Solana is up 0.4% in 24 hours. Can DeFi/L2 maintain their strength?
Solana rose 0.4% today, reaching $746.34. According to Binance, the funding rate is -0.0009%, with no notable fluctuations in liquidation data. The long/short ratio is 2.425, indicating that bulls are in the stronger position.
Sentiment-wise, the Fear & Greed Index stands at 68/100. Exchange balances continue to show net outflows, while stablecoin supply has grown 2.5% over the past 30 days. Active addresses on-chain continue to rise, signaling increased market activity.
If the DeFi and Layer 2 sectors continue to strengthen, Solana may break higher. Otherwise, beware of a potential pullback. Holding the key $740 support level is important.
#Solana
Solana rose 0.4% today, reaching $746.34. According to Binance, the funding rate is -0.0009%, with no notable fluctuations in liquidation data. The long/short ratio is 2.425, indicating that bulls are in the stronger position.
Sentiment-wise, the Fear & Greed Index stands at 68/100. Exchange balances continue to show net outflows, while stablecoin supply has grown 2.5% over the past 30 days. Active addresses on-chain continue to rise, signaling increased market activity.
If the DeFi and Layer 2 sectors continue to strengthen, Solana may break higher. Otherwise, beware of a potential pullback. Holding the key $740 support level is important.
#Solana