Solana's Price Increases

Solana's Price Increases

FinanceEconomy

By Jakub Lazurek

01 Feb 2024 (4 months ago)

1 min read

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Solana's SOL price rebounds from a low, driven by increased blockchain activity, the launch of the JUP token, and significant investments, signaling a positive trend despite previous declines.

SOL's price went up after it fell to $79 on January 23rd, reaching $104 but then dropping a little. The busy Solana blockchain helps increase SOL's value. Solana is recovering from a decrease since mid-December. Its price went from $79 to $104 and now is around $100. The trend is still positive, with a 15% increase in the last week. The Relative Strength Index (RSI) at 55 means there's a chance for more growth. Over the last year, Solana's price has gone up by more than 310%.

This rise in price shows investors believe in Solana's future and usefulness. Its fast transactions and lower fees than others, like Ethereum, make it popular. More use of Solana's dApps and DeFi protocols could keep increasing SOL's demand. In other news, in court, Jones said Wen tried to help Zhang change his Bitcoin into assets, including a failed attempt to buy a £12.5 million property in London because the Bitcoin's origin was unclear. Wen, claiming she thought Zhang's Bitcoin was legally obtained, pleads not guilty.

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