Streetbeat News

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.

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

An anonymous Solana trader turned $92 into $1.55 million in 16 days by trading a memecoin called Silly. The trader initially bought 20.5 million SILLY tokens with 0.7 SOL and later sold 5 million of them for 202,575 USDC. The remaining 15 million SILLY tokens are valued at approximately $1.35 million. This showcases the high-risk, high-reward nature of trading memecoins, which are known for their volatility and potential for rapid price changes.

Portfolio Pulse from Murtuza Merchant

December 21, 2023 | 5:43 pm

Bitcoin (BTC) and Ethereum (ETH) saw price increases, with BTC surpassing $44,000 and ETH above $2,200. PancakeSwap (CAKE) was the top gainer, while Helium (HNT) was the biggest loser. The crypto market cap rose to $1.65 trillion, a 24-hour gain of 2.4%. The rise followed U.S. economic data showing a slight increase in jobless claims and a GDP growth of 4.9% for the third quarter.

Portfolio Pulse from Avi Kapoor

December 21, 2023 | 2:36 pm

Messari's Crypto Theses report is bullish on Bitcoin, citing its potential to reach over $600,000 by achieving parity with gold. The report also praises Solana for its transaction speeds and developer community but notes scalability challenges. Ethereum is seen as a higher risk 'beta' asset with potential for greater rewards, despite a predicted price dip in 2024. Messari highlights investments in AI-focused tokens like Ocean Protocol, Akash Network, Tao Network, and Render Network, pointing to the convergence of blockchain and AI as a key trend. The firm's transparency in disclosing analyst positions is seen as a move to enhance informed decision-making in crypto research.

Portfolio Pulse from Murtuza Merchant

December 21, 2023 | 2:18 pm

BONK, a new dog-themed cryptocurrency, surged almost 1,000% recently but has dropped by over 40% from its all-time high. Analysts warn late investors of volatility, with Pentoshi predicting a 50% drop in price within 4-6 weeks. Michaël van de Poppe also suggests a potential correction, advising against buying at this point despite the broader Solana ecosystem's momentum.

Portfolio Pulse from Mehab Qureshi

December 21, 2023 | 11:00 am

Solana (CRYPTO: SOL) has surged 12% and overtaken XRP (CRYPTO: XRP) to become the fifth-largest cryptocurrency by market cap, now valued at $35.5 billion. The increase is attributed to new projects, airdrops, and a high total value locked (TVL), which reached $1.79 billion. Solana's decentralized exchanges (DEX) have also seen a rise in trading volume, with significant growth in TVL for projects like Marinade Finance, Jito, Marginfi, Kamino, and Orca. BONK (CRYPTO: BONK), a coin on the Solana network, has seen a market cap increase to $1.2 billion and a 337% surge in monthly gains. Crypto analysts and traders are expressing optimism about Solana's future.

Portfolio Pulse from Khyathi Dalal

December 20, 2023 | 10:02 pm

Solana's (CRYPTO: SOL) price has increased by 7.7% in the last 24 hours, reaching $78.79, continuing a positive trend with an 18.0% gain over the past week. The coin's all-time high is $259.96. Trading volume for Solana has risen by 11.0% over the past week, and the circulating supply has slightly increased to 427.83 million. Solana's market cap is currently ranked #5 at $33.83 billion.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 3:00 pm

Crypto analyst Bluntz predicts that Solana (SOL) is poised for a significant breakout against Bitcoin (BTC) and in its U.S. dollar pair. Bluntz expects SOL to experience a sharp increase in price once it breaks out of its 37-day range. Another analyst, Deftsuo, also provides a bullish outlook, suggesting SOL could reach $100 if it breaks through the $80 resistance level. The search volume for 'Solana' has surged by 250% over the past two months, indicating growing interest.

Portfolio Pulse from Mehab Qureshi

December 20, 2023 | 1:00 pm

Solana (CRYPTO: SOL) has seen a 500% increase year-to-date in 2023, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). The interest in Solana has been fueled by airdrops, meme coins, and partnerships with Visa Inc (NYSE:V) and Shopify (NYSE:SHOP). Sam Bankman-Fried's historical tweet offering to buy SOL at $3 highlighted a significant investment opportunity. A $1,000 investment in Solana at the time of his tweet could be worth $20,114.46 today, a 1,911.4% return. Solana's momentum continues as it becomes the sixth largest cryptocurrency by market capitalization.

Portfolio Pulse from Chris Katje

December 19, 2023 | 10:24 pm

Metaplex, a protocol on the Solana blockchain, has announced a new standard for immutable digital assets, which is expected to enhance trust in the assets stored on the Solana network. This announcement coincides with a 9.1% increase in SOL's price over the past week. The new standard includes Metaplex Inscriptions and Engravings, aiming to ensure on-chain and immutable digital assets within the Solana ecosystem, as opposed to relying on external services like Arweave, IPFS, and S3.

Portfolio Pulse from Khyathi Dalal

December 19, 2023 | 3:10 pm

Dogwifhat (CRYPTO: WIF), a new Solana-based meme coin, has surged 2000% in value in less than a month, outperforming BONK (CRYPTO: BONK), another Solana-based meme coin. The rise in Dogwifhat's value has also positively affected a collection of 550 Dogwifhat Solana NFTs, with the cheapest item now selling for 13.2 SOL or $955. Solana (CRYPTO: SOL) itself has seen a significant rise in value, but not as much as BONK or WIF.

Portfolio Pulse from Mehab Qureshi

December 19, 2023 | 9:27 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.