Ethereum

Solana

Bitcoin

Rise

<ul> 
 <li>Despite a major network outage, Solana (SOL) surged by 6.56% in the last 24 hours, trading at $101.</li> 
 <li>Solana’s DEX ranked second after Ethereum, with a TVL of $1.74B and $6.25M in trading volume.</li> 
</ul> 
Solana (SOL) bounces back with resilience following a temporary network outage on February 6th, reassuring investors as the cryptocurrency gains 6.56% in the past 24 hours, trading at $101 with a market cap of $44.3 billion. Additionally, the daily trading volume for SOL surged over 17% to reach $1.95 billion. 
Despite concerns sparked by the <a href="https://thenewscrypto.com/solana-network-restored-after-five-hour-outage-post-validator-restart/" target="_blank" rel="noreferrer noopener">outage</a>, which lasted around 5 hours, SOL traders remain undeterred, driving the altcoin’s price above $102, outperforming Bitcoin for the week. Will Solana maintain its current trend? 
<h2 class="wp-block-heading" id="h-solana-sol-is-on-the-rise">Solana (SOL) is on the Rise</h2> 
In recent months, Solana has experienced significant growth, attracting $13.4 million in inflows into SOL investment products, <a href="https://thenewscrypto.com/solana-sol-positioned-for-significant-surge-above-115-analyst/" target="_blank" rel="noreferrer noopener">surpassing</a> Ethereum and Avalanche. Last week also saw a notable influx of $707.8 million into crypto products, elevating the global assets under management to $53 billion. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img loading="lazy" decoding="async" width="1024" height="386" src="https://thenewscrypto.com/wp-content/uploads/2024/02/image-25-1024x386.png" alt="" class="wp-image-91157" srcset="https://thenewscrypto.com/wp-content/uploads/2024/02/image-25-1024x386.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-25-300x113.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-25-768x290.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-25.png 1264w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Solana (SOL) TVL (Source: <a href="https://defillama.com/chain/Solana?volume=true" target="_blank" rel="noreferrer noopener nofollow">DefiLlama</a>)
 </figcaption>
 </figure>
</div> 
Further, Solana’s decentralized exchange volume maintains its prominence, ranking second to Ethereum with $7.31.53 million in volume and a Total Value Lock (TVL) of $1.74 billion as of February 8th, according to data from DefiLlama. 
Looking ahead, if the current <a href="https://thenewscrypto.com/solana-sol-price-prediction/" target="_blank" rel="noreferrer noopener">upward trend</a> persists, SOL could encounter resistance at $121.14, potentially triggering a rally toward $155.36 and even $187.76. Conversely, a reversal in the trend could see SOL testing support levels at $81.14 and potentially declining further towards $47.79. 
Moreover, the global cryptocurrency market reflects positivity, with the total market cap climbing 3.42% to $1.7 trillion.

Solana (SOL) Surges to $102, Outperforming BTC Despite Outage

Table of Contents

TheNewsCrypto

Other articles published on Feb 8, 2024

Kinetex integrates 1inch to boost liquidity in cross-chain swaps

Presale Kelexo (KLXO) gets whale investor from XMR & ADA holder as 30x expected in 2024

Solana Charts Point to Strong Bullish Turnaround; AI Altcoin Captures Market Focus

'Rich Dad Poor Dad' Author Kiyosaki Sounds Alarm Amid Bank Failures, Advocates Bitcoin as Parachute

Ripple Lawyer Stuart Alderoty exposes SEC and Yellen’s crypto regulatory clash

Pushd (PUSHD) modernizing e-commerce – ETH & BTC buy-up presale as 25K users sign up!

Join our free newsletter for daily crypto updates!