{"id":514781,"date":"2023-01-04T12:00:14","date_gmt":"2023-01-04T17:00:14","guid":{"rendered":"https:\/\/ktsl888.com\/?p=514781"},"modified":"2023-03-08T07:26:30","modified_gmt":"2023-03-08T07:26:30","slug":"solana-leads-crypto-market-gains","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/solana\/solana-leads-crypto-market-gains\/","title":{"rendered":"Solana Leads Crypto Market Gains, How Long Will This Continue?"},"content":{"rendered":"

Solana (SOL) has been ahead of the rest of the crypto market when it comes to gains. The market had seen renewed interest following the holidays which led to a small recovery here and there especially for the large players but Solana had been able to break completely from the trend and record double-digit gains in the last couple of days.<\/p>\n

What Is Driving Solana\u2019s Growth?<\/h2>\n

Despite being at the forefront of massive FUD that has dragged its price down toward two-year lows, Solana has now been able to recover a good amount of gains over the last few days. While the comments from Ethereum founder Vitalik Buterin<\/a> in support of the blockchain had helped, there was another factor pushing the price higher.<\/p>\n

Related Reading: Santiment Paints Bullish Picture For XRP, But This May Not Be The Case<\/a><\/div>\n

A new meme coin known as BONK had graced the Solana ecosystem and after being airdropped to holders of major NFT projects, the price of the meme coin had soared. The resulting gains would see investors FOMO into the cryptocurrency and since they needed to trade on the Solana network, the price of SOL had surged given all of the new attention it was receiving.<\/p>\n

\"Solana<\/p>\n

In two days, SOL ballooned to become one of the best performers in the space coming into the new year. It is up over 16% in the last 24 hours alone and the price of the digital asset has moved from the loss territory into the green over the last week. It is now sitting at almost 37% gains for investors over this time period, according to data from Coinmarketcap.<\/p>\n

Can SOL Hold The Gains?<\/h2>\n

Right now, the growth of SOL in the market is still largely driven by the FOMO triggered by the BONK meme coin. Since the hype around this coin has been waxing strong, it is expected that interest will remain high among investors, thereby sustaining the growth trend recorded by Solana.<\/p>\n

Related Reading: Bitcoin Mining Difficulty Sees Sharp 3.59% Drop<\/a><\/div>\n

However, it is important to keep in mind that the BONK cryptocurrency is largely driven by hype, and just like any other meme coin, it is expected that this hype would die down at some point. Now, once this happens, the decline in interest would also significantly impact the price of SOL, dragging it down along with it. That is unless something else comes up to drive the price of SOL higher.<\/p>\n

It is also expected that some profit-taking would begin, where investors would begin to dump SOL to claim the gains already being seen. This, as well, will contribute to a wind-down, and a downward correction would follow. But this correction is not expected to claim more than 10% of current profits given that the price of SOL is now trading above its 20-day moving average of $12.3.<\/p>\n

SOL is changing hands at $13.72 at the time of this writing. It has overtaken Shiba Inu to become the 15th largest cryptocurrency with a market cap of $5.04 billion.<\/p>\n

Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Analytics Insight, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Solana (SOL) has been ahead of the rest of the crypto market when it comes to gains. The market had seen renewed interest following the holidays which led to a small recovery here and there especially for the large players but Solana had been able to break completely from the trend and record double-digit gains in the last couple of days. What Is Driving Solana\u2019s Growth? Despite being at the forefront of massive FUD that has dragged its price down toward two-year lows, Solana has now been able to recover a good amount of gains over the last few days. While the comments from Ethereum founder Vitalik Buterin in support of the blockchain had helped, there was another factor pushing the price higher. Related Reading: Santiment Paints Bullish Picture For XRP, But This May Not Be The Case A new meme coin known as BONK had graced the Solana ecosystem and after being airdropped to holders of major NFT projects, the price of the meme coin had soared. The resulting gains would see investors FOMO into the cryptocurrency and since they needed to trade on the Solana network, the price of SOL had surged given all of the new attention it was receiving. In two days, SOL ballooned to become one of the best performers in the space coming into the new year. It is up over 16% in the last 24 hours alone and the price of the digital asset has moved from the loss territory into the green over the last week. It is now sitting at almost 37% gains for investors over this time period, according to data from Coinmarketcap. Can SOL Hold The Gains? Right now, the growth of SOL in the market is still largely driven by the FOMO triggered by the BONK meme coin. Since the hype around this coin has been waxing strong, it is expected that interest will remain high among investors, thereby sustaining the growth trend recorded by Solana. Related Reading: Bitcoin Mining Difficulty Sees Sharp 3.59% Drop However, it is important to keep in mind that the BONK cryptocurrency is largely driven by hype, and just like any other meme coin, it is expected that this hype would die down at some point. Now, once this happens, the decline in interest would also significantly impact the price of SOL, dragging it down along with it. That is unless something else comes up to drive the price of SOL higher. It is also expected that some profit-taking would begin, where investors would begin to dump SOL to claim the gains already being seen. This, as well, will contribute to a wind-down, and a downward correction would follow. But this correction is not expected to claim more than 10% of current profits given that the price of SOL is now trading above its 20-day moving average of $12.3. SOL is changing hands at $13.72 at the time of this writing. It has overtaken Shiba Inu to become the 15th largest cryptocurrency with a market cap of $5.04 billion. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from Analytics Insight, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":514791,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[12837,86420,83626,87685,86410,83627],"class_list":["post-514781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-sol","tag-sol-price","tag-solana","tag-solana-performance","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\nSolana Leads Crypto Market Gains, How Long Will This Continue?<\/title>\n<meta name=\"description\" content=\"Solana (SOL) has been ahead of the rest of the crypto market when it comes to gains. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana Leads Crypto Market Gains, How Long Will This Continue?","url":"http:\/\/ktsl888.com\/news\/solana\/solana-leads-crypto-market-gains\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/solana\/solana-leads-crypto-market-gains\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Solana-SOL.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Solana-SOL.jpeg?fit=900%2C500"},"articleSection":"Solana","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["sol","sol price","solana","solana performance","solusd","solusdt"],"dateCreated":"2023-01-04T17:00:14Z","datePublished":"2023-01-04T17:00:14Z","dateModified":"2023-03-08T07:26:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana Leads Crypto Market Gains, How Long Will This Continue?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/solana-leads-crypto-market-gains\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/solana-leads-crypto-market-gains\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Solana-SOL.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Solana-SOL.jpeg?fit=900%2C500\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"sol\",\"sol price\",\"solana\",\"solana performance\",\"solusd\",\"solusdt\"],\"dateCreated\":\"2023-01-04T17:00:14Z\",\"datePublished\":\"2023-01-04T17:00:14Z\",\"dateModified\":\"2023-03-08T07:26:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Solana-SOL.jpeg?fit=900%2C500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/514781"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=514781"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/514781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/514791"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=514781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=514781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=514781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}