President Trump shocked the crypto ecosystem by endorsing and incorporating selected digital assets, including
SOL coin, into the U.S. strategic crypto reserves. This groundbreaking decision sparked a short-term rally across the designated coins, including
SOL, XRP, ADA, BTC, and ETH. In particular, the price of SOL coin surged towards a new high. Despite the initial enthusiasm, skepticism arose over Trump's strategy, suggesting it might be a calculated move to secure reserves in other dominant cryptos like BTC and ETH. In parallel, SOL coin has fallen from its all-time high by almost 50%, owing to various factors such as a LIBRA memecoin scandal which tarnished Solana's image. Also, a sharp decline in Total Value Locked (TVL) likely impacted SOL's value. Analysts have varying predictions regarding SOL's future trajectory, with some anticipating a climb to $500, while others warn of a potential crash to $75. Further,
Trump's announcements also triggered an overall global crypto rally worth $300 billion. However, following the initial spurt, the crypto market, including ADA, XRP, and SOL, wiped out most of these gains. Despite this, some analysts foresee SOL challenging other coins and even potentially hitting a $1000 price. Simultaneously, it appears
FTX and Alameda wallets have unstaked $431m in SOL which resulted in the price drop. Although SOL coin still experiences significant volatility, industry insiders point out that its technical analysis and future outlook remain optimistic.
SOL Coin News Analytics from Thu, 06 Feb 2025 08:00:00 GMT to Thu, 06 Mar 2025 00:05:02 GMT -
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- Information 5
- Rumor -6
