SOL Chain Surge: SOL Hits New High

SOL rises above 190U Why does SOL surge?

SOL chain frequently produces golden dogs, rising over 1700% in 3 hours

SOL rose above 190 USDT, continuing to hit a new high since January 2022

The much-anticipated Dencun upgrade was officially activated at 21:55 Beijing time.

Interestingly, after the Cancun upgrade was completed, Ethereum is now quoted at US$3,969. On the contrary, SOL, which is also a Layer 1 public chain, has been soaring. SOL has exceeded 170, from around 152 to breaking through 170. Many people are joking: " Congratulations on the completion of the SOL Cancun upgrade."

Why did SOL soar after being upgraded in Cancun?

First of all, the Cancun upgrade (Dencun upgrade) of Ethereum is completed, which has had a positive impact on the entire cryptocurrency market, including on ecosystems such as SOL (Solana). Although the Cancun upgrade is mainly targeted at the Ethereum network, its impact may have indirectly driven the price of SOL through the following aspects:

Market Sentiment:

Any major upgrade to Ethereum will draw widespread attention from the market and could increase investor confidence in the overall crypto market. This optimistic market sentiment may spread to other "star players" including Sol. This point is actually very critical. As the Solana ecosystem grows, market sentiment becomes optimistic. Many investors join Solana's investment out of FOMO (fear of missing out), further promoting the popularity of the ecosystem.

Industry growth:

New projects are constantly being launched in the Solana ecosystem, and these projects are often innovative, and the upgrade of Ethereum usually means the advancement of blockchain technology and the maturity of the encryption ecosystem, which may attract new investors to the market. With the influx of new funds, other "representative players" such as SOL may also benefit.

Increased trading activity:

The Cancun upgrade aims to reduce transaction costs and improve network efficiency, which is likely to increase transaction activity on Ethereum and its second-layer solutions. As transaction volumes increase, investors may look to other high-performance blockchains with similar characteristics, such as Solana: improved performance and scalability of the network. Solana’s high throughput and low latency make it great at handling large volumes of transactions. Therefore, the price of SOL is further pushed up!

Fund inflow:

There will be some large investment institutions and whales that may adjust their investment portfolios before the Ethereum upgrade.If they believe that SOL, which is also a Layer 1 public chain, provides better investment opportunities, they may increase their purchases of SOL, thus pushing up its price.

external factors:

The overall trend of the encryption market, changes in the regulatory environment and macroeconomic factors can all affect the popularity of the Solana ecosystem. And market participants may expect more decentralized applications (DApps) and projects to migrate to or build on other blockchains after the Ethereum upgrade, which may increase demand for platforms such as SOL

The SOL chain just released the second-generation SOL mobile phone some time ago, and the sales are booming. Recently, SOL has been rising again, from 20USDT at the bottom of October last year to 170-180U recently. Now the new and old leeks in the currency circle agree that SOL will continue to grow. If it continues to rise, some currency friends feel that it will surpass BNB in ​​the near future, and some even think that SOL will surpass ETH and become the strongest public chain.

The recent strength of the SOL chain is of course inseparable from the help of the local dogs on the chain. The following are the hottest ones recently:

$WIF: The full name is dogwifhat. At present, WIF has basically been listed on mainstream exchanges. The total issuance is 999 million. The unit price has increased from a few tenths of U in the past few weeks to about 3.3U now. The market value has also reached 3 billion U+. , it can be regarded as singing all the way.

$BONK: bonk was listed relatively early. It was listed at the beginning of last year and was listed on several mainstream exchanges. However, it has also started to rise in the past few months. Now the price has reached around 0.000035U, the circulation volume is 93.53 trillion, and the market value is also It has reached 2 billion U+, which is also a relatively hard coin.

There are also many awesome coins like $MYRO, $PENG, $SOLAMA, etc. There is also a super awesome $BOME online.

Within six or seven hours of being online, there was a huge pool and a huge amount of transactions. The increase was nearly 20 times, and the market value has reached about 75 million U. This is considered a phenomenal local dog. Coin friends are also very FOMO, and it is expected to be very soon. On the exchange, risks and opportunities currently coexist.

热点： CHAIN HIGH SOL