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Will the Solana (SOL) rally continue? Solana, which hosted the memecoin supercycle, achieved the most striking statistics of 2024. The total locked asset (TVL) value of the Solana blockchain, which was around $ 1 billion at the beginning of the year, increased to $ 9.257 billion as of the time of writing. The popular blockchain started to generate an average daily income of $ 15 million. Solana, which hosts memecoins such as $BONK , WIF, PNUT, ACT, GOAT and MEW, is running to record highs with the increasing number of users. The $SOL price reached $ 262 in the morning hours, marking an all-time high (ATH). #Solana (SOL) analysis According to AMBCrypto's analysis, Solana, whose upward momentum is strengthening, may reach $ 300 by the end of the year. SOL continues to attract new investors. Open Interest (OI) reached an all-time high of $6.03 billion in the last 24 hours. This data was interpreted as demand from derivatives also supporting spot demand. Despite the positive outlook, the Relative Strength Index (RSI) created a bearish divergence. The data in question indicates that there may be an increase in selling pressure. AMBCrypto said that the increase in short selling is remarkable and that investors should be cautious against the changing market sentiment. The analysis noted the following; “This month, bullish market sentiment reached new highs, but SOL was already overbought. SOL's next major target will be $300, which could be achieved soon if the market maintains its current momentum.” The analysis stated that if cryptocurrencies, especially $BTC , remain strong, the SOL price will continue to rise. Nevertheless, the analysis stated that sharp price movements could be seen with the start of profit taking.
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SEC Chairman Gensler’s resignation could send these altcoins soaring! The Securities and Exchange Commission (SEC) had suppressed the crypto market until the first quarter of 2024. SEC Chairman Gary Gensler has argued for years that the crypto market is a Ponzi scheme and that many cryptocurrencies, including popular altcoins, should be considered securities. Algorand (ALGO) Algorand ($ALGO ), a layer-1 blockchain that allows developers to make secure and low-cost transactions, was one of the altcoins included in the SEC’s securities report. #ALGO made a name for itself in the 2021 bull run, but suffered a major decline after the SEC blacklisted it. Gensler’s resignation could remove the obstacles in front of ALGO. #Cosmos (ATOM) A multi-blockchain ecosystem that scales and interacts with each other in harmony, Cosmos ($ATOM ) was one of the altcoins blacklisted by the SEC. Cosmos, which brought projects like Celestia (#TIA ) to the crypto ecosystem, may return to its old days with Gensler’s resignation. NEAR Protocol (NEAR) NEAR Protocol ($NEAR ), which allows users to create their own applications and cryptocurrencies, was one of the altcoins on the SEC’s list. The Layer-1 blockchain has long faced “unregistered securities” charges from the SEC. Gensler’s resignation could pave the way for NEAR. NEAR has increased by over 10 percent in the last 24 hours. Filecoin (FIL) Data storage and file transfer platform #Filecoin (FIL) has quickly gained popularity with its work in the blockchain field. In fact, Filecoin was one of the altcoins that faced unregistered securities charges from the SEC. The popular altcoin has struggled with selling pressure since 2023. Cardano (ADA) Cardano (#ADA ), a publicly traded smart contracts and layer-1 platform, has been competing with major altcoins such as XRP and Ethereum. The SEC announced that Cardano was also listed as an unregistered securities. The announcement marked the beginning of ADA’s long-term bear market. ADA, which rose with the news that Gensler would resign, could host a major rally.
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KIP Protokolü http://Moemate.io'ya Yatırım Yapıyor, AI Ajan Arenasına Giriyor
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The latest trend is these altcoins: Bull run in full swing! The leader of cryptocurrencies, BTC, broke a new record by rising to $99,588 on November 22. BTC's upward trend provided a cyclical inflow of money into altcoins. While memecoins were the trend of the past week, this week all eyes turned to major altcoins. It was announced that SEC Chairman Gary Gensler will leave office on January 20. This development paved the way for major altcoins, especially XRP. Stellar (XLM) Stellar ($XLM ), a decentralized and peer-to-peer blockchain protocol seen as a rival to XRP, was the highest-rising major altcoin of the day. #XLM , a payment and store of value instrument, did not lag behind the rally made by XRP. The popular altcoin increased by nearly 55 percent in the last 24 hours. According to CoinGecko data, XLM recorded a trading volume of $7.17 billion in the last 24 hours. XLM's market value exceeded $13.095 billion. VeChain (VET) VeChain ($VET ), a project to provide data flow and improve business processes via blockchain, was one of the prominent altcoins of the day. The star of the 2021 bull managed to accompany the rally in major altcoins. The popular blockchain project has increased by 30 percent in the last 24 hours. Algorand (ALGO) Algorand ($ALGO ), a blockchain used to develop decentralized applications and decentralized finance applications, was one of the stars of the major altcoin rally. #ALGO increased by 29.7 percent in the last 24 hours. ALGO, which has a market value of $2.577 billion, recorded a trading volume of $911 million in the last 24 hours. Cardano (ADA) Cardano (#ADA ), a major blockchain like #Bitcoin , XRP, Ethereum and Polkadot, is making a sensational bull run. Smart contracts and public blockchain project ADA has increased by 24.4 percent in the last 24 hours. Polkadot (DOT) Polkadot (DOT), which was once considered a rival to Ethereum and quickly adopted, has been one of the prominent names of the past week. Smart contracts and layer-1 project #DOT has increased by 23.7 percent in the last 24 hours.
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#ElSalvador President Bukele announced on his Instagram account that his country made $305 million in profits thanks to #Bitcoin . $BTC $ETH $SOL
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