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SOLUSD

Solana / US Dollar

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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Cat-themed meme coin, Cat in a Dogs World (CRYPTO: MEW), emerged as the best-performing cryptocurrency, surging 20% in the last 24 hours. This rally helped investors recover losses from the weekend and improved MEW's monthly gains to 57%. Other Solana-based meme tokens like Dogwifhat (CRYPTO: WIF) and Bonk (CRYPTO: BONK) also saw gains. Despite the surge, a 14% dip in MEW's trading volumes raises questions about the rally's sustainability.

Portfolio Pulse from Aniket Verma

August 07, 2024 | 4:27 am

Eric Trump hinted at a 'big' announcement related to cryptocurrencies and decentralized finance, sparking speculation about a potential Trump memecoin. The Trump family's growing interest in crypto comes as the industry gains mainstream acceptance.

Portfolio Pulse from Aniket Verma

August 07, 2024 | 1:30 am

Cryptocurrency markets are recovering after a strong correction, with notable gains in Bitcoin, Ethereum, Solana, Dogecoin, and Shiba Inu. Robinhood's Q2 earnings preview highlights a favorable environment for crypto trading. Despite market sell-offs, major institutions like BlackRock, Fidelity, Grayscale, and MicroStrategy have not offloaded Bitcoin. Analysts and traders provide mixed views on the market's future, with some seeing potential for Bitcoin to reach $60,000.

Portfolio Pulse from Khyathi Dalal

August 06, 2024 | 8:50 pm

TrumpCoin, a meme coin based on Solana, experienced a dramatic 98% drop in value. Despite the crash, trading volume surged significantly. The coin gained attention due to claims of involvement by Martin Shkreli and Barron Trump, which were later denied by Roger Stone. The volatility of TrumpCoin underscores the unpredictable nature of the crypto market.

Portfolio Pulse from Murtuza Merchant

August 06, 2024 | 12:09 pm

Cryptocurrency markets are experiencing significant declines due to recession fears and geopolitical tensions. Bitcoin, Ethereum, and Dogecoin have seen substantial drops, with Bitcoin liquidations reaching $405 million in the past 24 hours. MicroStrategy's stock has plunged nearly 15% in pre-market trading. Analysts are divided on the future direction of Bitcoin, with some seeing potential for recovery and others predicting further declines.

Portfolio Pulse from Khyathi Dalal

August 05, 2024 | 8:16 pm

Solana (SOL) has experienced a significant price drop of 7.25% in the past 24 hours, continuing a week-long decline of 29.0%. Despite the price drop, trading volume has surged by 303.0% over the past week, and the circulating supply has increased by 0.61%. Solana's market cap is currently ranked #5 at $60.34 billion.

Portfolio Pulse from Benzinga Insights

August 05, 2024 | 7:02 pm

Bitcoin and Ethereum have experienced significant drops of 17% and 23% respectively, amid fears of a global recession and geopolitical tensions. The total cryptocurrency market capitalization has fallen by 16.5%, erasing $510 billion in value over three days. Leveraged positions and geopolitical issues have exacerbated the decline.

Portfolio Pulse from Murtuza Merchant

August 05, 2024 | 12:57 pm

Cryptocurrency markets are trading lower, with Bitcoin, Ethereum, and Dogecoin experiencing notable declines. Large transaction volumes have decreased, while daily active addresses have increased. Morgan Stanley is offering Bitcoin ETFs to select clients, and Alibaba and Nvidia stocks are being used as incentives for crypto trading by Hong Kong's Futu Securities.

Portfolio Pulse from Khyathi Dalal

August 02, 2024 | 8:17 pm

Crypto analyst Miles Deutscher highlights the weakness of the altcoin market against Bitcoin and Ethereum, attributing it to altcoin dispersion, inflows into BTC and ETH spot ETFs, and liquidity moving towards meme coins. He advises focusing on quality assets and taking profits during market rotations.

Portfolio Pulse from Khyathi Dalal

August 02, 2024 | 5:49 pm

Ethereum (ETH) is down 8% over the past month, while Solana (SOL) is up 9.5%. Traders are debating the reasons behind this divergence. Ethereum shows signs of a potential bullish trend, while Solana's technical indicators suggest a buying opportunity. Large transaction volumes and daily active addresses for Ethereum have dropped, but transactions over $100,000 have increased. Solana's total value locked has significantly increased since the beginning of the year.

Portfolio Pulse from Khyathi Dalal

August 02, 2024 | 4:50 pm

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