Solana Price Nears $170 as eTukTuk Presale Hits $2M
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Solana is currently trading at $169.11, its highest price since January 2022. Its success is accelerating this month as it jumps 50%.
Meanwhile, ICO crypto eTukTuk is also causing a stir as it breaches the $2 million total raise mark.
Traders Back SOL After Ethereum Dencun Upgrade and Solana Ecosystem Continues to ThriveDencun, a widely anticipated Ethereum network upgrade, went live yesterday. The move aims to reduce transaction fees on the network’s L2 blockchains, enhance the user experience, and broaden L2 capabilities.
Some analysts anticipated this would be a “kill shot” for Solana, with lower fees helping the Ethereum ecosystem to dominate.
However, the market has favored Solana, with Blockgraze commenting that Solana is outpacing ETH since Dencun went live because it “didn’t really fix anything.”
Currently, Solana is up 11% in the last 24 hours. It is also up 22% this week, 50% this month and 730% this year.
Trader Vlad Stocia also noted Solana’s outperformance against ETH, citing the SOL/ETH price chart and highlighting a “beautiful breakout, after a decent amount of time that it has spent in a consolidation range.”
The breakout occurred following a falling wedge on the daily time frame. This chart pattern is synonymous with trend reversals to the upside, providing a promising outlook on SOL’s upcoming performance.
Adding to the excitement, Solana’s ecosystem is thriving, with analyst Dynamo Patrick highlighting that DEXScreener’s trending cryptos list is filled with Solana tokens.
“I went to Dexscreener and thought I had accidentally gone to the Solana page. Nope. Turns out the top 39 trending tokens right now are all on Solana,” he wrote.
Such momentum reflects Solana’s solidifying foothold within the market, helping bolster the SOL price. Yet, analysts believe it has much more room for growth.
“SOL has broken all major levels standing in the way of new all-time highs. I’ve been comfortably holding this one since $20, and I don’t plan on selling it anytime soon. New retail will flock to Solana tokens, and buying SOL is their entry ticket. Send it higher,” wrote prominent analyst Jelle on X.
Evidently, Solana looks poised for a significantly bullish trajectory. However, other altcoins also show significant potential. One of those is eTukTuk, recently hitting $2 million in its presale and backed to 10x by an expert analyst.
Trending Green AI Crypto eTukTuk Raises $2M and Offers 122% Annual Staking RewardsJoin the AI revolution with eTukTuk, the hottest green cryptocurrency on the market. Through its innovative approach, eTukTuk will place electric tuk-tuks and charging stations in developing countries worldwide, starting in Sri Lanka.
The initiative looks to minimize CO2 emissions, reduce carbon-related health issues, and eradicate financial disparity.
The market has embraced this compelling real-world use case, with the presale raising over $2 million. It has also been featured in top media outlets like Bloomberg, Yahoo News, Cointelegraph, and NASDAQ.
Analysts are also bullish, with Jacob Bury dubbing it the “Next 10x potential crypto.”
eTukTuk will harness novel AI technology for route optimization and vehicle predictive maintenance.
This real-world application of blockchain and AI exposes the project to various emerging narratives like AI and DePIN, providing significant price appreciation potential.
Yet, unlike many early-stage projects, eTukTuk is already making tangible and measurable moves. One is partnering with Sri Lanka’s largest privately held company, Capital Maharaja Group.
Another is launching its staking mechanism, which provides presale investors with a seamless way to compound their purchases. It currently offers a 122% APY, but this will decrease as the staking pool grows.
Adding to its utility, eTukTuk also features a Play-to-Earn taxi game, inviting users to step inside a high-octane gaming experience where they can earn $TUK rewards.