Source – Medium

Solana (SOL) has been attracting attention in the cryptocurrency sphere, distinguishing itself as one of the few major digital assets to thrive amidst widespread market downturns. Recently, SOL experienced a notable surge of 6.8%, propelling its price to $177.31, as reported by CoinGecko. This upward momentum is particularly noteworthy amid the challenges faced by established cryptocurrencies like Bitcoin and Ethereum.
Source

Anticipation Builds for the Halving Event

The anticipation surrounding Solana and other cryptocurrencies has intensified with the approaching halving event. Scheduled for late April, this event marks a significant shift in Bitcoin’s blockchain, impacting the rate of new Bitcoin creation. Occurring approximately every four years after the addition of 210,000 blocks to the chain, halvings are integral to Bitcoin’s design.

Speculation Mounts on SOL’s Post-Halving Trajectory

As the cryptocurrency community braces for the forthcoming halving, speculation abounds regarding its potential impact on Solana’s price trajectory. Experts are actively engaged in forecasting SOL’s performance post-halving, with predictions spanning a wide spectrum of possibilities.

Analysts offer varied forecasts for SOL’s price movement in April 2024. Projections range from a minimum trading cost of approximately $102.90 to a potential maximum surge of $562.71 during the month. However, the consensus among experts suggests an average value of around $332.81 for Solana.

Also Read: Solana (SOL) Mid-March Price Prediction

Factors Influencing SOL’s Price Dynamics

Several factors contribute to the diversity of forecasts for SOL’s post-halving performance. Solana’s robust technology and expanding ecosystem inspire investor confidence, driving demand for the cryptocurrency. Its innovative approach to scalability and transaction speed positions Solana as a formidable contender in the blockchain landscape.
The broader market context, including the challenges faced by Bitcoin and Ethereum, influences Solana’s price trajectory. Investors often turn to alternative assets like Solana for diversification and potential returns. Moreover, developments within the SOL ecosystem, such as protocol upgrades and institutional adoption, can significantly impact its price performance.
In conclusion, Solana’s post-halving price prediction for April 2024 underscores a spectrum of possibilities. While uncertainties persist, Solana’s robust fundamentals and broader market dynamics signal a promising outlook for this innovative blockchain platform. As the cryptocurrency ecosystem evolves, SOL stands poised to deliver substantial returns for investors willing to navigate its volatility.
Also Read: Solana Breaches $166: How High Can SOL Go This Weekend?

Solana Price Prediction as SOL Reaches Highest Level Since December 2021 – Can SOL Overtake Ethereum?

Solana Price Prediction
Solana’s price prediction gains attention amid broader industry developments, such as Marathon Digital’s strategic expansion and legislative appeals to the SEC regarding cryptocurrency ETFs.
Solana’s performance indicates potential shifts in the future landscape of blockchain technology.

Marathon Digital Expands Influence in Blockchain with Strategic Bitcoin Mining Acquisition

Marathon Digital’s latest move to acquire a 200MW Bitcoin mining facility in Texas for $87.3 million marks a significant leap in its operational capacity, now reaching 1.1 gigawatts. This expansion is poised to:

• Cut the cost of mining per coin by 20%.
• Amplify the company’s growth potential.

Targeting ownership and operation of 54% of its mining infrastructure by 2024, Marathon underlines its commitment to enhancing its footprint in the blockchain sector.

Despite facing a potential hurdle with the upcoming Bitcoin halving in mid-April—which could reduce mining rewards by half—the company has seen a revenue boost in 2023, thanks to increased production levels and Bitcoin’s price increase.
Additionally, Marathon’s new service for faster Bitcoin transactions underscores its innovative approach to blockchain technology.

Marathon to purchase 200MW Bitcoin mining center from Applied Digital for $87.3Mhttps://t.co/112y2U6gKs
— John Morgan (@johnmorganFL) March 15, 2024

This strategic acquisition not only reinforces Marathon’s role in strengthening the Bitcoin network but also may indirectly influence the broader blockchain ecosystem, including networks like Solana.

US Senators Urge SEC to Halt Approvals for Crypto ETFs Amid Concerns

Two US senators have called on SEC Chairman Gary Gensler to stop endorsing new cryptocurrency exchange-traded funds (ETFs), highlighting the risks of fraud and manipulation especially in cryptos beyond Bitcoin.
They emphasize Bitcoin’s relative stability compared to other cryptocurrencies and suggest the SEC’s focus should remain on ensuring investor protection, particularly for those less familiar with the crypto market.

US Senators Push #SEC to Stop Approving Spot #Crypto ETFs — Say Other #Crypto Markets Risker Than #Bitcoin https://t.co/gw51j5FJ19
— Bitcoin.com News (@BTCTN) March 16, 2024

The debate comes as the SEC reviews proposals for spot ether ETFs, with mixed opinions on their approval. The popularity of Bitcoin ETFs could be impacted by these developments, prompting investors to reconsider their capital allocation in the crypto space, with potential implications for Solana’s market positioning.

Solana Price Prediction

Solana (SOL/USD)’s pivot point stands at around $188.69 with resistance levels are identified progressively at $201.35, $214.81, and $227.15, indicating potential hurdles in Solana’s upward trajectory.
Conversely, support levels situated below the pivot—$170.07, $158.56, and $149.35—outline critical zones that could cushion further declines.
Solana Price Prediction
The Relative Strength Index (RSI) stands at 74, signaling a potentially overbought condition that might cap further gains in the near term.
The 50-day Exponential Moving Average (EMA) at $159.00 corroborates the asset’s bullish momentum, highlighting a substantial upward trend.
However, a fall below the pivot point of $188.69 could trigger a significant sell-off, targeting lower support levels.
In conclusion, Solana exhibits a strong bullish posture above its pivot point of $188.69. The technical setup suggests robust upward momentum, but with caution advised due to the high RSI reading.

Eco-Friendly Bitcoin: Pioneering a Sustainable Future in Cryptocurrency Investment

Green Bitcoin is at the forefront of a groundbreaking movement within the cryptocurrency world, marrying environmental preservation’s critical need with the dynamic field of digital currencies.
Token Distribution Overview:

• Initial Offering (40%): Sets the currency in motion with substantial initial energy, laying a foundation for ongoing development.
• Staking Incentives (27.5%): Dedicates a significant portion to reward the continuous engagement of the community, crucial for the ecosystem’s prosperity.
• Promotional Activities (17.5%): Allocates funds to key marketing efforts aimed at enhancing the currency’s global presence.
• Trading Fluidity (10%): Ensures seamless trading experiences, improving the token’s accessibility on various platforms.
• Community Engagement Rewards (5%): Rewards and encourages the active participation of the core community, fostering loyalty and commitment.

The ‘Eco Pathway’ outlines a clear strategy for Eco-Friendly Bitcoin, starting with a value-driven initial offering and moving through targeted initiatives to activate the community and secure the token’s position in the market.
Current Funding: $4,987,799.52 out of $5,375,669
Current Exchange Rate: 1 $EFCB = $0.9922
Dive into the Eco-Friendly Bitcoin universe, where your investment not only seeks profit but also supports a sustainable financial future. By investing now, you become part of a pioneering effort to ensure a cleaner planet.

Get Green Bitcoin Here

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Solana 

Solana (SOL) Price To Hit $210 Or Correction To $180 Ahead?

Table Of Contents

• Solana Rises on its Genesis Day
• SOL Price to $210?

Solana price has hit a high of $198 after a 15% rally in 24 hours and 31% in a week. Solana even witnessed strong upside momentum despite a broader crypto market selloff on Friday. Top reasons behind the rally are Solana-based projects including meme coins and decentralized exchanges.

Solana Rises On Its Genesis Day

“Solana Genesis Day 2024” marks four years of Solana launch on Mainnet Beta, with the primary focus to support smart contracts and decentralized apps. Solana’s total value locked (TVL) reached over $10 billion in November 2021, over a year after the launch. However, it fell after recurrent chain outages.

Happy Genesis Day 2024 to all who celebrate!
276+ billion transactions.
1600+ validators.
254+ million blocks.
Thank you to all the builders around the globe who have made Solana what it is today — 4 years in, we're just getting started pic.twitter.com/3lV0eR2yxk
— Solana (@solana) March 16, 2024

The Growing support for the Solana ecosystem has led to TVL rebounding from $1 billion in January to surpassing $4 billion today. The growth is mainly coming from staking, liquid staking, and decentralized exchanges, as per data by DefiLlama.
Moreover, SOL price rally was support initially supported by Solana-based meme coins such as dogwifhat (WIF), Bonk, Myro, and others during the meme coin frenzy. However, the price rally today is a result of Solana projects including Jupiter, Raydium, and Jito.
Source; DeFiLlama
Also Read: Solana Price Approach $200 Amid Historic Spike in New SPL Token Creation

SOL Price To $210?

SOL price jumped over 15% in the past 24 hours, with the price currently trading at $198. The 24-hour low and high are $166.72 and $193.92, respectively. Furthermore, the trading volume has decreased by 10% in the last 24 hours.
Popular analyst Michael van de Poppe noted the massive run on Solana. He said SOL price saw a 35% correction in higher timeframe in BTC and USDT pairs. Then the price restest before further continuation. He reminded investors that a 20-60% correction is the best entry point for altcoins during the bull market.
Meanwhile, crypto analyst and DeFi expert Miles Deutscher revealed tokens including SOL, SEI, NEAR, FTM, SUI, and others accumulated by him during dips.
Deribit data indicates traders are making fresh calls for $210 and $220 strike price before options expiring March 22. Moreover, traders have 1,280 call options for a strike price of $210, with a notional value of $4 million, indicating traders are targeting $210 before March 29.
Moreover, Solana futures open interest has increased nearly 15% in the past 24 hours, 5% in the past 4 hours, and almost 2% in an hour. This indicates massive buying pressure on Solana on derivatives exchanges.
Also Read: Top Analyst Predicts Bitcoin Price Correction to $63K, Best Time to Sell Meme Coins
The post Solana (SOL) Price To Hit $210 Or Correction To $180 Ahead? appeared first on CoinGape.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Solana Price Approach $200 Amid Historic Spike in New SPL Token Creation

Solana witnesses a historic surge in SPL token creation, setting new records. Solana (SOL) Price Continues to Rally.

STORY HIGHLIGHTS

• Solana experiences a historic surge in SPL token creation, averaging over 7,800 new tokens daily.
• Market performance remains robust despite slight pullback, with SOL reaching a peak of $192.11 in 2024.
• Analysis suggests potential for SOL's price to reach $200, fueled by on-chain data connections with native memecoins.

The number of new SPL tokens on the Solana network has surged to a historic high. Over the past 7 days, an average of more than 7,800 SPL tokens were created daily, marking a significant uptick in token creation activity. On March 11 alone, the network saw a record-breaking creation of 9,690 new SPL tokens, setting a new single-day high in history.
SPL, standing for Solana Program Library, serves as the standard for creating and managing tokens on Solana’s blockchain, much like ERC-20 on Ethereum. These tokens play a crucial role in enabling seamless integration with various Solana-based applications and platforms, fostering the growth and development of the ecosystem.

Solana’s Market Performance Amidst New Token Creation

Solana’s market performance has been notable amidst the surge in new token creation. The price of SOL surged to a peak of $192.11 on March 16, demonstrating strong bullish momentum. Key on-chain data trends suggest that Dogwifhat’s 400% rally has significantly impacted SOL’s market demand, driving further interest and investment. Despite a slight 5% pullback from the peak, SOL’s price has remained stable around the $175 support level, indicating resilience in the face of market fluctuations.
Currently, SOL’s price data reveals a 24-hour trading volume of $7,721,886,027, with a surge percentage of 5.28% and a trading range between $192.536549775 and $180.845902231. Additionally, SOL’s on-chain data connection with native memecoins Dogwifhat (WIF) and BONK suggests the potential for further price appreciation, possibly pushing SOL’s price toward the $200 mark in the coming weeks.

Also Read: Bitcoin SOPR Data Shows Major BTC Price Consolidation for March

Solana’s SPL Token Creation Surges, Fuels Ecosystem Growth

The surge in SPL token creation carries significant implications for the Solana ecosystem. It indicates growing interest and activity within the network, potentially fueling further innovation and development. When considering Solana’s recent market performance alongside the creation of new tokens, it becomes evident that there is a strong correlation between the two.

Speculation on the future trajectory of Solana’s price is rife, with analysts closely monitoring current market trends and on-chain data analysis. Also it is imperative to note that Solana’s daily decentralized exchange (DEX) volume has skyrocketed, surpassing $3.5 billion, coinciding with a surge in SPL token creation. This milestone underscores growing interest and activity within the ecosystem, sparking speculation about its future trajectory and significance in the broader cryptocurrency landscape.
Also Read: Sam Bankman-Fried’s Comeback As Republican And Other Plans: Court Filing