The decentralized finance space has become popular within the cryptocurrency industry. Experts believe the DeFi space will become even more important and can complement the traditional financial system.
Opera Beats Brave to Solana Adoption
Norwegian-based Opera announced over the weekend that it would integrate into its browser wallet. This latest development means Opera beats crypto-focused browser Brave into adding Solana to its ecosystem.
According to Opera, it is the first browser to support Solana-based decentralized applications. Opera will launch the support of the Solana dApps on its browser wallet in the first quarter of 2022, while Brave intends to roll out the feature in the first half of next year.
dApps and DeFi protocols will easily be accessed via the Opera browser once the integration is complete. Opera has pointed out on numerous occasions that it intends to support Web3.0 protocols, and the integration of Solana means that it is now ready to do so.
Solana is one of the leading DeFi blockchains in the world, with nearly $14 billion in total value lockedSOL surpassed Cardano last month and is currently the fifth-largest cryptocurrency by market cap, behind Binance Coin, and Tether (USDT).
SOL Underperforms as Bear Trend Continues
Solana, like numerous other cryptocurrencies, is currently undergoing a bearish trend. The prices of most cryptocurrencies are down by more than 20% from the all-time high achieved early last month. Over the past month, SOL has lost more than 30% of its value but remains one of the top ten cryptocurrencies by market cap.
SOL’s technical indicators are looking bearish at the moment. The MACD line dropped below the neutral zone following recent losses. Meanwhile, the relative strength index of 33 shows that SOL could soon enter the oversold region. At press time, SOL is trading around $166 per coin, below its 100-day moving average of $190.
If the current trend continues, then SOL could drop below the first major support level at $162 over the coming hours. In the event of extended bearish performance, Solana would be forced to defend the second major support at $149 before the end of the day.
