Tag Archives: SOLUSDT

Bitcoin

Eclipse And Neon EVM Drive Solana-Ethereum Integration For Blockchain Interoperability

Layer 2 (L2) blockchain Eclipse and developer-oriented bridge Neon EVM have shaped a brand new collaboration to implement adjustments within the blockchain panorama, rising interoperability and scalability with the combination of Ethereum (ETH) and Solana (SOL). 

Aiming to mix the capabilities of each blockchains, Eclipse has consolidated the compatibility between the Ethereum Digital Machine (EVM) and the Solana Digital Machine (SVM) by deploying Neon Stack.

Solana And Ethereum Integration 

The first goal of this collaboration is to combine Solana’s transaction dealing with capabilities, which might course of hundreds of transactions per second, into Ethereum. 

This integration will probably be facilitated by Neon Stack, a standardized growth stack that allows good contract builders to realize Ethereum Digital Machine compatibility on Solana Digital Machine-based blockchain networks. Eclipse plans to leverage Neon Stack on its SVM L2 to facilitate this integration.

The Neon Stack consists of Neon EVM good contracts and Neon Proxy. It has been stay on the Solana mainnet since July 2023. It has deployed quite a few Ethereum-native Solidity decentralized functions (dApps), together with decentralized finance (DeFi), gaming, and decentralized exchanges (DEXs), on Solana from its present codebase. 

Neon EVM-Eclipse Partnership For Cross-Chain Improvement

Davide Menegaldo, Chief Industrial Officer (COO) of Neon EVM, expressed enthusiasm for Neon Stack and the collaboration, stating: 

With Neon Stack, we’re paving the best way for high-performance, scalable dApps infrastructure that transcends the constraints of conventional blockchain architectures and redefines computational effectivity. We’re happy to see Eclipse as the primary trade accomplice to make the most of the Neon Stack.

Alternatively, Neel Somani, founding father of Eclipse Labs, the corporate behind the event of the Layer 2 blockchain, additionally emphasised the significance of the partnership, saying:

Our collaboration with Neon Stack allows builders to seamlessly deploy their dApps from EVM chains to Eclipse, additional strengthening the harmonization between Solana and Ethereum. Solidity builders who want to construct on a high-performance L2 that leverages the strengths of the SVM can lastly achieve this.”

Apparently, the Ethereum ecosystem hosts over 13,000 dApps, with solely a small fraction, 0.4%, cross-chained with Solana. This collaboration between Neon EVM and Eclipse may additionally present additional alternatives for builders to construct new dApps with the brand new integration. 

In sum, it’s believed that builders will be capable of construct superior dApps that leverage the options of Ethereum and Solana, together with their respective native ecosystems and digital machines, by leveraging the design of the NEON Stack and Eclipse.

Neon EVM
The each day chart exhibits NEON’s worth trending downwards over the previous month. Supply: NEONUSD on TradingView.com

As of the present replace, the native token of NEON EVM, NEON, is buying and selling at $1.0135. It has proven a 2.6% restoration over the previous 24 hours, aligning with the general constructive motion within the cryptocurrency market. Nevertheless, through the previous 7 days, the token has witnessed a worth decline, experiencing a virtually 8% drop.

Featured picture from Shutterstock, chart from TradingView.com 

Disclaimer: The article is offered for academic functions solely. It doesn’t characterize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your personal analysis earlier than making any funding choices. Use data offered on this web site completely at your personal danger.

Bitcoin

Solana Projected To Reach $500 This Year Despite Market Meltdown, Expert Predicts

Solana (SOL), presently ranked because the fifth largest cryptocurrency with a market capitalization of $56 billion, has skilled a major decline amid the current market meltdown affecting the digital asset area. 

Over the previous 24 hours, SOL has witnessed an 8% drop, reflecting the broader market downturn. Regardless of this setback, specialists imagine that if the cryptocurrency maintains assist above the $120 worth degree, it holds notable potential for a powerful worth restoration within the coming months.

Bullish Worth Outlook And Key Help Ranges To Watch 

After reaching a yearly excessive of $209 on March 18, SOL’s present buying and selling worth is $124. Nevertheless, in response to crypto market specialists, SOL nonetheless has a promising outlook. 

Altcoin Sherpa, a famend analyst, suggests that if the altcoin market continues to say no, the $120 worth degree could turn out to be an space of great curiosity for SOL. 

Altcoin Sherpa maintains a bullish sentiment, strongly believing that SOL can doubtlessly exceed $500 this yr. Such a surge would signify a major 300% worth enhance from present ranges, constructing upon the spectacular 426% year-to-date worth development. 

It’s value noting that this projection is almost double SOL’s earlier all-time excessive (ATH) of $259, reached over the last crypto market bull run in November 2021.

Solana
The 1-D chart reveals SOL’s worth downtrend over the previous month. Supply: SOLUSD on TradingView.com

Along with the analyst’s deal with the $120 worth mark, different main resistance ranges for SOL have been recognized. These embrace $110, $102, and the essential long-term assist degree at $74, representing SOL’s uptrend construction over the previous six months. 

Solana Dominates Blockchain Buying and selling Quantity

In keeping with a current CoinGecko report, Solana has secured its place because the second-largest blockchain by buying and selling quantity, commanding a considerable 21.3% market share in March 2024. 

The blockchain platform skilled a notable month-to-month development of 244.8%, with buying and selling quantity surging to $40.05 billion, a major enhance from $11.61 billion in February. 

Solana’s efficiency within the first quarter of 2024 was equally important. It accounted for 14.4% of all decentralized trade (DEX) buying and selling quantity, totaling $62.31 billion. 

This represents a quarter-on-quarter (QoQ) development of 242.7% in comparison with the earlier quarter’s quantity of $18.18 billion. Regardless of robust development, Solana’s market share in the identical quarter ranked fourth, trailing behind Binance Good Chain (BSC).

Solana
Prime 10 blockchains by DEX buying and selling quantity as of March 2024. Supply: CoinGecko

In keeping with CoinGecko, Solana’s buying and selling quantity has been drastically bolstered by a number of components. Firstly, the doubling within the worth of Solana’s native token, SOL, has attracted elevated consideration and buying and selling exercise on the platform. 

Moreover, the community has witnessed giant airdrops from tasks equivalent to Jito (JTO) and Jupiter (JUP), additional fueling buying and selling quantity. Furthermore, the surge in memecoins on the Solana community has considerably contributed to its buying and selling quantity. 

Notably, the launch of Guide of Memes (BOME) in March proved profitable, because it achieved a market capitalization of $1 billion inside two days. BOME additionally secured listings on crypto exchanges like Binance and Bybit, additional amplifying buying and selling exercise on Solana.

Featured picture from Shutterstock, chart from TradingView.com

Disclaimer: The article is offered for instructional functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You’re suggested to conduct your personal analysis earlier than making any funding selections. Use data offered on this web site fully at your personal danger.

Bitcoin

SOL Price Topside Bias Vulnerable If Solana Continues To Struggle Below $170

Solana tried a restoration wave above the $140 degree. SOL value is now struggling to clear the $160 and $170 resistance ranges.

  • SOL value recovered increased and examined the $160 resistance in opposition to the US Greenback.
  • The value is now buying and selling beneath $160 and the 100 easy transferring common (4 hours).
  • There’s a key bullish development line forming with assist at $146 on the 4-hour chart of the SOL/USD pair (information supply from Kraken).
  • The pair might begin one other decline if it stays beneath $160 and $170 for a very long time.

Solana Worth Faces Resistance

Solana value began a serious decline beneath the $170 and $160 assist ranges. SOL examined the $115 zone and not too long ago began an upside correction, like Bitcoin and Ethereum.

There was a good improve above the $130 and $140 ranges. The value climbed above the 23.6% Fib retracement degree of the downward wave from the $205 swing excessive to the $115 low. It even spiked above the $155 zone and the 100 easy transferring common (4 hours).

Nevertheless, the bears are lively close to the $160 zone and the 50% Fib retracement degree of the downward wave from the $205 swing excessive to the $115 low. The value struggled and corrected features.

Supply: SOLUSD on TradingView.com

Solana is now buying and selling beneath $160 and the 100 easy transferring common (4 hours). There’s additionally a key bullish development line forming with assist at $146 on the 4-hour chart of the SOL/USD pair. Speedy resistance is close to the $155 degree. The subsequent main resistance is close to the $160 degree. A profitable shut above the $160 resistance might set the tempo for an additional main improve. The subsequent key resistance is close to $170. Any extra features may ship the value towards the $188 degree.

One other Decline in SOL?

If SOL fails to rally above the $160 resistance, it might begin one other decline. Preliminary assist on the draw back is close to the $145 degree and the development line.

The primary main assist is close to the $132 degree, beneath which the value might take a look at $120. If there’s a shut beneath the $120 assist, the value might decline towards the $100 assist within the close to time period.

Technical Indicators

4-Hours MACD – The MACD for SOL/USD is gaining tempo within the bearish zone.

4-Hours RSI (Relative Energy Index) – The RSI for SOL/USD is beneath the 50 degree.

Main Assist Ranges – $146, and $132.

Main Resistance Ranges – $155, $160, and $170.

Disclaimer: The article is offered for academic functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your individual analysis earlier than making any funding choices. Use info offered on this web site fully at your individual danger.