Solana has surged to the top of DEX transactions, reaching 435 million in August, while daily active addresses increased to 3.5 million. Despite this network activity, SOL’s price remains bearish, dropping nearly 20% in the past week, with selling pressure rising and a decline in trading volume suggesting potential price corrections ahead. Currently, SOL is testing a crucial support level at $129.67, with hopes for recovery towards $163 if bullish momentum can be sustained.
read moreCoin98 Analytics
0 in Finance and 0 in Crypto last week
Solana NFT Sales Surge in August Despite Decline in Buyers and Sellers
In August, Solana ranked second in NFT sales with $79 million, trailing Ethereum’s $131 million, while Bitcoin followed at $59 million. Despite this, Solana experienced a significant drop in NFT buyers and sellers, down 36% and 33% respectively, and a 50% decrease in total transactions. However, recent data indicates a slight recovery in September, with a 2.7% increase in NFT sales volume and a rise in buyer and seller activity, even as SOL’s price fell over 16% last week, currently trading at $130.95.
read morePolkadot Development Activity Declines Amid Bullish Price Momentum
Polkadot (DOT) has seen a decline in development activity, ranking 8th among blockchains with 5.35k weekly commits, while Ethereum leads with over 42k. Despite this drop, DOT’s price surged by over 13% last week, trading at $4.90, but indicators suggest potential bearish trends ahead, including a rising funding rate and a dip in long/short ratios. Investors should be cautious, as liquidations may increase near the $5 mark, potentially leading to a price correction to $4.3.
read moreToncoin Listing on Binance Sparks 10% Surge Amid ‘Curse’ Concerns
The listing of Toncoin on Binance led to a 10% surge in its price, despite concerns about the “Binance curse” impacting its value. While Toncoin has seen substantial growth and is among the top ten cryptocurrencies by market cap, research suggests that tokens listed by Binance in 2024 have largely underperformed, raising doubts about the potential impact of the listing on Toncoin’s price. Despite this, TON enthusiasts believe that the Binance listing will bring positive outcomes for the project.
read moreSolana’s Q2 Performance and Q3 Outlook: A Comprehensive Analysis
Solana’s Q2 performance saw a 42x revenue increase, with significant growth in fees, revenue, and trading volume. The blockchain’s DeFi space showed exceptional performance, with a 1000% increase in TVL and a significant rise in NFT creation and transactions. However, Q3 started with a decline in daily active addresses and transactions, although the token’s price gained bullish momentum, increasing by over 3% in the last seven days.
read moreEthereum’s Q1 Transaction Fee Revenue Surpasses Major Public Companies
Ethereum’s transaction fee revenue hit a record high of $1.2 billion in Q1 2021, surpassing the earnings of major public companies like Etsy and Reddit. With a 79% increase from the previous quarter, Ethereum’s revenue growth is attributed to the surge in transaction fees during the market rally in March, setting the stage for a potentially lucrative future. VanEck’s prediction of Ethereum’s revenue potentially reaching $51 billion to $136 billion annually by 2030 underscores the network’s potential for growth and evolution beyond its current role.
read moreSolana’s Q1 Performance and Q2 Outlook: A Detailed Analysis
Solana’s market cap soared by over 130% in Q1, but sentiment turned bearish last week as the token’s price dropped by more than 5%. Despite a surge in revenue, the blockchain’s total earnings plummeted due to a significant rise in expenses. Additionally, SOL’s social volume remained high, reflecting its popularity, but investor confidence dwindled, leading to a dominant bearish sentiment in the market.
read moreNuggetRush and Ripple: Crypto Analyst Predicts Price Targets and Ethereum’s Q1 2024 Usage Surge
Crypto analyst predicts potential Ripple breakout with price targets of $0.702 and $0.786, while Ethereum sees significant Q1 2024 adoption with a surge in commission income and NFT minting. NuggetRush, an upcoming virtual mining adventure, gains attention for its potential 100x surge upon listing.
read moreEthereum’s Q1 2024 Financial Performance and Market Outlook Analysis
Ethereum (ETH) experienced significant growth in Q1 2024, with a notable increase in revenue and a surge in the number of ETH holders. The decline in exchange reserves and positive derivatives market outlook have sparked optimism among investors, while the upcoming launch of spot Ethereum ETFs and the recent SEC interest in ETF filings from major financial institutions indicate further potential for growth in Q2.
read moreEthereum’s Q2 Performance Indicates Bullish Trends and Revenue Growth
The first quarter of 2024 saw significant growth for Ethereum, with a surge in income and a substantial increase in the number of holders. The bullish trend continued into Q2, as Ethereum’s captured value remained high and various metrics indicated a potential bull rally. With increasing transaction volume, dropping exchange reserves, and optimistic signals in the derivatives market, Ethereum’s outlook for the coming days looks promising.
read more