Solana is one of the safe havens in the crypto market right now. While all other altcoins are in the red zone, SOL is among the few maintaining profitability levels, which could be attributed to the potential of the newly launched Solanax DEX platform.
At the time of writing, SOL is trading at $30.48 on major exchanges, after a 13.4% increase in 24 hours.
Solana Price Analysis
The Solanax platform will be launching an Initial Exchange Offering (IEO), and its private sale is slated to end on June 25. This sale is expected to boost the demand and value of the token. Investors speculating that prices will rise during that period could be causing the recent SOL uptrend with hopes that SOL’s price will surge.
Solana’s largest decline was in May when the token went to trading at support levels of $19.50. However, the price created a new … Read more