Here's the Scoop on Solana (SOL)
Weekly surge in Solana (SOL) price observed, trading volume records high of $4.65 billion.
Get your crypto-goggles ready! At the moment, Solana (SOL) is sitting pretty at $148.35, having surged a whopping 7.06% in the last 24 hours, and raking in a 17% weekly gain.
The excitement doesn't stop there — ARK Invest, led by the one-and-only Cathie Wood, has jumped headfirst into Solana's pool with a massive $5.2 million investment in the 3iQ Solana Staking ETF (SOLQ). That's not all, folks! The MACD, ADX, and RSI indicators are painting a bullish picture, meaning the trend is looking stronger than a continent-sized blockchain.
But what's really got everyone buzzing? Let's talk whale activity! One of Lord Whale's little helpers is holding onto an impressive 1.29 million SOL, valued at a jaw-dropping $180 million! Can you say "big daddy player"?!?
And speaking of big players, Upexi Inc. has just ramped up their game by raising an impressive $100 million to bolster Solana's treasury strategy. These big moves have sent ripples across the crypto universe, and Solana might just be at the frontline of the next big wave.
That's all the tea we've got for now, kids! Keep your eyes peeled on these key levels: resistance is at $147-152, while support can be found at $138. But remember, these are some unruly waters, so beware below the $132 level!
Up close and personal
In a world where one SOL is worth $148.35, here's the lowdown on some notable happenings:
- Big Players' Big Love: Institutional investors like ARK Invest and Upexi Inc. are pouring cash into Solana's ecosystem, showing their belief in the blockchain as more than just a passing fancy.
- ETF Test Drive: Grayscale and Purpose Investments are prepping to launch Solana ETFs, getting ready to take the crypto world for a ride.
- Whale Watching: Some larger-than-life players are stacking Solana like pancakes, with those whales valued at nearly $200 million!
- Oh, Technical Stuff: The MACD, ADX, and RSI are all pointing north, suggesting a prolonged bull run for Solana.
On the network front
All sunshine and rainbows, right? Wrong! Alas, Solana's network has its share of hiccups, with issues surrounding transaction delays, congestion, and high failure rates during peak periods. But hey, even our favorite blockchains need a pick-me-up every now and then, right?
Some things to keep in mind:- Copious Partnerships: Despite a few hiccups, Solana has managed to snag major partnerships like PayPal, and stablecoin inflows continue to grow.- Infrastructure Improvements: With continued development and refinement, Solana may just be able to smooth out those network wrinkles and take the crypto world by storm!
- Institutional investors like ARK Invest and Upexi Inc. are pouring cash into Solana's ecosystem, signifying their faith in the blockchain as more than just a passing fancy.
- Grayscale and Purpose Investments are preparing to launch Solana ETFs, ready to take the crypto world for a ride.
- Some larger-than-life players are accumulating Solana, with some whales valued at nearly $200 million!
- The MACD, ADX, and RSI indicators are all pointing north, suggesting an extended bull run for Solana.
- Despite some network hiccups such as transaction delays, congestion, and high failure rates during peak periods, Solana has secured major partnerships like PayPal, and continues to improve its infrastructure, potentially smoothing out those wrinkles and dominating the crypto world.
