BlocksInform
Solana (SOL) is on hyperdrive as the network quickly gains momentum in terms of liquidity which are seen at more than 300% as of press time. After a massive drop in prices, Solana changed the course of things with indicators that speak for themselves.
Here’s a quick glance at SOL performance of late:
- SOL metrics and trustworthiness score looking positive
- Solana’s TVL seen to jump higher
- Solana rolls out Saga Pass Cards
Here's a quick look at the SOL performance of the end:SOL measurements and positive reliability statesSolana rolls out Saga Pass Cards seen to jump high erSolana rolls out.
Solana has been down for the past couple of weeks.
SOL Related Readings: Aptos Climbs 75% – Keeping APT in check.
According to price monitoring by Coingecko, SOL price is currently trading at $24.28, up 3.0% in the last seven days.
Evidently, following the FTX crash, short-term traders and the bulls were fixated on SOL which unlocked roughly 100 million coins from different contacts which could have punched a hole in the market, driving the price of SOL to null or $0.
According to Coingecko's price monitoring, the SOL price is currently trading at $24.28, an increase of 3.0% over the past seven days.
Evidently, in the aftermath of the FTX crash, The short-term traders and bulls were fixed on the ground which released about 100 million pieces of various contacts that could have drilled a hole in the market, drive the price of the ground to zero or zero dollars. but, This did not happen because the owners of the land chose to brandish their coins while waiting for better days and not to panic and sell their own funds.
SOL total market cap at $8.9 billion on the daily chart | Chart: TradingView.comWith this hypergrowth happening with Solana, the investors decided to accumulate longs which triggered SOL’s open interest to accelerate higher. With this hypergrowth occurring with solana, investors have decided to accumulate long that sparked open ground interest to accelerate higher. In fact, approximately $460 million in orders are now open to crypto derivatives exchanges.
In fact, approximately $460 million in orders are now open to crypto derivatives exchanges.
How bad could it be for SOL?
Now, Free interest is really not responsible here as it can’t really pull sol price down but it’s the increased number of longs that could trigger a squeeze brought about by sol holders rapidly selling their holdings to counterpunch future risks.on the brighter side, Nothing is set in stone and soil owners and investors do not need panic at the moment as It has not yet gained a lot of ground to trigger millions of asset windings-up. 2 Spot On Top Chains List
SOL is performing so well that it managed to jump to the second spot on the top chains list in terms of NFT trade volume seen in the past month. 2 spot on top chains listsol is performing so well that it managed to jump to the second spot on the top chains list in terms of nft trade volume seen in the past month.
Top chains by NFT volume (30 days)
??@solana
4??@Immutable
5??@Cardano
7??@BNBCHAIN pic.twitter.com/trNHUxk1fB
— Delphi Digital (@Delphi_Digital) January 21, 2023
Solana Mobile has announced that they would be rolling out new cards on rotation. Top chain by nft volume (30 days)? @bnbchain pic.twitter.com/trnhuxk1fb – delphi digital (@delphi_digital) January 21, 2023solana mobile announced the roll-out of new rotational boards.
Basically, the first card is only for og saga pass holders, and then a random card will be introduced each week.
Roughly speaking, the first card is reserved for OG Saga Pass holders, then a random card will be introduced each week. The collection of Saga Pass cards will soon be checked via MagicEden.
Accompanying text: ApeCoin Buckles.
Photo: defillamarelated reading: apecoin buckles as news of stolen bayc nft hits the market meanwhile, based on Defillama's figures, the total value locked in the network is up YTD, That's a good thing.com
