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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 trader Cred suggests that a barbell portfolio of Bitcoin (BTC) and meme coins is currently the most profitable trading strategy, diverging from the traditional risk curve strategy. He notes unusual weakness in Ethereum (ETH) and its ecosystem, while meme coins on Solana (SOL) outperform. The market shows unevenly distributed returns, leading to diverse trader experiences and perspectives.

Portfolio Pulse from Khyathi Dalal

May 15, 2024 | 5:17 pm

Solana (SOL) has seen a 6.02% price increase in the past 24 hours, continuing a positive trend with a 2.0% gain over the past week. The coin's trading volume has decreased by 1.0%, while its circulating supply has increased by 0.55%. Solana's current market cap is $68.29 billion, ranking it #5.

Portfolio Pulse from Benzinga Insights

May 15, 2024 | 3:01 pm

A core developer for the Solana-based decentralized exchange Cypher admitted to misappropriating $300 million meant for hack victims, leading to concerns over the integrity of the ecosystem. The developer, known as 'Hoak,' publicly confessed to gambling away the funds. This incident follows a previous hack on the platform, raising further questions about security and trust within the Solana ecosystem.

Portfolio Pulse from Aniket Verma

May 15, 2024 | 8:24 am

Pepe (PEPE) meme coin surged to an all-time high, outperforming major cryptocurrencies like Solana, BNB, and Dogecoin in 24-hour trading volume. The surge was driven by retail trader interest and marked the start of a new meme coin bull market.

Portfolio Pulse from Aniket Verma

May 15, 2024 | 4:06 am

Cryptocurrency markets are experiencing a downturn due to recent spikes in PPI and consumer inflation data, with major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin trading lower. Notable developments include OKX's entry into the Australian market, Wisconsin's investment in BlackRock's Bitcoin ETF, and Ark Invest's stock transactions. Analysts view the corrections as healthy and part of the market's cycle, emphasizing the importance of support levels and market opportunities during these periods.

Portfolio Pulse from Khyathi Dalal

May 14, 2024 | 8:48 pm

April's Producer Price Inflation (PPI) data, showing a 0.5% month-over-month increase, led to a downturn in cryptocurrency markets, with Bitcoin sliding 2%. Federal Reserve Chair Jerome Powell described the data as 'mixed', and despite some cryptocurrencies like Worldcoin and Render experiencing significant losses, technical analysis suggests a potential rebound for Bitcoin.

Portfolio Pulse from Khyathi Dalal

May 14, 2024 | 5:51 pm

Ethereum (ETH) has underperformed compared to Bitcoin (BTC) and Solana (SOL) over the past year, facing challenges from competition, regulatory scrutiny, and market dynamics. Despite this, positive developments such as potential for an Ethereum ETF, tokenization narratives, and L2 growth offer hope for its future. Bitcoin's acceptance in traditional finance and Solana's meme coin popularity highlight their strengths, while Ethereum must navigate SEC investigations and seek new demand sources to regain momentum.

Portfolio Pulse from Khyathi Dalal

May 14, 2024 | 2:47 pm

A trader achieved a 553x return on investment with Michi, a new cat-themed meme coin on the Solana blockchain, turning $3,540 into $1.88 million. The article also compares the performance of various meme coins over the past month, highlighting significant gains and losses among them. Michi's association with a popular internet cat and its substantial valuation are emphasized, alongside the potential of meme coins in the cryptocurrency market.

Portfolio Pulse from Khyathi Dalal

May 14, 2024 | 10:57 am

Coinbase Global Inc. (NASDAQ:COIN) experienced a three-hour system-wide outage, causing concern among its users. The company assured that funds were safe and resolved the issue, although some transaction failures might persist. This event highlights the heightened sensitivity of crypto exchange users to platform stability, especially following the FTX collapse.

Portfolio Pulse from Aniket Verma

May 14, 2024 | 8:00 am

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