My people! What's up, friends! Here’s your news with the best vibe to keep you updated on what's happening in the crypto world. It turns out that Solana (SOL), that thing that was rising like foam, is now stagnant, stuck at around $140 green bills. What's going on? Let me spill the full tea! 🎤
Imagine that Solana had kicked off the week strong, gaining ground, but suddenly, bam!, tensions in the Middle East got heated 🔥, with Israel and Iran in a tug of war that has everyone on edge. And since everything in this world is connected, boom!, that situation has caused the price of SOL to suffer and erase almost all its gains. That's life, my people!
The truth is that SOL has dropped 8% in a week and 13% in the last month, and since the end of May, it's been dancing between $140 and $160. It wanted to break above $160, but on June 12, when things got ugly between Israel and Iran, everything crashed.
But watch out! Not everything is drama. Despite these macroeconomic issues, experts say that the foundation of Solana remains solid as a rock. Important things are coming for this crypto this year, so don't write it off yet! Its long-term prediction remains promising. Moreover, its price chart shows that resistance and support levels are close to meeting, which could mean a strong upward movement at any moment. The indicators are on fire, pointing upward! 📈
Moreover, the volume of SOL is around $4.2 billion, and there have been a lot of big transfers in the last week. And if that weren't enough, Solana remains the third favorite crypto among institutions, right after Bitcoin and Ethereum, with $1.39 billion in SOL in their wallets! That's a sign that the money folks have faith.
If we set aside the Middle East situation, SOL is expected to return to $200 by the end of next month. And it doesn't stop there! Solana has a total value locked (TVL) of $8.3 billion, making it one of the strongest altcoins in the market.
And hold on, because game-changing updates are coming by the end of the year, like the Alpenglow consensus upgrade and the Firedancer validator client. These things are going to make Solana faster and more secure, attracting more people to use it. That's why the price of Solana is expected to reach $300 in the fourth quarter and even $400 by the end of the year! 🚀
And the cherry on top: Solaxy (SOLX), a new platform running on Solana, just raised $54 million in its presale! Crazy! This thing is going to be the first layer two network of Solana, which means cheaper and faster transactions, avoiding those failed transaction issues that Solana sometimes has. Plus, it will have its own decentralized exchange and its own token launch platform. This is shaping up to be a tremendous ecosystem!
The SOLX token is going to be key for transaction fees and earning passive money if you stake it. Right now it costs $0.001766, and with the success of its sale, it will surely shoot up like a rocket when it launches next week! So, my people, stay alert with Solana and its ecosystem because things are getting interesting! 🤑$SOL $SOLV
