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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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Bitcoin has dropped to $60K, influenced by the first net outflow from Bitcoin spot ETFs in nearly a week. Grayscale Bitcoin Trust led the outflow, while BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund saw inflows. The decline also affected other major cryptocurrencies like Ethereum, Solana, and Dogecoin. Market analysts attribute the downturn to the anticipated distribution of Bitcoin from the defunct Mt. Gox exchange. Despite the current bearish sentiment, some analysts remain cautiously optimistic about Bitcoin's future price targets.

Portfolio Pulse from Murtuza Merchant

July 03, 2024 | 11:15 am

Cryptocurrency markets are trading lower despite positive indicators such as increased Bitcoin ETF flows, exchange netflows, and whale transactions. Bitcoin, Ethereum, and Dogecoin have all seen declines, while Solana has gained. Notable developments include Standard Chartered's prediction of Bitcoin reaching $100K by the US election and Robinhood's potential expansion into cryptocurrency futures markets.

Portfolio Pulse from Khyathi Dalal

July 02, 2024 | 9:26 pm

Solana's (CRYPTO: SOL) price increased by 3.38% in the past 24 hours to $152.64, continuing a positive trend with a 7.0% gain over the past week. Despite a 39.0% decrease in trading volume, Solana's market cap stands at $70.64 billion, ranking it #5.

Portfolio Pulse from Benzinga Insights

July 02, 2024 | 7:00 pm

Bonk (CRYPTO: BONK), a Solana-based meme token, surged over 13% in the last 24 hours, outperforming major cryptocurrencies like Bitcoin and Ethereum. The trading volume for BONK increased by 132% to $329.16 million. Influencer Jakey's support and the coin's role in reviving Solana post-FTX collapse contributed to the bullish sentiment.

Portfolio Pulse from Aniket Verma

July 02, 2024 | 3:17 am

Cryptocurrency markets are trading higher with Bitcoin, Ethereum, and Dogecoin starting July in the green. Miner selling is reportedly subsiding. Notable developments include Robinhood's acquisition of Pluto Capital, DOJ's partnership with Coinbase, and Sony's entry into crypto. Bitcoin's key metrics show a decline, but open interest is at a weekly high. The SEC is suing Silvergate for securities fraud.

Portfolio Pulse from Khyathi Dalal

July 01, 2024 | 8:57 pm

Solana (SOL) has surged 16% over the past week, outperforming Bitcoin (BTC) and Ethereum (ETH), driven by new applications for spot ETFs tracking Solana's price. VanEck and 21Shares have filed for these ETFs, boosting Solana's trading volume and price.

Portfolio Pulse from Aniket Verma

July 01, 2024 | 3:23 am

Emerging memecoins like dogwifhat and Pepe have outperformed established players like Dogecoin and Shiba Inu in the first half of 2024. Ethereum-based Mog Coin was the biggest gainer with a 4959.69% return, followed by Solana-based dogwifhat with a 1385% profit. Despite their volatility, these memecoins continue to attract investors seeking quick returns.

Portfolio Pulse from Aniket Verma

July 01, 2024 | 3:00 am

Cryptocurrency markets are trading down despite unchanged U.S. inflation in May. Bitcoin, Ethereum, and Dogecoin have seen price declines. Notable developments include Bolivia legalizing Bitcoin and Bitcoin-powered Core Blockchain launching an exchange-traded product in Sweden. Analysts predict a bullish trend for Bitcoin by year-end.

Portfolio Pulse from Khyathi Dalal

June 28, 2024 | 7:18 pm

21Shares has filed for a Solana (SOL) spot ETF, following VanEck's similar filing. The ETF aims to track SOL's performance and will hold SOL, valuing shares daily based on a designated index. The filing includes a contingency plan for regulatory changes, highlighting ongoing uncertainty. If approved, the ETF would offer investors exposure to Solana without directly purchasing the cryptocurrency.

Portfolio Pulse from Murtuza Merchant

June 28, 2024 | 5:42 pm

Solana (SOL) has experienced a 4.03% price drop in the past 24 hours, contrasting with its 8.0% gain over the past week. Trading volume has increased by 16.0%, and the circulating supply has risen by 0.2%, bringing the market cap to $65.60 billion.

Portfolio Pulse from Benzinga Insights

June 28, 2024 | 3:00 pm

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