Altcoin
Can Price Hit $150 Ahead?
A Solana whale rattled the crypto sector on Tuesday, heavily accumulating SOL amid a broader market dip. On-chain whale data signaled that a whopping 195,000 coins were sacked from crypto exchange giants as SOL price slammed around $120. As an upshot, bullish market sentiments orbiting the sixth-largest coin by market cap surfaced among traders and investors, with a potential $150 target next.
Solana Whale’s Trade Move Stirs Market Optimism
According to Lookonchain data on March 11, a Solana whale withdrew 195,000 coins from crypto exchange behemoths recently. Per the whale data, $23.2 million worth of coins were bought from top CEXs Bybit, OKX, and Gateio in the past 24 hours.
This massive accumulation by a large-scale trader amid an ongoing market slump reflected strong confidence in the asset’s potential ahead. As a result, broader market sentiments reflect optimism about the asset’s long-term price prospects.
Solana Whale’s ‘Buy-The-Dip’ Plan
Notably, the broader crypto market currently faces immense pressure due to macro fears. Soon after Donald Trump’s new tariff saga, the chances of a recession in the U.S. rose to 40%. In turn, risk assets encountered a panic-stricken investor sentiment globally.
Bitcoin price lost $80K, even touching a $76K multi-month low this Tuesday. Altcoins, including SOL, mirrored the broader slumping trajectory. However, the Solana whale’s decision to capitalize on the dip indicated a ‘buy-the-dip’ strategy, setting off optimistic waves among investors as it signals a recovery lies ahead.
Rising Staking Fuels More Optimism
Simultaneously, an X post by Onchain Lens on March 11 revealed that ‘Cumberland DRW’ staked 48,182 SOL, worth $5.72 million, recently. Coupled with the massive SOL whale accumulation, this data garners additional optimism, underscoring reduced token supply on exchanges.
Overall, the whale data and staking saga reflected rising market interest in the asset’s potential, paving a bullish road for price.
Can SOL Price Recover To Hit $150?
As of press time, SOL price cracked slightly over 3% and exchanged hands at $123. The coin bottomed and peaked at $113.19 and $131.24 in the past 24 hours. Crypto market watchers anticipate a rising action ahead amid increased buying for the asset.
Simultaneously, renowned market trader ‘Coinvo’ took to X, stating Solana is going to explode ahead. The trader cites a historical pattern, signaling that a bull run awaits as the coin mirrors its 2021 trend.
On the other hand, Bitcoin OG ‘Lucky’ took to X, revealing that a tiny market movement could fuel SOL to above $150. The coin currently sees a strong demand zone between the $110-$127 range, per the analyst. Altogether, when coupled with the massive Solana whale accumulations, the odds of these bullish projections gained significant weight.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto market analysts believe that a spot XRP ETF filing coming from the world’s largest asset manager BlackRock could speed up the approval process. This discussion sparks within the XRP community as the U.S. Securities and Exchange Commission (SEC) delayed the decision on ETF filing for Ripple cryptocurrency by Canary Capital and Grayscale.
BlackRock May Leverage XRP ETF Delays
On Tuesday, March 11, the US SEC delayed its decision for approval for the Canary spot XRP ETF and the Grayscale ETF, along with the delays in Solana ETF from Canary, VanEck, and others. Bill Morgan, a prominent lawyer and advocate for XRP, has raised speculation about BlackRock’s potential strategy amid ongoing delays in crypto ETF approvals.
Morgan added that BlackRock might see these delays as favourable to them, as it gives the asset manager some additional time to file an XRP-based exchange-traded fund (ETF) and gain a competitive edge in the market.
Although the asset manager hasn’t hinted at filing an Ripple ETF anytime soon, market analysts are hopeful of this development in the future.
Franklin Templeton Files XRP ETF Application
Despite the delays in approval by the US SEC, $1.5 trillion asset manager Franklin Templeton filed an application for an XRP ETF. According to the filing, Coinbase Custody Trust Company will serve as the custodian for the fund’s XRP holdings, ensuring secure storage of the digital assets.
The move marks a significant development in the evolving crypto ETF landscape, with Franklin Templeton joining the growing list of institutions vying to bring XRP-focused financial products to market.
Following the change of regime at the US SEC, and the Trump administration in charge, market analysts are hopeful for an XRP ETF. However, asset managers like BlackRock would be willing to wait for a settlement in the Ripple lawsuit, which could provide a clear path for filing an ETF application. Several market analysts believe that the settlement could happen before Ripple’s appellate brief submission on April 16, 2025.
XRP Price Action Ahead
XRP price is up 5% today amid the current ETF developments with open interest surging 2.28% to $3 billion. The 24-hour liquidations have surged to $ 13.85 million, with more than $7 million in short liquidations.
Mikybull Crypto highlights XRP as one of the strongest performers despite the ongoing market downturn. The analyst points to a daily bullish divergence on XRP’s chart, signaling potential upward momentum. Mikybull anticipates that XRP could see a significant rally once broader market recovery begins.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The latest reports in the market suggest that Pi Network is heading for a price pegging mechanism on the blockchain. Reportedly, the community has recently come across a smart contract code associated with Chainlink, while making direct references to the native cryptocurrency Pi Coin. The Pi price has shot up by 8% today, moving to $1.50 as investors continue to stay bullish for a rally to $5 and beyond.
Pi Network To Implement Dynamic Pegging Mechanism?
The Pi Network community has recently come across a smart contract code, featuring Chainlink, while putting up a direct reference to Pi Coin. This code hints at implementing a dynamic pegging mechanism, thereby potentially signaling plans to stabilize Pi’s value via an automated minting and burning system.
If verified, the discovery suggests that Pi Network could be implementing a price-pegging mechanism to manage volatility. This approach is commonly used in stablecoins like USDT and USDC, which tie their value to assets such as USD or gold. The mechanism further enables price stability, providing a predictable and less volatile trading environment.
Some market analysts believe that a pegged Pi Coin could attract more users and investors by offering a more reliable valuation method. They also believe that as an algorithmic stablecoin, the altcoin could see greater acceptability in everyday transactions and decentralized finance (DeFi) ecosystems. However, the PiCoreTeam still needs to confirm the authenticity around this pegging mechanism.
What Will Be Pi Coin Price After Pegging?
Recent details about Pi Network’s pegging mechanism highlight a unique approach to stabilizing its value through dynamic algorithmic pegging. The smart contract, reportedly tied to Chainlink, will automatically manage the supply of Pi Coins based on price fluctuations. It will do this in two ways:
- Minting additional Pi Coins when the price drops below the target.
- Burning existing Pi Coins when the price exceeds the target.
As shown in the image below, the name of the pegged token is Pi Coin with a target price of $314,159 USD (represented as 314,159 × 10¹⁸ Wei, the smallest Ethereum unit). The mint mechanism will be activated when the price falls below the target and the burn mechanism will be activated when the price moves above the target.
Binance Listing an Immediate Price Target
The latest reports in the town suggest that the Pi Network cryptocurrency could be heading for an immediate listing on crypto exchange Binance. This could provide it a major liquidity boost, driving the price higher. With a binance listing, Pi Coin could register its spot among the top ten cryptocurrencies by market cap.
Pi Coin’s price has demonstrated resilience, holding firmly at the $1.30 support level despite recent market volatility. Analysts point to this as a bullish signal, suggesting that Pi cryptocurrency may be gearing up for a significant upward move. Market sentiment is turning optimistic, with growing calls for a potential rally pushing PI towards the $5 mark.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto Market Today (March 12): Bitcoin (BTC) price regained an upward trajectory after a bloodbath, briefly touching $83K as of early Asian hours on Wednesday. Major-league altcoins such as XRP, Solana (SOL), and Ethereum (ETH) have followed, surging 1%-7% intraday. Notably, Kaspa (KAS) has led the broader market gains, soaring 16%.
Crypto Market Today: BTC & Altcoins Bounce Back After Dip
The crypto market added 3.5% value intraday, as indicated by a global market cap of $2.67 trillion. Further liquidations from yesterday declined by over 58% and reached $389.61 million (Coinglass data), offering relief to prices.
Intriguingly, the digital asset sector appears to be digesting trade war tensions post-Trump’s new tariffs as well as rising fears of a U.S. recession.
BTC Price Touches $83K High Intraday
After crashing to a multi-month low of $76K, BTC price regained a rising trajectory today, exchanging hands at $82,120. The flagship crypto rose over 3% intraday, hitting a low and a peak of $79,059.43 and $83,737.45, respectively.
Bitcoin’s market dominance saw a 0.22% upswing to 61.27%, undermining altcoins’ gains. Market watchers anticipate whether it is finally the time for a rally in light of the recent U.S. strategic Bitcoin reserve announcement.
ETH Price Jumps 1%
ETH price managed to gain only 1% in the past 24 hours, closing in at $1,863. The crypto hit an intraday bottom and peak of $1,842.15 and $1,961.80 in the past 24 hours. Ethereum’s market dominance slipped to 8.5%, a considerable decline from previous levels of above 9%.
XRP Price Soars 7%
XRP price witnessed a remarkable 7% uptick in value intraday and exchanged hands at $2.15. The coin bottomed and peaked at $2.05 and $2.24, respectively. Ripple’s native coin surged in tandem with Franklin Templeton’s S-1 filing for an XRP ETF recently.
SOL Price Gains 2%
SOL price witnessed gains worth 2% in the past 24 hours and exchanged hands at $122. The crypto’s 24-hour low and high were $118.87 and $128.15, respectively. Solana’s price rose alongside the broader market trend this Wednesday.
Meme Crypto Market Today
Meme coins’ prices have also mirrored an uptrend in sync with other coins’ prices today. Dogecoin (DOGE) price witnessed a 4% uptick and traded at $0.1610. Shiba Inu (SHIB) price followed, gaining 3% to $0.00001190. Pepe Coin (PEPE) was up by a remarkable 7% and rested at $0.000006204.
Top Crypto Market Gainers Today
Meanwhile, some coins have led the broader market gains today, capturing noteworthy investor attention as they signal a potential recovery-trend brewing.
Kaspa (KAS)
Price: $0.06836
24-Hour Gains: +16%
Celestia (TIA)
Price: $3.21
24-Hour Gains: +14%
Bittensor (TAO)
Price: $256.5
24-Hour Gains: +12%
Top Crypto Market Losers Today
Ethena (ENA)
Price: $0.3722
24-Hour Loss: -7%
Maker (MKR)
Price: $1,078.61
24-Hour Loss: -4%
TRON (TRX)
Price: $0.2229
24-Hour Loss: -3%
Overall, the broader market’s rising action has sparked considerable hope among traders and investors about a potential price recovery cooking. Nevertheless, it’s worth considering the highly volatile nature of digital assets could soon bring riveting movements back into action.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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