Crypto bulls are attempting a comeback. Here are the altcoins that traders are keeping an eye on.
Solana News
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Bitcoin and even some altcoins are holding steady even as the U.S. Dollar Index steamrolls to a near 1-year high.
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The strength in the U.S. Dollar Index could keep Bitcoin and select altcoins under pressure in the near term.
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As per DefiLlama data, Solana’s TVL has decreased by 9.64% over the past month to sit at $358.96 million, while Base’s TVL has surged to $397.32 million.
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Bitcoin and the major altcoins are down from their weekly highs, but the bulls are trying to form a higher bottom, indicating buying on dips.
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Bitcoin and other cryptocurrencies are likely to witness a pick up in volatility following the Fed’s rate decision on Sept. 20.
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Crypto investment products have seen over $450 million in cumulative outflows over the past nine weeks.
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Bitcoin and select altcoins are attempting to make a comeback as traders expect the Fed to hold rates steady during its meeting this week.
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NFT marketplace Magic Eden believes that lowering the costs in NFT production creates an “easy access point” for new users to try NFTs.
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The recovery in Bitcoin and altcoins is facing selling at higher levels, indicating that the overall sentiment remains negative.
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Crypto traders are talking about the SOL price falling due to the risk of FTX selling its $1.06 billion Solana stake. Are they overexaggerating?
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Solflare co-founder Filip Dragoslavic said that the integration removes the “friction” that prevented potential users from entering the Solana ecosystem.
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Solana slid into the outflow column this week as Bitcoin’s outflows streak continued.
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The price of Solana has plunged as the market fears a large FTX sell-off; however, it seems unlikely that the now-defunct exchange will dump all of its holdings at once.
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Bitcoin remains stuck in a range, but certain altcoins are showing signs of breaking down in the near term.
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