Derivatives data suggests Solana has reached a short-term top By Cointelegraph

Derivatives knowledge suggests Solana has reached a short-term prime

Solana (SOL) reached a $216 all-time excessive on Sept. 9 after rallying 508% since Aug. The bull run precipitated some analysts to venture a $500 goal which might translate to a $150 billion market capitalization.

It’s price noting that in SOL’s rally, the community’s common transaction payment had surpassed $40. Surging curiosity within the NFT market accelerated buyers’ transition to Solana, which was boosted by FTX’s NFT market launch on Sept. 6.

Solana, Avalanche, and Cosmos worth at Binance. Supply: TradingView
Solana futures mixture open curiosity. Supply:
Solana perpetual futures 8-hour funding fee. Supply: