👉👉👉 #Solana Overtakes Ethereum in #stablecoin Activity, is 20% Price Rally Next?
Solana Surpasses Ethereum in Stablecoin Activity Despite Price Dip
- Solana has overtaken Ethereum in stablecoin supply growth, marking a significant shift in the crypto landscape. Data from Artemis reveals Solana leading with a net monthly increase of $5.3B, surpassing Ethereum’s $4.2B. This growth underscores Solana's appeal for faster, cost-effective transactions, drawing traders and DeFi users.
- Other chains like Base and TON also showed positive growth, while Tron and Arbitrum faced declines. Solana’s momentum reflects its increasing role in reshaping DeFi dynamics, posing a challenge to Ethereum’s dominance.
SOL Price Movement
- $SOL is trading at $231, down 10% in the last 24 hours. The price is testing support at $230. A further decline could target $200, while a rebound may retest $250, with a potential breakout heading toward $300.
- The RSI at 29.69 indicates oversold conditions, suggesting a possible recovery. Solana’s strong fundamentals and growing DeFi adoption point to bullish prospects, though resistance levels remain critical.
