Investors interested in Solana (SOL) should pay interest as the cryptocurrency market is always in flux. Not long ago, SOL hit a peak this week at $157.51; in recent times, it fluctuated around a price of $153.69. With the token subject to great expectations, some are pushing the bar further to see if the token will reach $300 within the next 15 days. Given the current state of the market and developments therein, however, such a price target appears to be too optimistic.
Solana’s Path to $300: Can SOL Break the Resistance or Will It Stall?
FTX recently unstaked a considerable amount of Solana on the 15th of October, with 178,631 SOL tokens estimated to be worth $28 million. This has sparked a certain level of panic since these tokens are expected to be sold over the counter by major exchanges such as Binance or Coinbase. FTX and Alameda Research’s continuing practice of redeeming tokens monthly is worrying, given that the two firms combined control over 7.09 million SOL tokens worth over 1.1 billion dollars. Many investors are in a state of panic over these firms’ assets and how their liquidations will affect prices for SOL tokens. In the past couple of days, SOL has been able to recover from low levels of around $143, which were recorded last week. Technical indicators, on the other hand, show that the token has not been able to rise above the strongest selling pressure at $160. Attempts to stay above this price level have been failures one after another, and analysts warn that should the bears dominate the action, SOL could be headed to as low as $134. Even with these limitations, Solana’s Total Value Locked (TVL) showed an impressive growth of $6.1 billion this October, the highest level recorded since January 2022. This development is a result of increased DeFi usage and trading of meme coins on Solana-based decentralized exchanges such as Raydium. In addition, the network recorded substantial participation activity with more than four million active addresses daily. Also, the recent integration with Wanchain enabled the movement of assets across chains more efficiently, thereby improving the ecosystem’s experience. Even as these positive developments offer some prospects to SOL holders, the price movements in recent times have shed some uncertainty regarding the recently concluded FTX, hence discrediting the claim that within 15 days, it is very likely that a breakout of $300 is going to happen. On the contrary, several crypto whales have begun the hunt for generation altcoins possessing transformational blockchain features like Rexas Finance (RXS).
Rexas Finance (RXS): An Effective Substitute
Rexas Finance (RXS) simply brings about a paradigm shift in the asset management space. It enables its users to own or create a token of almost any physical asset that they might hold in the form of real estate, artwork, commodities, and even intellectual property on a worldwide basis. Through Rexas Finance, the investors are exposed to a scenario where asset illiquidity and availability of enough investment options are something of the past. Simply put, the use of blockchain technology fosters participation, transparency, and efficiency in the investment process. As it stands currently, Rexas Finance is in its presale stage 4, with 1 RXS token estimated at $0.060. As for the presale, this has been promising so far, being 76.66% filled, where $3,909,702 has been raised out of a target of $5,450,000, and 84,328,365 out of the 110,000,000 tokens have been sold.
Price Projections: Solana And Rexas Finance
Over the next 15 days, it is very doubtful that Solana will go beyond $300 at its present trading circumstances, and with $160 still rampant, there is limited hope in the amplification of its price. On the flip side, Rexas Finance looks more favorable considering the upward trend regarding its presale value, which is expected to rise to around $0.070 in the next 15 days. Such an increase would mean a good 16.67% gain has been registered by the investors. To give you an example, if the price estimates do play out, then an investment of around $100 in the presale price of Rexas Finance could be around $116.67 shortly. Likewise, for a $1000 investment, the estimated returns would be around $1166.70. With such promising returns, many will be looking towards Rexas Finance as they look for the next big opportunity in the crypto world.
Conclusion
The digital asset Solana (SOL) still attracts some sentiments as it tries to cement its support level at $160 with a value locked of more than $6.1 billion. However, due to FTX’s liquidation uncertainty, reaching a breakout above $300 seems highly unlikely in the near term. While the activity of growing DeFi and meme coin space keeps Solana in the picture, Rexas Finance is rapidly taking off because of its presale and the approach it brings towards tokenizing the assets. This strong alternative can entice crypto whales who wish to expand their pockets and speculate on the potential prospects of the blockchain space.
About Rexas Finance :-
Website: https://rexas.com
