💥💥Solana Surpasses 400 Billion Transactions: SOL Tests Critical Support 💥💥
Solana (SOL), while celebrating its 5th anniversary, has reached an important milestone, exceeding a total transaction count of 400 billion. This achievement reflects the strong growth in SOL's transaction volume and network activity.
Recently, Solana's decentralized exchange (DEX) volume has also shown a remarkable increase. In November, DEX transaction volume surpassed $100 billion, outpacing Ethereum and Binance Smart Chain. This increase is attributed to the interest in memecoins, as well as low transaction fees and user-friendly infrastructure.
The Block
SOL's price is currently trading at around $146.62, fluctuating between $145.22 and $150.08. The RSI indicator has declined to 50.61, indicating a weakening momentum. This situation raises the risk of a drop to $133.82 if the support at $145.59 is broken. However, should buyers step in, the $157 resistance may be retested.
In conclusion, the growth of Solana's ecosystem and network activity are among the significant factors influencing SOL's price movements. Investors should carefully monitor technical indicators and market dynamics.
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