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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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Crypto analyst Stockmoney Lizards highlights five critical trends in the current altcoin cycle, emphasizing the importance of newer coins, technological superiority, narrative-driven markets, fundamental analysis, and practical use cases. He notes that newer coins like Injective, Sui, Render, and Fetch.ai have outperformed older altcoins such as Polygon, Cosmos, and Chainlink. Solana and Ethereum are highlighted for their technological advantages and practical use cases.

Portfolio Pulse from Khyathi Dalal

June 12, 2024 | 11:59 am

A petition for a Shiba Inu (SHIB) spot ETF has garnered over 10,000 signatures, indicating strong demand. The petition, initiated in February on Change.org, appeals to Grayscale Investments, the largest digital asset manager and issuer of Bitcoin and upcoming Ethereum spot ETFs.

Portfolio Pulse from Aniket Verma

June 12, 2024 | 6:32 am

Cryptocurrency markets have sold off ahead of the CPI data release, with major coins like Bitcoin, Ethereum, and Dogecoin experiencing significant declines. Bitcoin mining stocks such as Marathon Digital, Riot Platforms, and CleanSpark are also moving. Notable developments include predictions of Bitcoin's future value and Tether's investment plans.

Portfolio Pulse from Khyathi Dalal

June 11, 2024 | 8:18 pm

A Coinmetrics report reveals that meme coins like Dogecoin and Shiba Inu have driven $13 billion in trading volumes over a seven-day period in March, surpassing major assets like Ethereum and Solana. The report highlights the cultural appeal and community-driven origins of these tokens but also warns of risks such as market manipulation and liquidity challenges due to the concentration of ownership among 'whales'.

Portfolio Pulse from Murtuza Merchant

June 11, 2024 | 8:10 pm

Solana (SOL) has experienced a 5.09% price drop in the past 24 hours, continuing a week-long decline of 9.0%. Trading volume has increased by 47.0% over the past week, with a slight increase in circulating supply. Solana's market cap is currently ranked #5 at $70.12 billion.

Portfolio Pulse from Benzinga Insights

June 11, 2024 | 3:00 pm

Bitcoin briefly reached $70,000 before slightly declining, while other major cryptocurrencies like Ethereum and Dogecoin continued to fall. Notable developments include Paraguay selling excess hydro-energy to Bitcoin miners and predictions of a potential altcoin surge. Traders are eyeing a liquidity zone around $73,000 for Bitcoin.

Portfolio Pulse from Khyathi Dalal

June 10, 2024 | 7:48 pm

Economist Henrik Zeberg predicts a significant rise in the altcoin market, suggesting a euphoric bull run is imminent. This comes as central banks, including the ECB, cut rates to prevent a recession. The approval of Ethereum ETFs has intensified competition in the smart contract arena, potentially benefiting altcoins like Cardano and Polkadot.

Portfolio Pulse from Benzinga Neuro

June 10, 2024 | 2:18 pm

Keith Gill, known as Roaring Kitty, posted a meme from 'The Dark Knight,' causing a 14% spike in the GameStop-themed memecoin and a 38% surge in trading volume. However, GameStop shares fell 3.82% in after-hours trading, following a 39.4% drop on Friday.

Portfolio Pulse from Aniket Verma

June 10, 2024 | 2:24 am

This week in crypto saw significant events including 50 Cent's Bitcoin earnings, Cathie Wood's bold Bitcoin prediction, a surge in a cat-themed cryptocurrency due to Roaring Kitty's livestream, and a sell-off in major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. Additionally, Shiba Inu experienced a spike in its burn rate, leading to bullish sentiment.

Portfolio Pulse from Benzinga Neuro

June 09, 2024 | 12:00 pm

Cryptocurrency markets experienced a significant sell-off following the Roaring Kitty live stream, with notable declines in Bitcoin, Ethereum, and Dogecoin. Coinglass data reported $337.08 million in crypto liquidations within four hours, primarily from long positions. Bitcoin holders in profit dropped from 98% to 87%, and exchange netflows surged by 209%. Despite the downturn, Bitcoin ETFs saw inflows of $217.78 million on June 5, pushing total inflows past $15 billion since January.

Portfolio Pulse from Khyathi Dalal

June 07, 2024 | 8:04 pm

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