Solana’s $SOL is trending today after flipping both Ethereum and PayPal in different metrics.
Earlier today, $SOL was the most trending cryptocurrency. It still retains its place in the top three as of the afternoon UTC with a 24-hour trading volume of over $4 billion.
Solana’s heavy trading volume and intra-week price appreciation come just as crypto’s fifth biggest token surpassed Ethereum in terms of daily fees. It also flipped PayPal’s market cap.
Indeed, Solana has been heavy with $SOL trades the last 24 hours.
None of the coin’s nearest competitors, Avalanche ($AVAX), Toncoin ($TON), TRON ($TRX) and Cardano ($ADA), managed to come close in volume.
While they posted hefty nine figures, none managed even half a billion in trading volume.
Solana’s $SOL fell by 0.7% in the last 24 hours. At $174, the token is now about 5.8% more expensive than it was this time last week.
Bitcoin ($BTC) rose 1.5% overnight to trade at $68,652, while Ethereum ($ETH), its nearest competitor and the closest to Solana’s functionality, rose 0.6% to hit $2,509.
Solana Price Analysis as SOL Hits Three-Month High
According to the price chart, Solana’s recent upsurge means $SOL is now trading at a three-month-high, although it has been encountering stubborn resistance at $180 since Friday.
Source: TradingView
Solana is likely to go one of two ways this week. At the moment, the token is largely on track to consolidating its recent gains and fortifying its current position.
However, bad news (like one of the infamous Solana network outages), or a generally bearish crypto market, may exacerbate a sell-off that is now picking up pace, according to the token’s falling relative strength index (RSI) of 42.
If that happens, the token may find support at $160.
As SOL Wobbles, Traders Speculate On Vote-To-Earn Meme Coin Flockerz
Being one of the largest established network coins in existence, Solana’s $SOL is unlikely to ever see explosive gains. It’s now broadly fated to follow the market movements of Bitcoin.
However, over in the presales market, investors can get into projects from the very start and maximise the earning potential of their investments.
Beyond the run of “serious” coins, many new meme coins are rapidly raising millions in investments.
That’s because as crypto matures, even meme coins are having to prove their value.
Typically meme coins are purely for entertainment, but some new projects are offering investors multiple avenues to earn rewards, all while keeping the fun, volatility, unpredictability and viral appeal of meme coins.
This month, meme coin fans have been piling into a new vote-to-earn (V2E) meme coin called Flockerz ($FLOCK), a month-old presale that has raised $1.1 million dollars.
Touting itself as “The People’s Meme Coin,” Flockerz offers crypto fans unrivaled community-building incentives and staking rewards.
Holders of Flockerz (known as “The $FLOCK”) are members of a decentralized autonomous organization (DAO) called Flocktopia, where they can draft and vote on governance and improvement proposals.
This structure ensures community consensus dictates the decisions rather than a centralized authority.
Some 25% of the project’s 12 billion $FLOCK meme coin supply is for staking, with the protocol offering stakes yield of 1,510% on the tokens they stake over a two-year period.
Flockerz is a transparent and fully audited project.
That’s why Coinsult audited its smart contract, to give investors peace of mind.
Furthermore, Flockerz is eyeing up listings on both centralized and decentralized exchanges (CEXs and DEXs), so it has global ambitions, like Solana’s $SOL. The vote-to-earn mechanism will launch after listings.
All told, this $FLOCK is going up!
Join now. Follow Flockerz on X and Telegram.
Visit the Flockerz Presale Website
The post Solana Becomes the Top Trending Coin – Could Whales Trigger a $1,000 Price Surge? appeared first on Cryptonews.
