By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Can Solana’s Bull Run Push It to $1,400?
Share
Notification Show More
Latest News
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Crypto > Can Solana’s Bull Run Push It to $1,400?
Crypto

Can Solana’s Bull Run Push It to $1,400?

News Room
Last updated: 2024/10/16 at 2:35 AM
News Room
Share
4 Min Read
SHARE

Solana, the market-leading cryptocurrency known for its speed and low cost, has seen a sharp reversal in price from its recent highs near $160. Despite this, its on-chain activity is increasing, particularly in the realm of Solana meme coin trading. In fact, Solana-based decentralized exchange (DEX) trading volumes have exceeded those of Ethereum over the past 24 hours and seven days. This surge in on-chain growth showcases Solana’s potential as a competitor in the decentralized finance (DeFi) space, with volumes reaching $1.858 billion in the past 24 hours and $9.52 billion in the past seven sessions.

This rise in Solana’s DEX activity is significant, as it has previously lagged behind Ethereum in terms of trading volumes for much of 2023. However, recent data indicates that Solana briefly surpassed Ethereum’s DEX volumes in July and August, marking a major milestone for the blockchain. Despite this achievement, Solana’s market cap remains relatively low compared to Ethereum, suggesting that it may be undervalued in the market. As a result, many analysts are optimistic about Solana’s potential for a major rally, with some speculating that it could even reach $1,400 in the future.

From a fundamental perspective, the crypto market is showing signs of improvement, with pro-crypto US presidential candidate Donald Trump gaining popularity in betting markets. This shift in sentiment could potentially support a rally in major cryptocurrencies like Solana, pushing prices back to yearly highs. On the technical side, Solana’s price has formed an ascending triangle pattern, with resistance at $160. If the price breaks above this level, a strong rally back above $200 is likely, potentially leading to a 3-5x increase in value over the coming year. Additionally, if Solana can maintain its position as a dominant DeFi chain, reaching $1,400 is not out of the question.

For traders looking for faster gains, meme coin presales may offer opportunities for significant returns. One promising meme coin, Flockerz (FLOCK), has attracted over $700,000 from early investors and features a unique vote-to-earn mechanism. Popular analyst Jacob Crypto Bury believes that Flockerz has the potential to grow by 100x, making it an attractive option for those seeking high-risk, high-reward investments. However, it’s important to note that investing in crypto assets carries inherent risks, and individuals should conduct thorough research and exercise caution when entering the market.

In conclusion, Solana’s recent surge in on-chain activity and potential for a major rally have captured the attention of traders and investors alike. With its strong performance in the DeFi space and technical indicators pointing towards further growth, Solana could be poised for significant gains in the future. Additionally, opportunities in meme coin presales such as Flockerz offer alternative avenues for potential returns, albeit with higher risk. As always, individuals should approach the cryptocurrency market with caution and conduct their own due diligence before making investment decisions.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room October 16, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Al Jazeera Media Institute receives two Stevie Awards
Next Article NZD/USD falls to around 0.6050 as yearly inflation falls within RBNZ’s target range
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World June 28, 2025

You Might also Like

Crypto

Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide

May 22, 2025
BusinessCrypto

Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025

May 20, 2025
BusinessCrypto

RWA project FEXSE tokenises $600,000 Jacob & Co. luxury watch on the blockchain

April 14, 2025
BusinessCrypto

Forbes Lists Bitget Amongst The World’s Most Trustworthy Crypto Exchanges

February 1, 2025
BusinessCrypto

Bitget Leverages AI Algorithms for Token Listing with the Launch of Bitget Seed

January 27, 2025
BusinessCrypto

Bitget to List Official TRUMP Meme Token for Spot Trading

January 23, 2025
BusinessCrypto

Bitget LaunchX to Support Jambo’s $5 Million Fundraising for Satellite Launch Program

January 18, 2025
BusinessCrypto

Bitget Unveils Over $5 Billion Worth of BGB Token Burn in New Whitepaper

December 28, 2024
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?