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Solana (SOL) has just reached a new high in 2024, hitting $248.44 on November 18, very close to the all-time high (ATH) of $260 in 2021. This is an important milestone marking Solana's strong return after the challenges of the previous year. Some key factors driving this increase include:
1. Growth in transaction volume across the ecosystem: Solana recorded a record decentralized exchange (DEX) trading volume of over $41 billion in a week, surpassing Ethereum's previous peak in 2021. Solana currently accounts for nearly 50% of total global DEX trading volume, far exceeding other networks like Ethereum, Arbitrum, and BNB Chain.
2. Support from major institutions: The re-support or increased listing of Solana by platforms like Robinhood and Coinbase has generated significant momentum for trading demand. Additionally, financial companies like VanEck and BlackRock are researching the implementation of Solana ETFs, opening up strong growth potential in the future.
3. Technological improvements: The Solana ecosystem continues to develop thanks to Liquid Staking protocols like Jito Labs and DeFi applications. Furthermore, network upgrade plans aimed at increasing transaction processing capacity also boost confidence in long-term potential.
4. Positive technical analysis: Some analysts predict that if Solana breaks the old ATH, the price could surge to $400 in the near future. Bullish patterns such as the “cup and handle” forming on the charts also reinforce this view.
However, the risk of price correction remains, especially as the market is in an overbought state (high RSI). This requires investors to closely monitor the fluctuations
1. Growth in transaction volume across the ecosystem: Solana recorded a record decentralized exchange (DEX) trading volume of over $41 billion in a week, surpassing Ethereum's previous peak in 2021. Solana currently accounts for nearly 50% of total global DEX trading volume, far exceeding other networks like Ethereum, Arbitrum, and BNB Chain.
2. Support from major institutions: The re-support or increased listing of Solana by platforms like Robinhood and Coinbase has generated significant momentum for trading demand. Additionally, financial companies like VanEck and BlackRock are researching the implementation of Solana ETFs, opening up strong growth potential in the future.
3. Technological improvements: The Solana ecosystem continues to develop thanks to Liquid Staking protocols like Jito Labs and DeFi applications. Furthermore, network upgrade plans aimed at increasing transaction processing capacity also boost confidence in long-term potential.
4. Positive technical analysis: Some analysts predict that if Solana breaks the old ATH, the price could surge to $400 in the near future. Bullish patterns such as the “cup and handle” forming on the charts also reinforce this view.
However, the risk of price correction remains, especially as the market is in an overbought state (high RSI). This requires investors to closely monitor the fluctuations
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#BounceBit
BounceBit: A Potential Cryptocurrency in the Digital Economy
BounceBit (BBT) is a cryptocurrency that is attracting attention in the blockchain community thanks to its high security features and fast transaction speeds. This currency is designed to support decentralized transactions, especially in the fields of e-commerce and cross-border payments. With advanced technology and an experienced development team, BounceBit promises to provide an effective, transparent, and secure financial solution. Currently, BBT has been listed on many major exchanges, opening up attractive investment opportunities for global investors.
BounceBit: A Potential Cryptocurrency in the Digital Economy
BounceBit (BBT) is a cryptocurrency that is attracting attention in the blockchain community thanks to its high security features and fast transaction speeds. This currency is designed to support decentralized transactions, especially in the fields of e-commerce and cross-border payments. With advanced technology and an experienced development team, BounceBit promises to provide an effective, transparent, and secure financial solution. Currently, BBT has been listed on many major exchanges, opening up attractive investment opportunities for global investors.