Price Performance
• Current Price: $251.28
• Recent High: $256.22
• 12-Month Growth: 476%
Technical Indicators
• MACD: Bullish crossover; MACD line above the signal line.
• RSI: Currently at 63, indicating strong buying momentum without overbought conditions.
Investor Interest
• Institutional Investments: $173 million raised by 29 Solana-based DApps in Q3 2024, a 54% increase from the previous quarter.
• Global Investor Interest: Solana accounts for 49.3% of global investor interest in blockchain ecosystems
Sources: TradingView News, Crypto News
Network Activity
• Average Daily Fee Payers: 1.9 million in Q3 2024, a 109% increase quarter-over-quarter.
• Total Value Locked (TVL): $6.315 billion, with platforms like Jito, Raydium, and Kamino Finance leading the charge.
Market Dynamics
• Whale Activity: Top holders control 59.15% of stablecoin reserves, indicating strong confidence among major investors.
• Social Dominance: 3.97%, reflecting significant engagement across platforms.
Conclusion: Solana’s impressive metrics underscore its growing prominence in the crypto space. With robust technical indicators, increasing institutional investments, and active network participation, SOL is a cryptocurrency to watch closely.
#ETHvsSOL #SOLANA #SolanaPricePrediction
