Cardano Plans Major Network Upgrades as UNIL and Solana Gain Investor Attention

Despite announcing a major network upgrade, the Cardano price has declined by over 10%. Instead of riding this downtrend, a better bet might be pivoting to high-potential altcoins with significant upside. The SOL price is set for a new peak this year and Unilabs Finance (UNIL) might be this cycle’s best new crypto to invest in.

With room to run, these are must-have tokens. The Layer-1 coin could flip Ethereum, with an SOL ETF on the cards. Meanwhile, Unilabs Finance’s novelty as the first AI-backed DeFi asset manager signals massive adoption and growth.

Will the Cardano Price Rebound or Not?

In recent news, the Cardano community approved a major development proposal to fund major network upgrades. A $70 million grant was approved to Input Output Engineering, the development team behind the blockchain network. However, the decision, announced on August 2, has had no significant impact on the Cardano price.

On the weekly chart, the Layer-1 altcoin has declined by over 10%. It hovers above $0.73, with technical indicators suggesting further decline in the Cardano price. According to the Awesome Oscillator and MACD Level, ADA could retest lower price levels and potentially dip below $0.7.

Moreover, trading volume has decreased by over 20% in the past week, signaling declining momentum. However, platform-generated fees have increased by 20% in the past month to $285,000, indicating adoption of the smart contract platform. A breakout above $0.8 with a strong volume could push the Cardano price above $1.0, making it one to watch.

How High Can the Solana Price Explode This Year?

The Solana price registered a 30-day high of $205, rounding off an impressive July. According to Token Terminal, the trading volume increased by over 150% in the past 30 days to $338 billion and monthly fees exceeded $40.5 million. Further adding to its bullish price outlook are technical indicators.

Supported by the Hull Moving Average and the Williams Percent Range, the Solana price is primed to reclaim $205 after falling below $170. The bulls pushing the Layer-1 coin above $185 is expected to drive FOMO, making a retest of its 30-day peak inevitable.

Reaching this key level will in turn set the stage toward surpassing January’s all-time high of $294 and going on price discovery. Uchennà Dávid, a crypto analyst, is optimistic about the Solana price soaring above $1,000, with many experts sharing a similar sentiment.

Unilabs Finance (UNIL) — The Next Big Thing in the Crypto Scene?

Unilabs Finance (UNIL) is a new DeFi protocol that arose as an alternative to traditional financial markets. Leveraging artificial intelligence, it will be the world’s first AI-backed asset manager for digital assets. Moreover, as a presale token, its upside potential is staggering and it is considered the best new crypto to invest in.

With over $30 million in AUM, its goal is to give investors diversified exposure to the crypto market across hot narratives like AI, DePIN and RWAs. Its four specialized funds include BTC Fund, Mining Fund, RWA Fund and AI Fund, accommodating diverse investor profiles and strategies.

It further stands out with its Early Access Scoring System (EASS), which evaluates and ranks new projects based on team credibility, use-case potential, tokenomics, technological innovation and market sentiment. Given future adoption, it could outperform BNB, a DeFi protocol with a $105 billion market cap, due to its governance features, periodic airdrops and consistent yield-sharing among users.

Closing Thoughts

Despite the approval of a major development proposal, the Cardano price is in the red. Meanwhile, the Solana price is poised for a rebound and UNIL is being hailed as the best new crypto to invest in due to its growth prospects. As an emerging cryptocurrency, it costs just $0.0085 in the fifth ICO stage and a 488% gain is projected on the launch date, driving demand and pushing early funding past $10 million.

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