Solana's Solayer Hits $20M Deposit Cap in 45 Minutes
- Solayer Launches Restaking Deposits on Solana: Solayer, a startup similar to EigenLayer on Solana, initiated restaking deposits limited to $20 million, allowing users to restake SOL directly or deposit liquid staking products like mSOL, bSOL, JITOSOL, and INF.
- Solayer Hits $20M Deposit Cap: The startup reached its $20 million cap within 45 minutes of opening deposits, aiming to raise $8 million at an $80 million valuation led by Polychain.
- Little Known About Solayer: Despite the buzz, there is limited information about Solayer, with the protocol being in development since late 2023. A liquid restaking token, sSOL, is set to launch in epoch 6.
- Restaking Enhances Blockchain Security: Restaking involves using staked tokens to secure additional layers of applications, boosting network resilience and maximizing the utility of staked tokens.
- EigenLayer's Influence: The concept of restaking was first introduced on Ethereum by EigenLayer, which has raised significant venture funding and achieved substantial total value locked (TVL).
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 15.965 | 41.733 | 67.315 | 93.083 | 118.665 | 144.433 | 170.015 |
| Fibonacci | 41.733 | 61.348 | 73.467 | 93.083 | 112.698 | 124.817 | 144.433 |
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