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Solana has emerged as one of the most promising crypto tokens to rule over the current bull season. The network has become one of the most widely adopted chains to interact with, helping SOL skyrocket to new highs. Amid multiple price corrections and rebounds, the token had earlier reached $260, but since then it has scaled down a bit, trading at $150 at press time.  According to CoinMarketCap, Solana is up 4% in the last 24 hours, followed by being up 14% in the previous week. Here’s when the token can reclaim and breach its earlier price high of $250.  Also Read: Solana Meme Coins BONK, DogWifHat, and Maneki Price Analysis for May Solana’s Unparalleled Popularity  Solana ’s recent price rise and ascents have taken the market by storm, helping the token emerge as one of the most successful crypto tokens to have ruled the crypto space. SOL has documented a stellar increase in its presale projects, giving birth to new meme coins sweeping over...

Bitcoin’s dominance in the crypto market has been shrinking lately. Its share has declined from 45% to 27% in 2023. In fact, the dominance dropped by 8% in July as well. A recent Kaiko research report pointed out that the largest asset’s dominance across the top 25 centralized exchanges was currently at its lowest level since April. As a consequence, Altcoins have benefitted from this trend. Collectively, their dominance has reached a 4-month high. Source: Kaiko Also Read: Will Wall Street Accept the ‘Trillion’ Dollar Crypto Custody Challenge? Top Traded Altcoins in 2023 XRP has been on traders’ radar since the beginning of 2023. In anticipation of a positive ruling, participants were seen accumulating the asset during H1. After the ruling, XRP’s volume soared and created record highs. With $150 billion in trading volume, it is currently the top-traded altcoin of 2023. Solana, Dogecoin, BNB, and MATIC stood next. They settled transactions worth $50-$100 b...

A couple of days back beleaguered crypto exchange FTX was hacked. A recent post by blockchain forensics firm Elliptic highlighted that various tokens on Ethereum, BNB Smart Chain, and Avalanche were removed. Out of the $663 million drained, around $477 million is suspected of being stolen, while the remaining is believed to be moved into secure storage by FTX itself.  Right after, developers and other community members suspected the hack might have also compromised Serum, a Solana-based protocol developed by FTX. Developers needed another version of Serum because the original could only be updated via a private key connected to FTX. The Serum DAO, on its part, did not have control over the key. So, because of the FTX hack, that key may have been compromised, and thus, the team decided to go ahead with an emergency fork. Pseudonymous developer Mango Max who led the fork confirmed the same. The developer further highlighted that Serum was the central order book for LPs ...

The hype around NFTs (non-fungible tokens) is long gone. By now, most of the industry is well aware of the fall in prices for major NFT projects. NFT trading volume on Solana , one of the most popular networks for NFT minting, fell by half for the month of October. According to Dappradar, NFT sales witnessed new monthly lows in October. According to Dappradar, NFT trading volume on Solana fell from  $134 million in September to $67 million in October. The higher September volume can be attributed to the highly anticipated launch of the yoots NFT mint passes. Nonetheless, Solana was not the only network to record falling NFT volumes. Ethereum (ETH), saw its volume drop from $$687 million in September, to $518 million in October. However, there could be a lag in the Ethereum numbers as Dappradar is yet to track trading data from Blur, a new Paradigm-backed marketplace launched in September. Why are Solana NFT numbers falling? Frankly, it is not just Solana, but the general NF...

The state of the broader crypto market has deteriorated over the past day. With Bitcoin and Ethereum trading below $19k and $1.3k at press time , the cumulative valuation of the crypto market stood at merely $915 billion. The market, as a whole, has been moving in the same direction as Bitcoin. In fact, as highlighted in a recent article, Bitcoin dominance has been holding fast to its 2018 support of late. Read More: Bitcoin dominance at 2018 support level: Recovery finally? Is Altcoin Season anytime soon? At the moment, the Altcoin Season Index reading has been hovering mid-way, at 57. Conventionally, it is called a Bitcoin season when the reading drops below 25. On the other hand, if it climbs above 75, an Altcoin season is said to be in play. Source: blockchaincenter.net An Altcoin season usually transpires when 75% of the top 50 coins perform better than Bitcoin over the past 90 days. For them to perform better, the buying interest should be on the rise. Of l...