• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Solana SOL SOLUSDT
Nexo Logo

Solana Shocks The Bears And Ranges On To New ATH , Aims For $50?

Reynaldo Marquez by Reynaldo Marquez
1 year ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Solana (SOL) appears to be on a moon mission. In the daily chart, SOL has moved against the current market sentiment and reached a new all-time high at $42,58. After a minor drop, the cryptocurrency trades at $41,79 with even bigger gains in the 7-day (+65.3%) and 30-day chart (+207.2%).

Solana SOL SOLUSDT
SOL on a bullish trend in the daily chart. Source: SOLUSDT Tradingview

Anonymous trader “Kaleo” has been tracking SOL’s price action closely. After forming and breaking a diagonal at $30. Later, SOL reached the higher levels on this range and “cleared HFT resistance”, as Kaleo said.

On the SOL/BTC pair, the former token managed to also secure a new all-time high when it went above the 0.0007 BTC. Driven by this bullish price action, the trader has set $50 as Solana’s next target.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
Solana SOLUSDT
Source: Kaleo

On the other hand, trader “Altcoin Sherpa” pointed out SOL’s relatively low trading volume over the past day. The trader is bullish but believes SOL’s “characteristics of accumulation” points to a short-term pullback. If the current trend follows this prediction, SOL could provide a good entry point for investors looking to take long positions.

Solana’s Potential And Ultimate Goal

According to Solanians, the cooperation between this platform and Project Serum, a decentralized derivatives exchange, could potentially “replicate and outperform” the financial system.

Solanians believes Solana is the only project in the crypto space that focuses on improving its throughput and increase its TPS from 50,000 to 500,000 “over the next couple of years”. In doing so, Solana could absorb part of the value in traditional payment networks, VISA and Mastercard, structured products, and the stock market. Solanians said:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

But Project Serum presents a path towards adoption. Already, it has the world’s most powerful fully on-chain DEX, and the ecosystem is growing quickly. The structure of Serum is also unique and can bring multiple benefits to the ecosystem.

Solana has seen an increase in developer activity and occupies the 4th position behind Chainlink (LINK), Elgorand (EGLD), and Bitcoin (BTC), per a report compiled by CoinGecko. SOL’s ecosystem is growing at a fast pace and Project Serum already offers an automated market maker, staking, lending and borrowing service, liquidity aggregators, and synthetic assets.

Solana SOL SOLUSDT
Source: Coingecko via Solanians

Analyst Adam Cochran predicts Solana could hit a $152 price if only captures part of its competitors (Binance Smart Chain, Ethereum) market cap. Cochran added on his prediction:

But, this assumes no market growth at all, which at current trajectories seems naïve. At a conservative growth rate of the market of even 15% over the next year, I think we could look at the $300 – $350 range in the new year assuming its able to capture that market.

Tags: SolSolanaSOLUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

Bitcoin And USDC

USDC Exchange Reserves Rise As Investors Escape From Bitcoin

39 mins ago
Ethereum Loses Steam As Exchange Supply Spikes

Ethereum Loses Steam As Exchange Supply Spikes

2 hours ago
Bitcoin network

Bitcoin Enters Hibernation Mode As Network Activity Lulls

3 hours ago
What’s Protocol Monetary Trade Policy, and Why Is it Such a Big Deal?

What’s Protocol Monetary Trade Policy, and Why Is it Such a Big Deal?

6 hours ago
Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode

Fed Announces Inflation Warnings As Bitcoin Whales Remain In Wait Mode

7 hours ago
Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community

Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community

7 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Torches Genesis NFT Launching, Win Torchlight NFT to Unlock IDO Allocation

June 30, 2022

Crypto News Flash: Best Meme Coins to Explore in Bear Market 2022 – Floki Inu (FLOKI), Akita Inu (AKITA) and RoboApe (RBA)

June 30, 2022

Secure Your Finances With These Top DeFi Tokens: Gnox (GNOX), Solana (SOL), and Avalanche (AVAX)

June 30, 2022

XT.com Welcomes Cryptostone (CPS) to Its Growing Exchange

June 30, 2022

Crypto Crash: Bitcoin Falling Helplessly, Find Succour in These Two Coins

June 29, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.