SOL, the native token of the Solana blockchain, slumped below $10 for the primary time since February 2021 on Wednesday, dropping 10% intra-day and lengthening its losses because the abrupt collapse of Sam Bankman Fried’s seemingly corrupt FTX/Alameda crypto empire in early November to roughly 70%. Worth predictions thus stay extremely pessimistic.
Why is SOL dumping?
The collapse comes amid a continued stream of adverse tales surrounding the Solana crypto ecosystem, in addition to the continuing FTX saga. Two of Solana’s prime non-fungible token (NFT) tasks, DeGods and y00ts, lately introduced that they’re leaping ship to construct on the Ethereum and Polygon blockchains.
In the meantime, blockchain watchers identified on Wednesday that Alameda wallets have develop into energetic as soon as once more, just some days after Sam Bankman-Fried was launched from jail on bail. ERC-20 tokens are being dumped and funds are being moved into blue chip cryptocurrencies like ETH, BTC and USDT, with some funds transferring by way of transaction vacation spot obscuring immediate exchangers.
Twitter customers have unsurprisingly been speculating that Sam Bankman-Fried is behind the dumping of tokens and merchants are speculating that SOL tokens may additionally be getting dumped. Sam Bankman Fried was a giant promoter and backer of the Solana blockchain and is assumed by some to have artificially boosted the value of SOL.
Worth Prediction – Can SOL Hit $3?
SOL/USD’s newest drop under current lows within the $11 space and below the psychologically necessary $10 degree has opened the door to an extra cascade of promoting that would see the token take a look at key long-term help at round $5.20 within the type of the August 2020 highs. If the token dropped under this degree, that would open the door to an extra decline to the $2.50 steadiness space.
Altcoins to Contemplate
With broader cryptocurrency markets having carried out poorly in current weeks, buyers could also be seeking to diversify their holdings with the pre-sale tokens of promising, up-and-coming cryptocurrency tasks.
FightOut (FGHT) – Presale Launches
FightOut, a brand-new move-to-earn (M2E) health utility and health club chain that seeks to convey the health way of life into web3, has opened its pre-sale and buyers assume the undertaking may remodel the present web3 M2E panorama. Whereas present M2E purposes reminiscent of STEPN solely observe steps and require costly non-fungible token (NFT) buy-ins to participate, FightOut takes a extra holistic method to monitoring and rewarding its customers for his or her train and exercise, and doesn’t require any costly buy-ins to participate.
FightOut’s FGHT tokens are at present promoting for 60.06 per 1 USDT, and buyers are inspired to maneuver quick to safe their tokens, with the pre-sale having already raised almost $2.6 million in just some days. FGHT is the token that may energy the FightOut crypto ecosystem.
Sprint 2 Commerce (D2T) – Presale Enters Remaining Stage
These involved in investing in a promising crypto buying and selling platform start-up ought to look no additional than Sprint 2 Commerce. The up-and-coming analytics and social buying and selling platform hopes to take the crypto buying and selling area by storm with its host of distinctive options.
These embrace buying and selling alerts, social sentiment and on-chain indicators, a pre-sale token scoring system, a token itemizing alert system and a method back-testing device. Sprint 2 Commerce’s ecosystem can be powered by the D2T token, which customers might want to purchase and maintain as a way to entry the platform’s options.
Sprint 2 Commerce is at present conducting a token pre-sale at extremely discounted charges and gross sales lately surpassed $11.2 million. The pre-sale dashboard goes to be launched quickly, with the event group at present operating forward of schedule. Tokens are at present promoting for $0.0533 every and can be listed on a number of centralized exchanges in below one month.
Calvaria (RIA) – Remaining Presale Stage Now
Main blockchain-based video games like Axie Infinity misplaced important traction in 2022. In consequence, many buyers within the crypto gaming area are searching for different avenues. Calvaria, an up-and-coming play-to-earn battle card crypto recreation, might be a very good different. Calvaria seeks to spice up crypto adoption by making a bridge between the true world and crypto, a enjoyable and accessible crypto recreation.
Traders ought to think about Calvaria’s RIA token pre-sale. Calvaria has now raised $2.6million, with a crypto whale scooping up $97.5K in a single buy earlier this month. The presale is within the closing stage, with solely 20% of tokens left.
