Coin Edition -
- Solana token surpasses key resistance, now at $162.97.
- Robinhood’s EU staking introduction boosts SOL prices
- SOL’s technical indicators signal bullish trend amid potential correction
Solana, a smart contract network, has emerged as one of the year’s most formidable assets, with its valuation persistently thriving within the green spectrum thriving over the past 30 days. This bullish momentum is evident in the daily chart as the SOL token experiences a price appreciation exceeding 13% compared to the previous day, stabilizing at $162.97.
SOL/USD/BTC 24-Hour Chart (Source: CoinStats)
When compared to principal cryptocurrencies such as Bitcoin and Ethereum, SOL has demonstrated superior appreciation, rising by 6.54% against Bitcoin during the same timeframe. This favorable trend has propelled Solana to ascend to the fifth position in the cryptocurrency market capitalization rankings.
As of today, its market cap has surged by 13.26%, culminating at $73,061,205,121. Solana’s trading volume further mirrors renewed investor enthusiasm, showcasing a remarkable increase of 69.27% in the past 24 hours, aggregating to $4,202,415,934.
This upsurge denotes intensified market activity and increasing investor confidence in the prospective expansion of the Solana ecosystem. Nonetheless, despite this upward trajectory, it is crucial to acknowledge that SOL remains 37.37% below its peak of $260.06, attained three years prior.
Robinhood EU Staking Fuels Solana Growth
The recent ascension of Solana’s ecosystem can be attributed to the introduction of SOL staking in Robinhood’s European cryptocurrency division. These enhancements are designed to enhance accessibility, refine user interaction, and underscore focus on crypto enthusiasts within Europe.