Ethereum

Solana

Bitcoin

Read

<div class="cryptonews">
 <div class="cn-block-disclaimer">
  <div class="cn-block-disclaimer__icon">
   <svg class="icon icon-info" aria-hidden="true"><use xlink:href="#"></use>
   </svg>
  </div>
  <p class="cn-block-disclaimer__content">Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>
 </div>
 <p class="is-style-lead">Solana’s native SOL token has seen an 8% jump from yesterday’s low, taking price back above the $70 level. This comes amid <a rel="noopener noreferrer nofollow" title="rising" href="https://thebittimes.com/tag/rising.html">rising</a> <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a> <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> and transactions on the blockchain, helping push Solana’s market cap back above $30.5 billion. Meanwhile, the new altcoin Bitcoin Minetrix (BTCMTX) continues to gain ground in its viral <a rel="noopener noreferrer nofollow" title="presale" href="https://thebittimes.com/tag/presale.html">presale</a> phase, with many experts speculating it could pump after listing on mainstream exchanges.</p>
 <h2 class="wp-block-heading" id="strong-solana-rebounds-as-metrics-point-to-renewed-interest-strong"><strong>Solana rebounds as metrics point to renewed interest</strong></h2>
 <p>After a rocky 24 hours, Solana appears to be swiftly rebounding.</p>
 <p>SOL is up to $72.10, propelling Solana to the number six spot by market capitalization.</p>
 <p>This recovery has been fueled by a marked increase in trading volumes.</p>
 <p>Over $2.8 billion worth of SOL was traded globally in the past day alone – a sizable jump from Dec. 10.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/lllmdynFpZ86aXguMXQS3GQL28lglylVXWkQuFODkjbU_RJF-z-ociNLcxUJb-fdIDRVW3H1PS7qq_LLrMGlrAt2Rv2aQTWhT-YD1rzwIkT5NwMu-V3IP0rGphv0XhsZjsZkygK-WbY-MQ3E3MyJ3nY" alt="Solana rising as network activity spikes, BTCMTX presale gains momentum - 1">
 </figure>
 <p>Additionally, Solana’s volume-to-market cap ratio has surged to 9.40%, pointing to increasing investor interest.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Solana’s BONK gains 30%, flips PEPE as third-largest meme coin
 </div>
 <p>From a technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> perspective, Solana had posted a long wick down to $67 on Dec. 10, with many experts believing that this was simply a “flushing out” of leveraged long positions.</p>
 <p>SOL tapped this area twice on Dec. 11 before <a rel="noopener noreferrer nofollow" title="rising" href="https://thebittimes.com/tag/rising.html">rising</a>, suggesting that the $67 level now acts as a support zone.</p>
 <p>Looking ahead, the next upside target for SOL bulls will likely be $77.80.</p>
 <h2 class="wp-block-heading" id="strong-rising-on-chain-activity-explains-solana-s-resurgence-strong"><strong>Rising on-chain activity explains Solana’s resurgence</strong></h2>
 <p>Despite its price troubles, there is a notable spike in Solana’s on-chain activity.</p>
 <p>The total value locked (TVL) in Solana decentralized finance (defi) protocols has jumped to $929 million, the highest level in over a year.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Jito’s $165m airdrop rains on Solana
 </div>
 <p>This renewed interest is also evidenced in Solana’s decentralized exchange (DEX) trading volumes.</p>
 <p>Over the past seven days, volume across all Solana DEXs has surged by nearly 143% – outpacing gains seen on competing chains like Ethereum (ETH).</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/qoZ0_bzHdw4EaiO0Z3-b1nN4bU2rmGpD1KrFdAUFgbuwA4QvPkqvz_covZxxGNYcDoDCkICxup9HlUdNAVfx62R0sK5NhiS9gNJ6x2jo6vr7qmpK6t7hpxAPeyG0y8BUIXPyEGRfvXng_q04PDRgN5w" alt="Solana rising as network activity spikes, BTCMTX presale gains momentum - 2">
 </figure>
 <p>Experts believe that rising NFT demand has also fueled higher activity on Solana.</p>
 <p>In the last week, Solana’s NFT sales volume has rocketed 52%, with over 26,500 buyers.&nbsp;&nbsp;</p>
 <h2 class="wp-block-heading" id="strong-bitcoin-minetrix-presale-draws-investor-attention-strong"><strong>Bitcoin Minetrix presale draws investor attention</strong></h2>
 <p>As Solana shows signs of recovery, analysts are also looking at Bitcoin Minetrix.</p>
 <p>The project employs a “stake-to-mine” model that allows holders to passively earn Bitcoin (BTC) when they stake the platform’s tokens, BTCMTX.</p>
 <p>Unlike traditional mining, which demands technical skills and high investment, Bitcoin Minetrix aims to democratize the process so anyone can participate.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/Sf4ZVU5htYcRtTDw74t6AJRHjuUR3HASQMx5AEDVTrLwrrWWUlplX3M-10J8hHzSIpixgNlwm2XWOYaSjADlNsECBpWuDjhm9j4oZ2knQeJZUnN2G4BJUUoIiY1julvWJXlzGqJkPxGCXL7YhRyVtoY" alt="Solana rising as network activity spikes, BTCMTX presale gains momentum - 3">
 </figure>
 <p>By staking BTCMTX, users receive mining credits to redeem for either cloud mining time or a share of the eventual yields.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Bitcoin Minetrix, a stake-to-mine project, raises over $4m in presale
 </div>
 <p>This model aims to provide ordinary crypto investors with BTC rewards.</p>
 <p>Bitcoin Minetrix has already attracted over $5.2 million in presale investment across multiple stages, meaning the project is over a third of the way to its soft cap goal.</p>
 <p>Presale demand has also helped Bitcoin Minetrix reach 9,100 followers on X.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/aRIVtY1Pcv3Vuez1DQiAIkm8SxxwjHU0MveKnXrpfnfFrs5kjk_KyEJW-mqL-UZmhINj_dyXKCnuYwg97d-mmF9uHWWi-_Tu87dAHoDwgjoGExn1ZjDOW1ylnvp6g1YXXhqE98Mlpimm3RbVLMpBUX8" alt="Solana rising as network activity spikes, BTCMTX presale gains momentum - 4">
 </figure>
 <p>The project has also attracted crypto influencers, such as No Bs Crypto, who speculates that BTCMTX could rally once listed on exchanges.</p>
 <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
  <div class="wp-block-embed__wrapper">
   <div class="rll-youtube-player" data-src="https://thebittimes.com/image/getimage/?url=https://www.youtube.com/embed/XHaA9z4RwEY" data-id="XHaA9z4RwEY" data-query="feature=oembed" data-alt="Could &quot;Bitcoin Minetrix&quot; Be A 100X Meme Coin?"></div>
   <noscript><iframe title="Could &quot;Bitcoin Minetrix&quot; Be A 100X Meme Coin?" width="1020" height="574" src="https://thebittimes.com/image/getimage/?url=https://www.youtube.com/embed/XHaA9z4RwEY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
   </noscript>
  </div>
 </figure>
 <p>While predictions like those from No Bs Crypto are speculative, they showcase the growing belief in Bitcoin Minetrix from experienced names in the industry.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> BTC rallying, Bitcoin clones could surge in 2024
 </div>
 <div class="cn-block-disclaimer">
  <div class="cn-block-disclaimer__icon">
   <svg class="icon icon-info" aria-hidden="true"><use xlink:href="#"></use>
   </svg>
  </div>
  <p class="cn-block-disclaimer__content">Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.</p>
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-rising-as-network-activity-spikes-btcmtx-presale-gains-momentum-tbt73457.html">https://thebittimes.com/solana-rising-as-network-activity-spikes-btcmtx-presale-gains-momentum-tbt73457.html</a></p>

Solana rising as network activity spikes, BTCMTX presale gains momentum

Table of Contents

TheBitTimes

Other articles published on Dec 12, 2023

Epic Games emerges triumphant in antitrust battle against Google

Chromia Migrates My Neighbor Alice to Shared Appnet For Season 4 Launch

Circle bets on Latin America as stablecoin adoption surges

Binance Ends Ruble Support on P2P as It Exits Russia!

Sharia-compliant CoinMENA gets Dubai’s broker-dealer license

Analyzing if BONK buyers should expect good news from its price prediction

Join our free newsletter for daily crypto updates!