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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 (CRYPTO: SOL) has experienced a 3.26% decrease in price over the last 24 hours, marking a continuation of its 11.0% decline over the past week. The trading volume for Solana has decreased by 47.0%, while its circulating supply has slightly increased by 0.18%. Currently, Solana's market cap ranks it as the 5th largest, valued at $41.20 billion.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 3:00 pm

Traders turned a $3,694 investment into $1.78 million by trading $dogwifhat, an Ethereum-based copy of the 'Dogecoin Killer' WIF, potentially indicating insider trading. The trade involved 12 new wallets purchasing $dogwifhat simultaneously with the deployer, leading to significant profits. The incident raises questions about the legitimacy of the Ethereum-based meme token and potential 'pump and dump' scenarios.

Portfolio Pulse from Khyathi Dalal

February 05, 2024 | 7:17 pm

Viral videos of the Charging Bull statue on Wall Street wearing a knitted hat have caused the memecoin Dogwifhat (WIF) to surge 17%. The stunt, which attracted significant attention on social media, has been linked to a potential increase in the coin's popularity, with it trading around $0.25, up from the past 24 hours but still down 50% from its all-time high. The event has been seen as a sign of cryptocurrency culture becoming more mainstream, with memecoins like Dogwifhat, Dogecoin (DOGE), Shiba Inu (SHIB), and Solana (SOL) at the forefront.

Portfolio Pulse from Ivan Crnogatić

February 03, 2024 | 9:24 pm

A report by K33 Research, led by DeFi analyst David Zimmerman, outlines crypto trading strategies post the Spot Bitcoin ETF approval, highlighting a shift in focus from Bitcoin to altcoins like Solana (SOL) for major gains. The report suggests buying opportunities may arise after a significant Bitcoin drop and emphasizes Solana's potential to outperform Ethereum based on on-chain activity. It also notes opportunities in shorting weak performers like Cardano (ADA) during Bitcoin rallies.

Portfolio Pulse from Khyathi Dalal

February 02, 2024 | 5:05 pm

The GME Coin, an unofficial memecoin based on GameStop, has surged in value, coinciding with the anniversary of GameStop's 2021 short squeeze and the increased attention from the Netflix release of 'Dumb Money', a movie about the event. Produced by Sony and grossing over $34 million worldwide, the movie's success on Netflix has paralleled the memecoin's rise. GME Coin, trading on Solana, hit a $56 million market cap, with analysts suggesting it could surpass GameStop's valuation.

Portfolio Pulse from Chris Katje

February 01, 2024 | 9:58 pm

Visa (NYSE:V) has partnered with Transak to enable direct cryptocurrency to fiat withdrawals, allowing users in 145 countries to cash out over 40 cryptocurrencies at 130 million merchant locations. This move, part of Visa's ongoing expansion into cryptocurrency services since 2020, has raised concerns regarding security, user experience, and its impact on the decentralized nature of digital currencies. Despite these concerns, the partnership is seen as a significant step towards mainstream cryptocurrency acceptance, offering users more flexibility and convenience.

Portfolio Pulse from Murtuza Merchant

February 01, 2024 | 5:12 pm

Balaji Srinivasan proposed using Decentralized Autonomous Organizations (DAOs) on Ethereum and Solana blockchains as alternatives to traditional corporate structures in Delaware. This suggestion follows Elon Musk's legal challenges in Delaware, including a court ruling that invalidated his $55.8 billion compensation package from Tesla. Srinivasan's proposal highlights DAOs as modern, transparent, and democratic business models, with recent legislation in Wyoming, Tennessee, and the Marshall Islands recognizing DAOs.

Portfolio Pulse from Mehab Qureshi

February 01, 2024 | 7:40 am

A 17-year-old earned over $1 million from the Jupiter (JUP) airdrop by actively using Jupiter's tools and features on the Solana blockchain. He shared his strategy, which included swapping tokens, placing limit orders, dollar-cost-averaging, and bridging to other blockchains. The JUP token's value rose sharply after the airdrop, with its market cap exceeding $7 billion. The story has garnered significant attention in the crypto community, and investors are looking to replicate his strategy in upcoming JUP airdrops.

Portfolio Pulse from Murtuza Merchant

January 31, 2024 | 8:51 pm

Ethereum (ETH) has seen an 8% increase week-over-week, with mixed analyst views on its performance against Bitcoin (BTC). While some traders expect ETH to underperform BTC, others anticipate a potential bottom for ETH/BTC due to rumors of an Ethereum ETF approval. The SEC has delayed decisions on ETF proposals from Grayscale and BlackRock's iShares Ethereum Trust. Bullish factors for Ethereum include increased staking, deflation, less availability on exchanges, and upcoming upgrades like the Dencun Upgrade. Major projects on the Ethereum network are expected to contribute to its growth, and the BTC/ETH correlation has dropped, suggesting a potential divergence in price movements. Ethereum aims to maintain its lead over Solana (SOL), which is seen as a growing competitor.

Portfolio Pulse from Khyathi Dalal

January 30, 2024 | 11:46 pm

The meme coin with the ticker $GME has seen a 330% increase in value over the past 24 hours, surpassing $40 million in market capitalization. This surge in the cryptocurrency has been accompanied by a significant rise in social media interest, particularly on the platform formerly known as Twitter, where the $GME ticker has been trending. The trading volume of the meme coin has exceeded that of GameStop's stock, with $22.3 million traded in the last day. Crypto researcher Jack Niewold speculates that the market cap of the meme coin could potentially surpass that of GameStop's stock.

Portfolio Pulse from Ivan Crnogatić

January 30, 2024 | 9:34 pm

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