In the past month alone, reports about Solana ETFs have raised excitement in the crypto market. An investment firm known as GSR has estimated that the price of Solana could rise to $1,300 in the following few months if the securities regulator green-lights a SOL ETF.
On the other hand, Pepe’s loss is mounting after being one of the most bullish memecoins in the first half of the year. As a result, investors are moving to KangaMoon ahead of its long-awaited metaverse game, Kangaverse. Analysts predict that the launch could spark a 100% price rally for the KangaMoon coin, KANG.
Solana (SOL) Could Soar Past $1,000 Soon, Per GSR Report
The Ethereum killer, Solana (SOL), has been enjoying a lot of attention in the crypto market in the last few weeks. This comes after two investment giants, VanEck and 21Shares, wowed everyone by filing for a Spot SOL ETF with the US Securities and Exchange Commission (SEC).
Solana reacted positively to the news, climbing the price charts and crossing the $150 mark to set a weekly high of $154. However, the rally did not last. Still, analysts remain optimistic.
A recent report by cryptocurrency market maker GSR predicts the price of Solana could rise by 8.9x if the SEC approves a SOL ETF. If this happens, Solana coin could jump from its current value, $146, to $1,300 in the coming months.
Pepe (PEPE) Extends Decline
Pepe (PEPE), one of the top memecoins, has carried on its bearish momentum into July. Pepe Coin is trading at around $0.00001, down 30% in the past month, data from CoinMarketCap shows.
Using Coinglass.com data, it was noted that Pepe traders have both an optimistic and a pessimistic outlook. Long positions have decreased by 10.24%, suggesting that traders are not as optimistic about the price of Pepe increasing in the short term. If the Pepe coin price drops below the $0.00001 support, we could see a breakdown to $0.00000800.
KangaMoon Gaming Platform Coming Soon
A new gaming platform called Kangaverse is coming that will revolutionize the GameFi sector. The game, which will be created by KangaMoon, will feature different competitions and weekly challenges in which players can take part to win free coins and even real money. Those who do want to take part in the contests can also win coins by placing bets on potential winners.
KangaMoon aims to use this game to tap into the Play-to-Earn gaming market, which will be worth $88.6 billion by 2028. Going forward, KangaMoon plans to establish an NFT marketplace where players can buy NFT, a metaverse platform where they can interact, and a trading platform.
At the moment, there are certain successes which the KangaMoon ecosystem has made in the last few weeks. One of them includes its listing on popular price aggregating websites such as CoinMarketCap and CoinGecko in the crypto market.
Also, the KangaMoon coin has been listed on two exchanges Uniswap and BitMart and experts predict that there will be a price surge in the next two weeks. The KANG coin is now up by 170% on CoinMarketCap and the analysts are expecting the price to rise another 100% in the next few weeks.
In Summary
Momentum is building for Solana ETFs with two giants, 21Shares and VanEck, applying for a spot ETF with the US SEC, an action that pushed the price of SOL to a weekly peak of $154. GSR predicts Solana’s price could skyrocket to $1,300 if an ETF is approved.
At the same time, KangaMoon will be launching its gaming platform soon. Smart investors are already buying the KangaMoon coin ahead of Pepe, in anticipation of a major price increase.
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