Streetbeat News

SOLUSD

Solana / US Dollar

https://solana.com/

Industry

Digital Currency

Solana is a public, open-source blockchain that supports smart contracts, including non-fungible tokens (NFTs) and a variety of decentralized applications (dApps). Native to Solana's blockchain is the SOL token which provides network security through staking as well as a means of transferring value.

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Ethereum has seen a 22% decline in the past month, but trader Eugene Ng Ah Sio anticipates a potential rally. Despite disappointing Ethereum ETF flows, the negative sentiment and whale capitulation suggest a low positioning for Ethereum, which could lead to a rally. The lack of a Solana ETF and potential unwinding of SOL positions may also shift market dynamics in Ethereum's favor.

Portfolio Pulse from Khyathi Dalal

August 23, 2024 | 5:28 pm

Layer 1 blockchains like Bitcoin and Ethereum have outperformed Layer 2 blockchains this year, with Bitcoin and Ethereum up over 32%. Despite the initial hype around Layer 2 solutions, Layer 1s have proven to be less risky investments. Chromia, a Layer 1 blockchain, is taking a unique approach by integrating Layer 2 solutions into its platform.

Portfolio Pulse from Kenneth Rapoza

August 23, 2024 | 2:07 pm

Cryptocurrency markets are slightly down as traders anticipate Jerome Powell's guidance on potential rate cuts. Bitcoin, Ethereum, and Dogecoin are experiencing minor declines, while Shiba Inu sees a slight gain. Notable developments include Donald Trump's launch of a crypto platform and discussions on Bitcoin's transformative technology.

Portfolio Pulse from Khyathi Dalal

August 22, 2024 | 7:30 pm

Bloomberg ETF analysts discuss the growth and challenges of cryptocurrency ETFs, highlighting Bitcoin ETFs' significant inflows and Ethereum ETFs' struggles. They also mention the volatility of leveraged MicroStrategy ETFs.

Portfolio Pulse from Khyathi Dalal

August 22, 2024 | 6:21 pm

Technical analysts express cautious optimism about Bitcoin and Ethereum, noting constructive patterns in their charts. Bitcoin holds above previous highs, while Ethereum bounces from support. Concerns are raised about Solana's chart, and a shift towards quality projects is suggested.

Portfolio Pulse from Khyathi Dalal

August 22, 2024 | 5:31 pm

Cryptocurrency markets are rising as Kamala Harris' campaign supports policies to expand the crypto industry. Bitcoin has surpassed $61,000, with Ethereum and Dogecoin also seeing gains. Large transaction volumes remain flat, but transactions over $100,000 have increased. The crypto community is optimistic about future price movements.

Portfolio Pulse from Khyathi Dalal

August 21, 2024 | 8:22 pm

Bitcoin and Ethereum ETFs show mixed flows with Bitcoin ETFs seeing significant inflows, while Ethereum ETFs experience outflows. Despite this, both cryptocurrencies are down. Tron stands out with a 12.5% gain due to developments in its ecosystem. Solana's ETF prospects in the US remain uncertain.

Portfolio Pulse from Murtuza Merchant

August 21, 2024 | 11:27 am

Brazil has approved its second Solana ETF, while the U.S. faces regulatory hurdles for similar products. The SEC rejected proposals for Solana ETFs by VanEck and 21Shares, citing concerns over Solana's status as a security. Analysts suggest approval is unlikely without a change in U.S. regulatory leadership.

Portfolio Pulse from Aniket Verma

August 21, 2024 | 6:17 am

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