Solana is a high-performance layer-1 solution optimized for scalability, it can scale to 50K transactions per second. In the past 1 week, in terms of development activity on the blockchain, Solana has secured the 3rd spot with 348 commits. TVL locked in the DeFi protocols built on Solana Blockchain stands at $997 Mn.
Solana came down ~67% from its all-time high of ~$58.3 and has currently taken support at 50 DEMA. It has bounced back from its recent low of ~$19.1 and is currently trading at $43.4.
It is currently forming a strong bullish candle and the news of acceptance of BTC as a Legal tender is set to support the crypto ecosystem to rise higher.
The support to the lower side is present at $36 while as SOL is trading above its 50 DEMA, it looks adamant to move to new highs and may give targets of $50.
Solana came down ~67% from its all-time high of ~$58.3 and has currently taken support at 50 DEMA. It has bounced back from its recent low of ~$19.1 and is currently trading at $43.4.
It is currently forming a strong bullish candle and the news of acceptance of BTC as a Legal tender is set to support the crypto ecosystem to rise higher.
The support to the lower side is present at $36 while as SOL is trading above its 50 DEMA, it looks adamant to move to new highs and may give targets of $50.