In a recent turn of events, the price of Solana (SOL) edged up by 1%, hovering around $19.77, driven by Visa’s expansion into stablecoins, integrating the Solana blockchain into its pilot. Despite a somewhat uninspiring week and month, down 8% and 14% respectively, the altcoin remains bullish on a yearly view, up by 98%.
Although the market sentiment tilts towards the pessimistic side, this Visa development could be a silver lining, launching a recovery trajectory. SOL’s market indicators suggest it has been significantly oversold creating a reasonable buying proposition. It could potentially be paving way for an upward surge, turning tables from its recent losses.
The coin’s 30-day moving average teetering on the brink of slipping below its 200-day average further bolsters this viewpoint. Coupled with an increase in its support level, it indicates that the downturn may have hit the floor and the asset might be gearing up to reclaim lost ground.
The ripple effects of Visa’s decision to integrate the Solana blockchain into its stablecoin pilot could open the floodgates for SOL. With Visa’s confirmation, Solana’s supreme potential to rival Ethereum in the crypto landscape is recognized. Boasting impressive performance metrics such as ‘400 millisecond block times’ and handling around ‘400 transactions per second’, this news should act as a catalyst nudging SOL towards growth.
While the indication does point towards a rebound, with the potential of delivering steady returns, some traders might eye altcoins that might offer greater short-term gains. For instance, presale tokens such as Bitcoin BSC (BTCBSC), a BNB Chain-based Bitcoin version, are gaining attention. Suggesting a potential replication of Bitcoin’s legendary rise, BTCBSC presents an investment opportunity complete with the lure of earning passive staking income.
As the BTCBSC presale picks up momentum, it demonstrates its potential as a deflationary cryptocurrency, distinct from the original Bitcoin in the sense that its remaining supply will be earned via staking, not mining. The buzz around its decentralised construct and promising staking returns could make it a coveted asset in the bear-ish market.
Investing in BTCBSC seems straightforward. One can procure it on the official BTCBSC website, with expectations of the sale culminating with a listing on BNB Smart Chain DEX.
Nevertheless, it’s crucial to tread with caution as cryptocurrencies are notoriously volatile, posing high financial risk. Equipped with due diligence, potential investors could decide if they are ready to partake in the unfolding narratives.
**Disclaimer**: Investment in cryptocurrencies carries with it significant risk, potentially leading to substantial or total loss of capital. Reader discretion is advised.
Source: Cryptonews
