Solana (SOL) Capitalizes on Utility Support and ETF Registration
Over the past month, Solana’s price growth has been astronomical, reaching an all-time high on November 23. SOL is currently trading 25% higher than its price on November 7, with a consolidation between $220 and $250 over the past week. Solana has seen a 400% increase in transactions thanks to the accessibility integration of Phantom and Transak.
In other news, Solana’s liquid staking market recently surpassed $8 billion, led by JitoSOL with a 41.5% market share and growing interest. This comes after Grayscale announced its registration for a SOL ETF. Additionally, the popularity of meme coins has seen Solana-based dApps record revenue from on-chain activity, with Raydium achieving a record $11 million in 24-hour fees.
With 15 consecutive bullish days over the past week, SOL is trading above its moving averages. Solana price predictions on CoinCodex project that SOL will reach a new peak before the end of the year. Solana has maintained a parabolic upward trend, generating bullish sentiment, with 86% of the SOL community supporting the token’s trajectory.#TopCoinsSeptember2024 #BtcNewHolder
