SOL is up 14% as this GambleFi newcomer takes the online casino industry by storm.

adminDecember 9, 2023

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Solana’s price has surged more than 14% in the past 24 hours, trading at $71.8 as of 5:20 a.m. ET, driven by a 95% surge in trading volume.

For several reasons, the project’s tokens have been attracting buyers over the past few days.

One reason is Bitcoin’s price rally, which saw the oldest cryptocurrency hit resistance at $44 and helped strengthen the overall market.

Fund management giant VanEck also recently expressed optimism about Solana, predicting that Solana’s chain will be one of the top three blockchains by market capitalization, TVL, and active users by 2024.

Another reason for the surge could be the approaching airdrop season in the Solana ecosystem. The JITO airdrop has already made waves in the project ecosystem, but the Kamino Finance and Celestia airdrops are yet to arrive and the hype surrounding them is growing.

Apart from that, it is also worth noting that SOL was recently endorsed by Arthur Hayes, the founder of Bitmex, and he expects the coin to reach $100 soon.

Who’s ready for a weekend away? alt szn green doji piss up? Shall I send it to you? $SOL Over $100? Let’s do it family 🫡🫡🫡🫡🫡🫡
— Arthur Hayes (@CryptoHayes) December 5, 2023

Solana price prediction amidst optimistic predictions

The price of Solana rose significantly from $62.5 to $72.66 in the last 24 hours. Currently, the resistance at $72 is hindering the progress of the coin and the price is rejected whenever it tries to approach or cross the resistance.

However, fundamental and technical signs indicate that SOL price may soon break this resistance line and move higher.

As mentioned, the coin has drawn optimistic predictions from some respected and trusted names in the industry, including the founder of Bitmex, who believes SOL could reach $100.

The upcoming airdrop will offer free tokens to those who hold SOL, so it’s likely that more users will try to get their coins before then.

Wide Bollinger Bands also suggest that demand for the token is quite high, which is a bullish signal showing that buyers are willing to pay higher prices to obtain the token.

SOLUSDT December 8

However, it is worth noting that the project’s Relative Strength Index (RSI) score is approaching oversold territory.

This means that SOL may recover slightly before rising again. As of now there are two possibilities: The first is that if the bulls dominate the market, SOL will soon reach its primary target of $77.

Alternatively, SOL could see a correction towards the sub-$60 range before bouncing back, which could open an opportunity for investors to buy the dip.

Either way, the market is showing enough strength that SOL could soon surpass the current $72 resistance.

A promising alternative to Solana

Solana will bring significant profits to token holders, but other projects may surpass it in the coming months.

The project in question is TGCasino (TGC), an upcoming cryptocurrency casino that aims to become the exclusive destination for online anonymous gambling using digital currencies.

The project is fully licensed and aims to offer multiple rewards, including staking rewards and a 25% cashback on any losses experienced by gamblers when using the project’s native TGC token.

Therefore, the project will offer both passive rewards for staking and active rewards for those who enjoy gambling.

Have you ever dreamed of participating in a casino? Where can players play your most popular games like Wanted Dead and Wild?
It will soon be possible! $TGC Holders receive exclusive rewards and benefits through token staking! pic.twitter.com/6wtRMM0hZS
— TG Casino (@TGCasino_) September 19, 2023