The Solana price has jumped by nearly 1% in the past hour, with its move to $22.37 also representing a 0.3% gain in the past 24 hours.
SOL’s movements come as the Solana blockchain enjoys heavy traffic coming from new space exploration video game, SAGE Labs, which has seen transactions rise to one million per day.
Such activity has helped reinforce the bull case for Solana, with SOL now up by 24% in the last 30 months and by 124% since the beginning of the year.
And with SAGE Labs likely to raise demand for SOL, the altcoin could see more gains in the very near future.
Solana Price Prediction as Viral Game Makes Up 15% of All Transactions on Blockchain – Time to Buy SOL?
Despite the entire market suffering a comedown earlier this week, SOL’s chart and indicators continue to look promising, suggesting that the token could rebound back up quickly.
Interestingly, SOL’s 30-day exponential moving average (yellow) has very recently risen above its 200-day average (blue), a move which can signal the beginning of a breakout rally.
Also promising is the coin’s relative strength index (purple), which is rising again towards 60 after dipping earlier in the week, another change which indicates rising buying pressure.
Rounding out this set of positive indicators is SOL’s support level (green), which has been rising strongly in the past few weeks, providing the coin with an increasingly high base from which to launch new rallies.
The technical picture therefore looks very encouraging for Solana, yet the coin also boasts good fundamental reasons as to why it could begin rising vigorously very soon.
As noted above, last month’s launch of new space-themed game SAGE Labs has resulted in transactions surging on Solana’s blockchain, with the game accounting for as much as 15% of all Solana transactions.
As the tweet above reports, transactions rose as high as 2.29 million on Monday, with SAGE Labs processing nearly all of its interactions on the Solana blockchain.
As such, SAGE Labs’ growing popularity is only going to make Solana more popular in the longer term, and with the game currently accommodating only 1,400 active players, there’s still more room for growth for the title.
It’s also worth pointing out that SAGE Labs’ launch marks a promising period of expansion and consolidation for Solana, which most notably saw its blockchain being added to Visa’a stablecoin pilot last month.
Based on such growth, SOL is likely to continue rising in the next few weeks, with the coin potentially on course to reach $30 by December.
Other Strong Altcoins
All of the above arguably makes Solana one of the strongest altcoins in the market right now, yet it’s not only promising alt available to traders at the moment.
Indeed, this year has seen a crop of new and high-performing alts, with certain presale tokens (e.g. Wall Street Memes) doing very well after listing on exchanges for the first time.
And the latest potential high-performing presale coin is TG.Casino (TGC), a decentralized casino platform that combines popular social messaging app Telegram with online gambling.
TG.Casino’s token offering has already raised more than $700,000, which is highly impressive insofar as the sale has been open for only a couple of weeks.
This rising figure offers a clear indication of the interest TG.Casino is attracting from investors, who are seemingly being won over by the platform’s wide selection of video games and casino experiences, as well as by the harnessing of Telegram as a source of supporters and users.
Indeed, TG.Casino’s embedded use of Telegram has provided it with an edge over its rivals, while it’s also pleasing to note that the platform has actually already launched.
Its native token, TGC, comes with a hard cap of 100 million, with 40% of this available through its presale, 20% reserved for staking rewards, and 10% for gaming rewards.
Investors interested in the presale can go to the official TG.Casino website, where they can connect their wallets and buy as much TGC as they like.
1 TGC will cost $0.125 for the entire sale, yet the inevitable exchange listings will likely push this price up much higher.
Visit TG.Casino Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Read the full article here
