🧐🧐🧐What to expect from the price of Solana (SOL) in August✒️📌📌
Solana has once again confirmed its leadership among major altcoins, taking advantage of the collective July surge in the cryptocurrency market. SOL followed Bitcoin and surpassed the $200 mark, reaching a cyclical high of $206.19 on July 22.
The price rally triggered a surge of activity in the Solana ecosystem. This led to an increase in the total value of assets locked in DeFi (TVL), trading volume on decentralized exchanges (DEX), and the overall network revenue. However, signs of fatigue are beginning to appear. SOL has fallen below $190 again. Selling pressure may indicate profit-taking by investors following the July rise.
July showed an increase in activity in the SOL network
From July 1 to July 22, the price steadily increased, rising by 40%. As SOL rose, the on-chain value of tokens locked in the network's lending pools and vaults also increased. This contributed to the rise in the network's TVL. At the time of publication, the figure stands at $9.85 billion, which is a 14% increase compared to last month.
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