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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) has experienced a 5% price drop in the past 24 hours, continuing a week-long decline of 12%. Trading volume has decreased by 19% over the past week, while circulating supply has increased slightly by 0.26%. Solana's market cap is currently ranked #5 at $65.13 billion.

Portfolio Pulse from Benzinga Insights

June 14, 2024 | 7:02 pm

Arthur Hayes and Raoul Pal predict the rise of a Dogecoin ETF and emphasize the importance of holding onto crypto assets. They highlight Bitcoin as a foundational asset and foresee Aptos surpassing Solana in the Layer-1 blockchain race. They also discuss the risks associated with centralized crypto custody and the potential for a liquidity-driven market surge.

Portfolio Pulse from Khyathi Dalal

June 14, 2024 | 2:51 pm

Cryptocurrency markets are trading in the red following the FOMC meeting, with Bitcoin, Ethereum, and Dogecoin experiencing declines. Notable developments include MicroStrategy's plan to raise $500M to boost Bitcoin holdings and the listing of a Bitcoin ETF by Commonwealth Bank of Australia. Despite the downturn, some analysts remain optimistic about Bitcoin's long-term prospects.

Portfolio Pulse from Khyathi Dalal

June 13, 2024 | 9:21 pm

CrediBULL Crypto has highlighted critical levels for Solana (SOL) and Dogecoin (DOGE), suggesting potential market movements. Both cryptocurrencies are at 'make it or break it' levels, with SOL potentially dropping to $115. The influencer has exited his short positions, awaiting market reactions. Another trader sees SOL potentially dropping to $140. In the past 24 hours, SOL and DOGE are down 7% and 5%, respectively.

Portfolio Pulse from Khyathi Dalal

June 13, 2024 | 6:52 pm

Shopify merchants can now accept payments in hundreds of cryptocurrencies through an upgraded Solana Pay plugin by Helio. This integration aims to enhance the payment experience and customer loyalty programs, offering low-fee transactions and real-time conversions to stablecoins. The plugin has processed $50 million in transactions in its first six months, saving merchants over $1 million in fees. Notable brands like Solana Mobile and Hivemapper are early adopters.

Portfolio Pulse from Murtuza Merchant

June 13, 2024 | 3:05 pm

Elon Musk's decision to make 'likes' private on X (formerly Twitter) has sparked controversy in the cryptocurrency community. Mert Mumtaz, CEO of Helius, criticized the move, citing increased bot activity and potential manipulation, particularly harmful to the crypto space.

Portfolio Pulse from Murtuza Merchant

June 13, 2024 | 1:42 pm

Circle, the issuer of USD Coin (USDC), has expanded its Web3 services to Solana, launching Programmable Wallets and Gas Stations to simplify decentralized app development. This move aims to attract more developers by reducing technical challenges and transaction fees.

Portfolio Pulse from Aniket Verma

June 13, 2024 | 9:02 am

The memecoin market saw a significant rally led by Dogecoin, Pepe, and Bonk, following a week-long corrective phase. Dogecoin gained over 4% in the last 24 hours, with trading volumes surging to $1.2 billion. Bonk and Pepe also saw notable gains and increased trading volumes. The total memecoin market cap rose by 5.14% to $56.12 billion, coinciding with positive inflation statistics and forecasts of an altcoin boom.

Portfolio Pulse from Aniket Verma

June 13, 2024 | 3:59 am

Cryptocurrency markets initially surged on positive CPI data but retraced after a hawkish FOMC press conference. Bitcoin, Ethereum, and Dogecoin saw notable price movements. Key statistics include high short liquidations and increased large transaction volumes. Ethereum is considered undervalued by some traders, while Solana and Ripple ETFs are unlikely in the near future.

Portfolio Pulse from Khyathi Dalal

June 12, 2024 | 8:13 pm

Rob Marrocco, VP at Cboe, expressed skepticism about the near-term feasibility of Solana and Ripple ETFs due to the absence of a futures market. He emphasized the need for a comprehensive regulatory framework for cryptocurrencies. The passage of the FIT21 Act could play a crucial role in shaping the future landscape of digital asset investment.

Portfolio Pulse from Murtuza Merchant

June 12, 2024 | 1:44 pm

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