Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Solana Price Prediction Today (24th January 2025)

The post Solana Price Prediction Today (24th January 2025) appeared first on Coinpedia Fintech News The cryptocurrency market has achieved another huge milestone as Donald Trump, President of the United States of America has signed a crypto executive order. Following this, the Bitcoin price reclaimed the $105,000 with top altcoins experiencing a similar action. With this, the Solana price has maintained its positive price action and has added over 30% to its valuation this month. With the rising bullish sentiment and a highly anticipated Solana ETF, will the SOL price reach $500? In this article, CoinPedia brings you the possible short-term Solana price analysis. Trump Coin Impact On Solana Network As per the latest update, the team behind the Trump memecoin has increased their holding in Solana. This highlights an increase in the positive influence of the altcoin in the crypto space. Furthermore, this also indicates an increase in the stability of the Trump coin project. However, top investors are raising concern as the increasing activity on the SOL chain is resulting in it experiencing a Solana Network congestion. Considering the historic market sentiments, this could impact the ecosystem on a major level that could pull the price of its native token in the long run. Solana Price Analysis For This Week The SOL price has added 5.66% to its valuation in the last 24 hours with a trading volume of $9.692 billion, a change of +8.04%. Moreover, it has maintained its positive action by jumping 22.91% over the last seven days and 38.75% this year. TradingView: SOL/USDT The Simple Moving Average (SMA) constantly supports the Solana price chart in the daily time frame. This suggests an increase in the buying-over-selling pressure for the altcoin in the crypto market. Moreover, the RSI indicator continues hovering around the overbought range with its average trendline acting as support. This suggests that the altcoin may continue gaining value this month. Will SOL Price Reach $300? If the bullish sentiment sustains, the Solana price will retest its resistance level of $270. Furthermore, if the positive influence intensifies, this could result in it heading toward its immediate target price of $300 this month. Conversely, if the bears regain momentum, the SOL coin price will drop toward its support level of $237.50. Moreover, if the bulls fail to regain momentum at that point, this could result in it plunging toward its lower support level of $210 in the coming time. Will the SOL price regain momentum and reach $500 this altcoin season or plunge toward a new 52-week low? Find out the long-term possibilities today with CoinPedia’s Solana Price Prediction ! FAQs Why Solana is falling? Amid the increased Solana Network congestion issue, its native token SOL coin has experienced a significant pullback in its valuation this week. How much is SOL worth today? With a 24-hour trading volume of $9.662 billion, the Solana price is at $263.87 . Why Solana is better than Ethereum? With a major advantage of transaction speed when compared to Ethereum, the Solana ecosystem has gained significant attention in the crypto space. Why Solana will overtake Ethereum? Considering the historic price performance of Solana, it has a high capacity to challenge the dominance of Ethereum by the end of this decade. CoinOtag

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How to Discover New Cryptocurrencies to Invest In

It can be very overwhelming to find new cryptocurrencies to invest in other than Bitcoin and Ethereum . The crypto market is so huge, and at the same pace, it’s growing. To beginners, this area requires an understanding of how different it is from traditional investments. Success here comes from knowing where to look for information and how to evaluate new opportunities. Key Considerations Before Investing Before getting into new cryptocurrencies, consider these questions: Where does cryptocurrency fit into the bigger picture of your portfolio? Is cryptocurrency a good long-term investment? Should you invest in Initial Coin Offerings? Is it worth investing in NFTs? What is DeFi, and are there investment opportunities there? The crypto market is confusing. Scams and a lack of standardized valuation criteria send investors running for cover. Adding cryptocurrencies to a portfolio, however, can add diversity and high growth potential. Where to Find New Cryptocurrencies You can explore various platforms and tools to discover emerging cryptocurrencies: Cryptocurrency Exchanges Platforms like Binance , Coinbase , Crypto.com , and Kraken are great starting points. Most major exchanges list new coins as they launch. Some exchanges, like Coinbase, require an account to access detailed information about new cryptocurrencies. Data Aggregators Data aggregators provide up-to-date crypto information: CoinMarketCap : Lists new coins along with prices, market caps, and trading volumes. CoinGecko : Offers similar features to help you analyze coins. Social Media Social platforms provide real-time updates on crypto trends: X (formerly Twitter) : Follow developers and projects for updates on new coins. Telegram : Join crypto-related groups for direct communication with project teams. Discord : Many projects maintain servers for announcements and discussions. Specialized Tools Use tools to analyze and verify cryptocurrencies: KryptView : Research tokens by name or address. TokenSniffer : Provides audits of coins, highlighting potential risks. BSCCheck : Examines tokens on the Binance Smart Chain. Websites Explore reputable websites for crypto news and insights: Trading View Top ICO List DEX Screener Decentralized Finance (DeFi) Platforms DeFi platforms like Uniswap , Aave , and Maker allow users to engage in peer-to-peer transactions, lending, and borrowing. Many have native tokens that power their ecosystems. NFT Marketplaces NFTs are digital ownership of assets. New NFTs are listed on platforms such as OpenSea and Rarible. Specialized marketplaces like NBA TopShot sell to niche audiences. Initial Coin Offerings (ICOs) ICOs raise funds for new projects. While fewer exist today due to stricter regulations, some opportunities remain. Always check if the ICO is registered with regulatory agencies. Exchange-Traded Funds (ETFs) ETFs offer indirect exposure to cryptocurrencies. For instance, the Bitcoin Spot ETFs approved in 2024 allow investors to purchase shares in funds that hold cryptocurrencies. Evaluating New Cryptocurrencies Once you identify potential investments, analyze them carefully. Here are some factors to consider: Use Cases What purpose does cryptocurrency serve? Coins with strong use cases, like Ethereum (ETH) for smart contracts , often have higher potential. Market Metrics Review these key metrics: Price : Current value per coin. Market Cap : Total value of all circulating coins. Trading Volume : Amount traded in the last 24 hours. Community and Social Sentiment A strong community often supports a coin’s growth. Check forums, social media, and project updates to gauge sentiment. Regulations and Legal Status Ensure the cryptocurrency complies with local laws. Avoid coins involved in legal disputes or regulatory issues. Whitepapers A project’s whitepaper explains its purpose and technology. Analyze its clarity and feasibility. Tools for Analysis Here’s a quick comparison of popular tools: Tool Function Key Features CoinMarketCap Tracks new cryptocurrencies Prices, market cap, trading volumes TokenSniffer Analyzes token legitimacy Contract audits, risk flags, holder analysis KryptView Provides token research Holder data, transaction details Trading View Offers technical analysis tools Charts, price trends Common Red Flags Watch out for these warning signs to avoid scams: Exaggerated Promises : Claims of guaranteed returns. Lack of Transparency : Incomplete or vague whitepapers. High Concentration : Large token supplies held by few wallets. Unverified Contracts : Missing or unverified contract details. Staying Informed The crypto market changes rapidly. To stay ahead, regularly monitor: New listings on exchanges. Social media updates from project teams. Trends in DeFi platforms and NFT marketplaces. Investing in new cryptocurrencies can be exciting and profitable. Use reliable sources, conduct thorough research, and stay vigilant against scams. By following this guide, you can explore opportunities while minimizing risks. Happy investing! CoinOtag