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Solana Price Is Up Today, Why It is Rising According to On-Chain Data?
The post Solana Price Is Up Today, Why It is Rising According to On-Chain Data? appeared on BitcoinEthereumNews.com. The Solana price is finally getting traction in the market, where it has just created a month-high at $158.74 after surging 4.8% today. The altcoin slowly gained momentum over the last few days before finally jumping out of the week-long consolidation. In the last 24 hours, not only has the price increased, but its trading volume is also up by 66.88%, currently at $3,244,572,966, which is an indication of increased network activity. As Solana has been among the top ten cryptocurrencies in the market, its demand is always high. It was one of the best-performing altcoins of 2023, and the price is 747% up since then. This surge comes from its long-profiting nature and other on-chain metrics, attracting more investors day every other day. Why Is Solana Price Up Today? Solana has been constantly in demand this year, especially among the meme coins category. In the last nine months, many popular Solana meme coins entered the market, which produced significant gains for their holders. However, the impact of that demand was not visible in the SOL price, as it laid low with a few minor peaks here and there. Today is one of those days where the Solana price is up following the greedy sentiments of investments. A new bullish trend has entered the market, with the Bitcoin price hitting the $65K mark, and this is just the beginning of the $80K journey. Many crypto analysts have anticipated a high BTC price rally in Uptober. This greedy nature is also visible in popular altcoins like Solana, as trading volume has surged exponentially today, boosting the token price. However, the on-chain activities have increased significantly over the past few months not just today. On Chain Data Backs Up Solana Price Surge The ongoing surge in the Solana price perfectly aligns with…
The post Solana Price Is Up Today, Why It is Rising According to On-Chain Data? appeared on BitcoinEthereumNews.com.
The Solana price is finally getting traction in the market, where it has just created a month-high at $158.74 after surging 4.8% today. The altcoin slowly gained momentum over the last few days before finally jumping out of the week-long consolidation. In the last 24 hours, not only has the price increased, but its trading volume is also up by 66.88%, currently at $3,244,572,966, which is an indication of increased network activity. As Solana has been among the top ten cryptocurrencies in the market, its demand is always high. It was one of the best-performing altcoins of 2023, and the price is 747% up since then. This surge comes from its long-profiting nature and other on-chain metrics, attracting more investors day every other day. Why Is Solana Price Up Today? Solana has been constantly in demand this year, especially among the meme coins category. In the last nine months, many popular Solana meme coins entered the market, which produced significant gains for their holders. However, the impact of that demand was not visible in the SOL price, as it laid low with a few minor peaks here and there. Today is one of those days where the Solana price is up following the greedy sentiments of investments. A new bullish trend has entered the market, with the Bitcoin price hitting the $65K mark, and this is just the beginning of the $80K journey. Many crypto analysts have anticipated a high BTC price rally in Uptober. This greedy nature is also visible in popular altcoins like Solana, as trading volume has surged exponentially today, boosting the token price. However, the on-chain activities have increased significantly over the past few months not just today. On Chain Data Backs Up Solana Price Surge The ongoing surge in the Solana price perfectly aligns with…
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