The hype around the upcoming product was applying upward pressure on SOL. 

• Preorders have hit 1o0K, making Solana proceed with the production.
• SOL was the best-performing large-cap crypto in the last week.

Solana [SOL] Mobile’s upcoming “Chapter 2” Web3 phone was making waves in the market, with users jostling to get their hands on the device.

A new “chapter” for Solana phones

According to on-chain analytics firm Flipside, around 53.4K units have been preordered as of the 13th of February, nearly a month after Solana announced the successor to the Solana Saga phones.
In fact, one user bought nearly 25 units, shelling out a total of $11,252 on the purchase.
Source: Flipside
Note that this data only accounted for the purchases made through Solana Pay, excluding sales made through Visa or other payment networks.

The countdown begins

Earlier, Solana Mobile announced that preorders for Chapter 2 had reached 100K, a target which ensures the production of the device. With this, the firm also ended its early preorder price of $450. The phones were expected to be shipped in the first half of 2025.

Chapter 2, like its predecessor Solana Saga, was designed to make crypto products and services more accessible to the public, Solana Mobile had previously said.

SOL was pumping but be mindful

It was highly likely that the hype around the upcoming product was applying upward pressure on native token of the ecosystem.
SOL was the best-performing large-cap crypto in the last week, accumulating gains of 18.38%, according to CoinMarketCap.
Having said that, the market sentiment towards the fifth-largest cryptocurrency was still negative as of this writing, AMBCrypto noted using Santiment data.
Moreover, the coin wasn’t generating enough social buzz as seen from the subdued social volume indicator.
Source: Santiment

How much are 1,10,100 SOLs worth today?

The rise in spot prices caused a spike in derivatives traders’ investments. The Open Interest (OI) in SOL futures was sitting at an all-time high (ATH) of $1.7 billion at press time, as per AMBCrypto’s examination of Coinglass data.
Source: Coinglass
However, most of the new positions were betting on SOL’s price decline. The number of shorts vis à vis longs increased in the last four days, suggesting that a reversal was somewhere round the corner.
Source: Coinglass

Next: Crypto whale acquires Render (RNDR), Stacks (STX) & Option2Trade (O2T)

PRESS RELEASE

Crypto whale acquires Render (RNDR), Stacks (STX) & Option2Trade (O2T)

3min Read

In the vast and often tumultuous ocean of cryptocurrency, a notable crypto whale has made waves with a significant acquisition spree, scooping up substantial stakes in Render (RNDR), Stacks (STX), and the innovative Option2Trade (O2T). This strategic move not only showcases a keen eye for promising opportunities but also highlights a broader trend of diversification among savvy investors in the crypto space. Let’s delve into the nuances of these acquisitions and the underlying strategy propelling this crypto whale towards Option2Trade (O2T).
Render (RNDR) and Stacks (STX): Laying the Groundwork
Render (RNDR) and Stacks (STX) have emerged as standout projects within the blockchain ecosystem, each with its unique value proposition. Render (RNDR), with its price remaining elevated, signals a bullish trend, leveraging the power of distributed GPU computing to revolutionize the digital content creation industry. Stacks (STX), on the other hand, with its optimistic price forecast reaching the $5 level, brings smart contracts and decentralized apps to Bitcoin, heralding a new era of utility for the world’s premier cryptocurrency.
The Attraction of Technological Innovation

• The whale’s investment in Render (RNDR) underscores a belief in the future of digital content creation, powered by blockchain technology.
• The stake in Stacks (STX) reflects a strategic bet on the expansion of Bitcoin’s utility, tapping into the burgeoning potential of DeFi and NFTs on the Bitcoin network.

The O2T Vision: Beyond Trading
The acquisition of Option2Trade (O2T) by the crypto whale marks a pivotal moment in this investment saga. Option2Trade’s (O2T) vision of bridging the gap between traditional and crypto trading resonates with investors looking for platforms that not only offer lucrative trading opportunities but also embody the transformative potential of cryptocurrencies across alternative asset markets.
A Pioneer in Trading Innovation
– Option2Trade’s (O2T) commitment to innovation, particularly through the integration of Web3 technology and AI, positions it as a trailblazer in the evolution of trading platforms.
– With a focus on increasing the usability of cryptocurrencies and enhancing portfolio diversification, Option2Trade (O2T) appeals to investors aiming to harness the full potential of digital assets.Why O2T? A Whale’s Perspective
The whale’s diversification into Option2Trade (O2T), alongside Render (RNDR) and Stacks (STX), signifies a strategic approach to investment in the crypto space. Option2Trade (O2T) stands out not just as another asset but as a platform that promises to redefine the trading experience, offering tools, insights, and opportunities tailored to the modern trader’s needs.
Strategic Diversification and Technological Synerg
– The whale’s investment in Option2Trade (O2T) highlights a vision for the future where the lines between traditional and crypto markets blur, creating a unified landscape of opportunity.
– The emphasis on AI-driven trading solutions offers a competitive edge, promising enhanced decision-making and potentially higher returns.
Conclusion: Charting a Course Towards the Future
The crypto whale’s acquisitions of Render (RNDR), Stacks (STX), and notably Option2Trade (O2T) reflect a nuanced strategy of diversification, technological investment, and a forward-looking approach to the crypto market. As these investments unfold, the broader crypto community watches with keen interest, recognizing the potential of such strategic moves to shape the future of digital asset trading. In Option2Trade (O2T), the whale not only sees an investment opportunity but a platform that aligns with a broader vision of crypto’s role in reshaping the financial landscape, making it an integral part of a well-rounded, future-proof portfolio.
For more information on the Option2Trade (O2T) Presale: 
Use promo code O2TLaunch to get 15% bonus
Visit Option2Trade
Join and become a community member: 
https://t.me/O2TOfficial 
https://twitter.com/Option2Trade
Disclaimer: This is a paid post and should not be treated as news/advice.
Previous: Are Solana phones the reason for SOL’s 18% surge?
Next: B2BinPay presents v19 update with expanding blockchain support and instant swaps

Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains. His focus lies on the intersection between cryptos and traditional finance. He prefers DC over Marvel, cats over dogs and Hyderabadi Biryani over Kolkata Biryani.
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Solana (SOL) Price Skyrockets 22% Weekly, Achieving a Massive Milestone

Author: Jose Oramas Last Updated Feb 14, 2024 @ 12:03
Solana’s price is increasing in line with that of the majority of the market. It has managed to achieve a considerable milestone in the meantime.
Solana’s SOL token has achieved a significant milestone in the cryptocurrency market, surpassing Binance’s BNB token to claim the position of the fourth-largest cryptocurrency by total capitalization.
This development comes as SOL witnessed a remarkable price surge of 22% within 7 hours, reaching $116. According to CoinMarketCap data, SOL’s market capitalization stands at around $50 billion, surpassing BNB’s $49.8 billion.
Source: CoinMarketCap
Solana’s ascent to surpass BNB comes despite the network experiencing an outage on Feb. 6, demonstrating resilience even after suffering five hours of downtime, which was attributed to a bug that caused transactions to enter an infinite loop.
Likewise, Solana TVL reached $1.92B on Wednesday, over 500% in appreciation since Oct. 2023. Solana-based DeFi protocols have been netting double-digit increases in TVL while garnering popularity thanks to successful airdrop campaigns.

SOL Peaks Next to Fear & Greed

The surge in SOL’s price coincides with a notable uptick in the Crypto Fear and Greed Index, which entered the “extreme greed” zone for the first time in over two years, surpassing 74 on Tuesday.

More specifically, the metric is at its highest level since November 2021, when Bitcoin peaked at $69,000. The spike also follows Bitcoin’s recent milestone of surpassing $50,000 for the first time since December 2021 and subsequently exploding above $51K today.
However, not all analysts and market observers share the same bullish sentiment, mainly because long-term investors are taking profits, and looming liquidations could push selling pressure even higher.

BNB Struggling to Take Off

While major coins and tokens seemingly take off, BNB has had difficulty gaining traction. The main reason here is the ongoing regulatory issues surrounding Binance.
That, and the fact that Changpeng Zhao — currently out on a $175 million bond — is residing in the US under regulatory scrutiny and legal proceedings, contributes to the uncertainty surrounding BNB’s future trajectory.
Zhao’s sentencing date has been postponed to April 30.
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Three Reasons Why Solana (SOL) could Rise to $150

The price of Solana’s native token, SOL, is up more than 17% over the last seven days to a high of $115 on Feb. 13. The latest rally saw SOL overtake Binance’s BNB token to become the fourth-largest cryptocurrency by market capitalization, according to the CoinMarketCap ranking.
Airdrops and the network’s provision of more affordable solutions and the ability to rebound from the latest outage are the driving forces behind Solana’s bullish run.
What are the factors likely to push SOL toward $150 and beyond?

Solana’s market cap surpasses that of BNB to take 4th place

Solana’s run to $115 took its market capitalization to $50.32 billion, surpassing that of its rival layer 1 token BNB to claim the fourth spot.

Solana’s market cap vs. BNB. Source: TradingView

SOL is up 20% over the last one month and by 72% year-to-date (YTD) leading to growth in its market capitalization. In December 2023, SOL overtook XRP in market value and secured a spot among the top 5 largest cryptocurrencies.
The growth of Solana’s price has caused an increase in interest in the ecosystem and activity on the blockchain.
The surge in Solana’s price comes as the Crypto Fear and Greed Index hit its highest level since November 2021 when SOL reached $260. The index soared to reach this milestone a day after Bitcoin (BTC) crossed the $50,000 mark for the first time in two years.

Crypto Fear & Greed Index. Source: Alternative.me

Solana unfazed by the 5-hour network outage

The SOL token managed to surpass the BNB despite the Solana network suffering an outage on Feb. 6. The outage which lasted close to 5 hours prompted validators to coordinate a software update and restart from a specific slot.
During the downtime, exchanges halted the withdrawal and deposit of Solana and Solana SPL tokens. This affected the ability of the users to interact with DApps. Note that Solana is not new outages, it has experienced twelve similar outages in the past two years.
What sets it apart from others is its closely coordinated software development that enables Solana to formulate and implement upgrades faster than networks compatible with the Ethereum Virtual Machine (EVM).
While Ethereum developers take years to develop, test and implement a new software solution, a similar effort takes a few hours on the Solana mainnet. This difference explains why SOL token was not impacted by the recent network downtime.

Is SOL’s rounded bottom pattern a hint of things to come?

The Solana price action has painted a rounded bottom chart pattern on the daily chart. This is a highly bullish chart pattern that projects a massive breakout on the upside after the price breaks above the neckline.
In SOL’s case, a daily candlestick close above the pattern’s neckline at $120 would confirm a bullish breakout. The target is set at $159, a 41% ascent from the current price.

SOL/USD daily chart. Source: TradingView

This positive outlook is validated by the rising relative strength index (RSI). The price strength at 66 suggested that the buyers still dominated the market.
On the downside, a drop below the pattern would suggest the inability of the buyers to sustain higher levels. The first line of defense would emerge from the $100 psychological level. Additional support lines would emerge from $95 and later the pattern’s bottom at $82.

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