Solana Mobile Stack Archives - Cryptolifedigital

Solana Trader Makes Huge Profits on New Memecoin, But Liquidity Woes Loom

29Apr

By CryptolifedigitalNo Comments

Blockchain

Solana Trader Makes Huge Profits on New Memecoin, But Liquidity Woes Loom

A Solana (SOL) blockchain-based digital asset trader has sparked controversy after making a staggering 4,000% profit within just five hours. The rapid gain, achieved through the purchase of a newly launched memecoin called TORI, has triggered accusations of insider trading. Trader Makes Massive Gains on TORI Transaction data reveals that the trader invested approximately $49,000 (344 SOL) to acquire TORI shortly after its launch. The investor then proceeded to move the purchased TORI coins (261.4 million) to different addresses on April 28th. Within a mere five hours of trading, the value of the TORI tokens skyrocketed to a staggering $2.5 million. https://twitter.com/lookonchain/status/1784568174962450746?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1784568174962450746%7Ctwgr...

Solana Surges Past $150, Analyst Eyes $200 But Meme Coin Woes Linger

23Apr

By OLAJIDE SAMUELNo Comments

Blockchain

Solana Surges Past $150, Analyst Eyes $200 But Meme Coin Woes Linger

Solana (SOL) is on a roll, recently surpassing the key resistance level of $150 and exhibiting a bullish trend. This positive performance is accompanied by rising market capitalization, trading volume, and investor interest. Solana's Climb SOL currently sits at $153, reflecting a more than 2% gain in the last 24 hours. Market capitalization has grown to $68 billion, a 2.60% increase. Trading volume has surged to $2.83 billion over the past day, highlighting increased investor activity. Looking at a broader timeframe, SOL boasts a 4% uptick over the past week and a staggering 606% increase over the past year, solidifying its upward trajectory. The overall trend remains positive despite some fluctuations between $130 and $157. Analyst Predictions and Price Targets Analysts are cautiou...

Solana Eyes Post-Patch Rebound, Meme Coins and Investor Optimism Fuel Speculation

18Apr

By OLAJIDE SAMUELNo Comments

Blockchain

Solana Eyes Post-Patch Rebound, Meme Coins and Investor Optimism Fuel Speculation

Solana is back in the spotlight after deploying a patch to address network congestion issues. This move coincides with plans to transition the network from its beta phase to the final mainnet version. With these developments underway, investor sentiment appears to be turning bullish, fueled by potential benefits for Solana-based meme coins and the token's overall price trajectory. Read Also: Bitcoin Halving Looms: Crypto Market Braces for Potential Surge, Cardano (ADA) in Focus Network Improvements and Mainnet Transition Solana implemented a patch on April 15th to tackle network congestion. This aligns with the upcoming transition from the beta phase to the final mainnet version, signifying a more robust and scalable network. Additionally, the scheduled release of the Agave validator ...

Solana Shines as Top Crypto Prices Rebound

17Apr

By CryptolifedigitalNo Comments

Blockchain

Solana Shines as Top Crypto Prices Rebound

Relief washed over the cryptocurrency market today as major coins, including Solana (SOL), staged a notable comeback. While Bitcoin (BTC) hovered near the $64,000 mark and Ethereum (ETH) surpassed $3,100, Solana emerged as a top performer with a surge of over 7%. Solana Surges Past $140 SOL defied recent bearish trends, climbing 7.76% to settle comfortably above $140 at $142.59. This positive movement comes after a period of correction for Solana, but today's rebound signals renewed investor confidence. Despite the price increase, trading volume dipped slightly by 13.46% to $4.94 billion in the last 24 hours. Read Also: Ripple vs. SEC Lawsuit: Final Pretrial Conference Off, But Case Heats Up Broader Market Recovery Solana's positive performance mirrored a broader market upswing. Bit...

Solana Price Jumps After Network Update Aims to Fix Congestion Issues

15Apr

By OLAJIDE SAMUELNo Comments

Blockchain

Solana Price Jumps After Network Update Aims to Fix Congestion Issues

Solana (SOL) is poised for a rebound after its developers implemented a software update (version 1.17.31) to address network congestion issues that have plagued the blockchain in recent months. This update coincides with a 10% surge in SOL price over the past 24 hours, suggesting renewed investor confidence. Solana Update Targets Congestion The update comes in response to a significant rise in user activity, which saw transactional volumes peak at $4 billion in March, compared to an average of $500 million daily transactions in 2023. This surge, partly fueled by the meme coin frenzy, resulted in network congestion and a spike in failed transactions. Certain smart contracts were even flagging successful transactions as invalid. Read Also: Cardano Poised for Takeoff? Analyst Predicts Bu...

Solana Outage Raises Concerns About Network Scalability

11Apr

By Onche Michael ONo Comments

Blockchain

Solana Outage Raises Concerns About Network Scalability

Solana, a blockchain known for its speed and scalability, recently experienced a significant outage, leading to scrutiny and debate within the crypto community. This outage resulted in over 75% of transactions failing, sparking concerns about Solana's ability to handle high volumes of activity. Cause of the Outage: Software Limitations and Tech Debt Austin Federa, Head of Strategy at the Solana Foundation, attributed the congestion to limitations in the software system's ability to manage current traffic. He acknowledged a trade-off between prioritizing new features and essential maintenance, which has led to "tech debt" within Solana's architecture. Developers Working on Solutions to Address Congestion Despite the setback, developers are actively working on improvements. Federa assure...

Solana Price Stalemate: Bullish Flag or Bearish Whales?

3Apr

By OLAJIDE SAMUELNo Comments

Blockchain

Solana Price Stalemate: Bullish Flag or Bearish Whales?

Solana (SOL) is caught in a tug-of-war between bullish and bearish signals, leaving investors unsure how to respond. Analysis identified a bullish flag pattern for SOL, suggesting a potential price rally past $200. This technical indicator points towards a breakout following a period of consolidation. Read Also: XRP Struggles to Regain $1 Glory, Analysts Divided on April Prospects Dominant Buyers, But Whale Activity Threatens Despite a recent market-wide correction, it was discovered that buyers remain dominant for SOL. However, reports of whales transferring SOL to exchanges raise concerns about increased selling pressure shortly. The H12 swing low sits at $162.45. A drop below this level would flip the market structure to bearish. Conversely, breaking and retesting the up...

Solana Trader Turns $368 into $260,000 Riding Memecoin Wave

20Mar

By OLAJIDE SAMUELNo Comments

Blockchain

Solana Trader Turns $368 into $260,000 Riding Memecoin Wave

A lucky trader has turned a small investment into a massive windfall, highlighting the potential and volatility of the memecoin craze within the Solana ecosystem. Turning Pennies into Profits According to crypto analytics firm Lookonchain, a trader with the wallet address "5aLaR….GJXA" took a gamble on a brand new Solana memecoin called SHAD, which emerged just 24 hours prior. With a mere 2 SOL tokens (worth around $368), the trader purchased a staggering 90 million SHAD. Read Also: Shiba Inu (SHIB) Faces Downward Pressure Amidst Crypto Market Slump https://twitter.com/lookonchain/status/1769986138058662131 This bold bet paid off handsomely. As SHAD skyrocketed to its all-time high of $0.088, the trader cashed out 85.3 million SHAD, pocketing a cool 1,410 SOL – roughly $260,000 ...

Solana (SOL) Poised for Spectacular Performance in 2024: Bard’s Optimistic Outlook

10Jan

By Onche Michael ONo Comments

Blockchain

Solana (SOL) Poised for Spectacular Performance in 2024: Bard’s Optimistic Outlook

The highly anticipated Bitcoin halving event in April has set the crypto world abuzz with speculation, and Google's AI-powered chatbot, Bard, shares its insights on how this could impact Solana (SOL), showcasing a bullish stance on the altcoin's potential. Bard acknowledges the challenge of pinpointing exact prices but underscores the transformative impact a soaring Bitcoin, potentially reaching $200,000 post-halving, could have on the overall crypto market. If Bitcoin experiences such a surge, Bard envisions a bullish market sentiment that could fuel widespread adoption and drive demand for innovative platforms like Solana. Read Also: Shiba Inu's Journey: Navigating the Cryptocurrency Landscape Towards 2030 Solana's Strengths as a Leading Blockchain Powerhouse Bard's optimism is g...

Solana (SOL) Poised to Surpass Altcoin Peers in 2024 Bull Run

2Jan

By Daniel AbangNo Comments

Cryptocurrency

Solana (SOL) Poised to Surpass Altcoin Peers in 2024 Bull Run

As the crypto community eagerly anticipates the 2024 bull run, discussions and speculations are rife about which cryptocurrency will emerge as the frontrunner in the coming year. While Bitcoin (BTC) remains the reigning king, a notable narrative is gaining traction—Solana (SOL) could potentially lead the charge and become the biggest altcoin in 2024, according to insights from OpenAI's ChatGPT. Read Also: ChatGPT Expresses Bullish Towards Solana. Here's Why Despite the recent dip in Solana's price below $100, ChatGPT remains bullish on the altcoin's future. The AI model asserts that Solana is on track to surpass all other altcoins in 2024, citing its innovative technology and widespread adoption as key factors contributing to its anticipated dominance. Solana distinguishes itself i...