In this video I break down whether the Solana bull market has truly begun and what market structure signals are required to confirm a trend reversal. I examine the current price action through an Elliott Wave lens to determine if the recent pullback can be classified as a completed wave 4 or if we remain in a deeper bearish cycle. Video by More Crypto Online.
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Solana (SOL) is trading at $75.68, experiencing a minor 1.05% decline over the past 24 hours. Despite today's slight pullback, the token has held on to a 3.39% gain over the past week, breaking a multi-week downtrend as it builds a support base above the $70–$75 zone.
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Insights Today
-The 14x Token Burn Proposal (SIMD-0553): Community attention is heavily focused on Solana Improvement Document 553. If passed, this protocol shift would lift the daily token burn rate from ~648 SOL to a projected 7,500 to 9,000 SOL per day. This 14x increase is designed to counteract token inflation and alleviate structural supply dilution.
-Upcoming Network Roadmap: The highly anticipated Agave v4.2 Mainnet Activation is scheduled to go live on August 17, 2026. This upgrade aims to trim slot times and aggressively slash on-chain rent costs by up to 90%. Later this year, the ground-up Alpenglow Consensus Rewrite is expected to push block finality down to a blazing ~150ms.
-Institutional Ecosystem Expansion: Remittance powerhouse MoneyGram officially expanded its cash-to-crypto network to support Solana wallets. MoneyGram has also notably become a Solana validator, highlighting deeper infrastructural backing for the layer-1 chain.
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