Solana (SOL): Is a New ATH Likely Following the Bitcoin Halving?
Source – Forbes
For the digital asset market, April is set to be one of the most important months. Indeed, it will see Bitcoin’s circulating supply split in half, heavily impacting its price and the market that it leads. With Solana emerging over the last several months, could SOL be headed for a new ATH following the Bitcoin Halving Event?
The latest countdowns have the development taking place on April 19th. Subsequently, Solana could be preparing to build on its 21% increase over the last 30 days to catapult it to new heights. However, its status could be facing some opposition considering its recent network struggles. So, let’s explore its potential price performance, and what could be in store for the end of April.
Also Read: Solana SOL Trader Turns $5.3K Investment into $1.03 Million Profit
Solana (SOL) Remains Dominant in 2024
Source – Coin Culture
Throughout the last month, the Solana network has increased in popularity quite immensely. That has not slowed down either, with CoinGecko noting that Solana-based DEX exchanges led the industry in trading volume over the last 24 hours. Moreover, that has denoted the fourth consecutive month that the network has outperformed the dominant blockchain, Ethereum.
Also Read: Solana (SOL) DEX Volume Up 332% Despite Network Struggles
Yet, the biggest question is if that performance could continue throughout this crucial month. Specifically, Solana (SOL) could be headed for an all-time high amid the Bitcoin halving event. However, the native token is facing a potential surge amid what has been concerning network congestion, severely impacting users.
According to a report from The Block, Solana developers have collaborated to put an end to the network issues that have affected users. Last week, it was reported that 75% of all transactions on the blockchain had failed. That situation could affect the price, but it may not stand in the way of a landmark ascension.
Is Bitcoin Halving Set to Bring New ATH?
Source: bitrates.com
Also Read: Cryptocurrency: Top 3 Crypto Coins Slated To Deliver Top Returns Post Bitcoin Halving
At the start of the year, Solana was trading at $102, and it is currently trading at $180, according to CoinMarketCap. Subsequently, that indicates an increase of more than 75% since the year started.
However, in March, SOL reached a high of $202, which is an even greater increase. Still, to reach an all-time high, it would have to increase another 31% to pass the $260 level. Considering its increase throughout March is more than 24%, that figure does not seem unattainable.
Solana has undoubtedly been an asset, facing a meteoric rise throughout this year. With the halving event approaching, it should only continue to grow in prevalence. Although nothing is certain, the asset does have a good chance of ending April boasting a new milestone price amid what is bound to be positive sentiment facing the market as a whole.
Solana’s Retail Surge: Will $250 Be the Next Milestone for SOL?
Source: Bitcoinist
Solana has lately been busy breaching new milestones and price markers. SOL is currently the most trending token in the market, inviting a flurry of trader and investor activity. This development has recently been acknowledged by analytics platform Messari, which dubbed Solana the top choice for retail users in its latest Q1 2024 report.
Rife with new promising projects, Solana is breaching new thresholds by establishing market dominance in all its related verticals. The network’s ongoing expansion is inviting a variety of user influxes, which could eventually catapult its price to new highs.
Also Read: Solana Price: How Profitable Is SOL Currently?
Solana’s Key Achievements in Q1, 2024
Source: analyticsinsight.net
According to Messari, Solana has become a “primary home for retail users and meme projects.”
“Solana’s average daily spot DEX volume increased by 319% QoQ to $1.5 billion. Solana has become the primary home for retail users and meme coin traders.”
The network has noted a staggering spike in its project development metrics. In Q1, projects built on Solana raised nearly $89.2 million. Furthermore, the network’s TVL rose by 232% QoQ, helping Solana beat its contemporaries in the domain.
“Solana DeFi TVL increased by 232% QoQ to $4.9 billion, ranking it fourth among networks. Lending and yield protocol Kamino jumped from Solana’s fourth largest to the top DeFi protocol by TVL. Its lending protocol ended the quarter with almost $1.3 billion in TVL, an 811% QoQ increase.”
However, the report also acknowledged Solana’s network woes, which, per the network, are currently under work to help deliver a smooth network experience.
“The increased network activity led to congestion issues, which are being addressed in upcoming networking, scheduler, and fee market upgrades. Although unrelated to the high activity, the Solana network suffered its first outage in almost a year.”
Also Read: Solana (SOL) Price Prediction After Bitcoin Halving
Solana April Forecast: Is $250 In Sight For SOL?
With a stunning deliverable report circulating in the market, Solana users are hoping for SOL to hit a new price milestone soon. The positive report outlines Solana’s recent extensive efforts that are fueling user sentiment and approach. According to CoinCodex, the pace at which Solana is currently expanding could surge by 200% by the end of April or the first week of May 2024.
“According to our current Solana price prediction, the price of Solana is predicted to rise by 227.34% and reach $579.19 by May 8, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 76 (extreme greed). Solana recorded 18/30 (60%) green days with 8.66% price volatility over the last 30 days.”
The platform further shared that Solana may surge by 48% by April 11, breaching the coveted $250 price milestone.
“The Solana price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Solana projections, SOL will be changing hands at $262.57 on April 15, 2024, gaining 48.40% in the process.”
Ripple: Could Dogecoin (DOGE) Pass XRP in 2024?
Source: Watcher Guru
The digital asset market has seen a plethora of tokens regain some momentum heading into this week. Moreover, it has presented a rather interesting race emerging between two prominent cryptocurrencies. Specifically, as Ripple has remained unmoving relative to its peers, could Dogecoin pass XRP at some point in 2024?
Currently, there is just $5 billion between both assets, with Ripple and DOGE holding the top 6th and 8th spots, respectively. Yet, the performance of the tokens has created an interesting narrative that could see the original meme coin breakthrough amid what has been an uncertain few weeks for XRP.
Also Read: XRP Price: Analyst Bullish For $1 Breakout Despite Ripple’s Sluggish Ascent
XRP Vs. DOGE: The Battle for Number 6
Throughout 2024, the cryptocurrency market has been surging. Specifically, it has built off of Bitcoin’s rather impressive performance this year. In March, BTC reached an all-time high of $73,000. Moreover, its value surge has had a similar effect on other assets, infusing the market with optimism.
Yet, it has also faced a host of price corrections that have affected several tokens. One of those has been Ripple, whose lack of momentum has led many to question if Dogecoin (DOGE) could surpass it in market cap. Subsequently, the original meme coin would catapult into the top 6.
Despite its rather stagnant position over the last several weeks, Ripple (XRP) has increased more than 3% over the last 24 hours to trade above $0.618. Additionally, its trading volume has skyrocketed by more than 108% in the same time frame. However, that positive performance has only equated to a less than 1% increase over the last month for the asset, according to CoinMarketCap.
Image Source: Unsplash
Also Read: Dogecoin Price Prediction for This April – Can DOGE Hit $0.3?
Conversely, Dogecoin is facing monthly gains of more than 23%, according to the market cap platform. Furthermore, its performance over the last day has it in the green, but it is increasing by less than 1%. Still, the big conversation surrounds the market cap figures.
Over the last 24 hours, both assets have seen their market caps increase. For Ripple, the figure is up more than 3%. Alternatively, Dogecoin’s market cap has only increased by less than 1%, but it is still gaining nonetheless.
The greatest question regards the potential for Dogecoin to pass Ripple XRP in market cap. For that race, the upcoming Bitcoin Halving event should play a crucial role. Indeed, Whichever asset increases more from that development could see its stock rise exponentially. Still, the potential for Dogecoin to jump XRP remains rather high throughout the next several weeks.
XRP’s Long Due ATH Can Finally Cash In: Here’s When It Can Happen!
The ongoing crypto bull run phase is yet to influence Ripple with its full might. The cryptocurrency has adopted a lethargic pace, trading at a modest $0.59 price level. However, with the US SEC announcing a closed-door meeting on April 11, speculators are hoping for a possible ripple-related development to finally chart its course in a positive light. If this happens, XRPs could take off to a new price level, cashing in a much anticipated ATH.
The cryptocurrency community on X is already brimming with new hope, anticipating XRP’s new price threshold soon. With rumors of a possible settlement spreading like wildfire, XRP may finally break into a bullish streak, giving the community a much-needed profit spree.
Also Read: XRP Price: Analyst Bullish For $1 Breakout Despite Ripple’s Sluggish Ascent
SEC vs. Ripple: What’s Happening?
Source – Crypto News Flash
In a new announcement made by the SEC, the agency has decided to conduct a closed-door meeting scheduled for April 11. The meeting has sparked a rumor spree on X, fueling hopes that the meeting will finally address the Ripple case and ways to put a rest to the two-year-long, intense legal battle.
Per the circular uploaded on X, the meeting is scheduled to take place on April 11, 2024. The new development has fueled an array of speculations, mounting hopes that a possible SEC-XRP settlement may finally arrive after the scheduled meeting.
Per a notable crypto analyst with the alias “Crypto Barbie,” this development and speculation could fuel XRP’s price to climb a new high and ultimately project its long-due bullish breakout.
WOW! 💥
Another closed door meeting from the SEC on April 11, 2024 as speculations rise of upcoming settlement with Ripple!
Since the SEC has lost the case against Coinbase, I am more confident that victory for #Ripple is only a matter of time! ⚖️https://t.co/qo2oWi94OJ pic.twitter.com/nDoW1tl5Nl
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) April 7, 2024
“The Securities and Exchange Commission (SEC) has announced a closed-door session on April 11 amid mounting speculation of an imminent settlement with @Ripple ⚖️This could lead to a substantial influx of funds into #XRP once it receives the regulatory nod from the SEC! This suggests that decentralized finance (DeFi) tokens built on the XRP ledger (XRPL) are poised for significant growth.”
🚨BREAKING: Securities and Exchange Commission Announces closed door meeting April, 11.
🚨RUMORS: Settlement is on the way! #XRP pic.twitter.com/gCbXLexdhD
— JackTheRippler ©️ (@RippleXrpie) April 7, 2024
However, one segment of the crypto community is betting big on XRP, hoping for its price to drive ahead without any support delivered by external or internal elements.
Don't really care about rumours , 1.2$ soon 🤝https://t.co/0VkhaCSse9
— Doctor Magic (@Doctor_Magic_) April 7, 2024
XRP April Forecast: Is $1 Breakout On Cards For Ripple?
April seems incredibly bright for Ripple, as the firm has recently announced its USD-pegged stablecoin development. This buildup ought to stabilize the price of XRP, giving it much-needed support and a base for expansion.
Per CoinCodex, XRP may gain 11% by May 7, pushing its price to trade at the $0.67 price mark.
“According to our current Ripple price prediction, the price of XRP is predicted to rise by 12.44% and reach $0.667781 by May 7, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 78 (extreme greed). XRP recorded 15/30 (50%) green days with 4.37% price volatility over the last 30 days.”
The platform also predicts levels at which XRP may find crucial support and resistance, which it needs to cross to break into a bullish price trajectory.
“Based on today’s classical pivot point (P1) with a value of $0.592766, XRP has support levels of $0.588083, $0.582163, and the strongest at $0.577479. Similarly, XRP resistance levels are at $0.598686, $0.603370, and $0.609290.”
The platform projects Ripple to gain 15% by April 14, exchanging hands at $0.68.
“The XRP price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these XRP projections, XRP will be changing hands at $0.684313 on April 14, 2024, gaining 15.23% in the process.”
Also Read: Cryptocurrency: Top 3 Crypto Coins Slated To Deliver Top Returns Post Bitcoin Halving
The crypto analysts on X are presenting their own XRP forecasts. According to Egrag Crypto, the prospects of XRP hitting $1.2 soon are quite bright considering its steady pace of ascent since May 2022.
#XRP / #BTC Returning to Mean (21 EMA):
The 21 Weekly EMA serves as a pivotal mean value for the price between #XRP / #BTC, acting as a point of convergence even amidst market volatility. Whether during Pumps & Dumps or regular market movements, we often see price action… pic.twitter.com/9zI8eBQH3S
— EGRAG CRYPTO (@egragcrypto) April 7, 2024
Can Solana (SOL) and Binance Coin (BNB) Hit $1,000 This Bull Run? Experts Are Saying This Revenue Sharing Altcoin Could Outperform Both
Solana (SOL) has been performing well during the past trading sessions, and the total year-to-date (YTD) climb for the crypto was by 790%, positioning it as one of the largest gainers in the industry. Alongside it, Binance Coin (BNB) also showcased positive on-chart metrics as it increased 92% in the same time-frame. However, there is currently much speculation if these two altcoins can hit the $1,000 price range this bull run. Experts are saying that Pullix (PLX) can outperform them, as it introduces a revenue-sharing model. To see if this is the case, we will go over all three individually.
Solana (SOL) Climbs 790% – Can It Reach $1,000?
Solana (SOL) is showcasing positive on-chart metrics, as its year-to-date (YTD) climb was by 790%. Alongside these price gains, in the past month, the Solana price also witnessed a 25% price increase.
During the span of the past seven days, the Solana crypto also witnessed an upswing from $170 to $196.97, just barely missing the $200 price range. However, sentiment is bullish on its future, and this crypto can reach new heights if it breaks past $200. According to the Solana price prediction, it can end 2024 at $261.88.
Binance Coin (BNB) Moves Above $600 – Can It Reach a New All-Time High?
Binance Coin (BNB) also witnessed a major 92% price increase year-to-date (YTD). Additionally, within the past month, the Binance Coin price spiked 23%, and has moved above the $600 range.
During the previous week, the Binance Coin crypto spiked from its low point of $546.43 to a maximum value at $600.53. It’s now only 13% under its all-time high of $686.31 which it reached on May 10, 2021, and this has resulted in a positive market sentiment. According to the Binance Coin price prediction, it can end 2024 at $870.79.
Pullix (PLX) to Spike 100x As It Introduces Revenue Sharing System
Pullix (PLX) is a hybrid exchange platform that has begun to get accumulated by traders globally as it features massive token utility and passive income opportunities through its innovative revenue share model. It’s a combination of the best elements found in CEXs and DEXs, and can create a unified experience in which anyone can access any asset, including cryptocurrencies.
From CFDs, to OTC derivatives, and perpetual futures, anyone can begin trading with zero commissions, and tight spreads while also leveraging all of the benefits of the platform, such as quick speeds and zero KYC requirements. Moreover, anyone can stake PLX to the automated market makers (AMMs) on the Pullix platform, and can get passive income with high APY, as they will get a share of the daily profits generated.
The token got listed on top of BitMart, XT.com, MEXC, Uniswap, and can be tracked on data aggregators like CoinMarketCap and CoinGecko. For example, its weekly price increased from $0.08256 to $0.1697, indicating a 36% jump. At this rate, analysts are projecting a 100x increase in its value making it one of the best altcoins to buy during 2024.
Summary
It’s clear that Solana had a massive year, but its still too far away from the $1,000 price range. In addition, while Binance Coin is close towards reaching a new all-time high, it’s also far away from $1,000. However, another crypto can reach 100x in gains and provide massive ROI, and that’s Pullix, as it features a vast ecosystem and massive token utility. These aspects position PLX as the best altcoins to invest in.
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