Solana Records Another Partnership with Web 3 Gaming Company

Updated:

Solana Labs (SOL) has forged a partnership with South Korea-based Krafton to develop and operate blockchain-based games on the SOL blockchain.

Hyung Chul Park, the lead of Krafton’s Web 3 division, expressed his excitement over the partnership, adding that it would help Krafton edge closer to its Web 3 ecosystem goals. Park noted:

“Krafton will continuously see ways to work closely with blockchain companies like Solana Labs as we work toward establishing our Web 3 ecosystem.”

Solana has enjoyed several other partnerships like this in recent times. SOL recently signed an agreement with Block Tackle, a Web 3 gaming startup, which announced that it was developing a Solana NFT skateboarding game.

Meanwhile, America’s largest cryptocurrency exchange Coinbase recently added support for SOL on its browser wallet extension.

On another end, non-profit crypto company The Giving Block recently granted access to Solana blockchain on its platform for a better user experience. Interested SOL holders can now donate to numerous philanthropic initiatives, including the Ukraine relief fund, animal welfare, and over 1,500 other charities.

Notably, SOL has reacted mildly to the announcement, as the cryptocurrency surged towards the $105 mark. This increase comes amid a broader market boom, which has sent the total market valuation back above the $2 trillion mark.

Key Solana Levels to Watch — March 25

Solana has enjoyed some bullish traction over the past two weeks, as it added over $25 to its price. The ninth-largest cryptocurrency kickstarted a bullish rebound from the $77 area on March 14 and sustained that momentum till today, when it peaked at $104.90, its highest point since March 2.

SOLUSD 2022 03 25 16 44 21.png
SOLUSD – 4-Hour Chart on FTX. Source: TradingView

However, the bearish force around the $105 barrier remains firm, as the proof-of-history cryptocurrency stumbled by over 4% within the last few hours to settle on the $100 price point again. That said, we could see some bearish momentum over the weekend as trading conditions entered overbought territories. Nonetheless, the cryptocurrency remains poised to close this month’s candle above the $100 mark.

Meanwhile, my resistance levels are $105, $110, and $120, and my support levels are $100, $90, and $85.

Total Market Capitalization: $2 trillion

Solana Market Capitalization: $32.3 billion

Solana Dominance: 1.6%

Market Rank: #9

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.