A crypto token price can be estimated by the value it adds to the overall ecosystem. This is where Solana came up with a unique concept in crypto space.
In 2017, Greg Fitzgerald and Anatoly Yakovenko founded Solana Labs. The Solana ecosystem is regarded as a low-cost, efficient, quick, safe, and censorship-resistant blockchain that offers the open infrastructure necessary for widespread adoption. One of the very first platforms to combine both Proof of Stake with Proof of History consensus, it uses both techniques simultaneously.
Additionally, there are no transaction costs. Numerous projects are being worked upon by the Solana Foundation, including NFT, DeFi, Web3, and so many more. Even its own online shop, Solana Pay, that is bound to shape payment infrastructure in the future, has been created.
In this article, we’ll discuss the price prediction of Solana along with its relationship with FTX Crash. At the end of the article, we’ve also provide info about the top crypto projects and recent updates related to them.
First of All – FTX, Solana and Their Relations
Sam Bankman-Fried and Gary Wang created FTX, a centralized cryptocurrency exchange, in 2019. The unstable cryptocurrency market was shaken by the demise of FTX recently where it lost billions of dollars in value and made the crypto market valuation fell below $1 trillion.
Sam Baker with Binance CEO
FTX’s sudden slide and collapse was probably the result of a very long list of problems which are lkely to affect cryptocurrencies for a very long time into the future and is likely to contribute to market declines beyond cryptocurrencies.
Ties Between Solana and FTX Becomes the Reason For SOL Crash
A wide variety of international investments, including Alameda Research, invested $300 million in Solana’s native token sale in 2021. Andreessen Horowitz was the primary financier in this round.
The loss of SBF and FTX’s holdings in Solana as well as its ecosystem worries investors. Even worse, Solana’s blockchain is now experiencing performance issues. It is therefore one of the main causes of Solana’s bearish inclination.
As a result of this, we are able to see the importance of developing a sophisticated piece of technology that can provide everyday people with the right information and advice to safeguard their investments. With Dash 2 Trade‘s revolutionary automated trading system that emphasizes capital protection, this gap can be easily filled. We’ll deep dive about this in the later section.
Solana Starts its Recovery with Immediate Effect
Because of the FTX event this month, the price of Solana experienced a sharp decline beneath the $30 mark. Well below the $25 and $20 support levels, there was a significant shift.
There was even a drop below $15 in the SOL price. Finally, it fell as low as $10.92 before finding support near $11. Likewise to Bitcoin and Ethereum, there was a slight upward correction recently. The price managed to go above $11.50 and $11.85.
However in the past 2 days, the price of Solana has again risen to cross $14, creating a support at around $13.95 mark. It is safe to say that if the upward trend continues, the crypto may see its rise to $15 mark way before the month of December. Also, as the festive season is near, even further rise may be seen on the occasion of Christmas.
Solana Price Prediction for the Next Few Years
The project’s first development started in 2017, and even though it was released in March 2020, it wasn’t until 2021 that it received attention and praise. From number 42 in February 2021 to position 7 in September of the same year, the currency rose significantly in the market cap rankings.
We will look at our price projection for Solana.
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Protect Your Assets with Dash 2 Trade
Back to discussing about Dash 2 Trade, Insidebitcoin wishes to mention that the sudden collapse of FTX raises a need for an sophisticated trading intelligence platform like Dash 2 Trade which can put the power of Artificial Intelligence in the hands of general public. This will help them to spot looming problems like FTX/FTT crash and help traders and investors to find safe opportunities for market beating returns.
Dash 2 Trade is a Bloomberg terminal for cryptocurrency investors and traders. It is a hub for data and analytics related to cryptocurrency. The goal of Dash 2 Trade is to improve cryptocurrency trading. Dash 2 Trade enables investors to create and test trading strategies, as well as keep up with the latest headlines and on-chain data, so they can stay ahead of the market.
It specializes at revealing the data that actually impacts performance and provides them with a thorough grasp of the most important factors when making wise trading decisions. They have identified some of the most useful data components that let customers fully comprehend the market and make important trading decisions.
Others Cryptos You Need to Buy to Get Ahead of The Next Price Increase
Having given a brief information about the Solana price prediction, we will now give updates about the other projects that Insidebitcoin follows:
1. RobotEra Has Successfully Raised The $225k Milestone
RobotEra is undoubtedly one of the most popular crypto presales right now. In its inaugural stage of presale, this brand-new metaverse cryptocurrency has raised $225,000. As things are at the moment, it is just the start of this wonderful crypto project’s prosperity.
2. Calvaria’s Raised Amount Gets Closer To $2 Million
Investors are presently permitted to register for presales in RIA. It has been one of the most profitable presales to date, having generated nearly $1.8 million.
For the RIA presale, there will be a total of 8 tiers. With each accomplishment of a goal, the asset’s worth is anticipated to increase. RIA started trading at $0.010 during the presale and is presently trading at $0.025 at the fourth stage. Early adopters have already realized over 100% returns.
3. Dash 2 Trade Reaches $7 Million
The Dash 2 Trade presale began little over a month ago, and $7 million has already been raised. The speed at which they reached the $7 million threshold is impressive, especially given that they did it under one of the most difficult market conditions for cryptocurrencies.
4. IMPT Reached the $13.1 Million Mark
With the presale growing in popularity every day, the initial public sale (presale) of IMPT coins has already proven successful in reaching the $13 million mark. Therefore, it is undeniably true that this currency, which is still offered at a large discount, is the ideal investment option right now for crypto traders as well as environment lovers.
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