Expert notes that Dogwifhat price eyes a 186.36% rally, targeting a multi-month high of $3.15 if buyers breach a critical sell wall at $1.5. According to crypto analyst @CW, buyers must continue accumulating past the $1.5 resistance level and trigger a breakout rally towards the meme coin’s all-time high of $4.85. The bullish outlook is accompanied by a spectacular 18% price gain over the past 24 hours and approximately $1.68 billion in daily derivatives trading volume. At press time, Dogwifhat’s price is trading at $1.148, with its market cap hovering around $1.14 billion to make it the 73rd largest cryptocurrency by market capitalization. Dogwifhat Price Eyes $3.15 Multi-Month High, Says Expert As per a Dogwifhat price assessment by @CW, WIF is primed for a potential 186.36% rally to a new annual high, a move that could activate a spike towards the all-time high at $4.85. According to CW, buyers should… Read More at Coingape.com
SOL Strategies Inc. (CSE: HODL), a Vancouver-based company focused on the growth and development of the Solana (SOL) network, announced that it filed a preliminary short-form base shelf prospectus with the securities regulators in Canada to issue up to $1 billion in securities over the next 25 months.
The company intends to either tap into the common shares, warrants, subscription receipts, units, debt securities, or a combination to raise the funds. Through leveraging the capital markets, SOL Strategies plans to invest more in the Solana network ahead.
“The filing of a base shelf prospectus supports our growth strategy by providing us with the flexibility to access capital as future opportunities arise in the rapidly evolving Solana ecosystem. This strategic move enhances our ability to act decisively when compelling investment opportunities present themselves,” Leah Wald, CEO of SOL Strategies, noted.
As Coinpedia previously reported, SOL Strategies has strengthened its balance sheet through Solana acquisitions in the past. As of this writing, the company held about 389,675 SOL coins, with the majority acquired YTD.
Impact of SOL Strategies Plan on Solana Price
The relentless support of the Solana network from SOL Strategies has played a crucial role in the altcoin’s bullish sentiment. Furthermore, on-chain data shows that the Solana network has a significantly higher number of users compared to its direct competitors such as Ethereum (ETH), and Tron (TRX), among others.
As Bitcoin (BTC) price teases a rally towards a new all-time high (ATH) in the near future, SOL price has attracted more whale investors and FOMO traders. Moreover, the notable adoption of the Solana-based memecoins in the recent past has helped increase the overall SOL utility.
From a technical analysis standpoint, the SOL price is well positioned for a rally beyond $200 in the coming days following a notable bullish momentum in the past two months.
The post SOL Strategies Files Preliminary Base Shelf Prospectus to Raise $1B to Buy Solana appeared first on Coinpedia Fintech News
SOL Strategies Inc. (CSE: HODL), a Vancouver-based company focused on the growth and development of the Solana (SOL) network, announced that it filed a preliminary short-form base shelf prospectus with the securities regulators in Canada to issue up to $1 billion in securities over the next 25 months. The company intends to either tap into …
US-based Coinbase has reportedly agreed to purchase the largest crypto options firm in the world, Deribit. The deal, valued at $2.9 billion, will see Coinbase expand its reach toward crypto derivatives, but parties will have to sidestep a few regulatory hurdles.
Coinbase Moves To Acquire Deribit For $2.9 Billion
After months of horse-trading, Coinbase has inked a deal to acquire crypto options platform Deribit for $2.9 billion. According to a report by the Wall Street Journal (WSJ), the deal will see Coinbase expand the scope of its offerings to include spot, futures, and options.
Joining forces with Deribit will send Coinbase to the top of the rankings for crypto derivatives by options volume and open interest. Deribit holds $30 billion in open interest and trading volumes surpassing $1 billion, with pundits describing the deal as a “steal” for the US-based exchange.
“This is a global step in our global expansion strategy,” said Coinbase in a statement. “With Deribit’s strong international presence and Coinbase’s regulated US and international operations, we’re set to offer unparalleled access to crypto derivatives around the world.”
Cardano price is eyeing massive gains after Coinbase Derivatives announced it will launch ADA futures on March 31, boosting institutional interest and market liquidity. ADA price could now be on the verge of a massive upswing, with analysts predicting a 15% rally. However, there are also concerns that the listing may mark a local price top. Will this Coinbase listing drive sustained growth for Cardano price or trigger a sell-the-news event? Let’s explore.
Cardano Price in Focus as Coinbase Files for ADA Futures
Coinbase Derivatives is expanding its crypto offerings with ADA futures. The exchange has filed with the Commodity Futures Trading Commission (CFTC) for this product. If it launches, it will boost liquidity and institutional interest in Cardano and potentially fuel gains.
The Cardano futures will enable traders to gain exposure to ADA without holding the underlying asset. This offering will allow investors to use leveraged trading strategies. If the product is approved, it will launch on March 31.
Coinbase Cardano Futures
Futures listings have often spiked price volatility, and traders are now speculating about the impact that the launch will have on ADA price, which has been recording choppy price moves. At press time, Cardano trades at $0.74 with a 4.8% gain in 24 hours as the crypto market today rebounds.
Will the Coinbase Listing Mark a Local Top for ADA?
The upcoming launch of ADA futures could break Cardano from consolidation if it leads to a spike in social volumes. Historically, exchange listings drive speculative discussions that in turn result in high trading activity.
Data from Santiment shows that Cardano social volumes peaked earlier this month after President Trump endorsed ADA as one of the US altcoins that will be part of the US digital asset stockpile. This saw the price hit a local top of around $1.12 before a sharp reversal.
Cardano Social Volumes
The recent Coinbase listing has yet to cause a surge in social volumes. This indicates that Cardano price still has room for growth before reaching another local top. However, this listing could end up being a sell-the-news event that will lead to a bearish reversal.
Cardano Price Gears for a 15% Rally
Analysts have shared a bullish Cardano price prediction after it bounced by nearly 5% to an intra-day high of $0.75 following the news of the Coinbase listing. Popular analyst Ali Charts forecasts that the altcoin could be on the verge of a 15% upswing after forming a symmetrical triangle pattern.
ADA/USDT 1-hour Chart
If ADA price breaks out of the upper resistance trendline, it could pave the way for the altcoin to reclaim $1 as traders buy into the rally that will be realized with the Coinbase listing later this month.
Data from Coinglass also shows an uptick in activity in the derivatives market. The Cardano open interest has increased slightly in the last 4 days to $770M. If this rise in OI continues, it could add more fuel to the ADA price rally.
