Solana (SOL) is exploding – breaking $200 for the primary time since April.
With SOL rising and the broader market flipping inexperienced, buyers are beginning to discover a number of the newer tasks on the market.
One which’s getting a number of consideration is FreeDum Fighters (DUM), a PolitiFi meme coin that’s raised over $450,000 in presale.
SOL Dominates ETH as Community Exercise Explodes
Solana’s value retains climbing – now over $204 – and it simply had its third straight day within the inexperienced.
What’s additionally eye-catching is how effectively SOL is doing in opposition to ETH.
The SOL/ETH ratio hit an all-time excessive of 0.0717 earlier this week, and after a slight dip, it’s climbing as soon as extra.
That reveals simply how a lot religion buyers are putting in Solana.
SOL is up 101% this 12 months, whereas ETH is simply up 27%.
This might point out that the market is altering, and buyers see Solana as probably the most thrilling Layer-1 chain.
SOL’s value surge additionally comes at a time of significant progress on the community.
Solana’s whole worth locked (TVL) is now $6.9 billion, up $3 billion from August
Decrease transaction charges and a rising meme coin sector are driving this progress, serving to Solana achieve market share.
Large gamers appear to be taking discover, with SOL’s open curiosity at an all-time excessive of $3.5 billion.
Coinbase Boosts Solana DeFi Scene with Bitcoin Integration
There’s one other vital growth for Solana: Coinbase simply launched wrapped Bitcoin (cbBTC) on the community.
This implies Bitcoin’s large liquidity is now flowing into Solana’s DeFi house.
We’ve already seen $10 million value of cbBTC on the chain.
This transfer comes on the good time, with Bitcoin virtually hitting $77,000 after the Fed’s newest price minimize.
Coinbase’s choice to launch wrapped Bitcoin on Solana reveals rising religion within the community, particularly after the problems with soBTC in the course of the FTX collapse.
cbBTC is reside on @solana.
cbBTC is an SPL token that’s backed 1:1 by Bitcoin (BTC) held in custody by Coinbase.
That is the primary token Coinbase has issued on Solana, and with it, we’re excited to convey quick access to BTC.
Right here’s what you are able to do along with your cbBTC on day one ↓
— Coinbase ️ (@coinbase) November 7, 2024
Now, with completely different sorts of wrapped Bitcoin on Solana, it’s changing into a key DeFi participant.
Prime Solana protocols like Jupiter and Kamino Finance are already integrating cbBTC.
That’s a vote of confidence in Bitcoin-based DeFi on Solana.
Mix that with the bullishness round Trump’s election victory, and it’s simple to see why the SOL value is exploding proper now.
Might PolitiFi Coin FreeDum Fighters Profit from the Bullishness? DUM Token Presale Hits $450K
Solana’s value bounce has additionally acquired buyers enthusiastic about newer crypto tasks.
One such venture is FreeDum Fighters – a meme coin with a political satire twist.
FreeDum Fighters advantages from the market’s bullishness and has now raised over $450,000 in its presale part.
The venture is tapping into the mix of crypto and politics to nice impact.
Whereas FreeDum Fighters isn’t tied to the Solana blockchain, the optimistic market buzz is an efficient signal for its progress prospects.
What makes this venture stand out is its staking-based ecosystem.
Customers can stake DUM, the native token, in one in all two swimming pools – MAGATRON or Kamacop 9000.
These swimming pools are satirical variations of Donald Trump and Kamala Harris.
Every pool has its personal particular yield, so customers can “vote” for his or her favored character and earn additional DUM tokens in return.
This mixture of staking rewards and political jokes has caught the eye of some high crypto analysts.
The specialists at 99Bitcoins even predicted DUM may explode after it’s listed on a DEX.
With Trump’s current win getting everybody speaking about crypto, FreeDum Fighters’ timing may very well be spot on.
Its rising neighborhood and low presale value make DUM one of the thrilling new meme cash to look at of late 2024.
Go to FreeDum Fighters Presale
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