• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Solana Transfer Volume Surges Past Market Cap

user avatar

by Giorgi Kostiuk

a year ago

Crypto analytics firm Glassnode reported a massive spike in Solana's transfer volume, surpassing its total market cap.

Significant Volume Increase

On a single day, Solana recorded a $224 billion transfer volume, nearly three times its market cap, which is about $78 billion currently. Glassnode credits this spike to a highly active wallet, likely an arbitrage bot, which increased its activity in early October.

Current Market Fluctuations

Currently, SOL trades at $188.33, a 13.13% increase in the last 24 hours. Raoul Pal, CEO of Real Vision, suggests if SOL sustains $185 as a support, it could indicate a significant uptrend for the broader crypto market.

Hopefully we can break through these levels and move forward. I’m not buying or selling right now, just watching the market phases.Raoul Pal

Analysts' Predictions

Analysts predict a massive Solana rally to $4,500, noting a 'cup-and-handle' pattern on Solana’s price chart, a bullish indicator suggesting completion of its correction phase, ready for a significant upward move.

The spike in Solana's transfer volume has drawn attention to its price movements and prompted analysts to forecast future behavior of the cryptocurrency.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitcoin Price Rally Sparks Hope for Bullish Rebound

chest

Bitcoin recently traded as high as 73,000, indicating a potential bullish rebound despite being in a bear phase for over six months.

user avatarFilippo Romano

Bitcoin Price Slips Below 73,000 Amid Changing Investor Sentiment

chest

Bitcoin price dipped below 73,000 as investors adjust their exposure amid inflation concerns.

user avatarEmily Carter

Wall Street Firms Build Infrastructure for Institutional DeFi

chest

Wall Street firms are building infrastructure for institutional DeFi, processing over $8 trillion in tokenized repo settlements and enabling on-chain governance for tokenized equity.

user avatarTomas Novak

Ethereum Emerges as Leader in Tokenizing Real-World Assets

chest

Ethereum is becoming the leading platform for tokenizing traditional assets, with significant institutional investment.

user avatarKaterina Papadopoulou

Whale Movement Sparks Brief Relief Bounce for Dogecoin

chest

A significant whale movement of 327 million Dogecoin off Robinhood led to a temporary price bounce.

user avatarLeo van der Veen

Dogecoin's Future Uncertain Amid Cooling Market Trends

chest

Dogecoin's future is uncertain due to a downward trend indicated by its BTC pair, with potential targets around 7 cents, as market analysts highlight the cooling of hype cycles and lack of catalysts.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.