Ethereum Traders Buy the Dip as Solana Stablecoins Soar. Will $BEST Go Bullish?
Ethereum saw some huge selling in the early trading hours of Monday as it dipped below the $2.1K mark – a 25% dip from its opening price that day. This fall was a result of whale wallets liquidating their positions in $ETH. For instance, two dormant wallets sent $149M and $201M worth of $ETH to Bitfinex. These wallets were last active in 2019 when a withdrawal of 77,736 $ETH was made. Aave ($AAVE) also saw some rapid liquidations during this time, totaling around $200M. Most of this liquidation came in the loans that were secured by Wrapped $ETH ($WETH), showing $ETH’s stronghold in....
Related News
Bullish, a cryptocurrency exchange backed by venture capitalist Peter Thiel, has filed with the US Securities and Exchange Commission (SEC) to utilize Solana (SOL) stablecoins in the exchange’s latest effort to raise $1.15 billion. This announcement comes shortly after the exchange went public on the New York Stock Exchange (NYSE) under the ticker symbol BLSH, […]
As a growing number of experts and investors focus on the blockchain network frequently referred to as the “Ethereum killer,” the crypto markets have been humming with conjecture over Solana (SOL) in recent weeks. Related Reading: Analyst Upbeat On USTC, Sees Price Soaring Over 300% Solana’s Bullish Momentum Solana has come rushing back, increasing 8% in the previous week alone after falling around 8% during the preceding month. Along with a notable change in market mood, this rebound has corresponded with traders and analysts seeing Solana as a cryptocurrency ready for....
Analysts at crypto-focused asset manager Pantera Capital have made a bullish case for the Solana ecosystem compared to Ethereum. They highlighted the network’s growth and outlined why Solana is bound to steal a massive chunk of the market from Ethereum. Why Solana Will Steal Market Share From Ethereum In their most recent blockchain letter, Pantera […]
Solana Price shot up by 8% over the last 24 hours, painting a bullish chart. Over the past week, the altcoin soared almost 17%. This made Solana one of the top gainers in the past week. Solana has been able to break past its $33 mark and has turned bullish on its chart. It also formed a bullish pattern, thereby giving hope to traders. Solana might encounter rigid resistance at the $41 price zone. Many altcoins have managed to flash signs of optimism as Bitcoin started to trot up on its chart. The technical outlook pointed toward the bulls taking over as demand for Solana shot up. Traders....
Solana continues to showcase a positive price movement as it outperforms the rest of the market. This recent surge in value allowed Solana to surpass Binance Coin (BNB) in market capitalization rankings last week, marking a significant milestone for the digital asset. Related Reading: MANA Soars As Market Optimism Returns, Next Stop $0.3713 Level Delving deeper into its performance, technical analysis suggests that Solana’s bullish trend is likely to persist into the coming week. Indicators point to sustained momentum, which could see its price continue to climb. Captain Faibik....