SOL & ALGO Holders Accumulate Rollblock, As BTC Falls 5% Due To MT. GOX Repayments
The post SOL & ALGO Holders Accumulate Rollblock, As BTC Falls 5% Due To MT. GOX Repayments appeared on BitcoinEthereumNews.com.
It has been a week of crypto whiplash! Mt. Gox’s long-awaited $9 billion repayment to creditors has sent shockwaves that saw the BTC price tumbling by 5%. But while investors and whales scramble for a cover, Solana and Algorand maxis are quietly accumulating a new promising token, Rollblock. The new gravity-defying presale star has been turning heads after soaring a staggering 40% while Algorand and Solana prices crater. But why are analysts whispering about a potential price explosion? Let’s find out! BTC Price Bloodbath: A Buying Opportunity, or Time for Greener Pasture? Fear and uncertainty once again gripped the crypto world as news broke of a massive Bitcoin exodus from Mt. Gox repayment. Over $9BN worth of Bitcoin in the once-dominant exchange’s cold wallet has been trickling out in batches. Unfortunately, the massive supply influx has sent shivers down investors’ spines after triggering a sharp decline in BTC price. Data from Coinmarketcap shows BTC price is still hovering around the $60k mark after shedding 11% of its value this month. Market analysts have identified the move as a harbinger of a deeper downturn instead of a golden opportunity to buy at a discount. Consequently, Bitcoin backers are already emulating the Solana and Algorand investors searching for a haven. Solana Price Analysis: SOL Drops Under Regulatory Scrutiny Despite its excellent rally in the year’s first quarter, the Solana price has been facing strong headwinds. Following Bitcoin’s woeful performance earlier this week, Solana’s price has dived by over 35% from its $210 Q1 2024 high. It is currently trading at $135 after recording another disappointing monthly downtrend. Although analyst Raol Pal thinks it’s an excellent time to ape in on Solana, the ongoing legal scrutiny from the US SEC casts a shadow. Solana investors have grown weary and are flocking to Rollblock’s…
Filed under: News - @ June 29, 2024 2:12 pm