Monat: Oktober 2024

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SOL traders turn to this meme coin index as Solana price prediction points to a possible 5% slip

  • Solana (SOL) may see a 5% decline, slipping to around $160 amidst market volatility.
  • Investors are considering Vantard (VTARD), a new meme coin currently in its presale stage.
  • Vantard offers exposure to meme coins, appealing to traders seeking gains.

With Solana price prediction indicating a potential decline of 5%, many SOL investors are turning their attention to emerging opportunities, particularly new cryptocurrencies in their presale stages.

One such cryptocurrency in its presale stage is Vantard (VTARD), the first meme coin index fund, which aims to capitalize on the ‘memecoin supercycle.’

Solana price prediction signals a possible 5% slip

As of the latest reports, the Solana price has slipped to approximately $170, down nearly 4% on the day. This decline comes despite an all-time high in economic activity on the Solana blockchain, suggesting that while the underlying technology is performing well, the price action is not following suit.

Analysts warn that if the downward trend continues, SOL could see further corrections, potentially dropping to around $160.99, which aligns with liquidity sweeps at lower boundaries of the Fair Value Gap.

A close above the $179 threshold could signal a reversal, but for now, traders are cautious as they monitor price movements. Historically, SOL’s price trajectory has been resilient, but the combination of external pressures and market sentiment makes its short-term trajectory uncertain.

Currently, the 14-day Relative Strength Index (RSI) sits at 60.86 and is sloping downward coming from the overbought region, indicating a bearish sentiment in the market.

With predictions suggesting a long-term target of $579.46 by 2025, many investors are weighing their options in light of recent fluctuations.

The meme coin index fund token attracting SOL traders’ interest

Amidst the uncertainty surrounding Solana, traders are increasingly drawn to Vantard (VTARD), the first-ever meme coin index fund.

As meme coins gain popularity in the current crypto landscape, Vantard offers a unique proposition by providing exposure to a diversified portfolio of Solana’s top meme coins. The meme coin aims to capture the potential upside of this speculative asset class while minimizing the complexities of individual token selection.

Vantard is positioned as a low-touch investment vehicle, allowing users to participate in the anticipated ‘memecoin supercycle’ without the burden of choosing specific tokens. It is designed for both seasoned investors and newcomers, emphasizing the simplicity and accessibility of investing in meme coins.

With a mission to deliver superior returns during this speculative phase, Vantard’s approach resonates with those looking to maximize gains while avoiding the mental overhead often associated with trading individual assets.

By enabling VTARD token holders to redeem their tokens against the Treasury for a proportional share of the underlying assets, Vantard is transforming how investors approach meme coins. The structure of this index fund mirrors successful financial products like ETFs but focuses exclusively on the high-risk, high-reward landscape of meme coins.

As interest in these assets surges, Vantard is likely to attract more SOL traders eager to explore alternative investment strategies.

Which Could Be the Best Investment: Vantard (VTARD) or Solana (SOL)?

The decision between investing in Solana (SOL) or the meme coin index fund Vantard (VTARD) ultimately hinges on individual investment strategies and risk tolerance.

Solana remains a robust platform known for its speed and scalability, with significant potential for long-term growth. However, the recent price volatility raises concerns for short-term traders looking for immediate gains.

On the other hand, Vantard offers an innovative solution for those looking to capitalize on the meme coin trend. With the potential for substantial returns and a simplified investment process, Vantard may appeal to traders who want exposure to this rapidly evolving segment of the market.

Given that meme coins have outperformed other crypto sectors this year, investing in Vantard, which is currently in the first of the expected 10 presale stages, could provide an opportunity to ride the wave of speculative trading without the need to pick individual winners.

The VTRAD token is currently going for $0.00010 per token with projections of the token hitting $0.00011 in the next presale stage before rising more in the next stages.

Ultimately, SOL traders must weigh the potential for Solana’s resurgence against the enticing prospects offered by Vantard. As the cryptocurrency landscape evolves, both options have their merits, and the choice will depend on whether investors prioritize the established strength of Solana or the speculative allure of meme coins through an index fund like Vantard.

The post SOL traders turn to this meme coin index as Solana price prediction points to a possible 5% slip appeared first on CoinJournal.

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What happened in crypto this week

It’s been a busy week in crypto, from payments processor Stripe’s acquisition of stablecoin platform Bridge to Ripple’s co-founder donating $10 million in XRP to Kamala Harris’ US election campaign to the Pennsylvania House passing a bipartisan Bitcoin bill.

Let’s take a closer look at these and give you a recap on what happened this week in crypto.

Stripe acquires stablecoin platform Bridge for $1.1 billion

Payment processor Stripe completed its acquisition of Bridge, a stablecoin platform, in a deal valued at $1.1 billion.

The deal, which is the biggest for Stripe, and was valued at $70 billion in July, comes after John Collision, Stripe’s co-founder, announced in April that the company would “start supporting global stablecoin payments this summer.”

It also follows after the payment processor teamed up with Paxos to launch a stablecoin payments platform. The collaboration aims to simplify how businesses accept stablecoin payments, offering a more efficient and cost-effective alternative to traditional payment methods.

Ripple’s Chris Larsen donates $10 million in XRP to Kamala Harris

Chris Larsen, Ripple’s co-founder, has become the crypto industry’s largest donor in the 2024 US election. Earlier this week, Larsen donated $10 million in XRP to Vice President Kamala Harris’ US election campaign.

Larsen donated $9.9 million to the pro-Harris Future Forward political action committee (PAC) and $800,000 to the Harris Victory Fund.

This latest amount follows a $1 million donation in XRP Larsen made to Harris in August. Speaking about his latest donation, Larsen said on X: “It’s time for the Democrats to have a new approach to tech innovation, including crypto.”

The crypto industry has donated around $190 million in political donations so far in the 2024 US election cycle. This is a significant rise compared to the 2020 election when $15 million was donated. Of the $190 million, over $130 million has been spent in congressional races.

Pennsylvania House passes Bitcoin bill

The Bitcoin Rights Bill was passed in the Pennsylvania House, which is seeking regulatory clarity for the crypto industry.

The new bill received bipartisan support with 176 votes to 26 and is a major step for the US in terms of regulatory clarity toward digital assets. The bill outlines protections for Bitcoin and crypto holders, including the right to self-custody and use for payments.

The next stage will see the bill come up for debate and voting at the Pennsylvania Senate, which is Republican-led. If it passes, the final stage will be forwarded to Governor Josh Shapiro. However, these two steps will take place after the US presidential election.

The topic of crypto has played a significant role during the US election campaign with Donald Trump and Kamala Harris making promises to support the crypto industry if elected as the next POTUS.

The post What happened in crypto this week appeared first on CoinJournal.