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.

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The article discusses various methods for valuing cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and BNB Chain (BNB). It covers approaches like the total addressable market, stock-to-flow model, Metcalfe's law, cost of production, discounted cash flow, network effects, and tokenomics. It also touches on valuing decentralized applications (DeFi) using financial ratios similar to traditional finance.

Portfolio Pulse from Stjepan Kalinic

December 02, 2023 | 4:32 pm

The cryptocurrency market saw significant activity with Shiba Inu's burn rate increasing by 500%, the creation of Kissinger-themed tokens post-Henry Kissinger's death, anticipation of Spot Bitcoin ETF approval, and predictions of price movements for Bitcoin and other cryptocurrencies. Shiba Inu burned 83 million tokens, Kissinger tokens generated over $307,000 in trading volume, and Bitcoin is forecasted to reach $524,000 in the next four years.

Portfolio Pulse from Benzinga Neuro

December 02, 2023 | 2:35 pm

A cryptocurrency analyst, Altcoin Sherpa, predicts a gradual decline for Solana (SOL), Chainlink (LINK), Avalanche (AVAX), and Rune (RUNE), based on technical indicators like the .382 Fibonacci retracement levels and the 200-day EMAs. The analyst expects a 'grind down' period before a potential robust upward movement in January.

Portfolio Pulse from Murtuza Merchant

November 30, 2023 | 7:36 pm

Solana (SOL) has seen a significant increase of over 80% in the past month, outperforming other Layer-1 cryptos such as Ethereum (ETH) and Bitcoin. With a market cap expansion of 3.9% and a 70% surge in the past 30 days, SOL's year gains are at 340%. The blockchain's speed and cost efficiency, along with the upcoming Firedancer validator, are notable developments. Solana's adoption by Visa and Shopify, and positive remarks from ARK Invest's CEO Cathie Wood, contribute to its strong performance. The digital asset sector has seen large inflows, with Solana receiving $3.5 million.

Portfolio Pulse from Khyathi Dalal

November 29, 2023 | 9:57 pm

Raoul Pal, a former Goldman Sachs executive, shared his insights on the business cycle's impact on asset classes, including cryptocurrencies. He indicated that current ISM levels suggest low GDP growth, affecting cyclical stocks, the Russell 2000 (RTY), and commodities. However, his lead indicator for ISM is rising, which is typically beneficial for the S&P 500 (SPX). Pal predicts a strong year in 2024 for growth assets like the NASDAQ (NDX) and cryptocurrencies, with a focus on established cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). He warns of the risks associated with trading altcoins outside the top 10.

Portfolio Pulse from Murtuza Merchant

November 29, 2023 | 5:14 pm

Solana's (CRYPTO: SOL) price has dropped 4.89% in the last 24 hours to $54.19, continuing a weekly negative trend with a 9.0% loss. Trading volume decreased by 33.0%, while circulating supply rose by 0.73% to over 423.43 million. Solana's market cap ranks #7 at $23.04 billion.

Portfolio Pulse from Benzinga Insights

November 27, 2023 | 3:00 pm

Bitcoin (BTC) surpassed the $38,000 mark, influenced by the potential approval of spot Bitcoin ETFs and Binance's settlement with the U.S. DoJ. Binance, under CEO Changpeng Zhao, agreed to pay $4.3 billion to resolve investigations, avoiding operational disruption and jail for Zhao. The ETF anticipation has increased Bitcoin transaction fees. Other cryptocurrencies like Ethereum (ETH), Dogecoin (DOGE), Binance Coin (BNB), Solana (SOL), and Shiba Inu (ADA) also saw gains.

Portfolio Pulse from Murtuza Merchant

November 24, 2023 | 5:38 pm

Solana's (CRYPTO: SOL) price has dropped 8.8% in the last 24 hours to $54.73, continuing a weekly downtrend with a 4.0% loss. Trading volume decreased by 34.0%, while circulating supply rose by 0.63%. Solana's market cap ranks #7 at $23.27 billion.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 3:00 pm

Kaspa (CRYPTO: KAS), a layer-1 blockchain token, has surged by 2500% year-to-date, outperforming Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The rise followed Binance's announcement of listing KAS for perpetual trading. Cryptocurrency analyst CrediBULL Crypto predicts Kaspa will break into the top 20 coins by market cap, citing 'one of the cleanest charts I've seen in years.'

Portfolio Pulse from Mehab Qureshi

November 21, 2023 | 10:13 am

BONK, a meme coin in the Solana ecosystem, has surged by 1700% in the past month, outperforming other meme coins like Dogecoin and Shiba Inu. Despite a 29% drop from its all-time high, BONK's rise is notable in the wake of FTX's collapse, which affected the Solana network. BONK's airdrop during Christmas 2022 and its tokenomics have contributed to its demand and performance.

Portfolio Pulse from Mehab Qureshi

November 21, 2023 | 5:07 am

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