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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 seen a significant increase of over 20% in the past week, outperforming Bitcoin and Ethereum. The cryptocurrency has been in the spotlight due to the Jito airdrop and its use in NFTs and blockchain gaming. Partnerships with Visa (NYSE:V) and Shopify (NYSE:SHOP) for payment solutions have also been highlighted. Despite a challenging 2022, Solana has rebounded in 2023, with a 550% increase year-to-date. An investment of $100 in Solana now could potentially return 256.3% if SOL reaches its all-time high of $260.07.

Portfolio Pulse from Chris Katje

December 09, 2023 | 4:58 pm

BONK, a meme coin on the Solana blockchain, surged 36% in a day, outperforming Bitcoin, Ethereum, Dogecoin, and Shiba Inu. BONK reached a new all-time high of $0.000011, with a 946% increase over the last 30 days. The spike in BONK's price and social media interactions coincides with its listing on KuCoin and growing interest in Solana. In contrast, Bitcoin, Dogecoin, and Shiba Inu saw slight declines, while Ethereum increased by 5%.

Portfolio Pulse from Mehab Qureshi

December 08, 2023 | 3:49 am

Jito, a Solana-based liquid staking protocol, announced a token airdrop of its JTO token, rewarding early adopters and community members. The airdrop consists of 10% of the total JTO supply, with 80% going to Jito Points Program participants, 10% to liquidity providers, 5% to early staked SOL holders, and 5% reserved for future community initiatives. The JTO token opened at $1.20 and is trading at $1.83. The airdrop aims to increase user engagement, enhance token distribution, strengthen community sentiment, and attract investment.

Portfolio Pulse from Murtuza Merchant

December 07, 2023 | 10:41 pm

Robinhood Markets Inc. is expanding in the EU with its commission-free cryptocurrency trading service, following its UK stock trading launch. The app offers trading of over 25 cryptocurrencies, including Bitcoin, Ether, and Solana. A loyalty program with Bitcoin cashback is also introduced. Despite a 75% increase in crypto trading volumes in November, Robinhood's overall crypto trading volumes declined by 55% in Q3 year-over-year. Regulatory challenges have led to the removal of some tokens in the U.S., and the company will need to comply with the EU's MiCA regime by 2025.

Portfolio Pulse from Murtuza Merchant

December 07, 2023 | 3:07 pm

A cryptocurrency analyst suggested that FLOKI, a meme coin, could surge by 40%, drawing parallels to the price movements of Solana's meme coin BONK. The prediction is based on structural similarities in their market behavior and recent price actions. Dogecoin's rise to $0.10 has also been noted as a positive sign for meme coins. Additionally, Floki's Head of Operations discussed the strategic launch timing for their play-to-earn NFT game Valhalla, emphasizing its importance to Floki's future.

Portfolio Pulse from Mehab Qureshi

December 07, 2023 | 7:45 am

Solana's (CRYPTO: SOL) price has increased by 3.81% in the last 24 hours, reaching $62.8, continuing a positive trend with a 4.0% gain over the past week. The coin's all-time high is $259.96. Trading volume for Solana has surged by 90.0% over the past week, and the circulating supply has risen by 0.43%, now at 425.47 million. Solana's market cap is currently ranked #6, valued at $26.76 billion.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 3:00 pm

BONK, a new dog-themed token on the Solana blockchain, has surged 80.9% in the past week, reaching a market cap of $497.8 million and becoming the third-largest dog-themed token. Dogecoin (DOGE) and Shiba Inu (SHIB) remain the top two by market cap, with gains of 27.2% and 19.1% respectively. FLOKI and Baby Dogecoin also saw significant gains. The rise of BONK is attributed to the Solana blockchain's efficiency and lower transaction costs, with SOL itself rising by 56% over the last month.

Portfolio Pulse from Murtuza Merchant

December 06, 2023 | 1:25 pm

A crypto analyst, Inmortal, predicts that Solana (SOL) could reach an all-time high of $360 by 2025, a 462% increase from its current price. SOL is currently trading at $64.81, up over 4% in the last 24 hours. Another analyst, Ali, warns of a potential price correction for Solana, with a sell signal on the weekly chart and an overbought RSI. Ali suggests that SOL needs to close above $68.4 to avoid a bearish trend and could target $108. Cathie Wood of ARK Invest praised Solana for being faster and more cost-effective than Ethereum.

Portfolio Pulse from Mehab Qureshi

December 06, 2023 | 5:41 am

BONK, a meme coin on the Solana network, reached a new all-time high of $0.0000066, outperforming Dogecoin and Shiba Inu with a 24-hour increase of 12% and a 750% increase over the last 30 days. The surge is linked to growing investor interest in Solana and BONK's listing on KuCoin. Solana has climbed to become the sixth-largest cryptocurrency by market cap, despite a significant drop from its all-time high in late 2021.

Portfolio Pulse from Mehab Qureshi

December 05, 2023 | 3:41 am

Solana's (CRYPTO: SOL) price has decreased by 3.33% over the past 24 hours to $60.41, despite a 12.0% increase over the past week. The trading volume has increased by 76.0%, while the circulating supply has decreased by 0.28%, with a current market cap ranking of #6 at $25.65 billion.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 7:00 pm

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