Solana

Cryptocurrencies PI, SOL, and ZEC are showing significant price fluctuations amid a general market decline. Pi Network is preparing for the Ecosystem Summit, Solana is testing an important support level, and Zcash is losing ground after a 25% drop over the week. Analysts are assessing possible scenarios for future price movements.

Solana Company reported a nearly fivefold increase in quarterly revenue year-over-year, with over 99% of the revenue generated from staking. The company has also started earning income from third-party delegators through Pacific Backbone, although the specific amount has not yet been disclosed.

Helius has launched Solana Privacy Rings – a technology for encrypting balances and transfer amounts on the Solana blockchain. The first version is already operational on the mainnet, although participant addresses remain public. The corporate solution with enhanced privacy settings is currently undergoing an audit.

The xStocks project has expanded its list of tokenized stocks from UK and European companies. According to Blockworks, xStocks accounts for about 75% of the value of such instruments on the Solana network, with a total volume of $607 million at the time of the initial analysis. The next expansion focus will be Hong Kong.

Solana has decreased by approximately 9% over the past seven days, approaching a crucial technical support level around $80. Pressure on the cryptocurrency market is intensifying due to expectations of an interest rate hike by the Fed in December. Analysts suggest a further decline in SOL to $74, although RSI indicators also point to the possibility of a short-term rebound.

Against the backdrop of a declining cryptocurrency market, XRP showed the worst weekly performance compared to BTC, ETH, and SOL. The token's price dropped to around $1.10, and its value relative to Bitcoin decreased by almost 8%. The sell-off coincided with news of an investigation into Nvidia.

Spot ETFs on XRP ended the first week of November without a single day of net capital inflow. Funds on Solana have been experiencing outflows for 5 consecutive weeks, with their accumulated net inflow decreasing to less than $1.45 billion. The decline in interest in the funds is accompanied by falling prices of both cryptocurrencies.

The People's Bank of China has recognized the promotion of Solana in Shanghai as a violation of virtual currency advertising regulations. The regulator explained the reasons for halting the event scheduled for October and announced an upcoming investigation of the involved organizations and individuals.

ZetaChain has put forward a plan to halt its Layer 1 network and migrate the ZETA token to Solana. If approved, the migration will begin around December 9, maintaining balances at a 1:1 ratio. The project also proposes to burn approximately 55 million ZETA in 2027 and launch the ZetaLabs platform.

Analyst Ali Martinez noticed signs of a potential reversal on the three-day charts of ETH, SOL, and ADA. He outlined conditional targets for Ethereum, Solana, Cardano, SUI, AAVE, and LINK. We analyze price levels and explain why the TD Sequential signal does not guarantee the start of a new altcoin rally.