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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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Solana (SOL) is up 7% and could reach 50% of Ethereum's (ETH) valuation, driven by bullish sentiment and potential ETF approval. Increased on-chain activity and high liquidity make SOL a strong asset. Non-vote transactions on Solana hit an all-time high, and open interest surged to $2.14 billion.

Portfolio Pulse from Khyathi Dalal

July 15, 2024 | 7:16 pm

Solana (SOL) has seen a price increase of 5.78% in the past 24 hours, continuing a positive trend with a 10% gain over the past week. Despite the price rise, trading volume has decreased by 33% over the week, and the circulating supply has decreased by 0.41%. Solana's market cap is currently ranked #5 at $70.87 billion.

Portfolio Pulse from Benzinga Insights

July 15, 2024 | 3:01 pm

The global cryptocurrency markets are trading lower due to Mt Gox repayments, Germany transferring Bitcoin, and a spike in short liquidations. Bitcoin, Ethereum, and Dogecoin are among the cryptocurrencies experiencing declines. Notable statistics include a surge in large Bitcoin transactions and exchange netflows, and significant short liquidations. Key developments include Mt. Gox beginning repayments and Justin Sun offering to buy Bitcoin off-market from the German government.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 8:43 pm

Multicoin Capital has announced a $1 million match for donations made in Solana (SOL) tokens to the Sentinel Action Fund (SAF) to support pro-crypto Senate candidates. This initiative aims to amplify contributions and support candidates who advocate for responsible crypto innovation.

Portfolio Pulse from Murtuza Merchant

July 05, 2024 | 8:25 pm

European stocks and the British pound surged ahead of the UK election results, with the Labour Party expected to win a landslide victory. The FTSE 100 Index rose over 1%, led by Smith & Nephew, Bunzl, Melrose, and Barclays. The Invesco CurrencyShares British Pound Sterling ETF (FXB) edged 0.2% higher. The broader Euro STOXX 50 Index, tracked by the SPDR DJ Euro STOXX 50 ETF (FEZ), closed 0.4% higher. Cryptocurrencies, including Bitcoin, Ethereum, Solana, Ripple, and Cardano, saw significant declines.

Portfolio Pulse from Piero Cingari

July 05, 2024 | 3:00 pm

Cryptocurrency markets are trading lower with Bitcoin, Ethereum, and Dogecoin all in the red. Bitcoin is struggling to maintain its $60,000 support level. Notable statistics include a drop in Bitcoin's large transaction volume and daily active addresses. Significant liquidations and open interest levels are also observed. CoinDCX has acquired BitOasis, marking its entry into the MENA market. Analysts predict potential further declines if Bitcoin breaks key support levels.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 2:59 pm

Experts discuss the decoupling of Bitcoin and Ethereum from tech stocks, suggesting a maturing market. While the Nasdaq, led by Nvidia, continues to rally, Bitcoin and Ethereum remain range-bound. Rising expectations for Fed rate cuts could be bullish for crypto, but the upcoming U.S. election adds uncertainty.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 2:59 pm

Capriole Fund founder Charles Edwards expressed skepticism about the practical uses of cryptocurrencies in 2024, highlighting Bitcoin hodling and meme coin gambling as the only active use cases. He criticized the current state of DeFi, NFTs, and other crypto applications, suggesting that Bitcoin, stablecoins, and futures arbitrage are the only high-value products.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 2:58 pm

Matthew Sigel, VanEck’s Head of Digital Assets Research, stated that cryptocurrency voters could influence the upcoming U.S. presidential election. He noted a shift in the regulatory environment with more Democrats supporting pro-crypto legislation. Sigel emphasized the importance of regulatory treatment of Ethereum and Solana, and criticized SEC Chair Gary Gensler's approach. He expressed optimism for the approval of digital asset ETFs with a slight regulatory shift.

Portfolio Pulse from Murtuza Merchant

July 03, 2024 | 1:57 pm

The Joe Biden-inspired meme coin, Jeo Boden (CRYPTO: BODEN), has seen a significant drop of 95% from its highs, raising questions about its survival. Prominent crypto traders have highlighted the coin's poor performance, attributing it to Biden's age-related issues and the aftermath of the first presidential debate. The coin's current valuation stands at $30 million, with some traders planning to double down at a $24 million valuation.

Portfolio Pulse from Khyathi Dalal

July 03, 2024 | 1:26 pm

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