Tag: Solana

Solana GameStop Soars 300% Following Roaring Kitty’s Post

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After two silent weeks, Roaring Kitty’s latest roar has shaken the crypto market. The renowned trader has again set the world ablaze after revealing his substantial 5 million GameStop shares holdings. Following his posts, GameStop’s shares soared in the premarket by 90%, and the Solana-based tribute token, GME, skyrocketed by 300%. Related Reading Roaring Kitty’s Return To Reddit Sets Market On Fire On Sunday night, Keith Gills, known as Roaring Kitty, returned from a two-week hiatus. The trader, known for his role in the GameStop saga, wreaked havoc after posting…

Can Solana (SOL) Overcome Key Resistance and Ignite a Fresh Increase?

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Solana declined again and tested the $160 support zone. SOL price is consolidating and might recover if it clears the $166 resistance zone. SOL price corrected lower and tested the $160 support zone against the US Dollar. The price is now trading below $168 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $165 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could clear the $166 resistance unless it fails to stay above $160. Solana Price…

Ripple CEO Says XRP, Solana, Cardano ETFs Are ‘Inevitable’

Ripple CEO Brad Garlinghouse foresees the emergence of exchange-traded funds (ETFs) for cryptocurrencies beyond bitcoin and ether, following the U.S. Securities and Exchange Commission (SEC) approval of spot bitcoin and ethereum ETFs. At the Consensus 2024 event, he stated: “I think it’s just a matter of time, and it’s inevitable there’s gonna be an XRP […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Analyst Predicts Stellar Rise For The Solana Memecoin

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The meme coin market is back in the spotlight, and BONK is no exception. The dog-themed token has seen a price surge of over 40% in the last month, mirroring a broader trend among its rival meme coins. Related Reading This recent rally comes amidst positive sentiment surrounding the crypto market, fueled in part by the long-awaited approval of an Ethereum ETF. Analysts are cautiously optimistic about BONK’s future, with some predicting a potential return to its all-time high. Analyst Bullish On New ATH For BONK Renowned crypto analyst CryptoJack…

Metaplex Announces Introduction of Hybrid Defi Protocol for Solana

Metaplex, a Solana-based protocol that allows for the easy deployment of NFTs across applications, has introduced MPL-404, a hybrid decentralized finance standard. MPL-404 leans on SPL-404, a protocol that allows for the exchange of an NFT for a fixed number of tokens assigned by the designers of each artistic collection. Metaplex Aims to Extend Hybrid […] Source CryptoX Portal

Solana Tokens Issued by Caitlyn Jenner, Iggy Azalea, Davido Are Down 80%, With Early Buyers Minting Money

Nigerian record producer Davido’s DAVIDO token netted early buyers a profit of nearly $470,000 worth of Solana’s SOl tokens in just 11 hours, on-chain firm Lookonchain flagged, from just over $1,000 in initial capital. This analysis was done by tracking the deployer of the original token, counting how many tokens they acquired after issuance and the sales in the hours afterward. Source

PayPal Chooses Solana Blockchain For PYUSD Integration, Citing Speed And Low Fees

Online payment company PayPal is set to integrate its PayPal USD stablecoin (PYUSD) into the Solana (SOL) blockchain, which is increasingly becoming the preferred choice for memecoin issuers.  This move follows the successful launch of PYUSD on the Ethereum (ETH) blockchain and its subsequent addition to PayPal’s Venmo peer-to-peer (P2P) payments service. According to Bloomberg, the decision to join Solana was driven by the blockchain’s speed and low transaction fees.  Expanding PYUSD’s Reach In The Memecoin Market Solana’s transaction processing capabilities, currently measuring 1,423 transactions per second (tps) according to…

Paypal Expands PYUSD to Solana Blockchain for Better Payment Solutions

Payments giant Paypal has made Paypal USD (PYUSD) available on the Solana blockchain, making the stablecoin “faster and cheaper to use.” Platforms like Crypto.com, Phantom, and Paxos are among the first to offer PYUSD on Solana, alongside Paypal and Venmo wallets. Paypal Makes PYUSD Available on Solana Blockchain Paypal Holdings Inc. (Nasdaq: PYPL) announced at […] Source CryptoX Portal

Solana Remains Institutional Investors’ Favorite, YTD Flows Ramp Up To $29 Milion

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Solana (SOL) is rapidly gaining the attention of institutional investors, who are increasingly showing a strong interest in this crypto token. This trend underscores the possibility that Solana could be the next in line to launch its Spot ETF, a development that could significantly impact the crypto token’s price.  Solana Investment Funds Record Year-To-Date Inflows Of $29 Million According to CoinShares’ latest weekly report, Solana investment products currently boast a year-to-date (YTD) net inflows of $29 million. Last week, these funds saw net inflows of $8 million. Meanwhile, these Solana…