Is It Too Late to Buy Solana? SOL Price Blasts Up 10% but Crypto Whales are Accumulating Another Coin Instead – Here's Why

Crypto News
Crypto News

30 Jun 2023 9:42 AM

The price of Solana (SOL) has risen by more than 10% in the past 24 hours, surging to $18.89 after the launch of deBridge, a protocol enabling cross-chain transfers between Solana and Ethereum-compatible networks....

  • The price of Solana (SOL) has increased by over 10% in the past 24 hours after the launch of deBridge, a protocol enabling cross-chain transfers between Solana and Ethereum-compatible networks.
  • SOL has also seen a 27% increase in the past two weeks, but is down by 9% in the last 30 days.
  • The post-deBridge rally may have already peaked, and SOL may not rise much until the interoperability protocol results in sustained growth and adoption.
  • Traders may be looking to other coins with more short-term potential, such as Thug Life Token (THUG), which is attracting attention.
  • SOL's chart suggests that the altcoin's rally is close to peaking, but there is still a chance it may continue for a day or two more.
  • The launch of deBridge aims to make Solana interoperable with Ethereum-compatible networks, which could accelerate Solana development and increase demand for SOL in the long term.
  • Many investors are turning to other altcoins, including THUG, a meme coin rooted in the gangsta rap and hip-hop communities.
  • THUG's presale has already raised close to $150,000, with 70% of its total maximum supply allocated to the presale.

The sentiment in the article is mixed. It highlights the recent surge in SOL's price due to the launch of deBridge, but also suggests that the rally may have peaked and investors are turning to other altcoins. The long-term potential of Solana's interoperability and the success of THUG's presale are mentioned as positive factors.

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You May Ask

What has caused the recent price increase in Solana (SOL)?How has SOL performed in the past two weeks and the last 30 days?Is the post-deBridge rally expected to continue or decline?What is deBridge and how does it impact Solana's growth and adoption?What is Thug Life Token (THUG) and why is it attracting attention?

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