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Analyzing Solana’s recent surge and Remittix as another crypto to watch.
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Solana (SOL) is regaining strength after its blockchain experienced record-high DEX volumes on January 19. Although SOL is yet to hit the $300 price level, analysts are optimistic that the rally will continue for the next few weeks.
Meanwhile, another DeFi altcoin is dominating the headlines; the new Remittix PayFi protocol. By looking to simplify cross-border payments and remittances, Remittix is attracting thousands of new investors during its presale.
Solana continues rally amid increased demand
Solana reached a new all-time high price of over $290 on January 20 after the release of Donald Trump’s TRUMP token on its blockchain. After this rally, Solana’s price saw a minor correction though investors remain bullish. The SOL/USDT monthly chart also confirms the bullish theories as Solana recently broke out of a cup and handle pattern.
Solana’s social dominance has also peaked in the last seven days. With more conversations around Solana, analysts expect SOL’s price to increase because of high demand. Solana’s decentralized exchange volume also surpassed $27 billion on January 19, which was more than BNB Chain and Ethereum combined.
If the bullish trend continues, it could positively impact Solana’s price. Solana currently trades for $256.43 after a 24-hour increase of 16.82%. Since Solana’s Momentum Indicator reflects bullish dominance on the daily chart, Solana’s price could test the critical $300 resistance soon.
Remittix attracts massive capital inflows
Remittix is a PayFi altcoin designed to make cross-border payments simpler than ever before. In the early stages of its presale, Remittix has accumulated over $5.4 million, with a massive adoption rate.
Remittix’s appeal lies in its aim for seamless crypto
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Author: Guest Post
