Amid the current market recovery, Ethereum's (ETH) new high prediction has captured attention. Meanwhile, Fantom’s (FTM) price faces resistance in its key levels. In all these developments, Rollblock is emerging among altcoins as one to watch in 2024. With prices anticipated to hit 50x growth potential in its Tier 1 CEX listing in Q3 2024, analysts are optimistic that Rollblock is one of the best altcoins to invest in 2024.
Solana (SOL), currently ranked as the fifth largest cryptocurrency with a market capitalization of $56 billion, has experienced a significant decline amid the recent market meltdown affecting the digital asset space. Over the past 24 hours, SOL has witnessed an 8% drop, reflecting the broader market downturn. Despite this setback, experts believe that if the cryptocurrency maintains support above the $120 price level, it holds notable potential for a strong price recovery in the coming months. Bullish Price Outlook And Key Support Levels To Watch After reaching a yearly high of $209 on March 18, SOL’s current trading price is $124. However, according to crypto market experts, SOL still has a promising outlook. Altcoin Sherpa, a renowned analyst, suggests that if the altcoin market continues to decline, the $120 price level may become an area of significant interest for SOL. Altcoin Sherpa maintains a bullish sentiment, strongly believing that SOL can potentially exceed $500 this year. Such a surge would represent a significant 300% price increase from current levels, building upon the impressive 426% year-to-date price growth. It is worth noting that this projection is nearly double SOL’s previous all-time high (ATH) of $259, reached during the last crypto market bull run in November 2021. Related Reading: Crypto Funds Mark 3rd Consecutive Weeks Of Outflows With $435 Million In Withdrawals In addition to the analyst’s focus on the $120 price mark, other major resistance levels for SOL have been identified. These include $110, $102, and the critical long-term support level at $74, representing SOL’s uptrend structure over the past six months. Solana Dominates Blockchain Trading Volume According to a recent CoinGecko report, Solana has secured its position as the second-largest blockchain by trading volume, commanding a substantial 21.3% market share in March 2024. The blockchain platform experienced a notable monthly growth of 244.8%, with trading volume surging to $40.05 billion, a significant increase from $11.61 billion in February. Solana’s performance in the first quarter of 2024 was equally significant. It accounted for 14.4% of all decentralized exchange (DEX) trading volume, totaling $62.31 billion. This represents a quarter-on-quarter (QoQ) growth of 242.7% compared to the previous quarter’s volume of $18.18 billion. Despite strong growth, Solana’s market share in the same quarter ranked fourth, trailing behind Binance Smart Chain (BSC). Related Reading: XRP Price On Watch: Can This 23 Million Token Purchase Spark A Rally? According to CoinGecko, Solana’s trading volume has been greatly bolstered by several factors. Firstly, the doubling in the price of Solana’s native token, SOL, has attracted increased attention and trading activity on the platform. Additionally, the network has witnessed large airdrops from projects such as Jito (JTO) and Jupiter (JUP), further fueling trading volume. Moreover, the surge in memecoins on the Solana network has significantly contributed to its trading volume. Notably, the launch of Book of Memes (BOME) in March proved successful, as it achieved a market capitalization of $1 billion within two days. BOME also secured listings on crypto exchanges like Binance and Bybit, further amplifying trading activity on Solana. Featured image from Shutterstock, chart from TradingView.com
Cardano (ADA) is finally seeing some action again, as data from the market intelligence platform IntoTheBlock shows that there has been a notable spike in whale activity. This has revived hopes that the ADA token could soon record a significant price surge due to this development. Cardano Whales Move $13.84 Billion IntoTheBlock mentioned in an
The altcoin space has recently taken a hit in its value, as the broader crypto market has seen a decline to $2.43 trillion based on CoinGecko data. As a result, many are now looking for ways through which they can recoup some of the losses experienced by this negative market trend, and are doing so through diversifying their crypto portfolio.
Eight major U.S. newspapers have filed a lawsuit against OpenAI and Microsoft, claiming they have violated copyright laws. The lawsuit was filed in the Southern District of New York and contends that the companies took copyrighted material from these newspapers without permission to train their artificial intelligence (AI) products, such as ChatGPT and Microsoft’s Copilot. The post AI News: Eight Newspapers File Copyright Lawsuit Against OpenAI, Microsoft appeared first on CoinGape .
The approval of Bitcoin ETFs in the US in January this year broadened the outlook of the crypto market for most investors. Attention quickly shifted to Ethereum with companies swiftly filing with the Securities and Exchange Commission (SEC) to offer spot ETH ETFs. For a short while, Ethereum price surged alongside Bitcoin price. Although the The post Will Ethereum Price Hit $10,000 If The SEC Changes Tune? appeared first on CoinGape .
Representative Patrick McHenry has accused SEC Chairman Gary Gensler of misleading Congress. This accusation emerged during a Financial Committee hearing on the lawsuit between Consensys Vs. SEC. McHenry pointed to court filings that question Gensler’s consistency regarding Ethereum’s (ETH) classification as a security. These filings show a possible contradiction in Gensler’s statements compared to previous The post Consensys vs. SEC: McHenry Accuses Gensler of Misleading Congress on Ethereum Classification appeared first on CoinGape .
With no signs of crypto market recovery, the growth of cryptocurrencies has been down for days. The crypto heatmap is stained in red, with a few cryptocurrencies succeeding with a surge. However, it is a temporary pause for the market, and a recovery phase is soon to occur, followed by a bull market by the The post 4 New Cryptocurrencies You Should Watch Out In May appeared first on CoinGape .
Beginning this week, Uniswap users can leverage Robinhood Connect to purchase cryptocurrencies with funds from their Robinhood accounts or a debit card, as well as via bank transfer.
Solana Price Analysis: On Tuesday, the cryptocurrency market witnessed a major outflow following the lead of Bitcoin price correction to $60000. The sudden sell-off tumbled most of the top altcoins including Solana which recorded an 11% intraday loss. The falling price teasing a breakdown from multi-month support hints the sellers lead an extended correction trend The post Solana Price Analysis: Will Market Sell-off Push $SOL Back to $100? appeared first on CoinGape .