Altcoins

Flow Price Prediction as NFT Volume Dwindles

Published

1 year ago

January 3, 2023

Crispus

Flow price started the year well as investors bought the coin’s dip. It surged to a high of $0.746, which was the highest level since December 27. It has risen by more than 14.9% from the lowest level in 2023. It has a market cap of more than $755 million.

What is Flow and why is it rising?

Flow is one of the most underrated blockchains in the industry. It is an Ethereum rival that is known for unparalleled speed and significant market activity. It has over 400 network nods and over 2 million monthly transacting wallets. Over 8,000 developers are building decentralised applications using its network.

Flow has been embraced by some of the biggest companies in the world like the NBA, UFC, LaLiga, Samsung, and Meta Platforms. It can be used to build applications in all industries like DeFi, Non-Fungible Tokens (NFT), and the metaverse.

However, Flow is best-known for its NFT projects. According to CryptoSlam, Flow is one of the biggest players in the NFT space in terms of volume. For example, its NFL NFTs have over 90,000 owners while NBA’s Top Shot have over 750k owners. Flow NFTs are available on Instagram.

Recently, however, the volume of Flow NFTs has been in a downward trend. The network handled over $5.2 million worth of NFTs in December, which was lower than the $6 million that it handled in November. At its peak in March 2021, Flow was handling NFTs worth over $208 million. This is one of the reasons why Flow price sunk in 2022.

Flow price prediction

The four-hour chart shows that Flow price has been in a strong bullish trend in the past few days. In this period, it has managed to move above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) moved above the overbought level. It is also approaching the important resistant level at $0.786.

Therefore, Flow will likely continue rising as buyers target the next key resistance point at $0.80. However, a drop below the support at $0.70 will invalidate the bullish view.

Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

4 months ago

December 27, 2023

Crispus

Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

4 months ago

December 22, 2023

Crispus

Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5^th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama…

Altcoins

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

Published

5 months ago

December 1, 2023

Crispus

Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6^th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…