Solana Price Prediction as $3 Billion Trading Volume Blasts SOL into the Green – Time to Buy?
Solana price prediction remains bullish; however, the double top pattern is acting as a major resistance, keeping SOL's uptrend limited under $38.20. Solana (SOL) responded favorably to a recent development involving its blockchain network and Google Cloud.
In response, Solana's trading volume blasted past $3 billion, and its price kept a strong uptrend.
Google is Now a Solana Validator
SOL's price spiked by 15%, taking it temporarily beyond the $38 mark after the cloud provider stated it would begin acting as a validator for the Solana network.
Hertzner, a German data center provider, recently deleted one thousand Solana validators from its system, giving policy violations as the reason.
Despite this, the blockchain network's inventor and CEO, Anatoly Yakovenko, remains unfazed and insists there will be no more interruptions for their customers until the end of the year.
He continued by saying that a forthcoming validator will aid Solana in ensuring continuous service availability across its network. In that case, Google's cloud services are available. The company tweeted at Yakovenko, asking if it was okay to share the news.
The subsequent message read:
“Now that we got your attention… check this out: Google Cloud is running a block-producing @solana validator to participate in and validate the network.”
Circle's Euro Coin Will Debut in Solana in 2023
In the first part of 2023, Circle, a crypto payments startup, will release Euro Coin, a stablecoin backed by the Euro on the Solana blockchain. The director of engineering at Circle, Marcus Boorstin, recently spoke at the Solana Breakpoint conference in Lisbon, Portugal, and he said, "there's already a lot of interest from the ecosystem" for the launch.
At the debut, he said, FTX, a cryptocurrency exchange, will allow users to deposit and withdraw Euro Coin on Solana.
Solana-based DeFi protocols Radium and Solend "announced their intent to do so as well."
Boorstin also disclosed that in the first half of 2023, Circle's Cross-Chain Transfer Protocol would go live on Solana, initially allowing for native transfers of its USDC stablecoin and eventually expanding to Euro Coin.
USDC can now be transferred natively between blockchains thanks to the Cross-Chain Transfer Protocol, a permissionless infrastructure that makes this possible. The process involves exchanging UDSC on the sending chain for USDC that will be burned at the receiving end.
Hence's it's considered as another positive news for Solana, keeping SOL/USD pair bullish.
Solana Price Prediction
Solana's current price is $35.90, with a 24-hour trading volume of $2.4 billion. Solana has increased by over 3.5% in the last 24 hours. CoinMarketCap currently ranks #10, with a live market cap of $12.9 billion. The circulating supply is 359,222,505 SOL coins, and the maximum supply is not known.
The SOL/USD pair is trading bullishly, with immediate resistance at $38.20. The RSI and MACD indicators are exiting the overbought zone, indicating the possibility of a bullish reversal.
SOL's immediate resistance remains at $35.80, and a bearish breakout of this level has the potential to test $33.40.
The SOL/USD pair is likely to trade bullish because the 50-day moving average, in addition to the fundamentals discussed above, is supporting the uptrend.
Dash 2 Trade (D2T)
The second stage of the D2T presale has already sold out, raising $5.16 million in just over two weeks. Dash 2 Trade is a concept created by the hugely popular trading signal company Learn 2 Trade that will be launched in the second half of 2022. The platform's goal is to provide market-driven insights to investors to help them make informed decisions.
To improve the trading experience, D2T provides trading signals, social analytics, and even market sentiment analysis. Dash 2 Trade aspires to be the Bloomberg trading terminal for cryptocurrencies, according to the development team. For automating trading processes and optimizing all trading methods, the platform also includes automation and backtesting capabilities.
Dash 2 Trade includes a notification service that alerts investors to all new coin listings on centralized exchanges, providing them with information that was previously only available to elite investors.
It's no surprise that D2T presale numbers have been phenomenal with so much potential.
The digital currency has already raised more than $5.3 million ($5,370,788).
IMPT team's dedication to the carbon credits revolution has made IMPT the most popular green cryptocurrency on the market. The Impact Project team is revolutionizing the carbon credit industry by putting carbon credits on a public blockchain.
Up until now, the carbon credit system was highly untransparent, applicable exclusively to businesses, and the entire trading mechanism was inefficient and dated.Trading carbon credits as NFTs on the blockchain allows for continuous trading around the clock.
Over 25,000 companies, including Microsoft, River Island, Amazon, and Samsung, are now available on the IMPT shopping platform. Thus far, over $12.3 million has already been raised in the IMPT presale, and tickets are selling out swiftly.
The IMPT token price has increased with each presale round, from $0.018 at the start of the sale to $0.023 at the end of the round. Pre-sale tokens can be purchased on the IMPT website for those interested in taking part in the initiative.
Calvaria, a new cryptocurrency gaming project, is poised to take the industry by storm and become one of the market's top play-to-earn games. Calvaria developers have discovered two major barriers to widespread Web3 gaming adoption.
While investors have recognized the potential of Web3 games, players have not. Calvaria continues to accelerate its presale, which is already in stage 4 of 10 and close to the $1.5 million mark.
With the price of the native RIA token rising significantly at each presale stage, investors are flocking to the rapidly expanding GameFi project.
Tokens cost $0.025 each in stage 4, but by stage 5, the price has risen to $0.03, and by stage 10, tokens cost $0.055.