• 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

Warning of Bitcoin Price Collapse as Mining Profitability Hits Decade Low

chest

Warning of a potential Bitcoin price collapse due to mining profitability hitting a decade low.

user avatarBayarjavkhlan Ganbaatar

XRP Price Declines Amid Whale Selloff

chest

XRP price has dropped to 199 as Ripple whales aggressively offload their holdings, causing a significant impact on traders' sentiment.

user avatarMohamed Farouk

Ripple's Massive XRP Transfer Raises Market Speculation

chest

Ripple Labs has transferred 200 million XRP, valued at approximately $445 million, raising concerns about potential market implications and speculation of a broader selloff.

user avatarElias Mukuru

U.S. Awards 200 Million in AI Development Contracts for Military Enhancements

chest

The U.S. has awarded 200 million in contracts for AI development to enhance military capabilities.

user avatarDiego Alvarez

Brett BRETT Gains Traction as Layer 2 Token

chest

Brett BRETT is gaining traction as a notable Layer 2 token, offering fast transactions and low gas fees.

user avatarMaria Fernandez

Bitcoin Hashprice Decline Reshapes Mining Strategies

chest

The recent drop in Bitcoin hashprice to a five-year low is prompting miners to explore alternative strategies.

user avatarGustavo Mendoza

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.