Solana's Price Increased More Than 11% Within 24 hours
Portfolio Pulse from Benzinga Insights
Solana's (CRYPTO: SOL) price has surged by 11.21% in the last 24 hours, reaching $109.3, with a weekly increase of over 15%. Despite a 10% drop in trading volume over the week, the circulating supply rose by 1.05% to 429.18 million. Solana's market cap ranks it 5th at $46.73 billion. The article includes a comparison of Solana's price volatility over the past day and week using Bollinger Bands.
December 29, 2023 | 3:00 pm
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POSITIVE IMPACT
Solana's price has risen significantly, indicating strong recent performance. The increase in circulating supply and a high market cap position suggest continued investor interest.
The sharp increase in Solana's price over the past 24 hours and the past week reflects strong market momentum, which could attract more investors in the short term. The rise in circulating supply without a corresponding drop in price suggests demand is keeping pace with the increased supply. The decrease in trading volume could be a sign of consolidation after recent gains, but the overall positive trend is likely to have a bullish impact on the price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100