{"id":274728,"date":"2024-03-31T02:11:10","date_gmt":"2024-03-30T20:41:10","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=274728"},"modified":"2024-03-31T02:11:10","modified_gmt":"2024-03-30T20:41:10","slug":"solana-how-high-will-sol-prices-go-in-april-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/solana-how-high-will-sol-prices-go-in-april-crypto-news\/","title":{"rendered":"Solana: How high will SOL prices go in April? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<ul>\n<li><em>Solana flipped MakerDAO in revenue, which consistently held the third spot in recent months.<\/em><\/li>\n<li><em>SOL jumped by more than 50% in the month.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/category\/solana-news\/\" data-wpel-link=\"internal\">Solana [SOL]<\/a> ecosystem\u2019s coffers were filled to the brink in March, following increased traffic on its blockchain.<\/p>\n<h4>Solana smiles all the way to the bank<\/h4>\n<p>The smart contracts network raked in a whopping $31.58 million as of the 30th of March, as per AMBCrypto\u2019s analysis of Token Terminal data, becoming the third-highest revenue generator in the broader Web3 industry.<\/p>\n<div id=\"attachment_380535\" style=\"width: 1114px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/solana-monthly-revenue.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-380535\" class=\"wp-image-380535 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/solana-monthly-revenue.jpg\" alt=\"Solana monthly revenue\" width=\"1104\" height=\"509\" \/><\/a><\/p>\n<p id=\"caption-attachment-380535\" class=\"wp-caption-text\">Source: Token Terminal<\/p>\n<\/div>\n<p>Solana flipped lending protocol <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/maker-price-prediction\" data-wpel-link=\"internal\">MakerDAO [MKR]<\/a>, which consistently held the third spot in recent months. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/category\/ethereum-news\/\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/tron-price-prediction\" data-wpel-link=\"internal\">Tron [TRX]<\/a> remained the top two revenue generators.<\/p>\n<p>As obvious, the revenue uptick followed an explosion in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/category\/memecoins\/\" data-wpel-link=\"internal\">memecoin<\/a> trading on the platform. A barrage of coins were minted on the chain one after the other, drawing crypto degens who do not require a second invitation in such instances.<\/p>\n<p>The speculation led to higher number of transactions, in turn generating significant fee revenue for the network.<\/p>\n<h4>SOL was one of the top performers in March<\/h4>\n<p>The ecosystem\u2019s native token SOL reaped benefits from the blockchain\u2019s increased utilization. The fifth-largest coin jumped by more than 50% in the month, becoming one of the biggest market gainers, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/solana\/\" data-wpel-link=\"external\">CoinMarketCap<\/a>.<\/p>\n<p>Note that Solana burns 50% of its fee revenue, meaning that more the fees collected, more will be the deflationary pressure on SOL.<\/p>\n<p>The price surge also got derivatives traders interested. According to AMBCrypto\u2019s analysis of Coinglass\u2019 data, the Open Interest (OI) in SOL futures increased to $2.74 billion at press time. This marked a 43% increase over the month.<\/p>\n<p>A rising OI accompanied by a rising market value is indicative of a bullish market.<\/p>\n<div id=\"attachment_380536\" style=\"width: 1136px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/sol-open-interest.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-380536\" class=\"wp-image-380536 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Solana Open Interest\" width=\"1126\" height=\"348\" data-lazy-srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/sol-open-interest.jpg 1126w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/sol-open-interest-300x93.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/sol-open-interest-1024x316.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/sol-open-interest-768x237.jpg 768w\" data-lazy-sizes=\"(max-width: 1126px) 100vw, 1126px\" data-lazy-src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/sol-open-interest.jpg\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-380536\" class=\"wp-image-380536 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/03\/sol-open-interest.jpg\" alt=\"Solana Open Interest\" width=\"1126\" height=\"348\" \/><\/a><\/p>\n<p id=\"caption-attachment-380536\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\">Realistic or not, here\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">SOL\u2019s market cap in BTC\u2019s terms<\/a><\/p>\n<hr \/>\n<p>As of this writing, SOL was just 21% shy of its all-time high (ATH) of $249, set in November 2021. Popular crypto commentator Captain Faibik had recently predicted that the new ATH would be hit sometime in April.<\/p>\n<p>If the forecast comes true, it would be some feat for the asset which plunged to $18 during the peak crypto winter of November 2022.<\/p>\n<p>\u00a0<\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\nNext: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/shiba-inu-whats-stopping-shibarium-from-matching-shibs-success\/\" data-wpel-link=\"internal\">Shiba Inu [SHIB] is a success, what\u2019s stopping Shibarium?<\/a> <\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solana flipped MakerDAO in revenue, which consistently held the third spot in recent months. SOL jumped by more than 50% in the month. Solana [SOL] ecosystem\u2019s coffers were filled to the brink in March, following increased traffic on its blockchain. Solana smiles all the way to the bank The smart contracts network raked in a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":274729,"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-274728","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\/274728","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=274728"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/274728\/revisions"}],"predecessor-version":[{"id":274731,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/274728\/revisions\/274731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/274729"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=274728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=274728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=274728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}