Former Kickboxer Sparks Crypto Controversy with Solana Promotion

• Former kickboxer, once critical of crypto, sparks uproar promoting Solana tokens.
• Solana price reacts to influencer’s Twitter activity, showing volatility.
• Analysts weigh in on Solana’s price movements, citing support and resistance levels.

Former kickboxer and self-proclaimed misogynist, Andrew Tate, known for his controversial statements, recently caused a stir in the crypto world by promoting various Solana tokens and making racially charged comments on X. This unexpected move came from someone who had previously dismissed crypto as a scam, adding to the intrigue of the situation.

The chaos began when the individual, on Friday, announced on X that he would “diamond hands” $1 million worth of random assets if his post received a certain number of retweets. “Diamond hands” is a term used to describe holding onto an asset long-term regardless of its price fluctuations, showing strong conviction in its value.

Shortly after hitting his engagement target, the individual posted another post stating, “I WILL CRASH THE SOLANA NETWORK.” This statement was interpreted as a plan to buy up a significant amount of tokens on the Solana blockchain, potentially causing it to crash. Currently, Solana processes around 1,900 transactions per second.

In response to these events, VeLLa Crypto, an analyst, shared insights on the recent price movements of Solana’s native token, SOL. The chart analysis highlighted key support and resistance levels, indicating potential price movements. Despite a recent dip in price, the analysis suggested a possible bullish scenario if the price could hold above $155.

The price of Solana’s SOL token stands at $162.09 at press time, with a 24-hour trading volume exceeding $3.1 billion. This represents a 5.61% decline in the last 24 hours and a 2.91% decline over the past week. With a circulating supply of 460 million SOL, Solana’s market cap is valued at $74.75 billion.

The unexpected turn of events involving the former kickboxer and his foray into promoting Solana tokens has added a new layer of excitement and unpredictability to the crypto world. As the situation continues to unfold, many will be watching closely to see what impact, if any, this will have on Solana’s network and the broader crypto market.