Altcoins

Solana Inflows Reaching New Highs ! Here’s The Best Levels to Buy

news-image

Advertisement

Highlights

  • Solana NFTs are now live on the FTX marketplace. NFTs from Solana are the talk of the town.
  • Traders lookout for an entry point to grab some SOL for their portfolio.

   Solana is currently climbing back the stairs, hinting at a possible uptrend. The blockchain is in the buzz on public platforms with its NFTs. Meanwhile, according to some reports, Solana has the second most weekly inflow by institutions. Second just to Bitcoin, leaving behind the De-Fi star Ethereum.  

FTX U.S Announces Solana NFT Marketplace

With the growing NFT culture in place, NFTs from Solana are gaining all the needed traction. In addition, FTX  U.S has made announcements that it will now support a Solana NFT marketplace. By which users on the platform can mint, trade, auction, and authenticate NFTs based on Solana. While FTX U.S consumers will incur no listing fee. However, a 2% exchange fee and minting charges will have to be borne by the user.

FTX would be determined towards KYC for NFT trading on the platform. Moreover, sources suggest that 40 out of 70 verified collectibles are live on the site. Several NFTs from the Solana blockchain are making their presence felt in the space.

The Entry Point for Solana?

  SOL at press time is valuing at $159.77 with gains of ~6.4% for the past 24-hours. The trading volume stands at $1,989,140,400. The coin seems to be following an ascending triangle on the charts. We can expect a leg-up in the range of 12-14% for the short-term, marching towards its resistance at $175

On the contrary, the coin might fall to its support zones at the levels of $135 to $140. And a further retest at $125, if it loses steam. Traders can eye for an entry point at $130 to $135. Which the coin might possibly test, prior to its upward trajectory. Hence, we can expect the coin to surge upwards following consolidation. 

Collectively, SOL holds the potential to chug towards an uptrend this fourth quarter. Owing to its protocol and growing adoption. Consecutively, the announcements of Chainlink’s plan to launch on Solana Mainnet Beta in Q4 of 2021. Solana’s 3-day Breakpoint event in Lisbon being sold out. And its growing adoption might possibly propel it despite the odds.

Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Related Articles

Back to top button