Renowned analyst Benjamin Cowen warns that Solana (SOL) may follow a similar price trajectory as Cardano (ADA), potentially experiencing a dip below $10 before rebounding and seeing substantial gains, although historical parallels do not guarantee identical outcomes.
Bitcoin and Ether rose over 3% to reach their highest prices in a week, while Solana, NEAR, Cardano, Polkadot, and Binance's altcoins also experienced gains, following a surge in traditional markets; however, experts predict that the downtrend in digital assets may continue for the next few weeks.
Solana (SOL) and Cardano (ADA) led the gains in the crypto market as Bitcoin (BTC) gradually recovered, with large holders returning to the market aiding the recovery.
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.
Solana (SOL) has the potential for significant gains in the next bull market, as it competes against other projects in the crypto space, while Binance Coin (BNB) faces uncertainty due to regulatory developments in the United States.
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.
Solana (SOL) is predicted to outperform Ethereum (ETH) in the next risk expansion in crypto markets, according to venture capitalist Chris Burniske.
OnlyFans' parent company, Fenix, has announced a significant investment of $20 million in Ethereum, indicating growing institutional attention to digital assets, while altcoins like Solana (SOL) and InQubeta (QUBE) are emerging as potential cryptocurrencies to be accumulated due to their disruptive technologies and investment prospects.
Visa's announcement of expanding its stablecoin capabilities to the Solana blockchain caused a 5% increase in the value of Solana's sol token, which aims to rival Ethereum due to its speed and cost effectiveness.
Investor predicts that Solana (SOL) could turn a $75,000 investment into $2 million based on the assumption that the price of Solana will double its all-time high and outperform Ethereum during the next market rally.
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.
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.
Crypto markets experienced a decline as FTX's potential selling pressure raised concerns, causing Bitcoin to fall below $25,000 for the first time since mid-June, and altcoins to underperform, particularly Solana (SOL).
Cryptocurrency asset outflows reached $59.3 million in a four-week streak, driven by regulatory concerns and a decline in trading volumes, with Bitcoin seeing the most outflows while Solana experienced outflows after a nine-week run of inflows.
Crypto investors are discussing their favorite altcoins that have the potential to make them "incredibly rich," with coins like DeFiChain, Solana, Shiba Inu, and Ethereum being mentioned among others.
Bitcoin is showing strength and could reach $28,000 despite negative news, according to Altcoin Sherpa, a popular crypto trader, while cautioning about the downward trend of Ethereum rival Solana.
