Trading volume with Solana increased by 165% per day

According to the CoinMarketCap analytical tracker, the Solana cryptocurrency SOL $86.39 Binance-Peg SOL -0.52% Market capitalization $95.14 million VOL. 24 hours $0.17 billion increased by 17.7% to $ 132.58 over the past day. At the same time, trading volume jumped by 164.9%.

As of March 1, the native cryptocurrency of Anatoliy Yakovenko’s blockchain has slightly adjusted — the virtual coin is trading at $ 132 with a market capitalization of $ 58.4 billion. Nevertheless, the digital token is still showing an increase in value of almost 5%. According to TradingView, Solana gained 24.88% over the week.

The volume of blocked funds (TVL) in the Solana network increased from $ 2.214 billion to $ 2.467 billion per day. This is a new high that has not been updated since June 2022.

The increase in TVL and trading volume by 164.9% indicates high activity in the ecosystem.

As a reminder, crypto expert Ali Martinez recently predicted a steady bullish trend for SOL. «TheTD Sequential indicator is giving a buy signal on Solana’s daily chart, indicating a potential upside that could cover one to four daily candles for SOL,» the expert said.