The total price locked (TVL) within the Solana blockchain ecosystem has exceeded $6 billion, using a 4.94% raise within the worth of SOL, the network’s native token, throughout the final 24 hours. The digital asset’s trading quantity has also risen by 24.05% to $4.13 billion.
Knowledge from DefiLlama displays that the Solana TVL is currently at $6.54 billion, with a stablecoin market cap of $3.67 billion. The network has 5.34 million each day active users and processed 41.08 million transactions within the past 24 hours.
🚀 Solana This Week: Hello $6 Billion TVL, 6M On daily foundation Entertaining Addresses.
Solana TVL crosses $6B!
83% of SOL now staked!
FTX unstakes $28M worth!Let’s unpack this week in Solana 🧵
1/6 pic.twitter.com/XrZ93rN1Su
— CoinMarketCap (@CoinMarketCap) October 24, 2024
The Solana TVL is at its perfect level since 2022, having previously surpassed $10 billion throughout the 2021 bull flee. SOL holders are more and more optimistic, with roughly 83% of circulating SOL now staked, alongside side 10 million SOL (worth over $2 billion) staked within the past month.
Factors Contributing to Solana’s Utter
Solana has also benefited from Stripe enabling USDC funds on the blockchain and increased NFT teach. Solana is currently on par with Polygon in NFT teach and leads chain royalties at $405.8K.
Alternatively, the bankrupt crypto replace FTX lately unstaked 178,631 SOL. No topic this, SOL is trading at $173.54, up 5% within the past 24 hours and 14% within the final seven days.
Over the final 30 days, Solana has won 18.58%, outperforming many main altcoins. The digital asset has surged 461.52% since October 2023, reaching a market cap of $81.58 billion.
Read also: Solana (SOL) Model Prediction: Cup & Tackle Sample Aspects to Massive Surge
The Solana Relative Energy Index (RSI) is at 70.76, indicating that the altcoin is currently overbought. This would possibly per chance per chance possible be a correct opportunity to rob profits and buy attend in if the worth drops.
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