With Bitcoin (BTC) climbing to $26,450, the activity in Solana (SOL) and Eos (EOS) was surprising.
With the increase in BTC’s volume, movements began in the altcoin market. How are SOL and EOS, which stand out with their volatile movements in recent days, progressing both on the fundamental and technical side? What are the latest developments regarding these cryptocurrencies?
SOL and EOS stand out in terms of technical and fundamental analysis
The EOS bear market is intensifying its struggle as it becomes more dominant. Also in such a scenario, Grayscale’s August 29 victory over the SEC came as a pleasant surprise. EOS requested regulatory clearance in Japan on August 30. This permit will allow EOS to be traded against the Japanese Yen.
The EOS crypto price rose 8 percent from $0.581 on August 29 to $0.628 on August 30. However, as the decline deepened further, the price entered a correction again. On September 1, EOS announced its upgrade called Antelope 5.0 to become a fully community-driven network. Despite the upgrade, the EOS crypto price is down 7.4% from its August 30 high. EOS is trading at $0.58 at the time of writing.
The Solana ecosystem continues to grow despite falling prices. On August 23, Solana Pay was integrated into Shopify to allow crypto payments on Shopify. This Solana news was of great importance for the real-world adoption of cryptocurrencies.
Kamino Finance launched Kamico Creator Vaults in Solana on August 24th. This was followed by the launch of the Edgevana Accelerator Program on Solana (SOL) on August 26th. The price of the popular coin increased by 5.9 percent from $20.55 on August 23 to $21.78 on August 30.
SOL price entered a correction along with the market. As a result, the major coin fell 10.5 percent from its Aug. 30 high. SOL is currently trading at $19 as investors expect positive Solana news to push its price higher.
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