Solana Stabilizes Between $69-$74 as Market Cap Falls to $42.6B
Solana (SOL) has been trading steadily between $69 and $74 over the past day, with a market cap of $42.61 billion.
The price action is still within the symmetrical triangle pattern on the daily chart, with SOL-focused extra-traded funds (ETFs) recording net inflows for the second consecutive session.
According to CoinGlass, the funding rate climbed to 0.0052%, indicating increased demand among buyers for long positions.
However, Solana's DeFi ecosystem has cooled down, with protocols such as PumpSwap and Raydium reporting lower fee generation over recent weeks.