Solana Could Face A 41% Crash, Warns Mechanism Capital Co-Founder
Andrew Kang, co-founder of Mechanism Capital, voiced concerns over the potential volatility and impending price correction of Solana (SOL) in a market analysis posted on X. His comments come amid a broader dialogue concerning the delayed second wave of US spot Bitcoin ETFs, which he now anticipates could be pushed back by one to two quarters. He states, “I believe the timeline for this is delayed by 1-2 quarters. Some market views. Experts now suggest that solicitation approval/ETFs added to wealth management platforms is slated for Q4 instead of late May as originally suggested.” He....
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Solana (SOL) has had a turbulent time lately evident with a consistent decline in its market price. According to data from CoinMarketCap, the “Ethereum Killer” is down by 6.36% on its weekly chart, emerging as the biggest loser among the top 10 tokens. Interestingly, this price dip depicts the larger negative performance of SOL in which it has lost 24.61% of its value in the last month. However, amidst this mayhem, the Solana network has hit a significant milestone which may spark some excitement for investors. Related Reading: Solana Could Face A 41% Crash, Warns Mechanism Capital....
Bitcoin (BTC), the leading cryptocurrency, has regained momentum, bouncing off a weekly low of $64,000 to find support above $65,000, halting last week’s downtrend. This price recovery may be due to another significant investment round by business intelligence company MicroStrategy, led by Bitcoin bull Michael Saylor. The company announced on Thursday the acquisition of an additional 11,931 BTC valued at approximately $786.0 million, further solidifying its position as a major institutional holder of the digital asset. MicroStrategy’s Bitcoin Holdings Surge To Nearly $15....
In a thread shared on X, Justin Bons—Founder and Chief Investment Officer of Cyber Capital, a fund he describes as Europe’s oldest cryptocurrency fund—set out a pointed critique of the Solana blockchain. He accuses Solana of suffering from numerous flaws, including repeated network outages, centralizing pressures through demanding hardware requirements, and what he views as […]
Solana’s Breakpoint conference was a great success! Nearly everyone from the Solana ecosystem flew into Lisbon for four days of talks, workshops, and networking. Due to nearly two years of isolation and travel bans, Breakpoint was the first time many people in the Solana community managed to meet face to face. Accordingly, the atmosphere at […]
Research firm Messari published a report on the performance of 5 sectors in the crypto industry after the recent crash. Written by Roberto Talamas, the report determined that smart contracts (Solana, Cosmos, Polkadot, Kusama, and others) have been amongst the least affected by this event. Relentless selling pressure caused the main cryptocurrencies to correct by […]