The crypto market has regained strength, with Solana showing impressive resilience despite a global slow-down in DApps activity.
Market Recovery: Solana's Role
The FED's decision to maintain rates contributed positively to the growth of cryptocurrencies. Solana stood out with an 8% daily increase, although this wasn't due to specific ecosystem changes.
Competitor Comparison and TVL
Despite the decline in activity, Solana remains attractive to investors. Its Total Value Locked (TVL) grew by 10% to 53.2 million SOL, outperforming the BNB Chain and establishing Solana as the second-largest blockchain in terms of locked value.
Technical Indicators and Prospects
Technical indicators point to an accumulation phase for Solana, with potential growth on the horizon. The RSI at 41.66 indicates the possibility of a continued bullish trend.
Despite current volatility, Solana shows resilience through its accumulation structure and technical indicators. The question remains: can it push beyond current levels amid changing supply and demand?
