Ahead of Unlocking 524.03 Million Tokens, SOL Price Drops

 

Solana will unlock tokens worth over $81 million in October. However, Solana's price is currently falling. Read the full analysis in this article.

Solana is preparing to unlock tokens with more than 524 million tokens. However, Solana price now it is now decreasing. This situation makes SOL investors ask to be vigilant. The reason is, there are many major tokens that will also unlock tokens in the same month as Solana.

Read the full explanation of the current SOL price conditions complete with technical analysis.

Current Solana Price

The price of Solana to USDT is currently at $148.45 due to a decline of -5.31%. This price looks small not only in the 24 hours that SOL was trading at its highest figure of $157.32, but it is also very down compared to SOL's performance in Q3.

In early August, SOL was at $193, and then in early September, Solana also experienced an increase of up to 25%. This increase rate far exceeds the increase rate for BTC and ETH.

It can be seen from the Solana price chart above, several Solana indicators show unsatisfactory conditions. For example, the RSI indicator is currently at 40. This means that Solana is currently experiencing a selling trend that is greater than the buying trend. If this RSI number falls again, overselling occurs on the SOL token.

Solana's MACD indicator also fell from the cut line with the two lines quite far apart. With these conditions, a bearish trend for SOL tokens is in sight.

Unlock Token SOL di Oktober

The fall in Solana prices accompanies news of preparations to unlock SOL tokens this October. Reportedly, Solana will unlock up to 524.03 million tokens with a value of $81.56 million. This amount represents 0.11% of Solana's existing supply. 

The unlock value of Solana tokens may seem small compared to the total supply, but Solana's market value will be affected. Moreover, in the same month, there will be many main tokens that will also unlock, such as ADA, ENA, SUI, ZETA, DYDX, MAV, SEI, WLD, NEAR, and AVAX. In fact, the token that will be unlocked in the next 7 days in early October is reportedly worth $735 million.

That way, Solana investors of course have to be alert to the price of Solana which could be affected by the token unlock that will be carried out later.

Conclusion

Information regarding the current decline in Solana prices has been explained above. You can do more in-depth research about Solana, starting from the current Solana price conditions, convert SOL to USD, how to buy Solana, to various news about Solana projects that are being or will be carried out only on the Bitrue website.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

This press release has also been published on VRITIMES

Bitcoin Price Predicted at $70,300, #Uptober Still Positive for BTC?

 

Currently, Bitcoin price is decreasing. However, crypto analysts predict that Bitcoin will experience a short squeeze. How is the explanation? Read this article until the end. 

There is a reason why Bitcoin is called the king of crypto. Not only because BTC was the first token created, but also because over time, Bitcoin price reliable.

Today, Bitcoin is indeed red, just like the majority of other crypto tokens. However, crypto observers predict that Bitcoin will experience a significant increase this October.

Is that true? Let's look at the explanation in this article.

Current State of the Crypto Market

When this article was written on October 8 2024, the crypto market situation was not good. The majority of crypto tokens have experienced price declines, including Bitcoin.

This condition is quite worrying because October should be a month with good news for crypto token holders. However, #Uptober was eliminated when the conflict between Iran and Israel heated up on October 1. This is because the crypto ecosystem is very reactive to conflicts between countries.

At the moment, BTC price is also still experiencing a decline of -2.04%. Bitcoin's price was %62,366, quite a drop compared to its 24-hour high of $64,473.

Trust in Bitcoin Still Very High

Among investors, whatever the investment instrument, there are investment strategies that are believed to provide maximum profits. This strategy is to provide the investment product when the price falls.

This strategy is widely used by crypto token holders. When Bitcoin prices fell recently, many large companies bought up BTC, such as MicroStrategy and Metaplanet from Japan.

This press release has also been published on VRITIMES

XRP Price Drops 4.01% after Unlocking 1 Billion Tokens and Latest News on XRP ETF

There has been a lot of news about XRP these past few days, from Bitwise's XRP ETF application, support from a major Turkish bank, to the unlocking of 1 billion XRP tokens. How does this affect the price of XRP? Here's the explanation.

There is various news about XRP at the moment, starting from the routine token unlock at the beginning of every month, support from large Turkish banks, to updates to the XRP ETF. However, of these three pieces of news that should be encouraging, XRP price decreased.

How could this happen? Is this decline significant enough and could it affect the price of XRP in the future?

XRP News This Week: from Delaware to Dubai

Good news for XRP token holders. The reason is, at the end of last September, the second largest bank in Türkiye officially provided support for XRP. The bank is called Garanti BBVA.

Since this news dropped, various predictions regarding the price of Ripple XRP have occurred. EGRAG, a leading crypto analyst, predicts that the price of XRP could rise up to 10,000% with a possible decline of only 72%.

In addition to support from major Turkish banks, on October 1, Ripple also received principal financial services license approval in Dubai. That way, Ripple can more easily offer crypto payment services in the UAE area.

On the same date, as a routine ritual that XRP usually carries out, a large number of tokens were unlocked. XRP unlocked 1,000,000,000 tokens with a value of more than $560 million.

In terms of the XRP ETF, which has attracted attention since the first news appeared, now there have also been developments. Bitwise has officially stated in the filing of an XRP ETF application in the state of Delaware. This application was leaked to the media when the Delaware State Division of Corporations website listed this application on September 30.

Current XRP Price Chart

With the various good news about XRP above, the price of XRP has decreased. Currently, XRP is trading at $0.6019 with a trade of 4.01%. However, in the last 24 hours, XRP touched its highest price, namely $0.6342.

Further analysis according to the image in the XRP price chart taken from the Bitrue market above, currently the RSI value of

With a greater buying trend, it is only natural that the price of XRP experiences a decline. The MACD indicator also explains things in harmony as the descending line crosses the boundary line. If it goes down further, an XRP bearish trend will occur.

Conclusion

What do you think? Will the Ripple ETF's journey be smoother than the BTC ETF and ETH ETF which are full of twists and turns? And can the XRP price stabilize and then touch the resistance price?

You can get various latest XRP news updates by accessing the Bitrue website. At Bitrue, you can even get access to various features so you can do in-depth research and get further consideration when you want to buy XRP tokens.

You can even check prices XRP to USD on the Bitrue website. That way, you don't need to change websites because Bitrue has many features that you can use for free!

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

This press release has also been published on VRITIMES

How Will Iran's Attack on Israel Impact Bitcoin Prices? Here's the Explanation

  

On October 1, Iran launched an attack on Israel with 180 missiles. The attack caused the majority of crypto token prices to fall. So, what about the price of Bitcoin? Here's the explanation.

Recently, the world has heated up again due to Iran's attack on Israel. This conflict causes various investment instruments to experience price changes. Specifically, gold increased along with rising oil prices due to the conflict in the Middle East. So, what impact will Iran's attack on Israel have on Bitcoin price?

You can see the development of Bitcoin prices after Iran attacks Israel and what the condition of the token price is now in this article. Read the detailed explanation until the end of the article.

Impact of Iran's Attack on Israel on Bitcoin Prices

October has just begun and the world already seems chaotic. This was due to 180 Iranian ballistic and hypersonic missile attacks on Israel on Tuesday, October 1. Just after this attack, the crypto ecosystem immediately reacted. Almost all crypto tokens are colored “red” in response to tensions between the two countries.

This price decline was also experienced by BTC. Bitcoin prices fell quite drastically with a percentage decline in the range of 2-3%. In fact, on September 30 Bitcoin touched $65,000 after experiencing a long decline.

It is reported that BTC will also experience an increase in October after feeling it in September. However, due to the Iran-Israel conflict, these hopes were dashed.

Bitcoin and Its Response to World Conflict

Bitcoin does have an unfavorable trend in its response to world conflicts. Bitcoin tends to experience a decline when conflicts between countries arise.

As during the conflict between Russia and Ukraine in 2022, Bitcoin even experienced a decline of up to 7.9% and the price plunged below $35,000. Bitcoin even had a negative impact during the geopolitical conflict between the United States and China in 2018 and 2020.

However, Bitcoin once gave a positive response, namely when North Korea conducted a nuclear test in 2017. At that time, the price of Bitcoin soared with a continuous upward trend.

Current Bitcoin Price Chart

At the moment, harga BTC to USDT indeed experienced an increase of 1.16%. Although the price is still below $63,000, the increase is quite encouraging. The BTC token RSI indicator shows a number above 50, which means that currently, the buying trend is slightly dominating over the selling trend.

The positive Bitcoin RSI number is also reflected in the MACD line. It can be seen that the BTC MACD indicator is trying to rise above its limit line. This means that if the line continues to hold and is sustainable in its increase, a BTC bullish trend will occur and the price of Bitcoin will experience a sustainable increase.

Conclusion

The explanation of the impact of Iran's attack on Israel on Bitcoin prices has reached its end. Even though it is enough to make the majority of investors worry and temporarily switch to traditional investment instruments, Bitcoin's price is showing its strength again.

It is best to watch out for the high volatility of crypto tokens both positively and negatively. This is why we must conduct in-depth research when investing in the crypto ecosystem.

If you are currently doing independent research on Bitcoin to find out what its current condition is, Bitrue can help you. Bitrue has various features that you can use for independent research, starting from checking prices in real-time, finding out price conversions from BTC to USD, to articles that you can check to find out about current developments in crypto trends.

That way, you will understand about how to buy Bitcoin overall. Also, adjust your financial capabilities in determining how you invest in BTC and other crypto tokens.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

This Press Release has also been published on VRITIMES