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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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JPMorgan's Nikolaos Panigirtzoglou expressed skepticism about the SEC approving additional cryptocurrency ETFs beyond Ethereum, citing concerns over the classification of most cryptocurrencies as securities. Despite the recent approval of spot Ethereum ETFs, the future of ETFs for cryptocurrencies like Solana remains uncertain.

Portfolio Pulse from Ivan Crnogatić

May 27, 2024 | 8:00 pm

Solana's (SOL) price has increased by 5.12% within the past 24 hours to $170.21, despite a 5.0% loss over the past week. The trading volume has decreased by 18.0% over the past week, and the circulating supply has decreased by 0.11% to over 449.52 million. Solana's market cap is currently ranked #5 at $76.52 billion.

Portfolio Pulse from Benzinga Insights

May 27, 2024 | 7:00 pm

Prominent crypto trader Cold Blooded Shiller highlighted the strong performance of Solana meme coin Bonk (BONK), which is up 53% on the week. BONK has outperformed Dogecoin (DOGE) and Shiba Inu (SHIB), which are up 13.3% and 7.4% respectively. The trader emphasized the importance of reacting to high-timeframe signals even when lower-timeframe prices have surged.

Portfolio Pulse from Ivan Crnogatić

May 27, 2024 | 4:45 pm

A crypto whale invested $24.7 million in Ethereum-based altcoins following the SEC's approval of a spot Ethereum ETF. The whale accumulated altcoins like Lido, Uniswap, Aave, Ethereum Name Service, and Fraxshare, resulting in an unrealized profit of around $1.1 million.

Portfolio Pulse from Benzinga Neuro

May 27, 2024 | 2:28 pm

Caitlyn Jenner's official X account promoted a new cryptocurrency called JENNER, raising doubts about its authenticity. Despite skepticism, the coin saw a massive surge in value. This incident highlights the risks associated with memecoins and potential scams in the crypto market.

Portfolio Pulse from Aniket Verma

May 27, 2024 | 9:11 am

Cryptocurrency markets are up with Bitcoin and Dogecoin showing gains, while Ethereum lags despite the approval of a spot Ethereum ETF. Bitcoin saw significant whale purchases and low liquidation levels. Analysts predict bullish momentum for Bitcoin if prices hold over the weekend.

Portfolio Pulse from Khyathi Dalal

May 24, 2024 | 7:42 pm

Kabosu, the Shiba Inu dog that inspired the Doge meme and Dogecoin, has passed away at the age of 18. Tributes poured in from various sources, including Elon Musk and Dogecoin co-creator Billy Markus. Musk's tweet caused a brief spike in Dogecoin's price.

Portfolio Pulse from Chris Katje

May 24, 2024 | 6:42 pm

The FTX bankruptcy estate has finalized the sale of $2.6 billion worth of Solana (SOL) tokens at significant discounts. Figure Markets and Pantera Capital were among the buyers, with Figure acquiring 800,000 tokens for $80 million. Solana's price dropped by 3.3% following the news.

Portfolio Pulse from Murtuza Merchant

May 24, 2024 | 5:56 pm

Cryptocurrency markets are slightly down as the Ethereum ETF decision looms. Major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are trading lower. The S&P Global US Services and Manufacturing PMIs have risen, exceeding market expectations. Charles Schwab's survey shows traders view cryptocurrencies as risky, and the House passed a bill to ban the Federal Reserve from establishing a CBDC. Bitcoin long liquidations peaked at a two-week high, and notable developments include Wisconsin becoming the first state to buy Bitcoin.

Portfolio Pulse from Khyathi Dalal

May 23, 2024 | 8:31 pm

Cryptocurrency trader Wazz Crypto discusses the challenges Solana (SOL) will face in outperforming Ethereum (ETH) due to factors like inflation rates, supply overhang, and Ethereum's institutional advantage. Despite Solana's on-chain activity, Ethereum's potential ETF approval and robust DeFi ecosystem make it a more stable investment.

Portfolio Pulse from Khyathi Dalal

May 23, 2024 | 6:38 pm

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