Solana loses the $80 support level – Will the price drop to $60 after the Drift Protocol hack? Under strong selling pressure, SOL has broken the descending flag pattern around the $80 mark, confirming a continuation trend after the accumulation phase. At the time of writing, the price is testing the $78.50 support zone – a key short-term level. The rejection at $93.26 has caused many investors to become "trapped," creating hidden supply whenever the price rebounds. As the price continues to stay below the broken structure, the market officially enters the post-breakdown phase. If the $78.50 level cannot hold, the $60 zone is likely to become the next liquidity target. A major Solana holder accepted a loss of over $4 million after selling 47,401 SOL, amid the exploit incident related to Drift Protocol that sparked market instability and forced many to sell off. This development clearly reflects the direct impact of exploit risks on price behavior, as SOL dropped 5.85% to $79.26 amid increasing selling pressure. Notably, this address had previously accumulated 91,891 SOL worth a total of $16.04 million at the $175 level, indicating a shift from a holding strategy to a "surrender" stance as market conditions worsened. $SOL

Recently, I noticed that many newcomers are confused by the terminology of the crypto market. For example, what is an altcoin — it seems like a simple question, but the answer turns out to be more interesting than it first appears. Essentially, an altcoin is any cryptocurrency or token that is not Bitcoin. It sounds simple, but this definition encompasses a wide variety of projects. Ethereum, Solana, Dogecoin, XRP — all of these are altcoins. Even stablecoins like USDT fall into this category. The main condition is that it’s not Bitcoin and it operates on a blockchain. Interestingly, the first tokens only started appearing in 2015 with the launch of Ethereum. Before that, there were only cryptocurrencies with their own blockchains. Ethereum made things easier for developers — now they can issue a token without creating a new blockchain. It’s like the difference between building a house from scratch and renting a room in an existing building. As for which altcoins are currently trending — the data shows an interesting picture. Ethereum remains the king in market capitalization among all altcoins. It’s currently trading around $2,050, despite having been worth just pennies at one point. BNB holds second place, with a price of $587. Solana gained significant popularity in 2024 thanks to meme tokens on its network, now valued at $80. XRP is interesting because of its story — the project won a court case against the SEC and is now trading at around $1.32. One of my favorite stories is Dogecoin. The cryptocurrency was created as a joke in 2014 but later gained support from well-known people and now costs $0.09. This shows that anything can happen in the crypto market. But the most interesting topic is altseason. Altseason is a period when altcoins grow much faster than Bitcoin. It’s not just about price — it’s a redistribution of capital in the market. Signs of an approaching altseason include Bitcoin stabilization, increased trading volumes, and approval of new ETFs. If the SEC approves spot ETFs for Ethereum or Solana, it could trigger a real altseason. Analysts say that projects from the top 50 by market cap have the greatest potential during altseason. Toncoin, TRON, Polygon, Stellar — these are the ones to watch. When capital flows out of Bitcoin, these projects tend to see the biggest gains. In general, what is an altcoin? It’s not just an alternative to Bitcoin — it’s a whole ecosystem of innovation and opportunities. And if you’re still not clear on this, now is the perfect time to start tracking this asset category on Gate. It’s convenient to view quotes of all major altcoins and analyze their movements there.

Night entry at points, day entry points: short BTC at 67,200, short ETH at 2,077—easy and satisfying profit!