💵💵A Crucial Moment for Altcoin: Will Big Announcements Cause Price Volatility? 💵💵

Last week, Solana’s$SOL

investment products generated a net cash inflow of approximately $3.8 million. This data shows that investors’ interest in Solana is increasing. The next two days are critical for SOL, as investors will be monitoring possible bullish announcements in Singapore. Over the past six months, the altcoin has experienced a horizontal consolidation process between $122 and $192. This situation has provided an opportunity for long-term investors to buy more coins.

According to the latest data, SOL’s total assets under management (AUM) have reached approximately $1.108 billion. Famous trader Peter Brandt states that if the altcoin cannot maintain its support level, it could fall to $80. However, the Fed's 50 basis point rate cut has positively changed the general outlook of the crypto market; therefore, bulls are expected to take control of the market.

In addition, October, or Uptober, is less than two weeks away. This could start the fourth quarter bull run and extend this rise into next year.

What is the Importance of Solana for Investors?

Solana has always been an asset that attracts investors' attention, along with Bitcoin and Ethereum. In addition, it has a dynamic web3 ecosystem with a total locked value (TVL) of over $4.8 billion and a stablecoin market value of approximately $3.8 billion. The number of monthly active addresses on the Solana network is remarkable, exceeding 75 million, an all-time high.

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