Solana price prediction is bullish; however, SOL has to break above the $32.10 double top resistance level before exhibiting an uptrend. The Finder’s panel published a survey highlighting investors’ concerns about the Solana network yesterday. The most serious problem affecting the network is power outages.
According to the poll, 22% of respondents believe that power outages are caused by cheap transactions, while 78% believe there is a larger issue. According to the research, the majority of holders intend to “hold” Solana for an extended period.
Whereas, 44% of investors intend to hold SOL for the long term, and 22% intend to sell the assets. Furthermore, 33% of investors intend to purchase SOL and add it to their portfolios shortly.
On the panel, Sathvik Vishwanath, CEO of Unocoin Technologies, claimed that Solana is the world’s fastest blockchain and has the fastest-growing crypto ecosystem, with hundreds of projects spanning Defi, NFTs, Web3, and more.
Furthermore, the Finder’s panel’s Solana price forecast has been updated. According to the panel, SOL could hit $35 by the end of October 2022.
LunarCrush, a popular cryptocurrency social and market insights website, released a list of the top ten altcoins based on social activity. Solana was fourth on the list, with a $39 24-hour trading volume and a market value of $10.26 billion.
The market cap is not the only metric that matters in the cryptocurrency industry. Although it is a useful tool, there is much more to think about. Assessing the market’s mood as a whole usually yields new perspectives on how people approach the market. This means that an increase in social volume could benefit the price of SOL/USD.
The US stocks rose as investors weighed economic growth risks and mixed corporate earnings. New economic data revealed a drop in US consumer confidence as a result of aggressive interest rate hikes and concerns about the recession.
The S&P 500 Index rose 1.6% on Tuesday. Furthermore, the 60-day correlation coefficient between Bitcoin and S&P 500 contracts was nearly 0.63. The price of these digital currencies has tracked that of US stocks for the majority of the year.
As a result of the close relationship between cryptocurrencies and tech stocks, there is speculation that Solana’s value will rise.
This news is published and verified by the NFT News media team.
Hey There. I found your blog the use of msn. This is a really neatly written article. I’ll be sure to bookmark it and come back to read more of your useful info. Thanks for the post. I will certainly comeback.