As Solana (SOL) outpaces Ethereum in revenue generation, the crypto community is igniting murmurs about whether SOL could reach $500. With its price still lingering below the $200 line, can Solana reach this price prediction amidst new market trends?
In other news, the new altcoin JetBolt (JBOLT) is picking up steam with its presale that has already sold over 320 million tokens since its debut. This young crypto is gaining traction in the market, showcasing its blockchain innovation of zero-gas technology and other thrilling attributes.
What are the factors that can help Solana reach the coveted $500 mark? And what’s the climbing whale activity with JetBolt? Read on to find out.
Solana Price Prediction: Can Solana Break $500?
Solana (SOL) is trading at $194.63 today, with a reported 3.55% decline in the last 24 hours and a 5.86% downturn over the past week. Despite the dips, SOL increased by 4.91% this month. After falling back below the $200 line, can Solana navigate its course and break $500?
According to analysts, one of the factors causing Solana’s current bearish momentum is the upcoming unleashing of 15.7 million SOL tokens worth $3 billion in the next three months. Adding a large portion of SOL tokens to the market could negatively affect its prices. Traders are now cautious since they fear that the demand for SOL may not meet a coin’s increasing circulating supply, as exhibited by other altcoins in the past.
Chart illustrating Solana (SOL)’s price fluctuations in the last thirty days, according to CoinMarketCap.
On the flip side, SOL outperformed Ethereum in revenue based on the data provided by DeFiLlama. According to the TVL aggregator, SOL recorded more than $8.4 million in revenue, overtaking ETH’s data of $875,571 as of February 10.
Unfortunately, a highly recorded revenue isn’t enough to push SOL towards the $500 price prediction. SOL must surpass its major resistance levels, acquire the exchange-traded funds (ETF) approval, and ride on bullish market momentum. However, market volatility, network outages, and technical shortcomings could challenge SOL’s growth.
While attaining $500 is unlikely at the moment, analysts are optimistic that Solana could reach this ambitious mark in the long run if the overall market condition favors SOL.
JetBolt Whale Activity: Over 320 Million JBOLT Tokens Sold
JetBolt (JBOLT) is on the brink of stardom with its new presale milestone of selling over 320 million tokens. Built on the Skale Network, JetBolt features a core solution of zero-gas technology that annihilates gas fees in blockchain transactions.
Apart from zero-gas transfers, JetBolt adapts the advanced power of artificial intelligence (AI) into its blockchain ecosystem with its use of an AI-driven tool. This AI news aggregator provides crypto news and stories sorted based on bullish or bearish market sentiment.
Other than that, JetBolt has an integrated Web3 wallet that introduces self-custodial features without relying on third parties. Its wallet system offers biometric and facial authentication for a trouble-free transaction experience, even for beginners.
Moreover, JetBolt’s Proof of Attendance and Worth protocol lets users gain more rewards by logging in daily, staking their tokens, and connecting with other users on the platform. This feature aims to fuel engagement on the platform aside from the usual staking process.
Meanwhile, early adopters can acquire up to 25% of additional tokens through their purchase of Alpha Box packages or batch token deals. Besides bonus tokens, JetBolt’s token price increases daily, which could give early buyers an edge ahead of its official launch.
Its zero-gas technology, sleek Web3 wallet, and intuitive rewarding staking system are behind JetBolt’s increasing whale activity.
Quick Recap: Can SOL Reach $500 Amidst New Market Trends and JetBolt Whale Activity
Solana reaching $500 is improbable at the moment, as the coin is currently experiencing bearish sentiment. However, if the market condition favors Solana along with other macroeconomic factors, the coin could hit the ambitious mark in the long run.
Meanwhile, JetBolt (JBOLT) is gaining momentum in its whale activity after surpassing 320 million tokens sold. This young token features zero-gas technology, a Web3 wallet system, and an AI news aggregation tool, attracting the attention of many buyers and whales alike.
Know more about JetBolt by visiting its official website and X page today.
This piece does not provide any trading and financial advice. Nothing in cryptocurrency is guaranteed– crypto prices adjust without warning and the crypto market shifts often. Please conduct your own research prior to acquiring any cryptocurrency. Trade smartly.
