Solana's Price Increased More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Solana's (CRYPTO: SOL) price rose 3.95% to $41.97 in the past 24 hours, continuing its positive trend over the past week with a 16.0% gain. However, the trading volume for the coin has fallen 18.0% over the past week, while the overall circulating supply of the coin has increased 0.35% to 420.75 million. The current market cap ranking for SOL is #7 at $17.65 billion.
November 07, 2023 | 3:00 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Solana's price has increased by 3.95% in the past 24 hours and 16.0% over the past week. However, its trading volume has decreased by 18.0% over the past week, while its circulating supply has increased by 0.35%.
The increase in Solana's price, despite a decrease in trading volume, suggests a strong demand for the coin. The increase in circulating supply could potentially dilute the value of existing coins, but this doesn't seem to have negatively impacted the price in the short term. The overall trend for Solana is positive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100