The altcoin Solana (SOL) last traded above $100 in May 2022. It rose to $112.4 on Monday, December 25th. Over the week, its capitalization soared 63% to $4.8 billion.
SOL trading volume rose sharply over the weekend. The Solana network ranked first in the DeFi decentralized finance market in terms of turnover on exchanges. For example, trading on the Uniswap platform set a new record.
However, analysts believe that the growth of the Solana cryptocurrency was the result of the activation of speculators. They provoke high interest in the digital currency and stimulate the expansion of the infrastructure used by the power of Solana.
Compared to etherium, this network is significantly cheaper. It is popular among traders making transactions with tokens of gaming blockchain applications.
An important event was the overcoming of resistance around $60 at the end of November.
The growth of the altcoin’s value is accompanied by high targeted activity.
According to CoinGlass, open interest in Solana futures has grown to $1.35 billion. On crypto exchanges Binance and Bybit, traders deployed contracts for $583.48 million and $424.83 million, respectively.