The cryptocurrency Solana (SOL) has once again caught attention, showing notable growth in the market due to several factors including new hardware launches and institutional investments.
Seeker Device Launch and Byreal Success
The recent launch of the Seeker mobile device by Solana has attracted user interest in Web3 hardware. Additionally, Bybit CEO Ben Zhou unveiled *Byreal*, the first on-chain DEX built on Solana, scheduled to launch by the end of June.
Institutional Investments and Activity Growth
Institutional investments are gaining momentum, with Fidelity filing for a Solana ETF with the US SEC, followed by Invesco-Galaxy through Delaware Trust. Moreover, engagements on Solana's network have doubled Ethereum's, hitting 45.77 million interactions, signaling an increase in developer and user activity.
Current Price and Short-term Forecast for Solana
Currently, Solana is trading at $157.18, after ranging between a low of $144.36 and a high of $157.13. Its market cap stands at $82.67 billion, with a 24-hour trading volume of $4.48 billion, seeing a rise of 113.19%. Analysis indicates a potential further increase toward resistance at $169.61.
In conclusion, Solana (SOL) is experiencing positive changes due to new hardware and increased institutional investment. Market participants continue to monitor the evolving situation.
