The Solana price has suffered a devastating bearish fate, falling nearly 50% from its recent ATH. Many investors are increasingly worried about Solana’s short-term future as Solana continues to lose its whales to projects like Remittix (RTX) and Avalanche.
Investors’ search for better options hits Solana with even more bearish blows because how does a project recover when its investors are on the move?
Solana Price Struggles But Shows Early Signs of Recovery
The Solana price has had a rough week. It has dropped 24% since Monday, falling from $172 to as low as $134. Despite this, it regained some ground, pushing back to $137 early Thursday. The Solana price has been testing support around the $130 level, which is currently holding steady as selling pressure seems to ease.
The recent dip in the Solana price comes as FTX’s upcoming token unlock looms, raising concerns over additional sell-offs. However, a brief rally came on Tuesday after DTCC approved the Solana futures ETF.
Despite recent advances, the Solana price remains near the lower Bollinger Band, and further drops are not ruled out should bearish momentum continue. The Solana price is trying to level off, but traders are watching closely to see how it responds to existing support levels.
Avalanche Foundation Launches Crypto-Powered Visa Card
In one of the latest developments, the Avalanche Foundation can now accept online and in-store purchases using crypto coins like AVAX, USDT, USDC and WAVAX. The blockchain-based credit card was created in partnership with popular issuer Rain and it enables cryptocurrency payments at any Visa card point worldwide.
First, the Avalanche Foundation targets Latin America and the Caribbean, where digital asset adoption is skyrocketing due to economic challenges. This is the latest move by Avalanche to make its blockchain more mainstream and improve everyday financial transactions.
AVAX has struggled recently but remains a strong contender in the blockchain space. Currently, AVAX is trading around $22.3, and analysts expect it to rise to $40 by the end of the year if the Visa card rollout goes well and the coin takes off. This new product could be a catalyst for the AVAX price, as Avalanche would be drawing momentum from the growing payment industry.
Remittix: Simplifying Cross-Border Payments with Crypto-to-FIAT Solutions
Remittix (RTX) is changing how worldwide payments are made. The platform aims to be the go-to solution for businesses and individuals globally, simplifying crypto-to-FIAT transactions as seamlessly as possible. It supports over forty cryptocurrencies and its users can readily send or convert their crypto assets into traditional currencies like the GBP and USD.
Remittix boasts a unique Pay API, which businesses would find attractive. This API lets businesses accept crypto payments from anywhere in the world and convert them into FIAT money.
The new project also lets long-term holders looking to grow their assets stake for up to 18% APY. As demand for better payment solutions increases, Remittix is gaining ground and several experts see the platform as a potential disruptor of the global payments market.
Join the Remittix Presale Success Today
More than $13 million has been raised so far in the Remittix presale and more than 50% of tokens have been sold. Experts say RTX will surge up to 800% post-launch, with some predicting as much as 1000% returns for early investors.
At only $0.0694 per token in its presale stage, this is the best time to buy into the next big thing in the crypto market. Be a part of the project that may change the face of cross-border payments.
Join the future of PayFi with Remittix:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
