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According to PANews, data from SolanaFloor reveals that Solana validators generated a total revenue of $445 million in October. This significant income highlights the ongoing growth and activity within the Solana network. Validators play a crucial role in maintaining the network's security and efficiency, and their earnings reflect the network's increasing transaction volume and user engagement. The substantial revenue underscores Solana's position as a prominent player in the blockchain space, attracting both developers and investors. As the network continues to expand, the role of validators remains vital in supporting its infrastructure and ensuring seamless operations.

According to Foresight News, Solana's perpetual contracts have achieved a new milestone in daily trading volume. Over the past 24 hours, the total trading volume for Solana perpetual contracts reached $2.289 billion. Of this amount, Jupiter accounted for $1.87 billion, representing 82% of the total trading volume. This significant increase in trading volume highlights the growing interest and activity in Solana's perpetual contracts. The substantial contribution from Jupiter underscores its dominant position in the market, as it continues to attract a large portion of the trading activity. This development is indicative of the broader trends within the cryptocurrency market, where perpetual contracts are becoming increasingly popular among traders seeking to leverage their positions. The record-breaking trading volume for Solana's perpetual contracts reflects the platform's expanding influence and the confidence traders have in its offerings. As the cryptocurrency market evolves, platforms like Solana are likely to see continued growth in trading volumes, driven by innovative financial products and a robust trading ecosystem. This trend is expected to persist as more traders and investors turn to digital assets for diversification and potential returns.

According to Odaily, the cryptocurrency Solana (SOL) has experienced a significant price increase, surpassing the 190 USDT mark. As of the latest update, SOL is trading at 190.05 USDT, reflecting a 24-hour growth of 4.98%.This upward trend in Solana's value highlights the ongoing volatility and dynamic nature of the cryptocurrency market. Investors and traders are closely monitoring these fluctuations as they navigate the ever-changing landscape of digital assets. The recent surge in SOL's price may attract further attention from market participants looking to capitalize on potential gains.As the cryptocurrency market continues to evolve, Solana's performance remains a focal point for analysts and enthusiasts alike. The recent price movement underscores the importance of staying informed about market trends and developments. With the current trading price at 190.05 USDT, Solana's trajectory will be closely watched in the coming days.

According to Cointelegraph: Solana (SOL) surged 5.3% to trade above $167, following Bitcoin’s election-driven rally to $70,550. With traders setting a target closer to $200 for SOL, on-chain data and derivatives metrics indicate potential for continued growth in the near term. Solana’s recent gains highlight its resilience and correlation with Bitcoin’s performance, attracting traders looking to capitalize on the broader crypto rally surrounding the U.S. presidential election.Solana Dominates DEX Volume, Outperforming Ethereum in Key MetricsSolana’s strong performance in decentralized exchange (DEX) volumes underscores its user activity and transaction efficiency, factors crucial for long-term sustainability and network growth. Recent data shows Solana’s DEX activity reaching $11.86 billion in weekly volume, surpassing Ethereum’s layer-2 solutions. This edge reflects Solana’s capacity to attract users and projects, highlighting its competitive advantage in low-fee, high-speed transactions.Staking Yields and Reduced Inflation Rate Strengthen Solana’s AppealSolana's native staking yield stands at 6.5%, with 66.9% of the circulating supply involved in network validation, outpacing Ethereum’s 28.6% staking ratio and BNB Chain’s 22.4%. This higher staking participation rate, combined with a reduced inflation rate of 5.4% (down from 5.7%), offers a favorable environment for SOL holders. In contrast, Ethereum’s staking setup is more consolidated, limiting immediate liquidity for its tokens.Positive Funding Rates Indicate Balanced Demand for SOL FuturesOn the derivatives front, demand for SOL futures is balanced, with a positive funding rate suggesting traders remain neutral to slightly bullish. Solana’s activity on perpetual futures markets, even with a recent price dip to $155, reflects optimism among traders and potential leverage buying support for a rally toward $200.Election and Fed Rate Decision Could Influence Solana’s TrajectoryWhile Solana’s metrics are strong, external factors such as the U.S. presidential election results and Federal Reserve interest rate announcements could impact its trajectory. Market participants are cautious, as these events may introduce volatility, affecting both Bitcoin and Solana’s near-term performance.With robust network metrics, high staking yields, and positive market sentiment, Solana is well-positioned for further gains. However, traders remain attentive to upcoming election outcomes and macroeconomic shifts that could influence the overall crypto market landscape.Read More:Ether Traders Brace for Downside as ETH/BTC Hits Multi-Year Lows Bitcoin Hits New Record Above $75K as Trump Dominates Early Voting in U.S. Election Whale Liquidated for $74.98 Million After Bitcoin Reaches New All-Time High

According to Cointelegraph, VanEck has introduced an exchange-traded note (ETN) in Europe that tracks the performance of the Pyth Network's native token, PYTH. This new financial product will be available on Euronext Amsterdam and Euronext Paris, providing access to investors across 15 European countries, including Germany, France, Norway, and Switzerland.The Pyth Network is a decentralized oracle protocol that facilitates the interaction of smart contracts with off-chain data and other blockchain networks. PYTH serves as the governance token for the Pyth Network and boasts a fully diluted market capitalization of approximately $3.4 billion, as reported by CoinMarketCap. Martijn Rozemuller, CEO of VanEck Europe, emphasized the growing importance of blockchain-based smart contracts in the financial sector, highlighting the critical role of oracle networks in enabling real-world applications for these contracts. Rozemuller further noted the potential of the Pyth Network to become a vital component of decentralized finance application infrastructure.An ETN is a debt instrument that tracks the performance of an underlying asset. The VanEck Pyth ETN is designed to align with the MarketVector Pyth Network VWAP Close Index and is fully collateralized with physical PYTH tokens. These tokens are held by Lichtenstein-based custodian Bank Frick. VanEck has previously launched over a dozen exchange-traded cryptocurrency products in Europe, covering digital assets such as Solana (SOL) and Chainlink (LINK). In the United States, VanEck has also introduced two spot crypto exchange-traded funds (ETFs): VanEck Bitcoin ETH (HODL) and VanEck Ethereum ETF (ETHV).The outcome of the United States presidential election on November 5 could influence the approval of several proposed crypto ETFs awaiting regulatory clearance. In 2024, asset managers submitted numerous filings to list ETFs holding altcoins, including Solana (SOL), XRP (XRP), and Litecoin (LTC). Additionally, issuers are seeking approval for various planned crypto index ETFs designed to hold diverse baskets of tokens.

According to Odaily, the cryptocurrency Solana (SOL) has experienced a notable price movement, surpassing the 165 USDT mark. As of the latest update, SOL is trading at 165.03 USDT, reflecting a 24-hour increase of 0.84%. This development highlights the ongoing fluctuations in the cryptocurrency market, where digital assets frequently experience rapid changes in value. The recent price movement of Solana is part of a broader trend observed in the cryptocurrency sector, where various factors, including market sentiment and external economic conditions, can influence asset prices. Investors and traders closely monitor these shifts to make informed decisions. Solana's performance is particularly noteworthy given its position as one of the leading cryptocurrencies by market capitalization, often drawing significant attention from both institutional and retail investors. As the market continues to evolve, stakeholders remain vigilant, analyzing trends and potential impacts on their investment strategies. The current price level of Solana may prompt further interest and activity in the market, as participants assess the implications of this price change on their portfolios. The cryptocurrency landscape remains dynamic, with Solana's recent performance serving as a reminder of the volatility and opportunities inherent in digital asset trading.

According to Odaily, data from SolanaFloor indicates that Jito and Solana have surpassed Ethereum in 24-hour protocol fee revenue for the third consecutive day. Over the past week, Jito has also led in protocol fee revenue. In the last 24 hours, Jito generated $2.79 million in fee revenue, while Solana earned $2.45 million. In comparison, Ethereum's fee revenue stood at $2.27 million. This trend highlights the growing competitiveness of Jito and Solana in the blockchain ecosystem, as they continue to outperform Ethereum in terms of fee generation. The consistent performance of Jito and Solana in surpassing Ethereum's fee revenue underscores their increasing prominence in the market. As these platforms continue to attract more users and transactions, their ability to generate higher fee revenues could signal a shift in the dynamics of the blockchain industry. This development is noteworthy for stakeholders and observers monitoring the evolving landscape of blockchain technology.

According to Odaily, data disclosed by SolanaFloor on platform X reveals that over $600 million worth of tokens were bridged to Solana in October. Notably, more than 90% of these tokens originated from Ethereum. This significant movement of assets highlights the growing interoperability and appeal of the Solana blockchain within the cryptocurrency ecosystem. The influx of tokens from Ethereum underscores the increasing trend of users and developers seeking alternative blockchain solutions for their projects and transactions. As Solana continues to gain traction, the blockchain's ability to attract substantial assets from other networks could play a crucial role in its future growth and adoption.

According to BlockBeats, data from DeFiLlama on November 3 indicates that Solana's decentralized exchanges (DEX) have achieved a daily trading volume of $1.579 billion, maintaining the top position since October 11. In comparison, Ethereum's DEX daily trading volume stands at $742.57 million, securing the second place.

According to Odaily, a Solana (SOL) whale has sold 90,000 SOL for $14.87 million USDC over the past 15 hours at an average price of $165. The whale had unstaked 143,700 SOL a day earlier, selling 60,000 SOL on-chain for $9.929 million USDC and 30,000 SOL through Wintermute OTC for $4.94 million USDC, both at an average price of $165.

According to CoinDesk, a rally in cryptocurrencies was quickly halted in the late morning hours in the U.S. as traders possibly continued to take profits following a significant rise over the past few weeks. Bitcoin surged to as high as $71,400 before pulling back to the $69,000 level, marking a nearly 1.3% decline over the past 24 hours. Ether decreased by 0.3%, and Solana fell by approximately 2%. The broader CoinDesk 20 index was down 0.6%, with Cardano and Litecoin showing modest gains. Earlier on Friday, the government reported a notable slowdown in the U.S. employment market, with only 12,000 jobs created in October, the weakest job growth since late 2020. This figure might be revised in November or adjusted higher as the Bureau of Labor Statistics assesses the impact of flooding in the Southeast on the data. Additionally, the ISM reported a 16-month low for its Manufacturing PMI survey, with the gauge dropping to 46.5 compared to the 47.6 expected by economists. Despite the reported weakness, the bond market showed skepticism, with the 10-year U.S. Treasury yield rising six basis points to 4.38%, its highest level in four months. U.S. stocks, although off earlier highs, remained stronger on the session, with the Nasdaq up 0.7% at close and the S&P 500 up 0.4%. Leading the gains was Amazon, which rose 6.1% after reporting strong quarterly results on Thursday evening. While the price action in cryptocurrencies has been disappointing to close the week, the sector has experienced a strong month. Bitcoin, for example, remains up nearly 15% over the past 30 days. CoinDesk analyst James Van Straten highlighted the renewed interest in U.S.-based spot bitcoin ETFs. Although these products only launched on January 11 of this year, large net inflows into them have often marked local tops in prices.

Canary Capital Group has filed for a spot Solana (SOL) ETF with the U.S. Securities and Exchange Commission (SEC). Following VanEck’s lead in pursuing similar offerings, this filing adds momentum to the push for a Solana ETF, despite ongoing regulatory uncertainty around crypto classifications.The SEC has yet to clarify whether Solana qualifies as a security, a designation that would impact ETF approval. Under SEC Chair Gary Gensler’s stringent stance, the agency has been cautious in its approach to crypto assets. However, some SEC commissioners argue that investors should have the autonomy to assess such products on their merits. In particular, SEC Commissioner Hester Peirce, known for her crypto-friendly stance, advocates for nuanced regulations, pointing out the need to apply precedents thoughtfully to new technologies.Market observers believe that the upcoming U.S. election could play a pivotal role in shaping the regulatory outlook. With potential changes in SEC leadership, the agency's position on digital assets may evolve, potentially creating an environment more favorable to the approval of products like a Solana ETF. This shift could mirror the path taken by Bitcoin ETFs, which transitioned from unlikely to approved offerings in recent years.As regulatory language around “crypto asset securities” shows signs of adaptability, the outlook for a Solana ETF remains uncertain but hopeful, with the potential for regulatory shifts in the near future.

According to Odaily, a report by Messari indicates a resurgence in institutional investment in Solana's native blockchain applications during the third quarter of 2024. A total of 29 decentralized applications (DApps) based on Solana raised $173 million, marking an increase of over 54% compared to the previous quarter. Despite a 37% decrease in the number of funding rounds, this represents the highest amount of investment on the Solana chain since the second quarter of 2022. Additionally, asset management giant Franklin Templeton plans to launch a money market fund on Solana.

According to BlockBeats, data from Defillama reveals that Solana's on-chain decentralized exchange (DEX) trading volume reached $52.157 billion in October. This figure surpasses the trading volume of Ethereum's DEX, which stood at $41.499 billion during the same period.

According to U.Today, Solana (SOL), the fifth largest cryptocurrency by market capitalization, has recently completed a golden cross, a bullish technical pattern that typically signals potential upward momentum. A golden cross occurs when a short-term moving average, such as the 50-day SMA, crosses above a long-term moving average, mostly the 200-day SMA, indicating that the asset's price may rise significantly soon. In the case of Solana, its daily SMA 50 has crossed above the daily SMA 200, indicating a golden cross. However, the emergence of the golden cross coincides with profit-taking in Solana's price. After four days of gains, Solana reached a high of $183 on Oct. 29, where it encountered resistance. At the time of writing, SOL was down 2.28% in the last 24 hours to $174, reflecting the broader profit-taking in the crypto market. BTC rose beyond $73,000 on Tuesday, bringing its seven-day gains to 9% and sparking a market rise across major cryptocurrencies, including Solana. A number of cryptocurrencies, including Solana, were trading in the red as Bitcoin's price fell slightly due to profit-taking. Solana's last golden cross in October 2023 pushed the SOL price up by almost 895%, reaching highs of $209 in March. Given that past results may not guarantee future outcomes, it is uncertain if this history might repeat itself for Solana. However, a common criticism of moving average-based indicators is that they are lagging signals that might trap traders on the wrong side of the market. This is because the market might have been oversold or overbought before the crossover occurs. As it stands, Solana is trying to rally toward the overhead barrier at $210, but the bears are posing a strong challenge at $183. If buyers do not give up much ground from their current position, the chances of a break over $183 grow. Solana prices could rise to $193, where the bears are anticipated to launch a robust defense. This optimistic outlook will be undermined in the short term if the SOL price falls below $159. It might push Solana below the 50-day SMA around $149, indicating that bulls are selling.

According to Decrypt, a new digital asset manager, Canary Capital, has filed to launch a spot Solana exchange-traded fund (ETF), joining other hopefuls such as VanEck and 21Shares. The filing was made to the Securities and Exchange Commission (SEC) on Wednesday. An ETF is a popular investment vehicle that trades on stock exchanges, allowing investors to buy shares that track the price of SOL, thereby gaining exposure to the coin without having to purchase and store cryptocurrency. SOL, the fifth-largest digital asset, is used for decentralized applications (dapps), decentralized finance (DeFi), meme coins, and more. It is considered a key rival to Ethereum, offering cheaper and faster transactions. The coin currently has a market cap of $82 billion and has seen a 400% increase in value over the past year, with a current price of about $175. Canary Capital, based in Nashville, Tennessee, launched in September and aims to provide institutions with crypto trading and management solutions. In January, the SEC approved Bitcoin ETFs, which started trading the same month, while Ethereum ETFs were approved in May and began trading in July. However, the regulator has been cautious, following 10 years of attempts to gain approvals for Bitcoin funds, and frequently hits crypto companies with lawsuits over allegations of selling unregistered securities. The SEC has specifically alleged that it considers SOL to be an unregistered security. Analysts believe that Solana ETFs will eventually be approved in the United States, following the recent approvals of Bitcoin and Ethereum funds. However, the speed of such a move could depend on the outcome of next week's U.S. elections and the tenure of Gary Gensler as Chairman of the SEC. VanEck and 21Shares filed their respective applications to launch a spot Solana ETF back in June. Both firms also offer Bitcoin and Ethereum ETFs in the United States.

According to Blockworks, the current state of the cryptocurrency market shows Bitcoin (BTC) nearing its previous price record from March. As BTC approaches this milestone, questions arise about the potential end of the bull run. Historically, BTC's price movements have often been followed by other major cryptocurrencies like Ethereum (ETH) and Solana (SOL), though not always in sync. ETH has historically lagged behind BTC in setting new price records. For instance, during the 2017-2018 bull run, ETH reached its all-time high 27 days after BTC peaked at nearly $20,000. BTC surpassed its previous high in early December 2020, while ETH remained 60% below its record. However, ETH eventually more than doubled in value over the next 56 days, achieving a new all-time high by the end of January 2021. This time, the scenario appears different. It has been 238 days since BTC broke its previous high from November 2021, yet ETH remains 45% below its peak. Similarly, SOL has shown a comparable performance to ETH during this period, currently standing 31% below its November 2021 record high. Both ETH and SOL have exhibited tight correlation since BTC's peak in March. The question of whether ETH and SOL will catch up if BTC confirms a bull run remains speculative. Historically, major assets like BTC, ETH, and SOL have shown staggered recoveries between cycle tops. However, they tend to align closely when reaching new peaks. For instance, BTC and ETH hit their all-time highs on the same day nearly a year after their drawdown recoveries, while SOL peaked a few days earlier. The analysis suggests that the end of a bull run can often be identified when major cryptocurrencies converge at their all-time highs. This pattern has been observed in previous four-year cycles, where BTC and ETH were not in lockstep during their recoveries but aligned closely at their peaks. The current market dynamics indicate that BTC, ETH, and SOL may be out of sync, which could be a bullish sign based on historical trends.

According to BlockBeats, data from Solscan on October 30 reveals the number of on-chain stakers for various Solana tokens. The BGSOL token has 7,193 stakers, BNSOL has 6,890 stakers, and BBSOL has 4,608 stakers.

According to U.Today: Solana (SOL) has overtaken PayPal in valuation following a 5.51% increase in its price over the past week, reaching $175.3. This rise propelled Solana’s market capitalization to approximately $83.56 billion, slightly surpassing PayPal, which sits at $83.52 billion, as per Yahoo Finance. This development highlights the growth of Solana, figuratively positioning it as more valuable than PayPal, the largest electronic debit payment system founded in 1998 with contributions from Elon Musk.Market Capitalization Differences Between Solana and PayPalWhile this milestone is notable, it is essential to distinguish between the market capitalizations of Solana and PayPal. The market cap for Solana, a digital asset, is driven by network activity, token utility, and market sentiment, while PayPal’s valuation reflects projected future revenue and tangible assets. Despite these fundamental differences, Solana's rapid ascent underscores its strong presence in the cryptocurrency market.SOL's Meteoric Rise in the Past YearSince its rise began in October last year, Solana has experienced substantial growth, increasing by 847.26% over 147 days after fluctuating within a range of $17.89 to $30.36. This latest achievement solidifies Solana’s role in the digital asset space as it continues to draw attention from investors and institutions alike.

According to Odaily, Solana has surpassed all other blockchains in weekly decentralized exchange (DEX) trading volume for three consecutive weeks. Over the past seven days, Solana's trading volume reached $15.736 billion, significantly outpacing Ethereum, which ranked second with a trading volume of $8.833 billion during the same period.