Solana Up More Than 5% In 24 hours
Portfolio Pulse from Benzinga Insights
Solana (CRYPTO: SOL) has seen a 5.12% price increase over the past 24 hours, reaching $109.78, despite a 2.0% decline over the past week from $113.23. The coin is below its all-time high of $259.96. Trading volume has decreased by 40.0% over the past week, correlating with a slight 0.03% drop in circulating supply, now at 430.02 million. Solana's market cap is currently ranked #5 at $47.57 billion.
January 02, 2024 | 3:01 pm
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POSITIVE IMPACT
Solana (SOL) has experienced a 5.12% increase in price over the last 24 hours, reaching $109.78, though it has seen a 2.0% decrease over the past week. The trading volume has decreased by 40%, and the circulating supply has slightly decreased.
The short-term price impact for Solana is positive due to the recent 5.12% increase in its price, indicating a potential reversal of the recent downtrend. However, the decreased trading volume could suggest less market interest, which might limit the upside potential. The slight decrease in circulating supply could be neutral or slightly positive as it may imply a scarcity effect.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100