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Category: SOLUSDT

Solana Drops Close To 20%, Imminent Rebound Or Start Of Correction?

Solana has been caught in the crossfire as investors woke up to a bloody Monday due to hurdles in the Asian markets. The top cryptocurrencies by market cap are in the red recording moderate to heavy losses in the 24-hour chart. Solana Follows The General Sentiment In The Crypto Market At the time of writing, Solana (SOL) trades at $143,53 with a 10.9% loss in the daily chart. In the weekly chart, the cryptocurrency is amongst the worst performers on the crypto top 10 with a 17.9% loss. After Solana, Polkadot (DOT) is the closest to record similar losses for the weekly chart with 17.6%, followed by Cardano (ADA) with 17.1%, XRP with 16.5%, and Binance Coin (BNB) with an 11% over the same period. Bitcoin and Ethereum outperformed other cryptocurrencies on the weekly chart, with BTC recording only a 4.7% loss. Solana dropped during the weekend following a long period of profits and an-all time high north of the $200 mark. As it has happened in the past, investors seemed to favor BTC and ETH, the largest cryptocurrencies, in expectations of further downside in the macro-economic outlook due to the potential risk of default by Chinese real estate developer titan, Evergrande. Related Reading | Bitcoin Price Sinks 10% As Market Braces For Macro Storm Ahead As seen below, the China 5-year credit default swap has increased, according to data shared by ZeroHedge. This suggests that many investors are betting on the possible failure to honor its financial commitments by the Asian giant. However, Primitive Crypto founder Dovey Wan believes the opposite. Commenting on the Evergrande situation, Wan highlighted that the Chinese market and its companies operate differently than those in the West. Therefore, she expects the situation with the real estate to not escalate to the point of Lehman Brothers, the financial services firm that defaulted in the U.S. during the 2008 economic crisis. Wan said: Evergrande is not a vapor financial co, tho it’s high leveraged real estate developer sill retains good trunk of property/lands+ good cash flow biz like property mgmt co on its book. The situation can trigger macro panic but the substantial threat is far less than Lehman. Bitcoin Holds The Key For Solana In The Short Term? In previous bearish momentum for the crypto market, most of the assets followed Bitcoin. Therefore, BTC’s price could determine what happens to Solana in the near future. BTC stands on critical support in the daily, trading at $43,855, and could find its next support in the high area of $30,000 potentially returning to its previous range. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course However, Solana (SOL) has demonstrated resilience in that scenario, and it could potentially become one of the few cryptocurrencies capable of enduring another major sell-off.
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Solana ($SOL) Mainnet is Back Online, Here’s What Happened?

Solana ($SOL) network’s bullish momentum came to an abrupt halt after the mainnet beta experienced a transaction glitch. The glitch led to very high transaction frequency up to 400,000 transactions per second. These transactions flooded the transaction queue but the absence of prioritization of network-critical messaging led a to fork in the network which in

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Solana, Cosmos Price Analysis: September 14, 2021

Solana leads altcoins into recovery after testing support at $150. Cosmos keeps the weekly run to new all-time highs intact while bulls look forward to juping above $40. Most altcoins continued with last week’s dumping on Monday, accentuated by Bitcoin’s dip below $44,000. However, Solana and a few selected crypto assets stayed in the green,

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SOL Price Analysis: As long as Solana (SOL) Holds this Trend, Prices to Rise Back Near $200.

SOL price is up nearly 28% over the last week SOL Price is dangling on its near 3 week support trend 40MA has continued to act as support Can Solana (SOL) Beat Ethereum in Its Own Game? Solana (SOL) has outperformed nearly all other top 100 coins over the last few weeks as prices have

The post SOL Price Analysis: As long as Solana (SOL) Holds this Trend, Prices to Rise Back Near $200. appeared first on Coingape.

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Solana (SOL) Strikes $210 Toppling Ripple’s XRP for the Sixth Rank

It’s been an unstoppable journey for Solana (SOL) over the last few weeks. Despite the overall crypto market staying under pressure, Solana has added another 20% gains smashing past $200 and hitting a new all-time high. As of press time, SOL is trading 20% up at a price of $210 and a market cap of

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SOL Price Analysis: Solana (SOL) Falls 35% From All Time High, Here Are the Levels to Watch?

SOL  price has fallen over -35% from its ATH set this week SOL Price has formed a broadening wedge 30MA continues to act as support Will Bulls Hold? Solana (SOL) price has been one of the best performing coins over the last few weeks as prices have risen from $70 to $190 in a little

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Resisting Battering: Solana Stands Strong Amid Crypto Market Flash Crash

The past 12 hours have been a mind-boggling one for crypto market bulls as massive liquidations struck the digital currency ecosystem. According to data from Bybt, a total of over 364,00 traders have been liquidated in the past 24 hours with more than $3.41 billion worth of trades liquidated in the past 24 hours. As

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Led By Litecoin, Mid-Cap Altcoins Bleed With Bitcoin

Litecoin awoke from a month-long slumber to follow the general sentiment in the market. The price of LTC broke above the $200 resistance, only to drop with the crypto market flash crash. At the time of writing, Litecoin trades at $181 with a 17.31% loss in the daily chart. The market seems to be reacting to the events triggered by El Salvador making Bitcoin legal tender. Whales could have used the bullish sentiment to push down the prices, triggered liquidations, and entered new positions. Despite the crash, Analyst Ali Martinez believes Litecoin could reclaim its bullish momentum. Since the beginning of August, the number of unique addresses that joined the network reached a higher high, the analyst said. As seen below, this metric stood at 220,000 new addresses created on September 6th alone. The Number of New Addresses from Glassnode is useful to measure the number of users with fresh capital coming into LTC and “could be interpreted as a sign of optimism”, Martinez said. In addition, large investors went on a “buying spree” with the number of addresses holding 10,000 to 100,000 adding over 720,000 LTC in the past 30-months. This coincides with the increase in the price of Litecoin, as seen below. Further data provided by IntoTheBlock records around 170,000 addresses that bought 3 million Litecoin when the price was at $222. Martinez believes this is the next major resistance, LTC’s price must recover and rise above it to push into previous highs. Support is bigger than resistance in terms of volume. Still, prices must slice through $222 to advance further. Litecoin, Solana, Polkadot, Follow The Bearish Trend Almost no altcoin in the top 20 by market cap has been able to hold its gains. Litecoin is one of the worst-performing in the past day, followed by Internet Computer (ICP) with a 23% loss, Polkadot (DOT) with a 17.3% loss, Cardano (ADA) with a 16.6% loss. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course These altcoins have shown resilience to previous downside trends. Only Solana (SOL) records a 10.7% profit in the daily chart on the back of the growth of its ecosystem. In the short term, Bitcoin could determine the fate of the entire market. Litecoin displays solid fundamentals for a recovery, but BTC losing key support at $43,000, could potentially triggered another leg down to its previous range around the high levels of $30,000.
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Solana (SOL) Shoots 20% to $175 As Total-Value-Locked (TVL) Hits $5.75 Billion

Ethereum-competitor Solana (SOL) has been on an unstoppable market rally. As of press time, Solana has gained another 22% hitting its new all-time high of $174.75. After toppling Dogecoin (SOGE) for the seventh spot, Solana is now closing the gap with Ripple XRP as its market cap crosses $50 billion for the very first time.

The post Solana (SOL) Shoots 20% to $175 As Total-Value-Locked (TVL) Hits $5.75 Billion appeared first on Coingape.

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Raydium (RAY) Price Analysis: Solana Based RAY Up 30% Over Last Week, Next target $15?

RAY is up over 30% the last week Price has formed an ascending channel RAY is being held up by the 40 MA SOL Gang is On Rise Raydium (RAY) is a new token that was launched in early 2021. Raydium (RAY) just underwent a Binance listing in mid August which has caused a healthy

The post Raydium (RAY) Price Analysis: Solana Based RAY Up 30% Over Last Week, Next target $15? appeared first on Coingape.

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Solana (SOL) Skyrockets To New Highs Following The Ignition Hackathon

Solana (SOL) took the crypto market by storm when it smashed an all-time high of $145.97 today.  Since early 2021, Solana has demonstrated an aggressive bull rally. The token nailed a whopping growth rate of over +7,500%, acquiring a massive market capitalization of over $41 billion. Very recently, Solana dethroned $DOGE and became the seventh

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Axie Infinity (AXS) Price Analysis: AXS Forms Pennant Near All Time High, What’s Next?

AXS is down nearly -10% over the last week Price has formed a bullish pennant AXS has been held by 120MA for 2 months Axie Infinity (AXS) has experienced an amazing amount of growth over the last few months as the NFT market has surged to record highs. The game, Axie Infinity, is an NFT

The post Axie Infinity (AXS) Price Analysis: AXS Forms Pennant Near All Time High, What’s Next? appeared first on Coingape.

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Solana, Chainlink Price Analysis: September 3, 2021

Solana springs to a new all-time high at $136; investors believe the rally is far from over. Chainlink steps above $30 for the first time in September as the mission to $40 gains momentum. Bitcoin bulls stepped up their game on Thursday, leading to a price increase above $50,000. As reported earlier, the upswing was

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SOL Rally Sparks the Debate, Is Solana Better Smart Contract Platform Than Ethereum?

It has been a dramatic bull run for Solana investors during the last month of August 2021. On Tuesday, August 31, the SOL price surged all the way hitting a new all-time high of $129 and becoming the eighth-largest cryptocurrency by market cap. As Solana (SOL) makes way to the coveted ‘top ten crypto’ club,

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Layer 1 Crypto Token Surge Brings 200% Gains During August

Arcane Research recently published a crypto market update and explored the rise of layer 1 tokens over the past 30 days. The season of “ETH Killers” as the research firm and many others have called them. Although the second cryptocurrency by market cap was leading the crypto market up until a few weeks ago, its competitors have been gaining traction, smashing all resistance towards new all-time highs. As seen in the chart below, some layer 1 tokens in the crypto market have experienced massive rallies in August. Solana (SOL) leads the chart with a 221% rally, followed by Terra (LUNA) with a 217% rally, Fantom (FTM), and Avalanche (AVAX), sit at the last spots of the biggest layer 1 tokens with a 215% and 210% rally, respectively. Binance Coin (BNB, 38%), Ethereum (ETH, 28%), and Polygon (MATIC, 22%), also made the cut with important profits in the same period. Crypto exchange Binance’s token slowed down on its late 2020 rally. Similar to SOL, LUNA, and AVAX, BNB surged on the back of the DeFi boom as users migrated to the Binance Smart Chain ecosystem due to its high fees. Solana seems to have taken part in its market share. Arcane Research noted the increase in this token’s market from $9.5 billion to $35 billion in one month. SOL climbed its way to the 8th position in the crypto top 10 by market cap. The report attributes SOL’s appreciation to its high throughput of 50,000 transactions per second with low fees when compared to Ethereum. This has made Solana attractive for developers. As NewsBTC reported, some experts believe SOL will be one of the best performing crypto assets of 2021. Despite its 221% rally in August, there seems to be room for more appreciation based on the token’s growing fundamentals. Ethereum, King Of Crypto In The DeFi Sector The DeFi and the increase in adoption of the non-fungible tokens (NFTs) sector could determine which crypto will dominate the market in the coming months. In that sense, the total value locked (TVL), a controversial metric due to its “sketchy” accuracy, in Solana recently surpassed the $2 billion mark. However, Arcane Research claims that no layer 1 network will be able to outperform Ethereum in terms of DeFi market share. Data from DeFi Pulse record a TVL of $89 billion for all DeFi protocols. The Ethereum network has supremacy in this sector, the most popular dApps are hosted on its ecosystem. Aave, MakerDAO, Curve Finance, Compound, Uniswap, Yearn Finance, SushiSwap. These protocols have a total value locked (TVL) ranging from $4.2 to $15.86 billion. The smallest DeFi protocol in the Ethereum top 10 by TVL has double that held on Solana, Arcane Research claimed: ETH has experience growing transaction fees amid the NFT frenzy, possibly attracting more users to other chains. However, in the ecosystem overall, Ethereum remains the clear leader, and it seems unlikely that any other protocol will dethrone Ethereum’s position in the near future. At the time of writing, ETH trades at $3,398. The second crypto by market cap has a 5.2% profit in the daily chart.
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Solana Surges 20% to New All-Time High, Is SOL token Burning coming Today?

Dodging the broader market correction, Solana (SOL) continues to make new highs in the market. Over the last 24 hours, Solana (SOL) has surged another 20% making a new all-time high of $199. As of press time, Solana’s SOL token is trading 20.30% up at $118. With a market cap of $34.3 billion, Solana also

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Solana, Cosmos Price Analysis: August 31, 2021

Euphoria and FOMO drive Solana price to the moon, closing in on $120. Cosmos deals with a critical barrier at $24, but gains to $28 are in the cards. Solana is on another level of a bull cycle, rallying 450% from July lows. The token exploded past $100 last weekend and barely a day after

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SOL Price Analysis: Solana (SOL) Blasts To New All Time High, Time to Book Profits?

SOL rice has risen over 250% the last month SOL Price has been supported by the 15 MA A bearish divergence may put this rally at risk Time to Book Profits Or Hold? Solana price has been one of the strongest coins in the top 100 over the past month. Prices have surged off the

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Solana ($SOL) Defies Bearish Market Trends to Post New ATH, is $100 Next?

Solana ($SOL), the tenth-largest cryptocurrency by market cap continued its bullish momentum and posted another ATH of $84.00 earlier today. The altcoin gained 24% over the past 24-hours even when most of the crypto market moved sideways, recovering from yesterday’s correction. SOL was the only altcoin in the top-10 to have recorded a double-digit gain.

The post Solana ($SOL) Defies Bearish Market Trends to Post New ATH, is $100 Next? appeared first on Coingape.

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Solana, Cardano Price Analysis: August 26, 2021

Solana soars another 14% and trades a new all-time high of $84. Cardano risk another dip toward $2 if the MACD confirms a sell signal in the short term. The cryptocurrency market is still red on Friday, especially for the top fifty cryptocurrencies. As discussed, Bitcoin is holding at crucial support, provided by the 200-day

The post Solana, Cardano Price Analysis: August 26, 2021 appeared first on Coingape.

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