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#write2earn Unlocking #Solana 's Potential: Exploring Solana's Path to $600 and Beyond #sol #solanaseason #solanaecosystem
$SOL
Recent data indicates a growing interest in Solana, evidenced by increased on-chain activity signaling high demand for SOL tokens. Analyst Hansolar suggests that Solana could experience a substantial surge amidst the current cryptocurrency market boom, primarily led by Bitcoin, with a potential price target of $600.
Hansolar's optimism stems from Solana's ability to mimic Ethereum's price movements during previous bull markets. Notably, ETH saw a remarkable surge from $85 to $4,935 during the 2020-2021 bullish cycle, closely following Bitcoin's trajectory.
Historically, ETH's surge coincided with Bitcoin reaching new all-time highs, driving retail interest in Solana as a high-beta investment option. With SOL currently trading around 50% below its all-time highs, a similar pattern to ETH's position in previous cycles is observed.
Looking forward, if Bitcoin reaches the projected $150,000 valuation, Solana could aim for $600, a 450% increase from its current price. Solana's strong fundamentals, including robust network adoption and increasing total value locked (TVL), support this outlook.
The network's sustained quarter-over-quarter growth, reflected in increased average daily fee payers and decentralized exchange (DEX) volume, further underpins its potential. Additionally, recent developments like the Jupiter DEX's token airdrop have bolstered on-chain activity and demand for SOL tokens.
From a technical perspective, Solana is targeting $200 in the near term, supported by a bullish continuation pattern called a bull pennant on its daily chart. A breakout above the upper trendline could signal further upside, while a breakdown below the lower trendline could invalidate the bullish scenario, potentially leading to a decline towards $60.75.
$SOL
Recent data indicates a growing interest in Solana, evidenced by increased on-chain activity signaling high demand for SOL tokens. Analyst Hansolar suggests that Solana could experience a substantial surge amidst the current cryptocurrency market boom, primarily led by Bitcoin, with a potential price target of $600.
Hansolar's optimism stems from Solana's ability to mimic Ethereum's price movements during previous bull markets. Notably, ETH saw a remarkable surge from $85 to $4,935 during the 2020-2021 bullish cycle, closely following Bitcoin's trajectory.
Historically, ETH's surge coincided with Bitcoin reaching new all-time highs, driving retail interest in Solana as a high-beta investment option. With SOL currently trading around 50% below its all-time highs, a similar pattern to ETH's position in previous cycles is observed.
Looking forward, if Bitcoin reaches the projected $150,000 valuation, Solana could aim for $600, a 450% increase from its current price. Solana's strong fundamentals, including robust network adoption and increasing total value locked (TVL), support this outlook.
The network's sustained quarter-over-quarter growth, reflected in increased average daily fee payers and decentralized exchange (DEX) volume, further underpins its potential. Additionally, recent developments like the Jupiter DEX's token airdrop have bolstered on-chain activity and demand for SOL tokens.
From a technical perspective, Solana is targeting $200 in the near term, supported by a bullish continuation pattern called a bull pennant on its daily chart. A breakout above the upper trendline could signal further upside, while a breakdown below the lower trendline could invalidate the bullish scenario, potentially leading to a decline towards $60.75.
#Write2earn #Jupiter 's Ascendancy: Powering #Solana 's Trading Landscape #solanaecosystem #DEX $JUP $SOL
Jupiter is now responsible for half of Solana's computational workload, indicating its significant role within the network.
Siong, co-founder of Jupiter, Solana's primary DEX aggregator, shared plans for the protocol's mobile app launch.
At the Solana Crossroads 2024 conference, Siong announced a target release date for the mobile app, aiming for a rollout in "late May or early June." He mentioned that a "test flight" version of the app is already operational, with Jupiter currently seeking approval from Apple for its mobile app submission.
This development aligns with Jupiter's growing influence in Solana's trading activities.
Siong estimated that Jupiter contributes approximately half of Solana's computational load per block and receives over 250,000 user requests per second.
Data from Jupiter Station indicates nearly 1.85 million transactions hosted in the last 24 hours, translating to approximately $809 million in trade volume.
Additionally, the project introduced a perpetual contracts trading platform seven months ago, now holding a market share of roughly 70% to 75% for perps trading on Solana.
The Jupiter Perpetual Exchange currently boasts a total value locked (TVL) of $340.7 million and facilitated $424.5 million worth of volume in the past day, as reported by DeFi Llama.
Regarding the JUP token, Jupiter conducted an airdrop to 955,000 early adopters in January, with the token initially valued at a market cap of $900 million. However, the token faced a slump during its initial trading month, dropping 29% to a low of $0.47. This decline was further exacerbated by community backlash following Jupiter's decision to sell 18.5% of JUP's supply via its LFG Launchpad shortly after the airdrop.
Despite this, JUP showed signs of recovery in late February, reaching a peak of $1.75 in early April. Currently priced at $1.11, the token has experienced a 36.6% pullback.
Jupiter is now responsible for half of Solana's computational workload, indicating its significant role within the network.
Siong, co-founder of Jupiter, Solana's primary DEX aggregator, shared plans for the protocol's mobile app launch.
At the Solana Crossroads 2024 conference, Siong announced a target release date for the mobile app, aiming for a rollout in "late May or early June." He mentioned that a "test flight" version of the app is already operational, with Jupiter currently seeking approval from Apple for its mobile app submission.
This development aligns with Jupiter's growing influence in Solana's trading activities.
Siong estimated that Jupiter contributes approximately half of Solana's computational load per block and receives over 250,000 user requests per second.
Data from Jupiter Station indicates nearly 1.85 million transactions hosted in the last 24 hours, translating to approximately $809 million in trade volume.
Additionally, the project introduced a perpetual contracts trading platform seven months ago, now holding a market share of roughly 70% to 75% for perps trading on Solana.
The Jupiter Perpetual Exchange currently boasts a total value locked (TVL) of $340.7 million and facilitated $424.5 million worth of volume in the past day, as reported by DeFi Llama.
Regarding the JUP token, Jupiter conducted an airdrop to 955,000 early adopters in January, with the token initially valued at a market cap of $900 million. However, the token faced a slump during its initial trading month, dropping 29% to a low of $0.47. This decline was further exacerbated by community backlash following Jupiter's decision to sell 18.5% of JUP's supply via its LFG Launchpad shortly after the airdrop.
Despite this, JUP showed signs of recovery in late February, reaching a peak of $1.75 in early April. Currently priced at $1.11, the token has experienced a 36.6% pullback.
#Write2Eam #Parcl #Airdrop Announcement: Rewarding Early Adopters with $PARCL Tokens
#solanaecosystem #RWA
Parcl, a Solana-based platform facilitating real estate index trading, has announced plans for an airdrop to reward early adopters. The project is set to release the PARCL token in April, allocating between 7% and 8% of its token supply to the community. Holders of PRCL will gain governance rights and enhanced utility within the Parcl Protocol ecosystem, with the token also serving as a gateway to premium real estate data. This move follows speculation fueled by the project's recent points campaign, aimed at incentivizing user engagement. Parcl's innovative approach to token distribution includes rewarding active users and aligning incentives with platform usage. The announcement adds to a series of high-profile airdrops in the Solana ecosystem, underlining the platform's growing prominence. Parcl distinguishes itself by enabling users to speculate on real estate market indexes without directly tokenizing physical properties. Trevor Bacon, CEO of Parcl, emphasizes the platform's role in providing exposure to sought-after cities worldwide. Since the launch of its v3 iteration, Parcl has experienced significant growth, with its total value locked (TVL) surpassing $75M and open interest exceeding $50M in its markets.
#solanaecosystem #RWA
Parcl, a Solana-based platform facilitating real estate index trading, has announced plans for an airdrop to reward early adopters. The project is set to release the PARCL token in April, allocating between 7% and 8% of its token supply to the community. Holders of PRCL will gain governance rights and enhanced utility within the Parcl Protocol ecosystem, with the token also serving as a gateway to premium real estate data. This move follows speculation fueled by the project's recent points campaign, aimed at incentivizing user engagement. Parcl's innovative approach to token distribution includes rewarding active users and aligning incentives with platform usage. The announcement adds to a series of high-profile airdrops in the Solana ecosystem, underlining the platform's growing prominence. Parcl distinguishes itself by enabling users to speculate on real estate market indexes without directly tokenizing physical properties. Trevor Bacon, CEO of Parcl, emphasizes the platform's role in providing exposure to sought-after cities worldwide. Since the launch of its v3 iteration, Parcl has experienced significant growth, with its total value locked (TVL) surpassing $75M and open interest exceeding $50M in its markets.
