Solana (SOL) price has seen a significant increase over the past 24 hours, currently trading at $201.05, representing a 4.47% increase from the previous day.
Over the past month, the price of SOL has fluctuated between $186.55 and $204.14, with a trading volume of $2.64 billion over the past 24 hours.
This increase in Solana's price comes in a context where activity on the network's blockchain has decreased by 28% over the past week, which could be related to investors' anticipation of the possible approval of a SOL spot ETF.
Importantly, although the current price of SOL is 31.89% lower than its all-time high of $294.85, the cryptocurrency has shown positive performance over the past year, with an increase of 70.91%.
In summary, Solana has seen a surge in price over the past 24 hours, although activity on its network has recently decreased. Investors should consider these factors and market conditions before making investment decisions.
