Solana is the 5th largest cryptocurrency, with a market cap of $76.1 billion and a current price of $161.6. SOL was launched in 2020 with a listing price of $0.9511, according to the coinmarketcap. From the listing price, Solana price has increased by 19,335%, giving many chances to investors in the rally. In 2023, it also gave over a 1,000% return in the later cycle of the market.
Similar potential is rising in the DTX Exchange (DTX), which is significantly impacting the trillion-dollar exchange industry. DTX has proven its growth prospects with the record-breaking presale, raising $6.6 million in the fourth stage. SOL whales have also entered the presale with an investment of over $2.2 million.
SOL’s Transaction Volume Sees Remarkable Growth: How Will It Impact Solana Price?
Solana (SOL) recently hit an impressive milestone, with its daily transaction volume reaching around $224 billion. This surge was primarily driven by a highly active wallet using multiple accounts, highlighting the network’s high user engagement. According to VanEck, Solana’s low-cost, high-speed structure makes it ideal for high transaction volumes, even though some of its revenue has come from speculative memecoin activity.
However, Ethereum saw stronger flows this week as its price rose sharply, drawing more institutional interest than Solana. As Solana price fluctuated, its weekly outflows reached $5.7 million, slightly dipping it into the red. Despite a $600,000 outflow, analysts expect a potential reversal soon. So far this year, Ethereum has brought in $758 million in inflows, while Solana’s inflows total $59 million.
After rejecting the decreasing trendline resistance, the Solana price has reduced by around 15%. Some traders took short positions after the breakdown of the channel pattern in the Solana price. However, the downtrend has taken a pause after SOL took support from the 50-day exponential moving average. There hasn’t been any major effect of the volume rise in the Solana price, but we might see some trending moves in the future.
DTX Exchange (DTX): Leading The DeFi Pack In The Bull Market
After three successful presale rounds, the DTX Exchange has become the leader in the list of top emerging projects in the DeFi sector. The platform’s strong infrastructure and distinctive offering have placed it at the forefront. DTX Exchange provides all the key features a trader needs in a single platform, and this unified feature separates it from other decentralized and traditional exchanges.
VulcanX blockchain technology allows investors to trade over 120,000 instruments, such as futures, options, CFDs, etc., in different assets like stocks, forex, and cryptos. Multi-asset trading becomes more interesting with the 1,000 increased buying power and no-KYC requirements. Advanced tools like algorithmic trading increase their appeal among traders and their efficiency.
The DTX platform focuses on a consumer-centric approach. It has decreased the trading fee to nominal and also provides features through which users can earn the exchange’s fee revenue. Another worthy feature of DTX Exchange is staking, which provides 32% APY, the highest in the industry.
DTX token is currently in the presale phase, allowing investors to buy tokens at the discounted price of $0.08. Early investors have the opportunity to replicate the Solana price gains and create generational wealth. For investors looking to enter the market, this is the perfect time to start with investment in high potentials like DTX Exchange.
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