GoMining Expands to Solana; Native Token Struggles to Break $0.5

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As a researcher, I’m excited to share that GoMining, a leading Bitcoin mining firm, has revealed its foray into the Solana blockchain. While our native token, GOMINING, is currently hovering around $0.4974, down 0.16% in the last 24 hours, more information about this new venture will be disclosed on Wednesday. This announcement could potentially ignite a bullish trend for our token.

Based on a post on X (formerly Twitter), GoMining suggests that their upcoming development could be extremely significant, potentially indicating the introduction of fresh services and goods as the new cryptocurrency market year commences.

Solana Tops DEX Volume, While GoMining Tokenizes BTC Mining

GoMining attracts retail investors by converting Bitcoin mining power into tokens, allowing users to receive direct BTC rewards. Simultaneously, Solana has been leading DEX trading volumes since October, reaching a staggering $24.51 billion in January, as per DefiLlama data, surpassing Ethereum‘s $11.8 billion.

The move to extend operations onto the Solana blockchain precedes the launch of GoMining’s unique digital tokens (NFTs) on Magic Eden, the most significant NFT marketplace within the Solana ecosystem. According to DappRadar statistics, the daily trading volume of this marketplace currently amounts to approximately $900,000, representing a 44% increase.

In simpler terms, the head of GoMining, Mark Zalan, stated in an interview with TheBlock, that it’s crucial for Bitcoin, as the most significant digital asset protocol, to be within reach of all crypto market participants. This means that regardless of the blockchain they prefer, everyone should have the opportunity to include Bitcoin as a part of their cryptocurrency investment portfolio.

GOMINING Token to Break $0.5?

The Solana expansion plans to include the GOMINING token in its DEXs (Decentralized Exchanges), making it more accessible for traders as an altcoin. At the moment, GOMINING holds a market cap of $205.6 million and ranks 325th on CoinMarketCap. Notably, its trading volume has seen a significant increase of 15%, reaching $10 million within a 24-hour period.

The GOMINING daily chart shows a generally positive trend as indicated by the Relative Strength Index (RSI), currently at 54.35. However, the slope of the line hints at potential short-term volatility or oscillation.

In simpler terms, the MACD line (which is blue) almost touches the signal line (red), suggesting a potential bearish trend. However, for the bulls to avoid this situation, they must exert control over the token’s price movement.

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2025-01-07 20:33