Solana, the popular blockchain platform, has been in the spotlight recently as its native token SOL consolidates around the $130 mark. The current price action suggests neutral market sentiment, with the 4-hour chart analysis indicating crucial support and resistance levels
BBSOLThe Solana ecosystem has also seen some exciting developments, with Bybit, a leading cryptocurrency exchange, launching its liquid staking solution called BBSOL. This pioneering move aims to provide users an efficient way to stake their SOL tokens and earn rewards.
Despite the overall crypto market slump, some Solana-based projects have been thriving. For instance, the DePIN coin HNT has surged by 74% in the last 30 days, making it a top gainer among the top 100 coins by market cap.
As the Solana Breakpoint event approaches, historical data suggests that SOL tends to see a price upswing in the weeks leading up to the event. In 2021 and 2022, SOL surged by 35% each year, while in 2023, it saw a 60% increase.
In other news, the Solana-based game Nyan Heroes is launching its third public pre-Alpha test from September 4 to 25, with a 5,000,000 NYAN airdrop for qualifying participants.
Also Read – Notcoin (NOT) Struggles with Significant Drop from All-Time High
As the crypto market gears up for a potential bull run and altcoin season, all eyes are on Solana and its ecosystem. With the launch of liquid staking and the upcoming Breakpoint event, SOL could be poised for a significant price surge shortly.