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At the time of writing, Solana [SOL] has surged to its two-year high at $173 and has reignited a wave of optimism among traders.
The network has seen a significant increase in activity, partly fueled by the ongoing meme coin rally. Several tokens on the Solana blockchain are gaining traction. Decentralized exchanges (DEXs) operating on the Solana network have also reported a massive uptick in trading volumes.
Many prominent analysts have voiced their bullish outlooks following a 13% SOL price increase within the last 24 hours. As many investors are looking for the next crypto to explode amidst this positive momentum, Green Bitcoin’s presale has emerged as a promising early-stage option.
Why are traders bullish on Solana?
Popular crypto trader Bob Loukas recently shared his bullish perspective on Solana, predicting a possible surge to $250 based on the weekly SOL/USD chart analysis.
This chart revealed that Solana successfully breached and converted its resistance level of around $140 into a solid support zone. This can set the stage for a rally towards the $250 mark, just around $10 below Solana’s all-time high of nearly $260 recorded in late October 2021.
It is also worth noting that Solana’s share in the total DEX volume has remarkably increased over the past year.
Crypto analyst Tom Wan highlighted that Solana now accounts for 29% of the DEX market, a significant leap from its 1.1% share a year ago.
On the other hand, Ethereum’s dominance has slightly decreased, with its market share currently around 35%. The surge in trading activity on Solana-based DEXs can be due to the current meme coin craze on the network, sparked by massive airdrops from Pyth Network and Jupiter.
Adding to the bullish sentiment, prominent crypto analyst Byzantine General commented on Solana’s promising outlook.
In this Tweet, he noted how the leverage had actually declined while the price increased. At the same time, the price continued to rise coupled with notable buying activity from Coinbase.
Given Solana’as recent breach of the $140 resistance coupled with the 20 EMA on the daily chart looking north, near-term prospects for the coin seem bright. But it’s worth noting that any decline below this support level can delay the recovery.
Amidst this bullish wave, Green Bitcoin is another token achieving milestones in its early stages. As a presale project, GBTC has caught massive investor interest from investors looking for the next big crypto.
Green Bitcoin gains investor traction as it crosses the $4 Million milestone
Green Bitcoin ($GBTC) is a trending new eco-friendly crypto that combines Bitcoin’s principles with Ethereum’s eco-friendly PoS mechanism.
This innovative approach makes Green Bitcoin a more sustainable alternative, claiming to be 10,000 times more energy-efficient than traditional Bitcoin mining.
It recently launched its presale phase and has raised $4.2 million in just a few weeks of launch, showing massive community support.
Early buyers can grab the $GBTC tokens for only $0.9162 at press time. This price will keep increasing throughout the presale stages until the expected listing.
Green Bitcoin introduces a ‘Gamified Green Staking’ model that offers a 118% APY to early stakers at the time of writing. However, this rate will decrease as more buyers enter the staking pool.
This staking mechanism rewards users for making daily Bitcoin price predictions and offers a unique opportunity for passive income.
The total supply of tokens is capped at 21 million with 50% available to early investors during the presale. The allocation plan also includes 27.5% for staking rewards and a fair distribution for marketing and community incentives.
The Green Bitcoin whitepaper outlines a strategic roadmap for progression through presale, listings on top exchanges, and improvements to its staking and prediction systems.
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This article first appeared at crypto.news
