Solchat breaking out bullflag to hit $40!Solchat is a new communication protocol on Solana and they have achieved the first audio and video calls on the blockchain! Cofounder of Solana, Anatoly Yakovenko was so impressed that he shared the project multiple times and even went on the first ever video call with Solchat's founder.
The app already has over 2.2K users and just a month old. Integrations with Phantom (most popular wallet on Solana) and the Saga (Solana phone) are on the way.
This project is still priced ridiculously cheap at around a $130M market cap. It could easily hit over a billion market cap given the craziness in the Solana ecosystem - and to be honest: it would be well deserved! These guys are actually building something useful instead of another cat meme.
Price action is very bullish, Solchat just hit another ATH and is currently retesting the range. No tier exchanges have listed it yet but I do expect cex like Kucoin to come around soon - and you never know - given the volume, we might see Binance later this year too.
Solanaphone
Market Update - January 19 2024
Bitcoin consolidates around FWB:41K -$43k as ETF excitement settles: In the wake of the much anticipated approval of spot bitcoin ETFs last week, bitcoin (BTC) prices initially jumped to FWB:49K before suddenly dropping to FWB:42K as investors processed the news of approval and analyzed the data on the flows and volumes from the first day of trading. Since then, BTC prices have been muted, consolidating throughout the week, trading mostly in a tight range between FWB:41K -$43k since last Friday.
Spot bitcoin ETFs see more than $10 billion trading volume in first three days: Newly launched ETFs saw over $10 billion in trading volume in the first three days. Over the same period, net inflows came in around 21,000 BTC (just under $900 million), with Blackrock iShares Bitcoin Trust (IBIT) experiencing the largest inflows, reaching 16,362 BTC, and Grayscale’s Bitcoin Trust (GBTC) seeing outflows of about 25,000 BTC.
Ether remains strong against bitcoin: Ether (ETH) continued to gain on BTC since the approval of the first US-based spot bitcoin ETFs last week. The initial jump higher appeared to stem from the waning buzz around bitcoin ETFs and a shift of focus toward a potential spot ether ETF approval later this year. This was fueled further by Blackrock CEO Larry Fink stating “I see value in having an Ethereum ETF … these are just stepping stones towards tokenization,” in an interview last Friday.
Solana builds off Saga phone success with new smartphone: This week, Solana announced the “Chapter 2” smartphone, available for preorder starting at $450. The launch of the new phone is at least a year away, and details around the hardware and design of the product have yet to be released. Excitement is also building around Jupiter’s JUP token, set to launch on Solana at the end of the month.
Stocks flat as global interest rate outlook remains uncertain: US stock indices were flat this week as market participants adjusted their expectations on how early we may see the Federal Reserve start to cut interest rates. Retail data released this week showed that December spending accelerated at its fastest pace since September, raising doubts over how early rate cuts may come. The market is now pricing in a ~52% chance we see a cut in March, down from 70% a week ago.
🍐 Topic of the Week: Crypto Trading Pairs
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HNT Ballooning to new Heights - Potential Price TargetsHelium Network is an extremely promising venture, Not only due to its revolutionary vision but also its solid team and feverish community of supporters.
Solana Phone is likely to bring the price to new highs, very soon.
Here are my current price points for HNT
Support zone: 5.28 - 6.883
Resistance Level: 7.82
Target 1: 11.11
Resistance Level: 12.02
Target 2: 13.79
Helium (HNT) is a decentralized blockchain-powered network for Internet of Things (IoT) devices.
Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes.
Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT.
Helium’s goal is to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013.
BONK Tokens and SOL Phones: Why the Surge in Solana?The tl;dr of the recent surge in CRYPTOCAP:SOL and $BONK is the Solana Phone Rebate - the potential for buyers to make more money than the initial asking price of $599. Once the token drop of 30M that came with each purchase exceeded the cost of the phone itself, it created a frenzy that has driven the price of both coins at once.
The question is - will it last? Solana developers and core team members were airdropped enough tokens to make potentially millions if they manage to sell off at the right moment. This would be your classic rug-pull strategy, which the project is already known for due to past scandals. Or will things be different this time? Time will tell. 👀
