Solana saw record stablecoin inflows recently. Such spikes are always followed by a rally for SOL; will the trend repeat?
has recorded a massive stablecoin inflow, tipping market observers to suggest that SOL could moon soon based on historical data., the recent pump in stablecoin inflows was a set-up for a possible SOL rally.
Additionally, the analyst suggested this could be insider information for an upcoming update that could sway SOL’s price.Per Gumshoe, SOL’s move above the $70 and $120 levels happened after a massive stablecoin inflow. The latest surge happened on 9th July, worth over $260 million per DeFiLlamaIt’s worth noting that the day coincided with CBOE’s confirmation of the VanEck and 21Shares SOL ETF plans on the exchange.
On 9th July, SOL posted limited gains of about 1% as it consolidated around $141, a key resistance level. Interestingly, the 50-day SMA was also at the resistance level.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana leads in key area despite less users – What lies ahead for SOL?Solana generated higher fees despite having fewer users than Layer 2 solutions. Will SOL see green going forward?
Read more »
Solana consolidates, but SOL can still reach $200Solana's current market behavior suggests that the asset is in a consolidation phase. However, there is potential for a future price surge.
Read more »
Solana stabilizes at $147: Will SOL breakout soon?Solana [SOL] has solidified its position as this cycle's top performer, both in terms of price and network growth.
Read more »
Solana beats Bitcoin, Ethereum on THIS front: Will SOL also rise?Solana [SOL] continued to dominate the NFT ecosystem last month on a particular front as it outshines Bitcoin and Ethereum.
Read more »
Solana’s NFT sales soar 125%: Will this help SOL rise?Solana [SOL] reached a milestone last week in the NFT ecosystem, which looked optimistic, but its price remained under bears' control
Read more »
Solana hits 30M milestone – The odds of SOL’s price reacting are…Solana [SOL] has been generating a lot of buzz in the crypto space with multiple token launches on the blockchain. However, apart from...
Read more »