{"id":180206,"date":"2023-10-24T22:45:12","date_gmt":"2023-10-24T17:15:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=180206"},"modified":"2023-10-24T22:45:12","modified_gmt":"2023-10-24T17:15:12","slug":"solana-trades-at-pre-ftx-levels-once-again-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/solana-trades-at-pre-ftx-levels-once-again-crypto-news\/","title":{"rendered":"Solana trades at pre-FTX levels once again &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<br style=\"clear: both;float: none\" \/><\/p>\n<ul>\n<li><em><span style=\"font-weight: 400\">SOL\u2019s price rallied by over 60% in the last 30 days.<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">It now trades at its highest price level since November 2022.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/SOL\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Solana [SOL]<\/span><\/a><span style=\"font-weight: 400\"> has seen the most growth among the top ten crypto assets in terms of market capitalization in the last month, with its price surging over 60%, according to data from <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/messari.io\/screener\/screen\/ecosystem-tokens-seaa\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">Messari<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The price of major ecosystem tokens has recently been on the rise.<\/p>\n<p>Solana in particular has experienced a nearly 55% price appreciation over the last 30 days.<\/p>\n<p>Major Ecosystem Screener: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/TPNhzaeln4\" data-wpel-link=\"external\">https:\/\/t.co\/TPNhzaeln4<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/EXbjvQvO79\" data-wpel-link=\"external\">pic.twitter.com\/EXbjvQvO79<\/a><\/p>\n<p>\u2014 Messari (@MessariCrypto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MessariCrypto\/status\/1716477125656707183?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">October 23, 2023<\/a><\/p>\n<\/blockquote>\n<hr \/>\n<p style=\"text-align: center\">Is your portfolio green? Check out the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/solana-profit-calculator\" data-wpel-link=\"internal\">SOL Profit Calculator<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">This performance comes amid a broader crypto market rebound, with <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/bitcoin\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400\"> and <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/ETH\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Ethereum [ETH]<\/span><\/a><span style=\"font-weight: 400\"> also seeing gains of 30% and 15%, respectively, during the same period.\u00a0<\/span><\/p>\n<h4><b>Demand for SOL is through the roof<\/b><\/h4>\n<p><span style=\"font-weight: 400\">At press time, the price per SOL coin was $32. The last time the altcoin traded at this price level was in November 2022, according to data from <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/solana\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<div id=\"attachment_353245\" style=\"width: 1402px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOL_1Y_graph_coinmarketcap.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353245\" class=\"size-full wp-image-353245\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOL_1Y_graph_coinmarketcap.png\" alt=\"\" width=\"1392\" height=\"792\" \/><\/a><\/p>\n<p id=\"caption-attachment-353245\" class=\"wp-caption-text\">Source: CoinMarketcap<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">The bullish momentum that has marked the general crypto market in the past few weeks has resulted in a growth in trading activity around SOL. According to data from <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.santiment.net\/charts\/FoSzIDuW__sCl\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">Santiment<\/span><\/a><span style=\"font-weight: 400\">, the coin\u2019s daily trading volume has risen by over 30% since 16 October.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At press time, SOL trades worth over $1 billion have been completed in the last 24 hours, marking its highest daily trading volume since July.\u00a0<\/span><\/p>\n<div id=\"attachment_353246\" style=\"width: 3850px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-07.39.31-24-Oct-2023-1.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353246\" class=\"size-full wp-image-353246\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"3840\" height=\"1300\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-07.39.31-24-Oct-2023-1.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-07.39.31-24-Oct-2023-1-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-07.39.31-24-Oct-2023-1-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-07.39.31-24-Oct-2023-1-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-07.39.31-24-Oct-2023-1-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-07.39.31-24-Oct-2023-1-2048x693.png 2048w\" data-lazy-sizes=\"(max-width: 3840px) 100vw, 3840px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-07.39.31-24-Oct-2023-1.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353246\" class=\"size-full wp-image-353246\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-07.39.31-24-Oct-2023-1.png\" alt=\"\" width=\"3840\" height=\"1300\" \/><\/a><\/p>\n<p id=\"caption-attachment-353246\" class=\"wp-caption-text\">Source: SOL\/USD on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Momentum indicators observed on a daily chart revealed that SOL accumulation has significantly outpaced distribution among spot traders. <\/span><\/p>\n<p><span style=\"font-weight: 400\">For example, the coin\u2019s Relative Strength Index (RSI) and Money Flow Index (MFI) were spotted at 76.59 and 87.73, respectively, at the time of writing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">These values suggested that buying activity exceeded profit-taking activity, hence the sustained rally in SOL\u2019s price. However, it should be noted that the values of these indicators also suggested that the alt was overbought and was due for correction.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The coin\u2019s Chaikin Money Flow (CMF) \u2013 which measures the buying and selling pressure for a crypto asset \u2013 was 0.10 at press time. A positive CMF value is a sign of strength in the market, indicating the inflow of much-needed liquidity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This is good because the supply of more liquidity makes it easier for spot market buyers and sellers to execute trades at desired prices, potentially reducing price volatility.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\">How much are\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-sol-to-usd\" data-wpel-link=\"internal\">1,10,100 SOLs worth today<\/a>?<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">Moreover, SOL\u2019s Average Directional Index confirmed the strength of the current uptrend. At 39.02 at press time, the uptrend was strong. This meant that SOL\u2019s price was moving in a clear direction, and a lot of bullish momentum existed behind the trend.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Positive Directional Indicator (green) at 40.60 also rested above the Negative Directional Indicator (red) at 5.7. This suggested that the buyers\u2019 strength exceeded the sellers.<\/span><\/p>\n<div id=\"attachment_353249\" style=\"width: 2720px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-24_06-56-40.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353249\" class=\"size-full wp-image-353249\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"2710\" height=\"1226\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-24_06-56-40.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-24_06-56-40-300x136.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-24_06-56-40-1024x463.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-24_06-56-40-768x347.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-24_06-56-40-1536x695.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-24_06-56-40-2048x927.png 2048w\" data-lazy-sizes=\"(max-width: 2710px) 100vw, 2710px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-24_06-56-40.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-353249\" class=\"size-full wp-image-353249\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-24_06-56-40.png\" alt=\"\" width=\"2710\" height=\"1226\" \/><\/a><\/p>\n<p id=\"caption-attachment-353249\" class=\"wp-caption-text\">Source: SOL\/USDT on TradingView<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>SOL\u2019s price rallied by over 60% in the last 30 days. It now trades at its highest price level since November 2022.\u00a0 Solana [SOL] has seen the most growth among the top ten crypto assets in terms of market capitalization in the last month, with its price surging over 60%, according to data from Messari. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":180207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-180206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=180206"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180206\/revisions"}],"predecessor-version":[{"id":180209,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180206\/revisions\/180209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/180207"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=180206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=180206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=180206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}