As of March 24, the value of SOL token increased by 8.5%, reaching $142 for the first time in two weeks. This growth reflects the broader crypto market recovery amid reducing fears of an economic downturn.
Recovery in the Crypto Market
SOL shows an 8.5% rise, echoing the broader crypto market rally. Traders expect reduced economic risks, contributing to increased market risk appetite.
Current Solana Network Activity
SOL exhibits its own merits, including a rise in network activity and growing interest from traders. Despite a 23.7% decrease over the last two months, SOL remains the second-largest blockchain in terms of total value locked.
Growth Potential and ETF Expectations
While SOL trades 52% below its all-time high, interest continues to rise. Anticipated approval of a spot Solana ETF in the US could lend legitimacy to the asset.
SOL remains a promising asset due to its significant total value locked and increasing network fees. ETF approval expectations and trader interest point to potential further price growth.
