Solana (SOL) is showing active growth in the market, currently at $176.70. Market activity has significantly increased over the last 24 hours.
Market Activity and SOL Price Analysis
Currently, Solana is trading at $176.70, which is up 1.09% from previous days. The 24-hour trading volume has reached $4.55 billion, a 50.21% increase. The total circulating supply is approximately 537.92 million SOL out of a limit of 605.6 million, indicating robust liquidity in the market. Prices are fluctuating between $172 and $180, and if it breaks above $180, it could push towards the $188-$195 range.
Hackathon Results and Ecosystem Developments
The recently concluded Solana Hackathon gathered over 10,000 participants, showcasing 1,412 final projects. This highlights growing interest in building in the Solana ecosystem across payments, NFTs, and DeFi. Especially noted were projects integrating Firedancer and Solana Pay.
Current Events and Updates in the Solana Network
Currently, the number of active validators has surpassed 2,400, with a focus on expanding outside North America. Solana Pay continues to integrate with new fintech companies in Latin America, allowing merchants to accept SOL and USDC with near-zero fees. Additionally, NFT activity has recovered following the launch of new creator tools and royalty enforcement protocols. The new iteration of the Firedancer testnet, developed by Jump Crypto, is expected for mainnet deployment later this year.
Overall efforts to expand Solana and growing developer interest underscore the importance of the ecosystem for the future of the cryptocurrency market.
