{"id":30116,"date":"2022-09-25T16:58:18","date_gmt":"2022-09-25T16:58:18","guid":{"rendered":"http:\/\/egrowonline.com\/?p=30116"},"modified":"2022-09-25T16:58:18","modified_gmt":"2022-09-25T16:58:18","slug":"will-these-solana-sol-updates-finally-be-enough-to-push-the-price","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=30116","title":{"rendered":"Will these Solana [SOL] updates finally be enough to push the price"},"content":{"rendered":"


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At the time of writing, Solana<\/span><\/a>\u2019s (SOL) seven-day performance was pretty sluggish as it failed to register any promising gains. Though the prevailing crypto-market is a factor behind this performance, there might be other reasons as well. Nonetheless, there have been several positive developments in the Solana ecosystem that have the potential to change SOL\u2019s fate. <\/span><\/p>\n

Ergo, the question is whether SOL will be able to reflect those on its chart. At press time, SOL was trading 0.24% lower than yesterday\u2019s close with a market capitalization of over $12 billion.\u00a0<\/span><\/p>\n

What\u2019s working in SOL\u2019s favor?<\/strong><\/h4>\n

Solana recently outperformed several cryptos with higher market caps as it nabbed the second position in the list of blockchains by total staked value. In doing so, it fell just behind the king of altcoins \u2013 Ethereum. Interestingly, ADA, BNB, and AVAX also made it onto the list.\u00a0<\/span><\/p>\n

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#Solana<\/a> is asserting its position firmly day by day ⚡️<\/p>\n

Thanks to data from @StakingRewards<\/a>, we found that @solana<\/a> is one of the leading blockchains by Total Staked Value 📈<\/p>\n

Check our graphic below for further information 👇#SolanaNews<\/a> #SOL<\/a> #Staking<\/a> #DeFi<\/a> pic.twitter.com\/Oh3aKjDG34<\/a><\/p>\n

\u2014 Solana News ☀️ (@SolanaNews) September 24, 2022<\/a><\/p>\n<\/blockquote>\n

Not only by total staked value, but<\/span> SOL<\/span><\/a> was also listed on the chart of top DeFi projects in terms of social activity. With so many positive news updates surfacing for SOL, it is only time to ask when this would reflect on the altcoin\u2019s chart.\u00a0<\/span><\/p>\n

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Top DEFI Projects by Social Activity@solana<\/a> @RichQuack<\/a>@CardanoFeed<\/a> @Uniswap<\/a>@PancakeSwap<\/a> @avalancheavax<\/a>@Ripple_XRP1<\/a> @swapleonicorn<\/a>@hedera<\/a> @EverRise<\/a>#TyranoAnalytics<\/a> #DEFI<\/a> #QUACK<\/a> #SOL<\/a> pic.twitter.com\/QCtjbJSP8O<\/a><\/p>\n

\u2014 Tyrano Analytics (@TyranoAnalytics) September 23, 2022<\/a><\/p>\n<\/blockquote>\n

Another major update for Solana came last week, when it outperformed even Ethereum. Solana recorded around 40 million daily transactions between April and June of 2022, leaving ETH behind with about 1 million daily transactions.<\/span><\/p>\n

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2022 has been the year for Solana \u2013 between April to June of 2022, SOL has climbed to roughly 40 million daily transactions, leaving ETH behind at around 1 million daily transactions only#SolanaSummer<\/a><\/p>\n

Read on 👇 pic.twitter.com\/Z0Kdw0yLok<\/a><\/p>\n

\u2014 Magic Eden 🪄 (@MagicEden) September 19, 2022<\/a><\/p>\n<\/blockquote>\n

\u00a0<\/p>\n

A look into Solana\u2019s on-chain metrics also painted a positive picture for the token\u2019s future as several of them supported a possible uptick in the coming days. <\/span><\/p>\n

For instance, despite failing to register massive gains, SOL\u2019s volume increased considerably over the last week. This, by and large, is a positive signal. SOL\u2019s social dominance also marked a spike on 22 September as several developments were happening on the network, but then declined over the last few days.<\/span><\/p>\n

\"\"\"\"<\/a><\/p>\n

Source: Santiment<\/p>\n<\/div>\n

Interestingly, <\/span>Solana<\/span><\/a>\u2019s NFT space also witnessed some activity. SOL\u2019s total number of NFT trade counts also increased considerably last week, indicating more users active on the blockchain.\u00a0<\/span><\/p>\n

Moreover, Messari\u2019s data indicated that SOL\u2019s volatility increased over the last few days, further increasing the chances of a northbound breakout in the days to come.\u00a0<\/span><\/p>\n

\"\"\"\"<\/a><\/p>\n

Source: Messari<\/p>\n<\/div><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

At the time of writing, Solana\u2019s (SOL) seven-day performance was pretty sluggish as it failed to register any promising gains. Though the prevailing crypto-market is a factor behind this performance, there might be other reasons as well. Nonetheless, there have been several positive developments in the Solana ecosystem that have the potential to change SOL\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":30117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[1903,195,297,565,84,468],"class_list":["post-30116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-finally","tag-price","tag-push","tag-sol","tag-solana","tag-updates"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/iphone-5537230_1280-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30116"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30116\/revisions"}],"predecessor-version":[{"id":30118,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/30116\/revisions\/30118"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/30117"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30116"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}