Connect with us

Hi, what are you looking for?


Solana Price Prediction as Jupiter DEX Surpasses Uniswap – A New High for SOL Incoming?

Solana (SOL) price predictions have sudden become much more bullish in wake of the cryptocurrency breaking above key technical resistance levels, and amid a surge in on-chain activity that saw Solana’s largest decentralized exchange (DEX) Jupiter surpass Uniswap in terms of 24-hour trading volume over the weekend.

The Solana price moved back above $100 on Monday for the first time in 11 days.

It has now broken convincingly back to the north of its 21DMA and a downtrend that had been in play going back to the December highs in the $120s.

Solana (SOL) Price Chart / Source: TradingView

As per CoinGecko, 24-hour volumes on Jupiter were last around $585 million.

That’s barely behind the multi-chain Uniswap protocol’s 24-hour volumes of $620 million.

Uniswap is lauded as one of the Decentralized Finance industry’s best success stories.

So the fact that Jupiter has caught up is a big deal for the protocol, as well as for the Solana blockchain.

For reference, the recent surge in Jupiter trade activity has mostly been driven by airdrop related excitement.

Jupiter will an airdrop of 40% of the supply of its native JUP token on Wednesday.

Jupiter volumes have also been high recently after it launched an airdrop of a joke meme coin called WEN to poke fun at Solana users who had been incessantly asking when Jupiter would drop its JUP token, and to act as a test run of the JUP airdrop.

27% of the unclaimed WEN supply was just burnt, as per solscan.

Solana Price Prediction – A New High for SOL Incoming?

Jupiter-fuelled airdrop hunting is helping to power on-chain activity on Solana back to new yearly highs.

As per data presented by The Block, the 7DMA of new addresses on Solana just hit a new record high above 450,000.

Meanwhile, the 7DMA of active addresses is fast heading back to yearly highs at 1,000,000.

Likewise, the 7DMA of value moved on chain is also rebounding and was last at just under $40 billion.

Positive on-chain trends plus positive technical developments suggest a strong likelihood that the Solana price quicky hits new highs.

Price predictions are thus bullish, with traders targeting a return to the $120 for the Solana price.

If the Solana price is able to break above here, a quick retest of the April 2022 highs in the $140s is likely.

Solana (SOL) Price Chart / Source: TradingView

Crypto Alternatives to Consider

Solana coins can offer huge potential returns.

But diversification is your friend in the wild crypto markets.

For those looking for a strong probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.

This is where investors buy the tokens of upstart crypto projects to help fund their development.

These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.

Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.

If an investor can identify such projects, the risk/reward of their presale investment is very good.

The team at Cryptonews spends a lot of time combing through presale projects to help investors out.

Here is a list of 15 of what the project deems as the best crypto presales of 2023.

See the 15 Cryptocurrencies

The post Solana Price Prediction as Jupiter DEX Surpasses Uniswap – A New High for SOL Incoming? appeared first on Cryptonews.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



The Pepe (PEPE) price pumped up 30% on Monday, with investors flooding back into the meme coin amid a surge in risk-taking activity across...


OTC crypto crime appears to be on the rise in South Korea, where police say they have arrested a “multinational gang” who allegedly locked...


The newly launched nine Bitcoin exchange-traded funds (ETFs) in the U.S. have broken an all-time daily record in volume, taking in $2.4 billion which...


The price of the leading cryptocurrency Bitcoin rallied over 10% to soar above $57,000 for the first time since November 2021. The price rally...


The U.S. Republican senators have introduced a bill aiming to ban Federal Reserve-backed central bank digital currency (CBDC). As reported by The Hill, this...


The Financial Stability Board (FSB) will deliver reports on asset tokenization and AI later in 2024, according to Chair Klaas Knot. FSB Chair @KlaasKnot...

You May Also Like

Financial Advisors


Financial Advisors


Financial Advisors

The humongous outbreak of the dreaded coronavirus has brought about a groundbreaking change in what the world perceived as ‘normal’. With an estimated 280,391,189...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Respect Investment. All Rights Reserved.