Solana

DeFi

Rise

Gains

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-ecosystem-achieves-significant-gains/" data-wpel-link="internal">Solana Ecosystem Achieves Significant Gains</a> 
One of the most profitable altcoins this year in terms of market value was SOL Coin. The <a href="https://en.coin-turk.com/bitcoin-and-solana-show-signs-of-recovery-and-potential-growth/" data-wpel-link="internal">Solana</a> ecosystem practically wrote a legend. Especially the interest in low market cap altcoins both boosted DeFi activity and brought thousands of times gains in some altcoins. Of course, most new Solana altcoins also eroded <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>‘ capital. 
<h2 style="text-align: justify" id="solana-s-rise">Solana’s Rise</h2> 
Solana (SOL) and the altcoins in its ecosystem achieved significant gains in the last 24 hours. In 7 days, the market value of altcoins on the Solana network jumped from $220.93 billion to $234.7 billion. The token of the most popular DeFi platform on the network, Jupiter, JUP, increased by nearly 11% in the last 24 hours. Its weekly gain remained at 4.28%. 
Despite the fluctuation in the BTC price, PYTH Coin also rose by 8.6%. Its weekly gain was over 10%. One of the most popular meme coins on the Solana network, Dogwifhat (WIF), rose by nearly 5% and carried its market value to $2.62 billion. 
<h2 style="text-align: justify" id="sol-coin-commentary">SOL Coin Commentary</h2> 
On January 1, 2023, SOL Coin, which found buyers at $10, rose more than 17 times. In terms of market value, it had the biggest gain. However, most investors could not act boldly at that time due to concerns about the massive SBF reserve following the FTX collapse. The Solana network has continued its steady growth since then. The volume on the network increased by nearly 20% in the last 24 hours alone, reaching the $2 billion threshold. 
The total locked value on the network jumped to $5.42 billion. According to DappRadar <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, the increase in unique addresses on the network was 15% in just one week. All these indicate that the rise of SOL Coin is related not only to market excitement but also to the strong return in network activity. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-374305 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/SOL-Coin-TVL-Temmuz-2024.png" alt="" width="1827" height="818"> 
On the technical front, we see that investors expect a rise due to the cup and handle formation. The formation, which was laid on May 20, could push the SOL Coin price up by 35% with closures above the $186 neckline. This means a rise targeting $252. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-374306 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/SOL-Coin-Teknik-Formasyon.png" alt="" width="1752" height="842"> 
Thus, SOL Coin will be set in motion for a new all-time high price. Unlike its competitor BNB Coin, which positively diverged in general market rises for months, SOL Coin has not yet managed to set a new ATH. At least, we can say it hasn’t achieved this yet. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-ecosystem-achieves-significant-gains/" data-wpel-link="internal">Solana Ecosystem Achieves Significant Gains</a></h5>
The post <a href="https://en.coin-turk.com/solana-ecosystem-achieves-significant-gains/" data-wpel-link="internal">Solana Ecosystem Achieves Significant Gains</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Solana Ecosystem Achieves Significant Gains

Table of Contents

COINTURK NEWS

Other articles published on Jul 27, 2024

Top Trump Tokens To Buy For 2X – 5X Surge During Q3!

Michael Novogratz’s Galaxy Digital Acquires $1B in Ethereum Staking Assets

WazirX to Freeze 45% of Assets as Part of Recovery Plan

BTCC Exchange Introduces Up to 50x Leverage on Over 300 USDT-Margined Trading Pairs

Leading Crypto Expert Skeptical About XRP’s Future Potential, Favors These High-Growth Emerging A...

Franklin Templeton and SBI Holdings Team Up to Launch Bitcoin ETF in Japan

Join our free newsletter for daily crypto updates!