Bonk (BONK), the Solana-based meme coin, faces the risk of further price decline after dropping from $0.000025 to its current value of $0.000019.

Although some traders might view this dip as a buying opportunity, analysis suggests caution. Here are the reasons.

Market Interest in Bonk Dwindles

Bonk’s social dominance is one factor suggesting that the meme coin could struggle to recoup some of the lost gains. Social dominance measures the rate of discussion related to a cryptocurrency.

When it increases during a price decrease, it means that the market could be looking at buying the cryptocurrency. In that instance, the price has a good chance of increasing. On the flip side, a decrease in social dominance means that the broader market is overlooking the assets and possibly eyeing other cryptos to buy.

In BONK’s case, social dominance dropped, suggesting that mentions of the meme coin have decreased on several social media platforms. This decline indicates that demand for BONK could be waning, and a price increase might not occur in the short term.

Read more: How to Buy Solana Meme Coins: A Step-By-Step Guide

Additionally, the Chaikin Money Flow (CMF) on BONK’s daily chart has dropped below the zero signal line, now at -0.10. The CMF measures accumulation versus distribution, with an increase signaling higher buying pressure and potential price growth, while a decrease suggests the opposite.

For BONK, the CMF’s current reading indicates that market participants are distributing the coin, possibly taking profits from recent price gains. If this trend continues, BONK’s price could experience further declines.

BONK Price Prediction: Still Bearish

Currently, BONK is on the verge of falling below $0.000019. The decreasing trading volume around the token indicates a lack of strong buying pressure, making it difficult for the meme coin to gain momentum.

If this trend continues, BONK’s price could drop to $0.000017, a historically weak support level. In April, when BONK hit $0.000017, the downtrend intensified, driving the price down to $0.000014. A similar scenario could unfold, with BONK potentially dropping by another 20% to $0.000014.

Currently, BONK’s price is on the brink of falling below $0.000019. The chart below shows that the trading volume around the token has been decreasing, suggesting that it could be challenging for the meme coin to experience solid buying pressure.

If this remains the same, the meme coin’s price might drop to $0.000017. But that level has historically proven to be a weak zone for BONK. For instance, in April, when Bonk hit $0.000017, the downtrend intensified as the price hit $0.000014.

Read more: 11 Top Solana Meme Coins to Watch in October 2024

However, if meme coin prices rise again, this bearish prediction could be invalidated. In that case, BONK’s price might climb to $0.000024 and potentially reach $0.000032 before the end of the year.

The crypto ETF market is expanding at an alarming rate, with news of a second XRP Exchange Traded Fund (ETF) filing spreading across the space. Canary Capital, a boutique Sydney investment and corporate advisory firm has just filed an XRP ETF, following Bitwise’s lead. With the new ETF filing, the price of XRP could see a possible change in the future. 

Canary Capital Files New XRP ETF

On Tuesday, October 8, Canary Capital submitted an official S-1 filing for an XRP ETF with the United States Securities and Exchange Commission (SEC). This filing comes just after Bitwise, another top asset management company filed for an ETF on September 30, marking the first ever XRP–based ETF in the crypto market. 

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According to Canary Capital’s new filing, the Trust’s investment goal is to provide direct exposure to the value of XRP, enabling investors to access this cryptocurrency’s market through a brokerage account. Through this method, Canary Capital intends to limit the potential barriers to accessing the market and reduce the risks involved in acquiring and holding XRP. 

Canary Capital has also stated that it aims to track the performance of XRP in the market, as measured by the Trust’s Pricing Benchmark. This pricing benchmark will utilize a similar methodology to the real-time price of the Chicago Mercantile Exchange (CME) CF Ripple index. 

While divulging the objectives and risk factors associated with an XRP ETF, Canary Capital failed to disclose the identity of the custodian for its potential XRP ETF. The investment management company also did not provide details on the ticker to be used for its XRP ETF, however, revealed that the Trustee for the investment product would be the Delaware Trust company. 

Despite the optimism Canary Capital’s new XRP ETF filing has generated in the crypto community, both its application and Bitwise’s still require approval from the SEC before they can launch in the market. 

Presently, the likelihood of a swift approval appears low, considering Ripple’s ongoing legal battle with the regulator. Earlier this month, the US SEC submitted a new appeal to challenge the court’s July 2023 ruling that programmatic sales of XRP are not considered securities. 

XRP Price Falls As Regulatory Uncertainty Clouds Optimism

Despite Canary Capital’s new XRP ETF filing, the price of XRP has been on a downward trend, showing no signs of moving out of bearish momentum trends. CoinMarketCap’s data shows that XRP has fallen by 0.72% in the last 24 hours and another 0.79% over the past week. 

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The cryptocurrency has been in the red for the past few weeks, only seeing slight gains when market conditions turn significantly favorable. With the new XRP ETF, many would expect the XRP price to rally, as anticipation for the investment product builds in the crypto space. However, XRP is still consolidating around the $0.5 mark, even experiencing a decrease in its 24-hour trading volume. 

It is clear that XRP’s bullish momentum has been completely overshadowed by regulatory uncertainty and negative sentiment. Despite this, many in the XRP community continue to maintain a positive outlook, expecting the price of XRP to break out to the upside soon. 

Featured image created with Dall.E, chart from Tradingview.com

The cryptocurrency market has witnessed a positive growth surge, and in conjunction with this, Rexas Finance (RXS) has increased by over 100% in less than a month. With its cutting-edge technology for the tokenization of physical assets and an expanding ecosystem, some people are starting to wonder: Is Rexas Finance the new Solana (SOL)? There has always been a question of whether RXS could emulate the same skyrocketing increase as Solana. This necessitates studying the curve of SOL, identifying the key factors of its success, and considering why Rexas Finance might be able to replicate, if not exceed this level.

The rise of Solana (SOL): A blockchain revolution

The use of Solana’s programming language is graphical in nature, and thus the UI elements may match ideas from vocabulary techniques. The graph of Solana (SOL) has largely revolved around being one of the most effective storytelling platforms within the cryptocurrency space. Starting from $1.50, Solana’s currency progressed remarkably in 2021 to hit $260, marking more than a seventeen thousand percent growth. 

Its growth was additionally helped by a very efficient blockchain capable of processing thousands of transactions per second at very low transaction costs. As a result, Solana provided stiff competition to Ethereum. 

Due to its quick, scalable, and secure network, Solana managed to attract developers, DeFi projects, and NFT marketplaces in no time, enabling it to rank as one of the top 10 cryptocurrencies. With the support of leading investors and growing interest, Solana quickly entered the geopolitics of the crypto world as a quick and cheap version of its competitors’ blockchains.

Will Rexas Finance (RXS) find a sustainable model like Solana did?

While Solana made efforts to enhance the scalability of the blockchain, Rexas Finance (RXS) is making a play for a different, but probably equally large, opportunity: the focus on asset tokenization. 

This new area gives cryptocurrencies access to a huge market by creating tokens for assets like real estate, gold, hiring goods, and other expensive physical products that cannot be traded as currencies. Rexas Finance is set to change the way and cost at which real-world assets (RWA) are tokenized. 

The global market for real estate is over $280 trillion. Investing in ways to map expensive physical assets like real estate and gold onto the blockchain can now provide real returns on investment.

RXS has been in the market for a little under a month but has seen its price surge above 100% within that time—a positive sign for the returns it offers to its consumers. If this project holds to this same growth trajectory, it could potentially offer similar returns to Solana, potentially rewarding its early investors with windfalls.

Rexas Finance ecosystem: Enhancing stakeholder value

The most fundamental reason for Solana’s success is attributed to the presence of an active ecosystem of both developers and users. In the same way, Rexas Finance has created an ecosystem that addresses the problem of real-life asset digitalization and adds value for investors.

Some exceptional highlights of how the Rexas Finance ecosystem works include:

1. Rexas Token Builder: This tool enables individuals and organizations to issue and sell their own tokens based on real-world assets. Whether it’s real estate developers sourcing funds for a building through tokenization or individuals selling fractional ownership in their collections, the Rexas Token Builder offers a simplified approach to the tokenization of assets.
2. Rexas Launchpad: Investors can buy equity stakes in projects backed by the tokenization of project assets in the form of shares. Rexas Launchpad brings together asset owners and investors from all over the world, replacing traditional systems of fundraising with promising decentralized methods of financing projects.
3. Rexas Estate: One of the key features of the platform is real estate tokenization, which allows investors to own a stake in properties. This facilitates liquidity in real estate and lowers the entry barrier to this class of high-end investments.
4. Perpetual Intentions: Since solving real-world problems is central to Rexas Finance’s long-term vision, it echoes Solana’s accomplishment with its fast blockchain network. It is projected that as more assets become tokenized and join the platform, the supply and pricing of RXS will perform well.

Why Rexas Finance is getting the attention of huge investors

Rexas Finance is not only gaining attention from retail investors—crypto whales and institutional investors are noticing it too. In fact, during its Stage 3 presale, Rexas Finance raised over $2.75 million when demand was high. Now, Stage 4 has been activated, providing tokens for $0.06 each. 

Many investors are rushing to get RXS due to its practical use and the massive total addressable market (TAM) it taps into. Moreover, some analysts believe that from the current presale stage, RXS could appreciate to $50, which would make RXS one of the best investment opportunities in the crypto investment space today.

Additionally, Rexas Finance has organized a $1 million giveaway competition, which is already stimulating even more interest in the project and provides an extra incentive for early investors. 

Conclusion: Some analysts believe Rexas Finance could follow in Solana’s footsteps

While Solana has already made its mark as one of the best blockchains globally, Rexas Finance (RXS) seems to be making waves in the tokenization of real-world assets. Rexas Finance could be poised to transform asset ownership and exchange by bridging conventional industries worth trillions, such as real estate and gold, with blockchain technology. 

Having achieved over 100% growth within a month and cultivated a thriving ecosystem of use cases, Rexas Finance could arguably become the next big success, similar to how Solana was portrayed in its infancy. As more attention is directed toward this project and large investors continue to place their hopes on its future, RXS’s dominance seems within reach. For anyone wanting to get in early, Stage 4 of the presale is still live, and tokens are offered for $0.06. 

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance