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A widely followed cryptocurrency trader is turning bullish on Solana ( SOL ) while expressing his reservations about the Ethereum ( ETH ) competitor. The trader pseudonymously known as Credible Crypto tells his 460,500 followers on the social media platform X that Solana passed the “first test” by bouncing off the “must-hold” level of roughly between $165 and $190 and subsequently reaching a new all-time high of approximately $293. The widely followed analyst says that even though Solana is likely to climb higher, there’s one reason holding him back from going long on the fifth-largest crypto asset by market cap. “For what it’s worth, I think we are likely to make another subsequent new high here BUT the reason I am not interested in longing at these levels (except for short-term scalps) is because of the Bitcoin (SOL/BTC) pairing.” According to the pseudonymous analyst, the SOL/USD pair is in price discovery but Solana against Bitcoin (SOL/ BTC ) is sitting under a zone of “massive” resistance level at around 0.003 BTC. Credible says that the resistance zone could either impede Solana’s upward movement for a while or cause a “much more significant rejection and pullback.” On what it would take to turn fully bullish on Solana, the widely followed analyst says, “If we can flip this [0.003 BTC resistance] zone, I’d be full bull on SOL once again, but as long as we are trading under it, it’s the most likely place for a rejection and I think odds are pretty decent we get one (all things considered).” Source: Credible Crypto/X Solana is trading at $237 (0.0022685 BTC) at time of writing. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Trader Says Ethereum Rival Solana Primed To Go Higher After Bouncing off Must-Hold Level – But There’s a Catch appeared first on The Daily Hodl .
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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.
PEPETO Vs PENGU: Which Token Should You Consider Purchasing This Week?
The crypto market is notorious for its unpredictability, offering both lucrative opportunities and significant risks. This week, two tokens are making waves: PENGU and PEPETO . Let`s dive into the details of each token to assist investors in making a wise choice. PENGU: Facing Challenges Despite New Initiatives PENGU, linked to the Pudgy Penguins NFT collection, has recently encountered some difficulties. After the introduction of the Abstract Chain, an Ethereum Layer 2 blockchain solution, PENGU`s price has dropped by more than 38% over the past week, hitting a historic low of $0.01643. This decrease reflects a broader market trend, where other meme coins such as Dogecoin and Shiba Inu are also seeing declines. Despite these setbacks, PENGU still holds some promising features. The Abstract Chain is designed to simplify blockchain interactions, which could eventually provide a boost to tokens like PENGU. However, the market`s immediate response has been unfavorable, raising concerns about PENGU`s short-term stability. The token is trading at unprecedented lows, dipping below $0.018 for the first time, suggesting it might be undervalued. Yet, there is some support for the token around the $0.0141 mark, and if it maintains this level, there might be a chance for it to rebound towards resistance levels of $0.0186 and $0.0210. Conversely, breaking below this support could lead to further price drops. PEPETO: A Promising Contender With Solid Foundations On the other hand, PEPETO is demonstrating impressive growth and durability. Its presale has exceeded $4 million, reflecting strong investor trust and a rapidly expanding community. PEPETO offers a range of attractive features that distinguish it from other meme coins in the market. A key feature of PEPETO is its cross-chain exchange, PepetoSwap. This platform aims to bring various meme coins into a single ecosystem, providing them with real utility and creating a vibrant market for these tokens. Additionally, the project offers attractive staking rewards with an annual percentage yield (APY) of up to 362%. This feature provides a strong motivation for investors to stake their tokens and engage with the #Pepeto ecosystem. A New Year’s Message from the God of FrogsAs the New Year begins, the God of Frogs, Pepeto Himself, shares a message of triumph and faith for the loyal Pepeto Army:The Plan Unfolds: The roadmap progresses flawlessly, as foretold. Every milestone has been achieved, and the… pic.twitter.com/zCmy1bTRQY — Pepeto (@Pepetocoin) January 1, 2025 The PEPETO presale, with its current trading price at $000000107, has already hit the $4 million mark, showcasing the project`s momentum and the faith investors have in its future. This presale triumph is among several indicators that #Pepeto could experience substantial growth as more users come to appreciate its offerings. Why PEPETO Stands Out as the Better Investment When weighing both tokens and their current market situations, #PEPETO emerges as a more appealing investment option this week. The ongoing struggles and bearish patterns of PENGU make it a riskier bet at present. In contrast, PEPETO provides a unique blend of cross-chain functionalities and groundbreaking tokenomics, positioning it for potential growth and sustained success. {Add Hyperlink to Banner: http://pepeto.io } About Pepeto Pepeto is an innovative cryptocurrency initiative that combines the fun elements of memecoins with a robust utility-focused ecosystem. It includes a zero-fee exchange, a cross-chain bridge for effortless swaps, and staking incentives aimed at supporting the future wave of tokens. Media links Website: http://pepeto.io X (Twitter): https://x.com/Pepetocoin YouTube Channel: https://www.youtube.com/@Pepetocoin Telegram Channel: https://t.me/pepeto_channel Instagram: https://www.instagram.com/pepetocoin/ TikTok: https://www.tiktok.com/@pepetocoin Contact Details Contact: TokenWire Team Email: contact@tokenwire.io The Daily Hodl
Tezos Sees Rising Revenue but Declining Activity as Users Shift to Layer 2
Tezos Layer 1 saw a 30.4% quarter-over-quarter (QoQ) rise in transaction fee revenue, reaching 11,100 XTZ in Q4 2024. Meanwhile, Etherlink, Tezos’ first EVM-compatible smart roll-up, grew even faster, with a 44% quarterly increase, hitting 6,669 XTZ. Despite this, the overall network activity on Tezos dropped by 5% during the same period, with monthly transactions and contract calls averaging 3.2 million. According to Messari’s latest report , this decline is consistent with the ongoing shift toward Layer 2 solutions like Etherlink, which offers faster, lower-cost transactions to support Tezos’ scaling strategy. While total transactions were less, the daily active addresses (DAA), however, rose by 37% from the previous quarter, averaging 1,800 unique addresses per day. This increase in unique wallets suggests that while transaction volume decreased, the network’s user base continues to grow, reflecting a broader adoption trend. Web 3 And NFT on Tezos Q4 2024 saw a major boost in Web3 gaming and NFT activity on Tezos, driven by Etherlink, an EVM Layer 2 offering fast transaction finality and low fees. The gaming sector thrived with key integrations, such as Rarible’s launch of the BattleRise Founder Pass, the first gaming NFT on Etherlink. This pass granted in-game perks, staking rewards, and rental opportunities. Sugarverse further expanded the gaming scene with Sugar Match, a match-3 puzzle game featuring tradable NFTs. Additionally, Etherlink saw successful NFT drops like MDCL and Chapter 00, both selling out quickly. Etherlink’s gaming-friendly infrastructure enables developers to deploy Ethereum-based smart contracts seamlessly on Tezos. With high throughput and cost efficiency, the ecosystem continues to attract new projects. Currently, over 100 projects are developing on Etherlink, solidifying its position as a prime destination for Web3 gaming, NFT marketplaces, and blockchain-powered digital experiences. DeFi on Tezos Expands The total value locked (TVL) in USD rose by 6% QoQ in Q4 2024, closing at $53 million. However, this growth stemmed from XTZ’s rising price, as TVL in XTZ terms actually fell by 37% compared to last quarter. At the same time, Etherlink’s TVL surged past $1.5 million, nearly doubling from Q3 levels. This suggests that liquidity is migrating from Tezos to Etherlink amidst a growing adoption of Layer 2 solutions. Youves, a decentralized synthetic assets application, topped in terms of TVL among Tezos protocols and holds over $32 million, which marked a 28% growth from Q3. Sirius, an XTZ/tzBTC liquidity-baking protocol, ranked second with $9.8 million, followed by Kord.Fi, another liquidity-baking platform, with $5.91 million in TVL. The post Tezos Sees Rising Revenue but Declining Activity as Users Shift to Layer 2 appeared first on CryptoPotato . The Daily Hodl
