Solana (SOL) Revenue Surpasses $2M Despite Bearish Trend Indicator

Share on Facebook Share on Twitter

The Essentials in Brief

Solana (SOL), one of the leading cryptocurrencies, has seen a notable increase in its revenues over the past month. However, the value of the token could decrease in the coming week. Solana’s network activity has increased, but despite the increase in daily active addresses, daily transactions have declined in recent weeks. The price of the token has risen by 18% in the last week, but the indicators have turned bearish.

Solana’s Performance in February

In February, Solana [SOL] was particularly profitable. The revenues of the blockchain rose above the $2 million mark. The activity on Solana’s network has also increased, as confirmed by the high numbers of daily active addresses in March.

Price Development of SOL

Despite the interesting development of the blockchain’s network activity, the token’s price action has developed bullishly thanks to market conditions. According to CoinMarketCap, SOL has risen by more than 18% in the last seven days. In the last 24 hours alone, the value of the token increased by over 2%. At the time of publication, SOL was trading at $131.38, with a market capitalization of over $458.1 billion, making it the fifth largest crypto.

Forecast for SOL

To see if the positive market environment will allow SOL to continue its bull rally, a look was taken at Solana’s daily chart. It was found that its MACD showed a bullish crossover, indicating a further price increase. However, the remaining indicators for the token looked bearish.

Our Assessment

Despite Solana’s impressive performance in February and high network activity, the indicators point to a possible price correction. If this occurs, the value of SOL could fall to its support level near the $81 mark. Therefore, investors should be cautious and keep a close eye on developments around SOL.

Sources: Dipayan Mitra, Ann Maria Shibu, Artemis, CoinMarketCap, Santiment, TradingView.

Share on Facebook Share on Twitter
Casinos: 6
Profile Solana
Symbol SOL
Coin type Alt Coin
  • Secure payment method
  • Very fast transactions
  • Not widely used
Price 143,33 €
Percent Change 24h -3,78 %
Percent Change 7d 16,67 %
Percent Change 30d -20,43 %
Percent Change 60d 50,20 %
Percent Change 1y 606,87 %
Market Cap 64.095.940.990,00 €
Official Links
Socials Reddit | X
Best 3 Solana casinos

Latest News

Isabella Brown

Created by

Online Gambling, Greece and my dog Gringo are my three favorite things in my life. Before working for I was leading the content team of an iGaming Online magazine where I was focused on researching casinos, their licenses and the connection between the members of the industry.
Reviewed by
Nerd of Numbers

Last update: 12. March 2024 Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

We use cookies. By using this site, you accept them. - 100% unlimited Uncapped bonus for new customers Show Bonus