Solana Rises More Than 5% In 24 hours
Portfolio Pulse from Benzinga Insights
In the past 24 hours, Solana's (CRYPTO: SOL) price has risen by 5.83% to $21.75, despite a negative trend over the past week where it experienced a 2.0% loss. The trading volume for the coin has fallen 36.0% over the past week, while the overall circulating supply has increased by 0.17% to 408.15 million. The current market cap ranking for SOL is #10 at $8.85 billion.
August 29, 2023 | 3:01 pm
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Solana's price has risen by 5.83% in the past 24 hours, despite a 2.0% loss over the past week. The trading volume has fallen by 36.0%, while the circulating supply has increased by 0.17%.
The rise in Solana's price despite the decrease in trading volume suggests a strong demand for the coin. The increase in circulating supply could potentially dilute the value of the coin, but it seems that the demand is currently outpacing the supply, leading to the price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100