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Solana (SOL), a layer-one blockchain, has had a strong start in 2023, recently recording a 17% gain within a week. The cryptocurrency saw a surge, moving from the $150 support level to over $170 before stabilizing.
The layer-1 cryptocurrency Solana has traded sideways for the past 7 months, struggling to sustain above $200 level. However, as no trend remains the same in tradable assets, the Q4 bullish sentiment could be a suitable opportunity for SOL price to surpass the overhead barrier.
On Crypto Banter's ‘podcast' the analyst opened up about understanding where to take profits is crucial because not all tokens will reach all-time highs. For example, Bitcoin dominance is rising, a good signal for altcoins to surge. As the market transitions from Bitcoin hype to Ethereum and then altcoins, retail investors play a big role.
After a small jump, the crypto space withstood a massive fall, whipping nearly $70 billion from the market. Solana's price had raised above the seven-month descending consolidation and was believed to face a small pullback.
Here's how this $454,000 loss underscores the inherent risks of investing in memecoins.
Solana sees $26 million staked amid a memecoin surge.
The Solana native coin is generating news as it goes against the trend, lately surpassing $176 in a move that has piqued the crypto world's interest. This gain is especially surprising given the sour mood around the crypto just weeks ago, with several analysts predicting the altcoin would suffer.
Transaction-related fees on Solana (SOL) surpassed $11 million on Oct. 24, marking a new all-time high, according to Blockworks Research data. The metric is called “real economic value” (REV), which includes transaction fees and MEV tips for validators.
Arkham Intelligence, the crypto data tracking platform, has expanded its offerings by adding support for Solana's on-chain data. This allows users to track transactions on the Solana network and get notifications when something happens, which was a missing feature for many observing the Solana ecosystem.
Solana (SOL) price has risen 12% over the past week, and recent developments suggest there could be even more room for growth. With the Relative Strength Index (RSI) dropping to 61 from overbought territory, SOL now has space to move upward without immediate selling pressure.
Solana surpasses Ethereum in real economic value as fee revenue surges, driven by memecoin activity.
Solana (SOL) has shown remarkable strength in recent weeks, surging by 32% over the past fifteen days. This impressive price action has positioned SOL as one of the top-performing assets, outpacing Bitcoin and many other altcoins.
Solana (SOL) continues to be the talk of the crypto town thanks to heightened on-chain activity since active addresses are going through the roof.
Solana (SOL) co-founder Anatoly Yakovenko says that the project's biggest competitor is now Coinbase's Ethereum (ETH) scaling solution. In a new interview on the Unchained Crypto YouTube channel, Yakovenko says Coinbase's Base has become Solana's biggest rival due to the amount of network activity.
Solana Telegram bot ecosystem hit a new milestone yesterday, with trading volume reaching $211 million, as reported by Dune Analytics.
The growth has positioned Solana on the path to extending its rally past $200.
In the United States, issuers are seeking to register ETFs for Solana and XRP ahead of the November presidential elections.
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Users can trace large fund movements from certain wallets, obtain real-time trade alerts and gain other information regarding the fifth largest blockchain by market cap.
Bulls aim to knock out Bitcoin's all-time high before the US elections wrap up. Will altcoins follow?
There's a new catalyst forming for Solana, which is up big this week.
A closely followed crypto strategist is suggesting that Bitcoin may soar by triple digits this cycle while one altcoin may even outperform BTC. Pseudonymous analyst Inmortal tells his 217,800 followers on the social media platform X that Bitcoin's cycle top may end up being 164% more than its current value.
Solana has managed to reach its highest daily REV (real economic value) to date (more than $11 million), according to recent data.
Solana has been making headlines with remarkable increases in network activity and interest in its decentralized finance (DeFi) offerings. As the cryptocurrency landscape evolves, many investors are left pondering whether SOL, the platform's native token, could soon reach the significant milestone of $200.
