Solana Reaches New Heights: What’s Next for the Crypto Market?
Crypto Report
March 18, 2024
DAILY MARKET OVERVIEW
Solana Meme Mania Continues
Welcome to another report Crypto Enthusiasts! Let's jump right into the market overview. 🚀
The market has been a bit of a snoozefest lately with some downside action, but don't you worry - we believe there's a rainbow at the end of this road. So keep those diamond hands strong and HODL on tight!
In other news, those crazy meme coins on Solana just keep on memeing! SOL hit a new all-time high, blasting past Binance Chain and even overtaking Ethereum in trading volume. The “Solana Casino” is really running the show these days!
However, not everyone makes it in the meme universe. Based on Data from Lookonchain, a meme coin trader on Solana lost $147k in 3 days trying to trade over 11 meme coins.
Some fun news today coming from El Salvador (you know the country using Bitcoin as their main currency) surprising everyone by revealing they have way more Bitcoin than previously thought - over $400 million worth stashed in a cold wallet. This was found out after President Nayib Bukele tweeted out their wallet address, and people immediately started donating BTC to the nation. Talk about a power move!
TWITTER SENTIMENT
Pepe Update
Let's hop to a quick Pepe update from the Frog King @MaxBecauseBTC himself!
Max is full of confidence that Pepe will keep leaping higher, but he's unsure if this bull cycle has one or two more big jumps left.
Despite Bitcoin's growing dominance, Max is amazed that Pepe has still managed a massive run. He expects an even bigger sprint once Bitcoin's Dominance begins to go down.
Solana In Trouble
Solana has experienced a large surge of traffic due to its massive growth in the meme sector.
However, this massive growth has led to issues with Solana, as stated by Nouveau: "Solana is pretty damn unusable right now," with many transactions failing making the chain slow and bothersome to use.
These issues could potentially mark the local top for Solana and open the door for traders to try out other chains, cough cough Base.".
Will Base Overtake Solana?
Coinbase's Base Chain has been quietly making moves in the shadows, achieving impressive results. Its total value locked, as well as daily active users, have seen massive growth.
We believe that Base is likely to absorb a lot of the volume from Solana and experience its own kind of Base season, with projects such as Brett, Aero, and Degen at the forefront.
NEWS OVERVIEW
Recent Crypto News
YOUTUBE INFLUENCER SUMMARY
DataDash - Critical Bitcoin & Altcoin Analysis | Price, Data & The Macro (18.03.2024 Summary)
Strap in! Nicholas from DataDash has been keeping a close eye on the markets, and he's got some juicy insights to share. Buckle up, 'cause it's gonna be a wild ride!
First things first, let's talk about Bitcoin. After an epic rally that saw BTC hit new all-time highs, our favorite digital gold seems to be running a bit out of steam. The moving averages, those trusty technical indicators, are now acting as resistance, and the market seems a tad overheated. But fear not, hodlers! A healthy correction of around 15-20% could be just what the doctor ordered before we blast off to the moon again.
Now, let's dive into the altcoin realm, where the real party's at! While altcoin dominance has held up relatively well, we're not quite seeing the explosive altcoin season we've all been dreaming of. The altcoin season index is still pretty low, suggesting that we've got some room to run before we hit peak euphoria.
But fear not, my fellow degen traders! DataDash believes that if Bitcoin can shake off this correction and keep climbing, we could be in for an epic altcoin rally that'll make your wildest dreams come true. Imagine the gains, the memes, the lambos! It could be a legendary cycle that'll have you counting your profits in multiples.
Of course, there's always a catch, and in this case, it's the good ol' macroeconomic conditions. Inflation is still a pesky little bugger, and if it keeps rearing its ugly head, the Fed might have to step in and rain on our crypto parade.
So, there you have it! Buckle up, HODL tight, and get ready for a wild ride through the crypto market!
Miles Deutscher - THESE Altcoins Are About To PUMP 1104% In 90 Days!(18.03.2024 Summary)
Miles has got the scoop on some juicy altcoin plays that could be absolute monsters this bull run. The name of the game? Layer 1 coins, baby!
You see, back in 2021, these bad boys were the real superstars, pumping over 1,000% in just 90 days. Tokens like Solana, Avalanche, and Phantoms were the talk of the town, and it looks like history might just be repeating itself.
Miles is betting big on this Layer 1 narrative, and he's got a whole lineup of potential gems for us. From the big guns like Solana and Avalanche to the riskier but potentially more rewarding plays like Sui, Aptos, and Fantom, he's covering all bases.
But wait, there's more! Miles is also digging into the ecosystems surrounding these Layer 1 coins. He's talking about allocating some of your capital into the projects built on top of these networks because if the ecosystem pops off, you could be looking at even bigger gains.
Now, Miles isn't just throwing darts here. He's breaking down the reasons why Layer 1 coins could be the real deal this cycle, from the demand for block space to the market's love for infrastructure plays.
And let's not forget about the retail FOMO factor. As crypto prices rise, more and more people are jumping back in, and they're gravitating towards the tokens that pumped hardest in the last bull run – which just so happened to be Layer 1 coins.
Of course, it's not all sunshine and rainbows. Miles is keeping it real and reminding us that dips and drawdowns are par for the course in a bull market. But that's when you need to get your shopping bags ready and load up on these Layer 1 gems at discounted prices.
So, there you have it, fam. Miles has served up a buffet of Layer 1 altcoin plays, complete with a side of ecosystem exposure and a dash of strategic accumulation advice.
The information provided in this newsletter is for general informational and educational purposes only. It should not be considered financial advice or a recommendation to buy or sell. Please consult a qualified financial advisor for personalized advice that considers your individual financial situation and goals.