• Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact
Wednesday, May 14, 2025
FinCurrency
No Result
View All Result
  • Home
  • News
  • Finance
  • Economy
  • Crypto
  • Home
  • News
  • Finance
  • Economy
  • Crypto
No Result
View All Result
FinCurrency
No Result
View All Result

Is SOL Ready To Flip USDT?

Sergio Gruber by Sergio Gruber
November 23, 2024
in Crypto, News
Reading Time: 2 mins read
A A
0
Is SOL Ready To Flip USDT?
0
SHARES
0
VIEWS
FacebookTweetPinShareShare

Solana (SOL) has etched its name in the annals of cryptocurrency history by reaching a new all-time high (ATH) of $262. This remarkable achievement marks a significant recovery for the digital asset, which faced turbulent price fluctuations over the past three years. SOL’s journey from plummeting to $8 during the FTX exchange collapse and subsequent crypto bear market to its current valuation is nothing short of historic.

Solana’s Path to Recovery and the USDT Flippening

Renowned as the “Ethereum killer,” Solana (SOL) has once again captured the attention of the crypto community. Despite experiencing a dramatic decline following the collapse of FTX, a crypto exchange led by Sam Bankman-Fried, SOL has made an impressive comeback over the past two years. As of now, SOL ranks as the fourth-largest cryptocurrency, boasting a market capitalization exceeding $123 billion.

blockdag 70m

Related Reading

With its current market cap, Solana is just $8 billion short of surpassing stablecoin Tether (USDT), which holds a market cap of approximately $130 billion. To achieve this milestone, SOL requires a further 10% price appreciation to decisively eclipse USDT’s market cap, thereby becoming the third-largest digital asset. It will then trail only Bitcoin (BTC) and Ethereum (ETH) in terms of market cap.

Considering SOL’s recent price trajectory, it’s plausible that the digital asset could outpace USDT’s market cap by the year’s end. In just three weeks, SOL has surged by an impressive 75%, climbing from $148 on November 4 to $259 at present. While the broader crypto market has gained momentum following the victory of pro-crypto US presidential candidate Donald Trump, attributing SOL’s ascent solely to this would be an oversimplification.

Factors Fueling SOL’s Remarkable Turnaround

The resurgence of SOL can be attributed to several key factors that have driven increased network adoption. A significant contributor to this growth is the ongoing memecoin frenzy, which has emerged as a dominant narrative in the crypto market. Memecoins, particularly those built on the Solana blockchain, have gained substantial popularity over the past year, with their total market cap surpassing $10 billion in October alone.

Related Reading

This memecoin craze has translated into heightened network activity on Solana. Between September and October, the blockchain experienced a remarkable 42% month-over-month increase in active addresses, totaling approximately 123 million.

In addition to benefitting from the memecoin narrative, Solana has witnessed a surge in decentralized finance (DeFi) activity throughout the year. According to DefiLlama data, Solana hosts the world’s second-largest DeFi ecosystem, with a total value locked (TVL) of $9.265 billion.

Moreover, there are growing prospects for a Solana-based exchange-traded fund (ETF). Recent reports suggest that the US Securities and Exchange Commission (SEC) is in active discussions with multiple asset managers regarding the potential launch of a new spot Solana ETF.

Looking Ahead: SOL’s Growth Potential

While achieving a new ATH is a commendable feat for SOL, experts believe the token still has significant growth potential. At the time of writing, SOL trades at $259, reflecting a 6.2% increase over the past 24 hours.

Tags: altcoinBitcoinDeFietfEthereummemecoinSolSolanaSOLUSDTstablecointetherusdt
Previous Post

Rivalling EU MiCA with New Stablecoin Rules

Next Post

Can Trump’s Bitcoin Reserve Plan Fix It?

Sergio Gruber

Sergio Gruber

Financial writer Hello, my name is Sergio Gruber and I am a finance editor with a specialization in blockchain and cryptocurrency. I have a deep understanding of how the financial world is being transformed by these exciting technologies.I received my degree in Finance Editing from Western Washington University, where I learned how to combine my passion for writing and financial analysis. Since then, I have worked with a number of high-profile publications, helping to educate and inform readers about the latest developments in the world of blockchain and cryptocurrency.

Next Post
Can Trump’s Bitcoin Reserve Plan Fix It?

Can Trump’s Bitcoin Reserve Plan Fix It?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Popular News

  • How BlockDAG’s Community-First Strategy Raised $68.3M in Presale; Cardano To Roll out New Update & Solana Price Prediction Bullish

    How BlockDAG’s Community-First Strategy Raised $68.3M in Presale; Cardano To Roll out New Update & Solana Price Prediction Bullish

    0 shares
    Share 0 Tweet 0
  • Top 10 Altcoins Under $1 to Invest in 2025

    0 shares
    Share 0 Tweet 0
  • Alex Mashinsky Net Worth: From Tech Pioneer to Legal Battle

    0 shares
    Share 0 Tweet 0
  • How to Earn Passive Income? Embrace the Future of Passive Income and Earn 20% Instant USDT with Caged Beasts Coin

    0 shares
    Share 0 Tweet 0
  • Vanguard Routing Number: How to Find and Use It

    0 shares
    Share 0 Tweet 0

Recent News

$12k Void Opens Up Possibility Of Crash Toward $75,000

$12k Void Opens Up Possibility Of Crash Toward $75,000

January 11, 2025
Phishing, Fake Mining Scams, and $474K Loss in One Week

Phishing, Fake Mining Scams, and $474K Loss in One Week

January 11, 2025
3 kleine crypto’s met potentie

3 kleine crypto’s met potentie

January 11, 2025
Unbelievable 1000x Return in Just 12 Hours!

Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin

January 11, 2025
FinCurrency Logo White Mode Retina Mobile

FinCurrency is a user-friendly platform that stands out as a unique source where our strong team of experienced and academically qualified writers, who are experts in their fields, analyze current issues and global affairs related to the finance and crypto world in an enjoyable and non-technical approach.

$12k Void Opens Up Possibility Of Crash Toward $75,000

$12k Void Opens Up Possibility Of Crash Toward $75,000

January 11, 2025
Phishing, Fake Mining Scams, and $474K Loss in One Week

Phishing, Fake Mining Scams, and $474K Loss in One Week

January 11, 2025
3 kleine crypto’s met potentie

3 kleine crypto’s met potentie

January 11, 2025
Unbelievable 1000x Return in Just 12 Hours!

Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin

January 11, 2025

WARNING:

The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.
Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

  • Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact

© 2024 FinCurrency - Global News

No Result
View All Result
  • Home
  • News
  • Economy
  • Finance
  • Crypto
  • Technology
  • Terms and Conditions
  • Contact

© 2024 FinCurrency - Global News

Banner 1
Banner 2
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Terms and Conditions.