Altcoin Sherpa, a well-known crypto strategist, and analyst, recently made several price predictions for the cryptocurrency market in February 2023. In his recent tweets, he discussed his next levels for Bitcoin (BTC), Solana (SOL), Avalance (AVAX), and STEPN (GMT).
Bitcoin (BTC) :
Altcoin Sherpa is becoming more bullish on BTC as it remains in its current range. He predicts that a gap closure of up to $30,000 is probable, based on his analysis. However, he also cautions that the recent January rally does not necessarily indicate a bull market and that BTC has not yet reached its bottom.
According to the analyst, Solana is heading toward the $30 area, and if BTC continues to rise, it could reach the mid-$30s. He notes that the future of SOL is unclear, and its value depends on the holdings of the FTX/Alameda exchange.
Avalanche (AVAX) :
The analyst predicts that AVAX will retrace to $17, a drop of more than 20% from its current value of $21.48. He explains that the retreat is due to pressure from the 200-day exponential moving average (EMA) and certain support and resistance levels.
STEPN (GMT) :
Altcoin Sherpa predicts that STEPN is bottoming and will rally to $0.79, a 38% increase from its current value of $0.57. He explains that if BTC remains stable, GMT is likely to make a low around its current value and proceed higher to $0.79.
Altcoin Sherpa’s recent price predictions provide a glimpse into the potential future of the cryptocurrency market in February 2023. While his predictions are based on his analysis, they should not be considered investment advice.
The altcoin market has been experiencing an unexpected downtrend after a promising upward rally, giving bearish woes to investors’ portfolios. Two of the most talked-about altcoins, Solana and MATIC, are no exception, as they are following the ongoing market trend and developing a possible downtrend in the next few days.
Will Solana And MATIC Price Bring The Worst Situation?
Solana and MATIC are two of the fastest-growing altcoins in the market that have made a significant recovery rally after forming a price bottom in November. Since the beginning of 2023, these altcoins have caught investors’ attention and have been making headlines for their impressive performance. However, the bearish market sentiments have jeopardized the upward rally, and many investors are concerned about their future performance.
Solana Price Analysis
SOL price has been able to hold its trend above the $22 mark, which it gained a week ago. However, the next challenge for the altcoin is at $28.2, as a rejection near this level may plunge the asset below its 23.6% Fib level. As of writing, Solana trades at $24.18, declining nearly 1% in the last 24 hours.
A prominent crypto analyst, Momentos, predicts two scenarios for the upcoming Solana price. The analyst noted that the SOL price might become bearish if it fails to hold its pivot area at $26-$29, slumping the token to its EMA-20 trend line at $10.94. However, a trend above the pivot area may send this token to test its crucial resistance above the EMA-200 at $32.
MATIC Price Analysis
Polygon (MATIC) has recently faced a solid rejection near $1.18 and has quickly dropped to the bottom price zone near $1.1 as investors started their profit-taking operations to avoid any sudden price dump ahead. Moreover, the eyes of the altcoin traders are now on the FOMC meeting and Jerome Powell’s comment on interest rate hikes as it can shake up the MATIC price.
A well-known altcoin trader, RMDFinance, predicted that MATIC price is poised for a downtrend as it forms a descending channel pattern. A breakout below the weekly support level of $1.06 may begin bearish trading sessions as MATIC may witness a significant rise in short positions.
According to CoinMarketCap, MATIC’s price hovers at $1.11 with a downtrend of 0.49%. Looking at the daily price chart, the RSI-14 indicator may push the token upward to test its resistance at $1.2 to confirm a short-term upside retracement. If MATIC breaks its resistance at $1.2, it may pave an upward journey to $1.33.
Since the beginning of the year, Solana (SOL) has seen largely upward price movement. However, it has gone down and is now in the red as of this writing. Nonetheless, the token’s potential has been widely predicted by market watchers.
Experts Predict Massive Growth for SOL
Cantering Clark, a pseudonymous trader with 159,000 Twitter followers, recently shared a chart with his audience comparing the recent price movement of Solana (SOL) to that of Ethereum (ETH) in 2018.
As can be seen in the trader’s chart, after repeatedly touching a support level, both assets broke through it, formed a lower bottom, and recovered. Ethereum’s price rose from its 2018 low of $83 to its all-time high of $4,878 at the end of the year, a 5,777% increase. Based on SOL’s last close of $8.50 and the projection of a similar decline before the next bad market, a rebound to around $462 is likely.
In a recent edition of the Bankless Podcast, Chris Burniske, a co-founder of Placeholder VC, a venture financing company specializing in decentralized networks and Web3 applications, set out his bull case for Solana.
It’s hardly surprising that Burniske’s forecast is close to Clark’s, as he also sees parallels between SOL and Ethereum in 2018. He added that Solana is on the right track to harden its asset and will continue to do so, even if Ethereum is now a tougher asset.
The expert responded affirmatively when asked whether the SOL token will follow the same trajectory as Ether, which has become a type of money due to its shrinking availability. According to him, the return on investment for the individuals who are putting up cash in SOL is fairly low at 6% each year.
In any case, the fact that analysts think the SOL price may move up higher in the future and might join the current retest period is great news for buyers and sellers. Hence, with consistent purchasing, this cryptocurrency has the potential to increase by another 10% and test the $30 barrier level.
Solana price has broken a three-week rising trend, thus questioning the momentum to push beyond pre-FTX levels. According to our latest crypto price oracles, Solana’s price has dropped approximately 5.4 percent in the past 24 hours to trade around $23.22 today. After rallying over 100 percent in the past three weeks, the Solana bears are slowly taking control.
Consequently, a possible retrace could push Solana’s price to around $15, where the digital asset may find temporary solace. Moreover, the 200 MA in 4-H has risen to this level. Additionally, the RSI shows an overbought asset with a falling divergence, which indicates an imminent price fall. Perhaps the asset is forming a head and shoulder on the lower time frames, which could lead to psychological sell pressure.
Whether the bulls defend the rising trend in the coming weeks or not, the ultimate decision is likely to be affected by the Bitcoin market sentiment. Moreover, the January 2023 cryptocurrency rally has significantly been affected by Bitcoin price.
Solana Fundamental Aspects Shows More Pain Ahead
The Solana ecosystem has grown to a top 20 project by market capitalization due to its huge backing from whale investors. However, the network activity has significantly declined in the past year fueled by the FTX collapse. According to statistics from the token terminal, as shown below, Solana’s weekly active users have been declining in each subsequent quarterly since 2022.
Additionally, the total value locked (TVL) in the Solana ecosystem has significantly reduced since late 2021. The Solana TVL has moved from over $11 billion to about $270 million today.
Nonetheless, the Solana developers are hard at work building DeFi projects to be shipped out through the Saga mobile App Store.
Snowfall Protocol (SNW) Looks More Promising as Solana (SOL) and Bitcoin (BTC) Maintain a Bullish Trend
As 2023 gets underway, now is the time to decide on which crypto project to invest in. While Solana and Bitcoin seem like good investments, a new performer is in the game, Snowfall Protocol. Market experts say the Snowfall Protocol looks more promising than Solana (SOL) and Bitcoin (BTC).
Why Solana (SOL) and Bitcoin (BTC) are promising investments in 2023
The Solana (SOL) network is one of the world’s fastest and most cost-effective Layer-1 networks. Many people believe that Solana (SOL) has reached its lowest, even though the token has sustained significant damage due to the fall of FTX. In the big picture, things are turning around for Solana (SOL).
Once Firedancer is implemented, it is anticipated that its already great rates of 65,000 transactions per second (TPS) will see a further rise. Firedancer is a brand new validator client that Jump Crypto developed. It has been demonstrated in testing that it is capable of speeds of up to 600,000 TPS. This year, Solana (SOL) will also release its Saga smartphone, which is one of the first mobile devices in the world that is compatible with Web3.
Similarly, Bitcoin is undisputedly the most popular cryptocurrency, which has given it an edge over other coins in the market. After the hit suffered by the crypto giant during the FTX crash, it is gradually rising again, just like it has always done. This makes investors believe more in it.
Both Solana (SOL) and Bitcoin are compartmentalized inside their respective silos (BTC). Despite having a lot of potential, Solana (SOL) and Bitcoin (BTC) both have limitations as we move closer to a future with several chains.
Why Snowfall is a more promising investment in 2023
Snowfall Protocol (SNW), which allows users to transfer data from one blockchain to another, is revolutionizing how things work in the crypto industry. It is an interoperability solution that aims to make transfers between EVM and non-EVM chains as easy as possible.
Since there are numerous smart contract-enabled chains, Snowfall Protocol (SNW) saw a need for a simple bridge that let users transfer their digital assets without problems. Now, they can transfer data from one blockchain to another whenever required. As such, continue using their preferred chain to reap the primary benefits of other blockchains if they use the Snowfall Protocol (SNW). This is unlike the existing interoperability solutions, which are constrained in the tokens they support and have poor accessibility.
Snowfall Protocol (SNW) has successfully raised more than $3 million after investors had completely purchased each step of its presale. Throughout this process, the cost of Snowfall Protocol’s native token has skyrocketed dramatically, increasing from $0.005 in the first phase of the presale to $0.191 in the phase currently taking place. That is already a 3450% increase, looking very promising.
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The Solana (SOL) cryptocurrency has seen its value more than double since reaching its lowest point following the FTX and Alameda incident. It has moved from trading below $9 in the last three weeks to as high as $24.75.
Market analysts are optimistic about the long-term potential of the Solana ecosystem, citing its vibrant global community and dedicated DeFi developers as reasons for this optimism.
As of today, the total value locked (TVL) in the Solana ecosystem stands at approximately $258 million, down from over $11 billion a year ago.
Despite the decline in TVL, the Solana ecosystem has seen an increase of approximately $50 million since the collapse of FTX and Alameda. Ethereum co-founder, Vitalik Buterin, believes that the Solana network has a promising future without the presence of bad actors. Riyad Carey, a research analyst at cryptocurrency data firm Kaiko, commented, “with Alameda gone, the protocol is in some sense free of that baggage and can become more community-centric.”
However, the Solana market is showing signs of bearish behavior following a strong two-week rally. One notable factor is the daily traded volume, which dropped by over 48% to $736,053,464 on Friday. Additionally, the Solana price in the 4-hour time frame is on the verge of breaking a three-week bullish trend line, which could potentially push the price to the next consolidation level of around $16.
The Solana ecosystem is supported by a dedicated team of DeFi developers and over 2,000 validators, which has led market analysts to remain optimistic about the network’s potential for growth. With the exit of FTX, the future of Solana looks promising as the network continues to gain traction.
As Messari Senior Research Analyst, Tom Dunleavy, notes “It is certainly an open question as to how sticky this new level of volume is; however, at the very least, a consistent level of volume with FTX exiting the ecosystem is a positive sign.”
The Solana (SOL) price has seen a significant rally of over 79% in the past 30 days, despite the recent crisis on FTX and Alameda.
According to current crypto price oracles, SOL is currently trading around $21.33, down approximately 6.1%. Since hitting lows of $7.9 in late December, Solana’s price has been on an upward trend, perfectly respecting the support trend line. The rally in the past two weeks has reportedly been fueled by high liquidations and FOMO traders.
From a technical perspective, Solana’s price has a higher chance of making another outburst from current levels, with minimal resistance toward pre-FTX levels. This is supported by the increased daily traded volume, which currently stands at around $1,545,622,867, compared to $500 million in mid-December.
This increase in trading volume indicates higher demand and reciprocates to an increase in value.
However, the Solana rising narrative may be invalidated if the price drops further in strong bars like the rallying ones. In that case, Solana traders can expect to retest the area around $16, where the 200 4H MA has reached.
The Solana sell pressure is expected to widen as FTX officials liquidate over $1.2 billion worth of SOL to repay creditors. Additionally, the Solana ecosystem may record more sell pressure as FTX officials dump over $500 million worth of SPL tokens. According to aggregate data provided by Coinglass, over $8.7 million has been liquidated in the past 24 hours in the Solana ecosystem.
Nevertheless, DeFi developers on the Solana continue to build with over $257 million locked in the Sol network according to data provided by defillama.
As we close out the coldest crypto winter the space has experienced in recent memory, choosing a winning investment can be a herculean task for many cryptocurrency investors. Many currencies, even established smart contract platforms like Polkadot (DOT) and Solana (SOL), for instance, have struggled mightily as a result of macro events like the collapse of FTX and Alameda Research.
On the other hand, while buying the dip on either Solana (SOL) or Polkadot (DOT) can be tempting for some investors, the largest gains remain in ICO and presale events for packed cryptocurrencies with serious potential to rise, like Flasko. Let’s examine how Flasko might be a better buy than Polkadot (DOT) or Solana (SOL) in 2023.
Solana (SOL) Investors Heading for the Exits
Solana (SOL) needs very little introduction, considering the layer-1 smart contract platform made headlines in 2021 when Solana (SOL) tokens surged to all-time highs of $260 from ICO prices of $0.22. Needless to say, the Solana (SOL) ecosystem has since grown exponentially, with the blockchain enabling DeFi, NFTs, and fast, scalable dapps.
However, fast forward to December 2022, and Solana (SOL) market capitalization has been reduced to just a fraction of what it once was, and trading below $10 per Solana (SOL) token as of this writing. The FTX fallout has raised Solana (SOL) selling pressure, with even the most intrepid investors filing out for the exits.
Polkadot (DOT) Struggles to Inspire Investor Faith
Like Solana (SOL), Polkadot (DOT) became prominent in 2021 as smart contract platforms iterating on Ethereum took off. Polkadot (DOT) is the finest exponent of specialized blockchains known as parachains, giving Polkadot (DOT) token holders a hand in managing the network with its unique governance structure.
But despite the use cases argued for Polkadot (DOT), investors have remained cautious about buying into the protocol. Polkadot (DOT) tokens are worth $4.31, or over 93% below its ATH levels of $55, representing how far Polkadot (DOT) has fallen in investor mindshare over the past year.
Flasko (FLSK): The Can’t-Miss Presale Opportunity of 2022
Flasko has just launched its phase two presale, offering crypto investors an opportunity to reverse their fortunes by investing in a blue-chip protocol to close the year.
Flasko is building the first alternative-investment platform enabling users to invest in the high-performing alternative assets sector of rare wines, whiskeys, and champagnes, allowing them to mint, buy, sell, and hold NFTs backed by real-life bottles of the finest investment-grade luxury beverages and profit from their constantly rising prices and quality.
Flasko is available at bargain-basement presale prices at $0.1575 per token. Still, it is expected to reach a potential $5.50 by August 2023, after Flasko has gained a listing on Uniswap and other major cryptocurrency exchanges. You won’t see that ROI anywhere else during this bear market, much less for cryptocurrencies like Polkadot (DOT) and Solana (SOL), which have already seen their better days.
Best of all, Flasko has secured the long-term viability of its protocol by passing a full audit conducted by Germany-based Solid Proof. Moreover, Flasko has locked platform liquidity over the next three decades and team token allocations for the next three years (followed by another 3-year vesting period). This demonstrates the Flasko team’s commitment to seeing its platform succeed.
Don’t miss out on your last chance to get in on blue-chip crypto while the presale is still ongoing: follow the links below to participate.
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The traders who experienced unrealized losses owing to the FTX collapse were charged up by the most recent Solana price rally. Since the FTX-related liquidity problem in November, the price of the Ethereum competitor has been steadily declining.
Although the cryptocurrency is now in a bullish overall trend, it is uncertain whether a further surge will occur soon. Bitcoin has finally crossed the significant $17k mark, sending green waves across the market.
Returning to Solana, the coin has shown a very exceptional start to the year as the network’s native cryptocurrency SOL had a significant rally over the past few days. According to the expert who correctly predicted the bottom of Bitcoin’s bear market in 2018, Solana may be preparing for a big retracement. According to analyst Smart Contracter, Solana’s excellent start to the year has probably come to an end.
“Over 112% move from the lows on SOL in a clear V reversal, five-wave impulsive move. One of the clearest I can see across the board, actually. Over the coming weeks, I’d anticipate an ABC correcting that whole run, probably between 25%-35%, but it will likely be a dip to buy.”
The Elliott Wave theory, a technical analysis used by Smart Contracter, seeks to forecast future price movement by observing crowd psychology, which frequently manifests in waves. The theory states that a bullish asset often corrects (ABC wave) following a five-wave advance.
According to the chart of Smart Contracter, at the 0.618 Fibonacci level, SOL is expected to decline below $12. At the time of writing, Solana is trading at $16 and is down by more than 5 percent.
Alex Krüger, an economist, likewise believes that the recent price hikes for SOL are likely coming to an end. Krüger asserts that the shorts that propelled SOL’s rally have already been destroyed.
“Bears wiped out. SOL funding markets back in balance. Think still has room to go, but the outperformance phase is mostly behind.”
The crypto market seems to be recovering as the world’s largest cryptocurrency in the world, Bitcoin has managed to surpass the $17,000 mark leading the recovery rally. Among altcoins, the top position has been occupied by Cardano (ADA) and Solana (SOL) which have surged 20%.
At the start of the 2023 recovery rally, Solana’s price has gained nearly 70% and has managed to push the price from December 2022’s $8 to the present $13. Traders believe that Solana might rise and move past $15 in the days to come.
After FTX saw its downfall most of the cryptocurrencies were pulled back which also included Solana’s SOL. Hence, Solana closed the year 2022 with a fall of nearly 95% before bulls made their way back in 2023.
The same is with Cardano (ADA) which has managed to get positioned as the 8th largest cryptocurrency by market cap after flipping Dogecoin. This comes after Cardano successfully gained 20% in the last 24hrs and has bagged one of today’s toppers list.
Cardano’s 2023 journey has begun on a positive note after Cardano addresses holding 1M to 100M ADA accumulated more than 200 million ADA coins.
Solana & Cardano To Begin Their Next Bull Run
At the time of publication, Solana is selling at $16.38 with a surge of 22% in the last 24hrs. While Cardano has slightly dropped from its 20% gain and is now trading at $0.32 after an upswing of 17.86% over the last 24hrs.
As per its current trade, if Cardano’s ADA manages to hold on to its $0.3 level the currency can easily move beyond the $5 level soon. On the other hand, Solana’s next resistance lies at $18 and if SOL successfully claims this level the currency will begin its next bull run soon.
Analysts predict a bullish 2023, but the cryptocurrency market’s signals and sentiments suggest otherwise. Most altcoins are now battling with marginal gains, while Bitcoin is attempting to break through the $17k barrier.
Amid the ongoing bear market, a cryptocurrency expert has forecasted what’s next for Ethereum (ETH) and a few other altcoins. In a recent interview with Scott Melker, the cryptocurrency analyst Cheds said that ETH has a “clean trigger level” between $1,420 and $1,430, at which time it will have overcome both the previous support level and the 200-day moving average (MA).
As for XRP, the analyst said that one has to follow through. If the bulls don’t bounce here at $0.3416, that’s no Bueno.
“That’s a great start to some type of a small-to-medium-type of a move. Maybe up to like $0.38 to $0.39. And if it doesn’t, then you’re in real trouble, because look at the long lower shadow. That’s buyers jumping in, rejecting lower prices, getting back up above lost support,” he added.
What’s next for DOGE, ADA, SOL, and MATIC?
For the popular meme-coin Doge, the analyst said,
“It’s the classic rocket ship slow bleed. Losing the MA-200, losing support here. I mean I think it’s going to about [$0.05] or [$0.057, $0.058]. Probably range lows.”
Talking about Ethereum rival Cardano, in his opinion, it could be worthwhile to short it if ADA once more reaches the $0.30 range. Cheds stressed that “the biggest bounces come in downtrends” with regard to Solana (SOL). The analyst claims he has a “positive” feeling above $11.50.
According to Cheds, Polygon (MATIC), a blockchain scaling solution, has to maintain support. He said that the $0.72 level is a crucial holding level for the asset, and about $1.06 is the next possible level to be on the lookout for.
Solana token has been badly impacted by the recent happenings in the crypto space. The token depleted heavily due to the mounted bearish market sentiments but lost a large chunk of market participants as it stood exposed to the FTX collapse.
However, the token managed to regain momentum with the launch of BONK, the Dogecoin of Solana, and the price inflated to some extent. But a steep downfall of SOL price in the long term appears to be imminent.
The SOL price gained more than 30% in the past 48 hours, driven by a 110% jump in the BONK prices as the market participants witnessed a ray of hope during the current market downtown. Along with the rise in price, a notable jump in the active address was witnessed.
Moreover, in the coming days, the bearish action is assumed to be intensified which may drag the token to new lows.
The quick rebound of the SOL price in the past few days has induced significant belief within the market participants who expect future growth. Woefully, the price may certainly not remain inflated for a longer time frame. The Solana project and its price are connected to the FTX which may take months or even years to resolve.
Secondly, the SOL/USDT price is entering the liquidity zone between $13 to $16. Here the possibility of a massive sell-off emerges as the traders who took long positions in November 2022 and experience a 50% drop may exit their position. Additionally, the ones who bought SOL with limit orders at a liquidity level of $8 may close their position with 70% to 100% profit
Therefore in the mid-term, the price has formed an inverted Head & Shoulders pattern where a risky buy zone is around $10. Further, after a brief consolidation, a conservative purchase may drive the price up to $16 with a target could be set at $31 for the pattern.
It is worth understanding that the ongoing FTX proceedings may have a huge impact on the Solana price. One news or an announcement may drive the price extremely down with the lower target below $5 at $3.7 initially and later at $2.25 or even $1.65 too.
Solana (SOL) has gained over 22 percent in the past seven days to trade around $13.51 on Wednesday. However, the SOL price is yet to fully recover from the FTX and Alameda implosion, which saw the digital asset lose over 60 percent in a week. Moreover, Solana was highly incentivized in the FTX ecosystem through token listings and liquidity provision.
Having returned to mid-December resistance, a popular crypto analyst on Twitter has highlighted that SOL will trade around $20 before the end of the first quarter of 2023. Citing a technical standpoint, the analyst believes the digital asset will consolidate at current levels before heading toward $20 before the end of March.
As such, the popular crypto analyst dubbed Inmortal [@inmortalcrypto] is convinced traders who bought Solana below $10 have their portfolio performing well.
The Solana ecosystem is suffering from a lack of development activity and network attacks. Nonetheless, SOL has seen its daily trading volume up significantly in the past few days, standing at about $1.7 billion today. For comparison purposes, BNB, XRP and Dogecoin all have a 24-hour volume of less than $1 billion, according to our latest crypto data.
Notably, a spike in daily traded volume on Solana (SOL) is a high indicator of more upside in the coming weeks. Furthermore, the SOL ecosystem has managed to significantly distance itself from the FTX fiasco.
Closer Look at Solana (SOL) Market Outlook
The Solana ecosystem takes pride in over 11.5 million active accounts and has facilitated over 22 million NFTs minted. Furthermore, Solana’s high throughput and low trading fees make it a perfect fit for NFTs of all shapes and sizes. Some of the top NFT marketplaces on Solana include SolSea, Metaplex, Candy Machine, Gumdrop, and RPC Infrastructure.
Top NFT projects on the Solana network include Cryptokickers, Degen Apes, and Solana Monkey Business.
The Solana ecosystem has been developing a mobile development kit for Web3 developers seeking to tap into the Saga phone. Notably, the Solana Mobile Stack, developed by Solana Mobile and coming first on the Android-compatible Saga phone, aims to make mobile more crypto-friendly.
Nonetheless, the Sol ecosystem is yet to convince the crypto community of its network stability. Moreover, network downs were very rampant last year fueled by bugs.
Meanwhile, the Solana ecosystem takes pride in a global community ready to support its Web3 products like SolanaPay.
Ben Armstrong is a YouTuber, podcaster, crypto enthusiast, and the founder of BitBoyCrypto.com. He is better known as BitBoy Crypto and attempts to educate and inform the crypto community.
He has recently been circulating claims concerning the Solana Blockchain’s uncertainty. Armstrong claimed that Solana was dead and that there might be no other way to save the network. He further claimed that Alameda Research was laundering money and brute forcing transactions every time the Solana blockchain paused. And the enthusiasts who own this currency should dump it.
Unsurprisingly, he has made yet another controversial remark about the token.
“ADA is 75% bigger than SOL,” BitBoy continues to slam Solana
In a recent tweet, Armstrong reminded the community that Cardano’s native coin, ADA, is 75% larger in terms of market capitalization value than SOL. Bitboy said that ADA was a much bigger cryptocurrency than SOL, pointing out that it had almost double the market cap of SOL when sharing the list of cryptocurrencies by market cap. While ADA was in the top 10, he said, SOL ran the chance of slipping to 15th place behind Tron’s TRX.
The crypto influencer believes that the end is close for Solana, which has been plagued by fear, uncertainty, and doubt as a result of its ties to the collapsed crypto exchange FTX and its disgraced founder Sam Bankman-Fried. Recent announcements from well-known NFT projects outlining plans to switch to Ethereum have made the issue worse.
Cause of Solana’s Dismissal of Performance
Solana’s main issue in late 2022 was its strong association with FTX founder Sam Bankman-Fried, who is facing eight criminal fraud charges after his crypto exchange went bankrupt. When FTX failed, investors bailed on Solana to the tune of $8 billion. But Solana has fallen even further in recent days as the rest of the cryptocurrency market has been largely quiet and prices have remained constant.
Additionally, two prominent projects, DeGods and y00ts have announced their departure from Solana and revealed that they would be migrating to Ethereum and Polygon. The projects’ creator, Rohun Vora, believes the projects have accomplished everything they can on the Solana network. Polygon and Ethereum are the best places to be in order to encourage growth.
While supporting a claim by a user that Solana is dead, Bitboy tweeted, “I’m sorry if this hurts your feelings… but this is facts, More NFT and crypto projects will leave Solana.”
The price of Solana is at $ 13.52 per (SOL / USD) with a current market cap of $ 4.97B USD. The future predictions do not look optimistic either.
Top NFT project, DEGODS, To Depart SOL for ETH,DOGE Continues To Show Mixed Signals, Snowfall Protocol Looks The Best Pick 2023
DeGods and y00ts to bid Solana Farewell and Migrate to Ethereum in 2023
DeGods, a Solana (SOL) NFT titan, has introduced its departure from Solana in choice of the famous Ethereum (ETH) community. The main NFT assignment on Solana (SOL) has said that it’s going to officially bridge to Ethereum (ETH) withinside the first sector of 2023, including that “info of the bridge can be launched while it is geared up and tested.” Solana can even lose its y00ts NFT series to the Polygon community. $DUST token, which powers each y00ts and DeGods, can also be bridged to Ethereum (ETH) and Polygon (MATIC).
$0.1 Remains the Goal as Canine Coin Dogecoin’s Momentum Remains Erratic
Dogecoin (DOGE), Elon Musk’s favoured dog coin, Dogecoin (DOGE), has prolonged its unpredictable fee motion into the ultimate week of 2022. Currently buying and selling at around $0.07475, Dogecoin (DOGE) has dropped 1.43% on the day at the same time as posting a 1.31% weekly gain.
There are presently feasible situations for Dogecoin’s fee motion. On the only hand, Santa’s rally should nonetheless be underway, and we should see Dogecoin (DOGE) rally to $0.10 way of means of the quit of the yr. On the opposite hand, the maximum current financial data, which suggests that 2023 may get off to a completely rocky start, with a worldwide recession and good-sized risk-off movements ahead, should purpose Dogecoin to fall even further.
While high-cap altcoins like Solana (SOL) and Dogecoin (DOGE) keep fading, traders are transferring their interest to smaller-cap altcoins which maintain splendid promise—like Snowfall Protocol (SNW).
Snowfall Protocol (SNW) has established fantastic capacity as a marketplace chief and a blue-chip cryptocurrency, all at the same time as nonetheless withinside the presale degree. Snowfall Protocol (SNW) has been constructed at the disasters of preceding cross-chain answers to create the primary cross-chain protocol answer that permits the switch of assets—each fungible and non-fungible—throughout extensively used EVM and non-EVM well-matched chains.
Snowfall Protocol (SNW) is largely a forerunner to a brand new era of cross-chain answers. Its software on my own offers Snowfall Protocol (SNW) an aggressive benefit over different cross-chain answers.
During the 3 rounds of the presale, the Snowfall Protocol (SNW) atmosphere has grown tremendously. In rounds one and of the presale, which took place to coincide with the autumn of FTX and panic withinside the crypto-verse, Snowfall Protocol (SNW) become a hit in attracting sufficient traders to elevate greater than $4 million. The 2nd stage drew this type of big variety of traders that it even bought out early.
Snowfall Protocol (SNW) token fee has been extended via way of means of greater than 300% withinside the 0.33 spherical, and it now stands at $0.17. What’s greater, the 0.33 price per token is already 78% bought. If all degree 3 tokens promote out, Snowfall Protocol (SNW) will release at $0.2.
Snowfall Protocol (SNW) local token, SNW, serves as each a governance and a staking token. Stakers will stake SNW tokens in atmosphere swimming pools for moneymaking rewards primarily based totally on the blockchain and staked amount.
In the following bull marketplace, Snowfall Protocol (SNW) is anticipated to pump as much as 5000%. This makes now a splendid time to buy Snowfall tokens (SNW) and journey the wave to the moon:
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The crypto bulls are trying their best to get the market back on a bullish track and recover.
However, there is one altcoin that has excelled in the bullish momentum. Solana, the top 15th largest cryptocurrency by market cap, has gained a whopping 20% in the last 24hrs and surged nearly 40% in the last seven days.
At the time of writing, Solana is selling at $13.96 after a gain of 17.6% on the last day.
Solana Price Surges By 20% With BONK
This price surge comes amidst the launch of the new Shiba-Inu-themed token ‘Bonk’ (BONK). BONK mainly generates airdrops to Solana NFT, anti-Alameda Research sentiment to improve the community environment. It’s a known fact that after the Alameda and FTX collapse, the crypto community bore a massive negative impact, and the Solana network was on the receiving end as well.
However, after Solana had its first BONK airdrop, SOL picked up its pace leaving behind meme currencies like Dogecoin and Shiba Inu. In the last 24hrs, BONK has gained the highest trading volume after USDC and SOL. On the other hand, BONK’s first 20 holders have accounted for 50% total supply and BONK DAO holds 15% of its total supply.
Currently, Solana’s price is struggling to move past $15, but if SOL successfully manages to move beyond the said barrier, Solana is expected to see another 20% surge. Meanwhile, currently, BONK is selling at $0.000001793 with an upswing of 86% in the last 24hrs.
It is observed that the major factor that is pushing the BONK price rally is its acceptance from the NFT market. However, if the BONK holder decides to sell off, the move will pull back SOL towards $10.
What the terrible year 2022 has been for the crypto industry as a whole. The situation for Solana (SOL) hasn’t been great, and following the FTX crash, it worsened since Alameda Research held a large number of tokens in the Solana ecosystem. The entire crypto community is left wondering what the future holds for the asset as the year winds down.
Why Are Projects Ditching Solana?
As Solana’s ostensible last-ditch efforts in NFT fail, the protocol’s situation seems to be becoming worse. Two major initiatives in the Solana ecosystem have left for other chains during the previous day. Their departures will take place in the first quarter of 2019.
The deflationary Solana NFT project DeGods announced recently that it will be moving to the Ethereum environment in the first quarter of 2023. Moreover, Y00topia, another Solana NFT project, has also announced that it would be bridging to the Polygon blockchain at the beginning of next year. The creators of the projects claim that growth may be stimulated most effectively in Ethereum and Polygon.
Solana used to be one of the top ten biggest cryptocurrencies by market cap until the FTX debacle. It competed with other cryptocurrencies such as Binance Coin (BNB), Cardano (ADA), and Ripple (XRP). At this point, SOL is ranked sixteenth and has a market value of a little over $5 billion.
Bitboy Talks Solana
A well-known cryptocurrency influencer and YouTuber by the name of Bitboy Crypto has provided some forecasts pertaining to Solana. According to him, there would be an increase in the number of projects that would leave the Solana ecosystem.
In his words:
“I’m sorry if this hurts your feelings… but this is facts. More NFT and crypto projects will leave Solana.”
On Dec. 26, founder of Solana Labs Anatoly Yakovenko responded to the news, saying that he would prefer it if they concentrated only on Solana.
Nevertheless, he was optimistic that the Solana ecosystem would grow due to the interest generated by the team’s efforts to explore uncharted territory.
Folks on Twitter don’t appear to agree with him. Though it’s obvious that some people believe the crypto project is doomed, others are optimistic since they’ve seen the high quality of the work and the dedication of the team.
Is Solana Dead?
However, investor sentiment remains mostly negative; an ongoing survey conducted by Bitboy shows that nearly 70% of users believe Solana to be dead.
Despite the fact that Solana has been experiencing a number of problems as of late, I have every confidence that the project will eventually bounce back. Therefore, in my opinion, you should not give up hope.
Did you know that you can do more than just stake and trade with cryptocurrency platforms? As cryptocurrency adoption surges, crypto users are looking for ways to utilize these blockchain-based assets in multiple ways. The strong demand for cryptocurrencies has paved the way for niche platforms that enable crypto users to do more than just invest, be it building dApps or playing blockchain-based games.
HedgeUp and Solana are among the leading platforms today that enable their users to multi-task with their native tokens and earn rewards. Let’s dive into the important features of these two cryptocurrency platforms.
HedgeUp: Minting new gains with alternative investment products
HedgeUp has been designed as a niche platform for opening up the alternative investment products space for cryptocurrency users. It enables crypto users to park their money with alternative investment options like luxury watches, art, wine, and aviation, among other products. Alternative investment products offer users a two-prong advantage – firstly they potentially enhance your returns with a diversified portfolio. Secondly, these products act as a hedge against market volatility and economic factors like inflation.
The platform has also rolled out a native token called HDUP for facilitating all kinds of transactional purposes and it will be made available on presale. The HDUP token can be used for a wide array of uses like staking, liquidity pool management, marketing activities, distributing rewards, and securing voting rights. The token’s total supply has been capped at 999,000,000 units and the largest share of the tokens has been set aside for presale at 35%.
While the platform doesn’t levy any taxes on the purchase of HDUP Tokens, it does charge a 5% tax when a token holder sells the cryptocurrency. Users also have to pay a 2% liquidity pool admission fee. In tandem with its policy of incentivizing participation, HedgeUp offers its users rewards for staking and holding HDUP tokens in the treasury through the staking events conducted by the platform. The staking of tokens helps in liquidity pool provisioning and ensuring a strong market while offering users better trading opportunities.
Under the HedgeUp model, the team will first interact with startups to facilitate their users’ market entry. Next, they will strike deals with third-party vendors to supply investment products. Once the deals are finalized, these products will be uploaded on the HedgeUp marketplace and will remain open for purchase.
All assets will be stored in a licensed and insured vault for safety. One of the key USPs of the platform is its NFT collection. Buyers have the option of either purchasing an entire basket of investment products or buying an individual asset. In addition, buyers get the option of purchasing these NFTs as fractional ones i.e. users do not have to buy the entire NFT and can also purchase a small percentage of the asset.
Many cryptocurrency experts believe that HDUP has higher growth potential than other platforms. This is mainly because of its unique use case that bridges a gap in the cryptocurrency ecosystem and offers crypto users a niche opportunity to earn a passive income consistently.
Solana launches Fuse: a digital wallet for its blockchain network
Solana is a decentralized blockchain for building and scaling dApps cost-effectively and securely. Its native token SOL is the main cryptocurrency on the network and it is used for various transactional use cases on the network.
The reason why many developers prefer Solana is because of its high speed – all thanks to its block time of 400 milliseconds. The platform supports high-speed operations and is validated by over 1,900 nodes that operate independently. The wide network of nodes ensures that the users’ data stays secure and cannot be censored.
Being built on the proof-of-stake consensus algorithm, Solana minimizes the carbon footprint of its operations. According to the team, the network utilizes about the same quantum of energy as a couple of Google searches.
Solana recently announced the launch of ‘Fuse’ which is a digital wallet that enables its users to interact with Solana-based protocols and dApps while enjoying the security of a multi-signature wallet. It functions like a browser extension and can act as a proxy for your team by initiating transactions on the user’s behalf.
Users should know that Fuse is compatible with Squads, which is a multi-signature protocol built on the Solana network. Not only does it open up all features of the Solana ecosystem for its users but also offers a secure framework to set up a multi-signature wallet. In the absence of a tool like Fuse, earlier users could only interact with those dApps which had been integrated with Squads. The approach wasn’t scalable in the long term for developers and limited the usage of dApps on Solana.
Bitcoin’s sideways trend is hindering most of the altcoins within the crypto space to rise high
The altcoins are believed to rise high and may also mark new highs while some may face a major downswing ahead
The crypto space appears to have entered a final phase of consolidation and hence a giant move is believed to occur very soon. Presently, the BTC price is failing to rise beyond $17,000 as it continues to trade around $16,800 for nearly a month now. This diminished volatility has compelled the market participants to look out for other altcoins but the scenario is believed to change very soon as the 2023 year may mark a strong recovery phase for many cryptos.
Bitcoin price is required to slice through the pivotal resistance levels at $20,000 and sustain above $20,800. In such cases, a significant upswing may be validated that may uplift the price towards $50,000 or even more. Meanwhile, the altcoins may also follow the star crypto and rise high but woefully, Solana’s price is expected to drop to $1.
A well-known analyst lays down his predictions for 2023 and believes that the BTC price may hit $70,000 too. Interestingly, the analyst predicts bullish targets for most of the altcoins but believes that Solana’s price may drop heavily and reach $1. The bearish targets for SOL price raise concerns about the platform’s developments in the coming days.
The targets are set to flash the possibility of a bull run for the majority of the assets that may even mark new ATH by the end of 2023. However, the XRP price may still be deprived of reaching the highs as it could be capped at around $1.6. While the possibility of a continued upswing in 2024 remains uncertain at the moment.
Cryptocurrency investors are currently confined in a situation where they don’t know which cryptocurrency should they invest in. Ethereum (ETH) and Solana (SOL) investors are now questioning the performance of the two cryptocurrencies. They are also more interested in joining a new initiative called Sparklo.
Ethereum (ETH) Community Is Still Strong, But Best Returns Not In Sight
Ethereum (ETH) is the second most popular cryptocurrency. There is a massive community behind this cryptocurrency, and it appears that it will continue to grow. However, Ethereum (ETH) cryptocurrency is also trapped within the bear market, which makes investors doubtful about going investments with it. There are some new developments to the Ethereum Blockchain, but people are still determining whether the price will pick up soon.
Solana (SOL) Investors Are Waiting For Good News
Solana (SOL) investors are also trapped in a situation where they wonder whether to invest in this cryptocurrency. How Solana (SOL) has been performing recently is unimpressive. Most crypto analysts believe that it will not gain any momentum soon as well. Therefore, investors prefer to keep their hands away from investing in Solana (SOL) for the time being. Instead, they invest in alternative investments such as Sparklo.
Sparklo (SPRK) Is The Best Investment To Consider Now
The Sparklo presale has just begun, and the price of a token is offered at only $0.013. The value of this cryptocurrency project is expected to increase by 4,000% in the following months, according to most investors.
The Sparklo idea is original. Investors are now able to purchase NFTs that are backed by platinum, gold, and silver. Physical assets are used to support each NFT. It is quite feasible to have access to these tangible goods and have them delivered right to your home.
The Sparklo project was able to pass a recent Interfi Network audit. Also, the liquidity is locked for 100 years, assuring investors of how safe and promising Sparklo is.
Crypto markets are trading within the same range as Bitcoin’s inability to rise over $17,000 has compelled the altcoins to remain within the consolidated regions. The altcoin, nowadays, appears to be preparing for gigantic price action and hence are accumulating gains. Moreover, a slight change in the market conditions may lead to a Bitcoin price rally which could be followed by an intensified AltSeason soon.
A well-known crypto analyst, Altcoin Sherpa believes that the crypto market could improve finely in 2023 and the worst of the economic troubles may end by December 2023. Moreover, the analyst also believes that more than 100% gains could be in store for some digital assets as well. However, to do so, the markets may undergo one more capitulation phase where the cryptos may remain choppy for some time ahead.
The analyst also has given the 2023 year-end projections, where-in the BTC price is believed to trade around $35,000.
“2023 is going to be an interesting year. I think the worst is behind us for the most part, but I think there is one last capitulation waiting. I do think we’ll have a lot of bear market rallies though, and liquidity will be fragmented hopping from sector to sector a la 2021.”
The analyst believes that the macroeconomic picture has historically improved in the fourth quarter of every year which has uplifted the crypto space to a large extent, specifically for the altcoins. Coming to Bitcoin, the Analyst says that the crypto may is likely to rise high early next year which may also include some pullbacks.
“ BTC: I think we will see a rally into Q1 and then more pain later. I think we likely see an overall range from between $15,000 to $30,000 for most of the year, with deviations on both ends,”
Considering Ethereum, analysts believe it is likely to outperform Bitcoin with a price forecast of $3200.
Moving ahead to Solana, Altcoin Sherpa believes the Ethereum Killer may get triggered at $35 but it all depends on the selling pressures led by the FTX or SBF’s latest happenings. About Chainlink, the analyst believes the price may maintain its dominance and rise up to $14.
Lastly, Sherpa hopes MATIC appears pretty strong as their collaborations and partnerships may enhance the user’s confidence in the project.
“MATIC: I think has good chances in 2023, their [Business Development] and partnerships seem good,”
The bulls appear to be gaining traction in the cryptocurrency market, with some speculating that a bull run may be imminent. According to CoinGecko, the total market capitalization of all cryptocurrencies has remained around $845 billion over the past 24 hours, still below the $1 trillion mark.
However, the market has been largely influenced by a recent increase in US consumer confidence, leading to a decline in the value of many cryptocurrencies.
YouTube influencer Pizzino has warned his 279,000 followers in a new video that the cryptocurrency Polygon (MATIC) could potentially drop by 30% from its current price of $0.798 if it falls below a key support level in the near future. MATIC has remained stable between $0.70 and $1.00, but recent lower peaks on its weekly chart suggest a minor breakdown may be occurring.
If Pizzino were to trade this cryptocurrency, he would reportedly set stop orders below the $0.70 mark, which could potentially cause the price to fall to the range of $0.30 to $0.40. However, Pizzino advises caution and notes that if these lows are broken, MATIC may return to the $0.50s or $0.60s.
According to him, the cryptocurrency Solana, an alternative to Ethereum (ETH), may drop to $8 to $9 due to its inability to fully recover from a recent dip on the FTX exchange.
Solana will enter a risky period with potentially low returns if the market can hold at its current levels of around $12 to $14. At present, the cryptocurrency appears to be attempting to test its $11 support level. While a swift bounce after the FTX incident could have brought Solana above the $25 mark, it seems likely to fall again in the near future.
So if $11 is taken out now. It will be down 95%-96% from its all-time high. Dropping back to those earlier levels, between $8 and $9, would result in a loss of around 97%.
At this writing, the price of a share of Solana is $12.19.
According to Pizzino, the cryptocurrency ADA is expected to drop to around $0.20 before finding support. He suggests focusing on the range of $0.10 to $0.20 for this cryptocurrency. It is unclear whether a bottom pattern will form and lead to an upward breakout in the future.
Many of these cryptocurrencies may take a long time to recover and may test past resistance levels on linear charts before showing signs of a bear market downturn on logarithmic charts. Currently, ADA is in a state of limbo, and Pizzino warns that there may be a significant amount of difficulty in the coming weeks and months
The price of ADA is $0.255 at the time of writing.
Decentralized Finance (DeFi) is an improvement over the centralized, controlled financial system in use in the modern world. Numerous platforms, exchanges, and blockchain networks, such as the Oryen Network, FTM, SOL, and others, enable this enhanced system. These systems typically use the dollar as their main value comparison.
These platforms typically provide what is known as an ICO, or initial coin offering, which is the cryptocurrency equivalent of an IPO, or initial public offering, which is when new companies sell their stock at a discount to the market price to raise money before launching their main product, in this case, the DeFi platform.
A new DeFi platform is at this stage and is scheduled to launch later in December 2022.
Explaining the Oryen Network
Oryen Network is a creative effort to open up new possibilities in the Defi world. It is an automatic staking option that gives holders of ORY the largest rewards that increase over time in cryptocurrency (the network was developed by the Oryen team to bridge the flaw of staking as it is generally known; manual staking on platforms).
It has a native coin called ORY, the same as every other platform, and its purpose is to control the network and maintain the security and functionality of the protocol.
The token now rules the market and is in the presale phase. As of the time of writing, some of its enticing statistics are;
- Total presale $ORY available = 25,143,589
- Number of Unique registrations = 3000+
- Current $ORY Presale Price: $0.175
Oryen Launch Date: 30th December 2022
- Launch price: $0.35
- Presently in the sixth phase to sell 15,705,306 $ORY
- The present phase of sales comes with a presale bonus of 5%.
Because Oryen dominates the DeFi presale market and sets the standard higher than its rivals, its presale statistics are among the finest currently available.
FTM or SOL
ORY is hailed as the next Fantom (FTM) or the next Solana (SOL), receiving high accolades and garnering extensive attention owing to its long-term utility.
SOL coin, which is presently trading at roughly $13 and is ranked 16th on the cryptocurrency market cap list, has already reached an all-time high of $260.
Given the auto-staking feature and the rebase incentive being a set APY of 90%, it is anticipated that Oryen Network will eventually reach a similar height.
Meanwhile, FTM, a currency that works on the Fantom blockchain network, is placed 62nd on the coin market cap, with a market value of around $615 million.
Its current market price is estimated to be $0.24, and it has gone as high as $3.48.
The launch price of the ORY token exceeds the current FTM price, which is an excellent starting position for the voyage to the moon.
In a bear market, many investors look for alternatives to big coins like Bitcoin (BTC) and Ethereum (ETH). Others look to other Web3 aspects like NFTs and the Metaverse. While Ethereum (ETH) and Solana (SOL) have stood out as the most sought-after NFT coins, Plona (PLON) might be the next token to outshine these two, with good reasons.
How is Plona (PLON) different?
Plona (PLON) is going to change the world of NFTs. If you have bought or traded NFTs, you will know that NFT traders and enthusiasts usually load up on Ethereum (ETH) or Solana (SOL) to buy their favourite projects. But Plona (PLON) is the native token of a much more robust NFT ecosystem; luxury cars. So, while you can use Ethereum (ETH) and Solana (SOL) to buy into different projects that might not work out, buying Plona (PLON) is a direct investment into NFTs into a peculiar NFT concept.
Plona (PLON) is the world’s first platform that allows users to own a fraction of luxury cars as NFTs. You might have been dreaming of buying your first Porsche. Maybe you aped in on a crypto coin, hoping to buy a Lambo quickly. Well, now you can be a step closer to that dream. Not only would you get the chance to own a Lambo partially, but when Plona (PLON) moons, you can also own your own Lamborghini!
Make more money with Plona (PLON) NFTs.
Plona (PLON) does not allow you to own fractions of luxury cars alone; it also enables you to do something you can do with a physical luxury car: use it as collateral. You can use your Plona (PLON) NFT as collateral for loans since it is backed by a physical vehicle.
Then again, owning the Plona (PLON) token makes it easier for you to survive a bear market. How? Apart from being backed by physical luxury cars, Plona (PLON) is deflationary. The token’s team will reduce its supply by occasionally burning it. When the coin starts getting high demand after a burn, you know what that means for your wallets. So even when the whole market is dipping, taking Solana (SOL) and Ethereum (ETH) with it, your NFT’s value still stands solid because luxury cars hardly depreciate rapidly like crypto coins.
Plona’s (PLON) presale is currently on, and you do not want to miss the opportunity to cash in on this potentially massive token before it moons. Remember, a coin is usually cheap at presale, and with a solid utility like this, it can potentially deliver mouth-watering returns to investors.
Cryptocurrencies have had a particularly rough year, with the market for digital assets losing more than $1 trillion in value since the beginning of 2022. And with the Federal Reserve aggressively raising interest rates to combat inflation, investors aren’t as excited about owning highly volatile cryptocoins as they were in 2021. The weakening economy has instead prompted a shift to safer financial assets.
However, with prices for digital assets falling so much in 2022, investors can accumulate their favorite coins at lower prices. Snowfall Protocol (SNW), Solana (SOL), and Ripple (XRP) are particularly attractive at the moment.
Solana (SOL) Is Still A Long-Term Buy Despite Recent Setbacks
After falling below $20, investors advise that this is the best time to accumulate cheap SOL. Solana offers the chance to upend the lucrative payments sector. Its two advantages over rival Ethereum—rapid performance and low fixed costs—are based on a unique mechanism known as proof of history. For technology nerds, Proof of History (PoH) mechanism does away with the need for timestamps in the blockchain’s block data, freeing up storage space and boosting throughput. The Solana network can process over 50,000 transactions per second (TPS), far exceeding Bitcoin’s three TPS and Ethereum’s thirteen TPS. As a result, developers and financial institutions have dubbed the token the “Visa of the crypto world.”
Because of its close ties to FTX and Alameda Research, Solana became one of the worst-hit tokens during the FTX saga. One month before the FX debacle, the token traded between $28 and $37. However, its price has dropped dramatically in the last two weeks, falling to as low as $11. At the time of press, SOL trades at $14.11. The end-of-year market forecast remains pessimistic, but once the FTX-rot wears off, investors will be glad they bought Solana (SOL) for less than $20.
Amicus Curiae Filings from Industry Giants Reinstate XRP Confidence
While the broader crypto market continues in a free fall, Ripple’s XRP has shown the potential of a rally as investor sentiment turned positive due to growing support for Ripple in its lawsuit against the SEC. In 2020, the SEC sued Ripple for illegally selling securities, in this case, XRP tokens. As a result, XRP was delisted from exchanges across the industry, dragging the token into the mud. During the 2021 bull market, XRP traded far below its all-time high in 2018, while other tokens shattered this level.
But recently, the crypto community has voiced strong opposition to the SEC’s enforcement-based approach to regulating the industry. Several industry players, including Coinbase and other crypto proponents, have filed briefs asking the court to include them as “friends of the court” in the ongoing case. As a result, XRP traders’ confidence has increased, and the altcoin is set for a long rally.
Investors Are Swarming to Snowfall Protocol (SNW) After Printing A 500% Price Rally
Recently, Snowfall Protocol (SNW) has steadily increased its market dominance. The multi-chain-focused platform has become a favorite among investors, particularly following the most recent 500% price increase last week. The upsurge resulted from an influx of deposits that rocked the protocol in the second stage of the presale, after closing a successful first stage.
A total of 95 million SNW tokens were sold during the first stage. A further 100 million in the second stage are nearly sold out (90% finished). Another 100% price increase is anticipated when the token enters the third stage, where another 100 million tokens will be sold. Additionally, according to market indicators, first-stage investors will see returns of up to 1500%, and second-stage investors will see returns of over 1000% at launch. As new investors keep pouring into the presale, SNW is currently trading at $0.045 and is expected to reach $0.06 on November 25.
Snowfall Protocol (SNW) takes pride in being the first cross-chain transfer ecosystem to support both fungible and non-fungible tokens, as well as the most efficient NFT cross-chain bridge. Their dApp enables users to swap assets between EVM and non-EVM compatible chains, allowing them to participate in their favorite projects more seamlessly. This is way Snowfall protocol is one of the best new project out now more then Solana (SOL), and Ripple (XRP).
Click on the links below for further information about Snowfall Protocol (SNW)
Recently, cryptocurrency investors have had a turbulent journey with their holdings. They can’t count on a positive return on investment from all their bets. For the same reason, crypto investors are eager to separate successful investments from the ones that will ultimately be unsuccessful. That’s why people are putting their money into Flasko (FLSK) and other altcoins instead of Tron (TRX) and Solana (SOL).
There Will Be Trouble Ahead for Solana (SOL)
Solana (SOL) follows the same path as Ethereum as a cryptocurrency and a platform for hosting cryptocurrency apps like Degenerate Apes and the Serum decentralized exchange. Its key innovation is speed, achieved via many unique technologies, such as a consensus procedure called proof of history.
The price of Solana (SOL) has dropped since the bear market began, and the breach occurred at the beginning of 2022. Despite Solana (SOL) trading slightly above the 100-day moving average, the bears continue to hold the bulk of today’s trade volume. Investing in Solana (SOL) in 2023 may not be the greatest idea, say analysts.
Further Decline in Tron (TRX) Declines Are Expected
2017 saw the launch of Tron (TRX), a digital currency. Tron (TRX) was a popular cryptocurrency at the time. The current price of Tron (TRX) on the market is $0.049. At one point, the value of this coin was above $0.30. Thus, it is not reasonable to consider purchasing Tron (TRX) or Solana (SOL). Since Tron (TRX) will continue to lose upward potential, investors are considering alternatives such as Flasko.
The Future Is Bright for Flasko (FLSK)
When compared to Tron (TRX) and Solana (SOL), crypto experts predict Flasko will have the most growth potential.
By participating in the Flasko project, investors can purchase and trade fractionalized NFTs backed by rare and expensive bottles of wine, champagne, and whiskey.
You may get in on the Flasko presale for only $0.085 per Flasko token. Right now is the best time to purchase Flasko tokens since the cryptocurrency’s value is forecast to increase by 4,500% by the beginning of 2023.
The auditing firm Solid Proof has successfully audited Flasko, and liquidity is locked for the next 33 years. Stay up to date with the Flasko presale by checking out the links below.
Solana’s price continues to look bearish as the participants remain vigilant and the markets continue to remain uncertain. Amid the bearish clouds, the SOL price recorded a notable bounce from the key support levels, which are also the rare supports that may hold the tokens within the 2-digit levels.
However, with the fresh sell-off, the fear of SOL price plunging back to $10 emerges.
The asset has had a very rough start for the month as it suffered a drastic price drop from levels around $36 to as low as $10.6, mainly due to the FTX collapse. While the other assets are struggling to cope with the situation, the SOL price appears to have lowered expectations of a firm upswing.
The SOL price appears to be considerably weak in the daily time frame despite the recovery beyond $14 from $10.6. Moreover, it continues to struggle, aiming for a more relief bounce from the current region. With a bounce, the price may eventually rise beyond 0.23 FIB levels at 17.49 and may reach the required resistance at $20 which corresponds above the FIB levels at $0.38.
Meanwhile, the Solana (SOL) price is more likely to face rejection and again test the lower support close to $10. As the volume has plunged heavily, the price may certainly not ignite a rebound despite the buying volume prevailing to some extent.
Collectively, considering a bullish breakout, the Solana (SOL) price may rise to $30, if the value surpasses $20 in the next few days. Else may continue to hover below $15 and slowly descend and reach a single-digit figure, slicing through pivotal support at $11.
Millions of SOL May Flood Into the Market Soon, Solana Likely to Remain Within the Bearish Captivity for Long
Solana‘s price was badly impacted by the recent FTX meltdown and dropped heavily from levels close to $40 to as low as $12. While many were perplexed because no direct link was visible to the naked eye, the details that emerged later astounded the entire crypto space. Solana in a blog post explained the link between the collapse of both FTT & SOL.
The main highlight of the blog was Solana being the most exposed platform post the FTX collapse. Moreover, the network is also feared to carry the same fate as it has sold millions of SOL tokens to FTX & Alameda Research which are locked right now.
FTX and Alameda Research own nearly 50 million SOL, out of which they received 4 million in August 2020, 34.52 million in September 2020, and 34.52 million in January 2021. The tokens are sold but will be released using the linear monthly unlock mechanism.
Considering the above table. It can be interpreted that Solana has promised the firms to sell, but they may not have custody of the tokens. These tokens will be released for FTX on the basis of linear monthly unlock, of which the last 3 unlocks may occur by January 2028. With the new findings, the SOL price, which was already under extreme pressure, is now in extreme danger.
The SOL price is now testing the lower trend line, which is very crucial at the moment and is believed to drop below the danger zone very soon. Moreover, if FTX & Alameda continue to liquidate their holdings as they receive them, the SOL price may never recover from its bearish captivity.
Presently, the SOL price is trading near crucial levels after dropping by more than 60% in the recent past. If the asset finds more capital, a push may probably rise back above $40–$50, which carries fewer chances of occurring. Meanwhile, if the SOL price fails to sustain at the current levels and slides down hard below $13, a steep drop to $2 to $4 is pretty much possible due to a lack of liquidity at these levels.
The Solana price prediction appears to be pretty pessimistic, but the current realities may be quite likely.
There was no cryptocurrency spared from the obliteration the industry faced in 2022, where even top cryptos like Uniswap (UNI) and Solana (SOL) fell far by the wayside from their respective all-time highs.
However, hope springs eternal in the crypto scene – and there are promising projects that are launching literally every day. One of those is alternative investments Flasko, which opens up the world of rare wines, whiskeys, and champagnes – an asset class that has performed better than traditional equities and commodities – for everyone.
Uniswap (UNI): Losing Investor Appeal Everyday
Uniswap (UNI) delivered utility and value by being the first decentralized exchange enabling users to trade crypto assets without having to rely on traditional order books. Uniswap (UNI) made waves after airdropping users Uniswap (UNI) tokens, which subsequently rose all the way to $45 after the exuberance of the 2021 bullrun. Since then, Uniswap (UNI) is trading at 87% below its ATH levels, now at $5.92 per Uniswap (UNI) token.
Investors who plan to buy the dip beware: it will take tens of billions of dollars in fresh capital for Uniswap (UNI) to get anywhere remotely close to its ATH levels. You’re better off investing in presale gems like Flasko.
Solana (SOL): Zero Momentum Left
Solana (SOL) is a cryptocurrency many investors will be familiar with, considering its epic run in 2021 which saw the so-called “Ethereum Killer” hit all-time highs of $260 per Solana (SOL) token. Solana (SOL) made its name as a smart contract platform that marketed itself as a faster, cheaper, and more secure alternative to Ethereum (ETH). Solana (SOL) became home to an expansive ecosystem supporting dapps, NFTs, and DeFi as it skyrocketed in popularity. However, Solana (SOL) has since fallen by 94% from its ATH levels, now trading at $16.
With the collapse of FTX, and the constant outages and security incidents surrounding Solana (SOL), there’s little to no momentum backing the once-promising project.
Flasko (FLSK): Plenty of Gains to Be Made in Alternative Investments
Investors are always on the hunt for presale opportunities for crypto projects that have real-world use cases and asset backing. Flasko is a project that offers investors exactly just that by opening up the alternative investments sector to everyone.
It is a known fact that the rare wines, whiskeys, and champagnes segment of alternative assets deliver 28% yearly returns to their investors – which, until Flasko came along, was restricted to high net worth individuals and institutions. Flasko is aiming to build the first platform that brings alternative investments incorporating NFTs with the rare wines, whiskeys, and champagnes sector.
The biggest gains to be made in crypto are through presale events similar to what Flasko offers. Flasko has only launched its presale for several weeks – but it has already begun its Phase Two presale. It was a resounding success, with over 10,000 individuals expressing their intent to invest in the platform – and get this – you’re still early!
Flasko has essentially secured its future success by locking platform liquidity for 33 years and by passing a full audit from Solid Proof – making it a safe investment that’s literally programmed to moon in the coming years. You can buy into the Flasko presale at $0.077 per token – which gives you plenty of room to profit given crypto analysts predict it might hit $3-$4 per token in 2023.