Solana Price Eyes $143 Resistance After Record Stablecoin Supply

Solana's price has bounced back from its recent low of $96.87 on September 16, reaching around $122.07 during a session earlier this month.

This surge in price is attributed to buyers defending the key support range, particularly the $117 mark identified by analyst Bitcoin Meraklisi as a critical level.

The recent stability in Solana's price has also been bolstered by increased demand for Solana-based investment products and enhanced stablecoin liquidity on the network.

This growth in stablecoin supply has reached a record high of $17.3 billion, underscoring the expanding use of stablecoins within decentralized applications and financial services built on Solana.