Cryptocurrencies Price Prediction: Solana, Tether & Bitcoin – European Wrap 21 September

Solana price sustains recovery rally despite falling daily active addresses

Solana (SOL) price shows strong bullish momentum, which has seen the Ethereum (ETH) killer break out from a descending parallel channel. Strangely, the daily active addresses on-chain metric fails to mirror this optimism, which is unorthodox considering the two parameters conventionally to go hand in hand.

Tether increased its secured loans in Q2 despite commitment to reduce lending

Tether Holdings has resumed the lending of its stablecoins in the form of secured loans to clients after announcing that it is set to wind down this practice less than a year ago. The information came to light in the firm’s recent quarterly financial update, according to a report by The Wall Street Journal. 

Bitcoin holds near $27K, but downside risks dominate

Even the Fed's decision and comments failed to inspire crypto investors to move from their entrenched levels. The crypto market capitalisation fell a modest 0.25% on the day, significantly less than the Nasdaq's losses (-1.5%) and more a reflection of the dollar's 0.3% appreciation over the period.