Main takeout:
Solana’s $ 1.9 billion TVL surpassed the entire Etherum Layer -2 ecosystem.
Solana’s 30 -day fee revenue ($ 43.4 million) rose 109% from last month.
The 8% funding rate of the SOL shows the demand for the healthy leverage of the bull.
After Bitcoin exceeded $ 100,000, Solana’s Aboriginal Token Sol (SOL) surged 24.8% between May 6 and May 10. Since then, SOL has struggled to maintain more than $ 180, but derivatives and onchain data still suggest that additional profits are still buried.
Solana records the fifth largest cryptocurrency with a market cap, but Solana Network is the main vice president of the main OnChain Metric, including TVL (Total Value Locked).
Solana’s total value of $ 10.9 billion in total value (TVL) surpasses the entire Etherum Layer 2 ecosystem, including basic, arbitration and snow. Even the BNB chain, which is perfectly integrated with the binance and trust wallets, cannot match the number of Solana. Solana’s remarkable 30 -day TVL increased Raydium Dex, 78%increase, JITO liquid staying solution, 41%increase, and marinade increased by 56%.
Increasing commission income increases SOL demand and exercise.
Getting the traction from the decentralized finance (defi) does not always convert to the demand for basic tokens because some networks have very low fees. For example, in the last 30 days, Ether Leeum Network has produced $ 24.9 million as a basic hierarchy, TRON has recorded $ 59 million and Solana has a total of $ 43.3 million.
Solana’s DAPPS revenue and chain fees have been consistent over the last four weeks. The latest figures are approaching the highest level in three months, which is very positive for sol because it causes demand. If 65%of the SOL supply related to Staying occurs, this epidemiology also supports upward price momentum.
relevant: Solana co -founder proposes a meta chain to modify the blockchain sculpture.
It is helpful to look at the demand for leverage to measure whether the trader is more optimistic about the price outlook for SOL. The positive rate of financing means that a long position (buyer) is paying to open the transaction.
Currently, the SOL Perpetual Futures financing rate is 8%and corresponds to 10%from the neutral range of 5%, depending on the capital cost. However, SOL has been trading at 40%compared to $ 295 since January 19, and there is little reason for excessive optimism. Nevertheless, as the activity on the Solana network increases, SOL can soon reach $ 200 and surpass competitors.
The exact catalyst that can increase the price of the SOL is uncertain, but the possibility includes the potential approval of the Solana Exchange-Traded Fund (ETF) in the United States and the finals of the final digital asset strategy reserve army of Solana. In addition, some analysts are optimistic about Solana’s traditional asset tokenization and can unlock the additional value of SOL.
This article is for general information purposes and should not be considered legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.