Altcoins

Solana (SOL) Price Can Hit $122 in The Coming Week, Only if This Happens

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Apr 16, 2022

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For the Crypto market, the first quarter of 2022 has not been in favor of the bull run as the global crypto market has been shadowed by a bearish roar. From geopolitical issues to regulatory uncertainties major events have impacted the price of Bitcoin and other cryptocurrencies.

The global cryptocurrency market capitalization is currently at $1.88 trillion with an increase of 0.26% over the last 24hrs. The weekend looks pretty good for the major cryptocurrencies as Bitcoin, Ethereum, Solana, and Polkadot are all trading green among other altcoins.

Solana Sets A Bullish Trend

The Ethereum-killer, Solana is on a track to recovery from its recent market correction as the currency has witnessed an increased demand across many exchanges, and also investors have been requesting Nansen for SOL transactions. Nansen is a Blockchain analytics platform and a crypto data dashboard and the platform has added support for Solana transactions.

In recent days, Solana was under a bearish trend, yet it is considered as a correction that is on a positive note arguing that altcoin is preparing for a bull run.

Interestingly, the Solana being added to the Nansen platform can pave the way for increased activity on Solana’s Blockchain network in terms of trade volume and total active users.

According to Nansen’s opinion, this increased activity on Solana’s Blockchain network would in turn help them to recognize emerging trends in the NFT and DeFi space. On the first day of adding Solana to the Nansen platform, the platform saw 1.31 million unique visitors checking Solana’s overview page and 32% of executions among DEXes were by Serum, a decentralized exchange platform.

Earlier, even Solana was a victim of cryptocurrency market correction, yet the present recovery has ignited a bullish perspective among investors.

At the time of writing, Solana is trading at $102.25 with a surge of 0.57% in the last 24hrs. This bounce above $101 will act as a supporting zone for Solana’s bull run.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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