Logo
Cardano Ecosystem

CMNnews

11/13/2021

·

393 views


Solana (SOL) Price Forecast November 07, 2021 – Daily News | Technical Analysis | Price Prediction By CMN

Currently, Solana (SOL) price is $253.498 with a market capitalization of $76,455,661,971, putting it in a commendable position of the global cryptocurrency rankings. The Solana blockchain is considered an efficient, secure, fast, censorship-resistant, and highly automated system that supports global...

Solana (SOL) Price Forecast November 07, 2021 – Daily News | Technical Analysis | Price Prediction By CMN

Currently, Solana (SOL) price is $253.498 with a market capitalization of $76,455,661,971, putting it in a commendable position of the global cryptocurrency rankings.

The Solana blockchain is considered an efficient, secure, fast, censorship-resistant, and highly automated system that supports global adoption. Decentralizing the network by providing computing resources to validate transactions or storing redundant ledge data is the mission of the validator.

History of Solana

Anatoly Yakovenko, the founder of Solana, published a whitepaper draft detailing a new timekeeping method for distributed systems dubbed Proof of History (PoH) in late 2017. The inability to reach consensus on transaction order is one of the limitations of bitcoin and ethereum blockchains, In Anatoly’s opinion, his new methodology could automate the transaction ordering process for blockchains. This was a major component of enabling crypto networks to grow beyond their capabilities at the time.

Also Read: Burger King partners with Robinhood

Solana (SOL) price prediction

Currently, there is a level of resistance at $ 267.265, the next resistance will be $276.055, and a strong support level will be $ 217.376 and afterward $ 242.283.

If Solana (SOL) price fails to break through this resistance level, the price may retest the current support levels before further descending to the next support level of $242.283. A break of this level may lead Bitcoin to move down further to $ 226.089.

It’s apparent that Solana (SOL) price is likely to move downwards from its current level, with bearish indicators showing. The Solana price will likely move down towards $ 226.089 in the near future.

Solana Recent updates

1.     What is Solana’s Competitive Advantage over Ethereum?

Essentially, Solana provides the same utilities. Developers can even build Dapps and smart contracts more quickly and less expensively using it. The fact that Solana has been included in the league of ‘Ethereum killers’ is not surprising. The term is used to describe the possibility that Solana could eventually replace Ethereum.

2.      New all-time high set by Solana on Cardano:

To make it to the top five cryptocurrencies by market cap, Solana has surpassed Cardano. At the time of this writing, Solana has set a new all-time high of $ 253. By market capitalization, Solana has experienced an increase of 11% over the past 24 hours, making it the top performer among top ten cryptocurrencies.

AD

World’s First Multi-Token ISPO — By Genius X - Starts on 12th of September, epoch 363!

Genius X, a revolutionary launchpad and business accelerator helping Web3 startups attain speed, scale, and edge, is thrilled to announce the world’s first Multi-Token ISPO.I WANT TO KNOW MORE!


Read Original Article on CMNnews

ORIGINAL SOURCE

https://www.cmnnews.live/solana-sol-pric...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


NotifyLog - One stop tool for events tracking and analytics

More from CMNnews

See more
Inteligência artificial aposta em cinco criptomoedas que podem fechar janeiro em alta
CMNnews
Inteligência artificial aposta em cinco criptomoedas que podem fechar janeiro em alta

01/15/2023

·

38 views

Related News

See more
WingRiders Governance Token

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)
NotifyLog - One stop tool for events tracking and analyticsWorld’s First Multi-Token ISPO — By Genius X