Solana
Solana Price Rises 12% as New SOL Presale Attracts Investor Attention
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Solana continues to strengthen its claim as the most bullish cryptocurrency during the current bull cycle.
After a sharp decline in April, the price of Solana rebounded in May. It is up 12% from its recent low of $119 and is currently trading at $138 at press time.
Solana’s performance is even more impressive when compared to other large-cap cryptocurrencies. According to Trading ViewThe SOL/BTC trading pair is up 4% this week.
Experts and analysts continue to view Solana as the best long-term investment in the cryptocurrency market, thanks to its high mainstream adoption and network growth.
On the other hand, investors looking for 100x to 1,000x returns are turning to the new Solana meme coins. A new meme token Sealana has caught the attention of crypto traders, having raised almost $150,000 during its presale in just over a day.
Solana Price Rebounds: How High Can It Go?
Solana continues to impress investors and industry leaders with its strong network performance.
A recent report published by Franklin Templeton Digital Assets, titled “Solana: Accelerated Adoption,” further crystallizes this point. The report highlights that Solana will pioneer new crypto trends and continue to grow due to its low network fees, fast transactions, and high data throughput.
The report explicitly highlights that new trends emerging in the crypto industry, including DePIN, micropayments, Compression NFTs, and CLOBs, will likely see the most adoption on Solana.
The phenomenon has already been observed in the case of the same corners. Solana meme coins have significantly outperformed their Ethereum counterparts during this crypto bull market.
Large Web2 companies have also started preferring Solana as a bridge to the Web3 ecosystem. For example, PayPal recently integrated Solana through Moonpay, Stripe restarted USDC payments on Solana, and Shopify and Visa have also made Solana a crucial part of their ecosystem.
It is therefore clear to analysts that the recent drop in Solana’s price has nothing to do with its ecosystem. Rather, this is largely due to the growing macroeconomic risks affecting most risky assets, including gold and crude oil.
While Fed Chairman Jerome Powell struck a dovish tone in his FOMC speech on Wednesday – heralding the start of a Treasury buyout program – the price of Sol is now poised to make a comeback.
Popular crypto analyst Jelle, who has over 80,000 followers, recently claimed that Solana will reach over $500 during this bull cycle.
Likewise, Sol was featured on influencer Ran Neuner’s second spot. crypto buying listpublished on May 1.
New SOL ICO Sealana meme coin starts off with a bang
Solana meme pieces are somehow even more in demand than Sol itself. After all, they acted as leveraged bets on the SOL price, with tokens such as Dogwifhat offering 4x returns compared to Solana.
Today, a new meme coin, Sealana, has captured the imagination of smart money traders and crypto influencers.
Its mascot – a big, burly seal with a diet of chips and canned tuna – is a hilarious depiction of a stereotypical crypto degen. Given that crypto traders invest heavily in meme coins that can make them laugh, it’s no surprise that Sealana raised almost $150,000 in his ICO in just over a day.
Following in the footsteps of other successful plays such as Slerf and Slothana, Sealana has also adopted an innovative fundraising model. Investors participating in the presale can simply send SOL to the project wallet and receive SEAL tokens as an airdrop.
According to the Sealana website, investors will receive 6,900 Sealana tokens for every SOL invested.
Crypto experts and influencers have already started to notice this new meme coin. Popular YouTube channel Cryptonews highlights in a recent video that Sealana could potentially generate gains of up to 100x after its launch.
To find out more about this project, visit the Sealana pre-sale site
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