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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

A widely followed analyst is leaning bullish on Solana (SOL) over the long term amid an upcoming upgrade. In a new video, the analyst pseudonymously known as InvestAnswers tells his 563,000 YouTube subscribers that a proposal to reduce Solana’s inflation rate by around 80% at the end of Epoch 755 heightens Solana’s bullish prospects. An Epoch is a fixed period during which certain network activities such as governance matters, protocol upgrades, and other related matters are decided and executed. At the same time, InvestAnswers says the bullish thesis for the sixth-largest crypto asset by market cap is further improved if the U.S. Securities and Exchange Commission (SEC) approves a spot Solana exchange-traded fund (ETF). “…they’re coming up with this vote to reduce inflation on Solana, which currently is not that bad at all. But that will reduce inflation from about 4.8% down to about 0.86% inflation. If it passes, if it passes and it’s l...

The Solana price jumped more than 2% in the last 24 hours to trade at $187.48 as of 9:59 p.m. EST as investors slowly start to buy into the altcoin again. Despite the recent uptick, the SOL price is still down more than 6% on the 7-day time frame. Solana Price Forms A Negative Channel On The Daily Chart Daily chart for SOL/USD (Source: GeckoTerminal) A negative price channel has formed on the daily chart for the Solana price after the altcoin printed a series of lower lows and lower highs over the last couple of weeks. Should the crypto continue to trade within this negative range, it could soon test the immediate support level at $174.93. A break below this point might then lead to a plunge to as low as $158.13. This bearish thesis could be invalidated if the Solana price is able to break above the $194.41 resistance level, which is also confluent with the upper boundary of the bearish price channel. A daily candle close above this mark might then give SOL the room needed to k...

Solana, one of the leading crypto coins ruling the space at the moment, is back on track. The token is gaining considerable market momentum again after dropping to $143 last week. The bullish onset of the market, coupled with the thriving network activity, has borne fruit for SOL, helping the token trade at $151. Per several analytical platforms, Solana may yet again deliver a stellar price rise this week, which may assist the token in ascending to new price highs.  Also Read: Solana: Here’s When SOL Can Reclaim Its All-time High of $250 Solana Weekend Price Prediction  Source: analyticsinsight.net According to CoinCodex, Solana may note a modest price surge this week, adding 0.85% valuation to its price. The token may be exchanged at $153.42 or $153.78 by May 13. Similarly, SOL could gain a shy uptick of 0.94% by May 17.  BREAKING: $SOL RECLAIMS $150 pic.twitter.com/lrMuyd5nu0 — DEGEN NEWS ️ (@DegenerateNews) May 9, 2024 “The Solana price foreca...

Solana engineers have confirmed that the ecosystem’s mainnet has suffered its first major outage of 2024. An incident report confirmed on Tuesday that “Engineers from across the ecosystem are investigating an outage on mainnet-beta.” According to Solana blockchain trackers, blocks were last processed at just before 10:00 UTC. Read more: Jupiter’s massive insider allocation of Solana airdrop JUP “Block progression is currently halted, core engineers and validators are actively investigating,” added Solana validator Laine via X (formerly Twitter). Following the news of the Solana mainnet outage, its SOL token fell 2% to $94 . According to Solana’s status page, this is the mainnet’s first major outage since February last year when it reportedly suffered disruption lasting nearly 19 hours. Got a tip? Send us an email or ProtonMail. For more informed news, follow us on X,  Instagram ,  Bluesky , and  Google News , or subscribe to our  Y...

For the first time in six weeks, institutions have bought more crypto than the amount SOL d. After registering outflows for 1.5 months, crypto asset investment products registered positive flows for the first time last week. CoinShares’ latest weekly report highlighted that the inflows were worth around $21 million. Chalking out the reason for the trend flip, the report highlighted, “We believe the inflows are a reaction to a combination of positive price momentum, fears over U.S. government debt prices and the recent quagmire over government funding.” Source: CoinShares Also Read: Crypto: After Coinbase, Singapore grants MPI License to Sygnum Bitcoin and Solana were the biggest beneficiaries. Bitcoin inflows summed up to $20 million last week, while Solana ’s number flashed a value of $5.1 million. The report brought to light, “Solana continues to shine, with inflows of US$5m, marking its 27th week of inflows and just 4 weeks of outflows th...