Tag: Solana

Solana jumps 20% as Cathie Wood lauds its speed and cost over Ethereum

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Solana (SOL) has reached new yearly highs, gaining more than 17% the day after ARK Invest CEO Cathie Wood lauded the network for its efficiency and cost-effectiveness. In a Nov. 15 CNBC interview, Wood described the Solana network as a major infrastructure player in the wider blockchain ecosystem and added it had been doing a “really good job” in the recent market conditions. Wood praised the Solana network for being faster and more efficient than the Ethereum network. “Ether was faster and cheaper than Bitcoin in the day — that’s…

Solana (SOL), Avalanche (AVAX) and dYdX produce double-digit gains as Bitcoin reclaims $37K

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On Nov. 15, several altcoins continued to show strength alongside Bitcoin (BTC), which notched an intra-day high at $37,400. Leading into the week, DYDX, Solana’s SOL (SOL) and Avalanche’s AVAX (AVAX) currently reflect double-digit gains, with each chasing after new year-to-date highs.  The sustained bullish price action from altcoins has led some analysts to declare the arrival of an altcoin season, and at the time of writing, the total market capitalization of the altcoin market has hit a 2023 high at $659.5 billion. Altcoin price rallies typically involve a slew…

Solana (SOL), Once Championed by Sam Bankman-Fried, Shows No Signs of Slowing Down

SOL prices took a drastic hit in November 2022 after a CoinDesk report first drew light to possible cracks in Bankman-Fried’s empire, but sentiment has recovered since the once-crypto titan was jailed and pronounced guilty on seven charges. Meanwhile, wallets linked to the bankrupt crypto exchange FTX, controlled by the debtors group, have an estimated $102 million in SOL tokens to crypto exchanges in the past few months. Moving to exchanges may likely indicate a sale of those tokens on the open market, however, SOL prices have continued to grow.…

Solana Institutional Inflows Surge In One Week, Can The Price Reach $100?

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Institutional inflows into digital asset investment products based on Solana spiked last week, particularly as these investment products saw a 7th consecutive week of inflows.  Digital asset investment products have had inflows since the end of September and throughout October, reflecting the bullish sentiment in the broader crypto market. As a result, inflows into Solana have increased steadily, and last week jumped by 15% compared to the week before.  Solana Institutional Inflows Surge Solana has been on an incredible run recently and has had one of the best price gains…

Solana Is Up 520% In 1 Year: Why Is This Metric Worrying For Bulls?

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Solana (SOL) has been soaring, looking at the performance in the daily chart. At spot rates, the coin is trading above $50, up 520% in the past year when it slipped below $8 following the collapse of FTX, a now-defunct crypto exchange, and Alameda Research, a trading wing linked with FTX and one of the leading crypto market makers. Solana Blistering Rally At The Back Of Dropping Liquidity? Though Solana is “blistering” and at new 2023 highs, Kaiko, a crypto analytics platform, is concerned about the disparity in liquidity in USD…

Solana Price Regains Momentum As FTX Sell-Off Ends

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After a significant dip to $51.27, Solana (SOL) is currently witnessing a notable recovery in its market price, currently trading at $55.31 (up 7%). This upswing follows a period of intense volatility, with SOL reaching a peak of $63.80 last Saturday, marking an impressive 270% rally over 61 days, only to drop almost 20% subsequently. The FTX Factor In The Solana Price Movement FTX has probably been a significant influence on SOL’s price volatility. A report from Lookonchain, an on-chain analysis service, indicates that FTX’s liquidity in SOL has drastically…

Altcoins to Watch Out for as Bitcoin, Ethereum, Solana Cool Off after Impressive Rally

Bitcoin and some large-cap altcoins have experienced significant resistance in the past few days pushing crypto traders to small-cap and meme coins’ speculation. The crypto cash flow has been moving from Bitcoin (BTC) and large-cap altcoins like Ethereum (ETH), Solana (SOL), and Chainlink (LINK) to small-cap and meme coins as indicated by the traded volume. According to market data provided by Binance-backed Coinmarketcap, the daily average traded volume for meme coins was up approximately 121 percent to around $3.2 billion. On the other hand, Bitcoin and Ether’s trading volume had…

Why is Solana (SOL) price down today?

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Solana’s native token, SOL (SOL), experienced a remarkable 58.6% surge in just five days, reaching a $64 high on Nov. 11. However, the subsequent two-day retracement of 11.3% to $54 has prompted investors to question whether this signals a fading bullish momentum or merely a temporary price adjustment. To put SOL’s performance into context, it can be compared with other leading altcoins. Since its peak on Nov. 11, Avalanche’s AVAX (AVAX) has rallied by 17%, Ether (ETH) gained 1%, and BNB (BNB) traded down 2%. This comparison underscores that SOL…

Solana Shines 40% Toward $60 As Whales Make Big Moves

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Undoubtedly establishing itself as a standout performer in the expansive altcoin market, Solana has achieved exceptional growth over the course of the past year, marking an impressive surge of nearly 300%. This remarkable ascent underscores Solana’s resilience and appeal within the cryptocurrency landscape. The cryptocurrency has not merely kept pace but has outpaced many of its counterparts, solidifying its status as a noteworthy investment choice. Presently exchanging hands at approximately $58, Solana exhibits an impressive display of relentless upward momentum, notably experiencing a noteworthy 40% surge in value within the…