🎉 #Gate xStocks Trading Share# Posting Event Is Ongoing!
📝 Share your trading experience on Gate Square to unlock $1,000 rewards!
🎁 5 top Square creators * $100 Futures Voucher
🎉 Share your post on X – Top 10 posts by views * extra $50
How to Participate:
1️⃣ Follow Gate_Square
2️⃣ Make an original post (at least 20 words) with #Gate xStocks Trading Share#
3️⃣ If you share on Twitter, submit post link here: https://www.gate.com/questionnaire/6854
Note: You may submit the form multiple times. More posts, higher chances to win!
📅 End at: July 9, 16:00 UTC
Show off your trading on Gate Squ
Here's Why Solana Price Could Rise 8% According to Analyst - Coinspeaker
Key Notes
Solana
SOL $149.3
24h volatility: 1.2%
Market cap: $79.99 B
Vol. 24h: $4.32 B
is on the brink of breaking the $160 mark, thanks to multiple bullish indicators.
Ali Martinez, a well-known technical analyst, said in an X post that Solana’s 1H price chart has formed a symmetrical triangle.
He believes that if SOL moves above $153, the asset will likely gain 8%, reaching $164.
“If you’re not watching Solana, you’re asleep,” Martinez wrote.
Solana is up 2.2% in the past 24 hours and is trading at $152.7 at the time of writing. The asset’s market cap is hovering close to $82 billion, with a daily trading volume of just over $4 billion.
The Rising SOL Ecosystem
In addition to the price, Solana’s decentralized finance ecosystem and exchange-traded funds have also been rising.
According to data from DefiLlama, Solana’s DeFi total value locked increased by 1.2% in 24 hours, reaching $8.7 billion.
Jito, a liquid staking protocol, is leading the layer-1 network’s DeFi ecosystem with a TVL of $2.7 billion.
Moreover, the first-of-its-kind US-based spot SOL ETF by REX Financial and Osprey Funds, known as SOL and Staking ETF (SSK), has been accumulating constant inflows.
According to data from Farside Investors, the SSK fund recorded a net inflow of $41.2 million since its launch on July 2.
On July 7, the US Securities and Exchange Commission asked the Solana ETF applicants to resubmit their filings by the end of July. The agency’s request hints at the potential early approval of SOL-based investment products.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.