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Solana News
Cryptopotato
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Binance Pay Transactions Hit $72.4 Billion as Crypto Adoption Accelerates
- The number of Binance Pay users tripled from the previous year, reaching 41.7 million.
- The total transaction volume processed through Binance Pay in 2024 stood at $72.4 billion, a significant increase from $2.5 billion in 2021.
- Stablecoins, particularly Tether (USDT), dominated Binance Pay transactions, accounting for 80% of the total payment volume.
- Binance Pay's expansion aligns with the increasing role of crypto in everyday transactions and the overall growth of the crypto market.
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Crypto-News-Flash
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Litecoin (LTC) on Track to Mirror XRP and Solana (SOL) Rally
- Litecoin (LTC) has seen a significant increase in its market capitalization and trading volume, with a 46% hike over the last two weeks.
- A potential approval for a Litecoin-based exchange-traded fund (ETF) has brightened the spirits of investors, with a likelihood of around 90%.
- The approval of a Litecoin ETF would open the door for more cryptocurrency ETFs and potentially benefit other tokens like SOL, XRP, and LINK.
- Market analysts predict strong performance for Litecoin, with expectations of price increase and potential support and resistance levels.
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TheNewsCrypto
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Doodles NFT Hits $16M Weekly Volume Following Memecoin Announcement
- Doodles NFT collection achieves $16 million weekly trading volume after announcing $DOODS, a Solana-based meme coin.
- This marks the collection's second-highest trading peak in 2024, demonstrating the trend of Ethereum NFT projects expanding into Solana's memecoin ecosystem.
- The strategic shift towards a dual-chain approach helps NFT projects maintain their collections on Ethereum while leveraging Solana's trading benefits.
- The migration to Solana is driven by practical factors, such as Ethereum's high transaction fees and Solana's established memecoin ecosystem.
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Crypto-News-Flash
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Franklin Templeton Files for Solana Spot ETF Approval
- Franklin Templeton has filed for approval of a Solana-based spot ETF with the SEC.
- The decision by the SEC could impact institutional adoption of Solana and may face potential roadblocks.
- This move by Franklin Templeton further expands their cryptocurrency investment offerings.
- If approved, the Solana ETF could introduce a staking system, allowing investors to generate additional revenue by staking SOL tokens.
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Cryptoninjas
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Meme Coin Mania on Solana Cools Down: Is the Party Over?
- The initial surge in Solana-based meme coin launches is slowing down, indicating potential token launch fatigue.
- High-profile scandals surrounding meme coins are denting investor confidence in the crypto space.
- The SEC is increasing scrutiny on crypto, particularly to protect retail investors, suggesting upcoming regulations.
- Solana's meme coin enthusiasm is diminishing, with a notable decrease in daily token launches, possibly indicating market saturation.
- The meme coin frenzy on Solana, started in January, is declining, highlighting signs of market weariness.
- The LIBRA meme coin fiasco, involving Argentine President Javier Milei, and its subsequent rug pull affected investor sentiment negatively.
- Factors beyond market cycles like scandals and rug pulls contribute to the downturn in meme coins, raising concerns about fraud in the ecosystem.
- Apps like Pump.fun, a prominent launchpad for Solana-based tokens, are witnessing a decline in token launches amid the meme coin slowdown.
- Industry voices, including Ethereum co-founder Vitalik Buterin and others, express concerns over meme coin scams and insider trading, emphasizing the need for increased regulation.
- The SEC's establishment of a Cyber and Emerging Technologies Unit signals a crackdown on fraud and misconduct in the crypto sector, aiming to protect retail investors.
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TronWeekly
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Bitcoin and Big Caps Take Over Post-Election: Can Ethereum Reclaim Its Lead?
- Bitcoin, XRP, and Solana have taken over the market share post-election, signaling growing dominance of large-cap coins.
- Bitcoin's rally and the movements of XRP and Solana have led to the shift in market share from small and mid-cap coins to large-cap coins.
- Ethereum's return to dominance is crucial for a balanced market recovery, as it historically sets trends for altcoins and influences price movements.
- The market expects Ethereum to regain its footing and provide a stimulus for other altcoins to increase their value.
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Bitcoinsensus
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Solana Price Prediction: Will SOL Dip Before a Rally?
- Solana price could dip lower to grab liquidity before another rally.
- If demand holds, SOL may push towards the next supply zone above.
- Markets are unpredictable, so confirm key levels before making a move.
- Solana's price prediction suggests a potential dip before another rally.
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Cryptopotato
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Crypto Price Analysis February-21: ETH, XRP, ADA, BNB, and SOL
- Ethereum (ETH) consolidated, aiming for a breakout above $2,870 to reach $3,000.
- Ripple (XRP) increased by 5% but still faces resistance at $3.
- Cardano (ADA) remains at $0.8, unable to break resistance at $0.9.
- Binance Coin (BNB) pulled back after failing to break $700 resistance, must defend support at $600.
- Solana (SOL) experienced a difficult week with an 11% decline, facing pressure at the $164 support level.
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TheCryptoBasic
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Solana Aims for $180 Breakout: Will It Propel SOL to $260?
- Solana recovered 4.24% and surpassed the $175 mark.
- Solana forms a Morning Star pattern indicating a potential reversal.
- Technical indicators show upcoming bullish signals for Solana.
- Whale accumulation and positive market sentiment support a breakout above $180 and a potential move towards $260 for SOL.
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Zebpay
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Polkadot vs. Solana: What are the Differences?
- Polkadot and Solana are two third-generation blockchain platforms that offer unique features and functionalities.
- Polkadot, launched by Gavin Wood, focuses on interoperability with its multi-chain platform supporting parachains.
- Solana, founded by Anatoly Yakovenko, stands out for its speed, scalability, and efficiency in processing transactions.
- Polkadot's native token, DOT, plays a significant role in network security, fees, and governance decisions.
- Solana's architecture allows processing up to 65,000 TPS, leveraging Proof of History for transaction verification.
- Polkadot utilizes Nominated Proof of Stake (NPoS) while Solana combines Proof of Stake (PoS) and Proof of History (PoH) for consensus.
- Solana outperforms Polkadot in transaction speeds, reaching up to 65,000 TPS compared to Polkadot's 1,000 TPS.
- Polkadot excels in interoperability with parachains, facilitating seamless sharing of data and assets between networks.
- Solana faces occasional network downtime, unlike Polkadot which has shown more stability in operations.
- Polkadot aims at tackling scalability, interoperability, and governance issues in the blockchain space, while Solana focuses primarily on scalability.
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Crypto-News-Flash
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Sol Strategies Partners with Tetra Trust for Secure Solana Staking
- Sol Strategies Inc. partners with Tetra Trust to provide secure, regulated Solana staking for institutional clients in Canada.
- Sol Strategies expands their Solana holdings and announces a letter of intent to acquire a major validator on the Solana network.
- Tetra Trust and Sol Strategies partner to enhance institutional access to secure, regulated Solana staking in Canada.
- Despite market challenges, Solana's price strengthens, with SOL trading at approximately $176.10 and a market cap above $85 billion.
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Cryptonews
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On the Radar – What to watch this week in Crypto
- Bears might be sweating, up to $3b in short-side liquidations could be triggered with a move to $100k.
- US policymaker announcement this week suggests that some restrictive policies may pause.
- Altcoin Analysis: ETH and SOL.
- Bitcoin's potential surge to $100,000 could lead to a short squeeze and liquidation of short positions worth $3 billion.
- Brian Armstrong, CEO of Coinbase, expressed support for memecoins and free market capitalism in a recent post.
- US Federal Open Market Committee minutes hint at a positive step towards monetary policy easing.
- Bitcoin is trading around $98k, with indications of potential upward movement based on market structure and short squeeze possibilities.
- Ethereum is consolidating in the middle of its price range, with potential bullish moves if higher highs are sustained.
- Solana has reclaimed range lows but failure to hold could lead to new lows under $160.
- Stay informed on crypto trends by subscribing to Crypto with Pav on YouTube and following updates on Substack.
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TronWeekly
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Solana Whales Make Bold Moves $8 Million from Binance as Accumulation Rises
- Over 134,482 Solana (SOL) worth $8 million were moved from Binance to staking, indicating bullish sentiment and reducing selling pressure.
- Despite a 45% decline in SOL's price over the past month, whales continue to accumulate, focusing on long-term objectives.
- A separate withdrawal of 20,000 SOL ($4.3 million) suggests fund management strategies and reinforces market optimism.
- Whale accumulation and staking of SOL indicate a bullish outlook, despite recent price struggles in the market.
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Bitcoinist
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Solana More Resilient Than Bitcoin, Ethereum In This Metric, Glassnode Reveals
- The on-chain analytics firm Glassnode reveals that Solana has shown more resilience than Bitcoin and Ethereum in terms of hot capital.
- Hot Capital is an on-chain metric that tracks recent capital flows for an asset, combining the Realized Cap of specific coin age ranges.
- Compared to the December peak, fresh demand for Ethereum has dropped by over 52%, while Bitcoin has seen a larger drop of 77%.
- In contrast, Solana's hot capital has only decreased by 25% since December, showcasing its resilience compared to BTC and ETH.
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Cryptopotato
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Helius Labs CEO Defends Solana Amid Criticism Over Meme Coin Frenzy
- Helius Labs CEO, Mert Mumtaz, defends Solana amid criticism over meme coin frenzy.
- Mumtaz argues that Solana is being unfairly blamed for trends that exist across all networks.
- Solana's recent surge in activity has been fueled by meme coins, leading to criticism and negative sentiment.
- Mumtaz highlights Solana's diverse applications and innovations beyond meme coins, but critics remain skeptical.
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