Ravi Kumar

Surbhi Yadav

I started looking into Bitcoin since 2019 and observing market since then. Here I will express my views on Bitcoin based on my prior experience. Any view should not be considered as a financial advice.

Shashi Kumar

Gaurav Ghosh

Yusuf Gaffoor

Arjun Yadav

Anand Yadav

zsolt csaba tóth

Sudarshan Chougule

Madegowda G s

Worried that BlackRock might change bitcoin&#8217;s supply? Let me explain why 
that&#8217;s not possible.

No, BlackRock Can’t Change Bitcoin

Amid a crypto market mayhem over the past week, Solana (SOL) has suffered 
significant losses to the tune of 17.13%,. according to data from 
CoinMarketCap. This decline adds to the token’s steep price movement after it 
reached a new all-time high of $263.83 following the US Presidential elections 
in November. However, with the crypto bull cycle still in its early stages, 
analysts at Glassnode remain positive on the token’s ability to regain its 
bullish form despite not establishing any higher highs in the past three 
weeks. Related Reading: Solana Holds Monthly Support As Network Activity Grows 
– Time For A Breakout? More Room For SOL Price Growth, Analysts Say In a 
recent blog post on December 20, Glassnode in collaboration with crypto 
analysts UkuriaOC and CryptoVizArt shared vital insights on the current state 
of the Solana market. By analyzing the Net Realized Profit/Loss metric, these 
market experts discovered that Solana has experienced a positive net capital 
inflow since early September 2023, with a recorded peak inflow of $776 million 
of new capital per day. During this period, the SOL market witnessed minor 
inflows with the majority of the profit-taking volume coming from coins aged 1 
day-1 week, 1 week-1 month, and 6 months-12 months, demonstrating the 
endearment of Solana to both long and short-term holders. To ascertain the 
status of Solana amidst these recent market activity, Glassnode employs the 
MVRV ratio to determine if the market is overheated. For context, the Market 
Value To Realized Value (MVRV) ratio is used to assess if an asset is 
potentially overvalued (&gt;1) or undervalued (&lt;1). This MVRV ratio can be used 
to establish pricing bands that classify investors’ profitability into ranges. 
Using this setup, Glassnode observes that Solana is currently observing a 
sideways movement between the mean MVRV and +0.5 standard deviation range. 
This development indicates the Solana market is quite heated but still far 
from a bull cycle top. This is because MVRV breakouts of +1 standard deviation 
have historically signaled when the altcoin forms a longer-term macro topping 
formation. Therefore, Solana still has the potential to record much profit 
before entering an overheated zone that will likely precede a market 
downtrend. Related Reading: Solana Bull Flag Signals A Breakout To $300 – 
Analyst Shares Key Levels Solana A Stellar Investment So Far &#8211; Glassnode In 
addition to more insights on the Solana market, Glassnode notes that altcoin 
has proven to be a highly profitable asset in the crypto market. Following its 
price crash to $9.64 in November 2022, Solana has experienced a remarkable 
price gain of over 2,143% over the past two years. During this period, the 
altcoin has outperformed both Bitcoin and Ethereum on 344 out of 727 market 
days since the FTX exchange collapsed indicating significant market demand and 
interest. At the time of writing, Solana trades at $194.58 reflecting a price 
loss of 0.50% in the past day. However, the asset’s trading volume is up by 
18.94% and is valued at $9.94 billion. Featured image from MoneyCheck, chart 
from Tradingview

Solana MVRV Signals More Gains Ahead Amid Market Downturn: Analysts

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