Solana Looks Overbought Against Ethereum; BTC-Gold Ratio Stuck in a Downtrend
The SOL/ETH pair trading on Binance looks overbought after four-month winning trend.
Keep up with what's happening in the crypto world in real-time.
The SOL/ETH pair trading on Binance looks overbought after four-month winning trend.
The venture capital firm just released its "State of Crypto" report, and Solana stole the show.
Ethereum co-founder Vitalik Buterin has recently shared a plan to improve the gas fee structure that can boost ETH's transactions per second (TPS) by 1.5x amid the rising competition from the Solana blockchain. Buterin said that this would help to improve the transaction efficiency without compromising the network performance.
Solana price rose to twelve-week highs on Thursday, going against a market-wide struggle to stay on course for a third successive day of gains. The crypto coin traded at $173.36 at the time of writing, with gains of 1.5 percent on the daily chart.
Solana continues to offer the best returns in the crypto market, surpassing even the performance of Bitcoin and Ethereum.
Dominance refers to the ratio between the market capitalization of BTC to the total market capitalization of all cryptocurrencies combined and is often used as a gauge for market sentiment. PLUS: Some Solana tokens are up as much as 70%.
Solana price could be edging closer to ending its six-month sideways movement and hinting at a massive rally. Adding credence to this outlook is an expert who issued a “final warning” as he expects SOL to soar by double digits in under two weeks.
Crypto Price Today: The global cryptocurrency market continues its cautious ascent, with a modest 0.12% increase in the last 24 hours, bringing the market cap to $2.32 trillion. Despite this uptick, the 24-hour volume surged by 17.69%, hitting $83.76 billion. The Fear & Greed Index holds steady at 52, reflecting neutral market sentiment.
The cryptocurrency market is facing sustained selling pressure, leading to a shift in overall sentiment towards a downtrend. However, Solana (SOL), the fifth-largest cryptocurrency by market capitalization, is beating the trend as it gains attention from investors. Despite the bearish environment in the crypto market, SOL prices jumped 5% over the last 24 hours.
Ethereum Layer-1 competitor Solana (SOL) is making waves with a rapid surge of daily revenue on the platform. As a result, the SOL price has shot up 5.62% as of press time moving all the way to $174 and a market cap of $82 billion.
Solana is on track to becoming the second-largest network by DeFi TVL
The ongoing selling pressure across the cryptocurrency market has shifted the overall sentiment toward a downtrend. In this, Solana (SOL), the world's fifth biggest cryptocurrency by market cap is gaining notable attention from crypto enthusiasts as it holds itself positive in terms of price changes in the past 24 hours.
Pump.fun's new tokenized video feature was almost immediately misused to share child sexual abuse material, which has been removed.
Elmnts launched a platform on Solana for tokenized mineral rights investments, giving exposure to real-world assets.
Bitcoin's correction ignited selling in altcoins, which are slipping below critical support levels.
Solana was the best-performing asset in the CoinDesk 20 Index through the week, advancing 11%, while BTC and ETH declined.
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Solana's TVL hits a 2-year high at $6.433 billion, driven by DeFi growth.
Solana (SOL) is holding strong above the $160 mark after the broader market experienced a healthy dip to previous demand levels. Despite the dip, Solana has shown resilience, though the past few hours have been marked by short-term volatility with rapid price fluctuations.
Are we witnessing a major shift in blockchain adoption as Solana's user numbers skyrocket, or will Ethereum's continued dominance in high-value applications keep it ahead in the long run? Solana's massive comeback Solana (SOL), one of the most promising blockchain
As whales back certain cryptocurrencies, three standout projects are gaining momentum and showing potential for massive gains before November. Investors are optimistic about the growth, predicting that a $1,000 investment could skyrocket to $100,000.
Layer 1 (L1) blockchain Solana (SOL) has witnessed a notable surge in user activity over the past month. The chain's daily active address and transaction count have skyrocketed by double digits in the past 30 days.
In the latest speculation around Solana price, an analyst said an upcoming breakout would “feed generations” after a signal that could send SOL to $2,000 appeared. With recent movements stirring excitement in the crypto space, traders and analysts are speculating on the potential of SOL to reach these heights.
The institutional investment sector is about to undergo a revolution thanks to the launch of Elmnts, an innovative project by Solana that allows investment in funds backed by oil and gas royalties.