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solana Archives | Rateweb
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solana

Solana

Solana Dips Despite R114.7 m Boost Amid Bitcoin Market Tumble

  •  Solana (SOL) experienced a significant price drop on Tuesday, despite receiving $6.1 million in institutional investments last week, amidst a broader decline in Bitcoin prices and a reduction in on-chain activity and inflows.
  • The overall digital asset investment sphere showed signs of recovery, with institutional capital inflows hitting $862 million last week, led by Bitcoin’s $865 million inflow, while altcoins collectively secured $18.3 million, with Solana at the forefront.
  •  Despite the interest in Solana-based meme coins and user engagement with specific assets, Solana’s price fell nearly 6% following a market-wide correction influenced by a sharp decrease in Bitcoin’s price and substantial liquidations across derivatives exchanges.

Solana Dips Despite R114.7 m Boost Amid Bitcoin Market Tumble Read More »

Solana

Circle’s New Protocol on Solana Could Spark Major Price Rally

  • The Circle Cross-Chain Transfer Protocol (CCTP) is launching on Solana, potentially boosting SOL’s price by enhancing liquidity through seamless USDC transfers across blockchains.
  • Solana’s trading volume and total value locked (TVL) have significantly increased, with a notable surge following recent crypto market rallies and meme coin popularity.
  • The upcoming CCTP integration and positive on-chain metrics have sparked optimistic market sentiment, suggesting a potential price rally for SOL if it surpasses recent high points.

 

 

 

 

Circle’s New Protocol on Solana Could Spark Major Price Rally Read More »

Solana

Solana’s New Memecoin Craze: Big Wins, Bigger Risks Loom

  • The Solana blockchain is experiencing a surge in memecoin popularity, reminiscent of the 2017 ICO bubble on Ethereum, with these meme-inspired digital currencies achieving significant market values quickly but also presenting substantial risks.
  • Memecoins, largely driven by online community speculation and without practical applications, have seen several projects rapidly increase in valuation, mirroring past speculative bubbles and raising concerns about market sustainability and the potential for financial losses due to influencer manipulation or project failures.
  • Despite the risks and previous instances of failure, the memecoin market on Solana attracts investors looking for quick wealth, highlighting the volatile and speculative nature of these investments and serving as a cautionary tale for potential participants.

 

 

 

Solana’s New Memecoin Craze: Big Wins, Bigger Risks Loom Read More »

Solana

Solana Skyrockets to $200 Amid Bankman-Fried Sentencing Drama

  • Solana (SOL) has witnessed an impressive rise in value, reaching $200 (R3,754), amid anticipation of Sam Bankman-Fried’s (SBF) sentencing, marking it as a significant player in the cryptocurrency market, particularly appealing to investors in South Africa.
  • Since hitting a low of $8 (R150.16) in December 2022, Solana has experienced a dramatic surge of 2,468% in value, bolstered by growing interest in its ecosystem, including meme coins and overall user engagement, with its popularity hitting new all-time highs according to Google trends data.
  • The upcoming sentencing of SBF, once a major stakeholder in Solana before the FTX collapse, introduces an element of uncertainty for Solana’s future. Despite previous impacts from the FTX saga, Solana’s resilience and potential for further growth remain focal points for the South African crypto community and beyond.

 

 

 

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Solana

SLERF Meme Coin Soars, Burning R187.7M Sparks Investor Frenzy

  • A Solana-based meme coin named SLERF has captured widespread attention after the project’s developer accidentally burned nearly 50% of the token’s supply, leading to a significant price surge of over 3,700%. This event has highlighted the coin’s scarcity, attracting major investors within the Solana ecosystem.
  • The developer’s inability to recreate the lost tokens, due to the burning of $10 million (R187.7 million) worth of tokens during the presale, has resulted in a drastically reduced supply. This scarcity, coupled with increased demand, has propelled SLERF to a market capitalization of around $583.54 million (approximately R10.95 billion).
  • South African sentiments towards cryptocurrencies remain positive, with a particular interest in XRP as a tool for financial inclusion and improving cross-border payments. Meanwhile, the SLERF incident illustrates the unpredictable nature of meme coins and the broader crypto market, offering both substantial risks and opportunities for investors.

SLERF Meme Coin Soars, Burning R187.7M Sparks Investor Frenzy Read More »

Solana

Solana and Meme Coins Shine Amidst Widespread Crypto Market Downturn

  • Despite a significant market correction triggered by a drop in Bitcoin’s price, Solana (SOL) and Solana-based meme coins such as Dogwifhat (WIF), Sillycat (SILLYCAT), and Popcat (POPCAT) experienced price increases.
  • Solana and certain AI tokens like Conflux (CFX), Worldcoin (WLD), Jupiter (JUP), and Fetch.ai (FET) saw gains between 2% and 11%, standing out as outliers in a market-wide downturn.
  • Market analysts from Santiment suggest the current market uncertainty could potentially lead to a rebound, as discussions around notable assets focus on strategies like “buying the dip” or “panic selling.”

Solana and Meme Coins Shine Amidst Widespread Crypto Market Downturn Read More »

crypto

Traders Enticed by Novel MemeCoin Craze Featuring ‘Poorly Drawn’ Celebrities

  • A new trend in the South African crypto market showcases a surge in popularity for Solana-based memecoins, featuring ‘poorly drawn’ depictions of celebrities and political figures, with notable examples including “Jeo Boden” and “Danold Tromp” achieving remarkable gains post-launch.
  • A crypto investor known as “Barkery” reported significant returns from investing in these tokens, with an initial investment reportedly turning into substantial profits, highlighting the volatile yet potentially lucrative nature of these meme-based digital assets.
  • The Financial Sector Conduct Authority (FSCA) of South Africa has always issued warnings to investors about the high risks associated with investing in these types of memecoins, urging caution and informed decision-making due to the potential for considerable financial losses in the highly volatile crypto market.

Traders Enticed by Novel MemeCoin Craze Featuring ‘Poorly Drawn’ Celebrities Read More »

Unibot

Unibot Launches UNISOL Token, Sparks Investor Interest

  • Unibot is issuing a new Solana ecosystem token, UNISOL, enhancing value for its original Ethereum-based UNIBOT token holders, despite initial market concerns.
  • The platform has shown significant growth, attracting over 20,000 users and generating over $130 million in volume since its January launch.
  • Unibot’s daily volumes are substantial, and the recent price increase of UNIBOT tokens by 21% indicates a positive market response and growing interest among investors.

Unibot Launches UNISOL Token, Sparks Investor Interest Read More »

Silly Dragon

Silly Dragon Coin Jumps 42% Ahead of Chinese New Year

  • Silly Dragon Meme Coin Rally: Silly Dragon (SILLY), a Solana-based meme coin, surged by 42% in the week leading up to the Chinese New Year, outperforming other meme coins in the crypto market.
  • Divergence in Solana Ecosystem: While SOL price declined by 2%, Solana ecosystem meme coins like SILLY and WIF experienced significant gains, indicating a shift in investor interest within the ecosystem.
  • Anticipation for Chinese New Year Affecting Crypto Market: The upcoming Chinese New Year is influencing market trends, with expectations of rallies in ‘China coins’ and other related cryptocurrencies, potentially leading to increased market volatility and price movements.

Silly Dragon Coin Jumps 42% Ahead of Chinese New Year Read More »