10:00 AM ▪
4
min reading ▪ acc
After a period of lull, crypto SOL is making a strong comeback, now trading at $146 USD per coin, up an impressive 12% in just one week. Other crypto market indicators follow the same positive trend and confirm renewed activity. But after this increase, the altcoin market is also proving to be very dynamic with amazing transaction volumes. What if Solana was about to reinforce her dominance?
Solana: a giant that crushes its competitors
The Solana network is not just another blockchain, it is an Ethereum Killer as well bulldozer in motion. Crypto SOL s dominates there astronomical trade volume of 67.8 billion dollars. This number does not come from nowhere: it reflects itgrowing enthusiasm among traders and investors for this increasingly attractive network.
It is not for nothing that the monsters of traditional finance are starting to be established there.
But SOL crpyto is not alone in making waves on Solana. from tokens like Dogwifhat (WIF) and (Bonk) BONKthis memecoin that made taxi drivers rich is also starring, with $1.7 and $1.2 billion in transactions.
Not forgetting the new kids trying to find a place in the sun:
- Bonfida (IFAD): $41.1 million;
- Jupiter (JUP): 1.1 billion;
- Stepn (GMT): 339.7 million.
In short, Solana has no intention of slowing down his crazy race and Looks like SOL will remain king of this crypto jungle.
SOL: a key player in the crypto market
If you still doubted the impact of SOL cryptocurrencies on the market, these numbers should convince you. While other cryptocurrencies struggle to hold their ground, SOL shines atop the Solana ecosystem.
So much so that even tokens like Raydium (RAY), which powers Solana’s automated market, saw a volume of $408.8 million. Others like Samoyedcoin (SAMO), more modestly, saw 24.8 million.
The Solana network continues to grow and attracts not only developers but also large investors it is this diversity that makes it its strength. According to Phoenix, each token plays a key role in the ecosystem:
- Pyth Network (PYTH): $1.1 billion in volume;
- Grath (GRT): 1.5 billion.
This growing interest only accelerates the speed of development of the network, which confirms the strategic location of Solana in the world of cryptocurrencies. And if you’re still wondering why Société Générale, the author of the euro stablecoin project, Citibank and Franklin Templeton are eyeing this network, the numbers speak for themselves.
Maximize your Cointribune experience with our “Read and Earn” program! Earn points for every article you read and get access to exclusive rewards. Register now and start reaping the benefits.
The blockchain and crypto revolution is in full swing! And on the day the effects are felt by the most vulnerable economy in this world, I will say against all hope that I had something to do with it
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.