Is Solana crypto ripe for a possible huge price rally? Some market analysts believe it does, seeing that the crypto is moving in a favorable pattern.
Investors and traders are now paying attention to Solana after an impressive comeback, allowing the digital currency to once again hit a two-month high.
Several analysts predicted that could gear up for an exponential price rally after the crypto successfully rebounded from a slump in August.
According to their computation, the cryptocurrency’s price could skyrocket by over 2,500%, saying that from its current price of slightly over $170, Solana is on track to reach the $4,500 level. It is a huge growth that excites crypto traders and enthusiasts alike.
SOL market cap currently at $78.14 billion. Chart:
The forecast was made after Solana clawed its way back to the $171 mark in the last 11 weeks, the highest it has attained since August 1. Traders argued that the digital currency’s impressive recovery indicated that its price could go up further, saying that it is gaining momentum, and a 25-fold price hike is possible.
Although some market observers agree that Solona’s price is moving on an upward trajectory, they are a bit pessimistic about the 2,500% surge, offering a much more conservative estimate for the hike.
According to CoinGecko, a price increase of $450 from the current $171 is more reasonable than massive growth being floated by other analysts.
Hey bud do you mean $450?
— CoinGecko (@coingecko)
A Whale Took Advantage Of The Peak
Lookonchain reported that a whale took advantage of when Solana hit a high of $164 and sold a huge chunk of crypto. According to the smart money tracker, the prominent whale traded $3.86 million worth of digital currency or the equivalent of 22,726 SOL — a move considered to be typical of a whale who usually buys when the market is down and sells when the price hits its peak.
A smart whale sold 22,726 ($3.86M) at a price peak 3 hours ago.
This smart money always buys at low prices and sells at highs.
He currently holds 20,000 ($3.33M), with a total profit of over $2.5M!
— Lookonchain (@lookonchain)
At press time, this whale still owns about 20,000 SOL or equivalent to $3.33 million. The whale’s total profit is estimated at over $2.5 million.
Another Bright Spot
Meanwhile, another crypto firm has adopted Solana in its platform, a positive development for the SOL coin.
Robinhood Crypto announced yesterday that it has enabled Solana in its platform, allowing users of the platform in the European Union to transfer the said digital currency.
Crypto transfers for are now available on Robinhood Crypto!
Withdraw & Deposit , and earn with a 1% deposit rewards bonus on the app (valid until 30 November) .
Terms apply. Get started:
— Robinhood Crypto EU (@RobinhoodCrypto)
The platform joined the list of many firms that support the use of Solana crypto.
To entice its users to transfer their SOL currency, Robinhood Crypto offered its users a 1% deposit bonus on the app.
Solana becomes an addition to Robinhood Crypto product offerings which now include buying and trading over 35 cryptocurrencies in the app. Also, its users can bankroll their Solana crypto within the platform and get a 5.23% annual yield.
Featured image from Pexels, chart from TradingView
They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
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Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!
So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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