Remittix Price Action is Gaining Traction as Recovery in Network Activity Alongside Technical Factors Paints a Bullish Outlook for SOL

The Solana price action is gaining traction as recovery in network activity alongside technical factors paints a bullish outlook for SOL.

An altcoin behemoth is rolling in the green throughout the latest market downturn, and a new project is making a huge impression with its real-world payment solutions and rapid early adoption.

As Solana price action continues to gain traction with a recovery in network activity and technical factors presenting a bullish outlook for SOL, another token is making waves with its innovative PayFi solution.

Its presale has seen $14.7 million pour into the project as investors who got in early have already seen 550% in profits and are expecting another 1000% before the end of the altcoin season.

Investors are flocking to Remitix’s PayFi utility as it prepares for a 1,000% surge.

Source: Remitix

Solana might be turning heads with its technical prowess, but for those seeking an early-stage gem in the realm of new crypto projects, Remitix should be on the radar.

This cutting-edge PayFi project offers a simple solution to a common problem faced by individuals and businesses. It is on a mission to revolutionize the way people send and receive money across borders, combining the best of cryptocurrency and traditional finance.

At the heart of Remittix lies its ability to connect over 100 cryptocurrencies for direct fiat deposits into bank accounts in over 150 countries. This unique capability is particularly relevant to specific geographical areas targeted by the project.

For instance, consider Southeast Asia, a region known for its large unbanked population, or Africa, where individuals and businesses often rely on expensive money transfer services.

Now, imagine a freelance writer in Nigeria who regularly receives payments from foreign clients in various cryptocurrencies and needs to use local currency (e.g., Naira) to pay bills and daily expenses. To withdraw these crypto earnings in fiat currency, they typically face high fees and limited options.

However, with Remittix, these individuals and companies can seamlessly work together, meeting their financial goals without any hassle.

Firms and companies can easily integrate the Remitix Pay API to accept payments globally and process transactions in fiat to any supported global bank. This decentralized nature, free from third-party involvement, ensures rapid payment settlement within minutes, unlike services like Coinbase. Moreover, Remitix facilitates global payroll and workforce payments with its support for over 50 crypto pairs and up to 30 fiat currencies.

Consequently, the project is already attracting users and witnessing a massive influx of investments ahead of its final public launch.

Solana price begins micro rally towards $220 amid rising on-chain activity, and ETF odds soar

The Solana price is recovering from its 62% yearly loss, with its trading volume also surging more than 35% in April alone. This trend shift coincides with a buildup in on-chain activity.

As Solana’s future open interest nears an all-time high, CoinGlass data reports that SOL’s realized volume on April 27 was 40.5 million SOL. In dollar terms, this equates to $5.75 billion in futures positions.

Among digital assets, the demand for Solana derivatives ranks third, and in terms of volume, it’s over 50% higher than the liquidity used for XRP derivatives.

Similarly, Solana stablecoin activity has seen a peak after a steady rise since February. According to DefiLlama data, the stablecoin market capitalization has reached $13.16 billion.

Building on this momentum, Ali Martinez spotted a cup and handle pattern on the Solana price weekly chart. According to the analyst, the price target from this market play is as high as $3,000.

On the institutional front, Bloomberg Intelligence noted that the likelihood of US regulators approving a Solana spot ETF in 2025 has increased to 90%.

These revised odds place Solana ahead of Dogecoin, Cardano, and XRP, which could further foster the bullish outlook for the altcoin.

Conclusion

Several Solana market oscillators are showing positive signals, which could bode well for extended market rallies.

However, Remitix’s cross-border payment features and utility in the broader DeFi space make it a strong contender, especially with its RTX token used for cashback and other promotional offers to generate even greater demand.

$RTX tokens are currently available for presale at $0.0757.