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binancecoin
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ripple
XRP (RIPPLE)
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Shiba Inu (SHIBA-INU)
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pepe
Pepe (PEPE)
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bonk
Bonk (BONK)
$0.000023 -7.20%
bitcoin
Bitcoin (BITCOIN)
$114,962 -0.38%
ethereum
Ethereum (ETHEREUM)
$4,527 -1.84%
binancecoin
BNB (BINANCECOIN)
$917.95 -1.07%
solana
Solana (SOLANA)
$235.23 -3.20%
ripple
XRP (RIPPLE)
$3.03 -0.14%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.78%
pepe
Pepe (PEPE)
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bonk
Bonk (BONK)
$0.000023 -7.20%
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Saros Price Spikes 6% Amid Its Growing Influence in the Solana Ecosystem

Highlights:

  • The Saros price is among the trending coins, soaring 6% to $0.40.
  • Saros has revealed becoming a platinum sponsor of Solana Stable future igniting bullish momentum in the market. 
  • The rising funding rate shows growing investor confidence, which may soon see it rally to $0.50.

The Saros price has struck the trending list, surging 6% to $0.40. Accompanying the price movement is the trading volume, which has soared 122%, indicating growing investor confidence. Recently, Saros announced in an exciting post that it has become a Platinum Sponsor of Solana Stable Future. The partnership is to add to the development of stablecoins and create a sustainable ecosystem in the Solana blockchain.

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The reason why Saros is a Platinum Sponsor is to highlight its penchant for building strong, scalable, and secure financial systems across the Solana network. The event will become a significant milestone, with the representation of experts and thought leaders working in the realm of blockchain and DeFi. Saros is positioning itself to be at the centre of developing the future of the stablecoin industry.

The Saros Stable Future announcement has included both Solana and Solana Stable Future. This emphasises collaborative care of blockchain ecosystems. Saros is not just increasing its visibility by sponsoring this initiative. However, it is also working towards the bigger objective of developing a decentralised financial infrastructure that is resilient and well integrated in the global economy. 

Saros Price Movements and Market Sentiment

Meanwhile, the OI-Weighted Funding Rate of Saros explains the anticipations of the market. Nevertheless, the current data of September has shown that it is stabilised at around the price of 0.40 with an OI-Weighted funding rate of 0.0600%. 

Saros OI-Weighted Funding Rate: CoinGlass

Positive correlation can be observed between the cost of Saros and the rate of financing. This thereby indicates that market players have confidence in the future value of the token. A quick look at the SAROS/USD 4-hour chart shows that the bulls have established a strong support at $0.35 and $0.36. If these key levels hold strong, the Saros price could head towards $0.50. 

Saros price
SAROS/USD 4-hour chart: TradingView

Digging into the indicators, the Relative Strength Index (RSI) at 69.81 cautions traders not to be too greedy. Meanwhile, the Moving Average Convergence Divergence (MACD) shows a slight bullish crossover, calling for traders and investors to buy more SAROS tokens.

Where Is Saros Headed Next?

In the short term, if the bulls push past $0.45, there could be a charge toward $0.50 or higher. The current consolidation and rising SMAs suggest a potential bounce, and the 20% weekly pump signals increased hype in the market. On the flip side, the Saros price could test the $0.38-$0.36 support zones if early profiteering commences.

A breach below this zone could see further downside towards $0.35 safety net. If the bulls lose this key support zone, the bullish thesis in the market may be invalidated. For now, it’s a wait-and-see game. Investors may want to keep an eye on volume and the RSI, because if it soars above 70, we could see a healthy pullback. In the long term, Saros’s fundamentals could fuel a comeback.

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