Solana Dips as Remittix (RTX) Trends with PayFi Growth
Solana price momentum has cooled after a surge to $209, slipping to around $184.27 amid losing weekly returns and open interest. The US SEC postponed decisions on Solana ETFs until November, prompting traders to pull back. Despite prior accumulation, Solana bulls face renewed downward pressure.
Meanwhile, the Remittix (RTX) project is rising on trending lists with its PayFi solution. Remittix enables direct crypto-to-fiat transfers via API calls, bypassing intermediaries. Its presale price at $0.0922 per token has drawn investors and fueled expectations that the platform could rival Ripple (XRP) in cross-border payments.
Traders should monitor Solana’s ETF outlook and the Remittix launch. Short-term volatility may persist for SOL ahead of regulatory clarity. Long-term, Remittix’s entry into the trillion-dollar payments sector could reshape PayFi adoption and influence market sentiment.
Bearish
The news highlights a clear pullback in Solana’s price momentum after its recent spike to $209 and a postponed SEC decision on Solana ETFs. Historically, regulatory delays on ETF approvals have led to short-term declines in associated crypto assets, as seen with Bitcoin ETF postponements. The decline to $184.27 and reduced open interest suggest bearish sentiment among SOL traders.
On the other hand, the emergence of Remittix (RTX) in the PayFi sector could drive altcoin interest but poses minimal immediate support for Solana. In the short term, SOL may continue to face volatility until ETF clarity arrives. Long term, increased competition in cross-border payments may pressure Solana’s market share, reinforcing a bearish outlook overall.