Solana is likely to exit the bearish sentiments
The post Solana is likely to exit the bearish sentiments appeared on BitcoinEthereumNews.com. Experts are forecasting a potential turnaround in Solana’s bearish sentiment in the days ahead. Crucial indicators reveal a substantial quarter-over-quarter rise of nearly 17% in the circulating market cap, as well as in both revenue denominated in USD and SOL. Moreover, experts are reinforcing Solana’s community by shedding light on the network’s leadership in energy efficiency, solidifying its position in the field. First things first, the Q3 report from Messari depicts that there is an increase in circulating market cap and revenue in both segments. Annualized inflation has come under 6% for the first time since the third quarter of 2022. The data is true as of September 30, 2023. SOL is currently exchanging hands at $23.75. This is a slip of 1.18% in the last 24 hours. Most of it is attributable to SEC complaints against Binance and Coinbase for listing the token alongside other assets as a security. That brought the price down by 34%. It did make a comeback in the second quarter and carry forward the momentum in the following phase; however, the damage was done, and the token continues to feel that. Revenue in USD has been measured at $4 million for an increase of 18.8% on a Q-o-Q basis. The figure for the same was $3.4 million in the previous quarter. There is a lot to do before it finds safety. The same quarter in the last year had a milestone of $4.8 million. Solana inching closer to that target depicts why the network and ecosystem are poised to emerge from the bearish trend. The Solana forecast supports this to a greater extent. There is an estimate that the native token could end the current year at the mark of $48+. This positive trajectory will pave the way for the token to reach the…
The post Solana is likely to exit the bearish sentiments appeared on BitcoinEthereumNews.com.
Experts are forecasting a potential turnaround in Solana’s bearish sentiment in the days ahead. Crucial indicators reveal a substantial quarter-over-quarter rise of nearly 17% in the circulating market cap, as well as in both revenue denominated in USD and SOL. Moreover, experts are reinforcing Solana’s community by shedding light on the network’s leadership in energy efficiency, solidifying its position in the field. First things first, the Q3 report from Messari depicts that there is an increase in circulating market cap and revenue in both segments. Annualized inflation has come under 6% for the first time since the third quarter of 2022. The data is true as of September 30, 2023. SOL is currently exchanging hands at $23.75. This is a slip of 1.18% in the last 24 hours. Most of it is attributable to SEC complaints against Binance and Coinbase for listing the token alongside other assets as a security. That brought the price down by 34%. It did make a comeback in the second quarter and carry forward the momentum in the following phase; however, the damage was done, and the token continues to feel that. Revenue in USD has been measured at $4 million for an increase of 18.8% on a Q-o-Q basis. The figure for the same was $3.4 million in the previous quarter. There is a lot to do before it finds safety. The same quarter in the last year had a milestone of $4.8 million. Solana inching closer to that target depicts why the network and ecosystem are poised to emerge from the bearish trend. The Solana forecast supports this to a greater extent. There is an estimate that the native token could end the current year at the mark of $48+. This positive trajectory will pave the way for the token to reach the…
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