• Solana [SOL] recovered strongly in the past few days, appreciating over 40% after seeing aggressive demand at the lows of $16.
• A surge beyond $27K could give bulls slight hopes of defending the crucial support while any drop below this level could push SOL to breach key support.
• Funding rate and sentiment were positive while development activity stagnated.
Solana Price Analysis
Bullish Recovery After Seeing Aggressive Demand
Solana [SOL] recovered strongly in the past few days, appreciating over 40% after seeing aggressive demand at the lows of $16 on March 10. It broke above its previous high of $21.94 but hit a price ceiling of $22.94, setting it for a retracement.
Price Action and Momentum Indicators
At press time, Bitcoin [BTC] struggled to maintain the $27K zone. Any drop below this level could push SOL to breach key support, while a surge beyond this mark could give bulls slight hopes of defending the crucial support.
Source: SOL/USDT on TradingView
SOL saw increased demand at discounted levels of $16, setting it for the first leg of recovery which however faced rejection at $21.94 sinking SOL to $19.06. The second leg brought about a bearish breaker pushing SOL beyond the bearish order block at $21.94 but hitting a price ceiling at $22.94 attracting bears who sank it to $21.27 where it oscillates currently between that and its upper range ($21-22).
Funding Rate & Sentiment Positive
According to Santiment, SOL registered positive funding rates showing bullish sentiment in derivatives market while weighted sentiment was also positive indicating investors were bullish on asset though development activity has fluctuated slightly in the past few days which might unnerve investors if BTC drops below 27K or increase if BTC increases beyond that mark respectively taking SOL down or up depending on momentum shift respectively with key supports lying southwardly around 19$, 18$ and 17$.
RSI & OBV Analysis
The Relative Strength Index (RSI) retreated from overbought territory and fluctuates slightly above midpoint 50 indicating buying pressure has eased but selling pressure still imminent while On Balance Volume (OBV) fluctuates showing unstable demand which gives bears more leverage should BTC break below 27k tipping short term bears to pull SOL down to 20 closing below 21$ else increasing upwards if BTC increases duelling 24$ and 25$ as overhead resistance points respectively with current oscillation between 21-22 suggesting indecision amongst traders amid volatile market conditions currently prevailing in crypto space overall with bullishness still prevailing albeit diminishing gradually as investor’s confidence dwindles amidst uncertain times yet again due unpredictability among institutional players including retail investors alike as they remain wary regarding their investments decisions as market volatility continues amidst ongoing pandemic situation currently prevailing globally right now.:
Solana [SOL] is trading within an indecisive zone where any move either way would depend largely upon Bitcoin’s [BTC] movements whether it breaks or sustains above or below 27K respectively further influencing other altcoins including Solana significantly due unpredictable nature of current markets fueled by uncertainty amongst institutional and retail investors alike making them cautious regarding their investment decisions pertaining cryptocurrencies involved mainly owing to volatile nature associated with digital assets presently especially during these unprecedented times caused by ongoing pandemic situation globally right now eventually .
• DigiToads is a new blockchain-based platform that allows users to collect, trade, and battle unique DigiToads using TOADS tokens.
• The platform offers multiple revenue streams including a prize pool, staking pool, and NFT staking rewards.
• 2.5% of profits are donated to charitable organizations dedicated to reforestation and the preservation of rainforests.
What is DigiToads?
DigiToads is a decentralized, blockchain-based platform that allows users to collect, trade, and battle unique DigiToads using TOADS tokens. The platform’s P2E gaming experience is designed to provide a fun and engaging experience for players while also allowing them to earn TOADS tokens through battles and tournaments. Additionally, the project pledges to support environmental causes by donating 2.5% of its profits to charitable organizations dedicated to reforestation and the preservation of rainforests.
Why DigiToads will Explode in Value
DigiToads is designed to offer multiple revenue streams for its holders. TOADS holders are continuously rewarded monthly from the prize pool, with 10% of funds raised being airdropped to them. The project’s NFT staking platform is funded through a 2% contribution to the staking pool from every TOADS transaction. NFT holders who choose to stake their NFTs earn rewards over time based on the duration of staking – creating a virtuous cycle where increased NFT staking leads to increased funds being allocated in the staking pool with higher rewards for NFT stakers as result which increases value of TOADS token providing holders with residual income.
NFT Staking Residual Income
One of the key selling points of DigiToads is the ability for NFT holders to earn residual income through staking. By choosing to stake their NFTs, NFT holders can earn rewards over time based on the duration of staking – creating an even more attractive incentive structure as more people participate in this activity which increases value of TOAD token providing holders with residual income .
Environmental Causes Supported by Digit Toads
In addition supporting environmental causes by donating 2.5 %of its profits towards charity organizations dedicated towards reforestation and conservation efforts ,also adding more green initiatives like carbon offsetting programs or renewable energy incentives could further increase awareness about it’ s cause .
Why Invest In Digi Toad
With its innovative design ,ambitious goals ,multiple revenue streams & commitment towards environment ,Digit Toad is poised take crypto world by storm in 2023 .It offers great potential & opportunity investors looking add new cryptocurrency their portfolio .
• Lido Finance just released its latest quarterly report, revealing the state of node operators.
• The number of active node operators grew from 27 in Q3 to 29 in Q4 and validators have also been working towards more network diversification and performance improvements.
• LDO token made its way into the list of the top most purchased tokens among the top 500 ETH whales, and is only down by 1.14% in the last 24 hours compared to BTC which fell by 4.6% and ETH by 4.78%.
Lido Finance released its latest quarterly report showcasing how it has been preparing for the Ethereum Shanghai upgrade and detailing its Validator And Node Operator Metrics (VaNOM). The report highlights healthy validator jurisdictional dispersion as well as positive validator growth in Q4. Additionally, LDO token was one of the top most purchased tokens among 500 ETH whales, proving resilient against a market selloff on 3 March 2021 with only a 1.14% decrease in price within 24 hours.
In Q4 there was a minor change with an increase from 27 to 29 active node operators, however validators have also been working towards increasing network diversification and performance improvements – such as at least 1000 validators on chainsafe ETH’s Lodestar – representing a 48% increase compared to the previous quarter.
The report also disclosed that most of Lido’s nodes are now dispersed across major global regions including Canada, US, Australia, Singapore South Korea and Hong Kong – allowing for decentralised governance over multiple jurisdictions that comply with local regulations.
LDO Token Popularity Among Whales
The LDO token managed to make its way into the list of top most purchased tokens among 500 ETH whales – demonstrating resilience against a market selloff on 3 March 2021 with only a 1.14% decrease in price within 24 hours compared to BTC which fell by 4.6%, or ETH which fell by 4.78%.
Overall, this quarterly update shows that despite recent market conditions Lido Finance is well-prepared for upcoming upgrades and is focusing on improving decentralised governance through increased diversity amongst node operators across multiple jurisdictions worldwide; as well as making significant progress when it comes to popularising their own token amidst whale investors who are showing confidence in their investment choice even during times of volatility.