Fifth note of musical scaleSolana, the blockchain’s native coin, fell below $10 on Wednesday for the first time since February 2021, plunging 10% intra-day and extending its losses since the sudden collapse of seemingly corrupt Sam Bankman Fried. ftx/ Alameda Crypto Empire about 70% in early November. Price forecasts thus remain extremely pessimistic.
Why is there sol dumping?
The collapse comes amid a constant stream of negative stories surrounding the Solana crypto ecosystem as well as the ongoing FTX saga. Two of Solana’s top non-fungible token (NFT) projects, DeGods and y00ts, recently announced they are making the jump to building on the Ethereum and Polygon blockchains.
Meanwhile, blockchain watchers reported on Wednesday that the Alameda wallet was once again active just days after Sam Bankman-Fried was released from prison on bail. ERC-20 tokens are being dumped and funds are being moved to blue chip cryptocurrencies like ETH, BTC and USDT, with some funds moving through transaction destinations that are being obscured by instant exchangers.
Twitter users are surprisingly speculating that Sam Bankman-Fried is behind the token dumping and traders are speculating that SOL tokens may have been dumped as well. Sam Bankman Fried was a big promoter and supporter of the Solana blockchain and is believed by some to have artificially inflated the price of SOL.
Price Prediction – Can SOL Hit $3?
SOL/USD’s latest drop below recent lows in the $11 area and below the psychologically important $10 level has opened the door to another cascade of selling that has seen the coin test key long-term support as of August 2020 at around $5.20. Could High. If the coin breaks below this level, it could open the doors for further downside to the remaining $2.50 area.
Altcoins to consider
With the broader cryptocurrency markets underperforming in recent weeks, investors may be looking to diversify their holdings with pre-sale tokens from promising, up-and-coming cryptocurrency projects.
FightOut (FGHT) – Presale Launch
FightOut, a brand new move-to-earn (M2E) fitness application and gym chain that wants to bring the fitness lifestyle to Web3, has started its pre-sales and investors feel the project will complement the current Web3 M2E landscape. may change. While existing M2E applications such as STEPN only track steps and require expensive non-fungible tokens (NFTs) to participate, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity , and it doesn’t require any costly buy-in to participate.
FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to act fast to secure their tokens, with pre-sales totaling nearly 2.6 million in just a few days. dollars have been raised. FGHT is the token that will power the FightOut crypto ecosystem.
Dash 2 Trade (D2T) – Pre-sale enters final phase
Those looking to invest in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up and coming analytics and social trading platform is expected to take the crypto trading space by storm with its unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system, and strategy back-testing tools. Dash 2 Trade’s ecosystem will be powered by D2T tokens, which users will need to purchase and hold in order to access the platform’s features.
Dash 2 Trade is currently conducting a token pre-sale at deeply discounted rates and sales recently exceeded $11.2 million. The pre-sale dashboard is going to be released soon, currently the development team is running ahead of schedule. The tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges within a month.
Calvaria (RIA) – Final pre-sale phase now
Major blockchain-based games such as Axis Infinity have lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an emerging play-to-earn battle card crypto game, could be a good option. Calvaria seeks to promote crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.
Investors should consider Calvaria’s RIA Token Pre-Sale. Calvaria has now raised $2.6M, following a $97.5K purchase from a crypto whale earlier this month. Pre-sale is in final stage, only 20% tokens are left.
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