Solana (SOL) Exceeds $150 Amid Market Excitement

Bitget App

Trade smarter

Bitget

News

Bitget2024/03/08 06:53

By:Bitget

Solana (SOL) Exceeds $150 Amid Market Excitement image 0

Solana (SOL) has seen a remarkable surge, reaching $150 for the first time since January 2022, with a 19.5% increase between March 5 and March 7. This rally was fueled by news of Pantera Capital's plan to purchase $250 million worth of SOL tokens from the bankrupt FTX estate. This news sparked a 47% gain over twelve days, leading traders to speculate on SOL's potential to surpass $200.

Additionally, the surge in Solana's DEX activity, fueled by the frenzy surrounding Solana memecoins, contributed to the bullish momentum.

Moreover, the performance of tokens like Jupiter (JUP) and Raydium (RAY), along with anticipation surrounding upcoming airdrops, including Wormhole and Kamino, further boosted SOL's momentum.

Despite concerns about the sustainability of SOL's momentum, its performance isn't solely tied to specific token performances. Instead, the expansion of the Solana network in terms of deposits and volumes is a more reliable indicator of its success. The network's smart contract deposits reached a 16-month high, and Solana outpaced Ethereum in DApps volume growth, reflecting its increasing popularity in the blockchain space.

Source: CoinTelegraph

Futures market Updates

Both Bitcoin and Ether futures saw slight increases in open interests with notable declines in trading volumes. They maintained balanced long/short ratios, while short liquidations surpassed long liquidations.

Bitcoin Futures Updates

Total BTC Open Interest: $31.35B (+1.92%)

BTC Volume (24H): $73.69B (-43.99%)

BTC Liquidations (24H): $15.15M (Long)/$28.13M (Short)

Long/Short Ratio: 50.35%/49.65%

Funding Rate: 0.0331%

Ether Futures Updates

Total ETH Open Interest: $13.13B (+3.21%)

ETH Volume (24H): $37.89B (-40.00%)

ETH Liquidations (24H): $16.32M (Long)/$25.53M (Short)

Long/Short Ratio: 51.85%/48.15%

Funding Rate: 0.0474%

Top 3 OI Surges

XEC: $16.12K (+141.46%)

RUNE: $121.31M (+92.89%)

PHB: $46.79M (+85.42%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

Quick Take Summary is AI generated, newsroom reviewed. Solana recorded $2.25 billion USDC Mint during September 2025 Institutions prefer Solana for speed, liquidity, and regulatory clarity GENIUS Act rules boost compliance trust for institutional stablecoin adoption Public companies increasingly use Solana treasuries for staking and yield Circle expands USDC Mint globally under MiCA and e-money frameworksReferences $2.25B $USDC Minted on Solana This Month

coinfomania•2025/09/16 23:03

Forward Industries to tokenize company stock and operate fully on Solana blockchain

Cryptobriefing•2025/09/16 22:18

Get Your Bitcoin and Ethereum via PayPal: P2P Payments Have Just Entered the Cryptocurrency Space

PayPal has launched peer-to-peer payments for Bitcoin and Ethereum, allowing users to send and receive cryptocurrencies directly through its platform more easily than before.

Cryptoticker•2025/09/16 21:59