Ethereum (ETH) competitor Solana (SOL) is sustaining its upward momentum as it overtakes layer-2 scaling solution Polygon (MATIC) in daily decentralized exchange (DEX) volume.
New data from blockchain tracking platform Artemis reveals that the smart contract platform has surpassed MATIC in both overall DEX volume and the number of daily transactions.
Artemis’ data shows that as of yesterday, Solana had a DEX volume of about $240.5 million, outpacing Polygon’s $137.5 million.
The numbers also show that Solana greatly surpassed Polygon – and other digital assets such as ETH and Avalanche (AVAX) – in terms of daily transactions. Solana has seen millions more daily transactions compared to its competitors, logging 19.5 million on November 2nd compared to ETH’s 1.05 million, MATIC’s 2.59 million, and AVAX’s 192,000.
Another chart that displays Solana’s recent upward momentum is that of market cap. Since the start of October, SOL has been outpacing its competitors in terms of market cap, setting itself apart even further in November.
Solana’s growth has also been reflected in its price, as the smart contract platform has seen about a 300% increase in price since January 1, 2023, when it was trading for just $9.97. Solana is moving for $39.36 at time of writing, a fractional decrease during the last 24 hours.
Recently, two prominent crypto strategists commented on the rise of Solana First, macro guru Raoul Paul said that Solana resembled a “rocket ship” after the release of Firedance, a new validator client for the SOL blockchain that improved its scalability and speed.
Days later, pseudonymous crypto trader Pentoshi predicted that the ETH rival would retrace toward the $32 range – only to set up another move to the upside.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#SolanaPredictions #PolygonTrends $SOL $MATIC

Solana (SOL) is currently one of the best-performing cryptos. The popular altcoin has surged by over 260% since the beginning of this year. SOL has even outperformed Bitcoin (BTC), which has risen by about 107% in the same time frame.According to CoinShare’s latest fund flow report, Solana (SOL) witnessed the highest inflow of funds among the altcoins. The project saw inflows of $23.9 million over the previous week. Ethereum (ETH), on the other hand, saw outflows of $6 million in the same time frame. Furthermore, other alts like XRP and Litecoin (LTC) saw minor inflows of $0.2 million and $0.5 million respectively.As per CoinShare’s report, BTC was responsible for 90% of all fund inflows, with $296.3 million flowing into the project. Nonetheless, $15.4 million went into short Bitcoin (BTC) products.The inflow of funds into SOL is visible in the token’s performance over the previous week. SOL is up by over 16% in the weekly charts and 11.7% in the last 24 hours.Why are investors bullish on Solana (SOL)?SOL’s performance is especially commendable, given that it was one of the worst-affected projects after the collapse of FTX. FTX founder Sam Bankman-Fried (SBF) was heavily bullish on SOL and bought a lot of tokens. However, when FTX collapsed, it led to a plunge in SOL’s price. Moreover, several projects exited the Solana (SOL) ecosystem, jumping ship to rival chains. However, the asset has shown incredible performance since then.The continuous inflow of funds into SOL shows investors are bullish on the project. The inflows also show that investors aren’t bothered by a possible liquidation from FTX. A court has permitted the now-defunct exchange to liquidate its SOL holdings. The sale could have a detrimental effect on the asset’s price. However, investors seem to be ready to take on the incoming dump.#SolanaPredictions #dyor

The current sentiment around Solana (SOL) is quite bullish, with recent price movements showing a significant uptick. As of the latest updates:

The price of Solana has surged over 5% to trade at $203.221.
Experts are predicting a potential rally of 70% as SOL defies a sell signal2.
Solana has recently flipped Binance Coin (BNB) to become the fourth-largest cryptocurrency by market capitalization, with a market cap of $89 billion3.
For March 2024, crypto experts expect the average SOL rate to be around $262.16. The minimum and maximum prices are projected to be $187.23 and $337.08, respectively.

Please note that cryptocurrency markets are highly volatile, and these predictions are based on current market trends and expert analysis. It’s always recommended to do your research and consider multiple sources before making investment decisions.
#SOL🔥🔥🔥🔥 #Solana🚀 #SOLmemecoins #SolanaPredictions #HotTrends

Solana's price initiated a downward correction from the $68.20 region against the US DollarSolana's price has been on a bullish streak in recent weeks, buoyed by notable endorsements, including Cathie Wood, underscoring Solana's capabilities.Solana price is currently trading below both $56 and the 50-hour simple moving average.Solana's price decreased by 3% in the last 24 hours,following a market-wide downturn triggered by Binance's settlement with the US Department of Justice yesterday.Solana's SOL experienced notable volatility, reaching highs near $0.70 but subsequently dropping to approximately $55, partly influenced by the SEC's actions against Kraken.The sellers are gearing up for a guerrilla maneuver to seize control, capitalizing on the emergence of a bearish continuation pattern in the Solana price chart.
Technical Views:
According to Coingabbar Price Analysis, The weekly chart of Solana is currently in the process of generating a TD Sequential sell signal.The SOL price trend indicates a potential bearish reversal signaled by an inverted head and shoulders pattern.Following a panic sell-off, the bulls successfully maintained support at the trendline and a key psychological level around $50.If buyers can maintain momentum, the bullish rally may retest the $75 mark.On the flip side, a reversal below the psychological $50 mark, coupled with a breakout below the trendline, could lead to a decline in prices to the $44-$45 range.
KEY LEVELS :
RESISTANCE LEVEL : $56.00-$58.00
SUPPORT LEVEL : $53.00-$50.00
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
#DYOR。 #crypto2023A #Solana📈🚀🌐 #SolanaPredictions #etf $SOL

Solana has maintained its position within the altcoin market, exhibiting a notable influx of capital that surpassed that of all other cryptocurrencies save for Bitcoin over the previous week. Institutional investment products have had a consistent influx of capital for a duration of eight consecutive weeks, wherein certain cryptocurrencies have garnered a comparatively higher volume of incoming investments in comparison to others.
Based on the current CoinShares report about digital asset funds, a significant portion of the funds were allocated to Bitcoin goods. This trend may be attributed to the sustained appeal of Bitcoin among investors, which has been further bolstered by recent advancements within the cryptocurrency sector.
The Solana blockchain network is experiencing a significant increase in traction and support. Within the realm of institutional investors
Solana has had a remarkable surge in value over the current year, as evidenced by the substantial increase of over 465% in the value of its native SOL token since the commencement of the year. Simultaneously, investment vehicles associated with Solana have garnered significant attention from institutional investors, resulting in inflows over $135 million thus far in the current year.
Based on the findings of CoinShares, there was a cumulative influx of $176 million into digital asset investment funds over the previous week. A sum of $155 million was allocated to Bitcoin, constituting 3.4% of the overall assets under management for the past eight weeks. Consequently, the cumulative influx for the current year has amounted to $1.32 billion, but significantly lower than the figures recorded in 2021 and 2020, which stood at $10.7 billion and $6.6 billion, respectively.
The most recent data from CoinShares highlights a significant decline in weekly inflow into Ethereum goods, with a staggering decrease of 93.27% from $49.1 million to $3.3 million. In contrast, Solana had a notable growth of around 10%, rising from $12.4 million to $13.6 million.
Similarly, other alternative cryptocurrencies faced challenges in attracting significant capital inflows. Litecoin and XRP, for instance, saw inflows of only $0.4 million and $0.5 million, respectively. Uniswap and Polygon experienced modest capital outflows of $0.55 million and $0.86 million, respectively.
The majority of cryptocurrencies saw a short period of stabilization during the previous week; however, this trend did not extend to investment goods. According to the study published by Coinshares, the influx of funds into Bitcoin may be attributed to a prevailing optimistic mood, which is closely linked to the anticipated endorsement of a spot-based Bitcoin Exchange-Traded Fund (ETF) in the United States. The aforementioned observation is notably apparent, given that Short-Bitcoin outflows saw a further outflow totaling $8.5 million over the previous week.
In light of these many motivations and a substantial price spike of 101% observed in the previous month, Solana has exhibited development in other dimensions of its ecosystem that might potentially appeal to institutional investors. Firstly, it is noteworthy to mention that Solana has exhibited a really commendable performance in terms of Total Value Locked (TVL) throughout the recent months.
According to the data provided by DeFiLlama, the total value locked (TVL) on the network currently stands at $576.44 million, reflecting a notable surge of 77.62% over the previous month. The platform has also disclosed an increase in the trading volume of SOL on decentralized exchanges over the previous week.
As per the on-chain intelligence platform Messari, Solana has emerged as the key center for initiatives related to the Decentralized Physical Infrastructure Network (DePIN).
What constitutes the worth of a $SOL ?
Despite facing challenging market conditions, Solana has exhibited superior performance compared to prominent cryptocurrency assets. It has emerged as a central platform for decentralized public infrastructure network (DePIN) initiatives, while also making significant product announcements such as the introduction of Firedancer. The provided link (pic.twitter.com/7ouHN089Wd) leads to a
Messari, a prominent cryptocurrency company, sent a tweet on November 20, 2023.
The current trading price of Solana (SOL) is at $56.27, and investors are eagerly awaiting a significant breakthrough over the $60 mark.
#Solana📈🚀🌐 #SolanaPredictions #BinanceSquare