Solana’s price movements over the last few months have been a real rollercoaster ride. We’ve seen everything, from enormous losses to bullish spikes.
Now, even despite some shortcomings in the past two weeks, Solana manages to hold the $20 mark and resist any bigger downturns.
Industry experts took this as a good sign and believe that upcoming technology such as xNFTs on the rising Backpack wallet (connected to the SOL blockchain) will spark new bull movements.
Let’s go through the details.
Solana Showing Bullish Indicators for 2023 – Further Price Pumps Expected
Ever since it was founded in 2017, Solana has been dubbed as “Ethereum’s biggest rival”, and for good reasons.
Its technology is nothing short of spectacular – faster transactions than Ethereum, hosts thousands of robust scalable apps, unique use of the Proof-of-History (PoH) mechanism… the list goes on.
It didn’t take long for Solana to reach the top of the crypto leaderboard and establish itself as a household name. However, it was one of the cryptos that endured the most damage from the 2022 bear market.
One of the biggest price drop catalysts was the crash of FTX, which was one of Solana’s main supporters.
Sam Bankman-Fried was always a loud advocate of Solana and even called it “the most undervalued cryptocurrency” sometime before the crash. Furthermore, FTX held a huge number of SOL tokens in its deposits.
All of this caused Solana to drop by over 90% toward the end of 2022.
But now, things have taken a positive turn with Solana recording an 80% recovery over the last couple of weeks and finally crossing the $20 target once again.
Aside from the general bullish trend in the market, SOL’s price movement was also influenced by the Solana-based meme coin BONK, which saw huge returns at the start of January.
Now, with the Solana-related Backpack multi-chain wallet coming out soon, experts believe we’re in for some solid returns in the next few months.
However, these alternative tokens are forecasted to bring much bigger gains in the upcoming period.
Meta Masters Guild (MEMAG)
Meta Masters Guild is a mobile-based gaming guild that incorporates NFTs, blockchain, and Web3 elements, alongside an immersive game experience.
The focus is on creating fun and addictive games that leverage playable NFTs, allowing users to monetize their gaming experience.
Currently, we know about three games that will be released in the following months – Meta Kart Racers, Raid NFTs, and Meta Masters World.
This project is expected to bring at least 30x gains once it goes viral, but you don’t have a lot more time to get in – the presale will end in less than 24 hours as over $4.5M has already been raised.
Fight Out (FGHT)
We have a contender for the best M2E platform of 2023 (maybe even ever) – Fight Out.
Fight Out utilizes advanced movement tracking technology to provide users with the ultimate fitness experience and offers personalized regimes created by some leading trainers in the sports world.
Each user will receive a souldbound NFT that represents their body and progress once they join the platform and they will be able to show them off at real-world gyms in Q4 2023.
This gym chain launch will be one of the main catalysts that will cause a price explosion for FGHT, according to industry analysts.
Right now, you can get FGHT tokens for a huge discount at the ongoing presale.
RobotEra is an exciting new Metaverse-centred P2E game that is set to bring huge returns this year with its technological advancements.
There’s a lot going on in the ecosystem – from robot NFTs and several apocalyptic continents to trading land parcels and networking with other players.
TARO is the native token that powers up this robot Metaverse and it’s used as the primary currency for all in-platform activities.
You can get in early on the project and buy your first batch of TARO now in the live presale.
C+Charge is the platform EV drivers have been waiting for – it’s a P2P payment app that leverages carbon credits and NFTs.
Those who drive electric vehicles have been ignored by the eco-community for long enough and C+Charge is now looking to provide them with much-needed incentives for helping the environment.
EV owners will gain access to a C+Charge mobile app that shows them pre-determined charging stations where they will receive carbon credits for charging their vehicles.
As the greenest crypto of 2023, this project has huge profit potential and early investors are rapidly joining the presale as we speak.
Even though it was once considered its biggest rival, Solana has now dropped out of the race with ETH, with the leading altcoin expected to bring much bigger gains in 2023.
While Solana was going through hardships with the FTX crash, Ethereum has been working on advancing its blockchain network and is now leading by a huge margin.
And with the Shanghai upgrade on the way, it’s a good idea to keep an eye on ETH.
Solana’s future seems bright for 2023 and the latest updates seem to suggest that bullish trends will take place sometime in the following months.
However, experts suggest that we shouldn’t expect any huge gains from it.
If your goal is to make larger returns from investing, the best options in the market right now are presale projects like MEMAG, FGHT, TARO, and CCHG.
These tokens have 50x potential as each of them is bringing something completely new to the crypto landscape.