Coinspeaker
Solana Bulls Back in Charge: Increased Network Activities, JUP Token Launch, Whales Drive Momentum
The Solana blockchain has seen growing activity recently. Both the price and usage metrics of Solana’s native cryptocurrency, SOL, indicate positive momentum for the network.
After a short period of decline that began around mid-December, Solana is starting to gain strength. The price has started moving upwards since reaching a bottom on January 23rd at around $79. It then rallied to $104 before correcting back to $100.
However, data show that the overall trend is still positive. According to CoinMarketCap, the price is still up by 15% over the past 7 days. In addition, the Relative Strength Index (RSI), which measures the strength and momentum of a price trend shows the bulls are still in control as the value is presently around 55. This indicates that there is still room for the price to grow. Overall, Solana’s price has increased by more than 310% over the past year
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