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Invest. com – No voice is louder than the sound of this coin, which was a few weeks ago and is still small change, but it has managed to pull the rug out of the adults, and has even exceeded by other well established and strong currencies.
Only 10 cryptocurrencies in the crypto pool have a market value of over $ 20 billion, ranging from number one bitcoin to number 10 coin that has become the polkat point. In these trading moments today, Monday, all major currencies are pulling back, as it looks like the train of this promising currency hasn’t stopped yet, as it moves from one high to another. unprecedented history.
Historic summit
The Solana coin, which is the top institutional pick at this time, hit an all-time high after breaking through 100 levels, rising 9% to $ 100.3.
While the market value of Seoul’s currency has jumped to around $ 30 billion, it comes in eighth place among cryptocurrencies, ahead of Polka Dot’s 24.7 billion and $ 27.2 billion. In the last seven trading days, only the Solana has gained around 38%, while the dollar pegged currencies, Tether and USD, have remained stable.
While in terms of August trading, all major currencies rose, but Solana also outperformed everyone with increases of 200%, and Cardano became its closest competitor by 115%. Since the start of the year, the performance of the top ten has been positive, but Solana has also passed everyone else in this marathon to even exceed the highs of the currency meme, which has climbed 4833%, while Solana has jumped from 5420%.
Catalysts
On August 24, digital asset management company Osprey registered its very first Solana fund with the United States Securities and Exchange Commission (SEC). On August 25, Bayath Network, a real-time data feed company, announced its live launch on the Solana Proof of Stake blockchain.
“Institutional demand for Solana has increased in recent weeks,” digital financial services firm Amber Group said in a Telegram conversation with CoinDesk.
From a technical analysis perspective, the path of least resistance to SOL is on the upper side, according to Bill Noble, chief technical analyst at Token Research Matrix. “The next upside targets are $ 89, which has already become support, and $ 145,” Noble (OTC 🙂 told CoinDesk.
“Of course, that depends on whether the market remains positive overall” ($ 145 is the 161.8% Fibonacci extension level). it probably will. “Solana is a great platform for DeFi and NFT.”
walk now
Bitcoin declines during these times by over 2%, to levels of $ 47.5 thousand, while it has fallen by around 5.5% in one week. Ethereum fell around 1.5% to $ 3.16k, while it has fallen around 5% in the past seven trading days.
Cardano, the third largest digital currency, fell 4.5%, to levels of $ 2.77, while declining 2.5% in one week.
The article does not express a recommendation or an appointment, but rather a simple monitoring of market fluctuations, as digital currency trading involves high risks, including the risk of losing all or part of the investment amount, knowing that it is not totally subject to authorities and markets.
Fusion media or anyone involved with Fusion Media will accept no responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.
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