Price analysis
Analyst Predicts Solana’s Parabolic Price Rally to $700 Starts Here
Published
3 weeks agoon
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admin
Solana price recovers today, reaching its highest point since Tuesday. This rebound coincided with the broad crypto market rally, with Bitcoin soaring above $105,000. SOL is also being boosted by popular crypto analysts, with one expecting it to get to $700 in this bull run.
Solana’s rebound ais also happening a day after the Federal Reserve left interest rates unchanged in its first meeting of the year. This decision may help Solana and most altcoins bounce back since most of them are down by over 50% from their highest point in November.
Analyst Says Solana Price Rally to $600-$700 Begins Here
In an X post, Owen, a popular crypto analyst, predicted that Solana price was preparing a strong bullish move that will push it to between $600 and $700. He pointed to a three day chart of the SOL/BTC pair, which has been forming a symmetrical triangle pattern that is nearing its confluence.
As such, he expects that the SOL/BTC pair will have a strong bullish breakout and move to 0.00400. The same breakout will happen in dollar terms and push the Solana price to $700, up by almost 200% from the current level.
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Meanwhile, Trader XO, another popular analyst with over 500k followers, noted that this was the first time he was interested in Solana in a while. He expects that the coin will bounce back from the current $240 and move near $300. As shown below, he referenced the daily chart, which did a break and retest pattern by falling back to $222.9 (January 6 high). He believes that the coin has bottomed and that it will bounce back.
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Trump’s Watch Sales Can be Bought Using Solana Token TRUMP
Meanwhile, Solana price will benefit from the growing ecosystem. The network had major token launches recently like Official Trump, Melania, and Vine. According to Bloomberg, users will now be able to use the TRUMP meme coin to buy watches and fragrances. That move will create utility for the meme coins and the Solana ecosystem.
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Solana’s ecosystem is also seeing more utility. For example, TokenTerminal data shows that Jito has made more money in fees than popular players in the crypto industry like Ethereum and Tron. This is important since Jito is the biggest liquid staking network on Solana. Other networks like Raydium and Jupiter are also gaining market share.
Key SOL Levels To Watch
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Solana price is gearing for more gains in the coming days. It is forming the handle section of a small cup and handle pattern, a popular bullish sign. SOL has also remained above the 100-day moving average.
Therefore, the first SOL value to watch will be at $263.90, the upper side of the cup. A move above that level will signal more gains to the year-to-date high of $295. That crossover will point to more gains, with the next level to watch being $500, followed by $700 as the first analysts predicts.
The bullish SOL price forecast will become invalid if the price falls below the lower shoulder section at $222.
Frequently Asked Questions (FAQs)
Yes. Solana has a long record of doing well as it jumped from below $10 a few years ago to the current $240. That is a sign that it has more upside room to go.
Some of the top SOL price catalysts are its growing ecosystem, strong technicals, and the upcoming SOL ETF launch.
There are chances that the Securities and Exchange Commission (SEC) will approve a spot Solana ETF this year under Paul Atkins.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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US SEC Faces Backlash as Bybit Hack Highlights Lack of Oversight
Ether Price Spikes Further on Reports of Bybit Starting to Buy ETH
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The crypto market faced a huge shock when 401,346.76 ETH worth $1.5B was drained from ByBit’s wallets on Friday. Ethereum (ETH) price dropped 8% on February 21 due to this security incident. The short-term fear dissipated as ByBit confirmed that the customer funds were safe. Let’s explore Ethereum price forecasts and how this hack and the exchange’s $1.3B bridged loan short-term ETH price outlook.
Ethereum Price Crashes 8% After Bybit Hack: Here’s What Happened
- A masked UI exploit drained roughly 401,346 ETH ($1.5B) from Bybit’s cold wallets.
- North Korea’s Lazarus Group are the hackers behind ByBit’s hack, per on-chain investigator ZachXBT.
- As a result of this security incident, ETH’s price dropped 8% from $ 2,845 to $2,614 on Friday, February 21, 2025.
- ByBit CEO Ben Zhou confirmed that no customer funds had been lost and that the exchange had remained solvent. Over 350,000 withdrawal requests were processed despite the breach.
DeepSeek Predicts Bybit’s $1.5B Bridged Loan Impact on ETH Price
To cover the $1.5B loss from the hack, Bybit secured a bridged loan from multiple crypto exchanges and entities. A bridge loan is a short-term financing mechanism where the exchange borrows Ethereum, sells it immediately, and plans to repurchase it later at a lower price.
The longer ByBit waits, the more riskier the loan gets. Since this strategy hinges on ETH price stability, a sudden Ethereum rally could increase Bybit’s repayment costs and also negatively impact the counterpart handling costs as well.
Zaheer, a popular crypto analyst, noted that ByBit had taken a short position on Ethereum worth $1.5 billion (at the time) via a bridge loan. The term “bridged loan” here refers to a short-term financing mechanism where the exchange borrowed Ethereum to sell, expecting to buy it back cheaper later.
The CEO stated in the live stream that they had secured 80% of the hacked funds via a bridged loan to provide them “liquidity” to help “with the liquidity crunch” during this crucial period.
However, this strategy could backfire if their lending counterparty refuses to absorb potential losses. Zaheer adds,
“I’m gonna guess that their lending counterparty is not ok to take the price delta on this.”
Below are four hypothetical scenarios outlined by DeepSeek AI on how this loan could impact Ethereum price.
ETH Price Stays Flat or Declines
- Bridge Loan Impact: Bybit can repay the loan at a stable or lower cost, minimizing additional losses.
- ETH Price Impact: A flat or declining ETH price reduces pressure on Bybit, but uncertainty around the hack and potential hacker sell-offs could create bearish sentiment, keeping ETH prices in the
- $3,500 to $3,700 range.
A Moderately Rally in Ethereum
- Bridge Loan Impact: Repaying the loan becomes costlier, adding ~$100 million in losses. Bybit may need to dip deeper into reserves or seek additional financing.
- ETH Price Impact: A moderate rally could stem from positive market sentiment or speculation that Bybit’s recovery efforts will stabilize the market. However, Bybit’s need to buy ETH could drive prices up temporarily, followed by stabilization.
ETH Value Shoots Up Sharply
- Bridge Loan Impact: Bybit faces significant losses (~$2 billion to buy back 402,000 ETH), potentially straining reserves and risking insolvency.
- ETH Price Impact: A sharp rally might occur if speculators bid up ETH to pressure Bybit or if broader market optimism drives demand. However, this could also trigger panic selling by hackers or traders, leading to extreme volatility.
Market Participants Pressure Bybit by Bidding Up ETH
- Bridge Loan Impact: If traders intentionally drive ETH’s price higher, Bybit’s repayment costs soar, risking default or massive reserve depletion.
- ETH Price Impact: Such manipulation could push ETH to the $5,500 to $6,000 range temporarily, but subsequent sell-offs could crash prices back to
- $3,000 to $4,000, creating extreme volatility.
Ethereum Price Forecast: What’s Next for ETH?
The four-hour Ethereum price chart shows a pullback into the $2,765 to $2,522 values area formed between February 3 and 21. Considering how well the Bybit team handled the crash, the crypto markets are looking good and might rebound from here. If Bitcoin (BTC) revisits $100K and does not sell off, investors can expect a broader crypto market rally. In such a case, Ethereum price prediction notes the 2025 anchored VWAP at $3,017 as the next key resistance level.
Other notable hurdles if Ethereum price kickstarts an uptrend include $3,119, coinciding closely with Q4 anchored VWAP at $3,141, followed by $3,300, coinciding with Q4 November 2024 VWAP at $3,269.
As noted in a previous CoinGape article, a breakdown of the $2,621 support level could trigger an ETH crash.
The next key support levels are nearly 20% lower at $2,100 and $2,044. If hackers start offloading stolen ETH, the aforementioned scenario could unfold. In such a case, a sweep of $2,000 psychological level is likely and is the best place to buy Ethereum (ETH) at a discount.
Conclusion: Bybit Hack’s Long-Term Impact on ETH
The Bybit hack underscores crypto’s security risks but also highlights how exchanges mitigate crises. While the $1.5B bridged loan stabilizes Bybit, ETH price faces dual threats: hacker sell-offs and loan repayment risks. Despite the obvious short-term ETH volatility expectations, investors should focus on the long-term recovery, which hinges on a few key aspects, such as:
- Bybit’s ability to recover funds or absorb losses.
- Regulatory crackdowns on North Korean hackers.
- Bitcoin and broader crypto market sentiment.
As of this writing, the hackers have transferred 5,000 ETH to a mixer and are attempting to launder the funds, according to on-chain sleuth ZachXBT.
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Frequently Asked Questions (FAQs)
The Bybit hack caused Ethereum’s price to drop 8% initially, but long-term impacts depend on hacker sell-offs and Bybit’s $1.5B bridged loan repayment.
Bybit’s $1.5B bridged loan could strain Ethereum’s price if ETH rallies, as higher prices increase repayment costs and risk market volatility.
Ethereum’s recovery depends on Bybit’s ability to stabilize its finances, hacker activity, and broader market sentiment, with potential for ETH to rebound to $4,000 to $5,000 in 2025.
Akash Girimath
Senior Cryptocurrency Analyst & Market Strategist
Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts.
A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise.
Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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How to buy Pi Coin today
Here’s How to Buy Pi Coin Today?
Published
1 day agoon
February 21, 2025By
admin
Pi Network price continues to struggle against intense selling activity as traders who bought during launch look to take profits. On February 20, 2025, Pi Coin value hit an all-time high of $1.97, but it has since dropped by 67%. However, given the massive hype around this token and the potential listing on Binance, traders are still looking for how to buy Pi Coin today and maximize potential gains.
If you are an investor looking to buy the Pi Coin price dip and capitalize on gains if Binance lists it, here’s everything you need to know.
Pi Network: How to Buy Pi Coin Today
The easiest way to buy, trade, and hold Pi Coin is through a centralized exchange (CEX). Below are the steps to follow when using a CEX.
- Create an account on your preferred exchange
The first step is to create an account on a centralized exchange. One of the major exchanges that have listed Pi Coin is OKX. Others include MEXC, Bitget, Gate.io, and BitMart. When choosing an exchange, consider factors such as user-friendliness, fees, and the accepted payment methods that you can use to buy Pi token.
- Set up your account and complete identity verification
Setting up an account on a CEX includes submitting information like your email address or phone number and creating a strong password. Some exchanges will require that you complete a Know Your Customer (KYC) verification to confirm your identity. Once you complete the KYC, you will have access to Pi Coin and other assets listed on the exchange. It is important to set up two-factor authentication (2FA) to secure your account.
- Provide a payment method
You need to provide a payment method that you will use to buy Pi Network token on a CEX. Some of the most common payment methods include debit cards, credit cards, and bank accounts. You should keep in mind that the available payment method differs from one exchange to the next.
Once you have deposited funds into your account, you are now ready to buy Pi token. Some exchanges may allow you to buy Pi Coin using fiat currency. If that is not the case, you can first buy popular stablecoins like USDT and then exchange them for Pi Coin.
Is Now the Right Time to Buy Pi Network Token?
Pi Network price crashed after the mainnet launch after dropping with a -58% move in the last 24 hours. PI Coin launched at a value of $1.24, but has since dropped to trade at $0.648 today.
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According to analyst Kim Wong this decline is because of high selling activity and low buy orders. In his analysis, Wong stated that despite the “disappointing” launch, the price was likely to go back up.
Wong based his bullish outlook on the potential of Open Network and the possible exhaustion of sellers. He added that big capital or institutions would also likely flock to the Pi Coin market.
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Besides seller exhaustion, the other factor that could act as a catalyst for Pi Network price is Binance’s listing. The exchange has not confirmed whether it will list the token but it has launched a voting poll where 86% of voters are in favor.
As these bullish signs align, Pi Network could be poised for a strong uptrend. However, traders looking for how to buy Pi Coin today should remain cautious due to the volatile moves of new tokens.
Frequently Asked Questions (FAQs)
The best way to buy Pi Coin is through centralized exchanges such as OKX, Gate.io, Bitmart, among others.
Despite the recent pullback, analysts remain optimistic that Pi Coin could still rally due to the potential of Open Network and possible institutional adoption.
The Binance exchange has not confirmed when and if it will list Pi Coin. However, a voting poll on whether the token will be listed will be closed on February 27, 2025
muthoni
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Pi Network
3 Critical Risks That Could Crash Pi Network’s Price Post Mainnet Launch
Published
3 days agoon
February 20, 2025By
admin
Pi Network is preparing for its much-anticipated Open Mainnet launch today on 20th February 2025. This significant event has captured the attention of the crypto community, especially with major exchanges revealing plans to list Pi Coin. The launch will mark Pi’s transition from a closed ecosystem to a fully decentralized network. The achievement of external wallet transfers together with exchange listings and decentralized applications (dApps) develops intense interest around Pi Coin price expectations. However, there are critical risks that could impact its price post-launch.
3 Major Risks That Could Tank Pi Network’s Price After Mainnet Launch
The cryptocurrency world talks intensely about Pi Network as speculations rise about its upcoming mainnet launch date. The approaching launch on February 20th has triggered rising investor and expert apprehension regarding the future path of Pi Network along with its default token, Pi.
From technical issues to the potential for mass selling, there are key risks that investors should be aware of. Here, we highlight three major factors that could affect Pi’s price after its mainnet launch.
Binance, the largest exchange in the world, which recently launched a vote for $Pi listing, will definitely list it.
The vote was just a pretext to create a lot of hype and for the OG #crypto whales to take notice and have time to prepare.
Agree?#PiNetwork #Binance #Bitcoin pic.twitter.com/B4k2V9zZhO
— Pi Network News Global 𝛑 (@PiNewsGlobal) February 19, 2025
Technical Indicators Show Weakness
Pi price charts are currently showing signs of vulnerability, with the token slipping below key support levels. In the past 24 hours, Pi Network’s IOU token has already seen a sharp 40% decline, prompting questions about its future price movement.
The price has recently fallen below the $50 support level, which was previously considered a solid support level. This technical weakness could signal a further downturn in Pi’s price, especially if the trend continues after the mainnet launch.
Early Miners Could Flood the Market
Pi Network has a large base of early miners who have been accumulating tokens for years. The active miners operating on mainnet will probably cash out their holdings when the mainnet launches.
A substantial market downturn would likely happen if the increased supply exceeds market demand during this period. The market entry of numerous coins would intensify the existing price reduction thus deepening the downward trend.
Airdrop-Based Tokens Often Drop After Launch
A substantial decline in value typically happens to cryptocurrencies that make their initial releases via airdrops or similar distribution methods. When Pi Network starts trading while widening its user base it may result in market flooding through airdropped tokens that trigger immediate token dumping.
The history of airdrop projects shows this pattern has become standard so Pi Network may encounter the same outcome when supply exceeds market demand.
The mainnet launch of Pi Network requires investors to analyze these significant risks. Investors need to approach the market with caution while tracking Pi Network project developments along with market information.
Frequently Asked Questions (FAQs)
Yes, after the mainnet launch, Pi Coin will be available for trading on exchanges, allowing users to sell their tokens.
Risks include technical weaknesses, early miners flooding the market with tokens, and airdrop-based sell-offs which could cause price volatility.
Early miners have accumulated large amounts of Pi Coins, and when the mainnet goes live, they might sell off their tokens, increasing market supply.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Ripple Vs. SEC, Shiba Inu, US Elections Steal Spotlight
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SAFE rallies 20% on Bithumb listing
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Will Ethereum Price Fail $3,000 Breakout as Whale Selling Prolongs?
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