Solana Continues its Parabolic Rally into the New Week As Apple Rumors Fuel SOL’s Rise ⋆ ZyCrypto
The post Solana Continues its Parabolic Rally into the New Week As Apple Rumors Fuel SOL’s Rise ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Solana (SOL) closed the previous week on a bullish note and has continued its upward trend into the new week, with market data highlighting an increase in positive sentiments. According to data from Santiment, traders and investors of the Solana (SOL) coin are responsible for driving market sentiments to a staggering 9-month high. It appears that investors and traders are using social media to strengthen the asset’s position within the cryptocurrency community. As Santiment remarked, “There are currently 5.6 bullish posts for every 1 bearish post across X, Reddit, Telegram, 4Chan, and BitcoinTalk.” SOL’s current run has been observed from the previous week, as the asset notably stood out as a top weekly and weekend gainer. Last week, a handful of crypto tokens enjoyed massive Friday gains, and SOL was not exempted. On Friday, SOL reportedly began to stand out as bullish crowd sentiments intensified. Last week, while the Bitcoin and Ethereum crowd outlook remained neutral, Solana saw a 3-week high bullish sentiment spike. Advertisement   The market hype can be associated with rumors of American computer and consumer technology company Apple bustling on the Solana blockchain. Although Apple has neither confirmed nor denied these rumors, the 5th largest crypto asset by market cap has surged ever since. Broader market outlook and technical data favor bullish sentiments for Solana Predictions for Solana’s future have also been bullish, with Standard Chartered, in a new research note, asserting that SOL could overtake Bitcoin and Ether under a Trump presidency. Outlining expectations for some leading crypto assets, Geoffrey Kendrick, the head of digital assets at the bank, stated in an email that he expected a 200%, 300%, and 400% increase in 2025 for Bitcoin, Ether, and SOL, respectively. Although his expectations for Solana are bullish, he maintains that the asset is “richly…
Filed under: News - @ October 21, 2024 7:27 pm