Solana, one of the fastest growing cryptocurrencies, recently achieved a major milestone by surpassing Polygon in decentralized exchange (DEX) volume. This development has led to increased interest in the crypto market among private and institutional investors.
Solana vs. Polygon: a new market leader?
Recent data shows that Solana has surpassed Polygon in DEX volume for the fourth time this year, with an impressive $466 million compared to Polygon’s $171 million. This increase comes after a week in which the SOL rose 45%, breaching $60 for the first time since May 2022.
Investor confidence in Solana
This recent recovery of Solana has attracted the attention not only of traders, but also of institutions. The growing demand for Solana is reflected in large purchases on crypto exchanges and regulated Solana ETF funds. This has led to optimistic predictions about the future price of SOL, with some analysts predicting a possible rise to $1,000 per coin in the next cycle.
Solana highlighted
Interest in Solana continues to grow, although the price is still well below its 2021 peak. Last week, retail traders bought SOL for $60 on crypto exchanges, while institutional investors were willing to pay $125 per currency through Solana-regulated ETF funds. This willingness of investors to pay more for SOL through regulated entities underlines the confidence in Solana’s future.
Source: BTC Direct
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
