SOL price to soar – Socean pool added to Solana network

by Laura Shin · 08/04/2021

With the price of BTC and ETH up this weekend, many altcoins are trading in the plus. This also affected the SOL coin, but this coin has a number of advantages over the rest, since recently Socean, a stealing pool, was launched.

Until today, SOL coin owners could not trade or exchange their tokens that were on steaking. After the launch of Socean pool stealing, token holders have the opportunity to participate in bidding on the DeFi market and at the same time receive other coins for steaking. The addition of Socean to SOL allows coin owners to receive SOCN tokens, which can be used by analogy with SOL.

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Introducing Socean, a stake pool for #Solana. A ?:
— Socean (@SoceanFinance) July 30, 2021

Now the income of SOL LP tokens to USDC varies about 8%. But if you prefer the SOCN-USDC pool, you will be paid a birthday for steaking and for a diquidity provider, which will give you the opportunity to earn 2 times more. But the advantage is not just in the liquidity provider, because you can use SOCN to earn money in mining.

1/ As a SOL holder, you face a fundamental trade-off between liquidity and returns. ⚖️ While staking SOL grants you rewards (~7% APY), staked SOL can’t be traded or transferred. Staking inherently locks you out of the DeFi ecosystem… until now.
— Socean (@SoceanFinance) July 30, 2021

SOCN token will later be able to fully replace SOL and will become a full-fledged currency itself. It can be used for smart contracts, mining and other innovations of DeFi systems. But before making any forecasts, you need to understand the current state of SOL.

Over the past day, the price of SOL has increased by 20%. At the time of the release of the article, SOL was trading around $34, and trading volume after fluctuations began to increase. Over the past week, trading volume reached about $ 750,000,000.

But recently, the number of news on social networks associated with this altcoin has decreased significantly. Over the past 2 months, the figure has fallen 1.5 times. Public opinion is a key indicator that assesses the community of this asset as a manifestation of interests in its coin. As a rule, the more news, the higher the price of the SOL token.

An important factor is the dominance of the market capitalization of the Solana token, since at the end of June it was 0.6%, which was a record high, but now this figure is decreasing. at the time of the release of the article. This level reached only 0, 53%.

April and May of this year, for altcoin in terms of development grew at a decent pace, but in July this indicator went down. This suggests that the development and scalability of the Solana ecosystem decreased, and three weeks ago the SOL coin ranked 7th in terms of development activity in the monthly schedule of GitHub, and was located next to ETH.

During the same time, other altcoins such as Cardano, Kusama, Polkadot, Filecoin strengthened their position.

According to Staking Rewards, Satschdftf ranks third in terms of crypto assets in steaking. Behind the SOL following in the line are Cardano and Ethereum. Now the indicators are not too good, but Socean stealing can change this situation and increase demand for SOL tokens. This will help the SOL coin change its fate for the coming months.