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Solana’s native SOL token has seen an 8% jump from yesterday’s low, taking price back above the $70 level. This comes amid rising network activity 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 presale phase, with many experts speculating it could pump after listing on mainstream exchanges. 
<h2 class="wp-block-heading" id="strong-solana-rebounds-as-metrics-point-to-renewed-interest-strong">Solana rebounds as metrics point to renewed interest</h2> 
After a rocky 24 hours, Solana appears to be swiftly rebounding. 
SOL is up to $72.10, propelling Solana to the number six spot by market capitalization. 
This recovery has been fueled by a marked increase in trading volumes. 
Over <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener">$2.8 billion worth of SOL was traded globally</a> in the past day alone – a sizable jump from Dec. 10. 
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 <img decoding="async" src="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 - 20">
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Additionally, Solana’s volume-to-market cap ratio has surged to 9.40%, pointing to increasing investor interest. 
 You might also like: <a href="https://crypto.news/solanas-bonk-gains-30-flips-pepe-as-third-largest-meme-coin/"> Solana’s BONK gains 30%, flips PEPE as third-largest meme coin </a> 
From a technical analysis 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. 
SOL tapped this area twice on Dec. 11 before rising, suggesting that the $67 level now acts as a support zone. 
Looking ahead, the next upside target for SOL bulls will likely be $77.80. 
<h2 class="wp-block-heading" id="strong-rising-on-chain-activity-explains-solana-s-resurgence-strong">Rising on-chain activity explains Solana’s resurgence</h2> 
Despite its price troubles, there is a notable spike in Solana’s on-chain activity. 
The total value locked (TVL) in Solana decentralized finance (defi) protocols<a href="https://defillama.com/chain/Solana" target="_blank" rel="noopener"> has jumped to $929 million</a>, the highest level in over a year. 
 You might also like: <a href="https://crypto.news/jitos-165m-airdrop-rains-on-solana/"> Jito’s $165m airdrop rains on Solana </a> 
This renewed interest is also evidenced in Solana’s decentralized exchange (DEX) trading volumes. 
Over the past seven days, volume across all Solana DEXs<a href="https://defillama.com/dexs/chains/solana" target="_blank" rel="noopener"> has surged by nearly 143%</a> – outpacing gains seen on competing chains like Ethereum (<a href="https://crypto.news/ethereum-gets-the-boot-as-enjin-migrates-200m-nfts-to-its-own-blockchain/" data-type="post" data-id="14226248">ETH</a>). 
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 <img decoding="async" src="https://lh7-us.googleusercontent.com/qoZ0_bzHdw4EaiO0Z3-b1nN4bU2rmGpD1KrFdAUFgbuwA4QvPkqvz_covZxxGNYcDoDCkICxup9HlUdNAVfx62R0sK5NhiS9gNJ6x2jo6vr7qmpK6t7hpxAPeyG0y8BUIXPyEGRfvXng_q04PDRgN5w" alt="Solana rising as network activity spikes, BTCMTX presale gains momentum - 21">
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Experts believe that rising NFT demand has also fueled higher activity on Solana. 
In the last week,<a href="https://www.cryptoslam.io/blockchains/solana?headerPeriod=7d" target="_blank" rel="noopener"> Solana’s NFT sales volume has rocketed 52%</a>, with over 26,500 buyers.&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="strong-bitcoin-minetrix-presale-draws-investor-attention-strong">Bitcoin Minetrix presale draws investor attention</h2> 
As Solana shows signs of recovery, analysts are also looking at<a href="https://bs_b96bd0a7.crypto-news.care/" target="_blank" rel="noopener"> Bitcoin Minetrix</a>. 
The project employs a “stake-to-mine” model that allows holders to passively earn Bitcoin (BTC) when they stake the platform’s tokens, BTCMTX. 
Unlike traditional mining, which demands technical skills and high investment, Bitcoin Minetrix aims to democratize the process so anyone can participate. 
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 <img decoding="async" src="https://lh7-us.googleusercontent.com/Sf4ZVU5htYcRtTDw74t6AJRHjuUR3HASQMx5AEDVTrLwrrWWUlplX3M-10J8hHzSIpixgNlwm2XWOYaSjADlNsECBpWuDjhm9j4oZ2knQeJZUnN2G4BJUUoIiY1julvWJXlzGqJkPxGCXL7YhRyVtoY" alt="Solana rising as network activity spikes, BTCMTX presale gains momentum - 22">
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By staking BTCMTX, users receive mining credits to redeem for either cloud mining time or a share of the eventual yields. 
 You might also like: <a href="https://crypto.news/bitcoin-minetrix-a-stake-to-mine-project-raises-over-4m-in-presale/"> Bitcoin Minetrix, a stake-to-mine project, raises over $4m in presale </a> 
This model aims to provide ordinary crypto investors with BTC rewards. 
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. 
Presale demand has also helped Bitcoin Minetrix<a href="https://twitter.com/bitcoinminetrix?s=21" target="_blank" rel="noopener"> reach 9,100 followers on X</a>. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/aRIVtY1Pcv3Vuez1DQiAIkm8SxxwjHU0MveKnXrpfnfFrs5kjk_KyEJW-mqL-UZmhINj_dyXKCnuYwg97d-mmF9uHWWi-_Tu87dAHoDwgjoGExn1ZjDOW1ylnvp6g1YXXhqE98Mlpimm3RbVLMpBUX8" alt="Solana rising as network activity spikes, BTCMTX presale gains momentum - 23">
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The project has also attracted crypto influencers, such as No Bs Crypto, who speculates that BTCMTX could rally once listed on exchanges. 
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 <div class="wp-block-embed__wrapper"> <iframe title="Could &quot;Bitcoin Minetrix&quot; Be A 100X Meme Coin?" width="1020" height="574" src="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> 
 </div>
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While predictions like those from No Bs Crypto are speculative, they showcase the growing belief in Bitcoin Minetrix from experienced names in the industry. 
 Read more: <a href="https://crypto.news/btc-rallying-bitcoin-clones-could-surge-in-2024/"> BTC rallying, Bitcoin clones could surge in 2024 </a> 
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Solana rising as network activity spikes, BTCMTX presale gains momentum

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