The tides are turning! Solana's sturdy momentum this month is fizzling out

After the US SEC delayed its decision on all spot Solana ETF filings, the market isn't taking the holdup lightly!

The tides are turning in the crypto bay as new data shows that Solana’s sturdy momentum this month is fizzling out after the US SEC delayed its decision on all spot Solana ETF filings. The market isn’t taking the holdup lightly! As analysts predict the SOL price could retrace to $100, especially with technical indicators flashing red, several experts are keeping their eyes on the new Mantix Exchange that’s quietly dominating the alt market.

With its AI-backed innovative DEX and excellent presale performance, Mantix Exchange is a promising prospect. Its vision to reinvent user-driven asset trading has struck a chord with many savvy investors. Besides, its ongoing presale has already raised over $600K, signaling strong confidence in its long-term potential.

Will Mantix outperform Solana in gains, as many experts predicted? Let’s find out.

Solana Flashes a Bearish Signal as the SEC Holds ETF Approval. What’s Next For SOL?

The winds of uncertainty are sweeping through the crypto market. This time, it’s Solana caught in the storm. Earlier this month, SOL’s price made an impressive comeback. It soared 100% from April lows to a two-month high of $184 until the US SEC made a shocking announcement. On May 19, the agency announced it would delay its decision on several Solana ETF filings, especially from 21 Shares, VanEck, Bitwise, and Canary Capital.

While the SEC insists the holdup isn’t the final verdict, it has dampened market sentiment. In fact, Polymarket odds for Solana ETF have dropped to 82% from 92% earlier this month. SOL price followed suit.

This week, it tumbled 6% to $170 while testing a critical support near its 200-day EMA at $162. If the bearish momentum continues, analysts predict the altcoin could fall to the psychological support at $100.

Onchain data adds fuel to the fire. CoinGlass reported a surge in short positions and a bearish long-to-short ratio of 0.85. Despite all this, institutional interest in Solana has only continued to rise. Recently, Galaxy Digital launched tokenized equities on Solana, months after swapping $100 million to SOL, a move that offers a powerful institutional boost to the network.

Mantix Exchange’s DeFi Powerhouse Transforms Asset Trading; Experts Predict Explosive Growth

While Solana faces uncertainty, smart investors are already diversifying with the new Mantix Exchange presale. Mantix is a first-in-class asset exchange protocol that leverages blockchain’s DLT and L2 scaling solution. Thus, it has built a user-friendly, scalable, transparent, and cost-efficient decentralized exchange for cryptos, security tokens, synthetic assets, NFTs, and even real estate tokens.

This cutting-edge AI AMM DEX offers a much-needed solution to the security, transparency, censorship, and custodial shortfalls of centralized exchanges. Security-wise, Mantix is unmatched. Users get industry-grade security from the protocol’s multi-sig, non-custodial, and smart contract architecture.

But that’s just the tip! Mantix Exchange also integrates several AI and algorithmic trading strategies to improve traders’ decision-making, maximise profitability, and reduce market risk.

The best part? Traders can earn staking yield and governance rights just by holding Mantix Exchange’s native token, $MTX. All these led analysts to predict that the $MTX token could be the next 100x asset that dominates the next altcoin cycle.

Join the Next Defi with Mantix Presale.

Solana is still reeling, but Mantix’s hybrid DEX solution is surprisingly gaining momentum. Within 24 hours, its ongoing presale raised a whopping $600k, and the momentum is still building. Fortunately, you’re early! Mantix Exchange is currently in presale for a fraction of a penny, just $0.02.