Key Points:
- Solana’s TVL Growth: Solana’s TVL rose 31%, boosting its ecosystem.
- PYTH Partners with Sony: PYTH joins Sony’s Soneium blockchain, strengthening its position.
- WIF Shows Reversal Signs: Whale activity hints at a potential 22% rally for WIF.
Solana’s Growth Brings New Investment Chances
Solana is expanding rapidly despite recent market fluctuations. In August, Solana’s total value locked (TVL) in decentralized applications jumped from $3.8 billion to $5.01 billion—a 31% increase. This growth indicates more money and confidence flowing into Solana projects.
As Solana’s main token (SOL) recently dipped, other Solana-based coins also fell. However, this dip may present a good opportunity to buy low. Three altcoins—Pyth Network (PYTH), Jupiter (JUP), and Dogwifhat (WIF)—stand out. These coins have strong potential to rebound, driven by new partnerships, increased interest from big investors, and Solana’s ecosystem growth.
Pyth Network (PYTH): Partnering with Sony
One major development is Pyth Network’s (PYTH) new partnership with Sony’s Soneium blockchain. PYTH is now the first oracle provider for Sony’s blockchain. This partnership could stabilize PYTH’s price, currently holding steady at $0.26 despite the challenging market.
Another positive sign for PYTH is its funding rate of 0.0064%, showing traders are optimistic about its future. A positive rate means traders expect the price to rise. With this strong partnership and growing confidence, PYTH is a promising choice for Solana-based altcoin investors.
Jupiter (JUP): Standing Strong Amid Market Uncertainty
Jupiter (JUP) is another Solana altcoin showing resilience. Despite a tough market, JUP is holding its ground, trading at $0.79 with a market cap of $1.078 billion.
What stands out about JUP is the recent spike in its TVL, reaching $1.125 billion in August. This increase shows more people are using and trusting Jupiter’s platform. Even if the market dips further, JUP’s growing adoption suggests it could bounce back strongly.
Dogwifhat (WIF): Signs of a Comeback
Dogwifhat (WIF), a meme coin based on Solana, has been in a downward trend, dropping from $4.86 to $1.5—a 67% fall. Despite this, WIF still has a market cap of $1.58 billion.
However, there are signs that WIF might be ready for a comeback. Large investors, known as “whales,” are starting to buy more WIF as its price nears a key point in its chart pattern. If this buying continues, WIF could rally by 22% before attempting to break out of its current downtrend.
Looking Forward
Solana’s ecosystem is growing fast, with more money being invested in its projects. This growth makes it a good time to consider investing in Solana-based altcoins like PYTH, JUP, and WIF. Each of these coins has unique strengths, such as new partnerships, market resilience, and signs of a price rebound. As the market stabilizes, these altcoins could offer a great chance to buy low and see strong returns.
