Market Sentiment: Solana Loses Steam While Rollblock Presale Extends Rally and Investor Hype Builds
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Title: Solana Bulls Lose Steam at $200 While Rollblock Presale Extends Rally and Investor Hype Builds
As the cryptocurrency market continues to experience unpredictable fluctuations, a stark contrast is emerging between two projects in particular – Solana and Rollblock. The latter has seen its presale extend rally and investor hype build, while Solana’s bulls appear to be losing steam.
Solana (SOL) recently rose to $187.77 but failed to break above the resistance level of $191. This led to a significant drop to $178, with bears regaining control. As Wallet0Witch noted, “the importance of the $177 level as key support has become apparent.” If Solana fails to reclaim this level and drops below it, further losses to $175-$172 could ensue.
On the other hand, Rollblock (RBLK) continues to gain momentum in its presale. The project’s innovative approach to combining DeFi principles with real-world revenue through GambleFi has resonated strongly with investors. This is evident in the platform’s recent presale results, boasting over $15 million in bets placed on the platform.
The stark contrast between Rollblock and Solana lies primarily in their respective tokenomics. Rollblock boasts a hard-capped supply of 1 billion tokens, ensuring that the project will not be subject to the typical inflationary pressures experienced by projects with unlimited supplies. This unique design is expected to create consistent upward pressure on the price.
Rollblock’s revenue share model also stands out from Solana’s lack of similar initiative. The former dedicates 30% of its weekly platform revenue towards buybacks, which are then permanently burned, reducing the token supply. Additionally, staking rewards of up to 30% APY provide a passive income stream for investors.
As Rollblock’s presale continues to build momentum and gather interest from the community, it appears Solana bulls may be running out of steam at $200.
Source: blockonomi.com
