Solana Price Sees Increase Following Recent Positive News In Crypto Sector

The News Crypto –

At the time of writing, SOL is trading at $144.57, up 2.14% in the last 24 hours. If the price manages to go above $146 level, then it will likely test $150 resistance level.

A recent application for a spot exchange-traded fund (ETF) by VanEck and 21Shares likely caused the price of Solana to jump. Moreover, there has been discussion of a potential price surge as many critical measures have continued to improve in the last few days on the Solana blockchain.

Solscan data shows that during the last week, the number of Solana blockchain wallets has increased to over 919,000. Additionally, there has been an increase of almost 9 million new token accounts in the last week. An impending shift in price direction might be hinted at by these increasing measures.

Optimistic Sentiment

Recent statistics from DefiLlama show that the daily volume of trade on Solana DEX has surpassed Ethereum’s. The daily trading volume of Solana-based DEXes was $1.148 billion, surpassing Ethereum’s $736.62 million. Raydium, Meteora, Orca, Phoenix, and Lifinity are just a few of the Solana platforms that are now ranked in the top 10 DEXes based on daily trading volume.

The SOL price action has been steadily climbing over the last week, and this rising measure is only following suit. Following a five-week decline, the price has had a positive momentum lately.

At the time of writing, SOL is trading at $144.57, up 2.14% in the last 24 hours and 10.12% in the last 7 days as per data from CMC. Moreover, the trading volume is up 3.51%. If the price manages to go above $146 level, then it will likely test $150 resistance level. However, if the price breaks below $139 level, then it will decline all the way till $136 support level.

This content was originally published on The News Crypto

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