Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Solana Outpaces Bitcoin and Ethereum with Impressive Price Growth

Solana Outpaces Bitcoin and Ethereum with Impressive Price Growth

Cryptodnes2024/12/11 23:00
By:Cryptodnes

The broader cryptocurrency market recently faced a temporary setback, losing its upward momentum. Solana (SOL) was also affected, seeing its price dip to between $215 and $220 earlier this week.

However, the cryptocurrency has since rebounded strongly, with its price now sitting at $228 – marking a 11% increase in the last 24 hours. This positive shift has led many analysts to predict that Solana’s price recovery may be just beginning.

In comparison to Bitcoin ( BTC ) and Ethereum ( ETH ), also saw notable gains of 5.5% and 6.1% respectively, but Solana’s performance stands out. This has sparked renewed optimism that SOL could potentially lead the next market rally. Historically, Solana has shown resilience, bouncing back quickly after market corrections, often fueled by strong community support.

Further supporting a bullish outlook, Solana’s Total Value Locked ( TVL ) has surged to $9.178 billion, signaling increased user confidence in the platform’s security and reliability.

READ MORE:
Billionaire Warns of Debt Crisis, Recommends Bitcoin and Gold as Safe Havens

Additionally, Solana’s Futures Open Interest (OI) has climbed by 2.18% to $5.17 billion, reflecting rising market engagement and investor confidence. With these key metrics pointing to continued growth, many believe SOL is poised to hit new all-time highs and may even lead the next cryptocurrency market rebound.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

States in the US are Competing! Another State Takes Action on Bitcoin (BTC) Reserves!

Alabama state auditor general Andrew Sorrell has proposed establishing a strategic Bitcoin reserve for the state.

Bitcoinsistemi2024/12/12 00:11

After Today’s CPI Report, Former FED Member Mester Shares Prediction on Rate Cuts

Mester, who was once one of the influential figures of the FED, made important statements about the institution's interest rate policy.

Bitcoinsistemi2024/12/12 00:11

HGS Application Hacked, Bitcoin (BTC) Demanded! Statement from PTT!

PTT's Fast Transit System (HGS) application was hacked and users were asked to send crypto money.

Bitcoinsistemi2024/12/12 00:00