Solana Price Prediction as SOL Surpasses Altcoin Fund Inflow with $13.6 Million Last Week – Is SOL the New Investor Favorite?

Last Updated: November 22, 2023 7:03 AM EST | 3 minutes of reading

THE Solana Price fell 3% in the last 24 hours, dropping to $54.67 after Binance settlement with the US Department of Justice brought the entire market down yesterday.

SOL is now down 8.5% over the past week, but the altcoin remains up 26% over the past fortnight and an impressive 84% over the past 30 days.

It is even up more than 400% since the start of the year, and as Solana continues to top the altcoin inflows chart, it will likely see further gains in the coming weeks.

Solana Price Prediction as SOL Surpasses Altcoin Fund Inflow with $13.6 Million Last Week – Is SOL the New Investor Favorite?

Compared to many other tokens today, SOL’s chart and indicators continue to look relatively healthy, even with yesterday’s slide.

Its RSI (purple) is already near 60 after falling overnight, suggesting that buying pressure remains on the altcoin and is likely to continue climbing soon enough.

Source: TradingView

It is also encouraging to see that SOL’s 30-day average (yellow) is still above its 200-day average (blue), a sign that the coin is likely to continue moving towards higher levels for the foreseeable future.

There are other positive signs, including the token’s 24-hour trading volume, which remains high at $2.5 billion.

It is likely that much of this volume increase comes from funds, which have shown increasing demand for SOL in recent weeks.

Indeed, SOL experiences the highest weekly inflows of any altcoin, with the latest CoinShares report showing it attracted $13.6 million in inflows last week.

This compares favorably to the $3.3 million received by Ethereum, with only Bitcoin (BTC) – at $154.7 million – beating it.

As such, SOL should continue to grow healthily once the market returns to a more positive outlook.

For now, Binance’s deal with the DoJ has dampened the mood, sending SOL and most other tokens lower.

The overall results, however, remain very positive for SOL, which is having an excellent year in 2023.

To some extent, its gains are the result of a very bad 2022, in which it suffered a series of outages that damaged its reputation.

Yet it has now enjoyed 100% uptime for almost nine consecutive months, a sign of how much the updates have improved its efficiency and resilience.

Based on this, Solana price is expected to reach $60 in the coming weeks and potentially end the year at around $80.

Other Strong Altcoins

SOL is not the only promising alt on the market right now, with a number of newer coins – including presale tokens – looking like they could rebound in the coming weeks.

An ideal candidate to achieve this is Bitcoin Minetrix (BTCMTX)a mining participation platform that has raised over $4.2 million in its ongoing presale.

This figure is a big vote of confidence in Bitcoin Minetrix, which will allow users to mine Bitcoin (BTC) by staking its native BTCMTX token.

BTCMTX staking provides users with mining credits, which they can spend on actual Bitcoin mining.

By doing this enough, they will earn freshly mined BTC, which is likely to expand and democratize access to Bitcoin mining.

Additionally, staking also earns users from the newly minted BTCMTX, meaning Bitcoin Minetrix could end up being a very lucrative platform for users.

To participate in the presale, investors simply need to visit the site Bitcoin Minetrix official website and connect their software wallets.

The sale is currently in its penultimate stage, with 1 BTCMTX costing $0.0118.

This will move $0.0119 by the final leg of the sell-off, which begins in just under five days.

And once the final stage is complete, BTCMTX will be listed on the stock exchange, where it could potentially see a big rally.

Visit Bitcoin Minetrix now

Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.

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