The main dishes to remember:
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TVL of $ 10.9 billion in Solana exceeded the entire ecosystem of layer 2 of the ethereum.
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The income of 30 days of Solana ($ 43.4 million) increased by 109% compared to the previous month.
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The financing rate of 8% soil shows a demand for healthy leverage of the bulls.
The Solana soil soil token jumped 24.8% between May 6 and 10, after the wider rally on the Altcoin market after Bitcoin exceeded $ 100,000. Since then, Sol has struggled to stay above $ 180, but the derivatives and data from ONCHAIN still suggest that other gains are in store.
While Solana classifies the fifth largest cryptocurrency by market capitalization, Solana Network is the vice-lead in the key measurements of Onchain, including the total locked value (TVL).
The total locked value of $ 10.9 billion in Solana (TVL) exceeds the entire ecosystem of layer 2 of layer 2, which includes the base, arbitrum and optimism. Even the BNB channel, which fits perfectly with the Binance and Trust wallet, cannot correspond to the Numbers of Solana. TVL increases at 30 notable days for Solana include Raydium Dex, UP 78%, Jito Liquid Staking Solution, UP 41%and Marinade, which won 56%.
The increase in costs of costs increases the request and the soil momentum
Growing field in decentralized finance (DEFI) does not always translate into the demand for a native token, because some networks have extremely low costs. For example, over a recent period of 30 days, the Ethereum network generated only $ 24.9 million in basic layer fees, while Tron captured $ 51.9 million and Solana totaled $ 43.3 million, according to Defillama.
Solana’s income and chain fees have shown constant growth in the past four weeks. The latest figures are approaching their highest levels in three months, which is very positive for soil, because it stimulates demand. With 65% of the soil offer involved in stimulation, this dynamic also supports the momentum of upward prices.
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To assess whether the traders are becoming more and more optimistic about the prospects of soil prices, it is useful to examine the demand for leverage. A positive financing rate means that long positions (buyers) pay to keep their businesses open.
Currently, the financing rate of perpetual soil term contracts is 8%, which is a neutral range of 5% to 10% depending on the cost of capital. However, with soil still exchanging 40% below its summit of $ 295 compared to January 19, there are still few reasons for still excessive optimism. However, growing activity on the Solana network suggests that soil could reach $ 200 soon, potentially surprising its competitors.
The exact catalyst that could propel the higher soil price remains uncertain, but the possibilities include the potential approval of a fund (ETF) of Solana Exchange (ETF) in the United States, as well as the possible inclusion of Solana in a strategic reserve of the state of digital assets at the level of the state. In addition, some analysts are optimistic about the tokenization of traditional assets on Solana, which could unlock an additional value for soil.
This article is for general information purposes and is not intended to be and must not be considered as legal or investment advice. The points of view, the thoughts and opinions expressed here are the only of the author and do not reflect or do not necessarily represent the opinions and opinions of Cointellegraph.
