Crypto
Solana Surges 4.74% Amid Cooling Volumes and Regulatory Hopes
Solana continued its upward momentum on Sunday, posting a 4.74% gain to trade at $166 despite declining trading volumes across major exchanges.
This marked the sixth consecutive day of price increases for Solana, which has broken above its 50-day moving average since June 5.
Bloomberg analyst Eric Balchunas forecasts a 90% probability of Solana ETF approval, significantly boosting market confidence.
The decline in trading activity presents a paradox, with reduced volume typically suggesting waning investor interest, but CryptoQuant analysts believe it could indicate an accumulation phase among institutional and retail investors.