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As of this writing, Solana (SOL) has surged to a two-year high of $173, reigniting a wave of optimism among traders.
The network has seen a significant increase in activity, thanks in part to the ongoing meme coin rally. Several tokens on the Solana blockchain are receiving attention. Decentralized exchanges (DEXs) operating on the Solana Network also reported significant increases in trading volume.
Many prominent analysts have expressed optimism after the SOL price rose 13% in the last 24 hours. With many investors looking for the next cryptocurrency to explode amid this positive momentum, Green Bitcoin’s presale has emerged as a promising early-stage option.
Why are traders bullish on Solana?
Recently popular cryptocurrency trader Bob Loukas He shared his optimistic outlook for Solana.Based on weekly SOL/USD chart analysis, we predict a possible surge to $250.
This chart shows that Solana successfully broke the resistance level around $140 and transitioned into a solid support area. This could set the stage for a rebound towards the $250 level, about $10 below Solana’s all-time high of about $260 hit in late October 2021.
It is also worth noting that Solana’s share of total DEX trading volume has increased noticeably over the past year.
Crypto analyst Tom Wan highlighted Solana currently holds 29% of the DEX market, a significant jump from its 1.1% share a year ago.
On the other hand, Ethereum’s dominance has decreased slightly and its current market share is around 35%. The surge in trading activity on Solana-based DEXs can be attributed to the current meme coin craze on the network, sparked by massive airdrops from Pyth Network and Jupiter.
Adding to the bullish sentiment is renowned cryptocurrency analyst Byzantine General. I mentioned Solana’s promising prospects..
In this tweet, he mentioned how leverage has actually decreased while prices have been rising. At the same time, the price continued to rise along with notable buying activity on Coinbase.
Considering Solana’s recent breakout of the $140 resistance and the 20 EMA on the daily chart heading north, the near-term outlook for this coin looks bright. However, it is worth noting that a decline below this support level could delay the recovery.
Amid this bullish trend, Green Bitcoin is another token that has achieved milestones in its early stages. As a pre-sale project, GBTC has attracted massive interest from investors looking for the next cryptocurrency.
Green Bitcoin attracted the attention of investors as it surpassed $4 million.
Green Bitcoin ($GBTC) is the latest trend of eco-friendly cryptocurrency that combines the principles of Bitcoin and Ethereum’s eco-friendly PoS mechanism.
This innovative approach makes Green Bitcoin a more sustainable alternative, claiming to be 10,000 times more energy efficient than traditional Bitcoin mining.
It recently launched its pre-sale phase and raised $4.2 million within weeks of launch, demonstrating tremendous community support.
Early buyers can get $GBTC tokens for $0.9162 at press time. This price will continue to increase throughout the pre-sale phase until the anticipated listing.
Green Bitcoin has introduced a ‘Gamified Green Stake’ model that offers early stakers a 118% APY at the time of this writing. However, as more buyers join the staking pool, this rate decreases.
This staking mechanism rewards users for their daily Bitcoin price predictions and provides a unique opportunity to earn passive income.
The total supply of tokens will be limited to 21 million, with 50% going to early investors during the pre-sale period. The allocation plan also includes 27.5% for staking rewards and a fair share for marketing and community incentives.
The Green Bitcoin whitepaper outlines a strategic roadmap for progress through pre-sale, listing on top exchanges, and improvements to staking and prediction systems.
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