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Why Solana Volume Could Be Key In Driving SOL Price Higher

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Solana (SOL) volume has risen to a three-month high of $8.33 billion following reports that Donald Trump is set to be announced the winner of the November 5 US presidential elections. This development also comes with a notable 11% price increase for the altcoin within the last 24 hours.

Will this significant increase have a greater effect on SOL’s price? This on-chain analysis checks whether the cryptocurrency’s value may continue to increase.

Interest in Solana Spike During US Elections

According to Santiment data, on November 5, before the elections began, Solana’s on-chain volume was less than $3 billion. However, as of this writing, the metric has risen by over 150%, indicating a notable increase in interest in the cryptocurrency

This rise also coincides with BeInCrypto’s forecast that the US elections could positively impact the price. At press time, Solana’s price has hit $183.84. From a trading perspective, when a cryptocurrency’s price rises alongside the volume,  it means there is enough strength to buck the trend.

On the other hand, falling volume during an upswing suggests that the trend is weak and that the price can retrace. Thus, if Solana’s volume continues to rise alongside the price, then SOL could climb well above the current value.

Read more: How to Buy Solana (SOL) and Everything You Need to Know

Solana volume rises
Solana Volume. Source: Santiment

Besides trading volume, Solana’s Open Interest (OI) has also seen a significant uptick. Currently, the OI stands at $2.51 billion, marking its highest level since October 30. High OI is often a signal of strong momentum behind the current market trend, whether bullish or bearish. 

On the other hand, a low OI indicates that fewer traders are actively involved in the market. Therefore, this increased OI reinforces the underlying price direction and makes it likely that the current trend will continue.

Solana open interest rises
Solana Open Interest. Source: Santiment

SOL Price Performance: Rally to Move Closer to $260

On the daily chart, Solana has formed a bullish flag pattern, a continuation setup that typically signals further upward movement after a brief consolidation. This pattern emerges when a strong upward price movement, or “flagpole,” is followed by a period of sideways or slightly downward action, forming a “flag” shape.

Following the bullish flag formation, SOL experienced a breakout above the flag’s upper trendline, which led to a notable rally. Should this trend remain the same, SOL’s price might break above the overhead resistance at $193.90.

Read more: Solana (SOL) Price Prediction 2024/2025/2030

Solana price analysis
Solana Daily Analysis. Source: TradingView

If that happens, the altcoin’s value could move much closer to the all-time high of $260. On the contrary,  a decline below the $161.81 support and Solana’s volume might invalidate this thesis. In that scenario, SOL’s value could drop to $141.98.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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3 Token Unlocks for the Last Week of February: PORTAL, ALT, NFP

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Token unlocks are events when blockchain projects release previously restricted tokens to the market. These events are carefully planned to manage market impact and volatility

Often, these token unlocks lead to notable price movements. Here are three major token unlocks scheduled for the upcoming week:

1. Portal (PORTAL)

  • Unlock Date: February 28
  • Number of Tokens to be Unlocked: 25.61 million PORTAL (2.56% of max supply)
  • Current Circulating Supply: 167.1 million PORTAL
  • Total Supply: 1 billion PORTAL

Portal is the native utility token for a cross‑chain Web3 gaming platform that unites gamers and developers across multiple blockchain networks. The upcoming unlock will release tokens from several rounds of allocation. 

For instance, the Team & Advisors allocation will increase by approximately 920,000 tokens, while the Treasury allocation will add around 3.31 million tokens. 

With three rounds still pending, this unlock could inject fresh liquidity into the market, potentially affecting price dynamics and incentivizing further ecosystem development.

2. AltLayer (ALT)

  • Unlock Date: February 25
  • Number of Tokens to be Unlocked: 240.80 million ALT (2.41% of total supply)
  • Current Circulating Supply: 2.55 billion ALT
  • Total Supply: 10 billion ALT

AltLayer is a decentralized protocol designed to help blockchain developers launch and optimize Layer‑2 rollups via its “restaked rollup” mechanism. The ALT token plays a vital role in staking, governance, and protocol fee payments. 

This unlock is distributed across several allocations: Foundation/Treasury, Protocol Development, Ecosystem & Community, Team, Seed Round, Strategic Round, and Strategic Partners. The significant token release will likely enhance liquidity and further support AltLayer’s scaling and security initiatives.

Previously in 2024, ALT saw a significant drop in price ahead of its $100 million token unlock. However, the upcoming unlock is significantly smaller, but market volatility should be expected.

3. NFPrompt (NFP)

  • Unlock Date: February 27
  • Number of Tokens to be Unlocked: 14.51 million NFP (1.45% of max supply)
  • Current Circulating Supply: 395.3 million NFP
  • Total Supply: 1 billion NFP

NFPrompt is an AI‑powered content creation platform for Web3, empowering users to generate and monetize digital art and NFTs using advanced AI tools. The native NFP token is used for staking, payments, contest participation, and governance.

In this unlock, allocations will come from the Short-Term Growth Fund, Long-Term Treasury Fund, Team, and Investors. This release will add fresh tokens to the circulating supply, potentially impacting the token’s liquidity and market sentiment.

Overall, these unlocks represent nearly $17.71 million worth of tokens entering the market this week. 

With fresh liquidity and increased participation in governance and staking, investors and community members should watch for potential price volatility and strategic shifts in each project’s roadmap.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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KAITO Price Drops After Failing to Break $2 Barrier

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KAITO’s recent airdrop surprised many, sparking initial excitement. However, the token is now struggling to maintain user interest—a common issue seen with other airdrops. The altcoin is down 7% in the last 24 hours, highlighting short-term selling pressure, but it remains up 60% since launch.

Currently, KAITO BBTrend is negative at -10.7, signaling persistent bearish momentum, while its ADX at 13.49 shows a lack of clear trend direction. With price movements fluctuating between potential support at $1.35 and resistance above $2, KAITO faces a critical moment to either consolidate gains or continue its downward correction.

KAITO BBTrend Is Stable, But Negative

KAITO BBTrend is currently at -10.7, reflecting a sharp reversal after reaching an all-time high of 10.8 just yesterday.

This dramatic decline marks a shift from strong bullish momentum to negative territory in less than 24 hours, indicating increasing selling pressure.

The rapid change suggests a bearish sentiment is taking over, as BBTrend turning negative often signals the start of a downtrend.

With KAITO BBTrend hovering around -10 and -11 for the last several hours, it highlights persistent weakness and a potential continuation of the bearish trend.

KAITO BBTrend.
KAITO BBTrend. Source: TradingView.

BBTrend, or Bollinger Band Trend, is an indicator used to measure market momentum and trend direction by analyzing the position and movement of prices within Bollinger Bands.

It fluctuates between positive and negative values, with positive readings indicating bullish momentum and negative readings signaling bearish momentum. With KAITO BBTrend currently at -10.7, the negative value suggests that selling pressure is dominant and downward momentum is likely to continue.

This bearish signal raises concerns about KAITO price stability, as the persistent negative trend could lead to further price declines if buying interest does not return to counter the selling pressure.

KAITO ADX Shows the Lack of Trend Direction

KAITO ADX is currently at 13.49, showing a sharp decline from 60 just two days ago and 45 yesterday. This rapid decrease indicates a significant loss of trend strength, suggesting that the previous momentum has faded.

ADX measures the strength of a trend regardless of its direction, and a drop of this magnitude points to weakening momentum and a potential shift to a neutral or undefined trend.

The current ADX level reflects a market lacking clear direction, which is consistent with the observation that KAITO’s EMA lines are very close to each other, indicating indecision among traders.

KAITO ADX.
KAITO ADX. Source: TradingView.

ADX, or Average Directional Index, is a technical indicator used to measure the strength of a trend rather than its direction. It ranges from 0 to 100, with values above 25 typically indicating a strong trend and values below 20 suggesting a weak or non-existent trend.

With KAITO ADX at 13.49, it signals that the current trend is extremely weak and lacks conviction. This low ADX value suggests that KAITO price movement may remain range-bound or choppy until a stronger trend emerges.

The absence of a clear trend direction, combined with closely aligned EMA lines, points to a period of consolidation or sideways trading for the altcoin.

Will KAITO Price Reach Levels Above $2 Soon?

KAITO reached an all-time high near $2 on February 21, but shortly after, it began to correct downward. This pullback suggests profit-taking or weakening buying pressure after hitting the peak.

If the correction continues, KAITO could test the support level at $1.35, a crucial point to maintain its bullish structure.

KAITO Price Analysis.
KAITO Price Analysis. Source: TradingView.

Should this support fail, KAITO could face a deeper decline, potentially dropping below $1.2 or even as low as $1.1, reflecting increased selling pressure and bearish sentiment.

However, if KAITO can establish a strong uptrend, it could reverse the current correction and surge above $2, challenging the resistance at $2.12. Successfully breaking this level could pave the way for a new all-time high, with the next target at $2.2.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Binance Founder CZ’s DEX Trade Sparks Rally for TST Meme Coin

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The Binance Smart Chain (BSC)-based meme coin, TST, has jumped nearly 50% in the past 24 hours, reaching a one-week high.

The price spike comes after Binance co-founder Changpeng Zhao (CZ) conducted his first-ever decentralized exchange (DEX) trade involving the token.

CZ Trades on a DEX for the First Time Using TST

On February 22, CZ executed his first-ever DEX trade, purchasing TST and providing liquidity.

He admitted facing difficulties since he had never used a DEX before, having always traded on centralized exchanges (CEX).

“I wanted to put a few BNB in TST liquidity pool, as a test. I had seen demos of Pancake before. It looked so simple. I thought how hard could it be? But I forgot my IQ level,” Zhou stated.

Despite stepping back from Binance’s daily operations, Zhou’s actions continue to shape market sentiment. His unexpected move has sparked speculation across the crypto community. Some users on X believe it hints at a potential new Binance-related product or initiative.

Meanwhile, the Binance founder stated that his goal was to contribute Binance Coin (BNB) to the TST liquidity pool, but navigating the unfamiliar interface proved challenging. Liquidity providers help facilitate trades and, in return, receive a share of transaction fees.

Blockchain analytics platform Lookonchain reported that CZ spent 1 BNB (worth $660) to acquire 5,388 TST. He later contributed 1,111 TST and 0.096 WBNB (worth $64) to the liquidity pool.

“I didn’t follow any video tutorials. I kinda wanted to see what a first experience would be like. As a noob, I have to say the DEX experience can be improved, a lot! The error messages don’t make any sense. There are probably bots trying to front run my public address (or any large transaction I suspect). And why can everyone watch what I was doing in real time?” CZ wrote on X (formerly Twitter).

Following his DEX trade, TST’s value surged by over 50%, showing how influential his involvement remains.

TST meme coin
TST Meme Coin Weekly Price Chart. Source: GeckoTerminal

However, the token still trades significantly below its all-time high of $0.47, recorded on February 9.

TST was initially launched as a test token by BSC meme coin deployer Four.Meme. CZ’s social media mention of the asset brought significant attention.

While some view it as an experimental trade, critics argue that his involvement inadvertently boosted engagement on the BNB Network.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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