SOL, the cryptocurrency that powers Solana’s high-performance smart-contract enabled blockchain, has stabilized in the $13.50 area on Thursday after falling back from the mid-$14.00s on Wednesday. Compared to its prior weekly high in the $14.40 area, SOL is currently down about 5.5% and some traders are asking if it is time to buy the dip once again.
Price Prediction – Where’s Next for SOL?
While SOL is now finding support at its 21-day moving average, which is currently near $13.50, it is risky to bet in favor of the crypto in the current market context. SOL still trades about 65% lower than its pre-FTX/Alameda collapse highs in the $38 area, with traders worried about the future of the blockchain project, including the now-defunct cryptocurrency exchange and its sister hedge fund. have close ties with.
Until the uncertainty surrounding Solana Foundation’s future (i.e. funding) becomes clear, SOL sentiment may struggle to see a sustainable lift. A break back below the 21DMA could lead to a move back towards the November lows below $11.
But if risk appetite returns to crypto markets in the coming weeks, perhaps due to a US inflation surprise, or perhaps the December Fed meeting, or the “Santa Rally”, and SOL may muster. A sustained push above its 21DMA, it will face tough resistance in the $19 area. This is a key long-term resistance-turned-support area for the first half of 2021. The next major area of resistance will be the 2022 pre-FTX collapse low in the $26.50 area.
Rebuilding Solana DeFi After FTX’s Serum DEX Collapse
Before FTX’s untimely demise in early November, Solana, a DEX created in 2020 by a consortium including FTX and Almeida, served as a central source of liquidity for the decentralized finance (DeFi) ecosystem. The private keys of the serum were kept in FTX. After FTX suffered its post-implosion hack (which caused it to lose $100 million), the Solana DeFi ecosystem experienced a massive capital flight cutting ties with Serum and Solana’s DeFi Trade Value Lock (TVL) .
But the developers are rebuilding. Stakeholders of the ecosystem have pushed forward with a fork of FTX, or free serum from the Sam Bankman-Fried relationship, called OpenBook. Solana co-founder Anatoly Yakovenko recently told the crypto press, “It has been great to see the community grow from Serum to OpenBook.” “The community has been quick and open to redeploying Serum, so it continues on a new, safer path, with decisions made by and for community members,” he added. that “OpenBook is a great demonstration of decentralization in action.”
According to DeFi Llama, OpenBook has accumulated approximately $2.7 million in TVL. This is a far cry from Serum’s pre-FTX relapse TVL of over 100 million, but it’s a solid start.
Solana was outperforming Ethereum on some metrics before the FTX collapse
Despite the crypto bear market, Solana was doing well in the third quarter of 2022, according to data compiled by crypto analytics firm Nansen. “Total daily transactions on Solana to top 200 million in Q3 2022,” the company announced in a tweet.
Solana “hosts one of the most diverse ecosystems of DApps, thanks to its fast finality and low fees,” Nansen said, despite being a non-EVM blockchain. If the Solana ecosystem can grow and continue to build despite the current difficult market conditions, and thus maintain its position as one of the strongest blockchains in the space, then SOL has serious upside potential in the coming years. There is every chance to make a comeback.
Dash 2 Trade (D2T)
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 highly discounted rates. The D2T token sale recently surpassed $9.055 million. The sale has now entered its fourth and final phase and is still going strong with $400K brought in in the last 24 hours. 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, which observers are calling an extreme discount.
Dash 2Trade was recently listed by Coincodex as the 3rd best presale token of 2022.
Find the next crypto 💎 before the end of 2022!
1️⃣ @IMPT_token
2️⃣ @Sportinfinityy
3️⃣ @dash2_tradeFind out more about these presales 👇https://t.co/DVbVswGOIc
— CoinCodex (@CoinCodex) December 8, 2022
IMPT
Amidst the rise in popularity in recent years of environmentally and socially friendly investments, investors looking for a green cryptocurrency should consider IMPT Token. IMPT.io has partnered with thousands of the world’s largest retailers to help offset their carbon footprint and allows users to trade carbon credits on the blockchain.
IMPT tokens are currently in their second phase of presale, IMPT has raised over $15.6 million. This amounts to $1 million in token sales in the last 24 hours. Investors only have three days to buy the token at the current discounted price of $0.023. IMPT token exchange listing will start in a few days.
IMPT was recently listed by CoinCodex as one of the best presale tokens of 2022.
Find the next crypto 💎 before the end of 2022!
1️⃣ @IMPT_token
2️⃣ @Sportinfinityy
3️⃣ @dash2_tradeFind out more about these presales 👇https://t.co/DVbVswGOIc
— CoinCodex (@CoinCodex) December 8, 2022
Calvaria (RIA)
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 $2.36 million, with crypto whales netting $97.5K in a buy on Thursday. The pre-sale is in its final stages, with only 24% of the tokens left.
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