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Solana is on the Leadership Throne

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Blockchain company Santiment tweeted that the price of Solana posted more than 22% of the 24-hour value from the previous day in just 2 hours.

Solana Price History

Solana prices are up 40% in the last 24 hours as the crypto market sees a broad recovery. Its 24-hour trading volume increased by 195% to $2.76 billion.

The price of major cryptocurrencies such as Bitcoin (BTC) and Ethereum jumped 10% in the previous day. However, the total continued to climb back to the important $1 trillion mark. Blockchain intelligence company Santiment reported that the price of Solana posted more than 22% of the 24-hour value from the previous day in just 2 hours. The tweet went on to say that many short positions have been liquidated which helped SOL.

SOL Price Increased By 40%

Solana’s share price at the time of writing is $23.66, with a market capitalization of $12.6B in the 24-hour market, up 167%. It is now worth $2.5 billion. Currently, the circulating supply is around 370,622,178 SOL according to crypto market analyst CoinMarketCap. Due to the FTX problem, the price of SOL seems to be worthless at the moment. Solana is considered a volatile cryptocurrency. For example, the network has been priced higher than sometime in 2021. The current price does not match what Solana has to offer in terms of capacity.

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Binance Currency Rate

Santiment’s chart included in today’s tweet shows that traders on Binance have shown a lack of interest in selling over the past few months. The price of SOL can recover from the bottom, it reached $ 8 about two weeks ago. The tweet says that the return is supported by short-term conditions.

Daily Solana Price Chart

SOL price is currently trading above the 20-day and 9-day EMA lines. Additionally, the 9-day EMA line, which is set higher than the 20-day long EMA line, supports the price of the asset.

Disclaimer: This is not investment advice. Please do your due diligence before investing in any property.

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