After a steep drop, the crypto space is trying very hard to rebound with a notable margin.
SOL Ecosystem is booming as related coins SBR, RAY, SRM and SLIM recently hit new ATH.
The Crypto space witnessed a massive drop in the recent past that resulted in a notable loss for most of the assets. The BTC dropped by $7000 within 2 hours. And major altcoins like ETH, XRP, ADA are losing value in double digits and trying hard to find strong support zones.
Meanwhile, SOL outperformed most of the altcoins. With a slight pullback, SOL is now trying hard to rebound at $200. With SOL, its related coins SBR, SRM, SLIM, and RAY hit new ATH. SOL and its related coins are ruling the crypto market from the past week.
SBR has experienced massive profits in the last few days. The price spiked by 358% from $0.2786 to $1.0049 on September 11th, 2021. SBR attempts to hit $1.5 went in vain as bears overtook the market. Yet the asset appears to propel high despite the rise in the bear market sentiments. SBR formed a strong support zone between $0.542 and $0.723. If the price breaks between that level, then possible SBR would surpass the $2 mark soon.
The Serum responded well to the market crash, recording ATH $12.81 on September 9th, 2021. SRM price appears to be more stable compared to other prominent assets. After an intense rally in the first quarter of 2021, the price dropped by 300% from $11.7 to $3.8 on 23rd May 2021. However, the price recovered soon, and in the recent market crash, it didn’t fall for a pray. The SRM price is now looking for a strong zone around the $10 mark. A notable break from there, post-consolidation, a $20 mark would become imminent.
SLIM is a decentralized platform built on the SOL chain. The network aims to offer decentralized fundraising, time-weighted token staking, and governance voting. The SLIM price gained massive profits in the first week of this month. The price surged by 500% from $0.5767 to hit ATH $4.05 on 7th September 2021. Woefully, the recent market crash stumbled the price to $2.659. Yet the token bounced back perfectly, now it is forming a crucial support zone between $3.5 and $4. Currently, it is important for the price to consolidate to rise further.
RAY price amazed the crypto market with exceptional spikes that faded later. With the study rise, the RAY price hit ATH $15.88 on 5th May 2021. The Mid-May market collapse affected the RAY price to a larger extent until August. With the boost to the SOL price in mid-August, RAY gained massive profits surged by 300% from $4.96 to $15.54 on 9th September. However, at present, the price is retesting at $13 and a bounce could bring a drastic change in price further.
Overall, SOL ecosystem coins are flourishing to new highs. As many other prominent altcoins are recovering their losses. If the same trend continues further, then that day is not distinct where-in the Solana-based assets make their way to the top 20.