Solana’s price dropped below $140 as the markets took a slight beating, and the bears came out to play in the past 24 hours. There has been a broad-based stumble as the overall market dropped by an average of 2%. What is even more interesting is that many coins like SOL are back to regaining value and recovering their lost ground.
A few individual altcoin charts were showing signs of a bearish influence from the previous day’s trading as their market volumes were dropping, and a few coins dropped in value as well. Solana’s price dropped almost 7% in value and almost immediately started showing rising market volumes, which indicates strong investor interest in SOL.
This eventually dropped as traders took up their positions. However, while many are confident about Solana’s price rise over the $145 range in the short term, others are hedging their exposures by joining the DTX Exchange bonus round before it ends.
Solana Price dropped below $140 As New Tariffs Announced
Solana’s price dropped by 7% as new macroeconomic factors seemed to come into play. Although not related to crypto, President Donald Trump’s announcement about new tariffs on the auto sector seems to be the cause of the latest drop in the markets.
Before this, the SOL token’s performance was among the best in the crypto markets as it gained over 17% before the consolidation pushed the gains down, and the Solana price settled around the $140 range.
Market experts are still fairly confident that the Solana price will regain its lost ground and will settle over the $145 range as there is significant support from both traders as well as institutional interest in the SOL network. Chances of an SOL ETF are also high, making investors bullish on Solana price gains.
DTX Exchange: Passive Trading Flows
The outlook for Solana’s price performance is still bullish, despite the latest bearish trend, however, many SOL whales are picking up the DTX Exchange presale before it ends.
DTX Exchange’s core qualities that are drawing in massive investor and trader interest are its direct-from-wallet, non-custodial trading and storage solution, which eliminates the need for long-drawn KYC approvals and vetting.
In addition, the DTX trading exchange is based on VulcanX, a Layer-1 blockchain. It has been recorded on its testnet with a TPS of 200,000, making it one of the fastest blockchains around.
DTX Exchange has been designed to offer traders an integration between traditional financial instruments like stocks and forex and digital assets like cryptocurrencies. As a hybrid trading platform that covers all asset groups, this is going to be a game-changing project.
Conclusion
While established altcoins like Solana’s price have to undergo market volatility, as they are already listed and subject to market influences, fresh projects that are about to be listed have an edge with their clear upside potential. DTX Exchange (DTX) is one of the promising new ICOs with plenty of room for growth.
This explains why many active investors have already snapped up DTX tokens from the presale stages, as its price rose from $0.02 to the present $0.18, which is a rise of over 800%. The presale has already raised $16.2 million, and early buyers will earn a straight 200% profit when it launches at its listing price of $0.36
To know more about the DTX Exchange ecosystem, check out:
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Editor-in-Chief of CoinCentral and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact Oliver@coincentral.com
