Tag: Solana

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Solana price just one breakdown away from a 40% slide in June — here’s why

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Solana (SOL) is nearing a decisive breakdown moment as it inches towards the apex of its prevailing “descending triangle” pattern. SOL’s 40% price decline setup Notably, SOL’s price has been consolidating inside a range defined by a falling trendline resistance and horizontal trendline support, which appears like a descending triangle—a trend continuation pattern. Therefore, since SOL has been trending lower, down about 85% from its November 2021 peak of $267, its likelihood of breaking below the triangle range is higher. As a rule of technical analysis, a breakdown move followed by…

Solana Ventures Launches $100 Million Fund Focused on Web3 Projects in South Korea – Bitcoin News

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Solana Ventures has revealed the launch of a $100 million fund dedicated to Web3 startups in South Korea. According to Solana Labs’ general manager Johnny Lee, the capital will be dedicated to non-fungible tokens (NFTs), decentralized finance (defi), and game finance (gamefi) development. Solana Ventures Reveals $100 Million Web3 Fund Dedicated to Finding Talent and Innovative Startups in South Korea Proponents behind the smart contract protocol Solana plan to expand into South Korea by offering a Web3 fund worth $100 million to startups and developers creating Web3 projects. Solana Labs’…

Solana Ventures sets up $100M fund for GameFi and DeFi in South Korea

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Solana Ventures and the Solana Foundation have formed a $100 million fund to help support the growth of nonfungible token (NFT), blockchain gaming and decentralized finance (DeFi) projects in South Korea. In addition to supporting projects built on Solana (SOL), the fund will help keep some Terra-based projects afloat following the collapse of that ecosystem last month. The Solana Foundation believes the developers from Terra should not be held responsible for what happened on the blockchain network. In an interview reported by Bloomberg on June 8, general manager for games…

Solana Retraced 8% On The Chart, Is It Eyeing $30?

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Solana plummeted substantially over the last 24 hours and was inching towards its crucial support line. The technical outlook of the coin continued to reflect bearishness. Few days ago though, the coin had attempted to bring the bulls back. At the current moment, SOL was back to trading near the August 2021 level. Buyers also left the market as the bulls were defeated. Price of the coin has now found support on the $38 price mark. With the bears exerting pressure and causing sellers to dominate the market, Solana might…

Sold your SOL? Solana price eyes 35% jump as two technical signals flip bullish

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At least two technical indicators show Solana (SOL) could undergo a sharp price recovery in June, even after the SOL/USD pair’s 78.5% year-to-date decline. SOL price nears bullish wedge breakout First, Solana has been painting a “falling wedge” since May, confirmed by its fluctuations inside two descending, converging trendlines. Traditional analysts consider falling wedges as bullish reversal patterns, meaning they resolve after the price breaks above their upper trendlines. As a rule of technical analysis, a falling wedge’s profit target is measured after adding the maximum distance between its upper…

How to buy NFTs on Solana?

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The burgeoning popularity of nonfungible tokens (NFTs) has led to issues like exorbitant transaction fees and congestion in the prevalent Ethereum-based ecosystem. The fee factor serves as a major deterrent to anyone wanting to execute transactions on the blockchain. A report published by Reuters revealed that the NFT sales volume was $24.9 billion in 2021, considerably more than the $94.9 million in 2020. The number of wallets trading in NFTs jumped to about 28.6 million, from a modest 545,000 in 2020. Recently, when Bored Ape minted its NFTs, the gas…