Solana flips Ethereum on nearly every metric: Another crypto to watch

Analyzing Solana’s recent surge and Remittix as another crypto to watch.

Solana (SOL) is regaining strength after its blockchain experienced record-high DEX volumes on January 19. Although SOL is yet to hit the $300 price level, analysts are optimistic that the rally will continue for the next few weeks.

Meanwhile, another DeFi altcoin is dominating the headlines; the new Remittix PayFi protocol. By looking to simplify cross-border payments and remittances, Remittix is attracting thousands of new investors during its presale. 

Solana continues rally amid increased demand

Solana reached a new all-time high price of over $290 on January 20 after the release of Donald Trump’s TRUMP token on its blockchain. After this rally, Solana’s price saw a minor correction though investors remain bullish. The SOL/USDT monthly chart also confirms the bullish theories as Solana recently broke out of a cup and handle pattern. 

Solana’s social dominance has also peaked in the last seven days. With more conversations around Solana, analysts expect SOL’s price to increase because of high demand. Solana’s decentralized exchange volume also surpassed $27 billion on January 19, which was more than BNB Chain and Ethereum combined. 

If the bullish trend continues, it could positively impact Solana’s price. Solana currently trades for $256.43 after a 24-hour increase of 16.82%. Since Solana’s Momentum Indicator reflects bullish dominance on the daily chart, Solana’s price could test the critical $300 resistance soon. 

Remittix attracts massive capital inflows

Remittix is a PayFi altcoin designed to make cross-border payments simpler than ever before. In the early stages of its presale, Remittix has accumulated over $5.4 million, with a massive adoption rate. 

Remittix’s appeal lies in its aim for seamless crypto-to-fiat conversion within 24 hours and the removal of hidden fees. Using the platform individuals will be able to convert their cryptocurrency into fiat and deposit funds in local bank accounts without third-party intermediaries. 

User security is the top priority on Remittix as the platform will use a fully audited smart contract to process every transaction. With no central authority, Remittix ensures that each transaction is peer-to-peer and has no banking restrictions. Remittix is also committed to transparency because the platform uses blockchain technology to provide a public ledger for all transactions made on the platform. All payment records are 100% immutable, enhancing user trust in Remittix’s new PayFi ecosystem.

Remittix will further support cross-border e-commerce transactions through its Pay API. Merchants will be able to use Remittix to receive payments in cryptocurrency from customers and cash out in 30+ fiat currencies or 50 different cryptocurrency pairs. The user-friendly Checkout feature will give customers the same level of security as traditional payment methods, putting Remittix at the forefront of DeFi. 

The Remittix PayFi ecosystem is powered by a native RTX token, which will offer utility and governance rights to long-term investors. VIP-tier holders will enjoy staking rewards with up to 18% APYs as well as premium voting privileges that convert them from investors to significant stakeholders in the Remittix ecosystem. 

Given Remittix’s user-first approach and low-cost payment solution, analysts expect this new PayFi protocol to outshine Solana’s blockchain. As Remittix bridges the gap between traditional and digital currencies, the RTX token is expected to record several demand-induced price jumps. 

Currently, RTX tokens are selling for $0.0297, giving traders a lower entry point before the price increases in the next presale phase. 

For more information on Remittix, visit their website or online community.