Solana’s native SOL token rose 9% in the past 24 hours, rebounding from a challenging weekend in the crypto market.
Major cryptocurrencies like Bitcoin and Ethereum also saw gains, signaling that investor sentiment may be shifting bullish once more.
However, the standout performer has been the new GambleFi token TG.Casino, which seeks to revolutionize the crypto casino sector through its integration with Telegram.
Solana’s Technicals Flash Bullish as Token Surges Back Above $70 Level
SOL is now trading around the $73 level, just below Friday’s intra-year high of $79.50.
This rebound follows SOL’s 15% drop over the weekend, where it reached a low of $67 on Monday morning.
However, Solana has seen healthy trading volumes during its Tuesday recovery, topping $1.9 billion.
This suggests investors are buying the dip, anticipating SOL could surpass Friday’s high.
The technical picture also looks promising for SOL, as the token has surged back above the 20-day exponential moving average (EMA) on the 4-hour chart.
SOL seems to be treating this EMA as a dynamic support level, indicating that bullish momentum may be returning.
If SOL can hold above this level, the token could be primed for further gains in the coming days.
Crypto analyst CSK on Twitter seems to agree, stating that the token has “a long way to go.”
Network Fundamentals Strengthen as Circle Deploys EURC on Solana Blockchain
Solana’s price recovery comes amid growing fundamental strength for the network.
Stablecoin issuer Circle recently deployed its Euro-backed coin EURC natively on Solana, marking a significant adoption milestone.
Circle aims to boost around-the-clock foreign exchange transactions and remittances by having EURC on Solana due to the network’s fast speeds and low fees.
Key Solana DeFi applications, including Jupiter Exchange and Meteora, have integrated EURC support.
As Circle positions EURC as a regulated e-money token under upcoming EU regulations, it brings additional legitimacy to the Solana network.
This expanding infrastructure for tokenized Euros has contributed to the speculative interest in SOL.
Investors likely expect demand for SOL to increase over time as more Euro-based DeFi activity occurs on Solana’s blockchain.
For this reason, SOL’s price action could continue to be influenced by developments related to the usage of EURC on Solana.
TG.Casino Emerges as Potential Hidden Gem in the Crypto-Gambling Sector
While the developments on Solana have been bullish for SOL, a new penny crypto project called TG.Casino (TGC) has been an even bigger gainer recently.
This groundbreaking project offers a fully licensed blockchain-based Telegram casino, integrating slots, live tables, and sports betting.
Users can bet with cryptocurrencies, including the native TGC token, which offers 25% cashback on losses.
The platform requires no KYC and allows seamless deposits, all through the security of blockchain technology.
Despite launching just a few months ago, TGC’s ongoing presale has raised over $4.6 million, rapidly approaching its $5 million final funding goal.
While TGC tokens are currently exclusive to the presale, the fully operational TG.Casino platform has attracted over 3,000 players so far.
According to reports, more than $45 million has already been wagered on the platform, making it a significant player in the growing GambleFi sector.
The platform’s rapid adoption and the enthusiastic response to its presale have even resulted in shout-outs from leading crypto personalities like Crypto V.O.
As the TG.Casino platform continues to expand, many presale investors believe that TGC could be primed to explode in value once it hits the open market.
For speculative traders, TGC presents an exciting opportunity to capitalize on the growth potential of the crypto-gambling sector.
Visit TG.Casino Presale