EigenLayer, a DeFi platform, experienced a significant increase in total value locked (TVL) of 207% after raising its liquid restaking cap to 100,000 ETH, resulting in a rise from $78 million to $238 million in TVL.
Bitcoin and other cryptocurrencies are facing intense pressure as prices drop and short-term holders offload their assets, signaling a possible capitulation phase and suggesting further downside potential. Additionally, major altcoins like Ethereum, Solana, and Cardano have witnessed a decline in their Total Value Locked (TVL) over the past week, indicating a decrease in popularity and utilization in the decentralized finance (DeFi) ecosystem.
The total value of assets locked in Solana's blockchain has increased by 50% since the beginning of 2023, with the volume of transactions also rising, indicating a potential recovery in SOL price despite its current downward trend.
Collapsed crypto exchange FTX's new management is potentially planning to sell its large holdings of Solana (SOL) cryptocurrency, prompting Solana co-founder Anatoly Yakovenko to suggest distributing the SOL to ex-FTX customers as a "win-win" solution.
Solana (SOL) price dropped 12% and found support at $19.15, but could rally 10% if bullish momentum continues.
Interest in altcoins may have waned, but Solana remains the most loved altcoin amongst investors, with $700,000 invested in it over the past week and $26 million year-to-date inflows.
The price of Solana (SOL) has dropped over 6% in the last 24 hours due to concerns that bankrupt crypto exchange FTX may sell off significant amounts of SOL and other Solana-based tokens, totaling $128 million, on the market.
The bankrupt FTX estate has amassed around $7 billion in assets, including $1.16 billion in solana tokens and $560 million in bitcoin, as it seeks to return funds to creditors through the sale of its crypto holdings.
FTX, the failed crypto exchange, owns $1.16 billion worth of Solana (SOL) tokens, which represents over one-third of its total liquid crypto portfolio.
Base's TVL has surged to $397.32 million, surpassing Solana's TVL of $358.96 million, while Base-native projects like Aerodrome Finance and Friend.tech contribute significantly to its TVL.
Solana (SOL) has emerged as the preferred altcoin for institutional investors, attracting inflows of $31 million this year and maintaining a positive trend, while Ethereum continues to see outflows for the seventh consecutive week, according to CoinShares.
Crypto analyst predicts that Solana (SOL) could reach 10% of Ethereum's (ETH) market cap, implying a $231 price target for SOL, and potentially even 20% of ETH's market cap which would result in a $461 price target and an ROI of 2,038%.
The FTX bankruptcy estate has staked millions of dollars worth of ether and solana on the blockchain, potentially earning significant rewards in the future.
FTX's bankruptcy estate staked $122 million in Solana (SOL) tokens and $5 million in Ethereum (ETH) in an effort to generate passive yield, as part of the company's "Digital Asset Management and Monetization Program," approved last month.
Solana (SOL) has surged to a three-month high of $26.84, up 12% in the past 24 hours and 26% in the past week, leading to the liquidation of over $6.2 million in short positions, as the cryptocurrency recovers from last year's FTX collapse and benefits from the broader crypto market surge.
Solana (SOL) has seen a significant rally, gaining 11% and outperforming other cryptocurrencies, attributed to rising activity on the Solana network, increased investment in digital asset funds, and the resolution of investor concerns about FTX token sales.
Solana (SOL) is expected to experience a significant breakout once it surpasses the resistance of its multi-month accumulation range, according to a top trader, with the potential for a 20% increase once it breaks $32.
The price of Solana (SOL) has surged to a new yearly high, reaching $32.81, as it retraces the entire decrease caused by the bankruptcy of the FTX exchange, with analysts predicting further increases and a resistance area at $46.
Asset management company VanEck has predicted that the price of Solana's SOL token could soar to $3,211.28 by 2030, a 10,600% increase, and outlined a scenario where Solana becomes the first blockchain to accommodate over 100 million users.
