The post Solana Price Up Over 35% in a Week – Is $40 Incoming as TG Casino Token Hits $1.4m appeared first on Coinpedia Fintech News

Solana (SOL) has been on an impressive run over the past seven days, with the token’s price rising over 35% to the $32 level. This momentum shows no signs of slowing down either – with many analysts now predicting Solana could soon retest the $40 mark. Meanwhile, exciting new projects like TG.Casino (TGC) are also making waves, having recently hit the $1.4 million mark in its ongoing presale event.

Solana Rallies Above $28 Resistance as Bullish Momentum Continues

Solana’s bullish momentum comes after the price broke above the critical resistance level at $28, which capped the token back in July.

The token’s recent pump has now fully retraced the sharp crash that occurred in November 2022 following FTX’s collapse.

Analysts cite renewed investor interest in Solana as a key driver of the latest rally, with trading volumes hitting $1.7 billion this week – their highest in over 100 days.

Solana’s network activity also looks healthy, with the Total Value Locked (TVL) metric reaching a yearly high of $380 million.

With most traders still showcasing a bullish sentiment, the path of least resistance for SOL is to the upside.

Additionally, with the Crypto Fear & Greed Index sitting at 71, its highest in almost two years, Solana is also benefiting from renewed momentum across the broader market.

Despite trading 87% below its all-time high, this confluence of positive factors suggests a more optimistic short-term outlook for the token.

Traders Eye $40 Target Before End of 2023 as Interest in SOL Grows

With Solana gaining strong momentum in recent weeks, many analysts believe the $40 level is within reach before 2023 is over.

The optimism stems from growing institutional interest in SOL, as evidenced by a CoinShares report that showed $15.5 million in inflows into Solana investment products last week – the most of any altcoin.

These inflows come amid anticipation of a spot BTC ETF approval in the US, which could unlock a wave of institutional capital into the crypto space.

While inflows remain below the levels seen in the past, the interest shows Solana is on the radar of major investors.

With on-chain activity looking healthy and Solana development continuing rapidly, hitting the $40 target is feasible in the coming weeks.

If Bitcoin’s rally persists and macro conditions stay positive, Solana is likely to maintain its upward trajectory through the year’s final months.

TGC Token Also Bullish, Presale Offers Exposure to Explosive Crypto Gambling Market

As Solana and the broader crypto market build momentum, one exciting new token flying under the radar is TG.Casino (TGC).

This project aims to disrupt the $250 million crypto gambling space by creating the first licensed casino and sportsbook directly integrated into Telegram.

With no KYC and anonymous instant play, TG.Casino provides a frictionless and secure gaming experience by leveraging Telegram’s encryption and enormous user base.

The platform is powered by the native TGC token, currently on presale for $0.1375 – expected to be a discount to its eventual exchange listing price.

Holding TGC offers numerous benefits, such as staking rewards of up to 343% APY and access to exclusive games.

As outlined in the project’s whitepaper, TG.Casino also implements a buyback and burn mechanism, whereby a portion of the casino’s profits will be used to purchase TGC from the open market and then burn them – reducing the circulating supply.

With a full gaming license from Gaming Curacao and a smart contract audit from Coinsult, TG.Casino checks the right boxes in terms of transparency and security.

For those looking to diversify beyond Solana, TGC could be an exciting option to gain exposure to the future of crypto gambling.

Prospective investors can buy TGC tokens through the official TG.Casino website using ETH or USDT.

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Filed under: Bitcoin - @ October 26, 2023 5:02 pm