Recently, Solana has shown impressive market results, reaching a market cap of over $100 billion and setting records in trading volume and open interest in futures. Let's explore the key points of this growth.
Solana Market Cap Surpasses $100 Billion
According to CoinGecko data, Solana's token ($SOL) surged to $190.97, reflecting a 5.7% daily gain and marking the first value above $190 in 155 days. This rise pushed Solana's market capitalization above $102 billion, surpassing Intel's market cap for the first time.
All-Time High Open Interest in Futures
Open interest in Solana futures reached an all-time high of $9.52 billion, signaling strong institutional participation. Derivatives data from Coinglass shows a 55.79% increase in trading volume to $25.04 billion, along with a 478.22% increase in options volume. Liquidation charts indicate that short positions lost $11.18 million over 24 hours, while long positions lost just $4.48 million.
Role of Launchpads in Solana Ecosystem
According to SolanaFloor and Blockworks, launchpads generated $23 billion in trading volume over the past 30 days, accounting for 36.1% of all application-generated revenue on Solana. Daily launchpad token volume ranged between $460 million and $1.3 billion, with daily token launches between 163 and 519 tokens on platforms like Pump.fun and LetsBonk.fun.
Recent achievements by Solana indicate its growing influence in the cryptocurrency market. The ecosystem continues to evolve through active activity in the futures market and successful token launches, reaffirming its demand among traders and investors.
