• SOLO, the XRP Ledger and BNB Smart Chain-based native token that powers the asset tokenization-focused Sologenic platform, has been surging in the last few days.
• SOLO is currently changing hands at around $0.18, up around 14% on the day and taking its run of gains since the start of the week to around 22%.
• Some traders have attributed SOLO upside in recent sessions to anticipation ahead of an upcoming airdrop of CORE tokens to SOLO holders.
SOLOGENIC’S SOLO PUMPING AHEAD OF MAJOR AIRDROP
The XRP Ledger and BNB Smart Chain-based native token of Sologenic, SOLO, has been on a surge in the last few days despite a slump in the broader cryptocurrency markets. At the time of writing, it is trading at around $0.18, which is a 14% increase from the day before and a 22% increase from the start of the week.
Many traders are attributing this surge in SOLO to the anticipation of an upcoming airdrop of CORE tokens to SOLO holders. CORE is the cryptocurrency that will power the Coreum blockchain, a brand-new asset tokenization platform. The airdrop will take place on December 31, 2022 and is expected to increase the demand for SOLO, thus driving its price higher.
SOLO has been met with resistance from its 50, 100 and 200-Day Moving Averages and the mid-November lows, which has triggered a round of profit-taking. But SOLO has a strong support base in the $0.12-1350 area and bulls are hoping that the price will soon break the $0.20 barrier and reach a new peak at $0.40.
The Sologenic ecosystem is an integrated platform that combines the power of the XRP Ledger and Binance Smart Chain (BSC). It is a platform where users can tokenize real-world assets such as stocks, ETFs, and other commodities, and trade them in a secure, fast, and cost-efficient manner. The platform also offers easy access to financial services such as margin trading, staking, and yield farming.
SOLO is the native token of Sologenic and is used to access the platform’s services. It is also used to power the tokenization of real-world assets and to facilitate trades on the platform.
The upcoming airdrop of CORE tokens is expected to significantly increase the demand for SOLO, thus driving its price even higher. This could be a great opportunity for investors to capitalize on the surging price of SOLO before the airdrop. With a strong support base, SOLO is set to reach new heights and has the potential to become one of the most sought-after tokens in the cryptocurrency space.