Why $SOL Is Dominating the 2024 Bull Run

Solana has been a standout performer so far, and if the past is a predictor of the future, then SOL is poised to dominate the 2024 bull run. Here are some reasons why this could be the case:

- Technical Strength: The Solana price chart has shown strong bullish indicators, even during the August 5 and September 6 market crashes. Currently, the SOL price action is forming a bullish pennant, which could propel the asset well over 100% if it breaks out

- Network Growth: The Solana network has registered one of the most exponential growths in the space aside from Sui, Tron, and Ton blockchains. This was mainly because of the meme coin season on the network, facilitated by low transaction fees and fast network speed.

- Efficiency in the

Strategic Partnerships and Innovative Ecosystem: Solana has formed strategic partnerships and collaborations that enhance its visibility and adoption. The most recent is Solana Pay, an open, free-to-use payment framework on the Solana network.

Solana TVL has grown by 3.58% year-to-date (YTD), while Ethereum’s TVL has increased by 0.9% in the same duration. The growth in TVL corresponds to price, as SOL price also rose by 43% while $ETH price increased by 12% YTD

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