Key Points Shiba Inu is an Ethereum-based crypto token with a highly speculative investment community. Can the asset live up to its reputation for epic gains? 10 stocks we like better than Shiba Inu › You can do all the fundamental analysis you want, but sometimes winning in financial markets comes down to sheer luck and diamond hands. Don't believe me? Simply ask early investors in Shiba Inu (CRYPTO: SHIB). According to analysis from CoinMarketCap, the meme coin posted a total gain of 11,430,362%, ...

Core Insights - Solana experienced a remarkable growth of over 11,000% in 2021, reaching a peak price of nearly $295 in January 2022, and trading between $190 and $250 in September 2022 [1][2] - Analysts from Standard Chartered predict Solana could finish 2022 at $275 and reach $500 by 2029, contingent on its ability to capture a larger share of the stablecoin and tokenized asset markets [2] Market Position and Performance - Solana's total value locked (TVL) is currently $12.5 billion, representing about 9% of all on-chain funds, making it the second-largest blockchain after Ethereum, which has a TVL of $94 billion [4] - The TVL of Solana has increased significantly from $1.4 billion at the start of 2024, indicating strong growth potential in decentralized finance (DeFi), stablecoins, and tokenized assets [5] Future Growth Potential - Solana's price is closely linked to its TVL, and capturing a larger share of the tokenization market could lead to further value locked on the chain [6][7] - The tokenization of real-world assets, such as real estate and stocks, presents a significant opportunity for Solana to expand its ecosystem and drive TVL growth [8]

Market Overview - Major cryptocurrencies, including BTC and ETH, are experiencing capital outflows from futures, leading to a decline in open interest [3] - Solana's open interest reached a record high of over 70 million SOL, indicating bullish capital inflows [3] - IMX, the native token of Web3 gaming platform Immutable, rose 15% in the past 24 hours, with daily trading volume doubling to $144 million [3] Derivatives Positioning - AVAX's open interest rose over 14%, with its market cap approaching $13 billion for the first time since February 2 [3] - On the CME, Solana futures open interest pulled back to 7.63 million SOL from a record 8.12 million SOL on September 12, but the three-month annualized premium remains above 15% [3] - The bias for BTC and ETH put options is easing as traders anticipate Fed rate cuts, while SOL and XRP options remain bullish [3] Institutional Interest - The ETF MVRV climbed to 2.29, indicating strong institutional bids, although spot cumulative volume delta weakened [2] - The mismatch in momentum without broad participation suggests a potential for a headline-driven retracement or a sharp follow-through depending on the Fed's decisions [2] Gaming Sector Insights - The gaming sector is projected to reach $200 billion in revenue this year, with further growth expected by 2026 [3] - Immutable's partnership with Ubisoft for the next iteration of Might and Magic Fates positions it well to capitalize on the anticipated growth in the gaming industry [3] Blockchain and NFTs - Blockchain technology may play a significant role in gaming, particularly with trends shifting towards in-game ownership of items through non-fungible tokens (NFTs) [4] - IMX is currently trading at $0.736, having broken out of a key resistance level, with expectations to test $0.70 as support [4]