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Solana

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/institutional-investors-drive-solanas-growth" rel="noopener noreferrer nofollow">Institutional Investors Drive Solana’s Growth</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/solanas-market-struggles-amidst-ecosystem-fluctuations" rel="noopener noreferrer nofollow">Solana</a> (SOL) continues to capture the attention of institutional <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a>, experiencing significant gains over the past 48 hours. This recent uptick has led to optimistic predictions that SOL may soon embark on an upward trajectory. A shift in market sentiment might be the catalyst for this potential rise. Previously, Solana achieved an all-time high of $260 on November 6, 2021. Currently, SOL is priced 38% below its peak, at approximately $158.2, following recent price movements that saw it briefly surpass $164 before a correction.</p>
<h2 id="will-solana-maintain-its-momentum">Will Solana Maintain Its Momentum?</h2>
<p style="text-align: justify">SOL’s track record of outperforming the market during recovery phases has garnered attention. Institutional investments and increased on-chain activities have contributed to an upward momentum. In the past 24 hours, Solana’s market cap soared to $71.3 billion, following a 4% rise, positioning it just behind BNB.</p>
<p style="text-align: justify">Solana’s 24-hour daily trading volume surged by 31% to $3.9 billion, and its weekly price rose by 5%. These metrics highlight the sustained interest and activity surrounding SOL.</p>
<p style="text-align: justify">The upward trend in Solana’s price over the past year has also resulted in a notable 15% monthly price increase. Consequently, the total locked value (TVL) on SOL’s DeFi platforms reached $4.42 billion after a 7.83% rise, with the volume exceeding $1.2 billion.</p>
<h2 id="a-look-at-solana-meme-coins">A Look at Solana Meme Coins</h2>
<p style="text-align: justify">Leading protocols on the Solana network, such as Jito, Marinade, and Kamino, maintain TVLs above $1 billion. Experts suggest that Solana gained market traction through NFTs in 2021 and meme coins in 2024.</p>
<p style="text-align: justify">Despite the absence of <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">interest rate</a> changes, SOL’s current price outlook remains distant from its all-time high. Proponents of Solana’s growth point to the meme coin phenomenon and anticipated Federal Reserve rate cuts as potential triggers for SOL to reach a new resistance level.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">• Institutional investments are significantly boosting Solana’s market cap and price.<br> • Solana’s DeFi platforms are seeing increased total locked value, signaling robust network activity.<br> • The entry of new tokens in the market is fueling the growth of Solana meme coins.<br> • Market participants should be cautious, as meme coins carry high risks despite potential gains.</p>
<p style="text-align: justify">The recent surge in Solana’s price and activity indicates a strong interest from institutional investors, potentially driving further gains in the near <a href="https://newslinker.co/" rel="noopener noreferrer nofollow" target="_blank">future</a>. Investors should stay informed and consider the inherent risks when navigating the volatile cryptocurrency market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/institutional-investors-drive-solanas-growth" rel="noopener noreferrer nofollow">Institutional Investors Drive Solana’s Growth</a></h5>

Institutional Investors Drive Solana’s Growth

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