- Lido Finance will discontinue its operations on the Solana protocol.
- 65 million Lido token holders voted to cease using Solana blockchain.
- Solana’s price has increased by 4.41% in the last 24 hours.
After a vote supporting the termination of the Lido on Solana protocol, Lido Finance, a decentralized platform for liquid staking, will discontinue its operations on Solana. As per a blog post released by Lido on Monday, the process will commence soon, indicating that the firm will stop its Solana staking service.
The Lido community poll on Snapshot revealed that 65 million Lido
Bulls are dominating
The increase in the price of SOL coincided with the conjecture that the Blackrock ETF received approval, and it has maintained its upward trajectory even after Blackrock debunked these rumors. From the start of the year, Solana’s
According to the daily timeframe, SOL is operating within an extended upward triangle and an inverse head and shoulders pattern. Two optimistic patterns are evident, however, if the price fails to surpass $27, it could indicate a potential downward reversal.
As per the latest data from CMC, SOL is currently trading at $24.11, marking a 4.41% increase in the last 24 hours. Additionally, there has been a 46.05% surge in the trading volume. Over the past week, SOL has seen a rise of 7.55% due to its strong performance in recent weeks.
At present, the price is challenging the resistance area of $24.3. It will probably move towards the $26.3 resistance level if it successfully surpasses this. On the other hand, if the price falls below the support level of $21.2, it is likely to test the $18.9 level.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
