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Crypto
Solana(SOL)

$98.48

0.79%

Market Cap
42.96b
 

0.79%

Volume (24h)
1.53b
 

14.62%

Released on 10 Apr 2020
Crypto
Market Cap
N/A
 

Volume (24h)
304.36m
 

12.28%

Released on 16 Dec 2021
Crypto News
Crypto News
Solana Price Drops 5%: Can SOL Fall Down to $20 Again?
4 days ago
Coinstages
Coinstages
followers

Solana is gearing up for big changes in 2024. With new token expansions on the horizon, it will become easier for developers to create and ensure compatibility with the platform. The introduction of Firedancer, a powerful validator client, is anticipated to enhance Solana’s performance, possibly reaching over 1 million transactions per second. These upgrades, along with its existing features, position Solana as a formidable player in the blockchain space, ready for further progress and advancements. Solana’s Bullish Trajectory and Price Prediction Solana (SOL) has witnessed a swift rise in price since October 2023, hitting a peak of $126 in December of the same year. This surge continued over the past month, with SOL showing notable growth, climbing by 19.64% against the U.S. dollar. Analysts foresee a promising path ahead for SOL, expecting further upward momentum and a potential parabolic recovery aiming for the next resistance level at $130. Chris Burniske, a former analyst at Ark Invest, has expressed bullish sentiment regarding Solana’s future. He envisions a remarkable threefold increase from its previous peak, suggesting a potential valuation of $750. Despite Solana currently consolidating around the $120 mark, Burniske’s optimistic forecast underscores the significant growth potential of the network. Solana’s Price Projection Amid Cryptocurrency Optimism The recent bullish momentum in Solana mirrors a broader wave of positivity sweeping through the cryptocurrency sector. This optimism found its roots in Bitcoin’s surge, breaching the significant $50,000 milestone. As Bitcoin often sets the tone for market sentiment, its ability to overcome resistance levels could pave the way for rallies in major altcoins like Solana. In light of this market dynamics, cryptocurrency educator Koroush Khaneghah recently offered a price target projection for Solana, setting it at $140. This forecast suggests a potential 30% increase from its current trading level, indicating a bullish outlook for Solana amidst the prevailing market optimism. Solana’s Growing Developer Community and Promising Future Solana’s strength lies in its thriving developer community, boasting over 2,500 active contributors. This sizable community underscores the blockchain ecosystem’s appeal and demonstrates sustained engagement, with a retention rate exceeding 50%. Such active participation fosters an environment conducive to innovation and continuous improvement. The optimism surrounding SOL’s future is supported by notable developments such as Firedancer, a validator client aimed at enhancing Solana’s processing capabilities and facilitating parallel processing. These advancements, combined with airdrops and Solana’s cost-effective and user-friendly network, have instilled confidence among traders. As a result, SOL has been edging closer to its yearly highs, with the potential to establish a new all-time high in 2024. In a recent significant development, Solana announced its integration with Filecoin (FIL), a decentralized network focusing on data storage and processing. This strategic partnership is geared towards enhancing Solana’s block history accessibility and usability for various Web3 infrastructure providers and network actors. By leveraging Filecoin’s expertise, Solana aims to achieve advancements in data redundancy, scalability, and security while upholding decentralization principles. Solana NFTs Surpass Ethereum in Sales Volume In a groundbreaking achievement, Solana NFTs outpaced Ethereum in monthly sales volume for the first time in January 2024. Solana’s NFT sales soared to approximately $366.5 million, surpassing Ethereum’s $353.2 million in December 2023. This milestone underscores a notable surge in user engagement on the Solana platform, evidenced by an increase in both sellers and buyers. The sales volume nearly reached a record-breaking level, closely matching its peak during the bull run in October 2021. Furthermore, Magic Eden, a prominent NFT marketplace within the crypto sector, has announced plans to introduce a reward program on the Solana network. This initiative is anticipated to attract a significant influx of users to the Magic Eden marketplace, consequently driving heightened activity on the Solana network. ⚠️Disclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #Solana #SOL

7 days ago
CryptoPotato
CryptoPotato
followers

The Solana ecosystem is blooming, seeing a significant resurgence as its total value locked (TVL) in its network has surpassed the $2 billion mark. This is a notable recovery from December’s starting point of $688 million, marking a 200% increase in just two months. According to data from DefiLlama, the current TVL on Solana stands at $2.028 billion, a figure last witnessed in June 2022. Liquid staking and yield-generating protocols Jito, Marinade, and Marginfi are behind the recent uptick. Source: DeFiLlama The explosive growth in Solana’s TVL underscores the rising popularity of one of the fastest Layer-1 blockchains, which is now witnessing renewed interest from institutional investors. Solana is currently the top five cryptocurrency by market capitalization, trading at $103 at press time. Despite this short-term fluctuation, the seemingly upward trajectory of Solana’s DeFi ecosystem has reinforced confidence and participation among community members, and market observers believe there’s still a lot of room for growth. If you’re interested in reading about some of the more exciting Solana price predictions, have a look at our recent video: Solana Outpacing Competitors While a large set of Layer-1s are growing organically each month and seeing double-digit inflows into their ecosystems, Solana has drastically outperformed most of its rivals in terms of TVL. However, there’s one metric in which Cardano has outshone Solana. As CryptoPotato reported, Cardano has excelled in several key metrics compared to its rivals. NFT sales on the Cardano network have surged to over $1.6 million in the last week, marking a significant 100% increase. In contrast, Solana’s NFT sales have experienced a 7% decline, totaling approximately $48 million for the same timeframe. Cardano’s native cryptocurrency, ADA, has also demonstrated strong price performance in recent weeks. According to CoinGecko’s data, ADA has experienced a notable 25% price increase over a two-week period. The post Solana (SOL) Smashes a Big Milestone: But What About the Price? appeared first on CryptoPotato.

4 days ago
CRPTOHOLICS
CRPTOHOLICS
followers

SOLANA (SOL) COIN PRICE PREDICTION FEBRUARY 2024 👉Bearish Trend: The current market sentiment for Solana (SOL) is bearish, with indications of a potential downturn. 📢Technical Analysis: 👉 The 14-day Relative Strength Index (RSI) stands at 70.94, suggesting potential overbought conditions. 👉The 50-day and 200-day Simple Moving Averages (SMAs) at $96.55 and $52.68 indicate a possible upward trend in the long term. 👉 Analysts have conflicting views, some foreseeing a breakout from a recent resistance zone, while others anticipate a pullback before further upward movement. 📢Fundamental Analysis: 👉 Solana's appeal lies in its fast transaction speeds and low fees, attracting developers and projects to its blockchain. 👉 The growing popularity of NFTs and gaming on Solana could drive demand for SOL, but concerns about network outages and scalability persist. 📢Overall Sentiment: 👉 Despite short-term uncertainties such as potential overbought conditions and recent price corrections, the overall sentiment for SOL remains bullish. 👉 Analysts predict long-term price increases, emphasizing Solana's positive aspects. 📢Disclaimer: This information does not constitute financial advice. Conduct thorough research before making any investment decisions. #Write2Earn #BTC #TrendingTopic #Write2Earn

7 days ago
TheVRSoldier
TheVRSoldier
followers

The price of Solana (SOL) has been gradually increasing since January 23, updating one local maximum after another. Although it bounced off short-term resistance, it is still trading below long-term levels. Solana forms a double top shape Technical analysis on the weekly timeframe shows that SOL reached a 2023 high of $126 in December but has been falling since then. The decline culminated in a low of $79 in January 2024. Since then, Solana has rallied, producing consecutive bullish weekly candles. It peaked at $119 on February 14, 2024, forming a double top off its 2023 high, and today 19th of Feb, it reached $114.72. The weekly relative strength index (RSI) hints at the possibility of a decline. Although the indicator is above 50, a bearish divergence has appeared on the chart, which often precedes downward movements. What do analysts say? Well-known traders and analysts in the crypto community have a positive assessment of the future trend of SOL. AltcoinSherpa believes that there is no need to expect a serious correction yet: “$ SOL: This is a fancy graph where we see a slow increase. I would expect there to be some sell-off around the highs given the length of time between each peak, but the overall market is only in the green right now. “I’m bullish and I think most will make more dollars just by buying here and sitting on this thing for a few months rather than trying to wait for a 20% correction,” he said. InmortalCrypto noted that Solana has overtaken BNB in ​​market cap, while SamMti believes that a return to $120 would be a good sign for the altcoin. SOL price forecast: should we expect new highs The daily time frame gives a more bullish outlook. This is due to price action, wave calculation and RSI readings. source: coinmarketcap The chart shows that Solana price closed above the $105 resistance area and the RSI rose above 50. The wave calculation indicates that SOL is in the fifth and final wave of an upward move. If correct, the altcoin will reach a local high near the next long-term resistance at $145, which is 30% higher than current values. However, a close below $105 would mean the price is still correcting. Then SOL could fall by 40% to the nearest support at $69. The post Solana (SOL) Price Prediction: Will February Lead to New Highs first appeared on The VR Soldier.

6 days ago
Coinpedia
Coinpedia
followers

The post Solana Price Prediction Teases 50% Upside in SOL Price If This Level Breaks! appeared first on Coinpedia Fintech News With the crypto industry standing at the gates of a trillion-dollar market cap, the altcoins are preparing the stage for the next bull run. As the poster boy of bullish turnarounds in 2023, Solana finds its SOL token price ready for an explosion in 2024.  Reclaiming the psychological mark of $100 and the remarkable growth of its network, the Ethereum-killer is rising ranks. Standing as the fifth-biggest crypto with a $49+ Billion market cap, Solana is the altcoin to watch in this phase of “Pre-Halving Rally.”  Amidst such increasing bullish anticipations and the turnarounds reflecting remarkable growth, Solana’s price prediction hints at a rally to the $500 mark. Will SOL Price Cross Past $115? Source-Tradingview With a bullish month and a rise in demand for Solana amidst the market recovery, the SOL price is sustaining dominance above $100. With an outstanding rise of 23% over the last four weeks and a remarkable jump in trading volume, Solana eyes a bullish breakout.  Further, the weekly price trend showcases a strong resistance at the $115 mark, acting as the neckline of an inverted head and shoulder. Known for its trend reversal, the bullish pattern hints at the new high-powered bull run in Solana.  Despite last week’s candle showcasing the 4.42% jump, the buyers fail to find a bullish closing above the neckline. Delaying the breakout run, the higher price rejection warns of a retest of $100.  Nevertheless, with the market blasting off the bullish engines, the altcoin is setting the stage for a massive jump in the coming weeks or months.  Is The Solana Network Bouncing Back? Amidst the bounce back in the DeFi Space, the Solana network is displaying signs of revival and healthy growth. As it approaches the $2 Billion TVL, the rising number of active users on the Solana Network is a testament to a turnaround. With 21.63 Million users in January 2024 and 12.59 Million till 18th February, it reflects a potential Month-on-Month growth trend continuation.  How High Will Solana Go This Bull Run? With the high anticipations around the inverted head and shoulder pattern, the SOL price is preparing for a bullish breakout. However, the sideline traders are awaiting a bullish closing above $115 in the weekly timeframe for a better confirmation.  Solana can go as high as $158 in case of a positive outcome in the coming weeks. 

6 days ago

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