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Solana: Price Growth, Updates, and Increasing DeFi Liquidity

Solana: Price Growth, Updates, and Increasing DeFi Liquidity

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by Giorgi Kostiuk

2 days ago

The price of Solana continues to rise, reaching $209.77. The success of upgrades and increasing DeFi liquidity play a key role in this development.

Price Growth of Solana

Solana is currently trading at $209.77, which is a 3.48% increase over the last 24 hours. The token's market cap has risen to $113.49 billion, while the 24-hour trading volume surged by 35.96% to $9.08 billion. Experts note that the price increase is linked to expectations for the approval of spot ETFs for Solana in the U.S.

Success of Alpenglow Upgrade

The Alpenglow update has been approved by Solana validators with 99% support. This upgrade significantly reduces transaction finality from 12.8 seconds to just 150 milliseconds, which is comparable to Google search speeds.

SOL Price Analysis

The price of SOL has decisively broken above its 7-day SMA at $204.69 and its 30-day EMA at $192.23. If the price closes above $217.84, it could target $233.19. Meanwhile, key support levels are at $195 and $176.69.

The price increase of Solana, combined with updates and improved liquidity in DeFi, underscores its potential as a leading smart contract platform.

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