Undisclosed Solana AI Project Secures Over $33M in Presale Amid Growing Investor Interest
Summary:
The presale address for an undisclosed artificial intelligence project on Solana amassed over $33 million worth of Solana tokens in under an hour. The surge of investor attention coincides with an era of high investor eagerness as indicated by a high Crypto Fear and Greed Index. This has given Solana's blockchain a renewed interest and is emerging as a potential Ethereum competitor. Furthermore, Solana is increasingly popular in the memecoin frenzy, with Solana-based memecoins' presales gathering over $100 million in just three days.
An undisclosed Solana-based artificial intelligence (AI) project's presale address raked in over $33 million worth of Solana (SOL) tokens within an hour. The details of this early-bird investment period were disclosed on platform X by blockchain detective, Dexter on March 18. The AI project wasn't disclosed, but was labelled as the "most ambitious project to date." Despite limited knowledge, the wallet address saw an influx of 159,300 SOL, equating to roughly over $33 million within 50 minutes of the X post going live. This surge has been attributed to the presale's exclusive 24-hour window, as stated by Dexter on the platform. The level of investor participation comes during a period of high investor eagerness, with a Crypto Fear and Greed Index at 77, indicating high but slightly subdued levels of investor greed from last month's peak of 90.
Solana's blockchain has seen a fresh wave of investor attention, heating up its potential as an Ethereum competitor. On March 17, Ethereum posted approximately $14 million in revenue versus Solana's $4 million. However, this gap has been reducing, compared to last month's 17-fold difference, according to OxMert, the CEO of Heliuslabs. The increased interest in Solana is also due to the current trend of investing in memecoins.
Presales of memecoins based on the Solana blockchain have generated more than $100 million worth of SOL in the three days leading up to March 18. Book of Meme (BOME), Nap (NAP), Nostalgia (NOS), and several others have been part of this trend of earning capital for their unreleased coins through presale models.
Published At
3/18/2024 4:14:42 PM
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