Solana (SOL) Price Struggles to Maintain Momentum Despite Celebrating Its Fifth Anniversary

The Solana price is struggling to maintain momentum despite celebrating its fifth anniversary, as SOL battles market-wide declines and issues surrounding meme coin scams.

Solana price struggles to maintain momentum despite celebrating its fifth anniversary, as SOL battles market-wide declines and issues surrounding meme coin scams. Meanwhile, Toncoin (TON) is making waves, surging 36% following major news concerning its founder. But the real surprise in the market is DTX Exchange (DTX), a revolutionary altcoin that experts believe could reach an all-time high before SOL hits $300. With DTX’s hybrid exchange model and growing global demand, investors are rushing to get in before its tier-1 exchange listing.

Solana Price Faces Resistance: Will Bulls Take Back Control?

The Solana blockchain is celebrating five years since the mainnet beta was first launched, which is another significant turning point in the network’s development and expansion. The SOL team said in its fifth-anniversary post that over the past five years, the chain has completed over 408 billion transactions, drawn over 1,300 validators, and achieved volumes of over $1 Trillion.

Even though SOL users were celebrating the five-year milestone, the SOL tokens declined to join the celebrations as the Solana price began to decline. The sixth-largest cryptocurrency asset in the world by market capitalization was trading at about $132 as of the press time, down over 25% monthly. According to SOL’s 24-hour chart, the Solana price has increased by 7%.

SOL’s downward trend is not isolated since the whole cryptocurrency market has been declining recently. Still, it is reasonable to conclude that the SOL troubles with meme coin scams and frauds may be one of the reasons why the Solana price is struggling to reclaim the $300 price.

Solana Price Chart Today: A Closer Look

The Solana price is currently facing resistance at the $130-$135 band, which could present an opportunity for bears to take over the market, aiming to push the Solana price lower. However, if the bulls manage to break through this resistance level, they might target the next resistance at the $150-$155 band.

Alternatively, if the bears succeed in pushing the Solana price lower, they might aim for the next support level at the $120-$125 band. A further decline could see the bears testing the strong support at the $100-$105 band.

Toncoin Price Surges 36%: What’s Driving the Rally?

Following news that Telegram creator Pavel Durov had been granted permission to temporarily depart France, the price of Toncoin (TON) experienced a spike of around 20%. After several months of declining value, seeing a new all-time low in February, Toncoin experienced a sudden surge.

The cryptocurrency witnessed a spike of 35.86% in the past 24 hours, according to CoinMarketCap data. As of 08:53 am Edinburgh Time on Friday, saw the coin trading at $3.72.

Toncoin’s open interest also showed a robust market response. According to CoinGlass data, TON’s open interest surged by 67% in a single day to reach $169 million. Since February, this is the highest level.

On-chain data provides further backup for this trend. The number of daily TON transactions underwent a substantial increase following the announcement of Durov’s travel permit.

Further highlighting the bullish outlook, Trader Edge on X suggests that TON could move towards $4.60 shortly.

DTX Exchange: The Viral Altcoin Poised for an All-Time High Before SOL Hits $300

While Solana price faces difficulties in reclaiming its previous peak and Toncoin experiences a spontaneous recovery, experts have identified another altcoin that could deliver massive gains before SOL or TON.

This coin is none other than DTX Exchange (DTX), a new utility altcoin that is quickly gaining attention for its upcoming trading exchange platform. This platform sets itself apart by utilizing a hybrid approach to close the gap between centralized and decentralized exchanges. It offers the custody benefits of DEX and the performance and liquidity matching that of CEX. It is also all set to be the first crypto-native exchange that will give traders access to over 120,000 financial products, covering equities, bonds, ETFs, cryptocurrencies, and more. This unified trading interface aims to minimize the hassle of managing several platforms.

The platform’s unique features are powered by VulcanX, a layer-1 blockchain solution. It is a hybrid blockchain that combines the advantages of public and private networks to overcome their limitations. Its testnet has recently been launched, showcasing remarkable performance with over 200,000 TPS, rendering it one of the fastest in the industry.

DTX Exchange’s ongoing presale has consistently been making headlines due to the massive hype surrounding it. The presale recently completed its