Ethereum

Solana

Injective

Bitcoin

Polkadot

<p>Solana (SOL) was a hot topic this weekend by exceeding<a href="https://www.coingecko.com/en/exchanges/binance" target="_blank" rel="noopener noreferrer nofollow"> the trading volumes</a> of both Bitcoin (BTC) and Ethereum (ETH) on cryptocurrency exchange Binance. On Saturday, the SOL/USDT spot trading pair saw $1.037 billion in volume, surpassing BTC and ETH’s figures.</p>
<p>Additionally, SOL futures hit $4.7 billion in volume, setting a new record for the highest daily volume of any asset on Binance.</p>
<p>This surge in interest propelled the price of SOL over 25% higher to above $115, while BTC and ETH barely budged. SOL’s 24-hour trading volume is still leading the market, with $1.1 billion exchanged between SOL/USDT, compared to lower volumes for BTC and ETH.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="485" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-673-1024x485.png" alt="" class="wp-image-406146" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-673-1024x485.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-673-300x142.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-673-768x364.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-673-1536x728.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-673-2048x971.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-673-316x150.png 316w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-673-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-673-738x350.png 738w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-673-788x373.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-673.png 1603w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="the-implications-of-sol-s-volume-dominance">The Implications of SOL’s Volume Dominance</h2>
<p>The explosive trading volume for SOL signals a few key trends. First, it shows the rising popularity of Solana relative to the longtime market leaders. As an innovative blockchain promising high speeds and low costs, Solana is gaining momentum with traders and DeFi users.</p>
<p>Second, surging volume can often foreshadow a rally as more money flows into an asset. If interest in SOL continues growing, its price could see further upside ahead. Additionally, high trading activity suggests Solana is seeing substantial real-world usage and transactions, not just speculative trading.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Don’t Sleep on this Explosive Crypto Airdrop!&nbsp; <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>Install the <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Getgrass" href="https://captainaltcoin.com/go/getgrass/" data-shortcode="true"><strong>GetGrass extension</strong></a> ASAP – the more points you score, the bigger your free crypto payoff! This red-hot airdrop could set you up for the future, but only if you <strong><a href="https://captainaltcoin.com/go/getgrass/" target="_blank" rel="noopener noreferrer nofollow">take action</a></strong> right now!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>Finally, this shows the ongoing rotation in the crypto market from Bitcoin and Ethereum into what many see as the next generation of blockchains. SOL now ranks as the 5th largest cryptocurrency by market capitalization. With developers and users increasingly utilizing Solana for everything from NFTs to decentralized apps, its blockchain activity is reflecting strongly in on-chain metrics.</p>
<p>In the past 24 hours, SOL has gained roughly 2% to trade around $112, while BTC and ETH have dropped 0.5%. With strong momentum as traders pile into SOL, its outlook remains bullish against the more stagnant prices of the longstanding market leaders. This weekend’s record performance underscores Solana’s growing superiority and advantages over legacy chains. As adoption continues accelerating, analysts predict SOL will keep setting itself apart from the rest of the crypto pack.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/red-hot-avalanche-avax-surges-again-despite-these-overbought-warnings/" target="_blank" rel="noopener noreferrer nofollow">Red-Hot Avalanche (AVAX) Surges Again Despite These Overbought Warnings</a></li>
 <li><a href="https://captainaltcoin.com/why-is-polkadot-dot-price-up/" target="_blank" rel="noopener noreferrer nofollow">Why is Polkadot (DOT) Price Up?</a></li>
 <li><a href="https://captainaltcoin.com/next-crypto-success-experts-highlight-a-promising-coin-following-injective-and-bonks-performance/" target="_blank" rel="noopener noreferrer nofollow">Next Crypto Success: Experts Highlight a Promising Coin Following Injective and Bonk’s Performance</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/solana-outpaces-ethereum-and-bitcoin-in-this-trading-indicator/" rel="noopener noreferrer nofollow">Solana Outpaces Ethereum and Bitcoin in This Trading Indicator</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana Outpaces Ethereum and Bitcoin in This Trading Indicator

Table of Contents

CaptainAltcoin

Other articles published on Dec 25, 2023

Did Vitalik Buterin Predict Solana (SOL) Rally? Cryptic Tweet Breakthrough

When Could Bitcoin Price Reach $500,000? Current Forecast!

Coinbase and crypto heavyweights make record-breaking political donations – What you need to know

Shiba Inu News: Shiba Inu Burn Rate Soars 5000% As Whale Reshuffles 4 Tln SHIB, What’s Happening?

Crypto: Do Not Underestimate These Two Risks Associated with Bitcoin ETFs

Solana hits records for monthly new and active addresses

Join our free newsletter for daily crypto updates!