SOL Still Struggling Below the $200 Mark, Community Turns Attention Towards a New Hybrid Layer 2 Project

Solana (SOL) is still struggling to stay above $200, with bearish indicators and weak momentum keeping the price in check. Concerns over scams have also sparked debates about the network’s future.

While Solana faces uncertainty, PlutoChain ($PLUTO) is tackling a different problem—Bitcoin’s lack of use cases. This hybrid Layer-2 project could improve block times, reduce fees, and bring DeFi to Bitcoin. 

Let’s take a closer look at the details…

SOL Price Drops 13% in 30 Days—What’s Next for Investors?

Solana (SOL) has been stuck below $200, dropping 13% over the past month as bearish indicators signal weak momentum. The Ichimoku Cloud and ADX both suggest ongoing struggles, with SOL unable to hold key resistance levels. 

If buyers step in and push SOL past $209, a move to $219 or even $244 could follow. But if SOL falls below $187, the next stop could be $175.

Some analysts remain cautious, pointing to Solana’s weak trend strength and ongoing concerns about scams.

However, according to analysts on X, Solana’s long-term outlook still shows strength despite recent struggles. CryptoTicker highlighted the launch of ARKA, a prediction market platform built on Solana, which could fuel demand for SOL.

Some believe this expansion could push SOL’s price toward $750, especially as high-profile projects continue to launch on the network. 

Could PlutoChain Make Bitcoin More Practical for Everyday Use?

Bitcoin is known for its security and decentralization, but it struggles with slow transactions and high fees. PlutoChain ($PLUTO) may solve this with a hybrid Layer-2 solution that could make Bitcoin faster, cheaper, and more practical for daily use.

PlutoChain introduces Ethereum Virtual Machine (EVM) compatibility, which could allow developers to bring DeFi, NFTs, and AI-powered applications to Bitcoin. 

What’s more, Bitcoin’s 10-minute block confirmations make it way too slow to compete with modern payment systems. PlutoChain takes a different approach. As a hybrid Layer-2 solution, it runs on its own high-speed network, processing blocks in just two seconds. 

That kind of speed could make a huge difference for anyone who actually wants to use Bitcoin for payments instead of just holding it.

PlutoChain also puts a strong focus on security. It has already completed audits with SolidProof, QuillAudits, and Assure DeFi, which confirm its reliability. It does not rely solely on miners and developers for upgrades. Instead, it gives the community control and lets them propose and vote on network improvements.

Tests have already shown PlutoChain processing over 43,200 transactions per day. Bitcoin’s DeFi market remains small, at just 0.13% of its total market cap, but PlutoChain could change that and open new opportunities for the network.

Closing Words

Solana is still struggling below $200, and technical indicators show weak momentum. Some analysts believe a breakout above $209 could lead to higher prices, while others remain cautious. Until confidence returns, SOL may continue facing resistance.

Meanwhile, PlutoChain offers a new approach to blockchain efficiency. It could potentially speed up Bitcoin transactions, lower fees, and introduce DeFi features. 

If it delivers on its vision, it may change how people interact with Bitcoin, expanding tis ecosystem and case uses.

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Please remember that this article is purely informational and not financial advice. Any and all cryptocurrencies are volatile, with prices prone to rapid changes. Always do your own research and consult an expert before joining any crypto venture. We are not liable for any outcomes based on the information in this article. Statements about the future entail risks and may not reflect updates.