• 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

Increased Whale Accumulation Signals Confidence in Bitcoin's Future

chest

Amid the ongoing market correction, there has been a notable increase in Bitcoin whale wallets, suggesting a strategic accumulation by large investors.

user avatarRajesh Kumar

Rising Interest in Privacy Sector Amidst ZEC's Struggles

chest

Despite ZEC trading under pressure, the privacy sector is gaining momentum with increased institutional interest.

user avatarLucas Weissmann

ZEC Price Decline Accelerates Towards Lower Liquidity Pockets

chest

ZEC's price has sharply declined from the 670 area towards the low 500s, with selling pressure intensifying.

user avatarFilippo Romano

Bitcoin Tests Crucial Macro Resistance Zone Amid Historical Patterns

chest

Bitcoin is currently testing a significant macro resistance zone, with analysts warning of potential outcomes based on historical patterns.

user avatarEmily Carter

Privacy Coins See Surge in Speculative Trading Amid Volatility

chest

The recent volatility in privacy coins has intensified the focus on speculative trading strategies among traders, leading to increased market sensitivity and potential opportunities.

user avatarKaterina Papadopoulou

Trader 0x152e Faces Major Loss on Zcash, Shifts Strategy

chest

Trader 0x152e has closed a long position on Zcash with a loss of 846,000 and shifted to a 5x short position on Zcash and a 20x long position on Bitcoin.

user avatarTomas Novak

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.