Tag: Solana

Solana Eyes Price Surge To $220: Breaking Through This Resistance Is The Key

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Solana (SOL), currently positioned as the fifth largest cryptocurrency by market capitalization, is mirroring Bitcoin’s (BTC) recent pattern of recovery, exhibiting a positive trajectory over the past couple of weeks.  Friday’s recent price spike comes on the heels of positive macroeconomic developments from the US Federal Reserve (Fed), which have had a positive impact on the broader cryptocurrency market. 7% Weekly Uptick Amid Economic News In the last 24-hour window, SOL has surged by nearly 4%, showcasing a 7% uptick over the past week. This rebound comes after SOL plummeted…

Solana Dump Far From Over? Whales Continue To Dump SOL

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The Solana dump looks far from over as whales continue offloading their SOL holdings during this market downtrend. The recent shakeup in the crypto space might have also contributed to these whales’ bearish sentiment towards Solana.  Crypto Whale Offloads $16 Million Worth Of Solana In an X (formerly Twitter) post, the on-chain analytics platform Lookonchain drew the crypto community’s attention to a whale who has sold 114,300 SOL ($16 million) on Binance and OKX since August 4. This whale’s most recent sale came on August 20, when they sold 10,000…

Hackers Exploit McDonald’s Instagram to Promote Fake Grimace Coin, Netting $700,000 in Solana

Hackers recently took control of McDonald’s official Instagram account to promote a fraudulent Grimace meme coin, successfully scamming users out of $700,000 in Solana. The attackers also compromised the personal X account of McDonald’s Senior Marketing Director to further spread the scam. Grimace Coin, originally created as a meme token inspired by a social media […] Source CryptoX Portal

Brazil Approves Second Solana (SOL) ETF

According to the CVM database, the new Solana (SOL) ETF, which is in a pre-operational phase, will be offered by Brazil-based Hashdex — a Brazil-based asset manager with over $962 million in assets under management — in partnership with the local investment bank BTG Pactual. Source

Solana (SOL) Continues Sideways Move As Outflows Record $39M

Solana (SOL) has recovered 30% of its price since the Black Monday crash, hovering between the $155-$140 range. Recent reports revealed the Solana-based investment products were among the largest losers last week after registering over $30 million in outflows. The token continued its sideways trajectory despite the negative net flows and memecoin’s trading activity decline over the week. As a result, SOL’s recent performance was praised by some crypto analysts who deem the cryptocurrency a safe bet. Related Reading Solana ETPs See Record Outflows CoinShares’ recent report revealed that last…

Drift brings DeFi-integrated prediction market to Solana

Drift, an on-chain trading protocol, has introduced prediction markets as part of its expanding suite of products. The Solana (SOL)-based platform revealed its new predictions market feature in an announcement on Aug. 19. Drift’s prediction market product will function similarly to Polymarket, offering users the chance to bet on the outcome of events such as the U.S. election. However, Drift’s B.E.T goes a step further by integrating decentralized finance. With Drift’s B.E.T, users can earn yield on their bet trades as the event unfolds and reaches its resolution. Additionally, users…

Solana forms bullish patterns as DEX volume, open interest slip

Solana price has been stuck in a deep bear market as the volume in its decentralized exchanges and futures open interest dipped. Solana (SOL) has risen for two consecutive weeks and was up by over 33% from its lowest point in August. Still, it remains in a bear market after falling by over 30% from the year-to-date high.  Solana’s DEX volume retreats Its price action has mirrored that of other cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), which are all in a bear market.  Solana’s sell-off has happened as the…

Solana $260 Target Beckons As Price Nears All-Time Highs

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Recently, a significant amount of interest—both positive and negative—has been placed on Solana. Experts are highly optimistic about SOL, and crypto analyst Alan Santana once showed his doubt over the token by stating that it might be due for a heavy fall. Related Reading Divergent View On The Stability Of Solana Solana has been impressive regarding the stability within this wild market. A crypto expert named Jelle has echoed the same notion as he referred to the wonderful chart of SOL and explained how this digital asset could reach $260.…

Can Solana Replicate Ethereum’s Run To Reach $1,000? Expert Answers

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A crypto market expert has expressed bullish optimism for Solana (SOL), predicting that the cryptocurrency is currently on track to replicate Ethereum’s historical rise to new highs. As a result, the expert foresees SOL hitting new all-time highs of $1,000 this bullish cycle.  Solana Sets Sights On $1,000 On August 12, a crypto analyst identified as ‘Kaleo’ on X (formerly Twitter) shared his optimistic expectations for Solana’s future outlook during this bull market. Kaleo observes that the Solana’s price chart was currently replicating a pattern previously seen in Ethereum in…