The Solana price has risen by 1.5% in the past 24 hours, moving to $88.90 after telecoms giant Telefónica launched mobile hotspots powered by the Solana-based Helium Network yesterday.
SOL remains down by 10% in a week and by 22.5% in the last 30 days, yet it is still up by an impressive 280% in the past year.
And with Telefónica’s announcement yesterday underlining the usability and fundamentals of the Solana blockchain, it’s likely that SOL will continue rising healthily again once the current market-wide correction ends and traders become more bullish.
Solana Price Prediction as Tech Giant Telefónica Launches Solana-Based Helium Mobile Hotspots – Can SOL Reach $10,000?
After a decline over the past week or so, it now looks like the Solana price is about to begin a recovery, although its surrounding climate does remain uncertain right now.
Its relative strength index (purple) has risen back above 45 after dipping below 40 a few days ago, a sign that SOL is likely to resist significant falls at the moment.
Source: TradingView
Meanwhile, SOL’s 30-day average (yellow) has flattened out after several weeks of continuous growth, yet it also refuses to decline.
As such, it’s likely that SOL’s current support level (green) will hold up in the near term, providing the coin with a base from which it can mount future rallies.
It’s also positive that the coin’s trading volume remains just above $2 billion, a clear sign that interest in the token remains strong, strong enough to support incoming rises.
Still, the overall picture continues to look incredibly positive for Solana, which yesterday celebrated the news that telecoms firm Telefónica will be launching numerous mobile hotspots in Mexico that will be powered by the Solana-based Helium Network.
Telefónica and @novalabs_ launch a pilot of @helium mobile #hotspots in Mexico. This project offers an improved service for customers expanding coverage and allowing the offload of mobile data traffic on Helium’s wifi network.
Keep reading
— Telefónica (@Telefonica_En) January 24, 2024
This is massive news for Helium and Solana, underlining how the blockchain has considerable real-world potential.
Indeed, Solana’s very strong end to 2023 followed largely from healthy growth in usage, with NFT volumes in particular ballooning in the final few months of the year.
The growth in NFT sales has also continued into this year, underlining how the Solana price is likely to continue rising.
From its current level of $89, it could easily return to $100 in the next few weeks, before touching $200 by the summer.
New High-Return Alts
The only issue with SOL is that it’s very well-established token now, so may potentially not see the big gains this year it enjoyed last year.
If so, traders may consider diversifying into newer alts, with a wide variety of promising new alts and presale tokens currently showing strong potential.
This includes Bitcoin Minetrix (BTCMTX), an Ethereum-based stake-to-mine platform that has raised just over $9.2 million in its hugely popular presale.
#BitcoinMinetrix attains another remarkable milestone!
Surpassing $9,200,000. pic.twitter.com/Tlj6ACRT67
— Bitcoinminetrix (@bitcoinminetrix) January 25, 2024
Set for launch in Q2 2024, Bitcoin Minetrix enables users to mine BTC by staking the platform’s native token, BTCMTX.
By staking BTCMTX, users receive tokenized mining credits in return, which they can then use to pay for Bitcoin hashing power.
Funding Bitcoin mining will put them in line to earn a share of newly mined BTC, while staking will also provide a steady stream of new BTCMTX tokens.
Together, such sources of income promise to make Bitcoin Minetrix highly profitable, which explains why investors are jumping on its presale.
Exploring the differences between #BitcoinMinetrix and Traditional Cloud Mining!
Safety and Security: #BTCMTX: Decentralized, user-owned tradable #Tokens.
Traditional: Cash deposits required. pic.twitter.com/l1nHJE6BdT
— Bitcoinminetrix (@bitcoinminetrix) January 25, 2024
Investors can join the sale by visiting the official Bitcoin Minetrix website and connecting their software wallets, with BTCMTX available at a price of $0.0130 per token.
This will climb to $0.0131 tomorrow, yet even this higher price is likely to offer a considerable discount in relation to where BTCMTX may go once it lists.
The post Solana Price Prediction as Tech Giant Telefónica Launches Solana-Based Helium Mobile Hotspots – Can SOL Reach $10,000? appeared first on Cryptonews.
