Cryptocurrency Rates Surge: Bitcoin, Cardano, TRX, MATIC, Litecoin, and Solana Experience Significant Growth
Most coins have seen a significant increase in their rates, as per the CoinMarketCap ranking. Bitcoin's rate has gone up by 2.23% in the last 24 hours and is currently trading near the resistance at $31,500. Cardano has seen a rise of 20%, but may witness a correction to the $0.32-$0.34 area soon. Solana has seen the biggest increase, with a blast of 26% in the last 24 hours, and may test the $35-$40 zone by the end of the month if bulls hold the price above the resistance at $26.80.
Solana's Q2 Decline: Decreased Activity, Fees, and Stakers as SEC Lawsuits and Delistings Take Their Toll
Solana experienced a challenging Q2 with a decline in network activity and fees, leading to a loss of interest from stakers. The network faced obstacles such as the FTX debacle and downtime, but managed to gather momentum in Q1 2023.
Ethereum Tops Inaugural Institutional-Grade Crypto ESG Ranking, Bitcoin Lags Due to Energy Usage
Ethereum, Solana, and Cardano topped the first institutional-grade crypto ESG ranking, while Bitcoin lagged due to its heavy energy usage, according to a report by CCData and the Crypto Carbon Ratings Institute. The report evaluated 40 of the largest digital assets based on parameters such as decentralization, security, and climate impact.
Solana Breaks Long-Term Resistance Line, Signals Potential Bullish Trend Reversal
Solana (SOL) has achieved a significant breakthrough by breaking both long-term and short-term resistance lines, indicating a shift in market dynamics. This breakthrough suggests that the selling pressure that previously impeded its progress has weakened or been overcome by increasing buying pressure, potentially leading to an upward surge in value and a new bullish trajectory.
Crypto Analyst Predicts Short Squeeze for Binance Coin (BNB) – But There’s a Big Catch
Crypto strategist Jack predicts that Binance Coin (BNB) will experience a short squeeze due to bears betting on sustained downside price action. Jack believes that BNB is likely to bounce back as it trades close to its support at $230, and that bears will serve as fuel for the short squeeze.
Solana (SOL) Witnesses Remarkable Recovery, Surges by 10% Amidst Increased DEX Volume
Solana (SOL) has seen a significant increase in value in the past week, with a 10% rise in price to $21.80. This rise is likely due to several factors, including increased DEX volume and success in adoption by some ecosystems. However, the Total Value Locked (TVL) has not reacted to this uptrend, remaining stagnant at around $275 million. Technical indicators suggest that SOL is likely to continue its positive price action, but a decline below $20 in the short term is possible due to external market conditions.
SOL's Bullish Run May Be Coming to an End as Sell Pressure Looms: Price Prediction for 2023/2024
Solana (SOL) has experienced a bullish performance in the last three weeks, rallying by over 70% from its lowest price point on June 10. However, recent observations suggest that the cryptocurrency may be facing sell pressure as it is now overbought and has broken through long-term descending support.
Over $1 billion in funds flow into Solana in one day
To date, Solana controls a market capitalization of $8.96 billion, reflecting inflows of $1.02 billion in the last 24 hours. SOL is currently valued at $22.17, up nearly 12% daily.
Analytics Firm Issues Warning, Says Ethereum Rival That's Up Over 150% Year-to-Date Losing Steam
Crypto analytics firm Santiment has warned that Solana's recent rally may be losing momentum after being propelled by the liquidation of shorts. The firm suggests that the best time to have bought into Solana was during the second week of June when funding rates had bearish spikes.
Solana's Trading Volumes Surpass $300 Million Amid Positive Developments in NFT Sales Sector
Solana, a blockchain platform known for its fast transactions and scalability, has been gaining attention in the cryptocurrency market with trading volumes exceeding $300 million. Despite a lackluster performance in Total Value Locked (TVL), the recent surge in Solana's transaction volumes and positive developments in the NFT sales sector have been notable. The positive sentiment and long position preference towards Solana suggest a favorable outlook for its future.
