptocurrencies, Solana (SOL), which has witnessed a significant decline in price in the past few days, might be poised for a breakout soon toward the upward trajectory.

    Solana Set To Hit The $113 Price Mark Soon

    As the development unfolds, Ali Martinez, a well-known cryptocurrency analyst, has revealed his short-term price predictions for Solana. The analyst took to the social media platform X (formerly Twitter) to share his latest projections with the crypto community. 

    In the X post, Ali Martinez has identified a notable shift in the direction of Solana. According to him, “SOL seems to be breaking out from a descending parallel channel.”

    As a result, Martinez has predicted the price of Solana to reach a new yearly high of $113. However, this is anticipated to take place if SOL manages to hold its position “above the $94” price mark.

    The post read:

    Solana appears to be breaking out from a descending parallel channel. If SOL can hold above $94, it has a great chance of advancing toward $113.

    Martinez’s price predictions for SOL came amidst the present market volatility, which is believed to be triggered by the Bitcoin Spot ETFs. Since the approval of the products, the larger crypto market has gone through a difficult time.

    SOL breaking out of the descending parallel channel | Source: Ali_charts on X

    Major cryptocurrency assets in the market have witnessed a major decline in value over time. Nonetheless, the expert’s recent price overview has sparked new hope for SOL traders and investors.

    Martinez’s positive price forecast for Solana has caused quite a frenzy in the entire crypto community. With SOL breaking free from a parallel channel that was falling, everyone is now talking about the token’s possible rise.

    It is noteworthy that Solana has experienced a significant upswing in popularity in recent years, especially in 2023. Due to this, the project has become a preferred investment option for crypto aficionados and investors.

    As of the time of writing, Solana was trading at $96.63, demonstrating a 10% increase in the past week. The digital asset boasts of a 47% rise in daily trading volume valued at $2.30 billion.

    The SOL Ecosystem Buzzing With Activity

    Lately, several exciting developments have put Solana’s ecosystem in the spotlight. One of the recent events is the introduction of the SOL-based meme coin Wen (WEN), which has seen a notable rise in its daily trade.

    According to a report, the meme coin’s 24-hour trading volume has elapsed that of the popular Shiba Inu (SHIB) token. The token has had a remarkable rise in its daily trade, recording over 40% increase.

    Data from the report shows that WEN recorded a whopping $115 million in its 24-hour trading volume. Meanwhile, Shiba Inu recorded a whopping $88 million in its daily trading volume.

    Currently, the daily trading volume of the coin is sitting at $123 million, indicating a 76% increase. This suggests increased trader interest, which could be connected to the recent market activities specific to the coin.

    Solana
    SOL trading at $96.86 in the 1D chart | Source: SOLUSDT on Tradingview.com

    Featured image from Shutterstock, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Godspower Owie

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