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Solana Price Outlook: SOL Price to $300, What About Solaxy?

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Solana’s (SOL) price has been on a tear lately, and even the most experienced investors are doing a double-take.

SOL is now hovering around the $260 level after soaring in the past week, especially since the launch of Donald Trump’s Solana meme coin.

But it’s not just Solana’s rally that’s turning heads. New projects building on the blockchain are getting a lot of attention – with layer-2 solution Solaxy (SOLX) raising over $12.3 million ahead of its official launch.

Traders Bet Big on SOL and Potential ETF Approval

It’s been an excellent week for SOL holders.

The token is up 52% from last Monday’s low and was up as much as 72% yesterday before cooling off a bit.

But even after that dip, traders are still buzzing about SOL.

Spot trading volumes are up 10% to $32.2 billion, and derivatives traders are flipping bullish, with open interest on the rise.

Much of this excitement seems to come from talk about a possible spot Solana ETF.

We’ve seen spot Bitcoin and Ethereum ETFs shake up the market, and now Wall Street is wondering if Solana could be next in line for regulatory approval.

JPMorgan’s analysts are optimistic – saying a SOL ETF could bring in $3 to $8 billion from big institutions.

However, it’s not just about a potential ETF.

With Trump back as president, his crypto-friendly comments have investors feeling more confident about the future of digital assets, especially big names like Solana.

Is Solana About to Hit $300? The Case for Continued Growth

So, how high could the SOL price go?

The token nearly hit $300 yesterday, reaching $294 before selling off.

But this sell-off looks more like a natural correction than a dead end for SOL.

On the 1-hour chart, it seems like a classic bull flag pattern is forming, and today’s rebound lines up nicely with the 0.5 Fibonacci retracement level.

This often signals another surge is incoming.

Solana’s fundamentals are also looking solid, suggesting there’s plenty of room for SOL to hit (or pass) $300.

Inflation is down, and developers are having a much easier time building applications on Solana.

Plus, with upgrades like Firedancer set to boost performance, many believe the blockchain is about to enter a new era.

Then consider the growing interest from big institutions in Solana’s real-world asset (RWA) and stablecoin projects.

When you consider all these factors, the $300 mark starts to look less like a peak and more like just another milestone.

Solaxy Presale Passes $12M Mark – Why This Solana Layer-2 Is Going Viral Amid $TRUMP Mania

It’s not just Solana that’s grabbing investors’ attention Projects building on the Solana ecosystem are also seeing demand – especially layer-2 solutions like Solaxy.

Solaxy kicked off its presale in December and has already raised over $12 million.

History shows that layer-2s can be huge for early investors, especially when the market is hot and network activity is spiking.

A prime example is Arbitrum and its native ARB token, which exploded shortly after hitting exchanges.

Solaxy is launching at just the right time. As Solana’s price climbs following the launch of Donald and Melania Trump’s meme coins, there will likely be more demand for solutions that can help it scale.

Solaxy’s off-chain processing and transaction bundling are perfect for this. Plus, it also works with Ethereum, which opens the door to a lot more liquidity – a feature that’s been key for other successful layer-2s.

Right now, SOLX tokens are available in presale for just $0.001608 each.

NASS CRYPTO, a crypto YouTuber with over one million subscribers, is bullish on SOLX’s prospects – describing it as the “next evolution” in layer-2 tech.

He also praised Solaxy’s built-in staking app and its high annual yields.

Of course, there’s no guarantee of success when it comes to early-stage crypto projects.

But with Solana potentially heading to $300 and Solaxy going viral in presale, this layer-2 newcomer is definitely one to watch.

Visit Solaxy Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

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TL;DR

  • Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
  • Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
  • Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.

Large Withdrawals and Whale Activity

Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours. 

Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.

One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.

Major ETH Holders Offload Millions Amid Price Rally

In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.

A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months. 

Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578. 

Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.

Network Activity on the Rise

CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.

Ethereum (ETH) Tokens Transferred (Total)
Source: CryptoQuant

Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period. 

At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.

Ethereum (ETH) Staking Inflow Total
Source: CryptoQuant

In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.

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Massive DOGE Whale Activity Hints at $1 Breakout

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TL;DR

  • Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
  • A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
  • DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.

Price and Market Moves

Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion. 

Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.

On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.

Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.

Heavy Whale Buying and Large Transfers

As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community. 

Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.

Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.

Sentiment Building

Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding, 

“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”

With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.

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Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

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XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.

Technical Analysis

By ShayanMarkets

The USDT Pair

On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.

Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.

However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.

This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.

The BTC Pair

Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.

This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.

That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.

 

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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