| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107932.6500000000 |
| ETH | $2455.9020000000 |
| BNB | $650.2700300000 |
| XRP | $2.1926180000 |
| ADA | $0.5655633000 |
| SOL | $151.6548000000 |
| DOGE | $N/A |
| DOT | $3.4306100000 |
| LTC | $86.8039000000 |
| LINK | $13.4917500000 |
Category: CRYPTO NEWS
The post 5 Key Metrics Indicate Solana Price Will Hit New All-Time Highs appeared on BitcoinEthereumNews.com. Over the past 7 months, the Solana price has traded sideways, struggling to sustain above the $200 level. However, as the crypto market witnessed a renewed recovery in late October, the SOL coin price is poised to escape this long-coming consolidation. Here, we delve into five key metrics that suggest Solana could soon reach new heights, reinforcing its place among the top blockchain networks. 5 Key Metrics Suggest Solana Price Could Hit New All-Time Highs The crypto market witnessed renewed bullish momentum in late October as pioneer digital asset Bitcoin surged past $70,000. As the altcoin market mimics the recovery trend, Solana price prediction caught investors’ attention as these five metrics signal its potential for new ATH. According to Santiment data, the Solana development activity recorded a sudden spike to 140 on October 29th. Typically, active development suggests that the ecosystem is maturing with continuous innovation, which is crucial for maintaining its high position in the emerging crypto market. A high development activity often drives confidence among investors, which could be a positive for its native cryptocurrency. Development Activity | Sentiment Since last week, the SOL’s social dominance has witnessed an upward trajectory, hitting a high of 9.17 on Tuesday. This metric highlights how much attention a cryptocurrency gathers on social media platforms like X (formally known as Twitter), Reddit, and other forums. Increased social engagement typically translates to higher interest from both retail and institutional investors, reflecting the demand pressure in the market. Social Dominance | Santiment New Addresses and User Growth The on-chain data shows a dramatic surge in SOL’s new addresses, rising from 2.99 Million to 5.32 Million in October. The influence of new users not only accelerates network growth but also drives demand in Solana price as new participants engage in transactions and greater activity on…
2024-10-31T03:27:14+00:00