Bitcoin and Solana trading volumes hit historic highs

Bitcoin BTC $94,565.34 Bitcoin -2.04% Market capitalization $1.87 trillion VOL. 24 hours $1.62 billion and Solana SOL $187.04 Solana -1.84% Market capitalization $89.71 billion VOL. 24 hours $0.27 billion trading reached record highs in November, according to Token Terminal analysts. Bitcoin trading volume amounted to $ 2.2 trillion, while Solana reached $ 243 billion. For comparison, the volume of Ethereum ETH $3,355.45 Bridged Ether (StarkGate) -1.60% Market capitalization $0.3 billion VOL. 24 hours $0.79 billion during this period amounted to $ 1.1 trillion, which is still below the peak values of 2021.

Most notably, Solana showed a 46% increase in average weekly trading volumes above the peaks of the previous bull market. The Solana blockchain also took the lead in terms of the number of active users — 132 million in November, which is 81 million more than in 2021.

According to Glassnode’s analytics, Solana has seen a steady inflow of capital. Over the past year, this figure has increased by a record $ 776 million per day. Analysts also note the significant investment attractiveness of the coin among various categories of market participants.

The sharp recovery of Solana’s price after the FTX crash in 2022 indicates high demand for the asset. According to the analysis, Solana’s dynamics outperforms both Bitcoin and Ethereum in 389 out of 727 trading days.

Experts also note a bullish pullback technical signal, which creates attractive opportunities for investors. Overall, the price of Solana has increased by more than 7% since December 23, demonstrating a stable trend.