Tag: Solana

Bearish Wave Hits Solana: SOL Drops Below $140 – More Losses On The Horizon?

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Solana, a leading blockchain platform, is experiencing a significant downturn as a persistent bearish wave sweeps through its market. This decline, driven by a combination of factors, has led to SOL’s price suffering a huge drop below the $140 support mark.  Solana’s price has struggled to find stability, breaking through key support levels and signaling further potential losses. As bearish sentiment continues to dominate, traders and investors are closely monitoring the situation, seeking signs of a possible reversal or additional declines in the near future. Technical Indicators Signal Further Losses…

Solana Records New Monthly User High Amidst Persistent Price Drop

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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active…

3iq Files to Launch Solana Exchange-Traded Product in Canada

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3iq Digital Asset Management has announced that its solana fund has filed a preliminary prospectus for an initial public offering in Canada. The fund aims to become the first solana (SOL) exchange-traded product (ETP) in North America. Its objectives include providing exposure to the cryptocurrency, long-term capital appreciation, and staking yield. The Fund Seeks to […] Source

Canada’s 3iQ Files to List Solana ETP in Toronto

“Our goal is to continue pushing the envelope and maintaining Canada as an innovation hub. The Solana ETP will have staking enabled, similar to our Ether ETPs, allowing us to pass through the yield to investors,” Christopher Matta, a Strategic Advisor to 3iQ, told CoinDesk in a phone interview. Source

Solana Could Face A 41% Crash: Mechanism Capital Co-Founder

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Andrew Kang, co-founder of Mechanism Capital, voiced concerns over the potential volatility and impending price correction of Solana (SOL) in a market analysis posted on X. His comments come amid a broader dialogue concerning the delayed second wave of US spot Bitcoin ETFs, which he now anticipates could be pushed back by one to two quarters. He states, “I believe the timeline for this is delayed by 1-2 quarters. Some market views. Experts now suggest that solicitation approval/ETFs added to wealth management platforms is slated for Q4 instead of late…

Novogratz’s Galaxy Digital set to overtake Coinbase as largest Solana validator

Galaxy Digital, the digital bank founded by Michael Novogratz, is poised to become the largest validator in the Solana network. Galaxy Digital, a global crypto-focused financial services firm founded by Bitcoin bull Michael Novogratz, is set to surpass Coinbase as the largest validator in the Solana network, marking a significant milestone in the competitive world of blockchain validation. Galaxy just got 3M in SOL staked to them — meaning they will become the new #1 validator on Solana in ~16hours, overtaking Coinbase almost certainly due to the FTX estate sale…

Solana Down 40% But Analyst Says Now’s The Time To Buy SOL

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Solana, one of the top altcoins, trailing Ethereum and the BNB Chain, has not been spared in the recent correction. After rallying to as high as $210 in Q1 2024, the coin is now sliding, facing strong headwinds, plunging, and following the performance posted by Bitcoin and Ethereum. Is This The Best Time To Buy Solana? Even amid this deep retracement, Raol Pal, a macro analyst, thinks this is the best time for investors and traders to consider Solana. In a post on X, Pal said traders may look at…

Is Solana A Good Buy? Finance CEO Predicts ‘Magnificent’ Autumn Rally

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Raoul Pal, the co-founder and Chief Executive Officer (CEO) of Real Vision, a financial media platform, has indicated that Solana is on the brink of reversing its bearish trends. The financial expert has predicted a “magnificent autumn rally” for the cryptocurrency in this market cycle.  Solana To Witness Major Autumn Rally Solana’s recent downward trend could potentially signal a great buying opportunity for investors who remain optimistic about the cryptocurrency’s future outlook. Being a popular supporter and long-term investor of Solana, Pal has expressed confidence in the cryptocurrency’s ability to…

Bitcoin, Solana Suffer As Institutional Investors Pull $600 Million Out Of Crypto Funds

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Crypto funds witnessed outflows last week after recording five weeks of consecutive inflows. According to CoinShares data, digital asset funds saw $600 million in net outflows for the week ending June 14. The outflows were concentrated in Bitcoin and Solana funds, which saw $621 million and $0.2 million exits, respectively. These outflows come amidst a corresponding drop in the price of Bitcoin throughout the week and a more hawkish-than-expected Federal Open Market Committee (FOMC) meeting held during the week. Crypto Funds Bleed Largest Since March, With Bitcoin In The Lead…

Sonic, Gaming-Focused Layer-2 Chain on Solana, Raises $12M

The money will be used for growth initiatives for the Sonic protocol, which comes with “built-in mechanisms designed specifically for game development and execution on Solana, such as a sandbox environment, customizable gaming primitives and extensible data types, all while boasting the fastest on-chain-gaming experience,” according to the press release. Source