The president of cryptography has signed several decrees supporting cryptography, which helped the Altcoin market to straighten up strongly. Consequently, the price of the soil has rebounded compared to the significant support level of $ 240 and the key indicators of the chain have improved. There is also a notable increase in transactions on the soil network, close to a monthly summit, which pushes the ground price to $ 300 by the end of this month.
Trump Memecoin creates a new ATH for Solana’s Stablecoin supply
The release of the meme Trump room led to a significant recovery in the price of the soil compared to its recent lower. Donald Trump’s return of the Crypto Trump cryptography and several of his decrees have pushed the supply of stable parts, the number of transactions and the total locked value (TVL) of Solana at record levels.
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According to The Block data, the number of transactions on the Solana network is about to reach its monthly summit of 291.6 million. Currently, the number amounts to 289.75 million, which indicates a peak of activity on the soil network.
During last week, the quantity of stable parts in the Solana system increased exponentially, approaching for the first time the $ 11 billion and establishing a new record.
An important reason for this increase seems to be the popularity of the memes pieces on the theme of the Trump family, in particular the official Trump (Trump) and official Melania (Melania). These pieces have reported billions of dollars and recently attracted hundreds of thousands of new users on Solana.
Consequently, the number of new Solana portfolio addresses created each day reached nearly 5.2 million. In addition, the number of addresses active on the soil network is now 5.3 million.
Defillama’s data show that the enthusiasm aroused by the same in the Solana ecosystem has also caused a significant increase in its total locked value (TVL).
Solana TVL increased from $ 1.28 billion on January 24, 2024 to 12.44 billion dollars today, an increase of more than 870 % since the start of the year. It also increased by 25 % in last week.
What is the next step for the floor price?
Solana’s price is maintained above a key level on its graph, showing that buyers are confident. Although he tries to stay above $ 260, sellers oppose high price increases. Currently, Solana’s price is $ 266, after an increase of 7.9 % in the last 24 hours.
The Sol/USDT negotiation pair is more than $ 265 and could exceed nearby fibonacci levels. The relative force index (RSI) is 60, which is in the purchasing area, which suggests that Solana’s price could climb over $ 290. If it remains above $ 290, it could be good for buyers, possibly pushing the price up to $ 310.
However, if the price falls below the exponential mobile average over 20 periods (EMA20) on the hourly graph, the sellers could lower it up to $ 233.