Solana Surges Amid Binance Integration, Defying Market Dip

Integration with Binance Web3 Wallet

Despite a broader crypto market decline, Solana (SOL) has bucked the trend and seen a price surge. This is largely attributed to its recent integration with Binance’s Web3 Wallet.

Binance users can now trade SOL and access decentralized applications (DApps) and upcoming airdrops through their Web3 Wallet.

Analyst Predictions

Some analysts, however, caution that SOL may be due for a correction. Ali Martinez noted a sell signal on SOL’s Tom DeMark (TD) sequential indicator, which has historically predicted price drops. He suggests SOL could retrace to the $127-152 range.

Recent Performance

Despite the potential correction, SOL has had a strong recent performance:

  • Up 23% in the past week
  • Up 52% in the past month
  • Up 62% since the start of the year

Current Price

At the time of writing, SOL is trading at $177.72. While it has seen gains, it remains 32% below its all-time high of $259.96 set in November 2021.