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#solonapumping the digital asset needs to first surge past the $270 mark. Should the current price growth rate continue, Solana would surpass its all-time high record of $259.99 set on November 6, 2021, but also elevate SOL’s market capitalization above Tether’s $127 billion. This would make Solana the third-largest cryptocurrency by market value, trailing only Bitcoin and Ethereum. This milestone solidifies Solana’s position as a major player in the crypto space. Its high-speed, low-fee blockchain continues to attract developers and projects, boosting demand for SOL tokens. As earlier reported, SOL recently recorded a surge in its total value locked. As of November 10, Solana’s TVL had climbed to $7.6 billion, its highest since December 2021. This surge in TVL highlights rising user deposits and is largely driven by the adoption of DApps such as Jito, Raydium, Drift, and Binance’s liquid staking. These DApps alone contributed a substantial 36% increase in network deposits, reinforcing the demand for Solana’s services. While Solana’s recent performance is undeniably impressive, it’s crucial to maintain a realistic perspective on the challenges ahead. Reaching a $270 price point and surpassing Tether’s market cap would necessitate sustained buying pressure and favorable market conditions. Additionally, the competitive landscape, macroeconomic factors, and regulatory developments could significantly impact its trajectory. Despite these potential hurdles, Solana’s ascent towards Tether’s position underscores its growing influence in the blockchain industry. Its rapid growth reflects strong investor confidence and its competitive advantage in the dynamic crypto landscape.
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#BTC☀ While Bitcoin is paving the way for $100,000 with the rally it has experienced in recent days, analysts generally predict that $100,000 will come soon. However, not every analyst thinks the same and states that they are not optimistic about the Bitcoin price as there are still concerns about the short term. At this point, analysts claimed that Bitcoin was in a high volatility phase and was facing a potential retest of the previous $69,000 peak. Speaking to Coindesk, SOFA senior manager Augustine Fan said that Bitcoin’s rally has entered a more volatile phase. Noting that Bitcoin’s growing dominance is similar to the mega-cap trend in the S&P 500, Fan stated that this situation in BTC could create challenges for the broader crypto market. Fan also noted the risk of the exuberant market sentiment creating a potential top for Bitcoin and cryptocurrencies, saying that this pattern in the S&P 500 shows a rapid price increase followed by an equally rapid decline, and warned investors of a sharp and sudden decline. Market analyst Omkar Godbole similarly warned investors about a possible sharp decline, arguing that the Bitcoin price could peak at current levels and a breakout could occur. According to the analyst, if there is a breakout in price, Bitcoin could retest its old ATH around $69,000, with the downward wick potentially dropping to $60,000. WeFi co-founder Maksym Sakharov also shared a similar view, saying, “The upward trend in Bitcoin has slowed down since it crossed $90,000. The fact that the US Federal Reserve is no longer in a hurry to cut interest rates has forced investors to reconsider their bets on Bitcoin. If the Fed continues to take a somewhat aggressive stance on interest rate cuts, Bitcoin’s appeal may decrease, which will negatively affect the price.” *This is not investment advice.
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$BTC btc need liquidations from short position first in order to balance there liquidations between long and short position.beacuse long liquidations are more than short positions from last week.so we can see one more upside move.
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$BTC bears was not crying now look at bulls and little bulls.....lot of fun.🤣
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