Solana's price soars by 3% due to potential integration with Robinhood for tokenized US stocks for EU users. Meanwhile, a Solana-based layer-2 ICO is gearing up for a $34 million raise.

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Solana's value surged by a whopping 3% in the last 24 hours, trading at $152.39 as we speak, at 4:24 a.m. EST. The trading volume also soared 66% to a staggering $5.6 billion.

This price boost can be attributed to Robinhood's new endeavor - a blockchain-based platform enabling European retail investors to trade US securities like stocks. This platform will explore tokenization through Solana and Arbitrum. In the words of Robinhood CEO, Vlad Tenev, tokenized securities have the potential to boost US market dominance globally.

Eyeing $180 for SOL

Solana's brief stint in bear territory back in April saw a significant bounce, followed by a steady climb that breached critical Fibonacci retracement levels. As GeckoTerminal data shows, Solana currently consolidates in a tight range just below the 0.786 Fib level near $153.33, hinting at potential accumulation. The pattern seems to be developing into a bullish flag or pennant, a typical continuation pattern suggesting ongoing growth.

With the 50-day Simple Moving Average (SMA) at $134.19 being successfully regained and now serving as dynamic support, the bullish sentiment is further solidified. Yet, the 200-day SMA at $180.98 remains a crucial medium-term resistance to keep an eye on.

The Relative Strength Index (RSI) sits at 62.05, remaining in bullish territory but not yet showing signs of overbought conditions, pointing to further room for price appreciation.

Solana could target $153-$155 resistances in the coming days. If these levels are broken through, expect SOL to head towards the 200-day SMA around $181, with potential for further growth towards the $188 mark. On the other hand, failure to hold onto $140 could lead to a pullback towards the 50-day SMA at $134 for a retest of support.

Solaxy (SOLX) - The Shining New Gem in Crypto

Many investing enthusiasts are now flocking to Solaxy (SOLX), a new Solana project. The buzz around this crypto is growing, with popular YouTube channel 99Bitcoins, boasting over 725K subscribers, claiming that the crypto has the potential to surge 100X post-launch.

Solaxy, still in its presale phase, aims to solve issues related to Solana's congestion. By implementing off-chain processing mechanisms similar to Ethereum's layer-2 solutions, Solaxy intends to increase platform efficiency by bundling transactions off the mainchain, submitting them to the mainnet for final verification, and enhancing overall scalability.

With its presale already raising over $33.6 million, Solaxy is well on its way to becoming the world's first Solana layer-2 project.

Investors can grab SOLX tokens for $0.001718 each using BNB, ETH, USDT, or a bank card by visiting the Solaxy website. Solaxy also offers generous annual staking rewards of 119% to token holders. Don't miss out on the next presale price increase, scheduled in approximately 31 hours.

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Despite being in a tight range just below the 0.786 Fib level, Solana's bullish sentiment is further solidified with the 50-day Simple Moving Average (SMA) at $134.19 serving as dynamic support.
As Robinhood's new platform explores tokenization through Solana and Arbitrum, Solana's value could target $181 if the $153-$155 resistances are broken through, pointing towards a potential growth towards the $188 mark.
Solaxy, a new Solana project, aims to solve issues related to Solana's congestion by implementing off-chain processing mechanisms similar to Ethereum's layer-2 solutions, boosting the platform's efficiency and scalability.
With a presale already raising over $33.6 million, Solaxy is well on its way to becoming the world's first Solana layer-2 project, offering generous annual staking rewards of 119% to token holders.

Solana's price soars by 3% due to potential integration with Robinhood for tokenized US stocks for EU users. Meanwhile, a Solana-based layer-2 ICO is gearing up for a $34 million raise.