SOL, HT, ETC and AAVE are pushing toward new highs while Bitcoin trades within a tightening range.
Staking giant Lido looks to bring services to Solana
Infrastructure provider Chorus One believes they can help Lido corner 25% of all staked SOL.
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Serum (SRM) hits a new all-time high as Solana adoption gains traction
SRM price hit a new high as low fees and lightning-quick transaction speeds continue to attract new users to the Solana ecosystem.
Altcoins hit new highs after bulls kick Bitcoin price back above $50K
A quick short squeeze catapulted Bitcoin price above $54,000 and a handful of altcoins rallied to new all-time highs.
Solana Shocks The Bears And Ranges On To New ATH , Aims For $50?
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%).
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.
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:
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.
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.
Altcoins rally as analyst warns Bitcoin is in the ‘$50K – $60K twilight zone’
Ether, MKR and SOL rally to new all-time highs, while Bitcoin’s price is stuck in what one analyst says is a range dominated by bots.
Solana (SOL) hits new highs as DApps, DeFi and stablecoins join the network
Solana price is pushing toward new highs as an increasing number of DApps, DeFi projects and stablecoins build platforms on the network.
Cardano and Polkadot extend staked capitalization dominance
While Cardano and Polkadot are extending their staking dominance, Tezos has plummeted from the top ten by staked capitalization.
Are we there yet? Here’s why one analyst says its not ‘altcoin season’
Altcoins have been on a real tear for months, but Jarvis Labs analyst Ben Lilly says we’re not in an “alt season” just yet.
Top 5 cryptocurrencies to watch this week: BTC, VET, SOL, EOS, FTT
The bulls are trying to stabilize Bitcoin price and if they succeed, VET, SOL, EOS and FTT could quickly bounce back to their local highs.
DeFi tracker Step Finance raises $2M from Solana ecosystem investors
The Solana ecosystem continues its development in DeFi.
Solana (SOL) price rises as airdrops attract new users to the network
Solana price has rallied more than 50% this month as new projects conduct airdrops on SOL blockchain and high Ethereum fees push investors to seek cheaper alternatives.
Solana smashes all resistance to reach ATH, why it could go much higher
Smart contracts platform Solana has performed undaunted by the bears’ onslaught. In the past month, SOL has posted gains exceeding 92%. Its features and applications promise an extension in its uptrend.
Firm Sino Global Capital has published a report pointing out Solana‘s strong points. From its low latency, high performance, its operability with the Proof of History mechanism, Solana’s blockchain is capable of processing 50,000 TPS. Sino Global Capital stated:
(…) without compromising decentralization or security. Solana is uniquely positioned to gain market share from existing smart contract blockchains as well as attract new projects and users to the crypto/blockchain space.
In parallel, Solana users can leverage low fees averaging $0.0007 per transaction with a high level of composability that sets it apart from alternatives.
In the long term, composability in Solana’s blockchain could favor the growth of its DeFi ecosystem, much more so than in other platforms that will implement sharding and second-layer solutions. Sino Global Capital adds:
(…) composability with the entire layer 1 ecosystem. Without fiat onramps on any EVM layer 2s, new users must first transfer funds through Ethereum, costing (~$50 ), while the same onboarding on Solana costs less than 1 cent. Solana.
Solana’s interoperability with Ethereum
To achieve this, BSC has capitalized on its interoperability with Ethereum, low fees, and the broadening of its DeFi ecosystem.
Solana is a platform that offers low costs and speed of BSC, with greater decentralization, its blockchain has more than 600 validators. In comparison, BSC has 21 validators.
During the year, Solana is expected to be portable to Etheruem by receiving support for the EVM as a second-layer solution. Coupled with a more “simplified” user experience, a community of more than 25,000 contributors on GitHub, Rust-based smart contracts.
The firm claims that Solana has greater “accessibility” for new developers and huge potential to implement numerous use cases:
huge potential to build out a new class of decentralized applications that can only be made possible by a high-performance scalable blockchain. With Solana’s scalable processing capacity these use cases can thrive. (…) Decentralized projects for high-frequency trading, central limit order books(CLOB), derivatives, cloud computing, and cloud storage
Another key factor is the significant number of partnerships that have been consolidated around this platform and the DeFi projects that continue to emerge. For example, Audius, Oxygen, Serum, and others. Sino Global Capital concludes:
Solana fills a major performance gap in the world of blockchains while remaining decentralized and composable. A bet on Solana is a bet that one day we will need fully decentralized systems that can support thousands of high-value complex transactions per second and that the chain that can support that scalability and finality today will accrue significant value.
With a parabolic rise across the board, SOL reached an ATH with $27 in the 24-hour chart. However, after a small drop is trading at $26,13 with 8% gains during that period.
Ren price rallies 40% after adding LUNA, SOL and FTM to its ecosystem
Ren continues to gain momentum as the addition of new tokens and the protocol’s focus on DeFi and interoperability leads to an uptick in trading volume.
Top 5 cryptocurrencies to watch this week: BTC, KLAY, VET, SOL, KSM
Bitcoin appears to be preparing for a move toward $60,000, while KLAY, VET, SOL and KSM are attempting to find bullish momentum.
Our Man in Shanghai: Digital yuan tests, ‘bear market’ and ‘NFT’ searches spike
Digital RMB testing for cross border payments and electric vehicles continues, sentiment takes a dive and blockchain events return to meatspace.
Solana raises $40 million in strategic investments from OKEx, MXC exchanges
Over 50 market-ready projects have launched on Solana over the past month. The new capital infusion will help accelerate the growth and development of key projects.
Solana DeFi hackathon winners focus on DEX order books, interoperability
A recent Solana hackathon generated unique ideas leveraging the blockchain’s architecture.
Tether Stablecoin Expands Its Reach to Another Blockchain
Tether has announced the expansion of its USDT token to an eighth blockchain.