The thing is on fire with Solana (SOL), my people. The news is that its price has already surpassed $190, a level we hadn't seen since February! 🤯 In the last week, SOL rose more than 14%, and in the last month, an impressive 34%! This is no coincidence; it seems that the momentum of the altcoins, especially after the approval of the GENIUS Act, is giving it a massive boost.
Now, the crux of the matter is that analysts are saying if SOL definitively breaks the $190 barrier, we could see a "parabolic move", meaning an impressive takeoff! 🚀 Glassnode, one of the platforms that monitors all this, points out that around $190 there is a zone where more than 8 million Solana tokens were accumulated. Surpassing this is key, because after that, things get less dense in terms of resistance.
And what's happening in the digital streets? Well, chain activity and technical indicators are in "bullish" mode (that means the price is going up). Buyers have put in almost 7% more in the last 24 hours, pushing the price up to $191.79. The "shorts" (those betting that the price will go down) are sweating bullets, with liquidations exceeding $12 million in a single day. This shows the level of interest and speculation surrounding SOL, especially on decentralized platforms that take advantage of Solana's speed.
But that's not all. The Total Value Locked (TVL) in Solana, which measures the amount of money put into its decentralized applications (DeFi), has reached $10.2 billion! It's the first time in almost two years that it has reached that figure. This is a clear reflection of the growing adoption of Solana, with projects like Jito Sol, Jupiter Exchange, and Kamino Finance leading the charge in the DeFi ecosystem. Additionally, investment products based on Solana (ETP and ETF) are also seeing a significant influx of capital, with over $39.1 million in inflows last week.
In summary, the community is in disbelief with Solana. If it manages to consolidate above $190, the next psychological stop could be, no less, than $200. 🤑 Will Solana surprise us and take off? Stay tuned, because this is getting interesting.$SOL
